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Bitcoin reached a 1 trillion dollar market cap today!

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5 minutes ago, Jeff Matthews said:

Nope.  Not buying. 

 

People have made a bundle, but... It's not realized.

 

this is an uneducated statement... where is the 'unrealized' statement come from?

 

I am not calling you dumb... I am saying an uneducated statement (as it relates to cryptocurrency)

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3 minutes ago, Jeff Matthews said:

Still, there is no way I will ever put my money at permanent risk of loss due to losing a password.  That has to be a nightmare to an estate's beneficiaries and heirs.

 

In fact, I had a recent client find a receipt from Bitcoin Exchange and wonder how on earth they would ever get to the Bitcoin of her deceased husband.  Fortunately for her, it was a scam email, and there was no Bitcoin.

 

Good luck to those of you who trust it.  I'm not saying you will ultimately lose.  Just be very careful.

 

Think of it like this.  Unclaimed Bitcoin will grow over time as the result of people who are unfortunate enough to lose passwords.  There will always be more people doing this, but by definition, they will not be making any more Bitcoin.

 

Who wants to place bets on when Bitcoin degrades to a 100% unclaimed funds?  

the rest of this doesn't make much sense... it shows a lack of understanding. but I am trying to educate those that are eager to learn. is the a chance of impermanent loss? yes... just as if you left a bundle of $100 bills on a park bench

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34 minutes ago, Schu said:

yes... just as if you left a bundle of $100 bills on a park bench

Exactly!  Who would risk that?  I'm not leaving my money on a park bench, nor am I putting it where loss of a password forfeits my investment.

 

By the way, all your statements are uneducated, too.  Not you, of course.  I'm just trying to help everyone else understand.

 

Here's a straight-forward definition:

 

 

Quote

 

A realized gain results from selling an asset at a price higher than the original purchase price. It occurs when an asset is sold at a level that exceeds its book value cost.

 

While an asset may be carried on a balance sheet at a level far above cost, any gains while the asset is still being held are considered unrealized as the asset is only being valued at fair market value. 

 

 

Source.

 

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5 hours ago, Coytee said:

 

It just cured my ED....


Whoa, WHOA - waay T M I . Where is the responsible moderator when needed? Unless of course - they too relate to your “little” problem 

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5 hours ago, Jeff Matthews said:

Exactly!  Who would risk that?  I'm not leaving my money on a park bench, nor am I putting it where loss of a password forfeits my investment.

 

 

 

exactly... why would you do that, that is precisely my point... cryptography protects your finances. leaving your money in a centralized bank is just like leaving your money with a custodian that tells you he has your best interest at heart yet charges you for every little usage... perhaps even charges you for merely PARKING your cash in an account (negative interest rates)...

 

you can walk around with cash in your pocket or use a bank issued ATM card or you could use a cryptographic payment system that issues a 24bit cryptographic 'key' that is not only unique to your individuality (your private key), but also to your individual payment (public key) each time you make a transaction. the numbers are so insanely large that no hacker could ever hope to crack that code... AND... if they did 'crack that code' it would still be no good any longer because each key is unique to each transaction. A Blockchain is Immutable and any attempt to change the historical data can not work because of the nature of a  'PUBLIC LEDGER'. not only that, anyone at any time can look at the ledger and see the data... it has no centralized control... it's purely public.

 

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1 minute ago, Schu said:

cryptography protects your finances.

Only that part which is jeopardized by unauthorized access.  It is far too dangerous to be protected this much.  It would be like putting 1,000 deadbolts on all your doors and having no chance to get out if your house catches on fire.

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So there would never be a 'RUN ON BANKS'?

come on now...

 

the debate you are attempting to have is not a debate, it's hysteria.

 

these comments and ideas that are be touted are not new or have not been discussed ad nauseam... they have, and the discussions over.

 

it's time to adopt and move forward... early adopters will reap the benefit of being 'first movers'.

 

you dont need to get rid of all your 'legacy' financials... but if you are forward thinking, it's time to shyte or get off the pot.

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2 minutes ago, Schu said:

So there would never be a 'RUN ON BANKS'?

come on now...

 

the debate you are attempting to have is not a debate, it's hysteria.

 

these comments and ideas that are be touted are not new or have not been discussed ad nauseam... they have, and the discussions over.

... and because they have been discussed ad nauseum, it means it is not settled.  That much, you can take to the bank!

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5 minutes ago, Jeff Matthews said:

... and because they have been discussed ad nauseum, it means it is not settled.  That much, you can take to the bank!

more FUD...

as individuals, one needs to make that assessment themselves. it's not up to you (or me) to make that call.

 

FWIW... today the total crypto market capitalization is OVER 1.7 trillion dollars... just late last year it was not even 700 billion dollars in valuation.

 

this space (thread) is better used for informational disbursement and learning... NOT for anti-trust issues.

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3 minutes ago, Schu said:

and the discussions over.

What basis do you feel Elon Musk has for saying BTC's price "seems too high?"  Is there any rationale to that whatsoever?  Or is it just a hunch, a dumb guess, or other kind of fairy tale prognostication?  You tell me, because I don't even pretend to have a clue.  

 

However, if you want to talk about Apple's profits and the new facilities to be built by Intel, I can discuss those.  There's actually substance to talk about, even though I admit there remains plenty to also guess about.

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7 hours ago, Schu said:

not only insulating you from inflation,

How so?  If inflation is a monetary phenomenon, how does any other monetary store of value become insulating?  Why wouldn't bitcoin users demand a higher and higher price for the same product as supply rises?  I am going on the nobel prize winning Milton Friedman and his monetary theory for the question.

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The Klipsch forum does not permit arguing. Please take this to the argument clinic. 

 

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15 hours ago, oldtimer said:

How so?  If inflation is a monetary phenomenon, how does any other monetary store of value become insulating?  Why wouldn't bitcoin users demand a higher and higher price for the same product as supply rises?  I am going on the nobel prize winning Milton Friedman and his monetary theory for the question.

 

it does so by insulating currency from centralized debasement. your statement is only a truism if seen thru the eyes of a dollar correlation. Intellectually, you need to let go of legacy systems in order to grasp new monetary ideas.

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16 hours ago, Jeff Matthews said:

What basis do you feel Elon Musk has for saying BTC's price "seems too high?"  Is there any rationale to that whatsoever?  Or is it just a hunch, a dumb guess, or other kind of fairy tale prognostication?  You tell me, because I don't even pretend to have a clue. 

 

I don't listen to Elon as an assessor or BTC valuation... he's merely an adopter, and a REALLY late one at that.

 

if there is ANY take away from that statement is that BTC is in 'Discovery" mode... and no one (including wall street genius') have any idea of where it is going. The ONLY thing that can be gleaned is a theoretical price based on market capitalization and it's fixed supply. this means, as it displaces assets that are currently more valuable that it (google, silver, apple, gold etc), it is relatively easy to calculate it's coin price with certainty. I am fairly certain that if it displaces gold at 11trillion dollars, A Bitcoin will have a value of at least $1,000,000 each.

 

Another thing owning Bitcoin does for companies that keep it on their books is it is accretive to their bottom line... case in point. Teslas purchase of 1% of it's reserves added nearly a billion dollars to it's bottom  line over this last month... that value is MORE THAN Tesla has ever made since it's inception as a company... IN LESS THAN A MONTH

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25 minutes ago, Schu said:

 

it does so by insulating currency from centralized debasement. your statement is only a truism if seen thru the eyes of a dollar correlation. Intellectually, you need to let go of legacy systems in order to grasp new monetary ideas.

I disagree.  Debasement is debasement, whether centralized or not.  Bit coin is "mined" which does not imply a fixed supply.  Monetary ideas have formed over centuries of experience.  What happened to some of Europe's economies when they became flooded with new gold and silver from the "new" world?  What happened in Rome by the same mechanism?  I have seen nothing to indicate a fixed supply of any commodity throughout history.  A price is determined by supply and demand, not by theory.

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1 hour ago, Schu said:

and no one (including wall street genius') have any idea of where it is going.

Very candid!  This is exactly right.

 

1 hour ago, Schu said:

The ONLY thing that can be gleaned is a theoretical price based on market capitalization and it's fixed supply

By definition, its market capitalization tells us what it is worth now.  This statistic is completely agnostic to whether it should rise or fall in value.

 

1 hour ago, Schu said:

Another thing owning Bitcoin does for companies that keep it on their books is it is accretive to their bottom line...

It doesn't have to be.  This goes back full circle to the first quote.

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It then becomes a write off... win win

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On 2/20/2021 at 9:01 AM, CECAA850 said:

I can't look at that picture without drooling a bit.

just a bit ,  Man  -

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On 2/20/2021 at 8:45 AM, DizRotus said:
 

why cover an aluminium  car with paint -

A brand-new 427 Cobra to celebrate the car's 50th birthday | Classic Driver  Magazine

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Speaking of inflated values, TSLA is another one.  Its market cap is more than many of the largest automakers combined.  It got in the electric car game early, but the market will soon be flooded with all the others.  

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