Do you even invest?

[Melon]

Paging : How do you even buy into something like that?

Coinbase or GDAX (Same company)

[Johnny_P]

Paging : How do you even buy into something like that?

Coinbase or GDAX (Same company)

So they're like a bank almost, or a stock trading company? Is there a transaction fee or acct fee or something?

[Melon]

Coinbase or GDAX (Same company)

So they're like a bank almost, or a stock trading company? Is there a transaction fee or acct fee or something?

A little bit of all of the above. It's the easiest to use.

[Melon]

It still boggles my mind that y'all have thousands of dollars to gamble with like that.

Also, inheritance, but I'm not using that.

[Johnny_P]

It still boggles my mind that y'all have thousands of dollars to gamble with like that.

I didn't until I bitcoined.

[rockchops]

Coinbase or GDAX (Same company)

So they're like a bank almost, or a stock trading company? Is there a transaction fee or acct fee or something?

Really similar to stocks. I used poloniex for trading (their api works great for grabbing data and modeling) but I feel like they're unable to keep up with the new volume.

Looks like gdax has really upped their api game too, maybe I'll switch over.

[D Griff]

I'm also seriously considering shorting bitcoin futures. I'm probably too risk averse, doe...the bubble popping is just too hard to predict.

How would one do that?

I mean... if it could sit for a while, you'd probably lose initially as it continues to rise, but then gain? I watched the movie but don't really understand how shorting works.

[D Griff]

You didn't read all of what I wrote, sure, it could get to $20k, $50k, $100k (pretty unlikely, IMO), but then it will burst and everyone in it will lose all of their "investment".

https://en.wikipedia.org/wiki/Dot-com_bubble

It could be an awesome "investment" for the person who sells at precisely the right time

I just know because I've gambled before that I'd be the person to hold on until it shits the bed.

How is it useless? It's literally a currency...an internet currency, that is used GLOBALLY, can be converted into ANY other physical currency or cryptocurrency, and can be used to purchase physical or virtual items. It avoids the government, and it avoids banks.

It's useless in that it's backed by nothing and has no actual, usable value. Corn has value because we can eat it. Cotton has value because we can make clothes out of it. Oil has value because we can burn it. The dollar has value because it was backed by gold for many years, and is now backed by history and confidence. BTC has none of that. Bubble.

You still haven't told me why you're not buying in .

[rockchops]

How is it useless? It's literally a currency...an internet currency, that is used GLOBALLY, can be converted into ANY other physical currency or cryptocurrency, and can be used to purchase physical or virtual items. It avoids the government, and it avoids banks.

It's useless in that it's backed by nothing and has no actual, usable value. Corn has value because we can eat it. Cotton has value because we can make clothes out of it. Oil has value because we can burn it. The dollar has value because it was backed by gold for many years, and is now backed by history and confidence. BTC has none of that. Bubble.

You still haven't told me why you're not buying in .

Gold has no inherent value. It's shiny, I guess.

[Johnny_P]

It's useless in that it's backed by nothing and has no actual, usable value. Corn has value because we can eat it. Cotton has value because we can make clothes out of it. Oil has value because we can burn it. The dollar has value because it was backed by gold for many years, and is now backed by history and confidence. BTC has none of that. Bubble.

You still haven't told me why you're not buying in .

Gold has no inherent value. It's shiny, I guess.

It's used in semiconductors and computer parts.

[goIftdibrad]

It's useless in that it's backed by nothing and has no actual, usable value. Corn has value because we can eat it. Cotton has value because we can make clothes out of it. Oil has value because we can burn it. The dollar has value because it was backed by gold for many years, and is now backed by history and confidence. BTC has none of that. Bubble.

You still haven't told me why you're not buying in .

Gold has no inherent value. It's shiny, I guess.

false. its been a medium of trade for melina. Its hard to counterfeit. its easy to measure purity. Oh yea YOU CAN HOLD IT IN YOUR HAND

[rockchops]

Gold has no inherent value. It's shiny, I guess.

It's used in semiconductors and computer parts.

Sure there are some uses for it. Chemically it's got some great properties. For ages it was used as currency though, and not much else. One maib reason it was used for currency is because of its limited quantity and effort to mine/purify. So you were paying for a chunk of finite material that had physical effort behind it. Crypto is similar in that it's algorithms are finite and effort needs to be made to mine them. To be honest I see more similarity than dissimilarity.

[rockchops]

Gold has no inherent value. It's shiny, I guess.

false. its been a medium of trade for melina. Its hard to counterfeit. its easy to measure purity. Oh yea YOU CAN HOLD IT IN YOUR HAND

And yet we use paper currency, simply a representation of gold and not actual gold.

[goIftdibrad]

false. its been a medium of trade for melina. Its hard to counterfeit. its easy to measure purity. Oh yea YOU CAN HOLD IT IN YOUR HAND

And yet we use paper currency, simply a representation of gold and not actual gold.

ha, we have paper currency, a representation of jack shit. FIAT currency. Brenton woods ended with Nixon. (IIRC).

Gold & silver are historically money. I'll go with the whole of recorded human history to make my definitions of what long term hedges against inflation are.

[wap]

But this is why it's so much like gambling.

If I'm playing craps, the thrill of the win is so exhilarating. Watching the money pile up, doubling, tripling the money I came to the table with, is intoxicating and I always want moar... Then I start losing, and think "man, I was at $300 before, I can get back up there" then it's "well, I came to this table with $100, I can get back up there" and next thing I know I'm walking away with zero. This emotion is what makes us human.

Oh man I've been there with craps.

[wap]

It still boggles my mind that y'all have thousands of dollars to gamble with like that.

It all depends how stingy you want to be with your savings. With a healthy "slush fund", losing a few K isn't the end of the world.

[wap]

And yet we use paper currency, simply a representation of gold and not actual gold.

ha, we have paper currency, a representation of jack shit. FIAT currency. Brenton woods ended with Nixon. (IIRC).

Gold & silver are historically money. I'll go with the whole of recorded human history to make my definitions of what long term hedges against inflation are.

Bretton Woods. And yes, Nixon nixed the gold standard in 1971.

Also, shells, beads, livestock, slaves, women, stones, and many other things have been used as currency throughout human history.

[Desertbreh]

ha, we have paper currency, a representation of jack shit. FIAT currency. Brenton woods ended with Nixon. (IIRC).

Gold & silver are historically money. I'll go with the whole of recorded human history to make my definitions of what long term hedges against inflation are.

Bretton Woods. And yes, Nixon nixed the gold standard in 1971.

Also, shells, beads, livestock, slaves, women, stones, and many other things have been used as currency throughout human history.

Bitcoin now worth 4.3 foine bishes.

[goIftdibrad]

ha, we have paper currency, a representation of jack shit. FIAT currency. Brenton woods ended with Nixon. (IIRC).

Gold & silver are historically money. I'll go with the whole of recorded human history to make my definitions of what long term hedges against inflation are.

Bretton Woods. And yes, Nixon nixed the gold standard in 1971.

Also, shells, beads, livestock, slaves, women, stones, and many other things have been used as currency throughout human history.

but always gold and silver.

[wap]

Bretton Woods. And yes, Nixon nixed the gold standard in 1971.

Also, shells, beads, livestock, slaves, women, stones, and many other things have been used as currency throughout human history.

Bitcoin now worth 4.3 foine bishes.

2.15 BTC per

[wap]

Bretton Woods. And yes, Nixon nixed the gold standard in 1971.

Also, shells, beads, livestock, slaves, women, stones, and many other things have been used as currency throughout human history.

but often gold and silver.

fixed
Depends on the culture.

[goIftdibrad]

but often gold and silver.

fixed
Depends on the culture.

Fuzzy line is fuzzy. Once a culture moves past tribal /hunter gatherer behavior god and silver are universally used as a trade medium.

[D Griff]

Dumb question, why is it called a fiat currency? Because Abarf?

[goIftdibrad]

Fuzzy line is fuzzy. Once a culture moves past tribal /hunter gatherer behavior god and silver are universally used as a trade medium.

And once they are industrialized they universally are not. From a libertarian economic perspective there is nothing wrong with a fiat currency at all.

libertarians hate fiat currency.

[D Griff]

And once they are industrialized they universally are not. From a libertarian economic perspective there is nothing wrong with a fiat currency at all.

hates most things.