cstand Posted December 6, 2023 Share Posted December 6, 2023 9 hours ago, Carl Sagan said: Precisely because of their inflation rate, with people's money being devalued, is why Bitcoin is attractive to Argentines. Previously, the banks could simply print twice as many pesos, and the value of the money is someone's pocket would halve. But that cannot be done with Bitcoin. Mathematically its supply is limited. This is why it is "the people's money". The pesos belong to the banks and they can (and do) do what they like with them. The Bitcoins belong to the people. Gold hit record high on Monday $2,100 now just over $2,000 if the US dollar goes back to a gold standard it’s $15,000. Record buying of gold buy central banks in 2022 and 2023 https://www.marketwatch.com/amp/story/global-central-bank-gold-purchases-reach-a-record-high-for-the-first-9-months-of-the-year-603fd29d. They would be better pegging the Peso to Gold. Link to comment Share on other sites More sharing options...
Wolfie Posted December 6, 2023 Share Posted December 6, 2023 11 hours ago, Carl Sagan said: Precisely because of their inflation rate, with people's money being devalued, is why Bitcoin is attractive to Argentines. Previously, the banks could simply print twice as many pesos, and the value of the money is someone's pocket would halve. But that cannot be done with Bitcoin. Mathematically its supply is limited. This is why it is "the people's money". The pesos belong to the banks and they can (and do) do what they like with them. The Bitcoins belong to the people. I understand how the economics works but I just don't see how offering your population an alternative currency which sporadically halves in value, solves the issue of a currency that, yes, devalues, but you could argue in a more predictable way. Link to comment Share on other sites More sharing options...
Stive Pesley Posted December 6, 2023 Share Posted December 6, 2023 4 hours ago, Wolfie said: I just don't see how offering your population an alternative currency which sporadically halves in value, solves the issue of a currency that, yes, devalues, but you could argue in a more predictable way. Have you tried viewing it from the perspective of a comfortably well-off middle-aged white bloke who doesn't care about what it means for the poorest in Argentinian society, but loves any idea that means people like him might be able to prosper? That might help tinman, Crewton and cstand 1 1 1 Link to comment Share on other sites More sharing options...
cstand Posted December 7, 2023 Share Posted December 7, 2023 (edited) Bitcoin v Gold. Love this video Pomp v Shiff. Two years old. Pomp loves Bitcoin. Shiff loves gold. Loads of banter even though they disagree with each other which is exactly how life should be today. Edited December 7, 2023 by cstand NottsRam77 1 Link to comment Share on other sites More sharing options...
NottsRam77 Posted December 8, 2023 Author Share Posted December 8, 2023 On 05/12/2023 at 18:57, Stive Pesley said: the tweet doesn't exist - but the account does. Is it this that you were linking to @NottsRam77 Mmm thats weird no wasnt that, was bitcoin / crypto being discussed in parliment. Forger the chaps name but an mp calling for the uk to embrace the space as a source lf innovation … and potential tax revenues Link to comment Share on other sites More sharing options...
NottsRam77 Posted December 9, 2023 Author Share Posted December 9, 2023 On 06/12/2023 at 09:41, Stive Pesley said: It's understandable that people are sick of the crippling inflation on the peso, and will be desperate enough to vote in a populist far-right leader who promises to tear it all down and start again, but you'd have to be a special type of idiot to think that moving to BTC as legal tender will give "the people" the stability they want. The crypto bros will be rubbing their hands in glee at the idea of a nation with an adult population of 30 million, suddenly trying to buy up as much BTC as they can. No one said anything about bitcoin becoming legal tender. its seen as a store of value and a hedge against inflation. Hence why greyscale, fidelity and co are desperate to be able to offer it to their customers as part of an inflation beating portfollio… cos lets not muck about .. not a lot does right now Link to comment Share on other sites More sharing options...
NottsRam77 Posted December 9, 2023 Author Share Posted December 9, 2023 On 07/12/2023 at 17:30, cstand said: Bitcoin v Gold. Love this video Pomp v Shiff. Two years old. Pomp loves Bitcoin. Shiff loves gold. Loads of banter even though they disagree with each other which is exactly how life should be today. These are brilliant.. banter and united in the recognition that fiat money is a scam / way of keeping us all poor cstand 1 Link to comment Share on other sites More sharing options...
Stive Pesley Posted December 9, 2023 Share Posted December 9, 2023 9 minutes ago, NottsRam77 said: No one said anything about bitcoin becoming legal tender. I was referring to the tweet that turned out not to be the one you meant 😂 Link to comment Share on other sites More sharing options...
NottsRam77 Posted December 9, 2023 Author Share Posted December 9, 2023 2 hours ago, Stive Pesley said: I was referring to the tweet that turned out not to be the one you meant 😂 Apologies lol i dont think it’ll legal tender in the west anytime soon. Maybe countries like argentina and el salvador that are being held to ransom to the US dollar its a scenario that we pretty sheltered from Link to comment Share on other sites More sharing options...
Ram-Alf Posted December 14, 2023 Share Posted December 14, 2023 Crypto Decoded...on PBS. I'm learning 👍 I know of Satoshi Nakamoto, I know what Block chains are, Hash, Mining, Wallets and NFTs, I'm learning that this is about cutting the middle man out...ie Banks and credit card companies, The value of money is what Countries set it at. I'm not too sure whether I'm concerned or confident or will this be the new discovery of the wheel, It's moving along at a pace, Not sprinting yet as there looks to be a hell of a lot of work to get this down to the people. Time will tell I guess...it looks to be the future...I think 🤷♂️ Link to comment Share on other sites More sharing options...
NottsRam77 Posted January 10 Author Share Posted January 10 By the time we all wake up tomorrow morning the odds are that “that bitcoin thing” iv been bleating on here since it was at 19k (now 46k) will be as much of a global financial asset as gold, stocks and share or the very four walls your living in. etf approval imminent… its a real thing folks, every hedgfund and pension provider on the planet will soon be offering in their pension portfolios im still Here and happy to talk to anyone that wants to know more about it out and what not to do, and how to stay safe YouRams 1 Link to comment Share on other sites More sharing options...
NottsRam77 Posted January 10 Author Share Posted January 10 On 06/12/2023 at 10:03, cstand said: Gold hit record high on Monday $2,100 now just over $2,000 if the US dollar goes back to a gold standard it’s $15,000. Record buying of gold buy central banks in 2022 and 2023 https://www.marketwatch.com/amp/story/global-central-bank-gold-purchases-reach-a-record-high-for-the-first-9-months-of-the-year-603fd29d. They would be better pegging the Peso to Gold. Isnt going to be long before they start buying up the best performing global asset https://www.longtermtrends.net/bitcoin-vs-gold/ Link to comment Share on other sites More sharing options...
NottsRam77 Posted January 10 Author Share Posted January 10 Its happened welcome to the new financial world everyone 🙌🙌🙌 Link to comment Share on other sites More sharing options...
i-Ram Posted January 10 Share Posted January 10 2 hours ago, NottsRam77 said: By the time we all wake up tomorrow morning the odds are that “that bitcoin thing” iv been bleating on here since it was at 19k (now 46k) will be as much of a global financial asset as gold, stocks and share or the very four walls your living in. etf approval imminent… its a real thing folks, every hedgfund and pension provider on the planet will soon be offering in their pension portfolios im still Here and happy to talk to anyone that wants to know more about it out and what not to do, and how to stay safe Tamworthram and GboroRam 1 1 Link to comment Share on other sites More sharing options...
NottsRam77 Posted January 10 Author Share Posted January 10 20 minutes ago, i-Ram said: Your loss… literally lol Link to comment Share on other sites More sharing options...
Wolfie Posted January 11 Share Posted January 11 10 hours ago, NottsRam77 said: Your loss… literally lol Until the next "halving" at least Link to comment Share on other sites More sharing options...
Comrade 86 Posted January 11 Share Posted January 11 I think folk are a bit dismissive of @NottsRam77 and I don't really understand why. Had anyone listened, they'd be able to cash out, right here, right now at a @£26K gross profit on every £13K traded and this in a bear market too. If tripling your nut in 12 months without doing any work at all isn't for you, fair enough, maybe you just don't like money, but let's not try to pretend he wasn't right about the market's short-term future, at very least, as the facts clearly say otherwise. NottsRam77 1 Link to comment Share on other sites More sharing options...
Returning ram Posted January 11 Share Posted January 11 2 minutes ago, Comrade 86 said: I think folk are a bit dismissive of @NottsRam77 and I don't really understand why. Had anyone listened, they'd be able to cash out, right here, right now at a @£26K gross profit on every £13K traded and this in a bear market too. If tripling your nut in 12 months without doing any work at all isn't for you, fair enough, maybe you just don't like money, but let's not try to pretend he wasn't right about the market's short-term future, at very least, as the facts clearly say otherwise. Yes and no. It may be easier now, but I suspect not by much, however converting that profit into cash will not be easy. Restrictions around SOF with our FIs make it difficult to convert large holdings of Bitcoin into cash. Therefore, you are stuck with keeping your money within the crypto system. Dont get me wrong, you could still pay for things, but making money from a system that is known for paying for illegal transactions also has its downside. That said, i wish I had the "balls" to invest in it, I have a mate who has made just over a million from it, has retired and lives from the profits he continues to make from it, there is still no denying though, its high risk. Link to comment Share on other sites More sharing options...
Comrade 86 Posted January 11 Share Posted January 11 22 minutes ago, Returning ram said: Yes and no. It not yes and no though, is it? The facts are there for all to see. The lad said the market would bounce and it has. That's inarguable. 22 minutes ago, Returning ram said: Restrictions around SOF with our FIs make it difficult to convert large holdings of Bitcoin into cash. Therefore, you are stuck with keeping your money within the crypto system. Eh? Mate, I can buy or sell in about 5 clicks on my phone. Have you ever traded Bitcoin, or any other altcoin? If not, what are you basing this on? Market liquidity is not even an issue at the bottom of the curve and midst bear market and the current market cap is still nigh on $1Trillion. The only 'burden' involved is tax planning, akin to liquidising any other major shareholding or asset. 27 minutes ago, Returning ram said: Dont get me wrong, you could still pay for things, but making money from a system that is known for paying for illegal transactions also has its downside. This is very confused thinking, I'm afraid and I sense you're not for turning, so...... I'm going to duck out at this point and leave the other fella to try fight the good fight as I'm nowhere near as charitable, nor patient as he is. Link to comment Share on other sites More sharing options...
Stive Pesley Posted January 11 Share Posted January 11 Am I missing something? Yes it had a big spike earlier, but it's already back to what it was 24 hours ago Link to comment Share on other sites More sharing options...
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