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  #16   Spotlight this post!  
Unread 12-13-2017, 04:04 AM
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gorrilla gorrilla is offline
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Re: #VEXproChristmas

Quote:
Originally Posted by mrnoble View Post
My former coaching partner just paid off her truck loan with the zero value currency that is being discussed here. Bubble or no, I'll leave that to economists rather than yahoos in CD.
Car dealerships and financing companies are accepting btc for loans now? Ya right.and if your friend used profits from btc to pay off a truck loan, which could very easily be over $10k, the IRS is probably going to be very interested in finding out weather or not everything is being reported correctly.
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Last edited by gorrilla : 12-13-2017 at 04:18 AM.
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Unread 12-13-2017, 05:15 AM
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mrnoble mrnoble is offline
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Re: #VEXproChristmas

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Originally Posted by gorrilla View Post
Car dealerships and financing companies are accepting btc for loans now? Ya right.and if your friend used profits from btc to pay off a truck loan, which could very easily be over $10k, the IRS is probably going to be very interested in finding out weather or not everything is being reported correctly.
Since you don't know my ethical friend, I'll limit the ceiling on my offence at your statement to that of your level of ignorance. She is well aware of how taxes work, as am I. She, like me, is a single parent teacher of limited means, and she bought a few dozen coins years ago to hold and see what would happen. She got lucky, and I celebrate with her and don't begrudge her a moment of ease, whether because of a bubble or no.
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Last edited by mrnoble : 12-13-2017 at 05:26 AM. Reason: Clarity
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Unread 12-13-2017, 06:13 AM
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Re: Bitcoin

This thread was split off from the VEXmas thread in some attempt to keep that thread vaguely civil and on-topic. I canít replace the OP of this thread with a post created later than it, so the explanation has to go here. Sorry for the confusion and inconvenience.
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Unread 12-13-2017, 07:12 AM
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Re: Bitcoin

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Originally Posted by Chris is me View Post
This thread was split off from the VEXmas thread in some attempt to keep that thread vaguely civil and on-topic. I canít replace the OP of this thread with a post created later than it, so the explanation has to go here. Sorry for the confusion and inconvenience.
I did a thing. I like how now Iím the owner of this subject... me and my dumb jokes...
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Unread 12-13-2017, 07:12 AM
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Re: Bitcoin

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Originally Posted by Chris is me View Post
This thread was split off from the VEXmas thread in some attempt to keep that thread vaguely civil and on-topic. I canít replace the OP of this thread with a post created later than it, so the explanation has to go here. Sorry for the confusion and inconvenience.
Wait wait wait
You created a thing ... well, a virtual thing ... and then after its creation, and several people opined about it, you established its worth and reason for existence?

Dude that Is So Meta, Even This Acronym
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Unread 12-13-2017, 07:29 AM
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Re: Bitcoin

This is a valuable thread. If it grows too large and off topic again, and we need to split it again, can the original stakeholders retain a larger share?
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Unread 12-13-2017, 07:34 AM
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Re: Bitcoin

Quote:
Originally Posted by mrnoble View Post
This is a valuable thread. If it grows too large and off topic again, and we need to split it again, can the original stakeholders retain a larger share?
The important thing is that we make sure people who turned on a computer in 2008 end up with millions and millions of dollars for practically no effort or opportunity cost whatsoever. Remember kids, itís not a pyramid scheme if venture capitalists think itís cool.
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Unread 12-13-2017, 07:38 AM
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gorrilla gorrilla is offline
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Re: Bitcoin

Quote:
Originally Posted by Chris is me View Post
The important thing is that we make sure people who turned on a computer in 2008 end up with millions and millions of dollars for practically no effort or opportunity cost whatsoever. Remember kids, it’s not a pyramid scheme if venture capitalists think it’s cool.
I should open a stand, and you can give me your dollars, and in return I'll give you a worthless piece of garbage and make sure you get all your friends to "invest" in my garbage so the price goes up, then you can exchange my garbage for dollars to some other guy you get to put in money! It's not a Ponzi scheme bro!

Edit: also make sure you or your friends don't accidentally lose my garbage because there's no way to get it back, oh yeah and by the way since I started the garbage stand I get to keep a large majority of the garbage that you now have made worth a ton of money!
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Unread 12-13-2017, 07:41 AM
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Re: Bitcoin

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Originally Posted by marshall View Post
I did a thing. I like how now Iím the owner of this subject... me and my dumb jokes...
So how much is this worth in bitcoins? Tulips?
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Unread 12-13-2017, 07:48 AM
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Re: Bitcoin

RES TANTUM VALET QUANTUM VENDI POTEST

This topic is older than tulip bulbs.
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Unread 12-13-2017, 08:22 AM
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Re: Bitcoin

OK since this has been split off into a different thread, I will weigh in. It seemed silly for me to perpetuate the off-topic discussion in a thread about products from my company.

Those of you that know me know that my other "hobby" outside of robots is investing and finance. I actually advise several of my co-workers and friends on their investing needs.

In any case, those of you that think cryptocurrencies are not here to stay, then you are not alone. You also need to educate yourself on cryptocurrencies and how they can change the way we pay for goods and services.

The US Dollar has been the standard that all other currencies and commodities are valued at. This began mainly because the USD was backed by actual gold. There are other factors, but the fact that we couldn't just turn on the printing presses unless there was a gold reserve locked up somewhere made the USD a tangible, scarce thing.

Have you heard of quantitative easing? This is, basically, the printing of USD. Literally turning on the printing presses to put more USD into circulation. When this is done the USD becomes less valuable when compared to other currencies.

As cryptocurrencies began to be mainstream (Banf of America and other major banks are considering storing Bitcoin, LiteCoin, and Ethereum) and will be accepted forms of payment by more and more companies, they will be considered by more and more governments as legal tender.

The key to all cryptocurrencies is the blockchain and its security and max qty produced. Different cryptos have different max qty. I believe Bitcoin is 21 million btc ever able to be produced. They are around 16 million right now.

I believe the blockchain will take over as the way to send money (btc, ltc, eth, whatever) within the next 20 years. It will replace the wire transfer and ACH.

While I believe there is a massive short term bubble as speculators "cash out", especially in btc, the cryptocurrency revolution is real... maybe not this year, but in the long haul.

I do not own any btc, but I do own LTC and ETH. In my opinion ETH will be the future of corporate transactions and money exchange.

Anyway, my 2 cents.

Paul
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Unread 12-13-2017, 08:31 AM
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gorrilla gorrilla is offline
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Re: Bitcoin

Quote:
Originally Posted by Paul Copioli View Post

I do not own any btc, but I do own LTC and ETH. In my opinion ETH will be the future of corporate transactions and money exchange.

Anyway, my 2 cents.

Paul
Why would a company ever use a non-insured way to transfer their money? Also a lot of large businesses already have their own Banks, like tdecu for example.
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Unread 12-13-2017, 08:41 AM
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Re: Bitcoin

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Originally Posted by Paul Copioli View Post
Anyway, my 2 cents.
Anybody else find it telling that the medium he used to place value on his own intellect was hard currency?
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Unread 12-13-2017, 09:27 AM
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Re: Bitcoin

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Originally Posted by Paul Copioli View Post
In my opinion ETH will be the future of corporate transactions and money exchange.
Paul Copioli supports Etherum & Litecoin, price skyrockets. Coincidence? I think not.

Cryptocurrencies aren't going away anytime soon. You can ignore them if you want or throw a small portion of your portfolio at it on the chance that it continues to have massive growth. I know which way I'm going.

There are quite a few currencies with more being created everyday. Some of these coins do some pretty neat things, it's worth researching and throwing a few dollars at some of them - https://coinmarketcap.com/
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Unread 12-13-2017, 11:36 AM
Oblarg Oblarg is offline
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Re: Bitcoin

At this point, the only people left in bitcoin are gullible libertarians and fraudsters, basically.

I'm not sold on the idea of cryptocurrencies in general, but bitcoin in particular cannot function as a useful currency for many obvious reasons.

It'll be mildly humorous watching people's surprise when the next major exchange goes down in flames because the people running it figure they have enough money for it to make sense to disappear.
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