Bitcoin

Multi Sport said:
Yes..
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My pal got in early, early on and has done very well in this industry. He doesn't brag at all, he just is super smart, wise and always seems to pick winners. Buy low, sell high and he does that very well all the time. Dude bought low, sold high. Bought low, sold high. He sold Disney way before they went super low. He will not by any Disney for personal reasons. I love him so much. His parents were good friends with my foster mom and he just inherited or will soon a house on the beach worth over $20 Million. He owns another beach house where he and his lovely family live now. He told me he loves my idea of "A Day at the Bay" for kids who have been through a tough life. He knows 100% he was blessed to be born into wealth and with two loving parents who did not use drugs in the 60s. My other buddy just pulled his money out and lost his ass. Impatient and full of fear. 10% penalty too plus Tax. All because of fear.
 
Multi Sport said:
And Bitcoin does? You should be able to answer that...since you read the white paper.
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As you should know by now, the Bitcoin white paper makes no mention of a speculative bubble market in the perceived value of the coins. They are defined simply as a trusted and yet anonymous vehicle of commerce.
 
Multi Sport said:
And?
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The hidden cost of Bitcoin is that"miners" are paid (in Bitcoin, of course) for executing the technological exercises that are behind the security of the Bitcoin transactions. The more mining they do, the more they get paid, so there is competition among miners to do the most work, which means bigger and faster computers set up as Bitcoin servers and a correspondingly large electrical demand.

Texas doesn't have spare power in the summer -- they need it for the air conditioners.
 
"Zhu and Davies are two ambitious young men, by all descriptions exceedingly smart, who appeared to understand the structural opportunity of digital currency rather well: that crypto is a game of creating virtual fortunes out of thin air and convincing other humans with traditional forms of money that those virtual fortunes deserve to be real-world ones. They built social-media cred by playing the part of billionaire financial geniuses, translated that to actual financial credit, then put billions of dollars in borrowed money to work in speculative investments they could cheerlead to success with their large, influential platforms. Before you know it, the pretend billionaire is a real billionaire shopping for super-yachts. They grokked the game, and the plan worked perfectly — until it didn’t. "

 
espola said:
The hidden cost of Bitcoin is that"miners" are paid (in Bitcoin, of course) for executing the technological exercises that are behind the security of the Bitcoin transactions. The more mining they do, the more they get paid, so there is competition among miners to do the most work, which means bigger and faster computers set up as Bitcoin servers and a correspondingly large electrical demand.

Texas doesn't have spare power in the summer -- they need it for the air conditioners.
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Hidden cost?? Lol.
 
espola said:
The hidden cost of Bitcoin is that"miners" are paid (in Bitcoin, of course) for executing the technological exercises that are behind the security of the Bitcoin transactions. The more mining they do, the more they get paid, so there is competition among miners to do the most work, which means bigger and faster computers set up as Bitcoin servers and a correspondingly large electrical demand.

Texas doesn't have spare power in the summer -- they need it for the air conditioners.
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And?
 
espola said:
"Zhu and Davies are two ambitious young men, by all descriptions exceedingly smart, who appeared to understand the structural opportunity of digital currency rather well: that crypto is a game of creating virtual fortunes out of thin air and convincing other humans with traditional forms of money that those virtual fortunes deserve to be real-world ones. They built social-media cred by playing the part of billionaire financial geniuses, translated that to actual financial credit, then put billions of dollars in borrowed money to work in speculative investments they could cheerlead to success with their large, influential platforms. Before you know it, the pretend billionaire is a real billionaire shopping for super-yachts. They grokked the game, and the plan worked perfectly — until it didn’t. "

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Wow! I wonder if something like this has ever happened before...
 
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