i so agree about your gold comment. i often say i don't think i'd be able to buy a big mac with a gold bar....
----- Original Message ----- From: Steve Jones To: [email protected] Sent: Friday, November 17, 2017 10:55 PM Subject: Re: [AFMUG] BTC The world is and always will be analog. Thats why i put all my money into debt. Its the only stable market. Playing a devils advocate though, i couldnt buy a pop with a gold bar at a gas station if i wanted to either. Mark dice showed that with silver bars vs candy bars. Any money only has value if both parties understand and agree on its worth. I sold a silver dollar once for 28 dollars, because the money had lost its worth On Nov 17, 2017 10:43 PM, "Simon Westlake" <[email protected]> wrote: When the power is out, no money is money On 11/17/2017 10:42 PM, Steve Jones wrote: Til the power is out On Nov 17, 2017 10:34 PM, "Simon Westlake" <[email protected]> wrote: All money is money On 11/17/2017 10:33 PM, Steve Jones wrote: As a bubble risk investment its insane good, look at wikileaks, they had no choice and have bank. Its just not money On Nov 17, 2017 10:22 PM, "Simon Westlake" <[email protected]> wrote: It reminds me every time it goes up another $1k that I was really stupid to not mine it when it was worth 1c. I've been saying since it was worth $10 that it's gonna crash. A couple of weeks ago I said it was crazy it's at 5k, it's at 7.5k now. On 11/17/2017 10:20 PM, Steve Jones wrote: Crypto currency reminds me of those guys who are always talking about the superiority of linux and how linux is gonna dominate. Fanboydom may have many accurate examples, probably is superior, but wont dominate On Nov 17, 2017 8:51 PM, "Simon Westlake" <[email protected]> wrote: Good question, I'll have to ask my friends at Infowars. On 11/17/2017 8:50 PM, Bill Prince wrote: Wonder about yuan (Renminbi)? bp <part15sbs{at}gmail{dot}com> On 11/17/2017 6:47 PM, Simon Westlake wrote: I doubt krona, rubles, or francs were either. On 11/17/2017 6:07 PM, Steve Jones wrote: Out of curiousity, down in puerto rico, was that cryptocurrency buying any gas, water ot food? On Nov 17, 2017 4:48 PM, "Sean Heskett" <[email protected]> wrote: Hey Travis and gang, Here's a really good audiobook that does a deep dive into all things cryptocurrency. It was written by a couple of Wall Street Journalist. The link below is to audible.com. It answers a lot of the questions you are asking. ******************************************************************** Hi, I've listened to this audiobook, "The Age of Cryptocurrency: How Bitcoin and Digital Money Are Challenging the Global Economic Order" by Paul Vigna, Michael J. Casey, and thought you would enjoy it, too. It's totally free and you won't need a credit card if it is your first time accepting an Audible book from a friend. Get it here --------- After you accept the book, you will be prompted to download the Audible app to start listening. Enjoy! -Sean On Fri, Nov 17, 2017 at 1:43 PM, Travis Johnson <[email protected]> wrote: Hi, I agree with most of what you said here... however, the original premise for BTC was that everyone was tired of the "banks" controlling the money... and charging fees to do so. I just really don't see how that has changed much... I currently have 4 or 5 bank accounts, all at different banks... and I control all of them from my computer. I can send/receive/wire/transfer money in and out of any of them at my own will. Also, how is sending BTC from wallet to wallet not free? I have sent BTC to other people without being charged a fee... I was doing it from my own wallet on a computer, not using a service. For me it just doesn't make sense... I can have a totally free bank account with an ATM/VISA card that I can use anywhere and not have to worry about getting hit with fees or the value of my "money" changing every 5 seconds... and it's insured and if there is an issue (fraud, etc) the bank covers it. I get none of those features with BTC, and I have to pay a much higher "fee" to use it. The current state of BTC is not how it was envisioned when it was first created. It has become commercialized and everyone is after their 1.5% fee. :( Travis On 11/17/2017 12:28 PM, Chris Wright wrote: Many of the negative things you say here about BTC are questions I had when I was still learning. Let me clear some things up. Coinbase charges for when you want to buy BTC with fiat (USD). They have a business to run. Everyone here knows that processing debit/ACH payments is NOT free. Onboarding your US dollars to crypto currency will require a gateway, and every gate requires a gatekeeper, and every gatekeeper has mouths to feed. Sending BTC from wallet to wallet is not free. Current transaction fees on Bitcoin are ~$10 USD at the time I'm writing this. Other crypto currencies like Ethereum are more robust in this area (~$0.30 currently). Every transaction needs to be written to the blockchain, which requires mining time, electricity, and processing. Bitcoin and other cryptocurrencies are doing what the banks have been doing for years... it's an electronic ledger. What's a bank statement worth? It's only a piece of printed paper or numbers on a screen that show how much currency to which one is entitled. It has no value in and of itself. A US dollar bill is simply paper; its value is whatever we all agree it is. The *big* thing cryptocurrencies bring to the table is that your "bank account" is no longer controlled by one central building. Your account, or "digital wallet" is controlled by thousands of computers, each checking themselves against the other. The only way someone can hijack the blockchain would be if they controlled more than 50% of the compute power in the mining world. Think about how many vectors of attack from which our traditional banks are vulnerable. This video answered even more questions I didn't even think to ask... I highly recommend giving it your time. https://www.youtube.com/watch?v=bBC-nXj3Ng4 Chris Wright Network Administrator -----Original Message----- From: Af [mailto:[email protected]] On Behalf Of Travis Johnson Sent: Thursday, November 16, 2017 1:42 PM To: [email protected] Subject: [AFMUG] BTC Hi, The entire idea and goal of bitcoin was to take away the financial institutions from having "control" and charging fees to handle money. In exchange for no fees (sending or receiving BTC is free), you also have no security. Once it's sent, it's gone. However, now the banks have just been replaced with places like Coinbase... bitcoin "exchanges" that charge roughly 1.5% for every buy/sell transaction... and they take 7-10 business days to convert btc to cash or visa versa. I don't see how this is a long term thing? Once all the "mining" is being done by huge datacenters (for another 3-4 years is all), then I don't see it becoming the new money standard like everyone thinks. You will still have to pay fees, and someone else is still in control of your money. :( Travis -- Simon Westlake Email: [email protected] Phone: (702) 447-1247 US / (780) 900-1180 CA --------------------------- Sonar Software Inc The future of ISP billing and OSS https://sonar.software -- Simon Westlake Email: [email protected] Phone: (702) 447-1247 US / (780) 900-1180 CA --------------------------- Sonar Software Inc The future of ISP billing and OSS https://sonar.software -- Simon Westlake Email: [email protected] Phone: (702) 447-1247 US / (780) 900-1180 CA --------------------------- Sonar Software Inc The future of ISP billing and OSS https://sonar.software -- Simon Westlake Email: [email protected] Phone: (702) 447-1247 US / (780) 900-1180 CA --------------------------- Sonar Software Inc The future of ISP billing and OSS https://sonar.software -- Simon Westlake Email: [email protected] Phone: (702) 447-1247 US / (780) 900-1180 CA --------------------------- Sonar Software Inc The future of ISP billing and OSS https://sonar.software
