Bitcoins to the moon - Page 14

On June 15 2022 02:35 lostaccount wrote: Show nested quote + On June 15 2022 02:12 RiKD wrote: Is it though? It is what it is

What is gold used for better tech?

Let's say an iPhone sized bar of gold is $5,000 USD (close to accurate). You have to get your buddy in Tokyo the equivalent of $5,000 USD as soon as possible. Are you going to wire it? Are you going to send $5,000 USD cash? Are you going to ship the iPhone sized bar of gold? Are you going to ship BTC? Are you going to do something else?

You would rather money be backed by gold versus hyper-bitcoinization or something like that?

On June 15 2022 02:12 RiKD wrote: Is it though?

Gold is an excellent conductor and used to carry voltages on boards. It would be an extremely tiny amount though.

Dow / sp500 nearly back to pre-covid levels

If you consider inflation?

People are going to feel good about themselves if they are sitting on good gains, or sold at the right time, or bought at the right time. Which matters of course but all that matters now is what next?

Yes, I do have a garden. It is a fun hobby. Cheers. I just grew some lettuce. It was pretty swell but the yield was not great. Got like 3-4 salads out of it.

On June 15 2022 02:59 RiKD wrote: You would rather money be backed by gold versus hyper-bitcoinization or something like that?

Money is backed by trust, not gold or bitcoins. It used to be backed by gold because of how the banking system evolved, but eventually, people realized you don't need to do that. If there's a huge run on the bank, no bank is going to start digging into some gold supply stored away in a vault. They are going to ask the government for a stimulus package.

Gold is only really useful if society collapses and people need something to barter with. But then again you could use any number of alternatives.

Corporate America is being increasingly attacked by the ransomware industry. I wouldn't expect crypto to be looked favorably by those in power if Russians continue to evade detection by having their ransom money get paid in crypto.

Also hilarious that people are trying to sue celebrities for hyping up crypto. What a clown fest this is.