Crypto Currency

Discussion in 'West Mall' started by AC, Mar 25, 2020.

  1. iatrogenic

    iatrogenic 2,500+ Posts

    Like I asked you last time, I need a couple satoshis to go buy some paper towels at Kroger. How can I get them?
     
  2. Dionysus

    Dionysus Cocky + Relaxed Admin

    Square Cash App
     
  3. iatrogenic

    iatrogenic 2,500+ Posts

    Well that makes me feel comfortable. How do I transfer them to Kroger? Square Cashier App?
     
    • Like Like x 1
  4. Dionysus

    Dionysus Cocky + Relaxed Admin

    Only if you sell. Unrealized gains are not taxable.
     
  5. AC

    AC 1,000+ Posts

    Busy working, thanks for answering all that Dion.
    I’m still trying to reconfigure my company for better online sales. Also we’re going to start taking bitcoin for payment online. Right now I’m updating all packaging to sell on amazon and Facebook marketplace. I found competitors in LA doing this. Lots of work to do updating banners, online videos, then buying ads in a month. Apparently, selling small products easy to ship exponentially out performs my 2,000 lb carbon vessels etc. I have to adjust! My Facebook ads will drive traffic to my website where customers can pay in bit coin. I’m sure most will remain USD now. Lots of opportunity in this new environment.
     
  6. AC

    AC 1,000+ Posts

    Just like stocks.
     
    • Like Like x 1
  7. AC

    AC 1,000+ Posts

    Can’t you scan from your phone from the square cash app? For instance at Kroger.
     
  8. iatrogenic

    iatrogenic 2,500+ Posts

    If you are asking me, I plead "old guy".
     
    • Like Like x 2
    • Funny Funny x 2
  9. AC

    AC 1,000+ Posts

    No but Dion knows. Plus learning about BTC will make you cool to grandkids, your children or maybe your wife. Not sure about that last one.
     
    • Agree Agree x 1
    • Funny Funny x 1
  10. Dionysus

    Dionysus Cocky + Relaxed Admin

    One of the best solutions to consider for this is BTCPay Server. Nicolas Dorier and his team have done great work.
     
    • Like Like x 2
  11. AC

    AC 1,000+ Posts

    • Like Like x 1
  12. Monahorns

    Monahorns 2,500+ Posts

    It wasn't arbitrary at all. Gold and Silver won out because they were better currencies. It was a market competition, and they won. It is no more arbitrary than VCR winning over Betamax.

    People still believe in the value of gold and silver. They do because they have value outside of being money, unlike paper.

    Your statement is untrue though. Because over centuries only other commodities were used as money after the previous one was discarded. The best money won out over time. That isn't an argument against commodity money. It is the history of how we arrived at the best ones.

    Your thinking is all twisted up. Sure some commodities were discarded, but fiat currency didn't exist until 1971.

    You don't see it but many others do. Listen to them.
     
    • Like Like x 1
  13. AC

    AC 1,000+ Posts

    Eventually fiat currency will lose out to “something else”. Since 2008 too many central banks have been printing there way out of a recession. US, UK, Ireland, Greece, Germany, Italy and many others. When more currencies see deflation and therefore Global Economies see inflation whereby food & real estate become too expensive for the middle class. That’s when we’ll see fiat currency get dumped for “something else”. So far that appears to be BTC. There may be other crypto currencies that get that strong like Ethereum but my moneys on BTC. Maybe some countries will go back to the Gold standard. But I don’t see that as sustainable. And some countries will create there own crypto currencies, but I see BTC as by far the strongest. Fiat currency is in its death throws, but I’m sure we’ll string it out as long as possible. 5 years, 10 years? It’s coming!
     
  14. iatrogenic

    iatrogenic 2,500+ Posts

    “The best money won out over time”. What money would that be? That answers the question of why would anyone believe in crypto currency as a commodity money that will win the day. Been there, done that. Just like Lyft and Uber are computerized versions of the jitney, the bitcoin commodity money idea is not new. It is today’s “sea shell” , but it sounds “cool” with terms like “block chain”. Take away the bells and whistles and you are left with a failed idea that could not and cannot survive.
     
  15. Dionysus

    Dionysus Cocky + Relaxed Admin

    You’re just trolling now but it makes the thread entertaining
     
    • Funny Funny x 1
  16. iatrogenic

    iatrogenic 2,500+ Posts

    Just don’t want you boys to lose your cabbage. Not to many new things in the world.
     
    • Agree Agree x 1
  17. AC

    AC 1,000+ Posts

    Why does square cash app say I reached my limit on buying bit coin? Plenty in my business account, it won’t let me buy anymore? I had to buy with cash app and transfer to my cold storage wallet could not use a Debit card.
     
  18. Dionysus

    Dionysus Cocky + Relaxed Admin

    I know that Cash App places some daily & monthly caps on this. It says so in the app. I don’t know why though.
     
  19. iatrogenic

    iatrogenic 2,500+ Posts

  20. Austin_Bill

    Austin_Bill 1,000+ Posts


    I submit that because Crypto currency has it's value based on the black market, it is probably a more valuable currency than our own dollar. Black market has been around forever and isn't going away, crypto currency will maintain it's value much longer than any domestic or foreign currency. The real question is, what a normal person can do with it. Obviously you can't use it at the grocery store or to pay your mortgage here. This is where its usefulness ends. This is what fuels my apprehension with getting into bitcoin. How liquid is it?
     
    • Agree Agree x 1
  21. iatrogenic

    iatrogenic 2,500+ Posts

    Why would a black market commodity used as a currency have more value than an actual currency used and accepted world wide?
     
  22. Austin_Bill

    Austin_Bill 1,000+ Posts

    Government manipulation of said currency. Most of the major underbelly transactions for drugs, guns etc are done in crypto currency under the radar of government law enforcement. Hell, I'd be willing to bet our government is using crypto currency to buy and sell stuff they don't want tracked by congress. It's probably the purest form of Capitalism left on the planet.
     
    • Agree Agree x 1
  23. AC

    AC 1,000+ Posts

    Kernel has bitcoin atm’s in Dallas, Houston, and LA. Kernelatm.com.
    Square cash app lets you buy it on your phone and transfer to a safe offline wallet like Trezor. I just received my Trezor from amazon on Friday. Crypto writers think it will go to $20K by 12/31/2020. Some billionaires are putting up 20MM to 80MM to get in cheap! Some more than that I’m sure. It’s a good investment. I don’t buy gas or food with it. I sit on it and watch the price.
     
  24. iatrogenic

    iatrogenic 2,500+ Posts

    Hmmmmm...
     
  25. Dionysus

    Dionysus Cocky + Relaxed Admin

    Bitcoin has taken a Covid-19 hit along with all other asset classes as people escape to cash in a crisis, but over the longer term I think it could retain value as an uncorrelated asset.
     
  26. Dionysus

    Dionysus Cocky + Relaxed Admin

    And the common use cases like buying everyday things are not here, but Layer 2 solutions like the Lightning Network are being built for this purpose. It allows for high transaction volumes in smaller amounts off the main blockchain (second layer), and then does on-chain settlement later. This is the micropayments option.
     
  27. iatrogenic

    iatrogenic 2,500+ Posts

    That’s a better sales pitch than, “criminals use it”.
     
    • Funny Funny x 2
    • Like Like x 1
  28. Dionysus

    Dionysus Cocky + Relaxed Admin

    Another good thing about USD is that it’s not used for criminal activity
     
    • Funny Funny x 1
  29. AC

    AC 1,000+ Posts

    Hands up! Gimme your money. Esse he says he only has USD! What, let him go. We only take Bit Coin now esse!
     
    • Funny Funny x 3
  30. Dionysus

    Dionysus Cocky + Relaxed Admin

    What if the criminals found out they can use dollars to buy drugs and such? That would be a shameful stain on USD and others would stay away from it.
     
    • Funny Funny x 1

Share This Page