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  1. #1021
    Join Date
    Sep 2007
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    Quote Originally Posted by CrazyNotCrazie View Post
    The corollary to that are those who claim to be "curious" or "asking lots of questions" who are constantly looking for a new narrative to displace established ways of looking at things not because they are smarter than others (though they think they are) or are truly curious (I'm all for asking good questions) but because various charlatans and hucksters have told them the current system doesn't work for them, established institutions like the government and "mainstream media" are lying to them, and they need to find another answer that will confirm this fact.
    The most popular “news” pundit on television makes a living doing this, surely, he’s not a charlatan….

    I mean, I’m just asking the question.

  2. #1022
    Join Date
    Sep 2007
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    Undisclosed
    Quote Originally Posted by Jeffrey View Post
    You ain't gonna learn what you don't want to know.
    You are right from your side,
    I am right from mine . . . .

  3. #1023
    Join Date
    Sep 2007
    Location
    Undisclosed
    “Confusion Prince is at my door
    The crown I wear is the one he wore
    He's here to bring me down some more
    And bend my mind”

  4. #1024
    Join Date
    Nov 2020
    Location
    Western NC
    Quote Originally Posted by OldPhiKap View Post
    You are right from your side,
    I am right from mine . . . .
    I don't think I'll ever "get" crypto. I guess

    I'm one too many mornings
    And a thousand miles behind

  5. #1025
    Join Date
    Sep 2007
    Location
    Undisclosed
    Quote Originally Posted by Section 15 View Post
    I don't think I'll ever "get" crypto. I guess

    I'm one too many mornings
    And a thousand miles behind
    It's a restless hungry feeling
    That don't mean no one no good
    And ev'rything that I'm sayin'
    You can say it just as good….

  6. #1026
    Join Date
    Nov 2020
    Location
    Western NC
    Quote Originally Posted by OldPhiKap View Post
    It's a restless hungry feeling
    That don't mean no one no good
    And ev'rything that I'm sayin'
    You can say it just as good….
    Why, thank you!

  7. #1027
    Join Date
    Sep 2007
    Location
    Undisclosed
    Quote Originally Posted by Section 15 View Post
    Why, thank you!
    Don’t get too big for your britches though, or I’ll bust out some Idiot Wind. . . .

    ;-)

  8. #1028
    Join Date
    Mar 2007
    Location
    Boca Grande Florida
    Quote Originally Posted by snowdenscold View Post
    Wheat, did you read any of the links I posted in my most recent post? Because I actually read both of yours, though they did nothing to change my mind or address anything in my links. Your initial "nasdaq" article (really just a re-print / cross-publish from Bitcoin magazine) talk of channel capacity was a big "so what?".
    I did read those links and they bring up issues that are currently being addressed by the developers in this emerging technology…..as far as I can tell with my research.

    There’s not a perfect monetary system out there, just yet. I’ll grant you that.

  9. #1029
    Join Date
    Mar 2007
    Location
    Boca Grande Florida
    Quote Originally Posted by Kdogg View Post
    Problem with the content:

    At the start it claims BIS meeting of all 63 members is rare and only in times of crisis. FALSE. BIS actually has an annual meeting...wait for it...EVER YEAR.
    https://www.bis.org/events/agm_info.htm


    They also hold bimonthly meetings in...wait for it...Basil.

    If you are starting off with a falsehood everything that follows is suspect (also he's from Hackney but that's my personal prejudice). This whole video plays on fears and conspiracies to generate views. Also if anyone equates central banks ensuring liquidity as "money printing" they are...to be kind...uniformed. Central bank monetary policies expand and contract the money supply so both "printing" and "burning." It's a two way street.
    I’m not here to defend the accuracy of some “Guy” on YouTube. I posted his videoed thoughts because it should make us all consider the possible problems to come with CBDC’s.

    We are entering new territory when it comes to new forms of digital money. There are some serious concerns out there.

    “ A majority of the commenters were specifically concerned about the risk to financial privacy, the risk of financial oppression, and the risk of destabilizing the financial system.

  10. #1030
    Quote Originally Posted by Wheat/"/"/" View Post
    I’m not here to defend the accuracy of some “Guy” on YouTube. I posted his videoed thoughts because it should make us all consider the possible problems to come with CBDC’s.

    We are entering new territory when it comes to new forms of digital money. There are some serious concerns out there.

    “ A majority of the commenters were specifically concerned about the risk to financial privacy, the risk of financial oppression, and the risk of destabilizing the financial system.
    By posting it you give it, at minimum, an implicit endorsement. It's disingenuous to provide the video without any verification of the information or at least a disclaimer especially for a video that starts off with misinformation (in this case a flat out lie) and then further peddles conspiracies about central banks wanting to control your grocery purchases. It's also dangerous and opens a rabbit hole where at the end someone will start to believe the world is flat.

    I think I've made it clear than I am not anti-Bitcoin or anti-crypto or anti-digital what's to come. What I am is a realist and a skeptic that's against misinformation and preying on people's fears, emotions and nescience. I can't defend the whole of the internet but I can plant a flag here and defend this small corner of it. And honestly this place probability doesn't need it. We are a unique community that's probably not prone to being mislead. I just want people to understand what Bitcoin is...the risks...the mechanics...the potential...the consequences...the pitfalls. Most of the information (especially YouTube but also TikTok, Telegram, etc.) all herald it as some hypothetical dystopian savior. That's not it.

  11. #1031
    Quote Originally Posted by Kdogg View Post
    I can't defend the whole of the internet but I can plant a flag here and defend this small corner of it. And honestly this place probability doesn't need it. We are a unique community that's probably not prone to being mislead. I just want people to understand what Bitcoin is...the risks...the mechanics...the potential...the consequences...the pitfalls. Most of the information (especially YouTube but also TikTok, Telegram, etc.) all herald it as some hypothetical dystopian savior. That's not it.
    Strongly agree!

    In general, I believe the DBR community does an excellent job addressing bogus and misleading posts and posters. This is a very important subject (financial security) and this thread should be no exception.

  12. #1032
    Quote Originally Posted by OldPhiKap View Post
    “Confusion Prince is at my door
    The crown I wear is the one he wore
    He's here to bring me down some more
    And bend my mind”
    “The friendly stranger call my name
    He only wants me for his game”

  13. #1033
    Bitcoin at it’s essence is just a method to move numbers around. Nothing more, nothing less.

    Those numbers, unlike a dollar, have no intrinsic value. Any value they have depends completely on the stories that are being told about the numbers. Stories that need constant reinforcement via proselytizing or else they collapse into the nothingness they are.

    Prove me wrong.

  14. #1034
    Join Date
    Jan 2010
    Location
    Outside Philly
    Quote Originally Posted by Skydog View Post
    Bitcoin at it’s essence is just a method to move numbers around. Nothing more, nothing less.

    Those numbers, unlike a dollar, have no intrinsic value. Any value they have depends completely on the stories that are being told about the numbers. Stories that need constant reinforcement via proselytizing or else they collapse into the nothingness they are.

    Prove me wrong.
    Does a dollar have intrinsic value? It has a face value and a relative value but no intrinsic value (in and of itself).

  15. #1035
    Join Date
    Sep 2007
    Location
    Undisclosed
    Quote Originally Posted by bundabergdevil View Post
    Does a dollar have intrinsic value? It has a face value and a relative value but no intrinsic value (in and of itself).
    It may be a fiat currency, but it is backed by the full faith and credit of an extremely robust economic engine.

  16. #1036
    Join Date
    Jan 2010
    Location
    Outside Philly
    Quote Originally Posted by OldPhiKap View Post
    It may be a fiat currency, but it is backed by the full faith and credit of an extremely robust economic engine.
    Sure, and that’s what I meant to imply with it having a face value (assigned by the government) and relative value (assigned by the markets and time).

    Bitcoin has relative value but no intrinsic or face value.

  17. #1037
    Quote Originally Posted by bundabergdevil View Post
    Does a dollar have intrinsic value? It has a face value and a relative value but no intrinsic value (in and of itself).
    By law, in the US cash has to be accepted to pay any debt you owe, public or private. A merchant can refuse dollars in payment for an item but if you owe the merchant (or the government) he/she/they cannot legally refuse payment in dollars. The legal tender law gives dollars value backed by our judicial system and law enforcement agencies. The dollars value for debt payment is not dependent on youtubers and celebrities convincing us it has value.

  18. #1038
    Join Date
    Sep 2007
    Location
    Undisclosed
    Quote Originally Posted by Skydog View Post
    By law, in the US cash has to be accepted to pay any debt you owe, public or private.
    Yeah? Try paying your income tax in pennies.

  19. #1039
    Bitcoin has been up and down five percent every day (sometimes mutiple times a day) for about a month. Is someone getting rich on that action?

  20. #1040
    Quote Originally Posted by Mtn.Devil.91.92.01.10.15 View Post
    Bitcoin has been up and down five percent every day (sometimes mutiple times a day) for about a month. Is someone getting rich on that action?
    Definitely! OTOH, someone is getting poor.

    The only guaranteed winner is the house (if, prudently operated).

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