End of Crypto?

[EEpro]

Using abandoned mine shafts as massive batteries is a good idea I saw recently.

The energy was already spent on the deep hole. Alternators (regen brakes for example) can capture kinetic energy as a mass is lowered during times of need. During surplus the mass is raised using electric motors.

[Maleg]

Originally Posted by INC

OK, let's play this game

Please let me ask you, how many gold coins do you have at home? If there are a lot, how do you think you'll actually be able to use them to pay with these? Let's say how would you like or how will you be able to buy eggs, bread, ammunition, fuel, water, or even electricity with these? How would you pay the exact amount? Or how will you get back the rest of your money?

You know, when gold was used as the currency, then these were the highest valued coins and there were always plenty of other cheaper metal coins, like silver or copper. Gold in itself cannot be a means of payment, because physical gold in this form nowadays can't have a value and cannot be used for this purpose. Not least because there is not enough gold in the world to handle all the barter trades with this alone.

Odd that you think people will be stepping up to a pay window to settle their electric bill in a post apocalyptic world. It’s as if you think nothing changes except the means of payment. None of the activities you mention would exist anymore.

People in subsistence cultures don’t barter with currency. They barter face to face with things. People willing to exchange goods for gold will know it when they see it.

[Mifune]

Banks... borrowing at a historic rate!

[superdog]

Originally Posted by Mifune

Banks... borrowing at a historic rate!

BOA says this is the bubble. Banks. Again.

Can’t imagine this ends well.

[EEpro]

So this is the beginning of crypto then.

I guess I should own more than $5,000 of bitcoin

Maybe I'll buy one singular bitcoin on the next dip. I passed on them at $16 in favor of silver in 2016. Why not pay $28,000 now.

[pickettt]

Originally Posted by EEpro

This is indeed why they took us off the gold standard. To allow unlimited expansion of their spending schemes without the embarrassment of publicly marking the dollar down against that standard. It's stealth taxation of the fruits of our labor without consent.

Even more disgusting is how a certain half of people in government speak about productive people and letting them keep their own money as if it's stealing from government.

Thank you, and thank you.

[pickettt]

Originally Posted by superdog

BOA says this is the bubble. Banks. Again.

Can’t imagine this ends well.

Look at Bank of America's investment in Ripple.

[superdog]

Originally Posted by pickettt

Look at Bank of America's investment in Ripple.

Why not just tell me?

I’ll happily do the research but dang, give me the goods brother.

[Cloudchaser]

Worked with a "prepper" client for almost two years. Fascinating guy...though a bIt paranoid (IMO). But incredibly intelligent in both native horsepower and book/school smarts.

According to his favorite theory, we'd be on two currencies. The first/primary would be gold. The second would be Jack Daniels whiskey. I am NOT a finance or economics guy at all, so only put this forward because it was interesting, as a topic and as his particular point of passion. At first, I was waiting for a punchline. There wasn't one, it seemed.

He told me had collected more than 500 bottles (750ml each) of Jack Daniels, and stored them in a converted wine cellar below his home. I pressed him, still thinking he must be joking.

He then said, "I don't drink, never have, never will. It's against my personal beliefs and my religion. But I've seen in my life just how badly people want that, and the lengths they'll go to have it. When the system fails, that won't be distilled anymore but the demand will be unprecedented. And if I can't barter 500 bottles of famous American whiskey at that point, it'll mean the world really is ending, so there'll be no use for anything else anyway. And at that point, maybe I'll finally have a drink." Kind of a punchline. I chuckled.

A couple of weeks later, at his home, he showed me his cellar. Even though he had the punchline afterall, he also really did have the JD. So maybe it wasn't a punchline. But I'll certainly never forget that. He claimed his was the largest JD collection of any LDS family in Utah, which might just not be a joke.

If I happen to be in a certain area of Utah when the shit goes down, I'll know where to get some whiskey, at least

[enjoythemusic]

Originally Posted by superdog

BOA says this is the bubble. Banks. Again.

Can’t imagine this ends well.

The banking system is resilient and banks have ample access to liquidity.

[superdog]

Originally Posted by enjoythemusic

The banking system is resilient and banks have ample access to liquidity.

Words of wisdom.

But my supposition is that the BOA guys have insights that you might not have.

Your comments are mostly open to interpretation. And open ended. Regardless of how resilient the banks are, doesn’t mean there won’t be pain in the short term.

[superdog]

Originally Posted by Cloudchaser

Worked with a "prepper" client for almost two years. Fascinating guy...though a bIt paranoid (IMO). But incredibly intelligent in both native horsepower and book/school smarts.

According to his favorite theory, we'd be on two currencies. The first/primary would be gold. The second would be Jack Daniels whiskey. I am NOT a finance or economics guy at all, so only put this forward because it was interesting, as a topic and as his particular point of passion. At first, I was waiting for a punchline. There wasn't one, it seemed.

He told me had collected more than 500 bottles (750ml each) of Jack Daniels, and stored them in a converted wine cellar below his home. I pressed him, still thinking he must be joking.

He then said, "I don't drink, never have, never will. It's against my personal beliefs and my religion. But I've seen in my life just how badly people want that, and the lengths they'll go to have it. When the system fails, that won't be distilled anymore but the demand will be unprecedented. And if I can't barter 500 bottles of famous American whiskey at that point, it'll mean the world really is ending, so there'll be no use for anything else anyway. And at that point, maybe I'll finally have a drink." Kind of a punchline. I chuckled.

A couple of weeks later, at his home, he showed me his cellar. Even though he had the punchline afterall, he also really did have the JD. So maybe it wasn't a punchline. But I'll certainly never forget that. He claimed his was the largest JD collection of any LDS family in Utah, which might just not be a joke.

If I happen to be in a certain area of Utah when the shit goes down, I'll know where to get some whiskey, at least

Dude is actually brilliantl imho.

[huncho]

Originally Posted by superdog

Words of wisdom.

But my supposition is that the BOA guys have insights that you might not have.

it's hard to trust anything these guys are saying when they're the same ones who had their analysts giving all these banks high price targets months ago. all these banks had SVB forecasted at mid 200s+ in january/feb and there's no way they didn't know what was going on there months ago and didn't foresee the possibilities of this happening. imo they all have their own agendas and release "insights" when they favor them. this includes JPM who flip flop on where our economy is headed every other week

i'm hoping things don't get much worse but i just feel like any headlines from these banks mean nothing

[superdog]

Originally Posted by huncho

it's hard to trust anything these guys are saying when they're the same ones who had their analysts giving all these banks high price targets months ago. all these banks had SVB forecasted at mid 200s+ in january/feb and there's no way they didn't know what was going on there months ago and didn't foresee the possibilities of this happening. imo they all have their own agendas and release "insights" when they favor them. this includes JPM who flip flop on where our economy is headed every other week

i'm hoping things don't get much worse but i just feel like any headlines from these banks mean nothing

I tend to agree with you. And I trust in very little I read these days.

That said, they are blowing the whistle…on themselves. When the kid is caught red handed, that’s the only time they actually admit fault.

I fear this is similar. They know it’s coming. Best course of action is to “blow the lid off it”.

[huncho]

Originally Posted by superdog

I tend to agree with you. And I trust in very little I read these days.

That said, they are blowing the whistle…on themselves. When the kid is caught red handed, that’s the only time they actually admit fault.

I fear this is similar. They know it’s coming. Best course of action is to “blow the lid off it”.

true, it's definitely weird to blow the whistle on yourself but then again they also benefited a lot from the collapses so far. i believe they got $15b in new deposits the weekend SVB collapsed. kinda have to imagine they have an angle here or maybe they just know we're all on the verge of being f'ed lol

[BLACKHORSE 6]

US agency sues top crypto exchange Binance and CEO, seeks permanent trading bans

The US Commodity Futures Trading Commission (CFTC) yesterday sued Binance, the world's largest cryptocurrency exchange, saying the company and its founder, Changpeng Zhao, are charged with "willful evasion of federal law and operating an illegal digital asset derivatives exchange."

https://arstechnica.com/tech-policy/...ding-bans/amp/

[BLACKHORSE 6]

Another news source:

Binance Sees $2 Billion in Outflows as Troubles Compound

Traders are pulling billions of dollars from Binance as problems plaguing the world’s largest crypto exchange continue to mount.

The Commodity Futures Trading Commission on Monday sued Binance, alleging the exchange operated illegally in the U.S. and violated rules designed to prevent illicit financial activity. Last week, Binance announced it would charge fees on spot bitcoin trading again after cutting them to zero last summer. It also had to temporarily suspend spot trading for hours while it fixed a software error.

https://www.wsj.com/articles/binance...pound-9a136e21

[Mifune]

Lulz... 2 billion dollars.
that's pocket change from the couch cushions.

[BLACKHORSE 6]

Originally Posted by Mifune

Lulz... 2 billion dollars.
that's pocket change from the couch cushions.

Binance is many times bigger than FTX ever was. Not sure how much bigger because they are a black box, but as discussed previously in this thread, it would be so much worse if Binance was proved to be a fraud or it collapsed.

[lucanus]

Anyone work directly in crypto? I'm 2 years in with blockchain companies - every day is different and lots of great challenges

[Mifune]

[superdog]

Well. I’d say unequivocally that the ftx debacle was certainly NOT the end of crypto. That’s clear.

Exciting to see where it will go. Still not an investor. But interested all the same.

[austinp]

Originally Posted by superdog

Well. I’d say unequivocally that the ftx debacle was certainly NOT the end of crypto. That’s clear.

Exciting to see where it will go. Still not an investor. But interested all the same.

Same. I wish people weren’t so zealous about it on either side. It’s not for me at this time but hope the people with crypto make lots of money.


Sent from my iPhone using Tapatalk

[enjoythemusic]

I just want to see everyone happy. Dollar ain't doing that.

[Duey]

Just a tiny bit better then Tesla at 68.4% (but not much) and not even close to NVIDIA Corporation at 90%. And Meta Platforms did better too at 76%.

We can pick and choose charts all day long to make our horse look like a winner

[superdog]

Originally Posted by Duey

Just a tiny bit better then Tesla at 68.4% (but not much) and not even close to NVIDIA Corporation at 90%. And Meta Platforms did better too at 76%.

We can pick and choose charts all day long to make our horse look like a winner

I’m happy at 4.8%. Lmao

[enjoythemusic]

BTW, if you’re on a Mac, open a Terminal and type the following command:

open /System/Library/Image\ Capture/Devices/VirtualScanner.app/Contents/Resources/simpledoc.pdf

If you’re not comfortable with Terminal, open Finder and click on Macintosh HD, then open the System→Library→Image Capture→Devices folder. Control-click on VirtualScanner.app and Show Package Contents, open the Contents→Resources folder inside, then open simpledoc.pdf.

[Duey]

Originally Posted by superdog

I’m happy at 4.8%. Lmao

Me too

[EEpro]

Originally Posted by enjoythemusic

BTW, if you’re on a Mac, open a Terminal and type the following command:

open /System/Library/Image\ Capture/Devices/VirtualScanner.app/Contents/Resources/simpledoc.pdf

If you’re not comfortable with Terminal, open Finder and click on Macintosh HD, then open the System→Library→Image Capture→Devices folder. Control-click on VirtualScanner.app and Show Package Contents, open the Contents→Resources folder inside, then open simpledoc.pdf.

Satoshi's white paper. Very cool

[enjoythemusic]

Yes, as an 'Easter Egg' of sorts (and Happy Easter for those who celebrate)...

...every modern Mac OS has Satoshi's white paper.

Make of that what you will