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I hope that's not your only source of income
Go back to Reddit. the other trolls miss you.
What's trolling?
This board has quite a bit of screeching about btc and its affect on gaming cards.
Yeah I finally got round to watching 'The Big Short' last week. It's a rigged game from start to finish.
From the outpouring of hate from gamers, I guess investors manipulating values on exchanges somehow undermines the underlying technology?
BUT MUH GAMING CARDS, REEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE
Show me 1 post before yours that complained about graphics cards. I'll wait.
If you liked that you'll love the wolf of wallstreet. It had me in tears and stitches the whole movie.Yeah I finally got round to watching 'The Big Short' last week. It's a rigged game from start to finish.
Show me 1 post before yours that complained about graphics cards. I'll wait.
I must admit, if Bitcoin crashed, there would eventually be a glut of high end graphics cards going cheap! You won’t catch me moaning about that! Hehehe
You perfectly describe virtually all fiat currency to date. Paper printed out of thin air, Federal reserves supply via digital transfer new never counted before currency to national banks. Money printed up fresh - not pulled from some dark vault and dropped over Iran, billions of dollars. Fiat money, dollar is more an act of faith, definitely not backed by anything tangible. If people accept that then no wonder Cryptocurrency is also accepted. Now Tether is backed by $, one for one, which is laughably or sadily not backed by much at all.Dispersion gravity is a form of manipulation, but it is the idea that dense pockets of a type of wealth can affect the value of that wealth without overt action. First used to describe the controlled valuation of diamonds through the New York diamond market by controlling the release of diamonds to different industries.
Wealth dilution is the big thing that crypto fanboys don't see. Suppose you had a small country of 100,000 people, and that country decided to mint one million gold coins as its official currency. Then someone stood up and said, "I'm going to make a currency out of wood chips that I have autographed. Bring me two wood chips of perfect size, and if I like them I will sign them, and I'll take one and you can have one, and you can spend them as money." Eventually he did this so often that people started trading the wood chips as money. If they are generally recognized as a form of money, and he signs a number equal to the number of the gold coins, then the value of the gold coins should drop by half - the nation had one million gold coins as a representation of its internal wealth, and now it has one million gold coins and one million wood chips. This is bitcoin - a currency created from nothing that represents nothing but is valued at levels great enough to buy houses and cars.
I'm not saying that the age of currency unregulated by national or international money markets isn't coming. We all know it's coming, it's a canon of science fiction. But bitcoin isn't it, it isn't fast enough, it isn't really mobile enough, it isn't trustworthy, and it doesn't represent any form of value. I'm not even against bitcoin, but I am against thinkers who only see the current effect and so champion it without understanding that the emperor has no clothes.
Vega 64 - $559 at Newegg, your money is just as good as mine, your brain is just as capable in finding and buying it as well. Wait, I bought the last one . The coin it will make will buy me a Lambo. Kidding honestly.A-Freaking-Men and a hallelujah to that friendo. I want me some Vega64 [vega hate deflector activated] on the cheap, hurry up miners!
Like most of this thread. Wrong!In other news, water found to be wet.
Good for you. I'm curious, though: in 2008, had you personally issued a large number of sub-prime mortgages? Did the fact that you hadn't somehow make you immune to the downturn?
Like most of this thread. Wrong!
Actually yes - I'm not dumb enough to lend money to people that can't pay it back. Hence I was quite immune to that whole shakeup. Trying to understand your angle here though - are you trying to say the adoption of digital assets as a thing is personally impacting your life outside of crypto directly? The current market wide value is right under 300B currently, a literal drop in the bucket when viewed on the macro level of world economies. Ive been through economic collapses, energy busts (twice), and a few crypto busts. Its not hard to weather a storm when you know what to look for and how to prepare.
Mortgages, bitcoin, auto loans, whatever your poison is... the root problem is people too stupid to play within their comfort zone (aka ability to pay or understanding of the reality of the situation) There's no shortage of idiots who have to have the latest phone, the latest car, and will beg, borrow, and steal to get it.
That only really matters if you are depending on them for your regular income. If you just have them, then their value plunging doesn't really hurt you, as long as they don't become permanently worthless (a company you invested in goes under, for instance). What would hurt is if you had lots of loans and lost your job or had your pay reduced.My "angle" is simply that a few bad actors can cause a good deal of pain for everyone. While you may believe you were "quite immune" to the effects of the recession (which is horseshit unless you are 100% self-sufficient off the grid someplace...but whatever), if you had any equities and/or real estate you would have seen their value plunge.
Now I grant that Bitcoin is presently trivial compared to the sub-prime mortgage market, but I suspect that would be of little comfort to the people impacted.
That's not quite accurate. The US dollar is essentially backed by military force. It's the world currency and (maybe because of) the official OPEC currency, hence the term petrodollar. We sure as hell have military bases and politicking going in any oil producing country we can. These countries can't just say "no" to using the USD for the sale of oil without big repercussions and the world still runs on oil. So yes, it is still fiat country and not backed on 1:1 ratio to anything, but it IS backed by an enormous military presence and economic / political strong-arming.You perfectly describe virtually all fiat currency to date. Paper printed out of thin air, Federal reserves supply via digital transfer new never counted before currency to national banks. Money printed up fresh - not pulled from some dark vault and dropped over Iran, billions of dollars. Fiat money, dollar is more an act of faith, definitely not backed by anything tangible.
That only really matters if you are depending on them for your regular income. If you just have them, then their value plunging doesn't really hurt you, as long as they don't become permanently worthless (a company you invested in goes under, for instance). What would hurt is if you had lots of loans and lost your job or had your pay reduced.
So smart guy, can you tell us what information you use to read this type of asshatery? Why didn't you come out with a paper at that time telling all of us this manipulation? Your delusion is just over the top. I have seen many people like you during the dotcom boom, denial, denial, denial.
Painful Engrish is painful.
USD prices are manipulated... whats the point here? Big banks and the media hold hands as they unite our species into debt.
That is the first I heard of that, $ is a fiat currency which means:That's not quite accurate. The US dollar is essentially backed by military force. It's the world currency and (maybe because of) the official OPEC currency, hence the term petrodollar. We sure as hell have military bases and politicking going in any oil producing country we can. These countries can't just say "no" to using the USD for the sale of oil without big repercussions and the world still runs on oil. So yes, it is still fiat country and not backed on 1:1 ratio to anything, but it IS backed by an enormous military presence and economic / political strong-arming.
I'm not arguing that's a stable long term position, but you're making it sound like it's backed by NOTHING, which isn't true at all.
https://en.wikipedia.org/wiki/Fiat_money said:Fiat money is a currency without intrinsic value that has been established as money, often by government regulation. Fiat money does not have use value, and has value only because a government maintains its value, or because parties engaging in exchange agree on its value.[1] It was introduced as an alternative to commodity money and representative money. Commodity money is created from a good, often a precious metal such as gold or silver, which has uses other than as a medium of exchange (such a good is called a commodity). Representative money is similar to fiat money, but it represents a claim on a commodity (which can be redeemed to a greater or lesser extent).[2][3][note 1]
The first use of fiat money was recorded in China around 1000 AD. Since then, it has been used by various countries, usually concurrently with commodity currencies. Fiat money started to dominate in the 20th century. Since the decoupling of the US dollar from gold by Richard Nixon in 1971, a system of national fiat currencies has been used globally, often with freely floating exchange rates between the national currencies.
I had a typo, but I acknowledged it was fiat currency. As for disagreeing that it's backed by military force, I think you just aren't aware of how our money works. We have over 800 military bases in 70 different countries around the world and have heavy influence in OPEC countries. If you want to raise crops or get anything from point A to point B, you need oil. In most of the world, in order to buy or sell oil from the source, you need US dollars. You mentioned how Nixon went off the gold standard in 1971. Guess when USD started became the currency of OPEC?That is the first I heard of that, $ is a fiat currency which means:
Dollar is back by belief in those that use it, accept it has value etc. It has no other true backing. So making money out of thin air rings a bell, the dollar and virtually all other accepted currency are exactly that. Now having a stable, just, powerful with great people can make the fiat currency more desirable and acceptable. Military power used to dominate, dictate etc. could have an opposite effect on the value of a fiat currency. I would disagree about premise that our dollar is backed by military force.
It is no different than the price manipulation that occurs in the Stock Market despite all the "Regulation" that is in place. It is par for the course for any type of investments and if you're a good investor. You learn to read this type of asshatery and either run from it or jump in while you can to get your piece of it.
What caused the 2008 crash again?is there manipulation in stock market? Yes likely but not to the scale and not even the same.
The # of bases are going down, with your theory the dollar value would go down. The military was dramatically reduced over the last decade - dollar? Not much real bearing other then showing that the country is some what stable or protected. While there is some influence - it is not back by military force. First time I ever heard it put that way, never heard any government entity even remotely indicating that, propagated that thought etc. One reason why the dollar is still around after being tremendously diluted (printing or transferring etc. out of thin air) is other countries are doing it worst.I had a typo, but I acknowledged it was fiat currency. As for disagreeing that it's backed by military force, I think you just aren't aware of how our money works. We have over 800 military bases in 70 different countries around the world and have heavy influence in OPEC countries. If you want to raise crops or get anything from point A to point B, you need oil. In most of the world, in order to buy or sell oil from the source, you need US dollars. You mentioned how Nixon went off the gold standard in 1971. Guess when USD started became the currency of OPEC?
It's not as overt as something like "use US dollars or we'll bomb you." It's more like you cut great deals with oil producing countries, establish a strong military presence in their area, influence their local government if not install your own people via proxy, etc. As long as oil interests are secured, that's all that's needed. You can "disagree" about it all you want, but people can disagree about the world being round too.
It's not a 1:1, it's a slow correlation over time. One base gone doesn't translate to much, that's kind of like saying shutting down one school means education is now worse whereas that's statistically not significant you have to look at it overall over time. In other words, it could be we only need 200 bases to influence OPEC, it's not a simple thing to measure. More generally means more influence, but past a certain point it could just be redundant also.The # of bases are going down, with your theory the dollar value would go down. The military was dramatically reduced over the last decade - dollar? Not much real bearing other then showing that the country is some what stable or protected. While there is some influence - it is not back by military force. First time I ever heard it put that way, never heard any government entity even remotely indicating that, propagated that thought etc. One reason why the dollar is still around after being tremendously diluted (printing or transferring etc. out of thin air) is other countries are doing it worst.
In b4 the faithful defend their magic coins
So then Russia currency should be the #2 currency in the world with your theory. In fact better than the dollar since they have more nucs. Also Sweden is close to becoming cashless:It's not a 1:1, it's a slow correlation over time. One base gone doesn't translate to much, that's kind of like saying shutting down one school means education is now worse whereas that's statistically not significant you have to look at it overall over time. In other words, it could be we only need 200 bases to influence OPEC, it's not a simple thing to measure. More generally means more influence, but past a certain point it could just be redundant also.
Plus, you talk about dramatic reduction, but even at our WORST, we're spending 3x on our military as much as China (a country with 4x our population), and over 9x as much as Russia. So our "reduction" is still far, far more than any other country ever spends and leaves it only the most influential military in history. You keep talking about how this is the first time you've ever heard of this concept, I suggest you look up the concept of the petrodollar, there might be a lot of history you're unaware of. Again, it's not a coincidence USD became the currency of OPEC the same time we went off the gold standard.
So then Russia currency should be the #2 currency in the world with your theory. In fact better than the dollar since they have more nucs. Also Sweden is close to becoming cashless:
https://www.thenational.ae/business/sweden-leads-way-to-a-cashless-world-1.710321
Fiat currency, which is indeed most currencies including the US dollar has no commodity or asset associated with it - no different than Bitcoin in other words. When folks talk about imaginary money or monopoly money they are describing well most fiat currencies in existence today.
I must admit, if Bitcoin crashed, there would eventually be a glut of high end graphics cards going cheap! You won’t catch me moaning about that! Hehehe
Except if Bitcoin crashed -> most alt coins would probably crash with it. In that case there will probably be some mining cards on sell. So not so far fetch.If Bitcoin crashed, there would be exactly 0 more cheap cards on the market because BITCOIN CANNOT BE MINED BY GRAPHIC CARDS.
Damn, you couldn't mind Bitcoin with GPUs for YEARS, it's mid 2018 and people still hang on this shit.
Educate yourselves before commenting.