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Ren's old crypto thread || we know how to buy this stuff now (1 Viewer)

I mean every sentence was dumber and more wrong than the one that preceded it.  Truly incredible.

 
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Peyton Marino said:
you mentioned that we were talking past eachother.  maybe so, but the issue is not on my end.

yesterday you attacked a bunch of altcoins, and crypto as a whole because it's not currently widely accepted as a form of currency.  I pointed out that currency value is not the only (or even remotely close to the largest) use case for crypto at this point, and that bitcoin represents a tiny part of crypto's overall potential.  I posted an article which lays these points out very clearly.  well, you are now latching onto another minor use case (store of value) for bitcoin (again, not representative of crypto as a whole) and attacking that as well.  I mean, I don't really know what to say at this point.

but to address your point about bitcoin as a store of value, it is absolutely an excellent store of value.  volatility is an intermediate term concern.  these things level off as assets mature.  it has also smacked the #### out of any other asset class since its inception.

but where bitcoin crushes any other store of value is that it is easily transferable anywhere in the world and unable to be seized by any government when stored correctly.  these may not seem like issues in the United States (though they are - spend a couple hours researching civil forfeiture) but they absolutely matter in less politically developed countries.  your country of birth decides to wage genocide on its people - try getting the #### out with your life's savings stored in physical gold or rolexes and get back to me.
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wat

The Federal Government Is Starting to Cash In Millions of Seized Bitcoin

 
IC FBGCav said:
https://www.chrono24.com/rolex/daytona--id7562160.htm

Okay, I'll take 405.00, I PM'ed my paypal to you.   TIA.
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DESCRIPTION

Exceptional 2004 Dated paperwork, "F" serial number Daytona with rarer black dial, serviced in 2016 by WOSTEP certified watchmaker and Rolex parts account holder. Bezel is in great shape, bracelet is better than 90%. 
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Hmmmm, interesting for a watch released in 2016... But go ahead and find me one from a reliable seller in Latvia for like $17k...

Furthermore, that old reference Daytona has a black face... Keep going though, your efforts will bear no fruit. 

 
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Politician Spock said:
Ah yes, the USB thumb drive.

Might as well be a nugget of gold. 
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just ####### memorize your private keys.  it's not ideal but in a desperate situation it can be done.

even so, you can store infinite $$$ on an essentially weightless thumb drive.  you can't store infinite $$$ in a single nugget of gold.

 
Peyton Marino said:
just ####### memorize your private keys.  it's not ideal but in a desperate situation it can be done.

even so, you can store infinite $$$ on an essentially weightless thumb drive.  you can't store infinite $$$ in a single nugget of gold.
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No, one is a physical asset that has been a store of value since the dawn of man, the other is speculative and unproven, at best. 

Yet, I guess since every comment of mine is dumber than the next, reading between the lines, my dumbest comment by far is stating that physical gold during Armageddon would be something you want, apparently.  

 
Peyton Marino said:
just ####### memorize your private keys.  it's not ideal but in a desperate situation it can be done.

even so, you can store infinite $$$ on an essentially weightless thumb drive.  you can't store infinite $$$ in a single nugget of gold.
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I don't disagree with you. I just don't see the need for this solution. 

You've made it clear that the benefits of cryptocurrencies "absolutely matter in less politically developed countries". If USB drives can store infinite $$$, it won't be long before less politically developed countries start seizing thumb drives for nothing more than ####s and giggles. Why wouldn't they? Not only would they get the occasional windfall, but they'll also grow a nice porn collection too. 

 
Peyton Marino said:
just ####### memorize your private keys.  it's not ideal but in a desperate situation it can be done.

even so, you can store infinite $$$ on an essentially weightless thumb drive.  you can't store infinite $$$ in a single nugget of gold.
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Wrong.....what if I engraved my private keys on a gold bar

 
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Peyton Marino said:
just ####### memorize your private keys.  it's not ideal but in a desperate situation it can be done.

even so, you can store infinite $$$ on an essentially weightless thumb drive.  you can't store infinite $$$ in a single nugget of gold.
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I'm still not 100% sure I wrote mine down correctly 

 
Politician Spock said:
I don't disagree with you. I just don't see the need for this solution. 

You've made it clear that the benefits of cryptocurrencies "absolutely matter in less politically developed countries". If USB drives can store infinite $$$, it won't be long before less politically developed countries start seizing thumb drives for nothing more than ####s and giggles. Why wouldn't they? Not only would they get the occasional windfall, but they'll also grow a nice porn collection too. 
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fair enough.  two points:

1. I would memorize my private keys if I lived in a country of high political turmoil.  

2. Ease of transportation is still a key here.  You can easily transport large sums of a cryptocurrency vs. alternative stores of value.  In the hypothetical where you need to get out quickly, a thumb drive is preferable to a large amount of gold.  No packing necessary, no issues with prohibitive storage in your vehicle of transport.

 
Peyton Marino said:
fair enough.  two points:

1. I would memorize my private keys if I lived in a country of high political turmoil.  

2. Ease of transportation is still a key here.  You can easily transport large sums of a cryptocurrency vs. alternative stores of value.  In the hypothetical where you need to get out quickly, a thumb drive is preferable to a large amount of gold.  No packing necessary, no issues with prohibitive storage in your vehicle of transport.
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Gold is currently worth $21k a pound, obviously a thumb drive is easier, but I'll stick with the tried and true with my family and their lives on the line... just me - no need for the name calling. 

 
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I don’t understand why you would argue with people who don’t want to have cryptocurrency for its “store of value”. Bitcoin itself is a relic whose time has passed but the market has not caught up with. It’s slow, it has high fees, it has terrible governance and it is tied to fiat for all intents and purposes. The cryptos trying to create their own ecosystems where businesses form, are funded by, tied to the currency and also do their transactions under the umbrella of is where there is immense value. If you want to call it an investment, a hobby, a tulip, a beanie baby... I don’t really give a ####. I see value in the idea and I don’t need anyone’s opinion or scared excuses to tell me otherwise. Will governments get their sticky fingers involved? Yes. Will there be crashes and downturns and fear? Yes. Nothing what is said by those who clearly only want surface level knowledge of what this is at present time vs what it could be in ten years do I give a good ### #### about.

 
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Peyton Marino said:
fair enough.  two points:

1. I would memorize my private keys if I lived in a country of high political turmoil.  

2. Ease of transportation is still a key here.  You can easily transport large sums of a cryptocurrency vs. alternative stores of value.  In the hypothetical where you need to get out quickly, a thumb drive is preferable to a large amount of gold.  No packing necessary, no issues with prohibitive storage in your vehicle of transport.
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Today... yes.

Tomorrow, those who want to take it will look for thumb drives just as hard as they look for other assets today. The only reason it works well today is because it's new.

Also, regarding the ability to simply memorize your private key, while early adopters understand the need to protect their private key, the general population will treat it like a credit card number, and expect that when it gets stolen they can get their number canceled and get a new one. Oops.

 
Politician Spock said:
Today... yes.

Tomorrow, those who want to take it will look for thumb drives just as hard as they look for other assets today. The only reason it works well today is because it's new.

Also, regarding the ability to simply memorize your private key, while early adopters understand the need to protect their private key, the general population will treat it like a credit card number, and expect that when it gets stolen they can get their number canceled and get a new one. Oops.
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Again, fair criticisms here.  

To the second point, the marginal benefit of the thumb drive is simply the ease of transportation.  I agree that if you're caught on the way out, they will seize it.  Depending on the severity of the hypothetical, they'll probably also kill you.  But, I believe the thumb drive allows you to leave more quickly without packing things up, and allows you to transport more if space is an issue.

I honestly don't even know if it's possible for an average human to memorize their private keys.  That would be my biggest hesitation.  But, also concede that a lot of folks may not even realize that they need to.

 
IC FBGCav said:
I never give up.  I didn't see a timeline on the offer.
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No timeline at all... I'll make the offer even sweeter for you, first, I'll point you in the right direction:

https://www.rolex.com/rolex-dealers/dealer-locator/unitedstates#place=ChIJCzYy5IS16lQRQrfeQ5K5Oxw&location=unitedstates

That is the only place on Earth you'll be able to find one at MSRP, so don't waste your time elsewhere. Pick up the phone and call some located close to you. If any of them will sell it to you, I'll wire or phone in my payment information directly to the store and then send you $2k at the same time to you. 

FWIW, I've made healthy money sourcing tough to find watches (the worst I've ever done on all of my transactions when factoring in my time, worked out to $250 an hour by the end of the sale, and that is net, figure it working out to $350-$400 an hour if you're pretax), but if you don't understand the lingo, you'll have a hard time getting someone to sell it to you. 

 
Politician Spock said:
I hear the demand for that is huge. 
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It seems like you and fc42 keep putting up these strawmen.  It's a good thing we didn't listen.  We made a lot of money not listening to fc42 and we're going to keep making a lot of money not listening to fc42.  Thanks to us not listening to fc42 on this subject, which he is brutally misinformed/wrong about, we reaped the benefits of one of the largest transfers of wealth in human history.  

You posted a link about governments seizing bitcoin and we explained how users can circumvent states doing that.  Then you mention how uninformed users will treat it like a credit card and lose their money forever.  When you get a Ledger wallet or write down the private keys from a wallet download, it is emphasized in no uncertain terms to be careful and take care with it.  It just doesn't work like that at all in the real world.  

All transactions being final is the whole point of an immutable permissionless currency.  For people to transact and participate irreversibly in markets on their own accord, without permission from a central authority, bank, or government.  If people want a centralized currency they can get chargebacks on by the blessing of people who control it, they can use fiat.  

You seem to understand the problems with central banking and fiat.  So I don't understand why you are so averse to a decentralized, deflationary currency that so far appears to be the most logical answer to these problems.  

 
I’d wager that Ren has at least 75%, and maybe even 100% of his investable assets in crypto. 

I guess I’d be on edge too if I had to watch my measly $30k fluctuate 10% on a daily basis - sorta how a career Vegas gambler feels on a day to day. 

 
ren hoek said:
It seems like you and fc42 keep putting up these strawmen.  It's a good thing we didn't listen.  We made a lot of money not listening to fc42 and we're going to keep making a lot of money not listening to fc42.  Thanks to us not listening to fc42 on this subject, which he is brutally misinformed/wrong about, we reaped the benefits of one of the largest transfers of wealth in human history.  

You posted a link about governments seizing bitcoin and we explained how users can circumvent states doing that.  Then you mention how uninformed users will treat it like a credit card and lose their money forever.  When you get a Ledger wallet or write down the private keys from a wallet download, it is emphasized in no uncertain terms to be careful and take care with it.  It just doesn't work like that at all in the real world.  

All transactions being final is the whole point of an immutable permissionless currency.  For people to transact and participate irreversibly in markets on their own accord, without permission from a central authority, bank, or government.  If people want a centralized currency they can get chargebacks on by the blessing of people who control it, they can use fiat.  

You seem to understand the problems with central banking and fiat.  So I don't understand why you are so averse to a decentralized, deflationary currency that so far appears to be the most logical answer to these problems.  
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Yeah, nothing you've said leads me to believe any cryptocurrency will solve the major issues of modern money mechanics. Not being able to move $1,000,000 seamless across national borders is a problem for only a handful of people in the grand scheme of things, so if that's a major benefit of these cryptocurrencies, then the "mass adoption" that is supposed to happen has little to no reason to actually happen. And while I see that it does solve that problem, solving one problem by creating a dozen+ more problems when mass adoption does occur is not a solution. 

I believe that there will be a new world reserve currency to replace the US dollar. And that it will likely look a lot like cryptocurrencies. It will however be birthed by a coalition of governments. All these existing cryptocurrencies are simply "ponzi schemes" based on the delusion that the future of economics won't be run by governments. I put "ponzi scheme" in quotes because it's not literally a ponzi scheme, but the results will essentially be the same. Early adopters will make a lot of money and thump their chests to express their pride for doing so (see your post above), but in the end the late adopters will lose a ton, and that is a social travesty, and why ponzi schemes are illegal.

 
Politician Spock said:
Yeah, nothing you've said leads me to believe any cryptocurrency will solve the major issues of modern money mechanics. Not being able to move $1,000,000 seamless across national borders is a problem for only a handful of people in the grand scheme of things, so if that's a major benefit of these cryptocurrencies, then the "mass adoption" that is supposed to happen has little to no reason to actually happen. And while I see that it does solve that problem, solving one problem by creating a dozen+ more problems when mass adoption does occur is not a solution. 

I believe that there will be a new world reserve currency to replace the US dollar. And that it will likely look a lot like cryptocurrencies. It will however be birthed by a coalition of governments. All these existing cryptocurrencies are simply "ponzi schemes" based on the delusion that the future of economics won't be run by governments. I put "ponzi scheme" in quotes because it's not literally a ponzi scheme, but the results will essentially be the same. Early adopters will make a lot of money and thump their chests to express their pride for doing so (see your post above), but in the end the late adopters will lose a ton, and that is a social travesty, and why ponzi schemes are illegal.
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This is a great post and I agree with all of it... I certainly see a day in the future where the USD is not the standard, but the standard will involve governments and central banks, and if anyone disagrees with that, just buy gold.

 
fantasycurse42 said:
I’d wager that Ren has at least 75%, and maybe even 100% of his investable assets in crypto. 

I guess I’d be on edge too if I had to watch my measly $30k fluctuate 10% on a daily basis - sorta how a career Vegas gambler feels on a day to day. 
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A career gambler isn't on edge over 10% fluctuations.

 
Can we get back OT and stop feeding the trolls? Also, if you’re not part of the solution then you’re part of the problem. BTC was created for we the masses to separate from the control of central banks. It won’t happen overnight but a step in the right direction. That’s the bottom line. Bickering over semantics is pointless. FC, go find a Rolex thread or something, why intentionally stay here and ruffle feathers? You like being ‘that guy’?

 
What do you guys do when something you like runs while you are considering buying it? I’ve been eyeballing NEO for a few days and surely can’t buy it at the all time high when it has almost doubled in value in a few days. And yet, who knows if it is done running (like when I thought bitcoin was too expensive at 1k, 2k, and so on). So do you just wait for a dip and then buy or cut your losses and move on to something else?

 
Clorox said:
What do you guys do when something you like runs while you are considering buying it? I’ve been eyeballing NEO for a few days and surely can’t buy it at the all time high when it has almost doubled in value in a few days. And yet, who knows if it is done running (like when I thought bitcoin was too expensive at 1k, 2k, and so on). So do you just wait for a dip and then buy or cut your losses and move on to something else?
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I wanted to buy NEO at $45, $55, $65.... finally got in at $95. Wait for a dip and then consolidation and hopefully a bull pennant/flag shows on the consolidation and buy on the breakout. 

 
INS having a rough day.  Down just 98.55 percent.  Or is that just some kind of glitch since they just started trading on Biance. 

 
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Still room aboard the Payfair PFR shuttle. Developing a decentralized escrow platform, Payfair is aiming to be one of the best ways to cash out of crypto.

 
fantasycurse42 said:
I’ll make you the same offer I made someone else on this board; if you can find a Rolex dealer to sell you one, I’ll give you an extra $2k on top of what you pay (assuming MSRP) the same day. 
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By my calculations, the value of this must have gone down by $1k in the last month or so. 

 
I talked about it in chat some, but going to pull a speculative trigger on some ZCL. It is forking into Bitcoin Private soon(TM) and curious how the valuation might go as fork approaches.

 
hagmania said:
I talked about it in chat some, but going to pull a speculative trigger on some ZCL. It is forking into Bitcoin Private soon(TM) and curious how the valuation might go as fork approaches.
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Thanks for keeping some of this talk in here. I keep forgetting to look in on that chat.

Oh, and thanks to the guys talking about NEO a few days ago. I mean, I'm small potatoes and only bought 1.5 of them, but still fun to see something keep going up while everything else is red. 

 
Quick search function of "Rolex" in this thread on the top right shows icon mention Rolex 3x, then Ren 1x before I mention anything Rolex related in here.

Then Ren 2x again, Hag 1x, then I respond again. 

:shrug:

 
fantasycurse42 said:
Quick search function of "Rolex" in this thread on the top right shows icon mention Rolex 3x, then Ren 1x before I mention anything Rolex related in here.

Then Ren 2x again, Hag 1x, then I respond again. 

:shrug:
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There's a lot of Rolex talk in here because people are making fun of you being a huge tool. HTH

 
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