Ahhh... thanks MG and the others for the lesson on the distinction as I too didn’t make that until rereading this tread and doing more research. My personality makes me prone to take those types of risks so of course I took the leap and hopped on the roller coaster....I’m on a sex board right? I’m an early adopter who’s licking his wounds from the recent bloodbath. For me now it’s like my first hobby experience, there’s no turning back now because it’s a part of the portfolio
BFE, Aspiring Stay At Home Hobbyist, Initiator Of Pleasurable Stimuli
NOTE: Acrobatics depicted from this Avatar are fictitious scrolls and all acts described are strictly imaginative works of art solely for the purposes of enterTRAINment
Hey RTC...sorry you have been wounded. But your sex crypto analogy is flawed. Investing is analogous to sex, whereas crypto is analogous to the new chick on LC with no reviews, an unclear menu, but looks kinda hot with a big rack. You might have fun, but you might get jacked, and you definitely know the odds are better sticking to verified vets on OH2.Originally Posted by RunTheCourse
Yesterday Fed Board of Governor Lael Brainard spoke at a crypto conference about a digital dollar:
https://www.cnn.com/2021/05/24/econo...ard/index.html
I find the comments about stronger consumer protection thru a central currency versus third party crypto to be highly compelling and has convinced me that governments will take over this space and private crypto won't survive. I can see being wrong on that, but feel pretty good about my analysis.
“Uhhhggg”- Charlie Brown. That’s why I fuck with you and MG the long way...nuanced analogous skills.
Last edited by RunTheCourse; 05-26-2021 at 07:44 AM.
BFE, Aspiring Stay At Home Hobbyist, Initiator Of Pleasurable Stimuli
NOTE: Acrobatics depicted from this Avatar are fictitious scrolls and all acts described are strictly imaginative works of art solely for the purposes of enterTRAINment
Hey Ben, that's not a bad link but it could be a little confusing for some. It doesn't fully explain the story behind digital currency and crypto currency. Granted, like you said it's just a quick and simple tutorial to understand the basics.
What I said earlier about the fact that digital currency is already happening/occuring was also a slight misnomer. Part of the problem is that the line between our physical and fiat currencies (e.g. dollars, euros...) and digital transactions in a mostly cashless society are becoming blurred. We in fact do live in a nearly cashless society that relies on heavily on digital transactions. Those are not technically a form of new legal tender, as it's all still based on government issued, centralized, fiat money distributed by the respective authority.
There is already a project by the Digital Dollar Foundation to launch a pilot program over the next 12mos to gather data on how a new form of digital currency in the US might work.
That digital currency, however, is intended to be a separate form of currency and not to replace "cash" or the dollar. It's primarily to speed up certain types of transactions even further. So, it would simply be another available option [potentially].
I don't know that we will move away from the dollar anytime soon. A digital currency will likely just be a faster form of the US backed dollar, very similar to how cashless digital transactions happen today. A US issued dollar, as are most world currencies today, are fiat currencies anyway. Meaning they have nothing "backing" their value (such as gold).
Every currency today are simply a function of the global markets, supply and demand, and so on.... Their value could just as easily be stored in a centralized database without a single printed piece of "cash" in existence (theoretically anyway). That's what much of our money is like today anyway; data points inside bank database ledgers.
Crypto IS a type of digital currency. It is not a digital currency that will replace government issued currency (i.e. dollars or euros) and it is nothing at all like the concept of a government issued digital currency. So, crypto is digital BUT digital currency does not have to be cryptocurrency. Not at all. In fact, a more general purpose government issued currency replacement almost certainly won't be anything like the privatized crypto available today.
-MG
Hiya MG.
FULLY agree.
That 2nd point is what I fear most do not appreciate enough. My take is the Feds will slowly introduce a digital version of the Dollar and run it through some sort of blockchain super ledger. As it is tested in the RW and the public has time to adapt and adopt (2 VERY different things!) It will expand, including linking to other digital national currencies (imagine not having to have banks exchange your currencies while charging fees and giving you bad rates!!!).
In the meantime, for those who invest in private crypto, here is today's quote for Bitcoin:
https://search.yahoo.com/search?p=Bi...&ei=UTF-8&fp=1
I draw your attention to the 52 week price delta. If you bought at $8 grand you are still way up, but if you bought high $50k you have taken it on the chin. That sort of volatility speaks volumes to the sector at this point in time.
Over time (probably not my lifetime) hard currency will be all but eliminated. Plenty of privacy issues to be concerned about, but from the Fed's perspective, there are massive benefits in terms of data, security, and policing (how much more difficult will it be for organized crime to operate if there are very few cash transaction?! Those deals will stick out for sure!) It might kill the hobby too if SOs could trace all funds...of course, by then America might be advanced enough to legalize Sex Work.
Actually crypto was invented originally for the intent of untraceable transactions on the dark web or as older gen calls it the onion... So crypto currency is perfect for things like hobbying.. The s.o cant see what you spent your doge or bit on only that a transaction has taken place..Hiya MG.
FULLY agree.
That 2nd point is what I fear most do not appreciate enough. My take is the Feds will slowly introduce a digital version of the Dollar and run it through some sort of blockchain super ledger. As it is tested in the RW and the public has time to adapt and adopt (2 VERY different things!) It will expand, including linking to other digital national currencies (imagine not having to have banks exchange your currencies while charging fees and giving you bad rates!!!).
In the meantime, for those who invest in private crypto, here is today's quote for Bitcoin:
https://search.yahoo.com/search?p=Bi...&ei=UTF-8&fp=1
I draw your attention to the 52 week price delta. If you bought at $8 grand you are still way up, but if you bought high $50k you have taken it on the chin. That sort of volatility speaks volumes to the sector at this point in time.
Over time (probably not my lifetime) hard currency will be all but eliminated. Plenty of privacy issues to be concerned about, but from the Fed's perspective, there are massive benefits in terms of data, security, and policing (how much more difficult will it be for organized crime to operate if there are very few cash transaction?! Those deals will stick out for sure!) It might kill the hobby too if SOs could trace all funds...of course, by then America might be advanced enough to legalize Sex Work.
Which...
Is why most p411 providers in Canada or europe pretty much all accept bitcoin ( we click a box in our services ) when i went to canada last year to visit a hobby lady who introduced me to this She only accepts bitcoin. And says when she travels to the usa she only accepts butcoin or crypto cus crypto isnt federally reconized as currency ( it isnt real) therfore offering services in exchange for services is 100% legal as the states say its only illegal to exchange bcd activities for monetary gain ( paper currency the almighty green paper form)
See explanation below
"In most states offering sexual services or agreeing to provide those services in exchange for money is considered prostitution whether or not the services are provided. That is why those sting operations you see on television are successful. The prostitute agrees to provide the service, the undercover police office pays for the service and then handcuffs the prostitute without the service being provided."
( this comes from one of the biggest lawfirms in the U.S)
Here is the ruling on crypto:
"So what does the future hold for Bitcoin You can use the virtual currency to make purchases in a wide variety of video games and at some retailers like overstock.com and tigerdirect.com. You can also use bitcoin to safely purchase gift cards for hundreds of business like Home Depot, Dunkin Donuts, and AMC Theatres. However, the Bitcoin website notes that “Bitcoin is not a fiat currency with legal tender status in any jurisdiction.”1 And based on the regulatory and enforcement actions of major governments, including the United States and Russia, that status is unlikely to change anytime soon."
Here is a explination link of the diffrence between crypto and fiat currency( cash/ paper/etc)
https://www.investopedia.com/article...id-bitcoin.asp
Last edited by lovelyxxxo; 05-31-2021 at 03:50 PM.
Remember, the effort has to go into the art, not the wave
Everybody talking 'bout they own their masters
But if your "art" don't age well, it don't matter
It's like you own a hundred percent of nothing
Know your value
☆☆☆☆☆Hosting in upscale private incall in West Houston ☆☆☆☆☆
Does not entertain/accomodate:bbfs,ff,dt,greek,disrespectful or aggressive gentlemen. ANY ATTEMPT TO DISREGARD WILL RESULT IN FULL FEE DUE AND FORFEITING REMAINING TIME.YOU HAVE BEEN WARNED..
Great contribution Lovely. But it sort of proves my point...eliminating the private versions helps law enforcement. In effect, any private cryptos that survive become a form of barter because the public version is legal tender. Will there be enough activity on the private side once there is a public version? And isn't it likely that the Feds outlaw the private version once the public version is accepted? Crude analogy: you can still buy CSA banknotes, but you cannot buy anything with them...they have novelty value only. This will be an interesting space over the next 5-10 years...
I mean they originally tried to ban bitcoin at one time unsuccesfully.. My thinking is bitcoin is far to big to ever be outlawed. But idk you could be very right on future outcomes.. I mean uncle sam always gets his tax one way or another..
Remember, the effort has to go into the art, not the wave
Everybody talking 'bout they own their masters
But if your "art" don't age well, it don't matter
It's like you own a hundred percent of nothing
Know your value
☆☆☆☆☆Hosting in upscale private incall in West Houston ☆☆☆☆☆
Does not entertain/accomodate:bbfs,ff,dt,greek,disrespectful or aggressive gentlemen. ANY ATTEMPT TO DISREGARD WILL RESULT IN FULL FEE DUE AND FORFEITING REMAINING TIME.YOU HAVE BEEN WARNED..
To be clear, I did not mean outlaw. Possible, but I think having a digital valid legal tender will make private crypto all but useless, except for criminals, and thus their transactions will stand out, which they won't want.
I agree as well. I don't think it will be "banned" or "outlawed" but it may end up only having novelty value or possible use in illicit markets.
Another thing I think people don't always realize is that a digital currency isn't some mythical concept. There are ways to enhance a digital currency, give it security features, or the concept of a blockchain where all transactions are recorded. FYI the concept of anonymity with crypto coins is beyond scope for this article but, yes, as Caroline said that is its main purpose. However, blockchain is totally transparent, meaning all transactions exist and are recorded within the entire blockchain, accessible anywhere within the global network. So, yes, you could add features like these and more, but a digital currency also could be just as similar to our current cashless online digital money transactions.
We don't need a physical piece of paper or legal tender in physical form to have a currency. Not anymore. In the distant past, even the not so distant past, we did need 'something' physical.
Why? Because we had no other bulletproof way to securely associate value to someone, or something, other than in the paper or coins they physically carried with them or stored in a bank. It was the extremely crude nationwide equivalent of a centralized database with everyone agreeing that these pieces of paper were worth whatever was printed on them and if you were in possession of one (or some) you had something of 'value'.
Nationwide, or global, databases didn't exist to have everyone, authorities, banks, etc... agree that Jeff Bezos is worth $200Bn (just a simple example). Obviously that cash doesn't exist. Not even the few billion he liquidated in recent years. It's just a figure in a database that banks anywhere can access and agree on. That cash doesn't even exist. It's just an agreement that he can get anything within the value of what is listed under his account balance(s).
The point is that a digital currency could be as simple as us all agreeing that banks are secure, they all have interconnected, centralized relational databases, that list the "dollar" amounts a person is worth (or "has"). With that understanding, what we do today is a type of digital currency whenever you make a Paypal or Amazon transaction.
Granted a true digital currency policy will likely expand and enhance our current cashless online transaction model immensely, with many new features, security, etc... BUT I don't expect the concept of the 'US dollar' to change for quite a good while.
-MG
We are simpatico MG.
Bitcoin up 4.5% today for those on the playground.
Of course, glad for those of you who put your $ on AMC today you could've retired...it more than doubled today.
Thank you ... Im actually meeting with realtor tomorrow..$AMC was definitely the best stock i ever put my savings into..well besides GME.. but that was long ago..i guess that could be an explination as to where ive been...lol ( buy the dip, hodl, refuse the Fud)
This video explains what and who we are im sure its on youtube but i use reddit soo.
https://www.reddit.com/r/amcstock/co...m_source=share
These are just bonuses..
https://youtu.be/E8cs6_jRxbg
https://www.reddit.com/r/amcstock/co...m_source=share
Last edited by lovelyxxxo; 06-04-2021 at 01:51 AM.
Remember, the effort has to go into the art, not the wave
Everybody talking 'bout they own their masters
But if your "art" don't age well, it don't matter
It's like you own a hundred percent of nothing
Know your value
☆☆☆☆☆Hosting in upscale private incall in West Houston ☆☆☆☆☆
Does not entertain/accomodate:bbfs,ff,dt,greek,disrespectful or aggressive gentlemen. ANY ATTEMPT TO DISREGARD WILL RESULT IN FULL FEE DUE AND FORFEITING REMAINING TIME.YOU HAVE BEEN WARNED..
[QUOTE=lovelyxxxo;1096622] * please note photo is from a reddit post ( was trying to post pic and topic headline without the comments ) for some reason link didnt screenshot lol.. Ill get there though one day lol***
Last edited by lovelyxxxo; 06-04-2021 at 05:42 PM.
Remember, the effort has to go into the art, not the wave
Everybody talking 'bout they own their masters
But if your "art" don't age well, it don't matter
It's like you own a hundred percent of nothing
Know your value
☆☆☆☆☆Hosting in upscale private incall in West Houston ☆☆☆☆☆
Does not entertain/accomodate:bbfs,ff,dt,greek,disrespectful or aggressive gentlemen. ANY ATTEMPT TO DISREGARD WILL RESULT IN FULL FEE DUE AND FORFEITING REMAINING TIME.YOU HAVE BEEN WARNED..
+1 Fellow Ape!!!
She's a kind girl, the kind I'd like to.......
Details on P411
MFC charter member
Buying the dip all weekend long.. Lol gotta couple calls for the 11th.. Safe calls but calls none the lessScreenshot_20210605-001424.jpg
Do they think we sold???
"Ape no smart we not know sell.." Lol
Sorry reddit is on fire tonight especially after the the guy on the news admitted to naked shorts... Hoping yall caught it .. The news ladies reaction was freaking priceless. You know he packed his desk when he got off air lol.
Last edited by lovelyxxxo; 06-05-2021 at 12:21 AM.
Remember, the effort has to go into the art, not the wave
Everybody talking 'bout they own their masters
But if your "art" don't age well, it don't matter
It's like you own a hundred percent of nothing
Know your value
☆☆☆☆☆Hosting in upscale private incall in West Houston ☆☆☆☆☆
Does not entertain/accomodate:bbfs,ff,dt,greek,disrespectful or aggressive gentlemen. ANY ATTEMPT TO DISREGARD WILL RESULT IN FULL FEE DUE AND FORFEITING REMAINING TIME.YOU HAVE BEEN WARNED..
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