Author Topic: Doge to a Dollar  (Read 3945 times)

Chan

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Re: Doge to a Dollar
« Reply #15 on: April 21, 2021, 09:07:10 AM »
mmmmmmmMMMmmOK. Sound like some fractal Fibonacci Tumeric bowel cleansing explanation for a misspelling, but I'm going with it. Letting it wash over me. I'm going to take a picture of this screen with me looking bemused and disbelieving, attach an NFT and sell it for $100K, that then piss it away on good champagne.  Cryptohangover. It could be a meme. Or not.

I'd be happy to share some of that champage but I know you don't sell anything.  You're the ultimate hodler.  I should buy you this hoodie.


Fishman

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Re: Doge to a Dollar
« Reply #16 on: April 21, 2021, 10:43:39 AM »
Holding .06 nice Chan. With those doge types I buy a little when it looks like it can't go lower. Then when it doubles i take 50%. Then every time it doubles after that take 50% and so on. I'm too old to HODL
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Chan

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Re: Doge to a Dollar
« Reply #17 on: April 21, 2021, 01:21:26 PM »
I did a few round trips in the mid .2 to high .3 range but I'm still hodling strong.  Crypto currency is one of the most significant financial developments of our lifetime.  I don't want to over intellectualize it, but this is one of the recent advances that has my mind racing.  I've also been trading one of admin's favorite tech companies, NVDA.  https://time.com/5955412/artificial-intelligence-nvidia-jensen-huang
My knowledge level on both of these subjects is about the same as it is on relativity.  I can use it in a sentence.  In Doge lingo, WOW much blaze.

PonoBill

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Re: Doge to a Dollar
« Reply #18 on: April 21, 2021, 09:12:30 PM »
The sidebar ad is for Donald Trump coins. I could Hodl some of those if I wanted a coin with a schmuck who looks like he's terminally constipated on the face.
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Beasho

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Re: Doge to a Dollar
« Reply #19 on: April 22, 2021, 07:43:12 AM »
A doctor friend asked me about crypto last weekend.  I said "I don't know anything."

Then I said "Not totally true here is my advice back up the truck and buy VTI.  Then go surf or hockey skate or ride your bike and do whatever it is you like to do."  What is VTI? he said - Problem Statement!

In Sapiens Yuval Harari claimed Currency the greatest human invention EVER.  The US Dollar, VTI and Crypto all being versions of that concept.  The difference is that the Federal Government will do everything NOT to fail.  Hence the foundation for the US Dollar. 

VTI (Vanguard Total Stock Index) benefits from:

1) US Economy
2) Industriousness of US
3) Ever Increasing Productivity in the form of GDP rising faster than Inflation

and extremely LOW cost.

This is the top of my bookshelf with my investing tomes (what has survived). I am especially grateful to my friend Andrew who gave me a copy of A Random Walk Down Wall Street in 1995.  A Random Walk was worth many 1,000's X its cost.  Better than Apple, or Netflix or Tesla.  Index funds will beat 95% of investment professionals.  Without inside information or Artificial Intelligence don't even attempt to be in the top 5%.   This coming from someone who traded for 10 years and started a hedge fund only to get buzz sawed by the 2008 financial crisis. 

Tulip Bulbs anyone?
« Last Edit: April 22, 2021, 07:44:59 AM by Beasho »

PonoBill

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Re: Doge to a Dollar
« Reply #20 on: April 22, 2021, 09:23:33 AM »
When the doctors and dentists get interested it's time to run the other way.
Foote 10'4X34", SIC 17.5 V1 hollow and an EPS one in Hood River. Foote 9'0" x 31", L41 8'8", 18' Speedboard, etc. etc.

Tom

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Re: Doge to a Dollar
« Reply #21 on: April 22, 2021, 04:27:36 PM »
Maybe some of you cryptocoin guys can explain something to me. I have a passing interest in cryptocurrency, I know a little bit about it, and my impression is that it is just an investment (gambling) vehicle. I understand the principle that it is designed as a new type of universal currency that can be used to buy things anywhere, BUT I have never talked to anyone who has ever bought anything with it. It seems that people only buy and sell the coins as an investment. If someone owns $1,000 worth of bitcoins they're not going to use it to buy $1,000 worth of goods because they're afraid they'd miss out on a chance to double their money in a day or two. It seems to me that crypto currency is just todays replacement for yesterday's beanie babies.
So, what am I missing?

PonoBill

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Re: Doge to a Dollar
« Reply #22 on: April 22, 2021, 08:02:40 PM »
The underlying tech is hugely important. Imagine conducting a transaction with someone anywhere that is absolutely secure. Actually, secure is not the right word. Where they can never deny that the transaction occurred and they accepted it.

What's getting traded is not that. In AI speak it's a fundamentally degraded version of that. Bitcoin is now rare and expensive because mining more is increasingly expensive. The carbon signature for one bitcoin is roughly equivalent to building ten cars. And the cost is consistent with that. I think I have one or two bitcoins someplace, in the beginning, they were easy to mine-- I did it with a PC I wasn't using. Now they aren't.

Most of the new cryptocurrency is NOT mined, it's allocated. It's fundamentally identical to fiat currency except the fiat is not from the bank of England, or the US Treasury, it's from Fred. Fred says he's creating 1 billion Fredcoins and the value is one dollar. Fred has just created one billion dollars. Except I think Fred is a hapless dick and the most I'll pay for them is .0001 dollars. Fred is happy to sell me some. I buy ten thousand. And pay Fred enough to go buy a six-pack.

Fred's tech is fine, the currency is non-fungible, which means I can't just make a bunch of copies and claim they are FredBucks. Some other folks are impressed with this and I can sell my Fred Bucks to them for .0002 dollars. I've doubled my money and I can now buy two six-packs. Holy shit, I could get rich at this. All I have to do is spend every waking minute looking at currencies with no particular basis in their value and trade them. sell them when they rise (or HODL them until they reach a buck and I'm a Fredionnaire). If this sounds like horseshit to you, you could just substitute Tulips or the stupid mortgage credit bundles for Fredbucks.

The tech is cool, the current craze has all the relevance of whatever the fuck Kim Kardasian is doing to make her next billion--cool that she can do it, but no one wants to look at my ass. Cool that she can do it, but I'm out.

Like Chan. I've never had a conversation with her that I didn't come away thinking--OK, I'm not as smart as she is, but I can sort of keep up with what she's saying. That doesn't mean I should copy what she does. I'll just admire it from a distance and hope I don't get hurt by it. I suspect Admin feels the same way.
« Last Edit: April 22, 2021, 08:13:11 PM by PonoBill »
Foote 10'4X34", SIC 17.5 V1 hollow and an EPS one in Hood River. Foote 9'0" x 31", L41 8'8", 18' Speedboard, etc. etc.

surfcowboy

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Re: Doge to a Dollar
« Reply #23 on: April 22, 2021, 08:18:14 PM »
As usual Pono summarizes well. The decline of cash is bad for privacy. The blockchain gives us the anonymity of cash with the security and convenience of digital.

Beyond currency imagine if tickets were digital but you didn’t have to give your name or ID to use them etc. Limitless uses for the technology.

Admin

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Re: Doge to a Dollar
« Reply #24 on: April 23, 2021, 03:40:29 AM »
I just love the absurd, and Doge is as absurd as it gets. 

I suspect that very few Dogers have a real grasp of what they are hodling.  There is great beauty in that. 

Here is a fun article from 2018 that gives (dated) insight into one of the two Doge founders.  How much he thinks that has all changed now would be interesting to know.

“A lot of what I do is trying to understand and then measure, qualify this stuff about adoption, and actual decentralization,” he says. “Bitcoin’s become a little bit like a religion, a little cult-like, and I think that’s not a good way to treat a technology. You should actually treat it proportionally to the value it adds back to society, which I think at this point of time—objectively—is very little.”

This is the key message that Palmer is keen to impart to his followers, as well as the fact that we are still in the early days of what cryptocurrency might be.

“I think that it’s still an unproven paradigm. A lot of people have this blind faith that it’s the future of everything and I think it’s important to have some skepticism there.” He also points to the materialistic attitude that's been cultivated as a reason why the industry finds itself rampant with speculators but virtually no users. “I think because it has money attached to it, it’s also incentivized people to be less reflective on its actual use because they don’t want to devalue their investment.”


Here is another interesting tidbit.  My understanding is that China has direct control over 80% of the current blockchain (the ledger) functions.  Think about that.

China powers nearly 80% of the global cryptocurrencies trade, but the energy required could jeopardise its pledge to peak carbon emissions by 2030

China banned trading in cryptocurrencies in 2019 to prevent money laundering, but mining is permitted.


https://www.theguardian.com/technology/2021/apr/07/china-bitcoin-mining-climate-targets-nature-study
« Last Edit: April 23, 2021, 04:01:35 AM by Admin »

Beasho

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Re: Doge to a Dollar
« Reply #25 on: April 23, 2021, 06:46:10 AM »
When the doctors and dentists get interested it's time to run the other way.

That was the underlying jab.  Doctors, Dentists, Taxi Drivers and now Millennials talking up their latest investment is the signal we are topping and about to crash.

Boomerang by Michael Lewis is another great book.  He interviews the up and coming "Hedge Fund" captains in Iceland circa 2008.  He asks them why they should be better than the ex Goldman Sachs NY fat cat at running their respective Hedge Fund.  He compares it to fishing and how long it would take to master the fisher trade in Iceland "At least 30 years before you would have a chance of being one of the best . . ."  Oh really!

Chan

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Re: Doge to a Dollar
« Reply #26 on: April 23, 2021, 07:52:12 AM »
This is where it gets interesting.  Crypto is morphing from a primarily speculative investment, kind of like coin collection but an absurd version because of unlimited (doge) or massive (bit) supply into, for lack of a better word, currency.  The first fiat currency to be widely adopted and not backed by a government.  This is a monumental event.  One that I have had some strong misgivings about.  I think it will (is) happening and my sentiment is becoming more positive.  Like most advances, it has the potential for good.   After the speculative frenzy and the get rich quick schemes subside, I think a stable crypto currency will remain.  It will be used in the real world to purchase cars and shoes and in the virtual world to purchase skins and wings.

This brings me back to the article I posted earlier where Huang explains:

"In the future, the digital world or the virtual world will be thousands of times bigger than the physical world. There will be a new New York City. There’ll be a new Shanghai. Every single factory and every single building will have a digital twin that will simulate and track the physical version of it. Always. By doing so, engineers and software programmers could simulate new software that will ultimately run in the physical version of the car, the physical version of the robot, the physical version of the airport, the physical version of the building. All of the software that’s going to be running in these physical things will be simulated in the digital twin first, and then it will be downloaded into the physical version. And as a result, the product keeps getting better at an exponential rate.

The second thing is, you’re going to be able to go in and out of the two worlds through wormholes. We’ll go into the virtual world using virtual reality, and the objects in the virtual world, in the digital world, will come into the physical world, using augmented reality. So what’s going to happen is pieces of the digital world will be temporarily, or even semipermanently, augmenting our physical world. It’s ultimately about the fusion of the virtual world and the physical world."

If you have any doubt try the newest Oculus options and then have a look a this,

https://www.youtube.com/watch?v=E6RgKoVsIiM


« Last Edit: April 23, 2021, 08:01:31 AM by Chan »

PonoBill

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Re: Doge to a Dollar
« Reply #27 on: April 23, 2021, 11:57:27 AM »
I suspect that very few Dogers have a real grasp of what they are hodling.  There is great beauty in that. 


Hence my Fibonacci, Fractal, Bowel cleanse comment. They say the words like it's an incantation. I see the light in their eyes, but it's not the light of knowledge. It's fever. That doesn't mean people won't make money screwing with this, but I'm not going to play. I burned out my speculation fever buying a bunch of Tesla when it bottomed out before the stock split. I know all too well that a big success breeds a bigger failure. I've seen and known a lot of people that thought their success meant they knew what they were doing. I'm sure some people do, but I absolutely know that I don't.
Foote 10'4X34", SIC 17.5 V1 hollow and an EPS one in Hood River. Foote 9'0" x 31", L41 8'8", 18' Speedboard, etc. etc.

Admin

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Re: Doge to a Dollar
« Reply #28 on: April 23, 2021, 12:12:51 PM »
Show them this :)

https://txstreet.com/

Admin

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Re: Doge to a Dollar
« Reply #29 on: April 23, 2021, 12:38:34 PM »

 


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