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Do any of you old farts own, trade, or follow cryptocurrency? I'm not overly versed in the different technologies, but I do have 3% of my portfolio in bitcoin. I'm waiting to see if the SEC allows ETFs for it. There also is a halving event next year.

i have tried to understand how they work and I just can't get a grip on it. So, I have steered clear for that reason.

Animal wrote: ↑Mon Sep 18, 2023 9:17 pm i have tried to understand how they work and I just can't get a grip on it. So, I have steered clear for that reason.

Think of them like gold in that they are mined and considered rare therefore valuable. That's basically it. The issue lies in convincing people to consider them as a viable and reliable form of currency worthy of trading and being used as such. People are wary of them because there's no government oversight, which is the point of bitcoin. And many in bitcoin feel the reason people are wary of it is because the government is putting out propaganda against it so they maintain control over currency.

Make of this what you will. I am not endorsing any strategy.

https://ambcrypto.com/why-blackrock-thi ... 40%20ratio

necronomous wrote: ↑Mon Sep 18, 2023 10:25 pm

Animal wrote: ↑Mon Sep 18, 2023 9:17 pm i have tried to understand how they work and I just can't get a grip on it. So, I have steered clear for that reason.

Think of them like gold in that they are mined and considered rare therefore valuable. That's basically it. The issue lies in convincing people to consider them as a viable and reliable form of currency worthy of trading and being used as such. People are wary of them because there's no government oversight, which is the point of bitcoin. And many in bitcoin feel the reason people are wary of it is because the government is putting out propaganda against it so they maintain control over currency.

I can think of them like that, but they really aren't anything like that. Gold is a physical object with properties. The properties it possesses gives it value beyond the money conversion. Its a good conductor of electricity, it is almost indestructible, it can be easily molded, its nice to look at, etc. You can actually cash in and collect your gold in coins or bullion or ingots, etc.

bitcoin is mined by running millions of hours of data (or something like that).

Animal wrote: ↑Mon Sep 18, 2023 9:17 pm i have tried to understand how they work and I just can't get a grip on it. So, I have steered clear for that reason.

Never stopped you from posting on almost any topic on here. Why stop now?

Animal wrote: ↑Mon Sep 18, 2023 11:44 pm

necronomous wrote: ↑Mon Sep 18, 2023 10:25 pm

Animal wrote: ↑Mon Sep 18, 2023 9:17 pm i have tried to understand how they work and I just can't get a grip on it. So, I have steered clear for that reason.

Think of them like gold in that they are mined and considered rare therefore valuable. That's basically it. The issue lies in convincing people to consider them as a viable and reliable form of currency worthy of trading and being used as such. People are wary of them because there's no government oversight, which is the point of bitcoin. And many in bitcoin feel the reason people are wary of it is because the government is putting out propaganda against it so they maintain control over currency.

I can think of them like that, but they really aren't anything like that. Gold is a physical object with properties. The properties it possesses gives it value beyond the money conversion. Its a good conductor of electricity, it is almost indestructible, it can be easily molded, its nice to look at, etc. You can actually cash in and collect your gold in coins or bullion or ingots, etc.

bitcoin is mined by running millions of hours of data (or something like that).

I was talking about just the mining and rarity part that gives it its "value" nothing else.

I don't currently own any but I'm not against a speculative position.

necronomous wrote: ↑Tue Sep 19, 2023 12:49 am

Animal wrote: ↑Mon Sep 18, 2023 11:44 pm

necronomous wrote: ↑Mon Sep 18, 2023 10:25 pm

Animal wrote: ↑Mon Sep 18, 2023 9:17 pm i have tried to understand how they work and I just can't get a grip on it. So, I have steered clear for that reason.

Think of them like gold in that they are mined and considered rare therefore valuable. That's basically it. The issue lies in convincing people to consider them as a viable and reliable form of currency worthy of trading and being used as such. People are wary of them because there's no government oversight, which is the point of bitcoin. And many in bitcoin feel the reason people are wary of it is because the government is putting out propaganda against it so they maintain control over currency.

I can think of them like that, but they really aren't anything like that. Gold is a physical object with properties. The properties it possesses gives it value beyond the money conversion. Its a good conductor of electricity, it is almost indestructible, it can be easily molded, its nice to look at, etc. You can actually cash in and collect your gold in coins or bullion or ingots, etc.

bitcoin is mined by running millions of hours of data (or something like that).

I was talking about just the mining and rarity part that gives it its "value" nothing else.

for me its sort of like those NFT's or whatever they are called. where you own the rights to something but you don't really have it in your possession. And several people can own it (mostly artwork, etc). I just don't really understand it and its probably one of those things that the only way to understand it is to actually buy it. I remember someone trying to explains futures contracts to me when I was in my 20's. I had no idea what they were talking about, but i started trading them and quickly figured it out and now they make perfect sense. The thing that concerns me so much with bitcoin is that it is all digital and online. And if we have learned anything its that no one, and I mean no one has been able to hacker proof anything online. so i don't know why bitcoins would be any different. why can't they hacker mine them or create them?

Animal wrote: ↑Tue Sep 19, 2023 1:19 am

necronomous wrote: ↑Tue Sep 19, 2023 12:49 am

Animal wrote: ↑Mon Sep 18, 2023 11:44 pm

necronomous wrote: ↑Mon Sep 18, 2023 10:25 pm

Animal wrote: ↑Mon Sep 18, 2023 9:17 pm i have tried to understand how they work and I just can't get a grip on it. So, I have steered clear for that reason.

Think of them like gold in that they are mined and considered rare therefore valuable. That's basically it. The issue lies in convincing people to consider them as a viable and reliable form of currency worthy of trading and being used as such. People are wary of them because there's no government oversight, which is the point of bitcoin. And many in bitcoin feel the reason people are wary of it is because the government is putting out propaganda against it so they maintain control over currency.

I can think of them like that, but they really aren't anything like that. Gold is a physical object with properties. The properties it possesses gives it value beyond the money conversion. Its a good conductor of electricity, it is almost indestructible, it can be easily molded, its nice to look at, etc. You can actually cash in and collect your gold in coins or bullion or ingots, etc.

bitcoin is mined by running millions of hours of data (or something like that).

I was talking about just the mining and rarity part that gives it its "value" nothing else.

for me its sort of like those NFT's or whatever they are called. where you own the rights to something but you don't really have it in your possession. And several people can own it (mostly artwork, etc). I just don't really understand it and its probably one of those things that the only way to understand it is to actually buy it. I remember someone trying to explains futures contracts to me when I was in my 20's. I had no idea what they were talking about, but i started trading them and quickly figured it out and now they make perfect sense. The thing that concerns me so much with bitcoin is that it is all digital and online. And if we have learned anything its that no one, and I mean no one has been able to hacker proof anything online. so i don't know why bitcoins would be any different. why can't they hacker mine them or create them?

I don't have anywhere near the acumen to explain it to you. I can tell you, that if you use a "cold wallet", no one can take your money from you, unless you are stupid and let them know your personal passwords.

Mines in a Kraken acct. not much.

Charliesheen wrote: ↑Tue Sep 19, 2023 3:45 am Mine's in a Kraken acct. not much.

apostrophes.

Animal wrote: ↑Tue Sep 19, 2023 1:19 am

necronomous wrote: ↑Tue Sep 19, 2023 12:49 am

Animal wrote: ↑Mon Sep 18, 2023 11:44 pm

necronomous wrote: ↑Mon Sep 18, 2023 10:25 pm

Animal wrote: ↑Mon Sep 18, 2023 9:17 pm i have tried to understand how they work and I just can't get a grip on it. So, I have steered clear for that reason.

Think of them like gold in that they are mined and considered rare therefore valuable. That's basically it. The issue lies in convincing people to consider them as a viable and reliable form of currency worthy of trading and being used as such. People are wary of them because there's no government oversight, which is the point of bitcoin. And many in bitcoin feel the reason people are wary of it is because the government is putting out propaganda against it so they maintain control over currency.

I can think of them like that, but they really aren't anything like that. Gold is a physical object with properties. The properties it possesses gives it value beyond the money conversion. Its a good conductor of electricity, it is almost indestructible, it can be easily molded, its nice to look at, etc. You can actually cash in and collect your gold in coins or bullion or ingots, etc.

bitcoin is mined by running millions of hours of data (or something like that).

I was talking about just the mining and rarity part that gives it its "value" nothing else.

for me its sort of like those NFT's or whatever they are called. where you own the rights to something but you don't really have it in your possession. And several people can own it (mostly artwork, etc). I just don't really understand it and its probably one of those things that the only way to understand it is to actually buy it. I remember someone trying to explains futures contracts to me when I was in my 20's. I had no idea what they were talking about, but i started trading them and quickly figured it out and now they make perfect sense. The thing that concerns me so much with bitcoin is that it is all digital and online. And if we have learned anything its that no one, and I mean no one has been able to hacker proof anything online. so i don't know why bitcoins would be any different. why can't they hacker mine them or create them?

They...anyone really can mine them, just like gold, but they cannot recreate them. The bitcoins that are mined are a specific data set that can't be replicated . They can create a new coin, but then they would have to prove the viability of it. And once they are mined, they can't be re-mined, they are now out of the "mine"( internet). You can't copy them or duplicate them because of how they are created and mined. It's too complex. You can't hack them because of how they are stored online. You are not going into a specific place. They are sets of data at different places that sort of fit together. Technically the mining is the hacking and vice-versa. By the time you have tried to retrieve the coins through "hacking" you've mined it and have the coin. And there is only so many of these complex coins out there. That's why they are "rare" and can be seen as a commodity. Think of it like this, one coin has been cut into ten pieces and you have to walk to different places to get them. They are dug deep in the ground. So you walk to each place dig them up and then go to the next place. There is no one real place you can dig and get a coin. By the time you're done walking and digging in this "hack" you've retrieved the actual coin just like everyone else. So the hack was pointless. The only thing you can do is have faster or more computers, which I believe is the investment you will be making. You're investing into companies that dig faster than a single person can. But the single person can find them too, but there is only so many of the coins to go get.

Currencies are only as strong as the military backing them. There's still plenty of money to be made before the facade collapses.

It could just be a temporary blip, but Bitcoin is shooting up currently.

Animal wrote: ↑Mon Sep 18, 2023 9:17 pm i have tried to understand how they work and I just can't get a grip on it. So, I have steered clear for that reason.

It's a lot of math.

stonedmegman wrote: ↑Tue Dec 05, 2023 7:32 pm

Animal wrote: ↑Mon Sep 18, 2023 9:17 pm i have tried to understand how they work and I just can't get a grip on it. So, I have steered clear for that reason.

It's a lot of math.

its the kind of math that allows you to divide by zero. which i'm not good at.

Animal wrote: ↑Tue Dec 05, 2023 10:05 pm

stonedmegman wrote: ↑Tue Dec 05, 2023 7:32 pm

Animal wrote: ↑Mon Sep 18, 2023 9:17 pm i have tried to understand how they work and I just can't get a grip on it. So, I have steered clear for that reason.

It's a lot of math.

its the kind of math that allows you to divide by zero. which i'm not good at.

if i buy it you can definitely divide it by zero

Animal wrote: ↑Tue Dec 05, 2023 10:05 pm

stonedmegman wrote: ↑Tue Dec 05, 2023 7:32 pm

Animal wrote: ↑Mon Sep 18, 2023 9:17 pm i have tried to understand how they work and I just can't get a grip on it. So, I have steered clear for that reason.

It's a lot of math.

its the kind of math that allows you to divide by zero. which i'm not good at.

ax2 + bx + c = 0

\begin{array}{l}x=\frac{-b\pm \sqrt{b^2-4ac}}{2a}\end{array}

hmm, no one ever overthinks anything here...

Animal wrote: ↑Wed Dec 06, 2023 12:41 am \begin{array}{l}x=\frac{-b\pm \sqrt{b^2-4ac}}{2a}\end{array}

Did you just have a stroke?

i just stroked your mom.

Homebrew wrote: ↑Wed Dec 06, 2023 8:10 pm

Animal wrote: ↑Wed Dec 06, 2023 12:41 am \begin{array}{l}x=\frac{-b\pm \sqrt{b^2-4ac}}{2a}\end{array}

Did you just have a stroke?

About every 2.34 years, his Aggie education comes back like a flashback.

Animal wrote: ↑Wed Dec 06, 2023 8:37 pm i just stroked your mom.

She's been dead for 14yrs and was cremated. You should probably wash the dust off of your fingers.