Crypto Currency Thread

[wanderer89]

Thanks for the reply.

Didn’t mean to sound critical, it’s just completely at odds with my way of thinking and from the outside a lot of things Crypto don’t seem to stack up, but fair play to your mate if he’s ‘banked’ his profit (Golden rule number 1) and spending it as he sees fit.

You’re good fella, didn’t take it that way.

Yeah I was tempted but couldn’t justify £600 on a gamble. Hindsight is obviously 20/20 but I’m definitely jealous!

 

[Paddingtonwolf]

Crypto is never going to take over from hard currency. That’s an absolute pipe dream from those investing in crypto.

You would need a much higher percentage of the population to have and even want access to crypto. You would need retailers to set up systems to accept and convert crypto. You would need the banks on board.

It will never happen.

 

[KentWolf]

Crypto is never going to take over from hard currency. That’s an absolute pipe dream from those investing in crypto.

You would need a much higher percentage of the population to have and even want access to crypto. You would need retailers to set up systems to accept and convert crypto. You would need the banks on board.

It will never happen.

And aircraft carriers were irrelevant to the Italian navy (Mussolini), the submarine was simply not British (some UK admiral whose name I forget) and we will take the whole of Ukraine in three weeks (Putin's advisors).

 

[Paddingtonwolf]

Okaaay. You are asking retailers and banks to take the risk of crypto currency fluctuations and the stuff is way too volatile. Alright the pound isn’t tied to the gold standard any more but it is far more stable.

Plus all banks hold their reserves in hard currency and things like gold and government bonds. They aren’t going to suddenly switch to crypto. There is a reason why they don’t play with the stuff now. They are too risk averse.

Edit - apropos of nothing, although Mussolini did say that about aircraft carriers, the real change was in the Imperial Japanese navy. At the start of the war they commissioned Yamato and Musashi to be the biggest battleships afloat and blow the US Iowa class out of the water. After a few cuffings in the pacific the third ship Shonanu was converted to a carrier and all their building went down the carrier route. They already had plenty as Pearl Harbour showed, but the head honchos really believed in battleship power until about 1942-1943.

 

[KentWolf]

Okaaay. You are asking retailers and banks to take the risk of crypto currency fluctuations and the stuff is way too volatile. Alright the pound isn’t tied to the gold standard any more but it is far more stable.

Plus all banks hold their reserves in hard currency and things like gold and government bonds. They aren’t going to suddenly switch to crypto. There is a reason why they don’t play with the stuff now. They are too risk averse.

Edit - apropos of nothing, although Mussolini did say that about aircraft carriers, the real change was in the Imperial Japanese navy. At the start of the war they commissioned Yamato and Musashi to be the biggest battleships afloat and blow the US Iowa class out of the water. After a few cuffings in the pacific the third ship Shonanu was converted to a carrier and all their building went down the carrier route. They already had plenty as Pearl Harbour showed, but the head honchos really believed in battleship power until about 1942-1943.

Retailers, banks and all other venues that accept payment do so through, mostly, electronic means. I see people pay with their phones for shopping regularly. In Margate. How did that happen when a couple of decades ago trying to pay for a few pints with a card was incomprehensible. Things change.

Banks hold their reserves in hard currency. Well guess what. It is not any harder a currency than crypto. You are onto a common myth there. Crypto is what it is. A holding of value. It might go up, it might go down. Just like a fiat currency. You seem to think the value fluctuates wildly. In the last month BTC has held an average value of $26,581k and has fluctuated between $25k and $28k but most of the time it has been $26,5k. In the last year the average is $26,829. You must get where I'm going here. It isn't aircraft carrier warfare.

I am fully aware of Japanese naval warfare doctrine from WWII. But thanks for the input. Even though it could have been much more detailed.

 

[Paddingtonwolf]

I could have mentioned a lot more as it’s an area of interest, but it really was only an aside to give a little interest nothing more!

I guess we probably don’t agree about crypto as a functioning payment currency. Without wishing to put words into your mouth I think you are “maybe one day in the not too distant future” whereas I am in the “not in my lifetime” sort of thought. We will see I guess.

 

[Kenny]

I am fully aware of Japanese naval warfare doctrine from WWII. But thanks for the input. Even though it could have been much more detailed.

 

[KentWolf]

I could have mentioned a lot more as it’s an area of interest, but it really was only an aside to give a little interest nothing more!

I guess we probably don’t agree about crypto as a functioning payment currency. Without wishing to put words into your mouth I think you are “maybe one day in the not too distant future” whereas I am in the “not in my lifetime” sort of thought. We will see I guess.

Yes, that's more or less where I am. Although it might take 10-15 years (if that counts as not to distant future).

I too am interested in naval warfare and have read quite widly on the subject. But TBH I don't think we need to start a thread about it! I suspect it would just be us two largly agreeing with each other

 

[Del Woppio]

You've not had many engagements with Paddy I take it

 

[Quirkafleeg]

Zoo's use Paddy to put their animals to sleep save them using tranquilizer darts.

 

[KentWolf]

You've not had many engagements with Paddy I take it

No, this is the first one. But it seems we mostly agree on what little has been said about the IJN in WWII

 

[Paddingtonwolf]

Quirk is probably right! I love D&D, naval warfare history, wargaming, and building accurate model ships. It’s a powerful tranquilliser dart for those without those areas of interest.

 

[KentWolf]

I've done pen and paper role playing in the past. And would do again. I've a large collection of T&T stuff. If by wargame you don't mean historical games then I've done that n all, got a lot of BattleTech stuff, some of the old FASA Star Trek stuff as well as some Steve Jackson's Games Car Wars stuff. Plus some other odds and sods

 

[Deutsch Wolf]

You know in aquariums how it tells you not to tap on the glass?

Don't tap on the glass.

 

[KentWolf]

Okay, I promise not to mention RPG's, wargames or the IJN again

 

[Quirkafleeg]

You know in aquariums how it tells you not to tap on the glass?

Don't tap on the glass.

LMFAOOOOOOOOOOOOOOOOOOOOOOOO

 

[AndyWolves]

At a bit of a tangent, I read today, to the utter suprise of no one, that NFTs are mostly now worthless.

 

[KentWolf]

At a bit of a tangent, I read today, to the utter suprise of no one, that NFTs are mostly now worthless.

I suspect it surprised quite a few people. Not me though.

And this https://www.bbc.co.uk/news/world-asia-china-66874170 I like the line 'Many of the complainants are inexperienced investors who were promised high yields, police said.' As soon as someone promises high yields on crypto you know it's a scam.

 

[Johnny75]

BBC News - JPEX: Hong Kong investigates influencer-backed crypto exchange

JPEX: Hong Kong investigates influencer-backed crypto exchange

About 2,000 investors lost money on the JPEX platform which was advertised on Hong Kong's metro.

www.bbc.co.uk