Cryptocurrency - help me understand please.

I don't know didley about crypto, and Warren Buffet's first rule of investing is never put money into something you don't understand.

However, this recent commercial for FTX, a crypto broker is a riot.

 

Exactly. This also explains the rise of Non Fungible Tokens (NFTs) as well. Artists will sell a picture of one of their works or the NBA will sell a picture from a game as an NFT. The same people hustling to make money trading crypto are trading NFTs. This is what happens when the money supply has run amok.

 

When the government introduces the FedCoin a Central Bank digital currency they will make bitcoin illegal.
Most likely before the demonrats loose the house and senate.

 

Nfts HAVE value, just not their current form, consider a later incarnation as "digital rights", a sort of copyright

Who owns YOUR digital data? Certainly you dont, but if we ever get over some peoples beleif that digital stuff cant be owned, it might be for the best...

The way its being done now, yeah its pretty dumb though, that i will certainly grant

 

I think I have a working understanding of Bitcoin and other crypto currencies.

From my Economics training I understand that for things to have value, there must be scarcity. This is where I struggle with crypto, today. I don’t see scarcity in crypto currencies. Yes, EACH version has built in scarcity, but crypto, as a whole, doesn’t. People are “inventing” new ones, not rarely as just a lark, seems like daily.

Some cryptos seem to have much better functionality than others, which should, logically, given them a leg up, yet Bitcoin, with horrible transaction speed and volume limitations, seems to be a leader. That makes no sense.

So, I can’t see the scarcity, and functionality seems irrelevant in valuation..... so I’m going with the whole thing being in its infancy and what is happening now is not necessarily an indication of how it’s going to end up. Call me a Luddite.......

 

Could be that is how she and her sis bought out their Dad. The new trucks and trailers on order she mentioned; before ceasing posting, will need a lot of "currency" of some kind. Miss her posts, were vert interesting.

 

Off topic, but I saw @Chinatown post about @Pamela1990 . Whatever happened to her? She had some good content.

 

Alright, so I am guessing I'm the only one mining cryptocurrency on here? Or is anyone else involved with that? I made around $4,000 last year, profited about $3000 from flipping equipment, and now I'm mining around $100-$130 a month in Ethereum Classic. Just my personal experience, I didn't play in the market much. Most of the people I watch mining cryptocurrencies are betting on ERG, because ETH is switching to POS from POW and that will cause a massive amount of mining power to go over to ERG. I'm talking people mining with 100 gpus making $200+ a day easily in profit. Invest in what you work in. You know all these trucking companies are making moves. So when company A is buying company B, maybe that's a good time to buy their stock? I love trucking, but it's crazy seeing how much money some 19 year old kid who learned about mining 5 years ago has. I'm hoping that's my kids. LMAO

 

Thats great your making money on it, i am curious what including electricity cost does to that (or is that already calculated out?) I dont expect electricity cost to be massive especially as a % of your house bill unless youve got a massive setup

 

Jesus, you're speaking a language that I don't understand.