SuzukiSavage.com - Call me stupid.....

raydawg

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Call me stupid.....
03/09/18 at 15:10:26

I read most of this and.........
I still don’t get it.

I read the comments.
That only made it worse.

What in the heck is a bitcoin, is it a commodity of physical nature I can touch, hold?
How is it made?
How is it used in commerce outside of what looks like eggheads and a different language and world?

https://www.politico.com/magazine/story/2018/03/09/bitcoin-mining-energy-pric...

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“The biggest big business in America is not steel, automobiles, or television. It is the manufacture, refinement and distribution of anxiety.”—Eric Sevareid (1964)

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Papa Bear Senior Member Offline Posts: 476 Canada ... near the Motor City Gender:	Re: Call me stupid..... Reply #1 - 03/10/18 at 05:22:14 A bitcoin is one step further into a parallel universe from a dotcom CRACKLE has a cool TV series called "StartUp" which explains (kinda) the crypto currency values and popularity
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raydawg

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Re: Call me stupid.....
Reply #2 - 03/10/18 at 08:38:31

Papa Bear wrote on 03/10/18 at 05:22:14:

A bitcoin is one step further into a parallel universe from a dotcom Cool

CRACKLE has a cool TV series called "StartUp" which explains (kinda) the crypto currency values and popularity

So, it is selling of a "cyber-universe" commodity that I can't use for anything else, like say futures on oranges, where I can eat, or squeeze it, if I get stuck holding the paper on its maturity?

Its not so much the domain, itself, but the access, or power/energy, to drive it?

Please say yes, because this is as far as my itsy bitsy mind can extend itself Embarrassed

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“The biggest big business in America is not steel, automobiles, or television. It is the manufacture, refinement and distribution of anxiety.”—Eric Sevareid (1964)

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raydawg

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Re: Call me stupid.....
Reply #3 - 03/10/18 at 08:48:33

Just saw this.....YIKES!

Saudi Aramco, the state-owned oil company, just announced it will infuse $30 billion into its Port Arthur, Texas refinery by 2023, creating 12,000 new jobs. This ahead of its highly anticipated initial public offering, which could value the company around $2 trillion, making Exxon Mobil and Chevron look like the little guys. The average investor will also have a chance to buy into the IPO, which could be listed on the New York Stock Exchange. Winning this listing, or at least part of it, has received support from President Trump.

Plus, OPEC (the Organization of the Petroleum Exporting Countries) is seeking to diversify into new and novel oil and energy-related projects. I spent some time with both Aramco and OPEC officials discussing an oil-backed cryptocurrency. There's lots of out-of-the-box thinking, and the future seems wide open to many.

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“The biggest big business in America is not steel, automobiles, or television. It is the manufacture, refinement and distribution of anxiety.”—Eric Sevareid (1964)

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Ruttly Serious Thumper Offline Thumpers Rule Posts: 5157 Manteca , CA Gender:	Re: Call me stupid..... Reply #4 - 03/11/18 at 10:39:51 STUPID! Sorry couldn't help it !
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Papa Bear

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Re: Call me stupid.....
Reply #5 - 03/11/18 at 11:10:39

Anyone can accept bitcoin for items/services... and use it with anyone else who accepts it.

Actually, since the US left the gold standard, a $1.00 bill's value is equal to what scrap paper is worth - someone (everyone) says it's worth 100 pennies and they are more valuable as scrap metal Cool

The value of currency is what we agree to place on it.
(Barter is beginning to get more attractive every day)

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HAPPYDAN Senior Member Offline SuzukiSavage.com Rocks! Posts: 270	Re: Call me stupid..... Reply #6 - 03/11/18 at 11:27:34 Check out the April 2018 copy of Popular Mechanics, page 16. Good, comprehensive article on Cryptocurrency, including Bitcoin and others. BTW, they have a good reference to a guy who bought a Lambo, after he started with 45 Bitcoins .
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MMRanch Serious Thumper Offline Evil flourishes if Good Men do Nothing. Posts: 5857 LYNCHBURG TN Gender:	Re: Call me stupid..... Reply #7 - 03/11/18 at 11:37:02 Makes me glad to have a Visa Card Yes , I'm clueless on the term : Bitcoin also But , what if it was like a cross between (a green back) and (a credit card) ?
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raydawg Serious Thumper Offline SuzukiSavage.com Rocks! Posts: 11551 pacific northwest Gender:	Re: Call me stupid..... Reply #8 - 03/11/18 at 16:14:39 MMRanch wrote on 03/11/18 at 11:37:02: Makes me glad to have a Visa Card Yes , I'm clueless on the term : Bitcoin also But , what if it was like a cross between (a green back) and (a credit card) ? Not sure I've ever seen an illegal Irish/Mexican....... before
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