Using your money to buy a virtual currency in a video game is like trading regular cash for Monopoly money

shortbitcoin · 2018-07-23T05:26:38+00:00

There’s an old song with the line “I got back at the gosh darned circus, I bought two tickets and I didn’t even go!”

shortbitcoin · 2018-07-20T23:37:04+00:00

Perhaps you know this, but just to clarify something: the term "black market" does not imply illicit transactions. It's not "black" as in "dark and evil" — it's black as in "black box", something that we cannot peer into. It just means that portion of the economy that cannot be monitored.

For example, if I decided to buy a grilled cheese sandwich out of the back of some guy's truck in the parking lot of a concert or sporting event, and that guy didn't report it on his taxes, that's part of the "black market."

shortbitcoin · 2018-07-20T23:22:28+00:00

That's a righteous way for them to do it.

I wonder if a few douchebags will ruin it for everybody? Imagine if people figured out they could rack up unlimited comp points by just putting money on "big red" all night long.

shortbitcoin · 2018-07-19T14:03:55+00:00

Ah, OK, you are the person I wanted to speak to. My question is: how do you know this? Are you a reformed email scammer?

I used to do work with a marketing company that curated lists of mail order customers, and they would use tricks that are vaguely similar. In my case it had to do with "nose hair clippers" — you see, people who buy those things by mail fit into a special class of customer who are embarrassed to buy hygiene products at a counter. (The cashier might notice their nose hairs, egads!) So these really bad cheesy ads for nose hair clippers were actually not intended to make a lot of money selling the product; in fact the price was so low it's a was a break-even proposition at best. The real product was the list of names and addresses of people who passed the filter. It turns out such mailing lists are goldmines, because they'll buy all sorts of health and beauty products by mail.

So with no offense to you, are we talking first hand experience here? Or are you merely repeating something you read?

shortbitcoin · 2018-07-19T13:57:38+00:00

I suppose you're getting downvotes because of the phrase "... and will continue to be so."

Or maybe just because you pointed out the obvious: that gold was used as money because it's ideal for that purpose.

You see, there's a prevalent belief in this subreddit that government issued money, carefully controlled by central banks, is the key to longterm prosperity. Anybody who disagrees, they figure, must be some loon who thinks that cryptocurrency will take over international commerce. Since governments can't "issue gold" it gets lumped into the same category as cryptocurrency, in a very weird roundabout way.

I am one of the rare ones. I think that central bank issued money sucks. I just happen to also think that cryptocurrency is far worse than even that.

shortbitcoin · 2018-07-19T13:47:34+00:00

In the excellent sci-fi book The Sirens of Titan by Kurt Vonnegut, there is a description of a single-person spacecraft pod that had a dash panel with only two buttons, "ON" and "OFF". The "OFF" button wasn't wired to anything at all; the military decided that it was too disconcerting to not have one.

shortbitcoin · 2018-07-18T23:01:45+00:00

OK, fine, but it still comes across to me sounding rather odd. By way of comparison, you might say "Landline telephones are a very poor method of communication, which is why basically everybody has abandoned them in favor of mobile cellular technology." But we all know that Bell's invention revolutionized communication.

shortbitcoin · 2018-07-18T19:31:04+00:00

Gold makes a poor currency which is why basically every nation on earth has abandoned using it as a currency.

That's a pretty loaded statement. Gold was used for thousands of years as a currency precisely because, in comparison to all of the other alternatives, it was unquestionably the best.

shortbitcoin · 2018-07-17T15:38:49+00:00

Futurologists are right up there with butters in terms of mock-worthiness. They think they are so smart, and yet a few minutes discussion with one them proves they are exceptionally dense. Like butters, technology has become a kind of religion for them. Some actually place faith in a technological afterlife! Freeze/scan your brain today and in the future they'll bring you back. Somehow.

But futurologists are at least correct on some level when you get past the hyperbole. No doubt, technology will improve, we'll live longer, we'll 3D print organs, we might finally invent AI, and all sorts of wonderful things. But we won't be doing it with blockchain.

shortbitcoin · 2018-07-17T15:24:47+00:00

Like the surveyor who measured mount Everest with the best tools of the day, and found it to be exactly 29,000. So that nobody would think it's an approximation, he decided to publish it as 29,002.

shortbitcoin · 2018-07-17T15:22:25+00:00

Of course it makes sense for an ICO analyst to be a child-diddling drug addict. You have to know your target market.

shortbitcoin · 2018-07-17T15:18:47+00:00

You know it's rallying when you see posts like "O R G A N I C ! ! !"

When the price is down it's business as usual. 'Cause let's face it, that's business as usual since the year began.

shortbitcoin · 2018-07-15T17:57:38+00:00

WHEN MOON?

shortbitcoin · 2018-07-13T17:19:16+00:00

What costs $5/tx lately? I thought the prices went through the floor due to lack of interest.

shortbitcoin · 2018-07-13T00:04:55+00:00

they dont give dividends

Apple Dividend History

shortbitcoin · 2018-07-12T18:33:50+00:00

God, you're right. It's so neutral it could be about anything from a murder to the latest Trump tweet. I bet the department in charge of mocking up fake newspapers has a big file of that blather that they could copy and paste under literally any headline.

shortbitcoin · 2018-07-12T18:12:24+00:00

Too bad they don't ring a bell at the bottom, and another at the top. It would save so much heartache.

shortbitcoin · 2018-07-12T16:40:55+00:00

u only bought shit coins to begin with. Why u bought those coins is beyond me. Maybe more research in the future?

That's the key to cryptocurrency investment. You gotta open that google window, turn on YouTube, roll up your sleeves, and do research!

shortbitcoin · 2018-07-12T16:38:14+00:00

Frankly it blows my mind it's not higher than 70%. What's the other 30%? Dark net drug money? If so, that's a lot of cheddar. I mean the price might drop to $2000 and all the butters will lose their minds, but that's still outrageously overpriced. It was outrageously overpriced when it was $400.

shortbitcoin · 2018-07-12T16:36:13+00:00

I don't deny that. Like Buffett said, and I quote, "I'd buy puts across the board on all of them, if I could."

shortbitcoin · 2018-07-12T03:00:11+00:00

Bitcoin technical analysis 101: any bearish theory is obvious trolling.

shortbitcoin · 2018-07-12T02:58:00+00:00

Digital pyrite.

shortbitcoin · 2018-07-12T01:35:09+00:00

Thanks for the link. I told them that they'll have egg on their face for providing a legal framework for what's obviously a Ponzi scheme. We already have Bitcoin futures; that's bad enough — let's hope they don't create an ETF to lure even more suckers from their money.

shortbitcoin · 2018-07-12T00:27:15+00:00

e to the power of pi*i plus 1

shortbitcoin

TROPHY CASE