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3 hours ago, BerniePragle said:

My friend told me that story probably 30+ years ago, so it had nothing to do with Crypto.  It was a joke that I just tried to pass along.  I guess, with you at least, it missed its mark.  I've always thought of a sense of humor as an indication of intelligence (or not).

"old guard dork"?  Yeah, I guess that's what I'd call a guy who retired as CFO of an 11 billion dollar company, and is still a Director there.  Trust me, I suspect there is nothing you could hope to explain to me that I'd be slightly interested in.

“The greatest enemy of knowledge is not ignorance, it is the illusion of knowledge.”
― Daniel J. Boorstin - Librarian of the US Congress

Hmm, are you a PSU fan?  Maybe we found the million+ donor from 2017…

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21 hours ago, GreatWhiteNorth said:

Said it before and I'll say it again - Crypto is not a smart, viable investment option. Not even close. Avoid it at all costs.

Even Phineas Taylor Barnum would be shocked by anyone thinking buying crypto is a good idea.

I don’t see the problem with it, as long as you realize it’s pretty much just a speculative asset, and not the future of currency or whatever.  Definitely some pyramid scheme-y aspects to it though, especially in the lesser known coins.  Which to keep this thread wrestling related, I might include RAE in. Still seems sketchy IMO to collect subscription fees in USD, but pay content creators in RAE…

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1 hour ago, Wrestleknownothing said:

Don't let him get to you.

When someone says they don't have the time or energy to explain crypto, it usually means they don't have the ability.

Oh, I agree.  But, I wouldn't limit it to Crypto.  That's pretty much the case with everything.  The only thing worse than a head nodder is multiple head nodders.

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12 hours ago, TheHeel said:

your friend is probably one of those old guard dorks who warned everyone off of crypto while others were making a windfall. he doesn't want it to win because it will further confirm his mistakes. 

Crypto will set the world free. If you think its just about BTC and other coins, you are missing the bigger picture, and no, i don't have the time or energy to explain it. 

Bummer, dude.  I also missed out on Beanie Babies.  I guess I'm just not a savvy investor.

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19 hours ago, dman115 said:

I can't believe anyone would invest in those phones that fit in your pocket and aren't attached to the wall.  I would never invest in a thing called a computer named after a fruit.  Or how about Internet...that will never take off.  Stupid electric cars...they are for hippies...

Change and different is bad.....

Agreed. The same people who said the internet is a fad back in 2000 are the same people saying Web 3/crypto/NFTs are a fad.  Give it some time. 

internet.png

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14 hours ago, VakAttack said:

I'm neither explicitly pro or anti crypto, but I will say any time the extremely wealthy people are telling me they're going to help me get rich, and they have this great investment, but they need my regular middle class person money....that's a red flag.

Calling yourself middle class Vak?  Aren't you a lawyer?

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8 hours ago, MagnetBack said:

Agreed. The same people who said the internet is a fad back in 2000 are the same people saying Web 3/crypto/NFTs are a fad.  Give it some time. 

internet.png

 

I can't not comment on this inane take. First, just because you found one article saying that the Internet is a fad in 2000 does not mean that it was a widespread prediction. By 2000, every newspaper had a Website, Amazon was a force. I don't recall anyone calling it a fad. It had obvious utility, which crypto does not. More important, even if this prediction had been widespread and turned out wrong, has absolutely no bearing on whether other predictions made 20 years later are right or wrong. This is obvious.

Also, the problem with crypto is that it's hawked as an "investment." Those who got in early may be OK. But those who followed the trend late are likely to get burned. In 2000, one could use the Internet or not. There was no requirement to invest. It was, of course, possible to invest in Internet companies. Many did; and a crash would come soon enough. But nothing about the crash reduced the popularity of using the Internet, which only grew.

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7 minutes ago, NJDan said:

 

I can't not comment on this inane take. First, just because you found one article saying that the Internet is a fad in 2000 does not mean that it was a widespread prediction. By 2000, every newspaper had a Website, Amazon was a force. I don't recall anyone calling it a fad. It had obvious utility, which crypto does not. More important, even if this prediction had been widespread and turned out wrong, has absolutely no bearing on whether other predictions made 20 years later are right or wrong. This is obvious.

Also, the problem with crypto is that it's hawked as an "investment." Those who got in early may be OK. But those who followed the trend late are likely to get burned. In 2000, one could use the Internet or not. There was no requirement to invest. It was, of course, possible to invest in Internet companies. Many did; and a crash would come soon enough. But nothing about the crash reduced the popularity of using the Internet, which only grew.

Don't get me wrong, I am no crypto promoter. I do not, and have never, owned any. But, it is an error to say crypto currency has no utility.

Before the current speculative craze, the case for crypto was that it was trustless and beyond government control. This matters for a few reasons. Trustless means we do not have to trust in a government to be a responsible steward of a currency. Being responsible means not printing money in irresponsible ways, thereby imposing an inflation tax. Anyone reading today's headlines can understand the utility of that. And beyond government control means that the a government, and its control over a dominant currency, cannot use the currency to impose its will over those it does not govern directly, as is playing out now with Russia.

And then there is Luna. I have nothing good to say about Luna.

But, to bring this back to wrestling to keep the mods happy..... Askren. Novogratz.

 

 

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1 hour ago, Wrestleknownothing said:

Don't get me wrong, I am no crypto promoter. I do not, and have never, owned any. But, it is an error to say crypto currency has no utility.

Before the current speculative craze, the case for crypto was that it was trustless and beyond government control. This matters for a few reasons. Trustless means we do not have to trust in a government to be a responsible steward of a currency. Being responsible means not printing money in irresponsible ways, thereby imposing an inflation tax. Anyone reading today's headlines can understand the utility of that. And beyond government control means that the a government, and its control over a dominant currency, cannot use the currency to impose its will over those it does not govern directly, as is playing out now with Russia.

And then there is Luna. I have nothing good to say about Luna.

But, to bring this back to wrestling to keep the mods happy..... Askren. Novogratz.

 

 

Is this a wrestling forum?  I always come here for investment advice.

Aw shid, I said no more jokes.  Sorry

Edited by BerniePragle
Obvious

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On 5/18/2022 at 3:52 PM, TheHeel said:

https://a16z.com/2021/06/24/crypto-fund-iii/ 2.2 billion fund for crypto

https://www.ft.com/content/6bf0ed56-1de5-4750-877f-c9cff753935c another 4.5 billion fund for crypto within 6 months of their last fund. 

Who should I trust? The top VC in the world or GreatWhiteNorth. 

Trust who?  In this case, don't trust TheHeel or the misleading links. The links posted don't provide any insight into why any law abiding individual would possibly want to invest in cryptocurrency.

Cryptocurrency continues to prove to be a terrible alternative to smart, viable investment options. 

The single attractive factor is that with crypto currency the criminal element can interact financially with a certain degree of anonymity.

To be fair, cryptocurrency is still in its infancy. It's not scary because its new, its scary because of the shysters that are trying to spin it into something it is not.

Edited by GreatWhiteNorth

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11 hours ago, VakAttack said:

Yeah, but I'm a public defender.  Government job.  Pay sucks, but I get good bennies and I can kind of make my own schedule.  Plus I  get to go to trial A LOT, which I love.

My father used to be a public defender. Oh the interesting assortment of clients he had and their crazy stories. I think the best was a guy who held up a pizza place then as he made his getaway shot himself in the leg and bled all over the lobby. Then later went to the hospital claiming he had been the victim of a drive by shooting....with an almost vertical entry point. Then when the police put two and two together they arrested him. When they matched his DNA to the crime scene he told them it wasn't him but it was his twin brother who had been a secret up until now. 

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7 hours ago, Wrestleknownothing said:

Don't get me wrong, I am no crypto promoter. I do not, and have never, owned any. But, it is an error to say crypto currency has no utility.

Before the current speculative craze, the case for crypto was that it was trustless and beyond government control. This matters for a few reasons. Trustless means we do not have to trust in a government to be a responsible steward of a currency. Being responsible means not printing money in irresponsible ways, thereby imposing an inflation tax. Anyone reading today's headlines can understand the utility of that. And beyond government control means that the a government, and its control over a dominant currency, cannot use the currency to impose its will over those it does not govern directly, as is playing out now with Russia.

And then there is Luna. I have nothing good to say about Luna.

But, to bring this back to wrestling to keep the mods happy..... Askren. Novogratz.

 

 

Novograts likes making money and getting attention. Crypto is an avenue for both. I doubt he lost much with the crash. The people who lose are the random people who think buying and holding it as an investment is smart. 

2 hours ago, TripNSweep said:

My father used to be a public defender. Oh the interesting assortment of clients he had and their crazy stories. I think the best was a guy who held up a pizza place then as he made his getaway shot himself in the leg and bled all over the lobby. Then later went to the hospital claiming he had been the victim of a drive by shooting....with an almost vertical entry point. Then when the police put two and two together they arrested him. When they matched his DNA to the crime scene he told them it wasn't him but it was his twin brother who had been a secret up until now. 

Did they catch the twin? 

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5 hours ago, Billyhoyle said:

 

Did they catch the twin? 

He is still at large.

But here is a funny story my father told me. We used to live in a small rural town that was basically a tourist trap on a major highway. His office was right next to the county attorney's office and one day he heard them celebrating over a case. They had busted some Colombian guy with like 500 lbs of blow in the trunk of his car. Maybe more but it was more than the sheriff had ever seen. The county attorney was celebrating because they thought they had this guy nailed. He had posted bail which was like 200k or something like that and was saying that he had to come back for it. My dad told him privately that they would never see that guy again. To the people he worked for that was basically pocket change and they kept their guy out of the hands of the authorities. Sure enough that guy disappeared and forfeited his bail. But that was probably just one of the dozens or more guys who made that drive with that stuff through our town. 

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8 hours ago, TripNSweep said:

My father used to be a public defender. Oh the interesting assortment of clients he had and their crazy stories. I think the best was a guy who held up a pizza place then as he made his getaway shot himself in the leg and bled all over the lobby. Then later went to the hospital claiming he had been the victim of a drive by shooting....with an almost vertical entry point. Then when the police put two and two together they arrested him. When they matched his DNA to the crime scene he told them it wasn't him but it was his twin brother who had been a secret up until now. 

How could he not have lost money (at last compared to what it had been worth) unless he sold most of it prior to the decline?

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5 minutes ago, 1032004 said:

How could he not have lost money (at last compared to what it had been worth) unless he sold most of it prior to the decline?

Bloomberg's Billionaire Index took him down from $8.5b to $2.5b post Luna. All I want is to be able to lose $6 billion.

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