Cryptocurrencies

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hurleyjd

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I do not understand these but did read that some banks are going to create theirs to facilitate trades. Someone explain to me what this is all about and who keeps up with who owns what. Is the value of these created out of thin air. What would my calves be worth in bitcoin and who pays me for them. Can I sell them a pretend calve for a pretend bitcoin.
 
A long but interesting article on the subject.

https://www.zerohedge.com/news/2019-05-25/drop-gold-myths-naturalist-exposition-golds-manifest-superiority-bitcoin-money
 
You can sell your cows with bitcoin yes. If they are accepting it or vis versa its all up for grabs. Interestingly my husband is a bitcoin miner. Meaning he has a bunch of super computer in our house taking up a lot of space and power putting out a lot of heat where he essentially makes these cryptocurrencies. Its a very long explanation of how it works and even though it pays our bills I don't really understand it.

My husband owns another business where he actually accepts bitcoin as payment online. He's also involved with medical marijuana. Cryptocurrencies and industries like medical marijuana go hand in hand.

I'm a girl with a cow hoarding problem that married a man that's allergic to cows, has no farm skills and is involved in cryptocurrencies. Its an interesting life
 
The Oracle of Omaha Warren Buffett says crypto currencies are a pyramid scheme and a scam.
Actually, what he said was that it was a "delusion that attracts charlatans..probably rat poison squared". One of Berkshire's top guys weighed in on bit coin and said "Someone is trading turds."

I tend to agree.
 
But, and I'm too old and too uncaring to really understand it, the dollar bill is nothing more than a piece of paper.
Nothing but blue sky backs it up either. One could easily say. "I want bitcoins for your calves, i don't accept dollars anymore."
Because he only buys where bitcoins are used. GS
 
greybeard said:
The Oracle of Omaha Warren Buffett says crypto currencies are a pyramid scheme and a scam.
Actually, what he said was that it was a "delusion that attracts charlatans..probably rat poison squared". One of Berkshire's top guys weighed in on bit coin and said "Someone is trading turds."
Click to expand...

Memorable quote, and obviously there has been a lot of speculation in the recent past.
But is turd trading only crypto currency, or do you have to include paper currency?
 
plumber_greg said:
But, and I'm too old and too uncaring to really understand it, the dollar bill is nothing more than a piece of paper.
Nothing but blue sky backs it up either. One could easily say. "I want bitcoins for your calves, i don't accept dollars anymore."
Because he only buys where bitcoins are used. GS
Click to expand...
Dollar bills are worthless send me yours.
 
greybeard said:
The Oracle of Omaha Warren Buffett says crypto currencies are a pyramid scheme and a scam.
Actually, what he said was that it was a "delusion that attracts charlatans..probably rat poison squared". One of Berkshire's top guys weighed in on bit coin and said "Someone is trading turds."

I tend to agree.
Click to expand...

And then people made millions and millions on cryptocurrencies. So much that to buy a rig to mine currency a year ago was impossible. We started mining and within 4 months had made over $50,000. I've never done that with cows.
 
greybeard said:
Made 50,000 what?
You didn't make it in dollars.
Click to expand...

It's actually really simple to convert most cryptocurrency into cold hard cash. You sell it to a firm and they mail you cash. Literally an envelope of cash. Once one was lost, $10,000, and they just dropped off a new envelope of cash...

In Canada its also tax free
 
cowgal604 said:
greybeard said:
The Oracle of Omaha Warren Buffett says crypto currencies are a pyramid scheme and a scam.
Actually, what he said was that it was a "delusion that attracts charlatans..probably rat poison squared". One of Berkshire's top guys weighed in on bit coin and said "Someone is trading turds."

I tend to agree.
Click to expand...

And then people made millions and millions on cryptocurrencies. So much that to buy a rig to mine currency a year ago was impossible. We started mining and within 4 months had made over $50,000. I've never done that with cows.
Click to expand...

So you're the one that made it impossible for me to get a GTX1080 for my PC. I hope you enjoy it.
 
I have a problem with an industry where they all claim they will be worth multiples of their current trading "value" and will be only one of a few "currencies" that will survive.

I might be missing the boat, but it's a boat ride I willing to miss at the moment until I understand it more.

I'll gamble on hard assets like land and the fact that people keep mining more people and no one is really creating more land (except in the south china sea or negative feet within sea walls.)
 
sim.-ang.king said:
cowgal604 said:
greybeard said:
The Oracle of Omaha Warren Buffett says crypto currencies are a pyramid scheme and a scam.
Actually, what he said was that it was a "delusion that attracts charlatans..probably rat poison squared". One of Berkshire's top guys weighed in on bit coin and said "Someone is trading turds."

I tend to agree.
Click to expand...

And then people made millions and millions on cryptocurrencies. So much that to buy a rig to mine currency a year ago was impossible. We started mining and within 4 months had made over $50,000. I've never done that with cows.
Click to expand...

So you're the one that made it impossible for me to get a GTX1080 for my PC. I hope you enjoy it.
Click to expand...

:lol: I love your comment haha. Me and every other 18 years old boy that was building mining rigs haha.
 
https://www.reuters.com/article/us-usa-crime-longfin/u-s-charges-ex-ceo-of-cryptocurrency-company-longfin-with-66-million-fraud-idUSKCN1T62J8?il=0
 

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