Musicians Accepting Bitcoin

bassanddrum84

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I don’t know enough about it. Doesn’t it go up and down a lot? I like cash. I don’t even use a bank. I use a prepaid card through chime. I guess they’re a bank but I have control over my money.
 

HoorayGuy

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I have a buddy at work who made some money on Bitcoin. When I found out that he can, and did, transfer it to dollars, I thought, well, what's the big deal? However, I'd imagine King Dollar is not very happy about all this. Governments around the world will probably fight all this. Anyway, I'm thinking about buying some (maybe just $1000.00 worth) just to have fun with. I definitely would NOT invest more than I could handle if something went down. Yes, I know, the Stock Market is risky as well. I guess I'm just an old fart who's nervous about Bitcoin. Oh, also, I know someone who owns over a half million dollars of the original Bitcoin, but, he forgot his password. This was a few years ago, he still hasn't figured out the password. How frustrating is that? lol
 

JDA

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Oh, also, I know someone who owns over a half million dollars of the original Bitcoin, but, he forgot his password. This was a few years ago, he still hasn't figured out the password. How frustrating is that? lol
That...that crossed my mind Long ago when I swear it was $14
 

squidart

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This statement makes absolutely no sense whatsoever unless you really have no idea what Bitcoin is, or how it works.. Similar to a Dollar having smaller units such as the Penny, a Bitcoin is divisible as well. One Bitcoin can be divided into one hundred million units called Satoshis.

So, if I wanted to pay you $223,514.22, and Bitcoin is $55000, I'd send you 4.063894091 Bitcoin
I guess the plus side is not having to count out change for such a transaction! My head would explode.
 

Mayan

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The thing that makes me most skeptical about crypto currencies are the generational ownership and economy statistics. 94% of crypto is owned by millennials and younger, but they only control just under 5% of the economy. The boomers and silent generation control the majority of the economy, and won’t have much to lose when they decide how strictly to regulate crypto.
 

Matched Gripper

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I would watch warren Buffett here before
Really getting into the crypto game

Realize that taking it for payment or services is highly speculative and extremely risky

As an investment, it sounds like a pyramid scheme. It has no intrinsic value. As a medium of exchange, it seems extremely risky compared to dollars.
 

Whitten

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Watch the world change, or participate in it.
You didn't answer my point. The World IS changing and it is fossil fuel burning that is driving it. Either blockchain technology, NFT's and crypto currency mining contributes massively to climate change or it doesn't.
An insightful answer would be appreciated.
 

Mayan

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You didn't answer my point. The World IS changing and it is fossil fuel burning that is driving it. Either blockchain technology, NFT's and crypto currency mining contributes massively to climate change or it doesn't.
An insightful answer would be appreciated.

Well it seems that it does, if you do indeed trust the analysis from Cambridge U. I trust it. And I feel certain that when the US regulates it, there will be a large carbon tax added.
 

mydadisjr

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CRYPTO 101:

The only value that Crypto has is:

1) It took lots of energy to create it AND 2) you assume that if you buy it, you can sell it in the future for a profit.

IT HAS NO INTRINSIC VALUE. (I know, you are gonna say the dollar does not either because it is fiat currency, but US dollars are backed by the fed, by banks, by regulations etc, plus you can purchase any REAL goods/assets you want with dollars, assets such as houses, cars, drums, guitars, groceries).

Here is an analogy to Crypto...

Two guys come to your new property to dig holes for you.

First guy sez... "I will dig you a hole for $200 and see if I can find any silver, gold, or cool old artifacts". Sure enough, he finds a little silver, a little copper, a few arrowheads and some old coins. You take all that stuff (worth about $350) and you pay the guy $200. You have assets.

Second guy sez... " I will dig you a really nice large hole, I will then fill it back in. It will take lots of energy and when I am done you pay me $200 and I will give you a nice certificate stating that I did all that work and expended all that energy and then maybe your neighbor will buy your $200 certificate for $250".

You pay the man his $200, and then you sit around and hope you can sell the proof of his labor for more than $200. You have no assets (except a piece of paper).
 

Rotarded

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I'm done talking. Believe what you want to believe. This so called "ponzi" has been under public scrutiny for over a decade, yet it is growing at a faster rate than the advent of the internet. Go figure?

This is far to complex to understand in a few hours, or days even, but understand those who are fighting it, or waging propaganda wars against it, don't understand it fully either. They are simply threatened by it i.e. Central Banks and Governments. The largest corruptible organizations on the planet.

I will however, be the one who admits defeat if it fails to change the world. Conversely, I will also be the one saying I told you so.

I have made my retirement from it. I leave tomorrow for a Carribean island for a month, and then after Christmas begin a 6+ month journey to find investment properties outside this Country in shambles, from an 80 foot yacht.

Hasta luego my fellow drum enthusiasts!
 
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JDA

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Bitcoin uses too much electricity? Yet we're being gently (and not so gently) pushed into electric cars buses and trucks..
how's that figure. how's that square..
 

Tornado

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Bitcoin uses too much electricity? Yet we're being gently (and not so gently) pushed into electric cars buses and trucks..
how's that figure. how's that square..
The difference, the argument goes, is that electric vehicles are actually doing something useful and the electricity they use is offsetting the use of petroleum. Whereas Bitcoin is a big consumer of electricity that offsets nothing and produces nothing.
 
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