Financial topics

Investments, gold, currencies, surviving after a financial meltdown
spottybrowncow
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Re: Financial topics

Post by spottybrowncow »

The biggest problem with bitcoin, and all cryptocurrencies, is that you need a network of computers to use it. It won't take much when SHTF, and then "bye, bye computers." Precious metals will continue to function as they have for millennia. Actually, maybe we're comparing apples and oranges. Cryptocurrency might make sense as an investment during this era when we still have computers, but precious metals, as the ultimate non-consumable physical asset (not food, water, ammo, tools, etc), are more insurance than investment.

aeden
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Re: Financial topics

Post by aeden »

https://www.marxist.com/images/stories/ ... ickson.jpg
Bad water, Bad wheat, Bad weather
Three days to adjust attitudes will not work either.
A couple sips of the Thames or Mississippi will end any aspirations of puters.

Cool Breeze
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Re: Financial topics

Post by Cool Breeze »

spottybrowncow wrote:
Sun Apr 30, 2023 10:05 pm
The biggest problem with bitcoin, and all cryptocurrencies, is that you need a network of computers to use it. It won't take much when SHTF, and then "bye, bye computers." Precious metals will continue to function as they have for millennia. Actually, maybe we're comparing apples and oranges. Cryptocurrency might make sense as an investment during this era when we still have computers, but precious metals, as the ultimate non-consumable physical asset (not food, water, ammo, tools, etc), are more insurance than investment.
This is the paradox of gold, though. When you need it, the world as you know it is already gone. So it's largely futile. We need computers for everything else spotty, not that that's a good thing, but the it's how the world is currently, and WITH repression. Why not employ computers so that there isn't monetary repression? PMs are indeed just that, insurance. I have no problem with them, and they have some utility, but BTC is better in every way. Period.

vincecate
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Re: Financial topics

Post by vincecate »

spottybrowncow wrote:
Sun Apr 30, 2023 10:05 pm
The biggest problem with bitcoin, and all cryptocurrencies, is that you need a network of computers to use it. It won't take much when SHTF, and then "bye, bye computers."
In February a ship broke the undersea fiber to Anguilla. I went to the next island over and bought a used Starlink. When SHTF I expect Starlink will keep working. I am more confident that I could send Bitcoin to people than that I could send wire transfers to them. We will still want to do international trade even if the dollar gets hyperinflation or some other SHTF. Not clear what else could work besides Bitcoin.

I currently give a 10% bonus to customers that pay for .ai domains using Bitcoin. This is partly so that I get more Bitcoin but also so that more of my customers learn how to use Bitcoin and so are prepared to pay in Bitcoin in case SHTF.

https://islandpressbox.com/telecoms-ser ... -anguilla/

Cool Breeze
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Re: Financial topics

Post by Cool Breeze »

vincecate wrote:
Mon May 01, 2023 6:07 pm
spottybrowncow wrote:
Sun Apr 30, 2023 10:05 pm
The biggest problem with bitcoin, and all cryptocurrencies, is that you need a network of computers to use it. It won't take much when SHTF, and then "bye, bye computers."
In February a ship broke the undersea fiber to Anguilla. I went to the next island over and bought a used Starlink. When SHTF I expect Starlink will keep working. I am more confident that I could send Bitcoin to people than that I could send wire transfers to them. We will still want to do international trade even if the dollar gets hyperinflation or some other SHTF. Not clear what else could work besides Bitcoin.

I currently give a 10% bonus to customers that pay for .ai domains using Bitcoin. This is partly so that I get more Bitcoin but also so that more of my customers learn how to use Bitcoin and so are prepared to pay in Bitcoin in case SHTF.

https://islandpressbox.com/telecoms-ser ... -anguilla/
Vinnie flippin' the script - atta boy.

spottybrowncow
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Re: Financial topics

Post by spottybrowncow »

vincecate wrote:
Mon May 01, 2023 6:07 pm
When SHTF I expect Starlink will keep working.
I earnestly, sincerely hope that you are right. But I don't think Russia and China are planning on leaving Starlink alone. I have no idea what it would take to disrupt the network, especially if tens of thousands of satellites are present, but I'll bet the aforementioned countries have a pretty good idea.

vincecate
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Location: Anguilla
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Re: Financial topics

Post by vincecate »

spottybrowncow wrote:
Mon May 01, 2023 8:23 pm
vincecate wrote:
Mon May 01, 2023 6:07 pm
When SHTF I expect Starlink will keep working.
I earnestly, sincerely hope that you are right. But I don't think Russia and China are planning on leaving Starlink alone. I have no idea what it would take to disrupt the network, especially if tens of thousands of satellites are present, but I'll bet the aforementioned countries have a pretty good idea.
China plans to put up their own starlink type network with 13,000 sats. There is this Kessler Syndrome fear that if you start blowing up a bunch of satellites there will be so many fragments that other sats would also be hit and break up, and those fragments cause others etc. This is well know. China would understand that if they did this their own sats would be in trouble as well.

https://www.scmp.com/news/china/article ... rchers-say
https://en.wikipedia.org/wiki/Kessler_syndrome

NoMansLand
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Joined: Mon Jul 11, 2022 10:46 am

Re: Financial topics

Post by NoMansLand »

vincecate wrote:
Mon May 01, 2023 8:37 pm
spottybrowncow wrote:
Mon May 01, 2023 8:23 pm
vincecate wrote:
Mon May 01, 2023 6:07 pm
When SHTF I expect Starlink will keep working.
I earnestly, sincerely hope that you are right. But I don't think Russia and China are planning on leaving Starlink alone. I have no idea what it would take to disrupt the network, especially if tens of thousands of satellites are present, but I'll bet the aforementioned countries have a pretty good idea.
China plans to put up their own starlink type network with 13,000 sats. There is this Kessler Syndrome fear that if you start blowing up a bunch of satellites there will be so many fragments that other sats would also be hit and break up, and those fragments cause others etc. This is well know. China would understand that if they did this their own sats would be in trouble as well.

https://www.scmp.com/news/china/article ... rchers-say
https://en.wikipedia.org/wiki/Kessler_syndrome
The most prominent "China in Space!" headlines I can remember from the past several years involve testing satellite killing missiles, and not caring where their space junk falls. I don't believe the people with that kind of knowledge are making decisions.

Cool Breeze
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Joined: Sun Jul 26, 2020 10:19 pm

Re: Financial topics

Post by Cool Breeze »

It'll be funny when the deflationistas talk about the price of non essential goods once the depression becomes more obvious to people. Meanwhile, all the meaningful components of the cost of living for average people (inflation, duh) continue to increase.

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Tom Mazanec
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Re: Financial topics

Post by Tom Mazanec »

Cool Breeze wrote:
Wed Apr 26, 2023 8:59 am
aeden wrote:
Tue Apr 25, 2023 2:27 pm
220,000 users have been infected worldwide and 800 devices are being infected every day.
Filers have no clue how to calculate their crypto capital gains on machines not even theirs.
See what we did there. Now you got two viruses to deal with.
thread: commodity exchange theory

It's quite basic.
Hey chatGPT, say something in actual english, please.
Actually chatGPT is a lot more coherent than aeden.
“Hard times create strong men. Strong men create good times. Good times create weak men. And, weak men create hard times.”

― G. Michael Hopf, Those Who Remain

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