- Joined
- May 6, 2020
BTC has a completely public ledger as opposed to untraceable cash transactions. Now why would world banks and governments want that?
Current issues with the market - Any ideas on avoiding the end?
- Thread starter mindlessobserver
- Start date
- Joined
- Feb 3, 2013
It's public but you still don't know who it's going to. Wallets are anonymous. It's also untraceable which makes it easier to con people. Way easier to scam people in bitcoin transactions.
Why should I buy something online with bitcoin rather than a credit card? What benefit would it have over it?
- Joined
- May 6, 2020
Unless you know what you're doing, your BTC transactions are pretty much public. Don't try to run from the tax man, HHH.
Regarding transactions, I'd rather send an exact amount of BTC to a buyer than give my credit card number, expiry date, and verification number to some random website. Does not even compare.
- Joined
- Feb 3, 2013
No they're not lol.
You don't mind if the website scams you and you have no repercussions? If your credit card is stolen, you get reimbursed from the credit card company and lose nothing.
- Joined
- May 6, 2020
If you lose your wallet full of $20s, who's gonna reimburse you? Credit cards aren't real money, this is about cash vs. BTC.
- Joined
- Feb 3, 2013
It is for internet transactions.
There's no benefit of BTC over cash. Bitcoin could go up, or it could go back down. Nothing says "currency" like losing half its value in a month
- Joined
- May 6, 2020
Now with crypto you can do secure internet transactions without having to call your credit card company every two weeks when your card gets compromised.
Regarding your currency losing half its value in a month, read this, you brainlet:
What Is Hyperinflation?
Hyperinflation is a term to describe rapid, excessive, and out-of-control general price increases in an economy. While inflation is a measure of the pace of rising prices for goods and services, hyperinflation is rapidly rising inflation, typically measuring more than 50% per month.
- Joined
- Feb 3, 2013
No you can't. If you get screwed, you lose out on it. If I get screwed, my cc company reimburses me.
Hyperinflation is so unlikely that it's laughable, despite what prepper right-wing tards say. That is the only thing bitcoin has over regular currency.
RuneWarrior
kiwifarms.net
- Joined
- Apr 24, 2021
Just Some Other Guy
kiwifarms.net
- Joined
- Mar 25, 2018
Ain't that the truth. Me and my wife bought a house from family that was built in the 40's. Sure, the kitchen crawled out of the 60's, but man is the place built like a tank. 1.5" thick plaster walls, an 8" thick bonding board that I had the 'pleasure' of cutting a hole in for a dryer vent, and a thick poured basement wall. They don't make em like that anymore.
Funny thing is, all these decades old appliances are still truckin' too. Chances of a modern refrigerator running for 30+ years?
- Joined
- Jul 15, 2016
That because electromechanical switches don't wear out in 10 years it's more like 30.
What sucks is you basically have a shitty little ic board that takes a shit and the oem charges 100s for it.
- Joined
- Jul 18, 2017
The house I am trying to close on was built in 1950 with the interior renovated in the 2010's. Fingers crossed its of similar "built to last" construction from that era.
This is definitely important, but I'm a retard who doesn't understand economics. Can someone tell me what the fuck this means? Is the dreaded everything bubble about to pop?
Jarolleon
kiwifarms.net
- Joined
- Mar 23, 2019
I guess it ultimately depends on whether we keep up the mass immigration. If so property will continue to be in demand, and if not the boomers dying off will turn property into a buyer's market.
I also suspect the real reason we're not having inflation is because everyone's been forced to save money because everything expensive has been shut down by the Coof. So the price of consumer goods doesn't go up because most of the money in the economy is sequestered, and people who were laid off from the shut down industries are getting jobs in the remaining ones, driving down prices in the latter.
- Joined
- Jul 18, 2017
Remember, the interest rate on fiat bonds is the braking mechanism the Federal Reserve uses to destroy excess money and control inflation. If the Government is issuing debt at 0 interest, then nobody BUT the federal reserve can buy it. Even if you believe the current inflation rate of the dollar, if you, joe blow, were to buy a government bond you will get to see your money happily burn as it loses value every second. By contrast, the Federal Reserve can make the money printer go BRRRRRRT and buy those bonds at 0% interest. But after that, the money is loose in the wild and there is no way to get it back.
On that note, my working plan is to secure property with a fixed rate mortgage. Hold on to several Ethereum tokens, but beyond that go full prepper if I am given the fucking time to do it. Will want to get some solar panels, not to power the house. Just the well and some additional electronics. After that hard commodities. Some Gold and Silver to pay property taxes (because those never go away) and cigarettes/hard liquor as barter commodities for every day stuff. Both will always be in demand and have a very long shelf life. Plus plenty of canned food.
I just need this crazy train to last another year. And if for some reason I am a complete spaz, well, my water and septic system will keep working even if I lose power for an extended period of time, and I actually like canned beans and corn. And booze.
- Joined
- Jul 7, 2020
With all this talk about out of this world real estate, what do you guys think about saving up my money (ie not throwing it into my brokerage) and buying a second property when the housing market inevitably takes a shit? I'm thinking another 2-3 years but impossible to know for sure.
Right now I'm still structured at 75% stocks and long term, and 25% crypto and precious metals. Pretty good stock of other commodities as well in case shit is worse than we expect. But thinking about easing up on my taxable brokerage and throwing all of that towards rural property. Life in a suburb now and not so sure it will remain a quiet peasantry forever.
Right now I'm still structured at 75% stocks and long term, and 25% crypto and precious metals. Pretty good stock of other commodities as well in case shit is worse than we expect. But thinking about easing up on my taxable brokerage and throwing all of that towards rural property. Life in a suburb now and not so sure it will remain a quiet peasantry forever.
- Joined
- Jul 18, 2017
Saving your money implies we dont catch an inflationary spiral. Even something like what happened in the 1970s could hurt cash saving bad.
- Joined
- Jul 7, 2020
Sure, but to throw it all in investments that at least maintain inflation is risky business if I'm making a purchase only 2-3 years out.
- Joined
- Feb 3, 2013
Do you plan to rent out the real estate? If so, look into it pretty hard. I was going to do it but after looking into it I heard a lot of horror stories about awful tenants and people who were unable to find tenants. You can do real well and you'll at least have the property, but you can also end up getting stuck with a second mortgage and a lot of repair bills. I would say waiting a few years would definitely be smart if you plan to do it since lumber has caused the price of houses to skyrocket and it'll give you time to research it. Once lumber goes back down the prices will go back down. Apparently a lot of lumber mills shut down early in covid, expecting demand to go down, but it went up since people wanted to start working on houses and projects so there's a shortage
I am boring and just invest in stocks, mostly via index funds
- Joined
- Jul 7, 2020
I'm an index-cel myself frankly a Boglehead if anything.
Ideally I'd just save up for the purchase and ween back on my taxable accounts, but the problem is finding an investment vehicle that will, at a bare minimum, keep up with inflation and won't pose much risk.
The way things are right now certai KY don't help either. We are pretty bullish so best bet would probably be to continue with the account, but if there's a correction soon (and there will be), I'm fuqed.