Welcome to General Chat - GAW Community Area
This General Chat area started off as a place for people to talk about things that are off topic, however it has quickly evolved into a community and has become an integral part of the GAW experience for many of us.
Based on its evolving needs and plenty of user feedback, we are trying to bring some order and institute some rules. Please make sure you read these rules and participate in the spirit of this community.
Rules for General Chat
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Be respectful to each other. This is of utmost importance, and comments may be removed if deemed not respectful.
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Avoid long drawn out arguments. This should be a place to relax, not to waste your time needlessly.
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Personal anecdotes, puzzles, cute pics/clips - everything welcome
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Please do not spam at the top level. If you have a lot to post each day, try and post them all together in one top level comment
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Try keep things light. If you are bringing in deep stuff, try not to go overboard.
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Things that are clearly on-topic for this board should be posted as a separate post and not here (except if you are new and still getting the feel of this place)
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If you find people violating these rules, deport them rather than start a argument here.
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Feel free to give feedback as these rules are expected to keep evolving
In short, imagine this thread to be a local community hall where we all gather and chat daily. Please be respectful to others in the same way
look up utility coins and what they do like stellar, xrp, algorand, and what contracts foreign countries recently sign with and you'll see the future of how money will be moved.. invest in those.
World currency can never become bitcoin. Its just not technically suitable for that.
But I am sure there will be a better implemented crypto that would be suitable for a world currency, or rather national currencies.
(The idea of world currency is scary. It will make it hard for each country to manager their own currency supply. It will have the same pitfalls as the current Cabal systemm)
Zero. It's going to drop to $0 when everyone finds out Putin is behind it and the mysterious Japanese guy was a fabricated fantasy.
Bitcoin is worth nothing. It's backed by literally nothing. Even if it was $1M each, it's worthless if the power goes out. It's no different than paper currency, where your belief that it's worth something is the only thing giving it value.
this comment is on the money
I can acknowledge we should be using blockchain for security and encryption
But it is not the solution for currency. And if you are religious, remember the new Kingdom will not run on currency in exchange for goods and services
and if the power doesn't go out? let's discuss what 'patriots in control' means. also, do you trust the federal reserve more than you trust putin?
I'm a patriot... and hopefully you are too. "In control" to me means, personal responsibility and not waiting for someone from this dimension or otherwise to "save me". It means using what God gave me between my ears and investing in physical precious metals, livestock, skills, tools and land, that are completely under my control and no one else's. Power not required. Recognized everywhere around the world as being worth something...
I get different strokes for different folks, and don't condemn anyone that is invested in aether/BTC. You're free to do what you want... but the fact remains, it isn't backed by anything... and explaining through mental gymnastics that it goes through calculations etc and was created by some unknown Japanese dude, doesn't change the fact that A) it isn't skilled labor and B) It didn't come out of the ground - the only two things worth anything when you break it all down.
Anyone could trade PM for BTC, and for now, you can trade BTC for PM. I don't hold more than $1k worth of crypto for a number of reasons and have it just in case. No different than the $1k in £ or € I have laying around. When the entire history and premise of BTC is a complete fabrication, timeless wisdom says, "Don't be fooled" & "There's no free lunch" & "If it seems to good to be true, it is..." I'll all shake out eventually and BTC will be worth nothing. If for no other reason, it's severely limited in the number of potential coins and there will come a day soon when it's simply game over. Anyone holding BTC should know this about the technology and wake up before it's too late. Think musical chairs...
Maybe that's "old fashioned", but that's okay with me...so is my diet, avoiding things my great grandparents wouldn't have eaten. Same with savings and investing...the "old ways" are proving to be the best ways a lot lately. My question is, why would anyone need more than a little bit of crypto, when they're gushing in other valuable tangibles that could easily be converted to crypto?
no need to explain any of that, really. i don't disagree, except... I do believe the drops, so there's no need to prepare for the mad max scenario. and it seems you may have a couple key misunderstandings about the technology. it doesn't require electricity to store or exchange. the difference between crypto and fiat is that more can't simply be printed when someone deems there isn't enough. it is therefore much more resistant to corruption, and the 'limit in number of potential coins' you mention is exactly the reason the value continues to increase.
it's not meant to replace valuable goods and services, it is a medium of exchange. but this medium is based on information and decentralization, rather than whether some paper notes look like they were printed by an official source.
and if you kept money in the bank in the last 30 years, they were just storing it as an integer backed up by their word.
you heard of the recent story where google cloud erased millions in pensions? that couldn't have happened if it was stored as crypto. so there is absolutely an appropriate use for the technology. and again, because of the scarcity and the volatile price, one of those uses is investment.