Bitcoin....who's gotten into it?

[byates1]

37$

[byates1]

The fed can print an unlimited amount of money so it's essentially free.

[CarlMega]

We're off in la-la land now. Why exactly would one want to expend astronomical energy to flood and crush the gold market again?

It'd be far more likely that quantum computing renders bitcoin cryptology ineffective. That one is on an organic trajectory.

[up an down]

We're off in la-la land now. Why exactly would one want to expend astronomical energy to flood and crush the gold market again?

It'd be far more likely that quantum computing renders bitcoin cryptology ineffective. That one is on an organic trajectory.

You FUDers just can't stop bursting their magical thinking bubb!es

[NakedShorts]

In an actual war the first thing that should be expected to be impacted is the POWER GRID. I will stick to heavy shinny shit.

[abraham]

You guys have any visibility on the energy costs required to move gold asteroids?

That's what nfts are for. You don't actually have to move the metal.

[byates1]

I've got some paper asteroid for sale if anyone is interested

[byates1]

Sounds like if BTC breaks 20 and eth 1k, they are going lower.

[hatchgreenchile]

Considering the uses of gold in PCB manufacturing (ENiG, ENEPEG, gold tips), and how PCBs are used across damn near every industry, that asteroid will come in handy.

BTC is still searching for that elusive utility, besides speculation!

[byates1]

I think gold in manufacturing is single digit percentage. It mainly does nothing. It sits in a vault somewhere and it's valuable because we say it is.

It's literally a rock in the ground. It's as absurd as BTC.

Beauty is in the eye of the beholder.

[shera]

kek

[Cono Este]

He needs to have an actual chunk of his portfolio bouncing around in his pocket when he travels.

If the ex wife finds your iPhone your screwed. No thanks.


Sent from my iPhone using TGR Forums

[shera]

Oh yeah, the quantum computing thing - it's gonna break a whole lot of security, not just bitcoin. But it's code, it can be updated.

[shera]

See you guys think the worst thing that can happen to you is a divorce. There are a lot of people in the world with worse risks, don't you think? Well maybe divorce is the worst...

[mcphee]

The asteroid belt is just a skip away from the planet SpaceX was supposed to colonize by now and gold isn’t that useful in electronics. Groundbreaking. The brain trust continues to convince me. I’ll take 11!

[jono]

The asteroid might be handy for lots of things. I don't want to dismiss it as impossible or anything, for all I know there's a plan to capture a rock with minor slingshots and use it as a counterweight for a Mars space elevator and/or mine it in situ and fling the valuable parts out on a trajectory that makes them easy to bring into Earth orbit. It's not entirely rhetorical, there may be an energy estimate.

Or maybe there isn't. In which case no one is working on it and it's entirely dismissable. But if they're out there I bet they're interesting.

Even hypothetically, maybe it's a good analogy: say the price range for any commodity is bounded by whatever the second greatest fool is willing to pay (max) and the minimum cost of production and/or maintenance. The latter is probably what sends most creations from cars to paper and digital currency off to scrap at some point. But in the meantime knowing that range seems useful.

[CarlMega]

BTC is still searching for that elusive utility, besides speculation!

Heh. True, an excess of precious materials would not only satisfy existing needs but also lend themselves to new uses that are currently cost prohibitive. Before extraction and refinement processes were effective, aluminum was precious despite being abundant. Now we toss it in the bin when we're done chugging Daft beer.

The main thrust of the Crypto/bitcoin debate here is how much weight and credence is given to: scarcity & utility.

All sorts of meandering arguments sans context putting weight on decentralization and scarcity while bouncing between currency and asset roles without the burden of demonstrable utility.

I accept the trading and speculation - gamblers, gamble. It is what it is. The utility discussion is interesting.

It's funny the impracticalness of gold keeps coming up, because from my view, Bitcoin's inherent strategy is the digital equivalent of shuffling crates of gold around just to verify and commit a trans/block. It is work-heavy and it only gets heavier. With an infrastructure that requires replacement due to functional obsolescence every few years. Energy eater go Nom Nom Nom.

[neckdeep]

And I thought he was just being dirty.

So I'll tell you guys the thing that really tipped the scales for me with bitcoin, got me convinced, so you can trash me for it. Anyway, it was gold, trying to understand why so many people around the world put so much faith in it, even though it had poor performance. The whole concept of the scarcity, but I learned a long time ago that one rock on the asteroid belt has more gold than Ft Knox. And the asteroid belt is just a short skip away from Mars and with Elon on a mission, we are probably one generation away from getting a gold rock the size of the Empire State building. Gold value will be kaput.
?

Right, even in this farfetched scenario, you have to go to the asteroid belt, for fucks sake! Meanwhile, you're trying to mine imaginary gold in your goddamn house. With bitcoin the gold comes to you! What the fuck don't you understand?!!!! With Bitcoin, you get to fucking choose the safest, lowest cost place to mine your imaginary gold and its always 100% pure ore. Real gold ain't like that.

[dunfree]

I think gold in manufacturing is single digit percentage. It mainly does nothing. It sits in a vault somewhere and it's valuable because we say it is.

It's literally a rock in the ground. It's as absurd as BTC

about half of global demand for Gold last year was for use in jewelry. Gold’s got some useful properties for such applications

[hatchgreenchile]

I think gold in manufacturing is single digit percentage. It mainly does nothing. It sits in a vault somewhere and it's valuable because we say it is.

It's literally a rock in the ground. It's as absurd as BTC.

Beauty is in the eye of the beholder.

It’s not beauty , it’s utility. Gold, and other rare earth metals; have very clear uses for the past , present and future .

Crypto is a solution that is still searching for the problem

[neckdeep]

I think gold in manufacturing is single digit percentage. It mainly does nothing. It sits in a vault somewhere and it's valuable because we say it is.

It's literally a rock in the ground. It's as absurd as BTC.

Beauty is in the eye of the beholder.

Yes it is, which is why for millennia, humans of many cultures have adorned themselves with gold to convey status, power and desirability. The symbolic value is its utilitarian function, you fucking morons. That's a track record that goes back about 6,000 years farther than your imaginary nerd gold.

[Timberridge]

And there's the cool factor when you consider the only way it can be produced is in a supernova. A mythical beast compared to the microprocessor.

[jono]

Not as much gold in microprocessors as there used to be, I guess. Maybe we'll replace gold and fossil fuels at the same time. Wouldn't it be a shame if just when we replaced all the dirty, polluting substances and convinced everyone not to poison humanity they all decided money was obsolete, too?

[stalefish3169]

And I thought he was just being dirty.

So I'll tell you guys the thing that really tipped the scales for me with bitcoin, got me convinced, so you can trash me for it. Anyway, it was gold, trying to understand why so many people around the world put so much faith in it, even though it had poor performance. The whole concept of the scarcity, but I learned a long time ago that one rock on the asteroid belt has more gold than Ft Knox. And the asteroid belt is just a short skip away from Mars and with Elon on a mission, we are probably one generation away from getting a gold rock the size of the Empire State building. Gold value will be kaput.

I do consider being an early adopter of bitcoin a big advantage, I guess there are diminishing returns. You can call it a ponzi, whatever.

What I'm trying to figure out now is if the advent of the derivative market is going to wreck bitcoin returns going forward. Is that what's happened to gold?

The mother lode is a whole lot closer than outer space.

https://twitter.com/adam3us/status/1...283436544?s=20

[Dantheman]

The mother lode is a whole lot closer than outer space.

https://twitter.com/adam3us/status/1...283436544?s=20

Oh FFS, it's 31 million tons of ore. Assuming a typical concentration of 1 oz/ton that's about 900 metric tons of gold total, which is about 1/3 of annual global production and worth about $50 billion at current prices. It's a noteworthy deposit but absolutely will not disrupt the gold market in any significant way.