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Merged Bitcoin - Part 3

Gulliver Foyle said:
Bitcoin's apparent conversion to dollars is very volatile, the numbers of transactions are too low to give a definitive valuation, but because there's allegedly only ever going to be 21 million* of them it should be severley deflationary over time. However because the denominations can be chopped and changed, also on a whim, it's very hard to predict whether the deflationary effect will ever kick in.

*I say allgedly because whoever has master access to the baseline code can change this on a whim.
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Everything in this post is either gibberish or 100% wrong.
 
Looks like Trump is trying to give Crypto the Government Seal of Approval, the only way it will ever be more than a pure grift.
Of course, this is the worst of both worlds: the scammers hate that their tool might get a bit of regulation, and the taxpayers will have to shell out for the dump&pump Trump is going to run from the Oval Office.
 
This is a massive pump and dump scheme; Trump knows American citizens make excellent marks. Better off safely putting your money in tulips.
 
Hackers thought to be working for the North Korean regime have successfully converted at least $300m of their record-breaking $1.5bn crypto heist to unrecoverable funds.
 
i’d like to know if it’s crypto exchanges that have no problem taking stolen crypto and converting it over to currency and collecting a fee, or some other method.
 
Reputable exchanges block flagged wallets. Transferring the coins to other wallets won't help, as the history of every penny is known and public.
Obviously exchanges are the main victims, so they are also keen to fight against thefts in any way.
Some smaller exchanges fail to do the checks, but it's really risky business for the exchange, as the flagged coins are flagged forever, and the exchange may have troubles getting rid of them.
 
psionl0 said:
I hope you are not trying to pick up where @Chanakya left off.

Yes gold has some limited ornamental/industrial uses.
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We've been here before, so I think I can classify this as a lie. At best the use of the word "limited" is disingenuous.

Uses of Gold in Industry, Medicine, Computers, Electronics, Jewelry

Gold is the world's most useful metal. Explore the many uses of gold in industry, medicine, computers, electronics, jewelry, dentistry, coins, space, art and more.
geology.com

the primary uses of gold during 2022. They were: jewelry manufacturing (47%); bullion (gold bars and ingots) (37%); production of gold coins and medals (9%); and other (1%). Data from the USGS Mineral Commodity Summaries, January 2023.
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jeremyp said:
We've been here before
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So what do you hope to achieve by regurgitating this again?

jeremyp said:
the primary uses of gold during 2022. They were: jewelry manufacturing (47%); bullion (gold bars and ingots) (37%); production of gold coins and medals (9%); and other (1%). Data from the USGS Mineral Commodity Summaries, January 2023.
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OK so nearly half the gold is used in jewelry (I wasn't aware of that) and this is the reason you call "limited" a lie. What does this prove? That gold is valuable because it is used in jewelry?
 
how's that? a jeweller can take a piece of gold at the cost of the weight of gold, turn it into jewellery, and the finished product is worth more than it's weight in gold.

you can't really do that to a bitcoin though.
 
dirtywick said:
how's that? a jeweller can take a piece of gold at the cost of the weight of gold, turn it into jewellery, and the finished product is worth more than it's weight in gold.
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Any number of materials can be made into jewelry. The value of the jewels so made depends on the value of the material used. Your argument simply completes the circle.

dirtywick said:
you can't really do that to a bitcoin though.
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It's gold's application as a currency that gives it the bulk of its value.
 
psionl0 said:
Any number of materials can be made into jewelry. The value of the jewels so made depends on the value of the material used. Your argument simply completes the circle.
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no jewels, pure gold. same amount, add some labor, same amount of gold but more value.

in any case, other materials can be made into jewelry or any other number of objects can be made into more valuable things through labor. but not crypto.


psionl0 said:
It's gold's application as a currency that gives it the bulk of its value.
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nobody uses gold as currency
 
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