1 hour ago, Diamond_Jim said:

it's no more dodgy than gold if you think about it

A metal with no real value other than scarcity

No value at all except you can fashion it into rings & other pretty things which the other people in your village are prepared to buy off you in exchange for chickens, cows, sheep's wool, buckets of milk, axes,  ploughs, etc.

In my village I tried this with bitcoin but only got offered a few old tulip bulbs in return.

1 minute ago, Mazer Rackham said:

No value at all except you can fashion it into rings & other pretty things which the other people in your village are prepared to buy off you in exchange for chickens, cows, sheep's wool, buckets of milk, axes,  ploughs, etc.

In my village I tried this with bitcoin but only got offered a few old tulip bulbs in return.

Have a read of David Graeber's DEBT. It blows the lid off barter and gold as a medium of exchange.

Precious metals are just like crypto and unlike state money. Tax liabilities drive the value of state money. Nothing else can compete. But at least PMs have a history of people believing in their worth in times on instability.

I just wish they were called coinpurse.

2 minutes ago, The heart beats true said:

I just wish they were called coinpurse.

To match your fabulous coinscarf?

1 hour ago, david_neitz_is_my_dad said:

I have a feeling the demographics of the MFC membership heavily favours those in the age group that wouldn’t know nor care what cryptocurrency is.

Yeah but their financial advisors will ?

13 minutes ago, A F said:

Have a read of David Graeber's DEBT. It blows the lid off barter and gold as a medium of exchange.

Thanks mate I've added it to my "to read" list on Goodreads.
I watched a doco called "The Money Masters" a while ago which seems to have had a similar premise.

 

 

 

Can I "like" the change of title?

https://www.macrobusiness.com.au/2021/05/disastrous-four-headed-hydra-pattern-devours-bitcoin/

The enviro effects should confer a penalty - horrible.

 

36 minutes ago, A F said:

Have a read of David Graeber's DEBT. It blows the lid off barter and gold as a medium of exchange.

Precious metals are just like crypto and unlike state money. Tax liabilities drive the value of state money. Nothing else can compete. But at least PMs have a history of people believing in their worth in times on instability.

Precious metals have held their value for thousands of years, crypto has been around one decade.In countries where fiat currency has been reduced to the value of toilet paper due to wars, mismanagement and other catastrophes gold and silver are still king. We are lucky Australia hasn’t been one of them. But who knows what the future holds.

Edited May 19, 20214 yr by John Crow Batty

Can we exchange some Silver(ware) for Crypto? ?

People saying crypto has no future here probably said the same thing about the internet in the 90s. ? 

You only need to take a look at the thousands of use cases for ethereum and smart contracts. 

Edited May 19, 20214 yr by AllMyTeamsAreWank

1 hour ago, Mazer Rackham said:

To match your fabulous coinscarf?

https://www.google.com.au/amp/s/www.urbandictionary.com/define.php%3fterm=coin%2bpurse&amp=true

Not an auspicious time to make the public announcement for the crypto fans!

Hopefully a very different trajectory than the Deeeeezzz

 

There is probably a good reason other clubs have not signed up to coinjar or the like. Not sure it is such a coup. Some supporters will see it as re-entering gambling

Petracca’s new contract ?

 Does this sit outside the salary cap?

 

Gold is not the way to go, buy some Silver people.

34 minutes ago, Kiss of Death said:

Not an auspicious time to make the public announcement for the crypto fans!

Hopefully a very different trajectory than the Deeeeezzz

 

It’s like buying a slab of beer for $50 today,  $80 next week and $15 the week after. 

1 hour ago, AllMyTeamsAreWank said:

People saying crypto has no future here probably said the same thing about the internet in the 90s. ? 

You only need to take a look at the thousands of use cases for ethereum and smart contracts. 

crypto must be good..........cos it's digital

Looks like I might have to move my portfolio from Swyftx to coin jar 

Meanwhile, Elon has just walked away from it and some ethical investors are beginning to divest. 

5 hours ago, david_neitz_is_my_dad said:

I have a feeling the demographics of the MFC membership heavily favours those in the age group that wouldn’t know nor care what cryptocurrency is.

You are right but I am trying to learn about cryptocurrencies

3 hours ago, AllMyTeamsAreWank said:

People saying crypto has no future here probably said the same thing about the internet in the 90s. ? 

You only need to take a look at the thousands of use cases for ethereum and smart contracts. 

Agreed, but it’s def a tough fight in here isn’t it. lol. let’s return to this subject in the future. 

Try finding the right coin to jump on.

Had a look in 2018 and jumped on a couple of training stocks but luck of the draw really.

No doubt a life changer if you jump on the right coin though.

5 hours ago, Wells 11 said:

Crypto offerings are  happening through traditional banks in the USA now. JP Morgan, Grey Scale Trust etc . Its also on the books in billion dollar ways of major corporations ie Micro strategy, Tesla and many others. No need to confine it to a a demographic...its coming soon to a town near you ;-) 

Using U.S banks as a measure of trust and assurance is hardly a source of comfort.