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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.

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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.

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  • Demonland changed the title to Welcome to Demonland - Coinjar
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 ?

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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.

 

 

 

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Posted (edited)
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 by John Crow Batty
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Posted (edited)

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 by AllMyTeamsAreWank
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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

 

CF6F5B01-AA79-4DB2-9B57-CE884C40302A.jpeg

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

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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

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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

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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. 

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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. 

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