Cryptocurrency as the next significant stage for computing technology, not just an investment

[dingformung]

2 minutes ago, zero said:

so how do you make money off this then exactly?

I'm drunk enough to tell you that I got a lot of money, like A LOT, from such an investment. Could have made much, much more, tho. Fuck that tho

 

[auxien]

3 minutes ago, zero said:

so how do you make money off this then exactly? I understand based on the thread title you are approaching crypto from not just an investment standpoint. but say someone has $1k they want to invest and they're looking at crypto. how do you explain to someone how that $1k could turn into more?

the same way people make money off investing in gold, stocks, currency trading, futures, etc.... perceived value, that’s it. modern currency and economics is all a sham held together by a shared illusion and some spit and glue.

[Cryptowen]

crypto won't be a real currency until rappers rap about it

[Alcofribas]

my understanding of bitcoin is that you buy a coin which is stored on a hard drive of your choosing. the value of the coin fluctuates basically at random and is thus unpredictable? and if you lose your wallet or whatever all your money is gone?

lol sounds cool

[zero]

@Cryptowen sorry man, I was knocking the phrase "crypto" earlier as being something negative and associating negative imagery with it, and didn't even think about your username here. no offense intended. 

[auxien]

22 minutes ago, Cryptowen said:

crypto won't be a real currency until rappers rap about it

 

[Cryptowen]

@zerolol no worries. This username is something I came up with when I was like 12 & really into cryptozoology. Joining WATMM at age 18 was just about the tale end of me seriously using it for anything. Now I'm a month away from 30 & there it is, a holdover from over half my life ago.

i think there is actually a guy who uses this same moniker for participating in cryptocurrency discussion forums, though, as i found out during a vanity googling a couple years back

@auxienlol when i wrote that post i thought "probably there are cryptocurrency rappers already but they'd be the kind of rappers who look like they've been to a gathering of the juggalos"

Edited January 20, 2021 by Cryptowen

[zero]

26 minutes ago, dingformung said:

I'm drunk enough to tell you that I got a lot of money, like A LOT, from such an investment. Could have made much, much more, tho. Fuck that tho

 

smart move to walk away while ahead. what did you do with all that money? did you spend it on useless crap? or put it to good use, like saving all the animals in Africa, like any good anti-capitalistic watmmer would do...

[chenGOD]

1 hour ago, zero said:

so how do you make money off this then exactly? I understand based on the thread title you are approaching crypto from not just an investment standpoint. but say someone has $1k they want to invest and they're looking at crypto. how do you explain to someone how that $1k could turn into more?

I can tell you how, you just need to pay me in btc. 

[zero]

9 minutes ago, chenGOD said:

I can tell you how, you just need to pay me in btc. 

what about djt coin, do you accept that?

[zlemflolia]

1 hour ago, zero said:

so how do you make money off this then exactly? I understand based on the thread title you are approaching crypto from not just an investment standpoint. but say someone has $1k they want to invest and they're looking at crypto. how do you explain to someone how that $1k could turn into more?

you don't "make" money off it it's just a new monetary technology that's superior to old forms in some ways, and worse in other ways.  in reality you do make money off it longterm because it's such a new technology and so many people are still completely ignorant of it as you can see in this thread, that if you buy it when it's sufficiently cheap you are an early adopter.  there will be 21m total bitcoins mined forever, and most of them are already claimed.  claim yours or you'll miss out as the remaining supply dwindles.  you can always buy $1k worth of bitcoins but in exchange you'll get fewer and fewer bitcoins over time.  it's not guaranteed to make money but so far it's performing better than any other investment over the longterm

1 hour ago, auxien said:

“we need to make more money so that no one needs money eventually” sounds like some serious trickle-down economics style dressing up.

maybe that sentence you made up sounds like that but it has nothing to do with anything i said

1 hour ago, Alcofribas said:

my understanding of bitcoin is that you buy a coin which is stored on a hard drive of your choosing. the value of the coin fluctuates basically at random and is thus unpredictable? and if you lose your wallet or whatever all your money is gone?

lol sounds cool

the bitcoins aren't stored on your hard drive.  if it was like that you could copy and paste the files and get more bitcoins.  the bitcoins are stored on the decentralized ledger.  what's on your hard drive is the private keys which give you or anyone who has them ownership over those bitcoins.  depending on your technical skill you can provide guarantees that you never lose your bitcoins and that nobody else can steal them.

[Alcofribas]

22 minutes ago, cyanobacteria said:

you don't "make" money off it it's just a new monetary technology that's superior to old forms in some ways, and worse in other ways.  in reality you do make money off it longterm because it's such a new technology and so many people are still completely ignorant of it as you can see in this thread, that if you buy it when it's sufficiently cheap you are an early adopter.  there will be 21m total bitcoins mined forever, and most of them are already claimed.  claim yours or you'll miss out as the remaining supply dwindles.  you can always buy $1k worth of bitcoins but in exchange you'll get fewer and fewer bitcoins over time.  it's not guaranteed to make money but so far it's performing better than any other investment over the longterm

maybe that sentence you made up sounds like that but it has nothing to do with anything i said

the bitcoins aren't stored on your hard drive.  if it was like that you could copy and paste the files and get more bitcoins.  the bitcoins are stored on the decentralized ledger.  what's on your hard drive is the private keys which give you or anyone who has them ownership over those bitcoins.  depending on your technical skill you can provide guarantees that you never lose your bitcoins and that nobody else can steal them.

bro i can't even keep track of my passwords to the bills i pay electronically every month lol. i would for sure go bankrupt if i even bought one (1) coinage de la bit

[zlemflolia]

3 minutes ago, Alcofribas said:

bro i can't even keep track of my passwords to the bills i pay electronically every month lol. i would for sure go bankrupt if i even bought one (1) coinage de la bit

then you should start using a password manager.  one of the most popular is LastPass.  These let you have 1 password and the rest are randomly generated and stored in this program.  And anyway anyone can put effort into remembering the one password to their bank.  Think of the energy you pay into taxes and capitalist rent extraction to help create the banking system, then instead put a fraction of that energy towards memorizing a strong password for a couple months before you start using it, and regularly replaying it in your mind to make sure you remember it.  Life takes effort

[auxien]

39 minutes ago, cyanobacteria said:

maybe that sentence you made up sounds like that but it has nothing to do with anything i said

so in your 'get more money to more people' scenario the eventual goal isn't to rid the world of money? so you like capitalism????

[Alcofribas]

18 minutes ago, cyanobacteria said:

then you should start using a password manager.  one of the most popular is LastPass.  These let you have 1 password and the rest are randomly generated and stored in this program.  And anyway anyone can put effort into remembering the one password to their bank.  Think of the energy you pay into taxes and capitalist rent extraction to help create the banking system, then instead put a fraction of that energy towards memorizing a strong password for a couple months before you start using it, and regularly replaying it in your mind to make sure you remember it.  Life takes effort

may i recommend putting a fraction of your energies into entertaining sarcasm on watmm dot com?

[zero]

33 minutes ago, cyanobacteria said:

you don't "make" money off it it's just a new monetary technology that's superior to old forms in some ways, and worse in other ways.

ok, so why is it being promoted as something to invest in then, akin to a stock investment? that is largely the way a lot of people view it.

38 minutes ago, cyanobacteria said:

in reality you do make money off it longterm because it's such a new technology and so many people are still completely ignorant of it as you can see in this thread, that if you buy it when it's sufficiently cheap you are an early adopter. 

wait, so it sounds very similar like a stock investment then? this is why it is so confusing to me. if I can make money from it by buying low and sitting on it until it gets inflated by whatever forces, then it's an investment strategy, no?

42 minutes ago, cyanobacteria said:

claim yours or you'll miss out as the remaining supply dwindles. 

sounds like a snake oil pitch, hence the ponzi/pyramid scheme comparisons...

[chenGOD]

34 minutes ago, cyanobacteria said:

Think of the energy you pay into taxes and capitalist rent extraction

So you want socialism, but don’t like taxes?

1 hour ago, zero said:

what about djt coin, do you accept that?

I sure do! 
I just need your SSN and a piece of government issued ID to set you up with an account where you can send the djt coin for btc. 

[zero]

15 minutes ago, chenGOD said:

 

I sure do! 
I just need your SSN and a piece of government issued ID to set you up with an account where you can send the djt coin for btc. 

Ha, well I can make it even easier for you. I have a SIN, TD account, and CDN passport, so we can keep it all in-house, no middle man required! Just don't tell the CRA...

[Amen Warrior]

2 hours ago, Cryptowen said:

crypto won't be a real currency until rappers rap about it

Crypto won't be a real currency until people use it as a medium of exchange for goods and services, instead of buying it solely because a few hundred pitiful virgins on reddit somehow managed to make a significant amount of real life actual money out of it like 4 years ago, basically by luck, and they think "I too own a computer and want some real life actual money in exchange for doing literally fuck all, 3 bitcoins please"

[chenGOD]

2 minutes ago, zero said:

Ha, well I can make it even easier for you. I have a SIN, TD account, and CDN passport, so we can keep it all in-house, no middle man required! Just don't tell the CRA...

Oh are you Canadian? In that case never mind, I already have all your info. WATMM launders all its dirty cash through Canada. 

[zero]

27 minutes ago, chenGOD said:

Oh are you Canadian? In that case never mind, I already have all your info. WATMM launders all its dirty cash through Canada. 

dual citizen thanks to a canuck parent. did the reverse brain drain and lived there for 10+ years. keep an account active up there so I can do all sorts of dodgy tax stuff.

[zlemflolia]

2 hours ago, chenGOD said:

So you want socialism, but don’t like taxes?

why are you projecting emotions and feelings into my posts? I was merely describing the flows of money.  and socialism isn't just capitalism + higher taxes.

2 hours ago, auxien said:

so in your 'get more money to more people' scenario the eventual goal isn't to rid the world of money? so you like capitalism????

talk more precisely i literally have no idea what youre talking about.  "get more money to more people" scenario?  where was the described?  if youre going to use quotes make it a quote not your own made up rephrase

2 hours ago, zero said:

ok, so why is it being promoted as something to invest in then, akin to a stock investment? that is largely the way a lot of people view it.

wait, so it sounds very similar like a stock investment then? this is why it is so confusing to me. if I can make money from it by buying low and sitting on it until it gets inflated by whatever forces, then it's an investment strategy, no?

sounds like a snake oil pitch, hence the ponzi/pyramid scheme comparisons...

i dont control what people do, and it is a good investment.  its not a stock investment because its not stock.  its not a ponzi or pyramid scheme unless land is too.  those words have specific meanings and dont generically apply to any and all finite resources.  bitcoin is more like rare art or land.

[usagi]

3 hours ago, Alcofribas said:

one (1) coinage de la bit

lol

anyway I'm sure it's on its path to mainstream acceptance

Edited January 21, 2021 by usagi

[chenGOD]

4 hours ago, cyanobacteria said:

Think of the energy you pay into taxes and capitalist rent extraction to help create the banking system

 

1 hour ago, cyanobacteria said:

why are you projecting emotions and feelings into my posts? I was merely describing the flows of money.  and socialism isn't just capitalism + higher taxes.

Your post has nothing to do with the flow of money and talks about “energy”.

Nowhere did I say that socialism is capitalism + higher taxes, so I don’t know where you would get that from. 

[zlemflolia]

3 minutes ago, chenGOD said:

 

Your post has nothing to do with the flow of money and talks about “energy”.

Nowhere did I say that socialism is capitalism + higher taxes, so I don’t know where you would get that from. 

clearly the energy of earning the money to spend on those things