Coming here shilling shitcoins or NFTs isn't the right track, no. (What's with the noob invasion?) |
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The number 21 is obviously only half of the ultimate answer - which is well known to be 42. |
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... earlier ITT: Using Bitcoin-collateralized loans to buy more Bitcoin.
Risky AF. Given how lucky I have been in life, I'm not sure I have the fortitude (even with the plate-training) to handle a strategy like that - even with 5%-10% of my stash.
Seems like the down-side risk is way too high IMO.
Ultimately, I get that NGU on a long-enough timeline, but the short-term volatility might fuck you hard without lube, and that's never fun.
Especially if they haven't enema'd and showered beforehand, if you catch my meaning...
This is something I am also facing, and kind of feel like you do. I am going to need to come up with some cheddar due to things going on in my world... This is one option. Borrow against my stack? Or just sell some. Or another option is a line of credit... a loan not collateralize against the corn, but backed up by it for me. In other words... get a loan and then HOPEFULLY pay it off with a smaller amount of Bitcoin than it would have taken to do right now. But on the other hand there is ALWAYS the possibility that BTC goes down, and I lose that bet. Meh. I feel you both. I've been thinking for a long time, trying to find a way to live off corn without actually spending corn. It seems impossible until you realize it only depends fundamentally on a NGU state. Collateralized debt that can be margin called when NGD is risky. I don't like the looks of it. However, clever system might be devised in the (hopefully near) future when there are enough happy bitcoiners to create a demand. Debt that is backed by corn, with an implicit bet that NGU (with some corn erosion if not). This could be viable if the time horizon is long enough - say, over 4 years? That's the first time range that came to my mind for some reason. Especially if the loan can be repaid earlier with a discount on the unpaid interest (for unpaid time), this really can get workable. It is tantamount to a long position with low margin on perpetual futures. If the corn goes up seriously, you shave off as much as needed to pay out the loan. The system that feels the most comfortable to me uses out of the money covered call options. You write (sell) some call options now, promising you'll sell the corn at a certain strike price on a certain date. You get paid a premium for this promise. You get the premium immediately. I would write a call option @300k today, but since the strike price is so preposterously out of the money, the premium would be slim. On expiry, two things can happen: either the price is below 300k, so no one will ask you to buy at that price, and you're good; or the price is above that, so you are forced to sell for "only" 300k per coin. There might be other ways. Or better said, I'm sure there are - but some are risky (DeFi trickery involved), and as for the others, I'm willing to hear and learn. Which better place for that than the WO? |
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A good one, even for nocoiners. +1 WoSMerit |
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Part of the problem is that older guys might sometimes get tired of their wives,
-snip-
By the way, on that last point, there might be some willingness to assert that "I don't mind paying for the services that we agree to", but then even if we might be at magnitudes above entry-level fuck you status, we might not be very accustomed to "transactional relations," so in that regard, even if there might be a "transactional relationship" going on, we still want to attempt to maintain a kind of appearance that the relationship is not transactional, and creating those kinds of relationships might not be very easy to accomplish... Am I talking from experience? not going to get into those kinds of details, at this time.
By the way, one of the difficulties of having that long-term spouse relationship may be some of the possible "being discrete" issues because the wife might not completely mind if some of the side play starts to happen, but she may well not want to know details or to have anyone who she knows to know such details either.. in order that she can maintain face.
A detour from your usual waters, JJG. Bitcoiner problems many of us haven't (yet) dedicated enough thinkening to. Have my last! |
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... now I have to wonder how long until Tether or USDC go to a bitcoin-backed model? ... hmmm
Without digging too deep, it sounds like a recipe for disaster. The convexity of the curve goes the wrong way. What if the backing asset (bitcoin), goes down too much wrt the tracked asset (USD)? Not even 0% rehypothecation can make sure the whole thing doesn't collapse. Like not even holding 200% btc reserves (as if they ever would). "Durr durr it won't happen because bitcoin intrinsically superior, durr durr" Irrational/solvent, markets are like this. Algorithms are supposedly rational, but catastrophic events do happen. Algorithmic bug or execution glitch, all it takes is once. USDT/USDC should be backed by plain old greenbacks. One to one. (#SOMA warning) |
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Russia gets to be number 2 at the top. Which might be what the Russian-Ukraine war is really about. Theater war about having defeated communism while sharing the new world order. USA gets to be at the top, of course. Russia gets to be player 2.
Hows that for buzzwords?
Buzzword test FAILED Missing: CHINA |
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Let's make a difference, let's not throw this unique opportunity away. Let's feed a cuntonian.
GET THE FUCK OUT OF HERE mkay?
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3 cb not allowed 🚫
I don't give a f about that. 2cb not being allowed - now, that has been a real shame! |
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Sad. Much as we like screen captures (which are OK), we like links a lot more. I'd like to know exactly how they "seized" the bitcoin. Trudeau set up a successful 51% attack? Not likely. Perhaps replies explain this, perhaps not. Without a link, we will not know. My guess is the retards used an exchange address. I was hoping for an answer from the OP himself, possibly after he'd done some research on twitter ;-) Unfortunately, said individual was busy concocting multiple price models for us. But yes, I agree that's the most likely explanation. I can imagine the treasurer trucker searching "crypto" while dreaming of magical internet money donations or something like that, and falling into the hands of the first exchange to be listed by google. |
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Sad. Much as we like screen captures (which are OK), we like links a lot more. I'd like to know exactly how they "seized" the bitcoin. Trudeau set up a successful 51% attack? Not likely. Perhaps replies explain this, perhaps not. Without a link, we will not know. |
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I'm not making a moral argument, or saying we should be living in huts or anything like that. I'm taking a long haul flight across the Atlantic in ten days to vacation in the Caribbean (a certain socialist island...). I just think as we focus more and more on reducing emissions, POW cryptos will become a target, as well as other excessive emitters of CO2. Flying serves a purpose, whereas for most people cryptos don't. I even think it could be an existential threat to Bitcoin.
There is absolutely NO civilizationional purpose for you to haul your ass across the globe for a vacation, none whatsoever. It's just your whim and civilization obliges (for now). EU 'greens' should restrain themselves from air traveling first and foremost or travel by dirigibles. Case closed. Including Greta, who burns tons of fossil fuels just to go around and preach others not to do like herself. |
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It's entirely possible to change Bitcoin from POW to POS. All you need is a law. The electrons in the algorithms rearrange themselves as soon as the bill is approved or the law is published - depending on the quantum level of electron compliance. The so-called "electron scare" factor. Scared electrons are reliable electrons and all that stuff. Actually, given the level of understanding they are showing, it could be worth a shot to try and explain them that Bitcoin is already proof of stake! Those who stake the most hash power get to pick the transactions in the next block. Right? |
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I'm spending too much merit on legendaries. Getting profligate! Keeping a few for commendable not-yet-legends... which means it's just WOsMerits for seasoned dwellers this turn. Biodom jojo The reality is the current global economy is a Landfill Economy that glorifies waste as growth. Heuristic Don't let science get in the way of a good rant.
Toxic im sorry I think there is almost a standard around here...and thats to be better than twitter... overachievers the lot of us
And here's some respect to the (old?) farts. sirazimuth - For shooting gas without warning I never have methane guilt, even in a crowded elevator.
I just blame it on the dude next to me...
Jimbo - Fartbombing the vicar and his wife :-D My mother had the vicar and the vicar's wife to tea
+1 WOsMerit each. TL;DR: Stop making this much sense gents! Merits don't have an infinite supply! Uh... surely not? |
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One central issue seems to be that governments do not even feel that they need to tax in order to spend for war.. they will spend for war with printed money.. if they actually had to tax the people to pay for war, they would have to actually deal with disagreement from the plebs.. so an easier (and sneakier) way around actually taxing us is to just print money.. because even though printing money is a kind of tax.. it is much harder to identify as such.. and less likely that there is even going to be any kind of attempt, whatsoever, to seek consent.
This is a subtle but fundamental point about war. This article was linked here recently, can't be bothered to find where or by whom (but I think I spent one merit on that link). Re-posting it for relevance with JJG's spot-on statement. https://bitcoinmagazine.com/culture/how-the-fed-hides-costs-of-war |
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I kind of get it but I also do not. If you are the survivor of a post-nuclear world, then what are the actual chances you get to meet another survivor? In that kind of world, not even seeds, banknotes or coffee is helpful anymore.
I suggest coffee still is, while admittedly more enjoyable in good company. But whatever, I see your point. |
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This is why they're going after cattle as well.
We're going to have to tap those cattle next for bitcoin mining.
 Eating CO2? Mining? What we need: ...cattle! So says the rancher. #haiku |
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That makes no sense. I mean, it's great that the energy is being used for something useful but it's still CH4+202 -> CO2+2H20 Left-wing math, presumably. I am not sure (need to check, but probably someone here knows already), but I seem to recall that CH4 has a worse greenhouse profile than even CO2? EDIT Hasty posting. Sorry. @xhomerx10 does indeed know and promptly explained. |
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I experimented a little bit, and the answer is 169 weeks (3.25 years).  It's at $22780 right now, and rising about $30 a day. Great detective/research work, @Phil_S. I think this is interesting, potentially valuable info - we don't care about worthless trivia here do we?  Thanks for taking the time! |
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Good morning dear friends! Just remember that right when you think something is as dumb as humanly possible... someone... someone out there will be able to think of something even dumber!  I've missed that. What's up with DuckDuckGo? ^ Yeah, I know, but couldn't resist  Oh, I see. (Had to duckduckgo it myself, and yep, about time to move on, I guess I am going to look into Yacy again) I doubt decentralized solutions can compete with the powerful crawlers huge search engines have. Just a hunch, though. |
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