The ramifications of blockchain technology?

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Re: The ramifications of blockchain technology?

#1121  Postby quas » Jul 14, 2021 1:06 am

OlivierK wrote:Right, so you're feeling shafted because of instead of owning property as a low-risk-over-the-long-term way of storing capital, you bought property as a gamble based on the illusion of a sure, quick, high return, and your gamble failed.

It's not as risky as you imagine it.

I bought the property to be used as a warehouse + workshop to support expanding business. So, even if no one wanted to buy this lousy property, I still haven't lost money. It's all about the immortal game.

But then, as soon as I bought it, I received new information that made me realise the business could be expanding faster than I had initially projected and I would probably need a bigger space. So, I wanted to sell immediately, and use the profit to get a bigger space. And then what happened next?

even pre-COVID, it was likely to fail, because your plan was to sell almost immediately for $1,000,000 a property that even on the day you bought it, they couldn't find a $600,000 buyer for.

That's how people flip property. Buy at 1/2 price, sell for normal price.
As paradoxical as that sounds, lots of people have done that successfully.
Paradox being the key here. If it's so obviously simple, everyone would have been a successful property flipper.

But let me explain in a way that how this might make sense, not this doesn't become a paradox.
Suppose you own a really good property that you wouldn't want to sell at all cost.
Then, one day, medical emergency happened. COVID, cancer, whatever.
You need money immediately. You need to sell that property immediately.

There is always people who somehow finds themselves needing money in an emergency. Business operations failing overnight,
sudden medical situations, divorce, etc. You need a bit of luck finding these property owners.

Another way you could flip property is to find an old, dilapidated building, probably on the verge of crumbling. If you know what you are doing, you could renovate it for not much money, and then sell it as a brand new building.

As long as you buy low & sell high, you profit. That's how I do crypto investment.
That's why I don't recommend Bitcoin. It's too high now, you can't easily double your money in the short term. By short term, I mean 2 months. Of course, I could be wrong. But I'm not in crypto to 2X in 2 months.

----
HERE'S WHAT HAPPENED NEXT:

or what it's worth, COVID has substantially increased the value of all of my properties, since they're not in large cities, but in places in high demand now that large cities are regarded as pandemic risks, and more and more people are looking at smaller cities and towns with better lifestyles and better value properties now that working from home is more accepted. Doesn't really matter since I'm not looking to flip them for a quick buck, but I'm not complaining, as these short, event-driven booms are often what drives sustained value increases over a decades-long investment horizon.


You have no idea what's going to happen next. I asked hackenslash about this, and he sort of confirmed that there is a chance of COVID mutating until it is completely immune to all vaccines. Your property today might go to shit tomorrow. When I bought that warehouse, it was last year, while we had a COVID situation, we all somehow stupidly believe - like stupidly believing in religion - this will be over by December 2020, or at least end of this year.

What happened next was, I tried to sell this property, and no one wanted to buy. I had initially wanted to sell so that I can buy a bigger warehouse, to support future business expansion. And now, the fate of that is uncertain, as COVID worsened, government infrastructure projects are being cancelled and diverted away into the bottomless pit of COVID emergencies.

So now I thought, okay, I can still do this immortal game. I'm going to sell this 1/2 price property at 1/2 price. Or even less than that. I can break even and then put that capital into crypto. We all know how that turned out.

I am stupid rich and I have a lousy unsellable warehouse to stash all that money. Immortal game indeed.
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Re: The ramifications of blockchain technology?

#1122  Postby felltoearth » Jul 14, 2021 1:49 pm

quas wrote:
felltoearth wrote:If you find it difficult to make a 30% profit in construction I reeeeeeeaaaaly don’t recommend food and beverage for you.


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F&B is small margin, but consistent money. A non-stop money printing machine.

Construction is bigger margin, but very inconsistent. You don't work all day every day of the year.

Based on this, I really, really, really don’t recommend you getting into F&B. The principles of material procurement, labour and pricing are the same. It doesn’t matter if the rate of money in and money out (suppliers are usually COD or even pre-pay, at least in construction you can get net 30) is different. You’re going to have the same struggle.


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Re: The ramifications of blockchain technology?

#1123  Postby quas » Jul 15, 2021 2:32 pm

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Re: The ramifications of blockchain technology?

#1124  Postby The_Metatron » Jul 15, 2021 2:44 pm

Oh, that's cute. Do you honestly think one of those lion head tokens (a virtual, software defined thing) is somehow different from any other token (also virtual, software defined things)?

Did you not notice that the only reason they start at a value of one dollar is their authors simply said so? There's only going to be a million of 'em, simply because the authors said so.

Any asshole who wants to learn the code can simply create cryptocurrencies of any flavor they want, as many as they want. You could set any arbitrary limit on their numbers. Anyone can do this.

Since any one cryptocurrency is pretty much the same virtual software defined thing as every other, what, exactly, makes one more valuable than another?

Gambling.
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Re: The ramifications of blockchain technology?

#1125  Postby quas » Jul 15, 2021 5:29 pm

You are 100% correct if you say there's nothing unique about this crypto. But, at the same time, you are also 100% wrong. There's never been a crypto that's marketed like this.

A marketer's job is to turn a commonplace product -a commodity- into something that stands out as unique in the mind of the consumers. A product doesn't necessarily have to be better quality, it just have to be perceived differently. That's enough to trigger buying behavior.

When I was looking for which crypto to invest in, I put on my marketer's thinking cap to figure out among all the 10,000s of cryptos out there which one really stood out from a marketing perspective.

The lion head thing was something that was added later on. When the project was first launched, it had a logo of a moon on a coin to represent a "shoot to the moon" meme, which was a meme based on GME WSB. That was too clichéd. After the crypto project was launched, a community quickly formed to ensure the project's success. The marketing experts in the community quickly changed the logo into a lion head to facilitate lion-based memes for the crypto's promotion. Dogecoin is relied solely on the dog meme for promotion, but this project has a multiple-pronged approach: TechLead's Youtube videos, lion memes, etc.

A lot of people are quick to criticize this coin as having no utility, and that's a valid point. But then again Dogecoin or SHIB don't have utility either, it is only later on that they started adding utilities. This product is still at its early stage, no one knows how this will evolve - hence the speculative part. This whole black swan farming thing is what venture capitalists do. When you invest in a nascent start-up like this, you don't necessarily invest in the business model, you invest in the founder. 20 years ago, you don't invest in Amazon because of its tiny online bookstore business, you invest in Jeff Bezos - and you certainly have no idea back then how different today's Amazon compared to 20 years ago. As Tech Lead explained in the Q&A video, he initially wanted to launch a crypto that's tied to the performance of his Youtube channel, that would be very similar to a stock offering. But that's not viable due to SEC regulation. In a way, this crypto project is a way for his fans to invest in him.

Even without utility, Doge managed to hit 88 billion market valuation, SHIB got to 13 billion. At its $150 price today, Million token is at $150 million valuation. That's like buying penny stock. Or buying Bitcoin in 2011.

Bitcoin has 21 million coin supply, and it got to over 1 trillion. Million only has 1 million coin supply. This could be Bitcoin killer. Who knows.
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Re: The ramifications of blockchain technology?

#1126  Postby quas » Jul 16, 2021 12:28 am

It's not just a crypto that's marketed differently. That's only part of it. It's market conditions as well. This is the most important part.

AMC, GameStop Swing as Meme Stocks Run Out of Air
https://www.wsj.com/articles/amc-gamest ... 1626354992

GameStop Stock Is Falling Back to Reality. Blame Netflix.
https://www.barrons.com/articles/things ... 1626345502
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Re: The ramifications of blockchain technology?

#1127  Postby OlivierK » Jul 16, 2021 9:31 pm

quas wrote:You are 100% correct if you say there's nothing unique about this crypto. But, at the same time, you are also 100% wrong. There's never been a crypto that's marketed like this.

A marketer's job is to turn a commonplace product -a commodity- into something that stands out as unique in the mind of the consumers. A product doesn't necessarily have to be better quality, it just have to be perceived differently. That's enough to trigger buying behavior.

When I was looking for which crypto to invest in, I put on my marketer's thinking cap to figure out among all the 10,000s of cryptos out there which one really stood out from a marketing perspective.

The lion head thing was something that was added later on. When the project was first launched, it had a logo of a moon on a coin to represent a "shoot to the moon" meme, which was a meme based on GME WSB. That was too clichéd. After the crypto project was launched, a community quickly formed to ensure the project's success. The marketing experts in the community quickly changed the logo into a lion head to facilitate lion-based memes for the crypto's promotion. Dogecoin is relied solely on the dog meme for promotion, but this project has a multiple-pronged approach: TechLead's Youtube videos, lion memes, etc.

A lot of people are quick to criticize this coin as having no utility, and that's a valid point. But then again Dogecoin or SHIB don't have utility either, it is only later on that they started adding utilities. This product is still at its early stage, no one knows how this will evolve - hence the speculative part. This whole black swan farming thing is what venture capitalists do. When you invest in a nascent start-up like this, you don't necessarily invest in the business model, you invest in the founder. 20 years ago, you don't invest in Amazon because of its tiny online bookstore business, you invest in Jeff Bezos - and you certainly have no idea back then how different today's Amazon compared to 20 years ago. As Tech Lead explained in the Q&A video, he initially wanted to launch a crypto that's tied to the performance of his Youtube channel, that would be very similar to a stock offering. But that's not viable due to SEC regulation. In a way, this crypto project is a way for his fans to invest in him.

Even without utility, Doge managed to hit 88 billion market valuation, SHIB got to 13 billion. At its $150 price today, Million token is at $150 million valuation. That's like buying penny stock. Or buying Bitcoin in 2011.

Bitcoin has 21 million coin supply, and it got to over 1 trillion. Million only has 1 million coin supply. This could be Bitcoin killer. Who knows.

I'm not sure if it's intentional, but this is as good a summary of crypto as I've ever read. What turns $1m of this new coin in to $150m is marketing. The resource is suckers, and crypto coins are fighting over them. If only the supply of suckers was as limited as the supply of these new coins, then the scam wouldn't work. But it's not, so it does. Still, those left holding the ball when the crash comes can take comfort that they didn't really lose their money, they just let some marketing asshole mine their bank account.
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Re: The ramifications of blockchain technology?

#1128  Postby quas » Jul 17, 2021 4:26 am

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Re: The ramifications of blockchain technology?

#1129  Postby jamest » Sep 04, 2021 2:23 am

Good day to you all.

Inflation is now gathering much steam, yet interest rates are staying near zero whilst asset/other prices continue to rise.

Our governments dare NOT raise interest rates on debt because that will entail economic armageddon, since many (even most) won't survive that increase, especially since covid did so much damage to so many (wallets). Yet, inflation keeps on rising and it will continue to rise (especially in this continued environment of bowing to covid as king)... until the point that a tipping point is eventually reached. I mean, inflation in itself is an economic disaster if left unchecked. So you see, what we have here are governments which cannot raise interest rates confronted with ever-growing inflation rates. You must realise that inevitably there comes a point (a tipping point) where our governments (or, our central banks) MUST make an emergency response to the scenario in which we are NOW living!?!

This is very bad news for most in this forum and our own, especially since The West seems doomed to be economically conquered by The East sometime soon unless the good ol' USA does a Pearl Harbour and attacks China in order to cull this inevitability whilst it still has the military might to do so. If/when that happens, expect to see 'proof' that China intentionally started this whole covid-19 nightmare, as justification.

These are very worrying times that we're living in and I see no light at the end of the tunnel. In fact, I see ever diminishing lights within said tunnel that lead to a very dark ending.
However, there still appears to be some time to diminish the effects of these proceedings upon yourselves and your loved ones.

1) Henceforth, I would advise anyone here who is in debt to pay off that debt asap, prior to rises in interest rates.
2) Indeed, don't get yourself into further debt. (Don't buy anything any more unless you have the cash to pay for it)(Especially be wary of buying a house and thinking that low interest rates are forever).
3) If you have any significant savings, invest the majority of them NOW into assets which will not go to zero as the $/£/etc. become increasingly worthless.

Most of you here have taken the piss out of me advising you to buy crypto since early 2019, even if that advice would have given you a 2000% profit, but even our governments are moving towards digital currency, so it's a no brainer to have some exposure to crypto.
Even if you think that crypto is for idiots like me, there are alternative investments such as precious metals, commodities, property/land, jewellery, art, antiques, and many others, which will have value regardless of whether the £/$ collapses.

The bottom-line:

Time is running out. Fast. Get your fucking heads out of the sand. Seriously. Genuinely. Don't wait until it's too late.
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Re: The ramifications of blockchain technology?

#1130  Postby Hermit » Sep 04, 2021 3:56 am

jamest wrote:Inflation is now gathering much steam

Care to substantiate that claim with some actual figures confirming the trend and links to them? You will also need to establish that the trend is
a) outside the usual range of variations*
b) chiefly due to Coronavirus lockdowns
c) international in scope

jamest wrote:Time is running out. Fast. Get your fucking heads out of the sand. Seriously. Genuinely. Don't wait until it's too late.

Same old JamesT. Makes unsubstantiated assertions, creates unjustified conclusions, is 100% convinced of the truth of all of them and finishes with an arrogant exhortation.

*Maybe start with this historical chart of UK's inflation rates over the past 10 years and point to the alarming bit.

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Re: The ramifications of blockchain technology?

#1131  Postby OlivierK » Sep 04, 2021 7:18 am

jamest wrote:Good day to you all.

Good early morning to you, too :drunk: :drunk: :drunk:

jamest wrote:Our governments dare NOT raise interest rates on debt because that will entail economic armageddon, since many (even most) won't survive that increase, especially since covid did so much damage to so many (wallets).

So providers of goods and services will just keep jacking up their prices without limit in a market where your average punter would be brought to their knees by even a small interest rate rise. Am I reading your theory right? What sectors do you think will lead the inflation spiral?

Hermit: UK inflation has risen significantly since January, where your chart ends. It's now at levels not seen since 2019 (2% !1! :o !1!). The rapidity of the rise is also unprecedented. And when I say unprecedented, I mean it hasn't risen this far or this fast since early 2017 !!1! :o !1!. I've seen projections where it may by rise by 50% over the next few years!!1! (Not to 52%, of course, but to 3%, or a little lower, over the next few years).

James: Go on then, nail your colours to the mast. What's your best guess for UK inflation in 1, 2, and 5 years? Or, if you prefer, what's a likely timeframe by which inflation will certainly have surpassed 5%? Or 10%?
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Re: The ramifications of blockchain technology?

#1132  Postby Hermit » Sep 04, 2021 8:30 am

OlivierK wrote:Hermit: UK inflation has risen significantly since January, where your chart ends. It's now at levels not seen since 2019 (2% !1! :o !1!). The rapidity of the rise is also unprecedented. And when I say unprecedented, I mean it hasn't risen this far or this fast since early 2017 !!1! :o !1!. I've seen projections where it may by rise by 50% over the next few years!!1! (Not to 52%, of course, but to 3%, or a little lower, over the next few years).

It's a worry, isn't it? :mrgreen:

Scrolling down to the section titled "Figure 1: Annual CPIH inflation eased to 2.1% in July 2021" on this page you can find this chart of annualised inflation figures by the month from July 2011 to July 2021.

Figure 1 Annual CPIH inflation eased to 2.1% in July 2021.png
Figure 1 Annual CPIH inflation eased to 2.1% in July 2021.png (47.85 KiB) Viewed 303 times


You can also download the data it is based on in .xls or .csv form. Your choice. All three confirm the alarming facts you mentioned, though nowhere near the apocalyptic scale our friend of unjustified hyperbole and bombastic expressions would have us believe. Is it a coincidence that he posts in such manner at times when people in the UK are most likely to imbibe in alcoholic beverages?

Also, I actually agree with James insofar as I expect inflation rates in the UK to trend upward in the short term, but I think that will be chiefly due to Brexit.
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Re: The ramifications of blockchain technology?

#1133  Postby OlivierK » Sep 04, 2021 11:48 am

So as long as Britain stays Brexited, inflation will keep trending up! James was right! 1000% here we come.
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Re: The ramifications of blockchain technology?

#1134  Postby jamest » Sep 18, 2021 3:21 am

See the link below. The all-important rate-of-inflation will be the USA. If that goes tits-up, all the foreign sheep will follow.

https://tradingeconomics.com/united-sta ... lation-cpi

As soon as that graph goes significantly above 5.4%, just do whatever you can to save yourselves. We're in a period of damage limitation here already, in case you hadn't noticed.

Do you know what happens once everyone realizes that their government can do nothing to control inflation? Panic.

When has any government issued a decree that current rising levels of inflation were temporary? A serious question. My answer:

They do it to buy time for themselves and to fool people not to panic, as though they weren't themselves.

Anyone who has faith in their government during 'these times' must, in my opinion, be retarded.
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Re: The ramifications of blockchain technology?

#1135  Postby Spearthrower » Sep 18, 2021 3:38 am

Someone in need of a leg to dry-hump again?
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Re: The ramifications of blockchain technology?

#1136  Postby Hermit » Sep 18, 2021 7:11 am

jamest wrote:See the link below. The all-important rate-of-inflation will be the USA. If that goes tits-up, all the foreign sheep will follow.

https://tradingeconomics.com/united-sta ... lation-cpi

As soon as that graph goes significantly above 5.4%, just do whatever you can to save yourselves. We're in a period of damage limitation here already, in case you hadn't noticed.

Do you know what happens once everyone realizes that their government can do nothing to control inflation? Panic.

When has any government issued a decree that current rising levels of inflation were temporary? A serious question. My answer:

They do it to buy time for themselves and to fool people not to panic, as though they weren't themselves.

Anyone who has faith in their government during 'these times' must, in my opinion, be retarded.

People were panicking when the annualised US inflation rate rose to 23.7% in 146. Three years later it had dropped to -3%. They panicked again in 1980 when the inflation rate nudged the 15% mark. By 1984 it had shrunk to 3%.

So, back to your predictions: When will we see quadruple-digit inflation and the death of more than half of the global population? You obviously abandoned your original claim that this was going to happen last March, but "some time fairly soon" looks a bit unsatisfactory as far as the usefulness of predictions go, don't you think?

Oh, and your prediction that crypto-currencies can save us is based on no more than your personal conviction that it will. History has repeatedly shown that no currency will save us from economic Armageddon. Whenever we go through one of those we fall back on bartering. "Currency" will be immediately consumable items - cigarettes, eggs, firewood, chocolates, nylon stockings, sex...
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Re: The ramifications of blockchain technology?

#1137  Postby BlackBart » Sep 18, 2021 3:10 pm

Hermit wrote:cigarettes, eggs, firewood, chocolates, nylon stockings, sex...


Sounds like my kinda weekend! :awesome:
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Re: The ramifications of blockchain technology?

#1138  Postby Spearthrower » Sep 18, 2021 5:06 pm

You rock those stockings BlackBart, and don't let anyone tell you otherwise.
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Re: The ramifications of blockchain technology?

#1139  Postby Macdoc » Sep 18, 2021 9:53 pm

a market garden and chooks will do it.
We're part way there with some veggies- a maturing coffee and coco crop - might need to be rationed.
Lots of room for chooks but have to be python proof cage. :coffee:
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Re: The ramifications of blockchain technology?

#1140  Postby newolder » Sep 24, 2021 6:49 pm

I am, somehow, less interested in the weight and convolutions of Einstein’s brain than in the near certainty that people of equal talent have lived and died in cotton fields and sweatshops. - Stephen J. Gould
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