Crypto doomsday
Comments
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Crypto works if people believe in it.
Just like any fiat currency.
But most fiat currencies have something more of substance behind them - like the word and assets of a nation.
Blockchain tech is great, but that's completely independent of bitcoin. In the aerospace industry, it will make traceability a breeze and that's big. -
Da fuq is a fungible?PurpleThrobber said:I get the whole blockchain technology. Lots of cool applications - title industry comes to mind. Also anything that needs a clear chain of ownership/transactions - royalty interests in oil & gas come to mind. Both super labor intensive paper-pushing, recording at court houses, etc. Pain in the ass.
I do NOT get crypto currency. Looks to me to be a commodity trade and until it becomes more fungible as a means of exchange, I can't wrap my head around it as an investment. I can put my money in, but how the fuck do I get it out without paying some banker-man a fee to convert it to cold hard cash.....which is kind of what they are trying to avoid in the first place.
Until I can go to the grocery store and buy pepperoni sticks (Hempler's best, by the way- the jalapeno cheese is goddamned delicious) and vodka with my phone/bitcoin, it doesn't do me much good. -
https://www.merriam-webster.com/dictionary/fungibleSwaye said:
Da fuq is a fungible?PurpleThrobber said:I get the whole blockchain technology. Lots of cool applications - title industry comes to mind. Also anything that needs a clear chain of ownership/transactions - royalty interests in oil & gas come to mind. Both super labor intensive paper-pushing, recording at court houses, etc. Pain in the ass.
I do NOT get crypto currency. Looks to me to be a commodity trade and until it becomes more fungible as a means of exchange, I can't wrap my head around it as an investment. I can put my money in, but how the fuck do I get it out without paying some banker-man a fee to convert it to cold hard cash.....which is kind of what they are trying to avoid in the first place.
Until I can go to the grocery store and buy pepperoni sticks (Hempler's best, by the way- the jalapeno cheese is goddamned delicious) and vodka with my phone/bitcoin, it doesn't do me much good.
fun·gi·ble | \ ˈfən-jə-bəl \
Definition of fungible
(Entry 1 of 2)
1: being something (such as money or a commodity) of such a nature that one part or quantity may be replaced by another equal part or quantity in paying a debt or settling an accountOil, wheat, and lumber are fungible commodities.fungible goods
2: capable of mutual substitution : INTERCHANGEABLE… the court's postulate that male and female jurors must be regarded as fungible— George Will
3: readily changeable to adapt to new situations : FLEXIBLEManagers typically use more than a hundred different lineups over the course of the season. Batting orders are so fungible that few players last long in one spot.— Tom Verducci
fungible
noun
Definition of fungible (Entry 2 of 2)
: something that is fungible (see FUNGIBLE entry 1 sense 1) : a good one part or quantity of which can be substituted for another of equal value in satisfying an obligation —usually used in pluralFungibles may be valued by weight or measure.
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It's like a mushroom. Or a mold. Except plural. And a verb.Swaye said:
Da fuq is a fungible?PurpleThrobber said:I get the whole blockchain technology. Lots of cool applications - title industry comes to mind. Also anything that needs a clear chain of ownership/transactions - royalty interests in oil & gas come to mind. Both super labor intensive paper-pushing, recording at court houses, etc. Pain in the ass.
I do NOT get crypto currency. Looks to me to be a commodity trade and until it becomes more fungible as a means of exchange, I can't wrap my head around it as an investment. I can put my money in, but how the fuck do I get it out without paying some banker-man a fee to convert it to cold hard cash.....which is kind of what they are trying to avoid in the first place.
Until I can go to the grocery store and buy pepperoni sticks (Hempler's best, by the way- the jalapeno cheese is goddamned delicious) and vodka with my phone/bitcoin, it doesn't do me much good.
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They’re sort of like a deep fried onion in a bag with a lot of saltSwaye said:
Da fuq is a fungible?PurpleThrobber said:I get the whole blockchain technology. Lots of cool applications - title industry comes to mind. Also anything that needs a clear chain of ownership/transactions - royalty interests in oil & gas come to mind. Both super labor intensive paper-pushing, recording at court houses, etc. Pain in the ass.
I do NOT get crypto currency. Looks to me to be a commodity trade and until it becomes more fungible as a means of exchange, I can't wrap my head around it as an investment. I can put my money in, but how the fuck do I get it out without paying some banker-man a fee to convert it to cold hard cash.....which is kind of what they are trying to avoid in the first place.
Until I can go to the grocery store and buy pepperoni sticks (Hempler's best, by the way- the jalapeno cheese is goddamned delicious) and vodka with my phone/bitcoin, it doesn't do me much good. -
As an example - "hey ho, I'll give you this deep fried onion in a bag with a lot of salt. You give me a blowie".doogie said:
They’re sort of like a deep fried onion in a bag with a lot of saltSwaye said:
Da fuq is a fungible?PurpleThrobber said:I get the whole blockchain technology. Lots of cool applications - title industry comes to mind. Also anything that needs a clear chain of ownership/transactions - royalty interests in oil & gas come to mind. Both super labor intensive paper-pushing, recording at court houses, etc. Pain in the ass.
I do NOT get crypto currency. Looks to me to be a commodity trade and until it becomes more fungible as a means of exchange, I can't wrap my head around it as an investment. I can put my money in, but how the fuck do I get it out without paying some banker-man a fee to convert it to cold hard cash.....which is kind of what they are trying to avoid in the first place.
Until I can go to the grocery store and buy pepperoni sticks (Hempler's best, by the way- the jalapeno cheese is goddamned delicious) and vodka with my phone/bitcoin, it doesn't do me much good.
If she takes the deep fried onion in a bag with a lot of salt instead of money/coke, the onion is fungible.
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Don’t have much to ad except we are a stable Couple that own our home and have $400,000 equity in it. All our kids went to private school at great expense. We are retired and living comfortably.
We also are invested in Cryptocurrenncy and it has done very well for us. -
How does one "invest" in currency, crypto or otherwise?
I get currency trading and all, but is that really considered an investment? What do you expect to grow? -
You buy Bitcoin, Etherium etc. and it stays in your “wallet”. The value goes up or down like other commodities.
It seems there are a couple of people here that seem to want to criticize me for just commenting. It’s pretty pathetic. I’m not here to promote cryptocurrency. The only reason I commented and added our financial situation is because a few people here seemed to say that crypto was just purchased by whacko young people. BTW I am 74 yrs old and don’t really care what anyone’s opinion of crypto is. I respect your opinions until you attack me for mine. 😁
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No worries DJ. Your contributions here are appreciated.
I will say that you’re the only person in your age range who I personally know who owns crypto.
