Inflation much?

lilduke

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Bored today waiting on pow so bare with me haha

This is a bitcoin mine:

20211117_134407.jpg


Something like this consumes as much power as a small city and its just warehouses full of super computers.

Bitcoin is the most powerful computer network in the world in terms of computing power.


Who do you suppose would own something like that? Think its at all possible the boys at vanguard and black rock have their fingers in this?

Do you think theyd build all this for no reason and the government would just let them eat a miilion jigga watts of the country's power supply????


Something to think about haha
 

arff

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Bored today waiting on pow so bare with me haha

This is a bitcoin mine:

View attachment 247654

Something like this consumes as much power as a small city and its just warehouses full of super computers.

Bitcoin is the most powerful computer network in the world in terms of computing power.


Who do you suppose would own something like that? Think its at all possible the boys at vanguard and black rock have their fingers in this?

Do you think theyd build all this for no reason and the government would just let them eat a miilion jigga watts of the country's power supply????


Something to think about haha

The one in Leduc is in a strip mall. Not sure if bitcoin. Security looks scary.

Been to it a few times. The cooling units quit sometimes and building gets way too hot. Sets off fire alarm system.

Noticed huge power transformer outside and cooling units.

Kind of cool
 

Couch

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It's not backed by a standard but it is at the same time. It's backed by the confidence of the people and the investors that own it. The gold standard was the same way, gold has always been valueable because it is scarce and valued by investors. Bitcoin is becoming the same, it becoming the same, you just can't hold it in a safe like gold, which in many ways makes it safer from theft.

Bitcoin could very well be replaced, and other cryptocurrencies will come along to compete with it. But I think you are nuts if you believe people are going to trade in their Bitcoin for another cryptocurrency controlled by the government.

I used to be a crypto skeptic, but I'm coming around to the idea, saddly I don't have any money in Bitcoin, my dum@ss bought into underperforming gold and silver.
True but at some level gold remains a tangible item / asset with a history that predates current economies of practically every nation - hence the gold standard.
Crypto is an idea and supported by supporters and users and therefore can rise / fall accordingly much like any currency. Govt's are short of the mark in regulating it to the benefit of early adopters but it's likely just a matter of time before the regulatory framework begins to catch up and the gains will most likely diminish or fall in line with other forms of investments.
 

pipes

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True but at some level gold remains a tangible item / asset with a history that predates current economies of practically every nation - hence the gold standard.
Crypto is an idea and supported by supporters and users and therefore can rise / fall accordingly much like any currency. Govt's are short of the mark in regulating it to the benefit of early adopters but it's likely just a matter of time before the regulatory framework begins to catch up and the gains will most likely diminish or fall in line with other forms of investments.

The Gold Standard went the way of the DODO bird. I watched an interesting program on television about it. I wish I could find a link to it.
 

jhurkot

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Ya that might have been a bit harsh so i edited it.


I dont believe for 1 second, buffet has 0$ invested in the crypto space though.

Guy probably owns some huge mines.

Buffet didn’t buy apple until it hit $1T. I bet he owns zero crypto.
 

ABMax24

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True but at some level gold remains a tangible item / asset with a history that predates current economies of practically every nation - hence the gold standard.
Crypto is an idea and supported by supporters and users and therefore can rise / fall accordingly much like any currency. Govt's are short of the mark in regulating it to the benefit of early adopters but it's likely just a matter of time before the regulatory framework begins to catch up and the gains will most likely diminish or fall in line with other forms of investments.

Gold will likely always be a medium used to hold/secure wealth. Crypto though seems to be a store and most importantly an easy medium to transmit wealth and use as a currency.

At this point I'm really not sure how they'd regulate crypto, I guess they could outlaw the miners, but they'd just move offshore. But to attempt to regulate the personal holding and use of crypto seems to be an insurmountable task, without complete government control over every internet connection and every electronic device I just don't see it being possible. What could be done is to regulate it at the retailer side, and could make it illegal for retailers to accept. But I'm not sure that curbs it's adoption, Bitcoin is already worth Trillions and it's use as a method of payment is thus far quite limited.
 

kenvb

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Trudope lowered our Seniors Benifits to $640 a month was $960 till few months ago. i worked part time last yr and made too much,. doesnt pay to work apparently?? and my CPP is only $340 because i was self employe most of my life and my accountant never paid into it.good thing the wife was a teacher and paid the max into it and actually saved it all..not like me.buying stupid sleds and bikes and having fun..now.not so much fun..oh well.. had fun till turned 65. ..Oh well..we still have our old Et 250s to play with .
 

lilduke

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Buffet didn’t buy apple until it hit $1T. I bet he owns zero crypto.
He may or may not have a crypto wallet, but he definitely has his fingers in the crypto industry, and invests in companies that are involved with crypto.


The old guy is involved in just about every industry there is.
 

LUCKY 7

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Trudope lowered our Seniors Benifits to $640 a month was $960 till few months ago. i worked part time last yr and made too much,. doesnt pay to work apparently?? and my CPP is only $340 because i was self employe most of my life and my accountant never paid into it.good thing the wife was a teacher and paid the max into it and actually saved it all..not like me.buying stupid sleds and bikes and having fun..now.not so much fun..oh well.. had fun till turned 65. ..Oh well..we still have our old Et 250s to play with .
Are you talking a drop in old age pension money??? Am I reading your post correctly as it was dropped due to you working parttime or did you drop everyone's? as it wouldn't surprise me if he did
 

kenvb

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Are you talking a drop in old age pension money??? Am I reading your post correctly as it was dropped due to you working parttime or did you drop everyone's? as it wouldn't surprise me if he did
he dropped ours because our combined income was $36,700 last yr..poverty income is $36,000 here? we live on end of a street with 16 low income Natives in them that get average of $2500 each adult and free housing..when i was still working seasonal up to 2019 we needed extra hand for a few weeks..i stopped in at few of these guys homes and asked if interested in a job for few weeks at $25 a hr..hell no..we get more than that to stay home?
 
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