O/T Elon Musk

[the_idiotb_stardson]

Gm went fishing, so I thought I'd have a play. I hope nobody takes the personas we portray on these forums too seriously.

or our comments

[KerrAvon]

I think Terry Smith agrees with me

Bear in mind that Smith has skin in the game. Every pound invested in ******* or other 'alternative investments' is one less to go into the funds that he manages.

[KerrAvon]

No, I suspect it is you who agrees with him since you've almost verbatim parroted what he said about the value of a car. Good on you and him for trying though, in that you have attempted to acknowledge some potential even though you clearly don't really understand it. That's genuinely not intended to be partonising btw, I completely understand why someone like Warren Buffet is completely opposed and will never understand it because of his era, doesn't make him any less of a great investor of his time. This 384% gain you made, at what price did you sell? You're wecome by the way.

Skin in the game or not, when you step back and think about what Smith is saying, he is right, insn't he?

As a currency - a medium of exchange - ******* is not currently viable. No sensible person or business could rely upon it to undertake day to day transactions because it is way too volatile (as you point out).

Whether it eventually evolves into a useable currency remains to be seen, but let's not pretend that ******* is one at the moment. It's a speculative investment - a flutter- the equivalent of putting a few quid on the 2:30 at Kempton. That's cool provided that people only invest/ gamble what they can afford to lose and are willing to accept the risk.

I currently hold ******* and am enjoying the ride, but I'm not going to pretend that my involvement is anything other than that.

[John2]

As a currency - a medium of exchange - ******* is not currently viable. No sensible person or business could rely upon it to undertake day to day transactions because it is way too volatile (as you point out).

I agree. Though some dedicated geeks do exclusively use it and might not.

Where have I ever claimed that ******* is currently in a position to replace the GBP or USD in day to day use? I've always referenced the early internet to invoke patience when people try and make exaggerated claims about its current state.

It is a speculative for many, as indeed is the stock market, but that doesn't mean that there aren't many other serious investors who recognise its value on its fundementals and buy it as a long term investment rather than a short term speculative gamble. Multiple things can be true at the same time.

Amazon could go to £0.

[gm_gm]

Skin in the game or not, when you step back and think about what Smith is saying, he is right, insn't he?

As a currency - a medium of exchange - ******* is not currently viable. No sensible person or business could rely upon it to undertake day to day transactions because it is way too volatile (as you point out).

Whether it eventually evolves into a useable currency remains to be seen, but let's not pretend that ******* is one at the moment. It's a speculative investment - a flutter- the equivalent of putting a few quid on the 2:30 at Kempton. That's cool provided that people only invest/ gamble what they can afford to lose and are willing to accept the risk.

I currently hold ******* and am enjoying the ride, but I'm not going to pretend that my involvement is anything other than that.

This was the point I was making Kerr it’s more of a commodity than a currency. John still hasn’t answered my question, I want him to help me understand as I’m too old.

The scenario....Roly takes his morning stroll to the paper shop to purchase the Morning Star, he’s asked for £1.50 but Roly says he will pay by BTC instead....talk us through how he does this?

[John2]

You're asking how YouTube works in 1997.

Video streaming was technically possible in 1998, and a small number of enthiasts did it, but it took many years for adoption and infrastructure to get to the point where it became mainstream.

BTC has a new payment network called the lightning network in its early stages, which is one of a number of technologies that will facilitate the sort of transaction you describe. It will be very easy to do, you'll probably use your phone and it will work much like a contactless payment.

[gm_gm]

You're asking how YouTube works in 1997.

Video streaming was technically possible in 1998, and a small number of enthiasts did it, but it took many years for adoption and infrastructure to get to the point where it became mainstream.

BTC has a new payment network called the lightning network in its early stages, which is one of a number of technologies that will facilitate the sort of transaction you describe. It will be very easy to do, you'll probably use your phone and it will work much like a contactless payment.

BTW Roly does actually think it’s 1997.

Getting back to my scenario, you’ve answered the first part but still ignored the second and more important point, how much is Rolys Morning Star in BTC?

[John2]

Getting back to my scenario, you’ve answered the first part but still ignored the second and more important point, how much is Rolys Morning Star in BTC?

What is the cost in dollars, or yen, or euro?

You'd have to look at the current exchange rate.

Edit: Actually, £4.99 for a month subscription, the price is 0.00015 BTC, which can also be presented as 15k satoshis.

Again, you're so focused on the short term thinking, you're assuming that because it is volatile now it always will be. Now you can answer my question, what price did you sell at?

[Grist_To_The_Mill]

Oh John2 and kerravon together.

Odd that

[WanChaiMiller]

Gmgm. How did that challenge go when you claimed youd out run John over 3 sets playing modified tennis? Probably up there with your 50% gains.