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Thread: Bitcoin

  1. #2481
    Donor erichkknaar's Avatar
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    Quote Originally Posted by walrus View Post
    "Aesthetics has no real value."

    -Internet nerd, 2018
    That isn’t what I said. What I said is that whatever humans decide has value, has value. See gold.
    meh

  2. #2482

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    Quote Originally Posted by erichkknaar View Post
    Quote Originally Posted by walrus View Post
    "Aesthetics has no real value."

    -Internet nerd, 2018
    That isn’t what I said. What I said is that whatever humans decide has value, has value. See gold.
    Gold is a bad example on that, because it is absolutely necessary for manufacturing certain things and thus industry drives it's price. Better example here would be diamonds; the natural diamonds have absolutely no value except what De Beers can extract from the jewelry business. And to keep the prices high they use their monopoly to just keep most of the production sitting in vaults. For industrial applications artificial diamonds are way cheaper and their main use being abrasives means you don't even need large stones.

  3. #2483
    Frug's Avatar
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    Quote Originally Posted by depili View Post
    Gold is a bad example on that
    Except his original quote was about ancient society, for which gold is the best example. At least diamonds are hard.

    Quote Originally Posted by Loire
    I'm too stupid to say anything that deserves being in your magnificent signature.

  4. #2484

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    Quote Originally Posted by erichkknaar View Post
    What I said is that whatever humans decide has value, has value.
    Whatever they're willing and able to pay for at the time it is available.

    Subtle but important distinction.

  5. #2485
    Donor erichkknaar's Avatar
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    Quote Originally Posted by elmicker View Post
    Quote Originally Posted by erichkknaar View Post
    What I said is that whatever humans decide has value, has value.
    Whatever they're willing and able to pay for at the time it is available.

    Subtle but important distinction.
    Indeed. And at one point, someone was willing and able to pay $20k+ for bitcoin.
    meh

  6. #2486
    Shaikar's Avatar
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    ...no ability to use other than aesthetically or as a store of value
    "I cannot into reading comprehension."
    - Walrus, 2018.

  7. #2487
    Keckers's Avatar
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    A lot of things store value because they are aesthetically pleasing. I think that was his point.
    Quote Originally Posted by Paul Mason
    It is absurd that we are capable of witnessing a 40,000 year old system of gender oppression begin to dissolve before our eyes yet still see the abolition of a 200 year old economic system as an unrealistic utopia.

  8. #2488
    Movember 2011Movember 2012 Nordstern's Avatar
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    Quote Originally Posted by Keckers View Post
    A lot of things store value because they are aesthetically pleasing. I think that was his point.
    So, therefore, Jolin's collection makes him exceedingly wealthy?
    "Holy shit, I ask you to stop being autistic and you debate what autistic is." - spasm
    Quote Originally Posted by Larkonis Trassler View Post
    WTF I hate white people now...

  9. #2489
    Keckers's Avatar
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    Scarcity and fungibility are also important factors.
    Quote Originally Posted by Paul Mason
    It is absurd that we are capable of witnessing a 40,000 year old system of gender oppression begin to dissolve before our eyes yet still see the abolition of a 200 year old economic system as an unrealistic utopia.

  10. #2490
    Lana Torrin's Avatar
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    Quote Originally Posted by Nordstern View Post
    Quote Originally Posted by Keckers View Post
    A lot of things store value because they are aesthetically pleasing. I think that was his point.
    So, therefore, Jolin's collection makes him exceedingly wealthy?
    It doesnt?
    Quote Originally Posted by lubica
    And her name was Limul Azgoden, a lowly peasant girl.

  11. #2491
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    Quote Originally Posted by Lana Torrin View Post
    Quote Originally Posted by Nordstern View Post
    Quote Originally Posted by Keckers View Post
    A lot of things store value because they are aesthetically pleasing. I think that was his point.
    So, therefore, Jolin's collection makes him exceedingly wealthy?
    It doesnt?
    I read in a not peer reviewed click bait first year psychology study that looking at tities makes you live longer. If it only was true then Jolin will become old testament old like 800 years at a minimum.
    Schopenhauer:

    All truth passes through three stages.
    First, it is ridiculed.
    Second, it is violently opposed.
    Third, it is accepted as being self-evident..

  12. #2492
    Straight Hustlin's Avatar
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    Quote Originally Posted by Frug View Post
    Quote Originally Posted by depili View Post
    Gold is a bad example on that
    Except his original quote was about ancient society, for which gold is the best example. At least diamonds are hard.
    I feel like you guys are ignoring some important aspects of gold that made it highly prized in antiquity. Firstly gold is found in a metallic state naturally and has a relatively low melting point, ~1064c, while a bit above silver, it is slightly lower than copper, and almost 500c below iron; also those material are almost exclusively found as ore's not natural metals. The ease of forging gold due to the lack of smelting made it one of, and quite possibly, the earliest metals worked by human hands, which leads in to another important quality of gold which is it's ductility and malleability. And lastly gold does not under go corrosion or tarnishing in natural circumstances.

    So you have a material that is found naturally and does not need to be smelted down from ore, It is incredibly easy to shape, form, and recycle, can be polished to a mirror finish, and basically last forever. It is quite easy to see why ancient cultures valued it and why it continues to be today.

  13. #2493
    Donor erichkknaar's Avatar
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    Quote Originally Posted by Straight Hustlin View Post
    Quote Originally Posted by Frug View Post
    Quote Originally Posted by depili View Post
    Gold is a bad example on that
    Except his original quote was about ancient society, for which gold is the best example. At least diamonds are hard.
    I feel like you guys are ignoring some important aspects of gold that made it highly prized in antiquity. Firstly gold is found in a metallic state naturally and has a relatively low melting point, ~1064c, while a bit above silver, it is slightly lower than copper, and almost 500c below iron; also those material are almost exclusively found as ore's not natural metals. The ease of forging gold due to the lack of smelting made it one of, and quite possibly, the earliest metals worked by human hands, which leads in to another important quality of gold which is it's ductility and malleability. And lastly gold does not under go corrosion or tarnishing in natural circumstances.

    So you have a material that is found naturally and does not need to be smelted down from ore, It is incredibly easy to shape, form, and recycle, can be polished to a mirror finish, and basically last forever. It is quite easy to see why ancient cultures valued it and why it continues to be today.
    I don't disagree with any of that. Most of the ancient history stuff I've read says that it was most likely the fact that it didn't tarnish (and the obvious link to the concept of immortality) that really got our love affair with gold started. The point was that jewelry, currency, artifacts, crowns etc. all have value, because we decided they do, which is different to the properties of say, iron, which got value (such that it has had) for primarily practical reasons.
    meh

  14. #2494
    Sacul's Avatar
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    Le surprise

    Bitcoin’s Price Was Artificially Inflated Last Year, Researchers Say
    https://www.nytimes.com/2018/06/13/t...ipulation.html
    Schopenhauer:

    All truth passes through three stages.
    First, it is ridiculed.
    Second, it is violently opposed.
    Third, it is accepted as being self-evident..

  15. #2495
    Keckers's Avatar
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    How do you artificially inflate the price of something which is unregulated by design and uses that as a selling point?

    edit: Hang on if I'm understanding this right: they're claiming Tether was used to manipulate bitcoin pricing because it pegs bitcoin to the dollar in some way, so the price (in dollars) drops and then people use tether (which is 'pegged' to the dollar) to buy more bitcoin using imaginary tether dollars which tether can just create out of thin air?

    This is hilarious. Cryptocurrency is the gift that just keeps on giving.
    Last edited by Keckers; June 14 2018 at 09:14:02 AM.
    Quote Originally Posted by Paul Mason
    It is absurd that we are capable of witnessing a 40,000 year old system of gender oppression begin to dissolve before our eyes yet still see the abolition of a 200 year old economic system as an unrealistic utopia.

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