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Thread: The Automation Spiral (obligatory loleconomics thread v2)

  1. #2681
    VARRAKK's Avatar
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    I've continued to toy with Crypto Currency trading.
    Mom sent me a good portion of her savings and seeing some hefty returns.

    The risk is always there, but there are some very solid coins. And much happening this year with development on various projects.
    Definitely more value increases on many of them. No way near as complex as stock market.
    Why is it called earth, when it is mostly water???

  2. #2682
    Jack Coutu's Avatar
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    "I've decided to gamble with my parents savings"

  3. #2683
    Lowa [NSN]'s Avatar
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    Quote Originally Posted by Jack Coutu View Post
    "I've decided to gamble with my parents savings"
    Made 500k SEK for mom, got 125 back as xmas present (as did my sis). Pretty good deal, you should ask your parents for the same.
    Quote Originally Posted by Tarminic View Post
    I would create a dragon made out of vaginas. Then I would create a dragon made out of dicks. Then I would have them fight to the death.

  4. #2684
    Duckslayer's Avatar
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  5. #2685
    Movember 2011 RazoR's Avatar
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    Quote Originally Posted by Lowa [NSN] View Post
    500k SEK
    That's 60k bux if anyone wonders.

  6. #2686

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    Thus my previous posts are further confirmed.

  7. #2687

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    Quote Originally Posted by VARRAKK View Post
    I've continued to toy with Crypto Currency trading.
    Mom sent me a good portion of her savings and seeing some hefty returns.

    The risk is always there, but there are some very solid coins. And much happening this year with development on various projects.
    Definitely more value increases on many of them. No way near as complex as stock market.
    You trade it or you invest in it?

  8. #2688
    VARRAKK's Avatar
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    Quote Originally Posted by August View Post
    Quote Originally Posted by VARRAKK View Post
    I've continued to toy with Crypto Currency trading.
    Mom sent me a good portion of her savings and seeing some hefty returns.

    The risk is always there, but there are some very solid coins. And much happening this year with development on various projects.
    Definitely more value increases on many of them. No way near as complex as stock market.
    You trade it or you invest in it?
    90% is trade.
    Rest is long term bound to currencies that I expect to increase in value.

    I like buying into various coins of very low value. I'm a sucker for those 0,001usd pr coins.
    For instance TRON, I bought into it when it was launched, paid 0,002usd/c. Today it is 0,05.
    A 20x value increase.

    In my moms case, she game me 15k euros.
    Beginning of feb I put 10k into Kusama (99usd/c at feb 1, 320+ usd/c today) and 5k Polkadot (16usd/c feb 1 and 36usd7c today).


    Crypto currency is a very volatile market. Huge swings both up and down. It rarely stays down for long (hello cardano (both times I invested in it)).
    Taking a 20-50% loss on a crypto is not really a big deal. Quickly recovered elsewhere, or just sit it out if you don't have any good prospects.
    I wouldn't go heavily into it, but a few K euro/usd should get the ball rolling. If you time it right, you can probably double it every 30-60 days.
    Why is it called earth, when it is mostly water???

  9. #2689
    Movember '12 Best Facial Hair Movember 2012Donor Lallante's Avatar
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    None of these rare cryptos seem to have much economically significant purpose though, they are just a speculation tool

  10. #2690
    VARRAKK's Avatar
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    There are two types of Crypto Currencies.
    Some are (going to be) a electronic currency.
    Most of them, are application based.

    But as long as they have a perceived value, it doesn't matter.
    It is the same with stocks, except behind them in most cases is a business you can see and touch.
    But value on stocks is also a perceived value. Is Tesla the most valuable car company in the world? Hell no! But their stock prices says yes..
    Why is it called earth, when it is mostly water???

  11. #2691
    Approaching Walrus's Avatar
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    There will be central bank cryptocurrency, so three types. Or maybe one type, if they move to ban the exchange of currency from central banks with unregulated cryptocurrency.

    https://www.ecb.europa.eu/euro/digit.../index.en.html

    "A digital euro"

    https://www.bloomberg.com/opinion/ar...g-like-bitcoin

    "Fed's Digital Dollar Would Look Nothing Like Bitcoin"

  12. #2692
    Joshua Foiritain's Avatar
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    Quote Originally Posted by VARRAKK View Post
    Some are (going to be) a electronic currency.
    This one always confuses me, why would anyone ever use any type of crypto for actual payment again knowing what happened the price of bitcoin/other crypto over time? Looking back at all the people that paid 3 bitcoin/150.000+ euros today for a pizza in the early 2000s not a single sensible person is ever actually going to spend crypto are they?



  13. #2693
    Keckers's Avatar
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    I buy weed with bitcoin. At the current rate of inflation my initial £100 might buy me a decades worth.
    Look, the wages you withheld from the workmen who mowed your fields are crying out against you. The cries of the harvesters have reached the ears of the Lord of Hosts. You have lived on earth in luxury and self-indulgence. You have fattened yourselves for slaughter.

  14. #2694
    VARRAKK's Avatar
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    Quote Originally Posted by Joshua Foiritain View Post
    Quote Originally Posted by VARRAKK View Post
    Some are (going to be) a electronic currency.
    This one always confuses me, why would anyone ever use any type of crypto for actual payment again knowing what happened the price of bitcoin/other crypto over time? Looking back at all the people that paid 3 bitcoin/150.000+ euros today for a pizza in the early 2000s not a single sensible person is ever actually going to spend crypto are they?
    That is because they are new currencies.
    (And I had a buddy in Denmark buy a pizza for 2700 bitcoins, maybe he suicided by now)

    The hard currencies we are used to, are very old. And also if substantial value.
    These too are in constant value change, but since they are matched up with other currencies they fluctuation is very low.

    As more uses open up for cryptoes, their value will go up. And as more coins enter play will eventually become more stable like hard currencies.
    Why is it called earth, when it is mostly water???

  15. #2695
    walrus's Avatar
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    I know of a guy who bought a house for bitcoin...

    ...in 2015. I wonder how big a house he could have bought now.
      Spoiler:
    Quote Originally Posted by RazoR View Post
    But islamism IS a product of class warfare. Rich white countries come into developing brown dictatorships, wreck the leadership, infrastructure and economy and then act all surprised that religious fanaticism is on the rise.
    Also:
    Quote Originally Posted by Tellenta View Post
    walrus isnt a bad poster.
    Quote Originally Posted by cullnean View Post
    also i like walrus.
    Quote Originally Posted by AmaNutin View Post
    Yer a hoot

    Larkonis Trassler is an antisemite:
    https://bit.ly/3t3NfHs

  16. #2696
    Movember '12 Best Facial Hair Movember 2012Donor Lallante's Avatar
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    There are two types of Crypto Currencies.
    Some are (going to be) a electronic currency.
    Most of them, are application based.
    So basically:
    1) A novelty with practical uses primarily just for criminals
    2) A system of tokens that only offers very vague and theoretical technical benefits over a centralised ledger (coins certainly dont seem any less susceptible to fraud, subversion and bad-actors IN PRACTICE (inb4 'no true coin has ever been tried')


    I once spent 400 bitcoins on 8 hits of acid FYI.

  17. #2697
    Keckers's Avatar
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    Block chain for policing short selling might have some value in the future...
    Look, the wages you withheld from the workmen who mowed your fields are crying out against you. The cries of the harvesters have reached the ears of the Lord of Hosts. You have lived on earth in luxury and self-indulgence. You have fattened yourselves for slaughter.

  18. #2698

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    Quote Originally Posted by RazoR View Post
    Quote Originally Posted by Lowa [NSN] View Post
    500k SEK
    That's 60k bux if anyone wonders.
    BTW, this is one of my favorite Google features, if anyone isn't aware of it: https://www.google.com/search?q=500000+SEK+in+EUR

    Does work for basically any type of conversion: <amount> <unit> in <other unit>, e.g. 100 kg in lbs

  19. #2699

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    Double post ... Gateway timed out
    Last edited by Hel OWeen; March 12 2021 at 01:55:16 PM.

  20. #2700
    walrus's Avatar
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    Quote Originally Posted by Hel OWeen View Post
    Quote Originally Posted by RazoR View Post
    Quote Originally Posted by Lowa [NSN] View Post
    500k SEK
    That's 60k bux if anyone wonders.
    BTW, this is one of my favorite Google features, if anyone isn't aware of it: https://www.google.com/search?q=500000+SEK+in+EUR

    Does work for basically any type of conversion: <amount> <unit> in <other unit>, e.g. 100 kg in lbs
    895 Parsecs =
    2.76168144 × 10^29 angstroms
    cool

    e:

    895 angstroms =
    2.90049746 × 10^-24 Parsecs
    Last edited by walrus; March 12 2021 at 01:41:00 PM.
      Spoiler:
    Quote Originally Posted by RazoR View Post
    But islamism IS a product of class warfare. Rich white countries come into developing brown dictatorships, wreck the leadership, infrastructure and economy and then act all surprised that religious fanaticism is on the rise.
    Also:
    Quote Originally Posted by Tellenta View Post
    walrus isnt a bad poster.
    Quote Originally Posted by cullnean View Post
    also i like walrus.
    Quote Originally Posted by AmaNutin View Post
    Yer a hoot

    Larkonis Trassler is an antisemite:
    https://bit.ly/3t3NfHs

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