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(CNBC)   There are some things money can't buy. For everything else, there's bitcoin   (cnbc.com) divider line
    More: Spiffy, Credit card, Debit card, MasterCard, bitcoin wallets, payments network, Vice president, scenes provider of custodial services, debit cards  
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489 clicks; posted to Business » on 26 Oct 2021 at 10:15 AM (5 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



50 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
2021-10-26 9:18:41 AM  
And that coffee will be $5.50, sir.

Oh, wait, just went up to $10

Oh, now it's down to $3... hurry up and swipe.

Shiat, ends up your coffee was $12.25.  Would you like an emailed receipt?
 
2021-10-26 9:38:13 AM  
FTA:

Shares of Bakkt, which began trading as a public company last week, surged an incredible 234% on the news.

Oh my, how curious!
 
2021-10-26 9:51:07 AM  
Remind me. Visa/Mastercard can do how many transactions per second? And complete a transaction in how many seconds?

How do those numbers stack up to bitcoin?

/ugh, when I'm defending the credit card companies
 
2021-10-26 10:20:00 AM  

Gubbo: Remind me. Visa/Mastercard can do how many transactions per second? And complete a transaction in how many seconds?

How do those numbers stack up to bitcoin?

/ugh, when I'm defending the credit card companies


From what I gathered, they seemed to indicate that the credit card reward system would now offer Bitcoin.
 
2021-10-26 10:42:55 AM  
I love this gradual mass adoption.

Farker haters gonna hate.
 
2021-10-26 10:44:20 AM  

Rev.K: FTA:

Shares of Bakkt, which began trading as a public company last week, surged an incredible 234% on the news.

Oh my, how curious!


Stocks tend to do that on good news.

If you find that curious, then maybe you don't have a huge future in investing. ;)
 
2021-10-26 10:47:58 AM  

Ketchuponsteak: Stocks tend to do that on good news.


So do garbage crypto currencies that crash or disappear soon after.
 
2021-10-26 10:56:14 AM  

Rev.K: Gubbo: Remind me. Visa/Mastercard can do how many transactions per second? And complete a transaction in how many seconds?

How do those numbers stack up to bitcoin?

/ugh, when I'm defending the credit card companies

From what I gathered, they seemed to indicate that the credit card reward system would now offer Bitcoin.


It does sound like that may be about the extent of it.

What say the haters who insisted bitcoin would never reach the currency equivalence of "Red Lobster Gift Cards"?
 
2021-10-26 10:58:22 AM  
There is no "wise investment strategy".
There are a multitude of different strategies that are wise or unwise for different people - depending on their age, their wealth, their plans and intentions in life, and a dozen other factors.
When some guy walks up to you and starts telling you he's got The Investment Strategy for you - walk away - fairly quickly, if you're feeling spry.
They're ALL full of shiat.
 
2021-10-26 10:58:41 AM  
Buy, Mortimer! Buy!
 
2021-10-26 11:05:57 AM  
Because transactions costs will just get bigger and transactions will take longer, probably someone will get the bright idea to trade tokens REPRESENTING some holding of bitcoin somewhere, and they will just trade approximate values based on averages and what have you. Credit card companies already do this with exchange rates. They make it up and put it on your bill and you accept it. They know the scam, and they know it works.

Why not? Who is going to say no? Who will question the "algorithm"? Who is going to do an audit? And what is to keep some exchange in say, Malta, or Dubai, from just starting a coin based on a notional promise to eventually pay someone in bitcoin someday, based on the national credit and tax authority?

And we will find that we have come full circle... the hallmark of our age.

Apple promising to free us from BIG BROTHER mainframes that control all our data, now gobbling up and hoarding our data worse than IBM ever did.

Tesla vowing to free us from our wasteful autocompany masters, and then going out and crushing unions, foisting unsafe software on drivers, fighting with regulators, and making consumermobiles.

Uber assuring us that we need a better taxi system, baiting and switching drivers, riders, and regulators.

And Bitcoin. Freeing everyone from fiat currency run by opaque governments to give us... fiat currency run by opaque international "organizations."

Greenpeace, working so hard for the environment that it has frightened all of human society away from nuclear power, the only scalable, safe, baseload technology that humans can rely on. As countries turn to coal instead, they have doomed green, doomed peace, doomed the environment, and doomed humanity.

I have lived long enough to watch the heroes turn to villains.
 
2021-10-26 11:06:02 AM  

Gubbo: Remind me. Visa/Mastercard can do how many transactions per second? And complete a transaction in how many seconds?

How do those numbers stack up to bitcoin?

/ugh, when I'm defending the credit card companies


Bitcoin has single digit TPS, which is obviously a problem.  Layer 2 networks, like Lightning, have much better TPS rates that are comparable with credit processers.  Hard numbers aren't too easy to come by.
 
2021-10-26 11:15:26 AM  
Fark user imageView Full Size
 
2021-10-26 11:40:02 AM  

Gubbo: Remind me. Visa/Mastercard can do how many transactions per second? And complete a transaction in how many seconds?

How do those numbers stack up to bitcoin?


Lightning network bitcoin can do Visa level transaction speeds and numbers at a fraction of the cost.  This is good for retailers and consumers.

Bitcoin is software, it evolves and gets better.  Regurgitating tired old facts isn't helping anyone.
 
2021-10-26 11:42:25 AM  

Rev.K: Ketchuponsteak: Stocks tend to do that on good news.

So do garbage crypto currencies that crash or disappear soon after.


No they don't.
 
2021-10-26 11:42:35 AM  

Lord Bear: Gubbo: Remind me. Visa/Mastercard can do how many transactions per second? And complete a transaction in how many seconds?

How do those numbers stack up to bitcoin?

Lightning network bitcoin can do Visa level transaction speeds and numbers at a fraction of the cost.  This is good for retailers and consumers.

Bitcoin is software, it evolves and gets better.  Regurgitating tired old facts isn't helping anyone.


I notice you didn't answer the question
 
2021-10-26 11:47:15 AM  

Fursecution: [Fark user image image 850x815]


Nah, they'll return to the classics.  Once things are co-opted, those that made money will play the 'I got mine' game.  The others will just update the verbiage of their complaints.  'You can't trust crypto, man, that's just how corpo big banks git you!'
 
2021-10-26 11:48:47 AM  

Gubbo: Lord Bear: Gubbo: Remind me. Visa/Mastercard can do how many transactions per second? And complete a transaction in how many seconds?

I notice you didn't answer the question


I did.  Lightning is just as fast as Visa, and can handle similar loads.

Here is a lightning transaction in El Salvador.  It's just like paying with other methods.
Buying @ Starbucks in El Salvador using bitcoin
Youtube fa9xB69jZk0
 
2021-10-26 11:50:29 AM  
Lames, everywhere.
 
2021-10-26 11:52:36 AM  

Hawk the Hawk: Fursecution: [Fark user image image 850x815]

Nah, they'll return to the classics.  Once things are co-opted, those that made money will play the 'I got mine' game.  The others will just update the verbiage of their complaints.  'You can't trust crypto, man, that's just how corpo big banks git you!'


Maybe if you cry enough, that darn crypto will go away?
 
2021-10-26 11:58:01 AM  

Karne: Hawk the Hawk: Fursecution: [Fark user image image 850x815]

Nah, they'll return to the classics.  Once things are co-opted, those that made money will play the 'I got mine' game.  The others will just update the verbiage of their complaints.  'You can't trust crypto, man, that's just how corpo big banks git you!'

Maybe if you cry enough, that darn crypto will go away?


In a few years, I'm sure that'll be your war cry.

And pfft, it isn't going to disappear, and why would I want it to go away?
 
2021-10-26 12:43:16 PM  
Better than Asscoin, I guess.
 
2021-10-26 12:50:38 PM  
Vibing with the FED and Bitcoin. Embrace it.
Youtube 109WLnpYkqE
 
2021-10-26 12:56:45 PM  

SirEattonHogg: I love this gradual mass adoption.

Farker haters gonna hate.


When everyone is getting MuskCoin as payment at the Tesla factories as a bonus instead of actual money or benefits, I'm gonna laugh and laugh.

And pray to god that I get to die/retire before this currency idiocy takes off real good.
 
2021-10-26 1:04:02 PM  

AppleOptionEsc: And pray to god that I get to die/retire before this currency idiocy takes off real good.


Pension funds just started buying this week.
 
2021-10-26 1:12:33 PM  

AsparagusFTW: AppleOptionEsc: And pray to god that I get to die/retire before this currency idiocy takes off real good.

Pension funds just started buying this week.


I was only semi-sacrastic about never retiring. I see now that is just a fact.
 
2021-10-26 1:16:00 PM  

AppleOptionEsc: SirEattonHogg: I love this gradual mass adoption.

Farker haters gonna hate.

When everyone is getting MuskCoin as payment at the Tesla factories as a bonus instead of actual money or benefits, I'm gonna laugh and laugh.

And pray to god that I get to die/retire before this currency idiocy takes off real good.


Nah, it'll stick around in some form.  Blockchain/ crypto is interesting and has utility unto themselves.

The laffy part are the zealots, who are just another incarnation of the standard anarcho-capitalist mindset.  Don't trust the Fed!  Buy gold!  All taxation is theft!  It's why you see such zany claims and cognitive dissonance.

Good for lulz, though.
 
2021-10-26 1:57:21 PM  

AsparagusFTW: AppleOptionEsc: And pray to god that I get to die/retire before this currency idiocy takes off real good.

Pension funds just started buying this week.


It's an infinite money machine.

If we all keep buying we'll all be rich.
 
2021-10-26 2:35:45 PM  

Smackledorfer: AsparagusFTW: AppleOptionEsc: And pray to god that I get to die/retire before this currency idiocy takes off real good.

Pension funds just started buying this week.

It's an infinite money machine.

If we all keep buying we'll all be rich.


It's not infinite, but you have to be a fool to not acknowledge its a growing industry.
 
2021-10-26 2:51:35 PM  

Lord Bear: Smackledorfer: AsparagusFTW: AppleOptionEsc: And pray to god that I get to die/retire before this currency idiocy takes off real good.

Pension funds just started buying this week.

It's an infinite money machine.

If we all keep buying we'll all be rich.

It's not infinite, but you have to be a fool to not acknowledge its a growing industry.


Industry is a weird way to describe it.

It's a thing that serves little functional purpose, but that a bunch of people believe will go up in value for reasons they cannot explain.  The best explanation anyone here has ever given, btw, is that new people will buy it because they also believe it will go up in value. I know how to describe such a thing, and it isn't positively.

The second best explanation in years of you folks pushing it on fark.com was that "how else would you buy a bicycle anonymously".

And your smelly urine friend you tag team these threads with has said his backup investment after bitcoin is magic the gathering cards.  Which, again, by all means pick the collectible/artwork/nft/whatever of your choice to invest in.  But don't call a collectible an industry, and don't get upset when your bitcoins are compared to beanie babies when you invest heavily in black lotuses.

Black lotuses may go up for the rest of my life.  I'm not FOMO about it, beyond the fact that my collection including one got stolen.  But if you told me dual lands would be the new currency because the banks would fail, inflation is 20% per year, and the USD would crash... well I'd laugh my ass off at you.  And people like Asparagus talk that way about bitcoin, and are laughed at for it.

There is no "gotcha" to be had by anonymous posters on the internet claiming they picked the right penny stock, knew knobgobbler was going to place third, or were sure their unopened copy of Crystalis would someday sell for 33 million at auction.  The number of people right about that kind of thing are vastly outnumbered by the number who pick something else and get it wrong.

I know that nobody who posts on fark will ever have a net loss on bitcoin investing.  You're all too good for that.  But a bunch of people will, and they'll listen to people like you, and they'll eschew the banks and they'll put their life savings into it, and when it falls apart they'll be absolutely farked.

Alternatively, the USD and Euro will collapse because bitcoins are just so awesome, and we'll probably wind up in an apocalypse.  In that case, my ammo, guns, canned goods, and hunting and fishing knowledge will be more valuable than bitcoin anyway.

TLDR: lol, bitcoin will go up forever, everyone should buy it with everything they've got. how could they lose?
 
2021-10-26 3:10:33 PM  

Smackledorfer: Lord Bear: Smackledorfer: AsparagusFTW: AppleOptionEsc: And pray to god that I get to die/retire before this currency idiocy takes off real good.

Industry is a weird way to describe it.

It's a thing that serves little functional purpose, but that a bunch of people believe will go up in value for reasons they cannot explain.  The best explanation anyone here has ever given, btw, is that new people will buy it because they also believe it will go up in value. I know how to describe such a thing, and it isn't positively.


The problem here is you have your head stuck in the sand and refuse to acknowledge the use cases of crypto.  Bitcoin is a better store of value than gold.  Bitcoin, XRP and others are currently backing banking and credit card transactions.  Ethereum (and its competitors) and it's smart contracts enable and empower all kinds of things such as Defi and NFTs.  Not to mention giving the all unbanked people of the world a secure place to store money.

So yes, it creates jobs and is therefore an industry.  A rapidly growing one.
 
2021-10-26 3:17:56 PM  

Smackledorfer: I know that nobody who posts on fark will ever have a net loss on bitcoin investing. You're all too good for that. But a bunch of people will, and they'll listen to people like you, and they'll eschew the banks and they'll put their life savings into it, and when it falls apart they'll be absolutely farked.


I've been advising people to put a small amount of their portfolio into bitcoin since 2016.  I wasn't wrong.  I put a small part in and can retire 20 years early if I wish.

Anyone that puts ALL their money into a risky investment will either get really rich or really poor. A fool and their money and all that.
 
2021-10-26 3:26:25 PM  

Lord Bear: Smackledorfer: Lord Bear: Smackledorfer: AsparagusFTW: AppleOptionEsc: And pray to god that I get to die/retire before this currency idiocy takes off real good.

Industry is a weird way to describe it.

It's a thing that serves little functional purpose, but that a bunch of people believe will go up in value for reasons they cannot explain.  The best explanation anyone here has ever given, btw, is that new people will buy it because they also believe it will go up in value. I know how to describe such a thing, and it isn't positively.

The problem here is you have your head stuck in the sand and refuse to acknowledge the use cases of crypto.  Bitcoin is a better store of value than gold.  Bitcoin, XRP and others are currently backing banking and credit card transactions.  Ethereum (and its competitors) and it's smart contracts enable and empower all kinds of things such as Defi and NFTs.  Not to mention giving the all unbanked people of the world a secure place to store money.

So yes, it creates jobs and is therefore an industry.  A rapidly growing one.


Adorable.

"It's a better store of value because people believe it's a better store of value"

That's EXACTLY what I'm laughing at you for.

You have no explanation of why, just a claim that a thing is.
 
2021-10-26 3:27:06 PM  

Lord Bear: Smackledorfer: I know that nobody who posts on fark will ever have a net loss on bitcoin investing. You're all too good for that. But a bunch of people will, and they'll listen to people like you, and they'll eschew the banks and they'll put their life savings into it, and when it falls apart they'll be absolutely farked.

I've been advising people to put a small amount of their portfolio into bitcoin since 2016.  I wasn't wrong.  I put a small part in and can retire 20 years early if I wish.

Anyone that puts ALL their money into a risky investment will either get really rich or really poor. A fool and their money and all that.


Why would it be risky if it's the best store of value ever?

fark off.
 
2021-10-26 3:29:03 PM  
Because Bear, when I say it is risky jackasses like you tell me I've got my head in the sand and I need to study it out.

And when I accuse you of saying it's some super safe, guaranteed, best choice investment, you pretend you believe it is risky.

You're full of shiat, and your last two posts prove it.
 
2021-10-26 3:36:20 PM  
And if it was or is risky, you shouldn't be such a turd about people saying "that's risky and I'll pass"

There is nothing incorrect or ignorant about people choosing not to embrace a risky investment. So stop being a d-bag about people not embracing Bitcoin. Hell, my portfolio is riskier than most people's. You'll forgive me if I don't drop my money into BTC and GameStop.

That shiat is like betting at the track. And everyone who wins tells the rest of us they are a unique genius .
 
2021-10-26 3:39:03 PM  

Smackledorfer: Lord Bear: Smackledorfer: Lord Bear: Smackledorfer: AsparagusFTW: AppleOptionEsc: And
Adorable.

"It's a better store of value because people believe it's a better store of value"
That's EXACTLY what I'm laughing at you for.
You have no explanation of why, just a claim that a thing is.


It's a mathematically known quantity with a set inflation rate. Gold supplies can fluctuate from a million different factors.  Bitcoin can't.  

So yes, it's a better store of value.

And when I say its risky, I mean it's unproven in the long term.  That said, its definitely less risky than it was 5 years ago when I first bought in.

And laugh all you want, I get the last laugh while swimming in my pool of money Scrooge McDuck style.
 
2021-10-26 3:45:46 PM  

Lord Bear: Smackledorfer: Lord Bear: Smackledorfer: Lord Bear: Smackledorfer: AsparagusFTW: AppleOptionEsc: And
Adorable.

"It's a better store of value because people believe it's a better store of value"
That's EXACTLY what I'm laughing at you for.
You have no explanation of why, just a claim that a thing is.

It's a mathematically known quantity with a set inflation rate. Gold supplies can fluctuate from a million different factors.  Bitcoin can't.  

So yes, it's a better store of value.

And when I say its risky, I mean it's unproven in the long term.  That said, its definitely less risky than it was 5 years ago when I first bought in.

And laugh all you want, I get the last laugh while swimming in my pool of money Scrooge McDuck style.


And the end of your post just fully revealed you are just trolling on this topic. Well, bye.
 
2021-10-26 3:53:04 PM  
Seriously folks, literally every single person on this forum pushing bitcoin ultimately gives up and posts "hurr durr I'm rich and ur jelly" as the essence of their argument.

They've got nothing, and they are probably just trolls who never bought in in the first place. Only one pro-coiner around here was a name I recognized before it skyrocketed, and I'd already had him farkied as a dumbass troll.

lh3.googleusercontent.comView Full Size
 
2021-10-26 3:56:56 PM  

Smackledorfer: Seriously folks, literally every single person on this forum pushing bitcoin ultimately gives up and posts "hurr durr I'm rich and ur jelly" as the essence of their argument.

They've got nothing, and they are probably just trolls who never bought in in the first place. Only one pro-coiner around here was a name I recognized before it skyrocketed, and I'd already had him farkied as a dumbass troll.

[lh3.googleusercontent.com image 308x512]


As much as you might believe that, completely dismissing any and all explanations why something is really reveals you as the troll.  A poor, destitute troll without a swimming pool full of money.
 
2021-10-26 4:17:56 PM  

Smackledorfer: Seriously folks, literally every single person on this forum pushing bitcoin ultimately gives up and posts "hurr durr I'm rich and ur jelly" as the essence of their argument.

They've got nothing, and they are probably just trolls who never bought in in the first place. Only one pro-coiner around here was a name I recognized before it skyrocketed, and I'd already had him farkied as a dumbass troll.

[lh3.googleusercontent.com image 308x512]


Lol, we already know that, amigo.  That's why there isn't a serious conversation about any of this.  Luckily, one can still comprehend crypto, and make money off it, without the need to succumb to the ridiculous pigeon logic of our lord and savior, The Cryptotoad.

I mean, I suppose you *could* continue trying to have an honest conversation...  But you're basically working with people who think 2+3 = 6, because you're just using old man math, and you don't understand is that gravity is ackchyually the real operator, causing the plus sign to fall over and become a multiplication symbol, proving that you can't trust banks and their accountants of evil!
 
2021-10-26 4:24:42 PM  
Smackledorfer:
It's a thing that serves little functional purpose,


A global currency with the ability to move funds around the world instantly without needing permission from a 3rd party intermediary has "no functional purpose"?

There's a reason Crypto has got the banking industry nervous, it's because it has the possibility of making them obsolete
 
2021-10-26 4:29:37 PM  

Hawk the Hawk: Smackledorfer: Seriously folks, literally every single person on this forum pushing bitcoin ultimately gives up and posts "hurr durr I'm rich and ur jelly" as the essence of their argument.

They've got nothing, and they are probably just trolls who never bought in in the first place. Only one pro-coiner around here was a name I recognized before it skyrocketed, and I'd already had him farkied as a dumbass troll.

[lh3.googleusercontent.com image 308x512]

Lol, we already know that, amigo.  That's why there isn't a serious conversation about any of this.  Luckily, one can still comprehend crypto, and make money off it, without the need to succumb to the ridiculous pigeon logic of our lord and savior, The Cryptotoad.

I mean, I suppose you *could* continue trying to have an honest conversation...  But you're basically working with people who think 2+3 = 6, because you're just using old man math, and you don't understand is that gravity is ackchyually the real operator, causing the plus sign to fall over and become a multiplication symbol, proving that you can't trust banks and their accountants of evil!


Well, I always TRY to give people a fair shake at first.
 
2021-10-26 4:34:58 PM  

Smackledorfer: Well, I always TRY to give people a fair shake at first.


i.bittwiddlers.orgView Full Size


Then I'll see you in the next thread!
 
2021-10-26 5:08:46 PM  

the_massive_a55hole: There's a reason Crypto has got the banking industry nervous, it's because it has the possibility of making them obsolete


yes, a bunch of energy-consuming, coin farming internet pretenders has the world banking system on its knees.


If you people could only listen to yourselves.
 
2021-10-26 5:56:48 PM  

Smackledorfer: Seriously folks, literally every single person on this forum pushing bitcoin ultimately gives up and posts "hurr durr I'm rich and ur jelly" as the essence of their argument.

They've got nothing, and they are probably just trolls who never bought in in the first place. Only one pro-coiner around here was a name I recognized before it skyrocketed, and I'd already had him farkied as a dumbass troll.

[lh3.googleusercontent.com image 308x512]


Keep telling yourself that, poor boy! Whatever helps you feel better about yourself.   
You have been wrong since Bitcoin came out, why stop now?
 
2021-10-26 6:03:01 PM  

Rev.K: the_massive_a55hole: There's a reason Crypto has got the banking industry nervous, it's because it has the possibility of making them obsolete

yes, a bunch of energy-consuming, coin farming internet pretenders has the world banking system on its knees.


If you people could only listen to yourselves.


We're only up to a thread a day on Fark about bitcoin, it's obviously dying quickly.
 
2021-10-26 6:08:54 PM  

Earl of Chives: We're only up to a thread a day on Fark about bitcoin, it's obviously dying quickly.


A thread a day on Fark.....

The global banking community.


Ok, Jan.
 
2021-10-26 6:44:51 PM  

Rev.K: Earl of Chives: We're only up to a thread a day on Fark about bitcoin, it's obviously dying quickly.

A thread a day on Fark.....

The global banking community.


Ok, Jan.


That guy that died in the swamp and Alec Baldwin will have NFTs that replace the USD because fark had a thread per day on them.

It is known.
 
2021-10-26 10:04:20 PM  

the_massive_a55hole: There's a reason Crypto has got the banking industry nervous, it's because it has the possibility of making them obsolete


Cryptocurrencies will not replace banks. They will continue along doing the same things they do now (making loans, etc.), just with a different currency.

What it will do is remove central government control of currencies, which is a very, very bad thing and that is what has the banking industry nervous.
 
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