Blowout Cards Forums
AD Heritage

Go Back   Blowout Cards Forums > BLOWOUTS HOBBY TALK > BASEBALL

Notices

BASEBALL Post your Baseball Cards Hobby Talk

Reply
 
Thread Tools Display Modes
Old 02-12-2022, 08:01 PM   #126
fabiani12333
Member
 
Join Date: Jan 2017
Posts: 11,013
Default

All these comments are interesting and insightful. But at the end of the day, NFT trading cards will be successful if they make people money and if Fanatics and other NFT publishers are willing to artificially support the market.

And as others have pointed out, NFTs are used to launder money. I'd imagine money laundering in the digital age is big business.

I also wonder how the expected interest rate increases this year will impact NFTs and the trading card industry.
fabiani12333 is online now   Reply With Quote
Old 02-12-2022, 08:06 PM   #127
pewe
Member
 
Join Date: Sep 2018
Posts: 26,641
Default A 1/1 Mickey Mantle 1952 Topps NFT on the way ... thoughts?

Quote:
Originally Posted by ninjacookies View Post
Bitcoin is a store of value and dollar hedge in the same way gold and silver are.

It's also a hell of a lot easier and quicker to move than any physical asset (including cash/bullion) across borders and p2p transactions.

Now try sending a 500k money order to a family member in europe and tell me what kind of hoops you both have to jump through in the process, nevermind the possibility that your bank may not even allow it.

People are getting tired of having constraints put on the money they work hard to earn. They're also tired of inflationary measures that continue to reduce the spending power of the fiat they've accumulated.

TL;DR: BTC will continue dominating the USD for the foreseeable future 'cuz gubments are dumb. Supply ---> Demand.

Wiring money from a US bank to a European bank works seamlessly… thousands of people and companies move $500k or more every day across US borders. And into other currencies. And the transaction cost is generally less (and price of execution more predictable) than using an intermediary like crypto.

Now it is true that crypto is useful for people trying to ensure privacy / non-transparency on international transfers and avoiding banking / regulatory system visibility. The legitimate use cases around that in a country like the US for US persons are more difficult to pinpoint, and the abuses concerning to consider. But certainly there are some other countries who do not enjoy the benefits we are constitutionally afforded that wish to have freedoms we often take for granted, and I could imagine being understandable.


Sent from my iPhone using Tapatalk

Last edited by pewe; 02-12-2022 at 08:09 PM.
pewe is offline   Reply With Quote
Old 02-12-2022, 08:16 PM   #128
SaveMeTheGum
Member
 
SaveMeTheGum's Avatar
 
Join Date: Oct 2011
Location: NH --> CA --> SC
Posts: 16,136
Default

NFT's are still a thing?
__________________
Pay fast. Ship fast. Deal with people honestly.

IG: CardboardDynamite
SaveMeTheGum is online now   Reply With Quote
Old 02-12-2022, 08:24 PM   #129
ninjacookies
Member
 
ninjacookies's Avatar
 
Join Date: Jan 2011
Location: All the girls see the (boi)/ Look at his flips / Look at his kards / All they say is (oh boi).
Posts: 56,375
Default

Quote:
Originally Posted by pewe View Post
Wiring money from a US bank to a European bank works seamlessly… thousands of people and companies move $500k or more every day across US borders. And into other currencies. And the transaction cost is generally less (and price of execution more predictable) than using an intermediary like crypto.

Now it is true that crypto is useful for people trying to ensure privacy / non-transparency on international transfers and avoiding banking / regulatory system visibility. The legitimate use cases around that in a country like the US for US persons are more difficult to pinpoint, and the abuses concerning to consider. But certainly there are some other countries who do not enjoy the benefits we are constitutionally afforded that wish to have freedoms we often take for granted, and I could imagine being understandable.


Sent from my iPhone using Tapatalk
You're not going to be able to send over 100k through most institutions unless you're registered as a business without providing a bevy of requested documentation beforehand...even if you have more than enough money in your account. Mostly because of the new anti-laundering/terrorism laws.

Also, an international wire can take up to a week to process.

BTC's current transaction fees are at an all-time low. You can literally send a billion dollars worth of btc to a friend in Japan for less than $2...which is probably 1/20th the cost if you could somehow convince Wells Fargo to do the same. And it will be in his possession within 15 minutes thanks to the lightning network.


I can understand the black cloud and perception around bitcoin and its dubious uses. But I assure you just as many people have been using physical fiat in nefarious ways involving laundering schemes and to circumvent watchful IRS eyes.
__________________
#5 world ranked Ledell Eackles superclection as recognized by Tuff Stuff junior managing editor, Barry McCaulkinner.
Somethin' like a cross between Teddy Aguhob and Kaboom Mystery Packs. I got that Givenchy denim flow.

Last edited by ninjacookies; 02-12-2022 at 08:26 PM.
ninjacookies is offline   Reply With Quote
Old 02-12-2022, 09:03 PM   #130
monkeymcgee
Member
 
monkeymcgee's Avatar
 
Join Date: Apr 2010
Location: VA
Posts: 10,974
Default

Quote:
Originally Posted by ninjacookies View Post
I can understand the black cloud and perception around bitcoin and its dubious uses. But I assure you just as many people have been using physical fiat in nefarious ways involving laundering schemes and to circumvent watchful IRS eyes.
I think this is a very overlooked point when dumping on crypto. In addition to fiat, cards--including the holy vintage slabs--are used for schemes and laundering.
monkeymcgee is offline   Reply With Quote
Old 02-12-2022, 09:08 PM   #131
ninjacookies
Member
 
ninjacookies's Avatar
 
Join Date: Jan 2011
Location: All the girls see the (boi)/ Look at his flips / Look at his kards / All they say is (oh boi).
Posts: 56,375
Default

Quote:
Originally Posted by monkeymcgee View Post
I think this is a very overlooked point when dumping on crypto. In addition to fiat, cards--including the holy vintage slabs--are used for schemes and laundering.
Funny, a lot of these recent 'high end' sales on grails definitely smell of laundering schemes, indeed. Especially when you take a look at the IG profiles and histories of the people involved.

Then again, I think btc has just become the easy target...especially from people that refuse to learn or read into it. It's far easier to toss out a scam label then to delve into the fundamental principles and utilities of a relatively new tech.
__________________
#5 world ranked Ledell Eackles superclection as recognized by Tuff Stuff junior managing editor, Barry McCaulkinner.
Somethin' like a cross between Teddy Aguhob and Kaboom Mystery Packs. I got that Givenchy denim flow.
ninjacookies is offline   Reply With Quote
Old 02-12-2022, 09:11 PM   #132
pewe
Member
 
Join Date: Sep 2018
Posts: 26,641
Default A 1/1 Mickey Mantle 1952 Topps NFT on the way ... thoughts?

Quote:
Originally Posted by ninjacookies View Post
You're not going to be able to send over 100k through most institutions unless you're registered as a business without providing a bevy of requested documentation beforehand...even if you have more than enough money in your account. Mostly because of the new anti-laundering/terrorism laws.

Also, an international wire can take up to a week to process.

BTC's current transaction fees are at an all-time low. You can literally send a billion dollars worth of btc to a friend in Japan for less than $2...which is probably 1/20th the cost if you could somehow convince Wells Fargo to do the same. And it will be in his possession within 15 minutes thanks to the lightning network.


I can understand the black cloud and perception around bitcoin and its dubious uses. But I assure you just as many people have been using physical fiat in nefarious ways involving laundering schemes and to circumvent watchful IRS eyes.



I will amend a couple things, as you are shedding appropriate light on them:

You have to have an existing bank account set up with wiring limits to enable this, and you probably have a custody plan in place that the bank follows, for security. These are non-standard consumer accounts as they will work beyond FDIC limits.

Execution time is tunable… you probably pay more for near instant vs. T+2 settlement. And some of that is user desired, to enable fraud detection / resolution - I know folks who’ve had $$ stolen when they had immediate settlement set up and someone convinced an accountant to transfer $$. $MM was lost.

All of the above occurs for folks I know with LOTS of BTC. Honestly, they tell me they sweat custodial issues more than anything.

I was assuming you were transferring from USD fiat to BTC to EUR fiat in the example. That’s where trading and execution costs can pile up. Although at $500k it’s probably modest on the best execution risk. My understanding is it’s when you start moving float beyond market liquidity on BTC that you have issues. This is why OTC markets exist and folks like Circle make $$ - true institutional grade trading platforms and prime brokerage I think still don’t really exist. And the modest liquidity means you quickly pound through bid/ask levels without a smart order router and algo to dribble out the trade to limit moving the market. Again, this is an issue at probably 100 BTC or more (based on a bit dated experience) - I’d have to check w/my buddy who deals with this to know the current.


Sent from my iPhone using Tapatalk
pewe is offline   Reply With Quote
Old 02-12-2022, 09:13 PM   #133
pewe
Member
 
Join Date: Sep 2018
Posts: 26,641
Default

Quote:
Originally Posted by monkeymcgee View Post
I think this is a very overlooked point when dumping on crypto. In addition to fiat, cards--including the holy vintage slabs--are used for schemes and laundering.

Totally: collectibles are a HUGE issue, particularly art and artifacts. It’s why all the auction houses have to comply with KYC/AML.


Sent from my iPhone using Tapatalk
pewe is offline   Reply With Quote
Old 02-12-2022, 09:14 PM   #134
oldgoldy97
Member
 
oldgoldy97's Avatar
 
Join Date: Jan 2009
Posts: 49,171
Default

Gold isn’t limited but digital money is?

WTF am I reading?
oldgoldy97 is online now   Reply With Quote
Old 02-12-2022, 09:16 PM   #135
js0000001
Member
 
Join Date: Apr 2010
Location: 11205
Posts: 1,520
Default

Crypto is like the dollar and God.

Only real if you think it’s real

��
js0000001 is offline   Reply With Quote
Old 02-12-2022, 10:19 PM   #136
ninjacookies
Member
 
ninjacookies's Avatar
 
Join Date: Jan 2011
Location: All the girls see the (boi)/ Look at his flips / Look at his kards / All they say is (oh boi).
Posts: 56,375
Default

Quote:
Originally Posted by pewe View Post
I will amend a couple things, as you are shedding appropriate light on them:

You have to have an existing bank account set up with wiring limits to enable this, and you probably have a custody plan in place that the bank follows, for security. These are non-standard consumer accounts as they will work beyond FDIC limits.

Execution time is tunable… you probably pay more for near instant vs. T+2 settlement. And some of that is user desired, to enable fraud detection / resolution - I know folks who’ve had $$ stolen when they had immediate settlement set up and someone convinced an accountant to transfer $$. $MM was lost.

All of the above occurs for folks I know with LOTS of BTC. Honestly, they tell me they sweat custodial issues more than anything.

I was assuming you were transferring from USD fiat to BTC to EUR fiat in the example. That’s where trading and execution costs can pile up. Although at $500k it’s probably modest on the best execution risk. My understanding is it’s when you start moving float beyond market liquidity on BTC that you have issues. This is why OTC markets exist and folks like Circle make $$ - true institutional grade trading platforms and prime brokerage I think still don’t really exist. And the modest liquidity means you quickly pound through bid/ask levels without a smart order router and algo to dribble out the trade to limit moving the market. Again, this is an issue at probably 100 BTC or more (based on a bit dated experience) - I’d have to check w/my buddy who deals with this to know the current.


Sent from my iPhone using Tapatalk
Good info, and you're certainly well versed in these issues. Bitcoin definitely has its caveats, mostly when attempting to actually cash out to other currencies or fiat. Thankfully more and more institutions have began accepting it, as its mainstream adoption continues to grow. Crypto ATM's are also sprouting up through almost every major city in America as well. It will always require a certain amount of technical knowledge to use it, and there's no getting around it. But for an independently created tech with virtually zero initial financial backing that's less than 2 decades old, I'd say it's quite impressive to see where it's at and headed.

Keeping BTC requires a huge amount of vigilance. Because hardware inevitably fails. You have to keep backups, and backups or backups....because insurance and reversals in this space are foreign terminology. I'd say that's the biggest drawback, hence why crypto theft scams continue to run rampant.

It's definitely not for everybody. But I think a lot more people would change their tune if they listened with an open mind. Especially when they contrast it against the history of global economies and unscrupulous monetary measures set in place by the very people we entrust to have our best interests in mind.
__________________
#5 world ranked Ledell Eackles superclection as recognized by Tuff Stuff junior managing editor, Barry McCaulkinner.
Somethin' like a cross between Teddy Aguhob and Kaboom Mystery Packs. I got that Givenchy denim flow.

Last edited by ninjacookies; 02-12-2022 at 10:21 PM.
ninjacookies is offline   Reply With Quote
Old 02-13-2022, 11:01 AM   #137
3rdpedal
Member
 
3rdpedal's Avatar
 
Join Date: Jun 2019
Location: Pittsburgh PA
Posts: 947
Default

Quote:
Originally Posted by ninjacookies View Post
Good info, and you're certainly well versed in these issues. Bitcoin definitely has its caveats, mostly when attempting to actually cash out to other currencies or fiat. Thankfully more and more institutions have began accepting it, as its mainstream adoption continues to grow. Crypto ATM's are also sprouting up through almost every major city in America as well. It will always require a certain amount of technical knowledge to use it, and there's no getting around it. But for an independently created tech with virtually zero initial financial backing that's less than 2 decades old, I'd say it's quite impressive to see where it's at and headed.

Keeping BTC requires a huge amount of vigilance. Because hardware inevitably fails. You have to keep backups, and backups or backups....because insurance and reversals in this space are foreign terminology. I'd say that's the biggest drawback, hence why crypto theft scams continue to run rampant.

It's definitely not for everybody. But I think a lot more people would change their tune if they listened with an open mind. Especially when they contrast it against the history of global economies and unscrupulous monetary measures set in place by the very people we entrust to have our best interests in mind.
Really enjoying this conversation and various view points.

I live in a town of ~8,000 people and our grocery store recently installed a BTC ATM. There are still some technical hurdles, but those are getting smaller. There are a ton of apps (again, you'll see them in 6+ SB commercials today) that you can use to buy crypto just like ETrade/Vanguard/other brokerages.

The internet wasn't for everyone in 1999, because there wasn't mass utility and there were technical hurdles that prevented mass adoption. That's why I think it's a good analogy for where we are in the web3 space.

Another thing I keep using in conversations with my friends on the topic.... How many of you can explain how the internet works? Like, go into the weeds on TCP/IP or WiFi? Even if you can explain the basics of the basics, most can't go further than that. Yet we use it for EVERYTHING and most have understood that it's not necessary to understand how everything works to know it enables/enabled great change in our society over the last 30ish years.

I think it's great to be skeptical, and question the future utility/value of these web3 projects. Those of us who are believers may be completely wrong too. But as ninjacookies has said, I suggest having an open mind even if you don't fully "get it". My best friends don't "get" why a Trout BC Auto is worth what it is, but that doesn't change that the market has decided it's super valuable.
__________________
Ask me about my COMC Sales & Flipping Visualization Tool. PM me for the link.
Looking for 2019 Topps S1 #48 PNC Park Platinum 1/1 & Printing plates & 2019 Update Cole Tucker Parallels
3rdpedal is offline   Reply With Quote
Old 02-13-2022, 12:13 PM   #138
kon jelly
Member
 
Join Date: May 2021
Posts: 953
Default

Just make sure you get out of Crypto before quantum computing makes any serious breakthroughs. Estimates are that as early as 2029 we'll be able to use Shor's algorithm to break the encryption used for crypto wallets and there will be an estimated 4.6 million Bitcoins up for grabs. I'd hate to be holding any Bitcoin then!
__________________
LF: 2018 Topps Chrome #72 Ozzie Albies Red & Red Wave
https://myslabs.to/konjelly

Always open to offers on COMC
kon jelly is offline   Reply With Quote
Old 02-13-2022, 12:18 PM   #139
rms13
Member
 
Join Date: Mar 2021
Location: California
Posts: 7,040
Default

Quote:
Originally Posted by 3rdpedal View Post
Really enjoying this conversation and various view points.

I live in a town of ~8,000 people and our grocery store recently installed a BTC ATM. There are still some technical hurdles, but those are getting smaller. There are a ton of apps (again, you'll see them in 6+ SB commercials today) that you can use to buy crypto just like ETrade/Vanguard/other brokerages.

The internet wasn't for everyone in 1999, because there wasn't mass utility and there were technical hurdles that prevented mass adoption. That's why I think it's a good analogy for where we are in the web3 space.

Another thing I keep using in conversations with my friends on the topic.... How many of you can explain how the internet works? Like, go into the weeds on TCP/IP or WiFi? Even if you can explain the basics of the basics, most can't go further than that. Yet we use it for EVERYTHING and most have understood that it's not necessary to understand how everything works to know it enables/enabled great change in our society over the last 30ish years.

I think it's great to be skeptical, and question the future utility/value of these web3 projects. Those of us who are believers may be completely wrong too. But as ninjacookies has said, I suggest having an open mind even if you don't fully "get it". My best friends don't "get" why a Trout BC Auto is worth what it is, but that doesn't change that the market has decided it's super valuable.
Yes good points. Not for everyone but eventually it will. The biggest financial institutions and countries are investing in crypto and block chain technology. Citi, Chase, Barclays, Goldman Sachs, ING, Morgan Stanley and others all are holding significant amounts of Bitcoin now. Big brokerage houses like TD Ameritrade offer Bitcoin futures trading, there are ETFs that hold BTC and ETH and many fortune 500 companies own significant amounts of BTC. Most of major countries including the U.S. are working on digital currency that will live on blockchains to replace paper currency. Paypal, Venmo and Square all let you buy and sell crypto. Many exchanges are launching Visa/MC this year that will let you pay for things with crypto from your account and convert it to native currency on the fly. I read an article the other day about how top talent is now leaving current tech giants like Google, Amazon, Facebook etc to work in the crypto/metaverse/web 3.0 space because that is where the future of technology is. People can remain skeptical but the biggest industries, financial institutions and countries are all bought in at this point so this isn't going anywhere and it will be part of everyone's life eventually.
rms13 is offline   Reply With Quote
Old 02-13-2022, 08:03 PM   #140
ninjacookies
Member
 
ninjacookies's Avatar
 
Join Date: Jan 2011
Location: All the girls see the (boi)/ Look at his flips / Look at his kards / All they say is (oh boi).
Posts: 56,375
Default

Quote:
Originally Posted by 3rdpedal View Post
Really enjoying this conversation and various view points.

I live in a town of ~8,000 people and our grocery store recently installed a BTC ATM. There are still some technical hurdles, but those are getting smaller. There are a ton of apps (again, you'll see them in 6+ SB commercials today) that you can use to buy crypto just like ETrade/Vanguard/other brokerages.

The internet wasn't for everyone in 1999, because there wasn't mass utility and there were technical hurdles that prevented mass adoption. That's why I think it's a good analogy for where we are in the web3 space.

Another thing I keep using in conversations with my friends on the topic.... How many of you can explain how the internet works? Like, go into the weeds on TCP/IP or WiFi? Even if you can explain the basics of the basics, most can't go further than that. Yet we use it for EVERYTHING and most have understood that it's not necessary to understand how everything works to know it enables/enabled great change in our society over the last 30ish years.

I think it's great to be skeptical, and question the future utility/value of these web3 projects. Those of us who are believers may be completely wrong too. But as ninjacookies has said, I suggest having an open mind even if you don't fully "get it". My best friends don't "get" why a Trout BC Auto is worth what it is, but that doesn't change that the market has decided it's super valuable.

You said it better than I ever could have.

Perfectly stated. Bitcoin/crypto tech is here and here to stay.



Quote:
Originally Posted by kon jelly View Post
Just make sure you get out of Crypto before quantum computing makes any serious breakthroughs. Estimates are that as early as 2029 we'll be able to use Shor's algorithm to break the encryption used for crypto wallets and there will be an estimated 4.6 million Bitcoins up for grabs. I'd hate to be holding any Bitcoin then!

Only a quarter of the bitcoins would be susceptible to future quantum threats. However, everyone is and has been well aware of the possible ramifications of quibits, and I suspect they're already in the process of discussing a fork to migrate to a quantum-proof algo.
__________________
#5 world ranked Ledell Eackles superclection as recognized by Tuff Stuff junior managing editor, Barry McCaulkinner.
Somethin' like a cross between Teddy Aguhob and Kaboom Mystery Packs. I got that Givenchy denim flow.
ninjacookies is offline   Reply With Quote
Old 02-13-2022, 09:49 PM   #141
pewe
Member
 
Join Date: Sep 2018
Posts: 26,641
Default

Quote:
Originally Posted by kon jelly View Post
Just make sure you get out of Crypto before quantum computing makes any serious breakthroughs. Estimates are that as early as 2029 we'll be able to use Shor's algorithm to break the encryption used for crypto wallets and there will be an estimated 4.6 million Bitcoins up for grabs. I'd hate to be holding any Bitcoin then!

Cryptography has been preparing for quantum supremacy for more than a decade (might be two or more, I’d have to ask friends). The ability to defend against quantum hacks of wallets won’t be a significant threat, as far as I understand what my expert friends have told me. As long as you utilize wallets that have been hardened for these attacks.


Sent from my iPhone using Tapatalk
pewe is offline   Reply With Quote
Old 02-13-2022, 09:53 PM   #142
pewe
Member
 
Join Date: Sep 2018
Posts: 26,641
Default

Quote:
Originally Posted by ninjacookies View Post
You said it better than I ever could have.

Perfectly stated. Bitcoin/crypto tech is here and here to stay.
As you can probably tell I’m a fan of a bunch of crypto, block chain, NFT, etc. tech.

But I do remain concerned with the future viability of Bitcoin specifically. And for one key reason: the global focus on reducing carbon footprint. I worry it’s architecture presents an intractable problem relative to global political and social desires to limit energy consumption. And aggressive countries (like China and Europe) will take / already are taking steps to limit the domestic participation. Over time more countries are likely to chose the easy carbon reduction by shutting off support for BTC.


Sent from my iPhone using Tapatalk
pewe is offline   Reply With Quote
Old 02-13-2022, 10:07 PM   #143
oldgoldy97
Member
 
oldgoldy97's Avatar
 
Join Date: Jan 2009
Posts: 49,171
Default

As long as Russians have computers, no cyber anything is safe.
oldgoldy97 is online now   Reply With Quote
Old 02-13-2022, 10:13 PM   #144
ninjacookies
Member
 
ninjacookies's Avatar
 
Join Date: Jan 2011
Location: All the girls see the (boi)/ Look at his flips / Look at his kards / All they say is (oh boi).
Posts: 56,375
Default

Quote:
Originally Posted by pewe View Post
As you can probably tell I’m a fan of a bunch of crypto, block chain, NFT, etc. tech.

But I do remain concerned with the future viability of Bitcoin specifically. And for one key reason: the global focus on reducing carbon footprint. I worry it’s architecture presents an intractable problem relative to global political and social desires to limit energy consumption. And aggressive countries (like China and Europe) will take / already are taking steps to limit the domestic participation. Over time more countries are likely to chose the easy carbon reduction by shutting off support for BTC.


Sent from my iPhone using Tapatalk
One of the pitfalls of a distributed network. Impossible to police anyone and everyone securing it, since they span virtually every crevice of the globe. I could see this being a genuine concern in terms of future taxation increases. But you simply can't stop it on a grand scale. China's threatened countless times, yet their citizens continue finding ways to circumvent the system. I mean, over 1/5th of all btc mined still reside there despite the CCP's efforts.
__________________
#5 world ranked Ledell Eackles superclection as recognized by Tuff Stuff junior managing editor, Barry McCaulkinner.
Somethin' like a cross between Teddy Aguhob and Kaboom Mystery Packs. I got that Givenchy denim flow.
ninjacookies is offline   Reply With Quote
Old 02-13-2022, 10:20 PM   #145
GrahamMoonlight
Member
 
GrahamMoonlight's Avatar
 
Join Date: Jan 2022
Location: Scituate, RI
Posts: 263
Default

Quote:
I can understand the black cloud and perception around bitcoin and its dubious uses. But I assure you just as many people have been using physical fiat in nefarious ways involving laundering schemes and to circumvent watchful IRS eyes.
The black cloud is the fact that people are making money on these transactions and not paying taxes. That fact is what the serious crypto investors love to brag about.

Trust me, the IRS will catch up to you if you're profiting from crypto transactions. If they can't find a way, they will regulate it to death or ban it completely.
GrahamMoonlight is offline   Reply With Quote
Old 02-13-2022, 10:24 PM   #146
monkeymcgee
Member
 
monkeymcgee's Avatar
 
Join Date: Apr 2010
Location: VA
Posts: 10,974
Default

Quote:
Originally Posted by GrahamMoonlight View Post
The black cloud is the fact that people are making money on these transactions and not paying taxes. That fact is what the serious crypto investors love to brag about.

Trust me, the IRS will catch up to you if you're profiting from crypto transactions. If they can't find a way, they will regulate it to death or ban it completely.
Which is why you report your proceeds and there are a number of services out there to help you do that. Anyone with a brain and sizable profits realizes that. But you only have to pay at a taxable event, so perhaps that's what your serious crypto investors are really bragging about.
monkeymcgee is offline   Reply With Quote
Old 02-13-2022, 10:28 PM   #147
pewe
Member
 
Join Date: Sep 2018
Posts: 26,641
Default

Quote:
Originally Posted by ninjacookies View Post
One of the pitfalls of a distributed network. Impossible to police anyone and everyone securing it, since they span virtually every crevice of the globe. I could see this being a genuine concern in terms of future taxation increases. But you simply can't stop it on a grand scale. China's threatened countless times, yet their citizens continue finding ways to circumvent the system. I mean, over 1/5th of all btc mined still reside there despite the CCP's efforts.

I won’t try to predict how regulation / crack down by western countries would be practically executed… but I’ve got some hunches at potential actions, and it feels like it could lead to material switching.


Sent from my iPhone using Tapatalk
pewe is offline   Reply With Quote
Old 02-13-2022, 11:27 PM   #148
ninjacookies
Member
 
ninjacookies's Avatar
 
Join Date: Jan 2011
Location: All the girls see the (boi)/ Look at his flips / Look at his kards / All they say is (oh boi).
Posts: 56,375
Default

Quote:
Originally Posted by pewe View Post
I won’t try to predict how regulation / crack down by western countries would be practically executed… but I’ve got some hunches at potential actions, and it feels like it could lead to material switching.


Sent from my iPhone using Tapatalk
I just find it hard to believe these large corporations have dumped millions/billions into btc infrastructure without weighing future environmental concerns, which have existed since the middle of last decade.

Not sure myself how this will all play out. But I just can't see btc and its players folding and going home, either.
__________________
#5 world ranked Ledell Eackles superclection as recognized by Tuff Stuff junior managing editor, Barry McCaulkinner.
Somethin' like a cross between Teddy Aguhob and Kaboom Mystery Packs. I got that Givenchy denim flow.
ninjacookies is offline   Reply With Quote
Old 02-13-2022, 11:35 PM   #149
pewe
Member
 
Join Date: Sep 2018
Posts: 26,641
Default

Quote:
Originally Posted by ninjacookies View Post
I just find it hard to believe these large corporations have dumped millions/billions into btc infrastructure without weighing future environmental concerns, which have existed since the middle of last decade.

Not sure myself how this will all play out. But I just can't see btc and its players folding and going home, either.

I’m right there with you, particularly because of the green pledges US/Euro banks are making, investment managers are making, LPs are emphasizing, etc… yet they continue to underwrite BTC.

Something has to break… I’m just not clear what it is and how it happens


Sent from my iPhone using Tapatalk
pewe is offline   Reply With Quote
Old 02-13-2022, 11:54 PM   #150
ninjacookies
Member
 
ninjacookies's Avatar
 
Join Date: Jan 2011
Location: All the girls see the (boi)/ Look at his flips / Look at his kards / All they say is (oh boi).
Posts: 56,375
Default

Quote:
Originally Posted by pewe View Post
I’m right there with you, particularly because of the green pledges US/Euro banks are making, investment managers are making, LPs are emphasizing, etc… yet they continue to underwrite BTC.

Something has to break… I’m just not clear what it is and how it happens


Sent from my iPhone using Tapatalk
Really wish solar was more of a viable alternative for large BTC mining operations, but it simply isn't economical enough for the resources required...while maintaining profitability.

Definitely something to keep an eye on, especially with many states starting to set the blueprint for strong crackdown laws on future sales of new gas powered vehicles.
__________________
#5 world ranked Ledell Eackles superclection as recognized by Tuff Stuff junior managing editor, Barry McCaulkinner.
Somethin' like a cross between Teddy Aguhob and Kaboom Mystery Packs. I got that Givenchy denim flow.
ninjacookies is offline   Reply With Quote
Reply

Bookmarks


Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT -5. The time now is 07:23 PM.


Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2025, vBulletin Solutions Inc.
Copyright © 2019, Blowout Cards Inc.