JoeWeber 2,720 #1 Posted March 23, 2021 (edited) I was reminded of this on Bloomberg this morning. The Bahamas already have one called the Sand Dollar. How cool is that? Edited March 23, 2021 by JoeWeber Quote Share this post Link to post Share on other sites
wmw999 2,447 #2 March 23, 2021 It's interesting; it'll be a long time coming, but until we have completely available technology to deal with digital currency, will it end up being yet another dividing line between have and have-not? Or yet another way to raise the minimum price for participating in the economy? Kind of like the EBT cards that were "given" to people that have high reload fees. Wendy P. Quote Share this post Link to post Share on other sites
ryoder 1,590 #3 March 23, 2021 Our financial system has been digital since 1972: https://en.wikipedia.org/wiki/Automated_clearing_house And we have had a digital currency since Diners Club began issuing credit cards in 1950. Quote Share this post Link to post Share on other sites
RonD1120 62 #4 March 23, 2021 (edited) My son-in-law, a programmer, set up his own mining operation at home. It has been running 24/7 for about two years. He will not disclose how much he has mined. He drives a Tesla and voted for President Trump. Edited March 23, 2021 by RonD1120 Quote Share this post Link to post Share on other sites
BIGUN 1,314 #5 March 23, 2021 (edited) 1 hour ago, JoeWeber said: on Bloomberg this morning. The Bahamas already have one called the Sand Dollar. How cool is that? I have been observing this digital currency for about a year now and have stuck my toe in the pond "a little" and am going to echo a bit of what Ryoder said. Here's my observation: We have been on digital currency for awhile and the venues keep growing. From credit cards, debit cards, Google Pay, PayPal, Apple Pay, Venmo, Zelle, etc. But, those are all tied to one's bank account. WRT Bitcoin, Ethereum, etc. I have my concerns. I don't see it as "legal tender," but I do think we need to look at as a type of commodity. So, I think there's a place for it, but I'm not willing to put my full faith in it yet as a real currency. Edited March 23, 2021 by BIGUN Quote Share this post Link to post Share on other sites
ryoder 1,590 #6 March 23, 2021 2 minutes ago, BIGUN said: WRT Bitcoin, Ethereum, etc. I have my concerns. I don't see it as "legal tender," but I do think we need to look at as a type of commodity. So, I think there's a place for it, but I'm not willing to put my full faith in it yet as a real currency. The two best essays I've seen on the crypto-currency here: The environment impact: Stephen Diehl - The Crypto Chernobyl The "investment" reality: Stephen Diehl - Bitcoin: The Postmodern Ponzi Quote Share this post Link to post Share on other sites
BIGUN 1,314 #7 March 23, 2021 14 minutes ago, ryoder said: two best essays I've seen on the crypto-currency here: Both interesting essays - thank you. Quote Share this post Link to post Share on other sites
Phil1111 1,149 #8 March 23, 2021 (edited) 1 hour ago, ryoder said: The two best essays I've seen on the crypto-currency here: The environment impact: Stephen Diehl - The Crypto Chernobyl The "investment" reality: Stephen Diehl - Bitcoin: The Postmodern Ponzi add this: Above from How Does Bitcoin Mining Work? So energy prices are going up, the reward from a given set of mining hardware is decreasing. All to maintain a given small set of "valued" assets. At least with gold the gold doesn't shrink every four years. Then throw in the US FED which believes monetary expansion can be endless yet still maintain a value of its currency. Edited March 23, 2021 by Phil1111 Quote Share this post Link to post Share on other sites
