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  • ValiantSon
    ValiantSon Posts: 2,586 Forumite
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    chucknorris wrote: »
    Investing for capital growth without income is not investing, it is merely gambling/speculating. Although I do accept that something like gold (a small percentage) might not be out of place in someone's portfolio (but not mine). That's why I don't need to know a lot about bitcoin.

    Right, so your comment had nothing to do with what I was talking about then.
  • chucknorris
    chucknorris Posts: 10,786 Forumite
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    ValiantSon wrote: »
    Right, so your comment had nothing to do with what I was talking about then.

    Sorry I mistook you for a regular poster, and I was making a general comment. I didn't realise that you had issues, good luck.
    Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop
  • ValiantSon
    ValiantSon Posts: 2,586 Forumite
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    chucknorris wrote: »
    Sorry I mistook you for a regular poster, and I was making a general comment. I didn't realise that you had issues, good luck.

    What a rude person you are!

    You quoted me and then posted something seemingly unconnected. I said that I didn't understand and your explanation made clear that it was unconnected to what I was talking about (but did involve you in bragging about your wealth). Looks like you are the one with issues.
  • chucknorris
    chucknorris Posts: 10,786 Forumite
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    edited 24 May 2018 at 9:16PM
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    ValiantSon wrote: »
    What a rude person you are!

    You quoted me and then posted something seemingly unconnected. I said that I didn't understand and your explanation made clear that it was unconnected to what I was talking about (but did involve you in bragging about your wealth). Looks like you are the one with issues.

    It wasn't unconnected! You were saying to another poster that he didn't understand about fiat currencies (it is an open forum, not a private conservation, so I wasn't butting in, even though I mentioned that, trying to be polite):
    ValiantSon wrote: »
    And you clearly know a lot less about fiat currencies than you think you do.

    I merely pointed out that I feel no need to understand them, and explained why. My later rudeness was merely in response to your rudeness:
    ValiantSon wrote: »
    Right, so your comment had nothing to do with what I was talking about then.

    I've no problem with you at all, so why don't we just go our own separate ways right now, without any unnecessary further complications? To be honest, I have better things to do, which you probably also have.
    Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop
  • Malthusian
    Malthusian Posts: 10,980 Forumite
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    markj113 wrote: »
    Bitcoin was never designed to be untraceable, thats why privacy coins like monero, zcash etc. exist. which kind of goes back to my previous point of why people of little knowledge claim bitcoin is only used by criminals when every transaction is fully traceable through a public blockchain.

    Everything is public except the identity of the person at each end, which is completely anonymous unless the owner of the wallet chooses to have their identity recorded.

    Do you think that scammers like Frank Caballero are invariably found to have hardware wallets containing thousands of bitcoin because secretly they wanted to be caught?
    markj113 wrote:
    If you wish to learn more about KMD here is a link to the white paper rather than me wasting my life spoon feeding you

    There is no clearer illustration that Bitcoin enthusiasts know lots about tech and zero about finance (and know less about tech than they think) than that their reaction to extremely simple financial questions is to respond with a blizzard of techno-babble from the promoters of the scheme. They are unable to provide an answer to a very simple question because it's financial rather than tech and they don't understand it.

    If I say my tokens are going to pay 5% interest, there are only two options:

    1) Each year my tokens will be able to buy 5% more in goods and services than they did last year, which is sourced from external revenue entering the system to pay this 5% to Komodo hodlers. Komodo claims this external revenue came from transaction fees on cryptocurrency transactions which are injected into the system as per Komodo's diagram that I posted in #281. When I pointed out that transaction fees are variable and are not guaranteed to be at least 5%, you then said that contrary to Komodo's assertions it doesn't actually come from transaction fees.

    2) Each year every holder of at least 10 tokens is given 5% more tokens, but since those tokens don't represent anything of value, the issue of 5% extra Komodo tokens will reduce the amount of goods and services that each token can buy by 5%, and each holder is no better off. As was said at the beginning of this conversation, this is not a dividend but a stock split.

    You have repeatedly dodged the question of which it is.

    Mining is totally irrelevant unless someone outside the Komodo ecosystem values this mining enough to pay at least 5% of the value of Komodo into the Komodo ecosystem which can be distributed to Komodo holders, and enable them to buy 5% more goods and services than they could before the interest payment.
  • ValiantSon
    ValiantSon Posts: 2,586 Forumite
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    chucknorris wrote: »
    It wasn't unconnected! You were saying to another poster that he didn't understand about fiat currencies (it is an open forum, not a private conservation, so I wasn't butting in, even though I mentioned that, trying to be polite):



    I merely pointed out that I feel no need to understand them, and explained why. My later rudeness was merely in response to your rudeness:



    I've no problem with you at all, so why don't we just go our own separate ways right now, without any unnecessary further complications? To be honest, I have better things to do, which you probably also have.

    No, your comment was unconnected to what I was talking about as it had nothing to do with the context of the discussion.

    I wasn't rude to you; I pointed out that your comment was unrelated. That isn't rude, it is a statement of fact. You were, however, rude to me. Even if you believe that I was rude to you it is hardly a reasonable response to be rude back.
  • 4_Pete's_Sake
    4_Pete's_Sake Posts: 310 Forumite
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    Another 2018 low for Bitcoin. Many will refuse to sell in the hope that it goes back up to $19,500 again but this won't happen the party is well and truly over. The future is further new lows.
    IF THIS POST HAS BEEN HELPFUL - PLEASE CLICK ON THANKS :j
  • 4_Pete's_Sake
    4_Pete's_Sake Posts: 310 Forumite
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    markj113 wrote: »
    The 5% interest does not come from fees they are generated as part of the mining process expiring around the year 2031

    https://coincentral.com/komodo-platform-beginner-guide/


    "KMD (Komodo) token trading

    Interest

    As a KMD token holder, you receive up to 5% interest on the tokens that you hold each year. Unlike a normal Proof-of-Stake system, there is no need to keep your wallet online to get your interest. To claim your interest and reset the yearly maximum, all you need to do is transfer your tokens to another wallet address.
    The interest rewards will disappear once the entire supply of 200 million KMD are mined. The team projects that this will occur sometime in 2031."

    You are confusing the KMD token with others that were issued free to KMD holders as part of an airdrop that also pay a dividend based on exchange/coin mixer fees.


    The biggest issue with crypto is that its new and evolving fast. Unless you keep up with developments on a regular basis its easy for your knowledge to become outdated. This then leads people to make inaccurate comments which is then regurgitated by others.


    It is largely irrelevant whether Komodo pays 5% a year if its value is down by 90%.


    Komodo reached a high of $11.44 on 24/12/2017.
    It is now $1.58 having fallen a further $24.3% today.
    So if you invested 10k on 24/12/2017 and you are going to get 5% of the average price during the year it will probably equate to less than 1% interest plus your capital investment is now only worth about 1k. Most Crypto fans have rose tinted glasses and just cannot see that their bubble has burst.
    IF THIS POST HAS BEEN HELPFUL - PLEASE CLICK ON THANKS :j
  • parking_question_chap
    parking_question_chap Posts: 2,694 Forumite
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    4_Pete's_Sake wrote: »
    Most Crypto fans have rose tinted glasses and just cannot see that their bubble has burst.


    Totally agree.


    The clever people have made their money and its just the rainbow chasers left.
  • Malthusian
    Malthusian Posts: 10,980 Forumite
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    Wise man say: as long as people are chasing rainbows the clever people will still make money in rainbow-chasing running shoes and anti-leprechaun spray.
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