Have a break, have a Chit Chat - Page 39

Originally posted by: _Angie_

Record price for "investable security" and yet an "anonymous" buyer... for security !?

That's a nice play on words :)

I don't know for what reasons a buyer would want to remain anonymous. Maybe he/she doesn't want to be known as the sucker who paid big bucks for a piece of crap? :))

BTW, I forgot to add a disclaimer in case people take the "investable security" part seriously.

https://www.forbes.com/sites/kathryntully/2012/10/05/is-art-an-asset-or-an-investment/#3b5a24e2b979

I think it is the "human" factor of demand and supply that makes things wonky.

The thing is, some of these art works have copies which look better than the originals. Yet, a buyer would pay millions more for "authenticity". And even that authenticity is nothing but a consensus among "experts". Basically, if 10 out of a total of 15 experts say "this is the original", it becomes the "original".

Stuff is supposed to have an intrinsic value; apparently, that doesn't apply here.

So, even if a 10 year old could paint better than the original that's sold for millions of dollars, till the experts opine, the 10 year old's painting is pretty much worthless at the auction.

Whereas if you take a commodity like gold, 24 carat is 24 carat all across the world. At that point, even if supply and demand takes over, we wouldn't begrudge the valuations.

so question circles back to: what exactly are you paying so much for?

Nibiru re Nibiru re
kabhi to zameen par aa
Baithenge baatein ka...BOOM!!!

Originally posted by: return_to_hades

I think it is the "human" factor of demand and supply that makes things wonky.

Some people are willing to pay for prestige, rarity, bragging rights or plain old baloney.

Birdie and Joe (a.k.a. Mr. Ass), what's your take on bitcoin?


^^


So, I posted the above on Dec 8th, and since then BTC has seen a high of $19,891 and a low of $10,718. Obviously volatile! Same goes for other cryptocurrencies such as ethereum or litecoin.

I figured, it's best to mine these currencies ourselves instead of trading, if we want a piece of the action. We would need to make a one time investment in hardware and be ready to pay for a recurring energy cost and make sure these costs do not exceed the profit potential. And yeah, a safe digital wallet that is not easily hackable.

Later!

LOL well K, I don't have the 15 thousand dollars to afford a coin right now, and in any case, I would never invest in something which did not represent an actual asset. As far as I know (very less) it's a mere speculative tool. So unless I was filthy rich and had some gambling money with me I wouldn't "invest" in it.

Originally posted by: mr.ass

LOL well K, I don't have the 15 thousand dollars to afford a coin right now, and in any case, I would never invest in something which did not represent an actual asset. As far as I know (very less) it's a mere speculative tool. So unless I was filthy rich and had some gambling money with me I wouldn't "invest" in it.

I am absolutely not advocating for any of you to buy or invest in this but this is something you should know about, keeping the future in mind. Cryptocurrencies seem to have the gravitas and look like they are here to stay.

You don't have to buy / invest in 1 whole bitcoin, you could also do it (if you wish to) in smaller units like mBTC, bits, and Satoshis; just as you don't have to buy 1 kilo bar of gold, you could also buy an ounce or a gram.

Most currencies are fiat currencies not backed by a physical commodity. Just legal tender, that's all.

P.S: don't forget about the mining part I mentioned; it's the alternative to outright buying.

Originally posted by: K.Universe.

http://www.cnn.com/style/article/da-vinci-salvator-mundi-sale-christies/index.html

$450 million dollars for a painting! Makes you question so many things in life.