Stovebolt.com Forums The Front Office The Greasy Spoon Bit coins

How can you have something that theoretically does not exist? I have tried to understand the concept but can't. Why am I bringing this up???? Well, the local taxing board was asked to have a TIF for a Bitcoin mining operation, which is a tax abatement for a specified period. By the way, it was rejected on the grounds it is already under construction. My biggest beef with the TIF is, that if I build a new home I can get a TIF but if I buy an existing home to TIF. We have an ethanol plant a few miles from me and they planned an expansion but rejected it because they are a 1/2 mile out of the TIF boundaries, guess what they moved the boundries.

Yeah, I never did understand bitcoin mininig. Apparently you set up a bunch of computers and have them suck electricity and somehow magically a bitcoin appears.

With the current Bitcoin crash, it just reinforces that a currency not backed by something (government) is just a pipe dream, founded on the idea that someone else thinks it's worth something (hopefully more than they paid for it.)

The rage about NFTs (Non-Fungible Tokens) is a scam as well. Buying the rights to a digital picture just doesn't make much sense either.

Thanks, Kevin. I thought I was the only one out of touch with progress.

Doge coin is real!!

I don't think that's "progress" Ron.

I'd like to think we're both in touch with reality.

I don't believe that the dollar is real, but then, I don't believe in time, given that it can be severely distorted by massive objects.
(Its a generational thing. Not easily grasped by most.)

Says Stovebolt's own Albert Einstein.
Yep, the only "real" dollars are silver certificates.

As with any fiat currency, bitcoin's value is demand based. More than any fiat currency it is subject to the whim of the media and rumors and discovery. And what has been overlooked (although supporters of imitation currency will try valiantly to convince you otherwise) is that any currency must be tied to something of value...that is to say something universally accepted as valuable...gold, silver, diamonds, cotton, wheat, oil, whisky, old trucks...take your pick but any unsupported currency will always fail. Even very early history has taught this over and over again. And yes, I understand many people today want to abrogate all history and create a world which eschews all prior knowledge...just the unquestionable brilliance of some young person with an imagination and a keyboard. Digital 3 Card Monty.

The other ads that I see are the ones trying to sell gold or silver as a hedge against future paper money failing.

I have talked to my investor and we have dabbled in it. His caution was don't put more I than you are willing to throw away.

I put 10k in. When it doubled I pulled my 10k out and left the rest just to see where it goes. I am letting it ride for the long term as I have no more skin in the game.

The mining involves a complex set of equations that only computers can solve. At this point I don't see that It is cost effective here in the states due to the electrical demands. You need abundant cheap middle east or China power.