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Buying Music With Cryptocurrency [message #95255] Thu, 17 February 2022 22:17 Go to next message
Concorde is currently offline  Concorde
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Registered: December 2013
Master
Music NFT's are gaining in popularity with fans and musicians alike because of the nature of crypto, and the fact that musicians get more money from the sale.

I really hope this gets bigger because musicians need to get paid what they're worth.
Re: Buying Music With Cryptocurrency [message #95256 is a reply to message #95255] Fri, 18 February 2022 07:40 Go to previous messageGo to next message
Rusty is currently offline  Rusty
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Location: Kansas City Missouri
Illuminati (2nd Degree)
It's a huge waste of energy for it's speculation. Musicians like the rest of us don't get their just dues because of the greedy middleman.
Re: Buying Music With Cryptocurrency [message #95263 is a reply to message #95255] Sat, 19 February 2022 16:15 Go to previous messageGo to next message
Trilling Me Softly is currently offline  Trilling Me Softly
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Registered: December 2018
Baron
I don't know enough about cryptocurrency or NFT's to jump into investing. I'd like to see bands and musicians be able to earn a livable income without resorting to raising cash through crowdfunding, but I'm not sure that this is the way to go about it.
Re: Buying Music With Cryptocurrency [message #95265 is a reply to message #95255] Sun, 20 February 2022 07:30 Go to previous messageGo to next message
Silver is currently offline  Silver
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Registered: December 2013
Viscount
This cryptocurrency is turning into a whole new economic engine. People say it's not based on anything but America has been off the gold standard for decades now. What is our current economy based on?

Numbers on a screen, both of them.
Re: Buying Music With Cryptocurrency [message #95269 is a reply to message #95265] Sun, 20 February 2022 08:59 Go to previous messageGo to next message
Rusty is currently offline  Rusty
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Crypto was and is used originally as a means of avoiding banking transactions for illicit uses. Simultaneously it was figured to be a means to do speculative gains by doing bitcoin mining with computers solving computations to harvest by reward blocks of bitcoin coming into the system giving a higher rate of return. It takes huge wasteful amounts of energy running banks of computers doing computations for this scheme.
https://www.investopedia.com/tech/how-does-bitcoin-mining-work/

The US went off the gold standard in the early 70's when the demand on the gold standard used for balance of payments was drawing too much gold out of reserves. The standard became the sovereign currency of a nation. Worldwide. The dollar floats in exchange rate with other world currency. It's the ability of a nation to be able to honor it's bond notes and it's currency hold it's worth.
You gotta wonder though what this countries economy "is" based on because we've outsourced a great deal of our industry and manufacturing over the decades. The supply chain dilemma now an example. We became a Service economy in the process of ridding our industry. And now our economy is run by Wall St., a financialized economy.

It is numbers on a screen. Except for assets like real estate. Right now even used cars.
Re: Buying Music With Cryptocurrency [message #95296 is a reply to message #95255] Thu, 24 February 2022 08:36 Go to previous messageGo to next message
Silver is currently offline  Silver
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Registered: December 2013
Viscount
So it is still a supply vs.demand vs. speculation equation in regards to knowing what the currency is based on and what it's worth. (Oil notwithstanding) A service based economy will never lead the world in anything except appearance. We may be a banana republic in terms of economy and influx of foreign capital, but damned if we don't look good doing it. Same with Crypto, essentially. It might have started out as way to keep your Silk Road activities hidden, but it's morphed into something bigger.

Big enough to make the billionares sit up and take notice.
Re: Buying Music With Cryptocurrency [message #95299 is a reply to message #95296] Thu, 24 February 2022 10:29 Go to previous messageGo to next message
Rusty is currently offline  Rusty
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One economist I really like and follow refers to crypto as Andy Warhol paintings. All show and no substance. They can speculate with it all they want. Wasteful as it is. But it will never replace a sovereign currency. As long as a sovereign country's economy is stable. Which anymore, looking a bit wobbly. Explain why our inflation is over 7 percent and China's is 0.9? Supply chain issues? What about price gouging to make up for the economic slow down. Who supplies the world with goods now and what happened with made in USA? Go back 40, 50 years to see.
Re: Buying Music With Cryptocurrency [message #95310 is a reply to message #95299] Sat, 26 February 2022 03:59 Go to previous messageGo to next message
Concorde is currently offline  Concorde
Messages: 133
Registered: December 2013
Master
Rusty wrote on Thu, 24 February 2022 10:29
One economist I really like and follow refers to crypto as Andy Warhol paintings. All show and no substance. They can speculate with it all they want. Wasteful as it is. But it will never replace a sovereign currency. As long as a sovereign country's economy is stable. Which anymore, looking a bit wobbly. Explain why our inflation is over 7 percent and China's is 0.9? Supply chain issues? What about price gouging to make up for the economic slowdown. Who supplies the world with goods now and what happened with made in USA? Go back 40, 50 years to see.
In Cryptos defense, nothing could replace a sovereign currency as long as its nation is stable. Nor should it try. Cryptocurrencies might end up being a supplement economy, though.
Re: Buying Music With Cryptocurrency [message #95311 is a reply to message #95310] Sat, 26 February 2022 06:56 Go to previous messageGo to next message
Rusty is currently offline  Rusty
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Check out El Salvador and it's Geothermal Bitcoin mining. They're into it big time.
https://apnews.com/article/cryptocurrency-technology-business-bitcoin-central-america-e0074a2343a3e3a9beb08723ff65ecf5
Re: Buying Music With Cryptocurrency [message #95312 is a reply to message #95255] Sat, 26 February 2022 08:30 Go to previous messageGo to previous message
Concorde is currently offline  Concorde
Messages: 133
Registered: December 2013
Master
That's actually uplifting. Renewable energy to make an alternate currency we can use in the real world. Go South America!

You're always a wealth of information, Rusty. Thanks for sharing.
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