Cyrpto-currencies anyone?

[beeza]

I have recently joined and invested in the cyrptospace and found it fascinating. An expat friend introduced it to me and since then a bunch of my expat friends have joined in

Some have experienced problems using Dominican banks to buy in on platforms such as Binance as an example. However as in most things in life, there are work arounds.

Curious to know anyone else in the DR1 community is invested in crypto and where you see the future of it?

Personally I'm mostly in ADA.

 

[johne]

I have recently joined and invested in the cyrptospace and found it fascinating. An expat friend introduced it to me and since then a bunch of my expat friends have joined in

Some have experienced problems using Dominican banks to buy in on platforms such as Binance as an example. However as in most things in life, there are work arounds.

Curious to know anyone else in the DR1 community is invested in crypto and where you see the future of it?

Personally I'm mostly in ADA.

Curious to know what you find "fascinating", and why "work around" a problem involving your money? I'm here to learn.

 

[windeguy]

Not yet. Looked into it, but did not see the attraction at the time.

 

[playacaribe2]

Here is a neutral to ever so slightly positive article outlining cryptocurrency "investing." It is written by the CEO of a website that facilitates crypto transactions. So you would expect him to be a cheerleader for crypto. He clearly is attempting to warn "investors."

What a crypto executive wishes investors knew before buying bitcoin for the first time

Make It spoke with Adam Traidman, CEO of popular crypto wallet BRD, about the biggest mistakes he sees newcomers making, as well as some tips to avoid them.

www.cnbc.com

His assessment should give pause to all those who think they can successfully "invest" in crypto currency.

With over 40 years of investing experience, I still do not see crypto's utility. Blockchain yes/Crypto no.

That having been said, I "gambled" on a momentum trade a few months ago in GBTC (a bitcoin trust) and was in and out in 3 weeks with a positive result................but to be clear.....this is not what I would consider an investment.

It is not a currency and may never be one because of its volatility and the likelihood it will never gain the acceptance it needs (Tesla/Paypal etc., notwithstanding).........it is for those who want to roll some dice and gamble and still others who use it as a clandestine payment system.

There are some Bitcoin ATM's in the DR where you can purchase it......but none that I am aware allow you to sell/deposit.

Watch a few Youtube videos on poker, then go to the casino, you likely may have better odds.


Respectfully,
Playacaribe2

 

[windeguy]

An ATM that only takes your money?

Does sound a bit like a one-armed bandit. Or is that just me?

 

[cavok]

Bitcoin is too much subject to future regulation for me. Several countries have already banned it for payments and/or banned exchanges.

 

[beeza]

I'm not talking just about Bitcoin. There are hundreds if not thousands of different coins out there. Granted, Bitcoin is still seen as digital gold and I can totally see the use behind it.

I agree with many who see the future of such a concept. I believe that crypto will do to banks what email did to the post office. The volatility is there for sure. But I've yet to meet someone who lost their shirt investing in crypto. As you would with a casino, only invest what you can afford to loose.

Some countries have tried to ban it, but you would have to shut down the internet for that to happen. Some countries are trying to regulate it, which is actually a good thing as it brings recognition. Some countries are now actually accepting it as legal tender. El Salvador for instance, announced it today.

My friend who has an account with Santa Cruz has experienced problems trying to purchase on the platform Binance. He eventually found out that it is against BSC policy to allow crypto purchases using their cards.

 

[johne]

1. Isn't Binance banned in the USA?
2. How many complaints have been filed against them for fraud?
3. Isn't it ironic in order for a US citizen to file a complaint against them one must file with the SEC. LOL. Most are trying to hide and launder BUT when things so south you need to expose yourself. What's wrong with that picture?

Only questions... I would like to learn.
TIA.

 

[cavok]

Bitcoin could never be completely banned, but it could and has been banned as a method of payment and exchange houses can be banned.

 

[johne]

I'm not talking just about Bitcoin. There are hundreds if not thousands of different coins out there. Granted, Bitcoin is still seen as digital gold and I can totally see the use behind it.

I agree with many who see the future of such a concept. I believe that crypto will do to banks what email did to the post office. The volatility is there for sure. But I've yet to meet someone who lost their shirt investing in crypto. As you would with a casino, only invest what you can afford to loose.

Some countries have tried to ban it, but you would have to shut down the internet for that to happen. Some countries are trying to regulate it, which is actually a good thing as it brings recognition. Some countries are now actually accepting it as legal tender. El Salvador for instance, announced it today.

My friend who has an account with Santa Cruz has experienced problems trying to purchase on the platform Binance. He eventually found out that it is against BSC policy to allow crypto purchases using their cards.

Shut down the internet ? Oh my...you really have bought into the game. Do you really want an audit if things go bust and you try to recover your money? Magic words: DR,money launder, accusations of fraud, (I think) registered in Cayman Islands, SEC investigating. I 'm not comfortable with the words to that song.

 

[beeza]

1. Isn't Binance banned in the USA?
2. How many complaints have been filed against them for fraud?
3. Isn't it ironic in order for a US citizen to file a complaint against them one must file with the SEC. LOL. Most are trying to hide and launder BUT when things so south you need to expose yourself. What's wrong with that picture?

Only questions... I would like to learn.
TIA.

1, no it’s not. But they do have their own Binance USA platform. I occasionally run into problems because I have a US IP address with my internet subscription. I need to use a VPN or switch to Altice to buy with my card. As soon as Binance discovers I’m using my US IP it rejects my purchase and tells me to sign up on their dedicated US platform.
2. I don’t know.
3. I don’t care I’m not a US citizen.

 

[johne]

Ah. OK. Good luck,

 

[Gadfly]

The major companies that accept Bitcoin and other cryptos as payment

An increasing number of companies - including Starbucks and PayPal - are accepting cryptos. Here's where you can spend your Bitcoin.

www.euronews.com

 

[Auryn]

My husband and his brother are both into this. Here in Canada, Scotiabank told my husband not to use his Visa to purchase crypto or they would close his account. He used another card to purchase. He invested like $100 in January that is now at $600, we just checked how it was doing a couple of days ago.

His brother located in the DR uses a Chase CC based in the US for his purchases. He started investing in it in November/ December of 2020. He has invested more $ into the different currencies and is really into it.

 

[mobrouser]

"Dread that fills you with horror." That's how a customer named QCX-INT described his reaction to the collapse two years ago of QuadrigaCX, Canada's largest cryptocurrency exchange, where he had upwards of six figures in cash tied up.

It was the end of January 2019, and QuadrigaCX had just filed for creditor protection in the Supreme Court of Nova Scotia. The announcement followed news that Gerald Cotten, the company's 30-year-old CEO, had reportedly died under peculiar circumstances the month before, while on his honeymoon in India......

https://newsinteractives.cbc.ca/longform/bitcoin-gerald-cotten-quadriga-cx-death

 

[drisforme]

Bit more than 3 years ago , I gambled in 2 currencies ,Bitcoin and Ethereum using the Coinbase platform.
We are not talking about big money .Whatever $ I invested,I got it back and left the remaining. So far ,I am doing well. I don't really know why I am doing well but I am...

Will see what the future brings...

 

[james4u]

Bitcoin is too much subject to future regulation for me. Several countries have already banned it for payments and/or banned exchanges.

Bitcoin cannot be regulated, that is the whole point of its creation.

 

[james4u]

I have recently joined and invested in the cyrptospace and found it fascinating. An expat friend introduced it to me and since then a bunch of my expat friends have joined in

Some have experienced problems using Dominican banks to buy in on platforms such as Binance as an example. However as in most things in life, there are work arounds.

Curious to know anyone else in the DR1 community is invested in crypto and where you see the future of it?

Personally I'm mostly in ADA.

Crypto is the future, I have my eyes on Defi and hopefully the banks do as well or they will be to banking as Blockbuster was to Netflix in entertainment.

1. Use localbitcoins to buy BTC in the country
2. and use kraken to withdraw your Profits to your local bank here in the country

I am highly experienced in crypto and have been in BTC since it was worth 1200 per coin.

 

[Liberator]

Buy cryptos if you:
Believes in fairy tales
Really don't know what to do with your savings anymore
Have a colleague/friend who says he knows all about it (not so)
See Elon Musk as your personal crypto guide
Think the big money can be earned for you too (not so)

Footnote:
I am also 'in the cryptos', but have not been able to discover any logic since 2017. It's all about emotion and greed......
I've known the BTC since it was still worth US$400 and then had a big laugh when a colleague yelled, man.... they are really worth thousands of $! Step in!!

Gains of 40% quickly booked, but also losses of 60%. Especially when it comes to Altcoins. BTC will rise but who has $35K to buy 1? I'm already happy to buy a big Presidente
Look before you start

 

[cavok]

Bitcoin cannot be regulated, that is the whole point of its creation.

Bitcoin itself can't be banned, but it's use in financial transactions can and has been. Exchange houses, too:

Countries that have banned Bitcoin

There are still some countries that see cryptocurrencies and Bitcoin as a threat to their economy. Here’s a list of countries that have banned Bitcoin

www.escapeartist.com

Bitcoin falls further as China cracks down on crypto-currencies

The price of Bitcoin fell below $34,000 for the first time in three months after China imposed fresh curbs.

www.bbc.com