Cyrpto-currencies anyone?

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james4u

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


I have clients that pay for their vacations here in Bitcoin, I onramp with fiat through local bitcoins.. they can fight it all they want. But they can't stop it.
 

cavok

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I have clients that pay for their vacations here in Bitcoin, I onramp with fiat through local bitcoins.. they can fight it all they want. But they can't stop it.
That's here - for now. They can't stop it, but they sure can make it less appealing and useful.
 

james4u

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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 :sneaky:
Look before you start
In a nutshell ... in this crypto space you have three types of people

the unbanked , the investors and the speculators:
  • The unbanked - they have been shut out of the financial system and need to transact. In this class you may also include the Argentinians, Nigerians and Venezuelans etc.... These people need cryptos to escape an oppressive financial system and with cryptos they have found salvation.
  • Investors: here you have the famous hodlers which Include Micheal Saylor, Winklevoss twins and Kevin O'Leary, amongst others... who have patience and have taken an educated decision to wait for the inevitable collapse of the dollar and take advantage of the imminent flood of people trying to onramp at the last minute.
  • Speculators: This is what I like to call the dumb money, they buy btc at 20K in 2017 and 1 day pases then they get upset the price has gone down, they then sell at 3K. Don't get me wrong I love this group as I am also a swing trader and take great gratification in taking their money. Remember in the bible it also says " A fool is soon departed from his money"
Conclusion: If you are tired of the FED legally robbing you by printing FIAT without regard then buy it and get back to me in 6-10 years.
 

cavok

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In a nutshell ... in this crypto space you have three types of people

the unbanked , the investors and the speculators:
  • The unbanked - they have been shut out of the financial system and need to transact. In this class you may also include the Argentinians, Nigerians and Venezuelans etc.... These people need cryptos to escape an oppressive financial system and with cryptos they have found salvation.
The people in the barrios will never be buying beer in the colmados with Bitcoin. Plus, their computer skills don't extend beyond WhatsApp, YouTube, and Fayboo.
  • Investors: here you have the famous hodlers which Include Micheal Saylor, Winklevoss twins and Kevin O'Leary, amongst others... who have patience and have taken an educated decision to wait for the inevitable collapse of the dollar and take advantage of the imminent flood of people trying to onramp at the last minute.
The Dollar will never collapse. The US is not Zimbabwe or the Weimar Republic. If and when TSHTF as the doomsdayer's are constantly predicting, cash will be king. No asset class will unscathed - including stocks, bonds, real estate, gold, silver, and Bitcoin.
 
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james4u

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The people in the barrios will never be buying beer in the colmados with Bitcoin. Plus, their computer skills don't extend beyond WhatsApp, YouTube, and Fayboo.

The Dollar will never collapse. The US is not Zimbabwe or the Weimar Republic. If and when TSHTF as the doomsdayer's are constantly predicting, cash will be king. No asset class will unscathed - including stocks, bonds, real estate, gold, silver, and Bitcoin.
The fact that you said "their computer skills do not extend past whatsapp" .... and proceeded to name two more platforms - is where I rest my case. I will add the fact that you missed The Banking Apps ;)

The Dollar will be replaced by digital dollar and thanks to Biden who Okayed the SDR you may be eating those words in what I would estimate to be about 6 years according to my calculations . In the words of Warren Buffet "The dollar will be ok as long as our debts are billed in dollars".
 

cavok

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The fact that you said "their computer skills do not extend past whatsapp" .... and proceeded to name two more platforms - is where I rest my case. I will add the fact that you missed The Banking Apps ;)
The reason there's those long lines at banreservas is because they don't know how to use those banking apps.
The Dollar will be replaced by digital dollar and thanks to Biden who Okayed the SDR you may be eating those words in what I would estimate to be about 6 years according to my calculations . In the words of Warren Buffet "The dollar will be ok as long as our debts are billed in dollars".
Digital Dollar - paper Dollar. What's the difference? Biden is looking at $500 billion in SDR's to help poor countries with the pandemic. He's just proposed $6 Trillion in new spending. What the US would contribute to those SDR's is a drop in the bucket.

Buffett doesn't own any Bitcoin and doesn't think it has any value:

 

CristoRey

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Apr 1, 2014
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Bitcoin could never be completely banned, but it could and has been banned as a method of payment and exchange houses can be banned.
It took Governments a few months to figure it out.
Tax and regulate the exchanges they do.
For anyone out there who thinks they are trading/ buying/ selling or converting crypto
to a fiat anonymously, I have a bridge for sale I'd like to speak with you about.

I trade alt coins. Mostly using the Ethereum Network. Some BTS Smart Chain as well.
Is there money to be made? Absolutely but it's a bit like betting the right horse.
Best example I can give is Chainlink. Hit the market at roughly 0.35 back in September 2017
and peaked at around $52.20 in May of this year. A 100 bucks in and not a bad payout.
 

Liberator

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Jan 23, 2021
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The fact that you said "their computer skills do not extend past whatsapp" .... and proceeded to name two more platforms - is where I rest my case. I will add the fact that you missed The Banking Apps ;)

The Dollar will be replaced by digital dollar and thanks to Biden who Okayed the SDR you may be eating those words in what I would estimate to be about 6 years according to my calculations . In the words of Warren Buffet "The dollar will be ok as long as our debts are billed in dollars".
Your prediction is also directly the biggest pitfall for individuals who buy cryptos with savings. They are completely short term.

Waiting 6 years requires vision, strategy and tenacity. I have some altcoins that are worth 0.000xxx and have since risen considerably in value...... that is my 'pension reserve' I dare to hold on to for 6-10 years. The risks are minimal, but there is no strategy behind it
 

johne

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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...
Would you understand the subject better if you were NOT "doing well"? That kind of "investing" is like going to a casino and betting on red or black all night..more or less the Ray Charles Method of "Investing".
 

johne

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LOL....it seems coins are not so "private and out of the hands of law enforcement" after all. The Uber-smart crooks such as Dark Side didn't escape the reach of the FBI. Everyone that wants to hide money should start thinking about buying a new mattress rather than following greed down the ugly path to ruin.
"You can only make money by hard work and understanding what YOUR business is". (Famous quotation by ...........fill in the blanks)
These are the opinions of the writer of this post and couldn't care less about someone else's money. It's yours to spend.:)
 
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windeguy

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LOL....it seems coins are not so "private and out of the hands of law enforcement" after all. The Uber-smart crooks such as Dark Side didn't escape the reach of the FBI. Everyone that wants to hide money should start thinking about buying a new mattress rather than following greed down the ugly path to ruin.
"You can only make money by hard work and understanding what YOUR business is". (Famous quotation by ...........fill in the blanks)
These are the opinions of the writer of this post and couldn't care less about someone else's money. It's yours to spend.:)
Indeed.

One has to appreciate the smugness of those who think their high tech digital currency transactions are somehow untraceable, their "digital money" is safe from thieves, it won't be taxed by governments, it is a tremendous investment etc.

Until that house of cards falls like the sham Ponzi chain of blocks that it is. Of course some people will still make good money. Those are the ones we will still hear from about how "great it is".
 
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JD Jones

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Indeed.

One has to appreciate the smugness of those who think their high tech digital currency transactions are somehow untraceable, their "digital money" is safe from thieves, it won't be taxed by governments, it is a tremendous investment etc.

Until that house of cards falls like the sham Ponzi chain of blocks that it is. Of course some people will still make good money. Those are the ones we will still hear from about how "great it is".

TBH, I'd take their bragging with a grain of salt. I know if I made a lot of money somewhere, I wouldn't be publicizing it in the slightest.
 
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Jan 9, 2004
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Perhaps one or more of the Bitcoin or cryptocurrency proponents can explain what it is and why and how it will replace other currencies or gold etc. as a real store of value.

If you cannot explain what it is and why it is a good investment.......then you need to rethink why you own cryptocurrency.....and come to the realization you really are.........just gambling.

And gambling is ok......if you are prepared to not only win.......but lose........ And has been said above, you should only gamble what you can afford to lose.

At this point without some sort of regulation.......which is counter to everything I have been told about cryptocurrency being independent of government fiat money, it really is, at least at this point, a tulip bulb, beanie babie type craze, etc., which have all ended badly for most of those who “invested.”

Respectfully,
Playacaribe2
 
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