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Crypto Currency

Rod

Rod

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Messages
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I've been a fan of crypto for a long time. Been watching a lot of coins. Bitcoin is at $50k now however I predict it will hit $80k or above by end of this year.

Doge has spiked from .003 cents (1/3 of a penny) to 8 cents a coin this month! Currently at around 5 cents a coin. Lots of millionaires made over night with this one.

Cardano ADA is the next big coin predicted to explode. Currently at around $1/coin it's predicted to hit $10/coin by end of the year. Based around smart contracts, and Elon Musk is eyeing this one.

Anyone else watching or investing in crypto?
 
I got into it earlier this month, as a hedge and out of pure curiosity.

It's been fun to watch, but the volatility swings aren't for the weak hearted.
 
For the life of me, I can't understand bitcoin!

Q: What is bitcoin?
A: It's a type of currency.

Q: What can you buy with it?
A: More bitcoin.

Q: Does it have value?
A: It does if you want to buy bitcoin.

Q: Can I buy a cup of coffee with it?
A: No, but if you sold some of your bitcoin, you could use that money to buy a cup of coffee.

Q: Who can I sell my bitcoin to?
A: Someone else who wants bitcoin.

Q: How will they pay me for my bitcoin?
A: With bitcoin, I was kidding about the coffee :)

Q: I don't understand, what is the reason for owning bitcoin?
A: If you invest it wisely you can turn a little bitcoin into a lot of bitcoin.
 
CigarStone said:
For the life of me, I can't understand bitcoin!

Q: What is bitcoin?
A: It's a type of currency.

Q: What can you buy with it?
A: More bitcoin.

Q: Does it have value?
A: It does if you want to buy bitcoin.

Q: Can I buy a cup of coffee with it?
A: No, but if you sold some of your bitcoin, you could use that money to buy a cup of coffee.

Q: Who can I sell my bitcoin to?
A: Someone else who wants bitcoin.

Q: How will they pay me for my bitcoin?
A: With bitcoin, I was kidding about the coffee :)

Q: I don't understand, what is the reason for owning bitcoin?
A: If you invest it wisely you can turn a little bitcoin into a lot of bitcoin.
Click to expand...

You read my mind.
 
Q: What can you buy with it?
A: More bitcoin.

More and more retailers are accepting cryptocurrency everyday. Just this morning I could have bought my Iron Bean Coffee order using cryptocurrency.


Q: Can I buy a cup of coffee with it?
A: No, but if you sold some of your bitcoin, you could use that money to buy a cup of coffee.

Depends on the retailer

Q: Who can I sell my bitcoin to?
A: Someone else who wants bitcoin.

You can trade it in for fed reserve notes


Q: I don't understand, what is the reason for owning bitcoin?
A: If you invest it wisely you can turn a little bitcoin into a lot of bitcoin.

To break free of the Western Central Banking system that is evil and corrupt.
 
PS: cryptocurrency isn't for everyone. If you're uncomfortable with it, that is perfectly fine. I was hesitant until a few weeks ago. I'm still not completely comfortable with it, hence I'm only dipping my toe into the water. But I feel it is the way of the future. Imagine being able to buy cigars overseas without paying any conversion fees to the credit card company.

Every credit card transaction hits the retailer for some percentage (I hear 3%), then they charge you interest unless you pay it off immediately. Banks hold your money (electronically) they earn interest on it and pay you pennies or charge you if you're under an arbitrary balance. This is the price for convenience and the banking/credit system takes advantage of all of us. Cryptocurrency removes the middlemen, and gives us a chance to be a tad more free.
 
Scap said:
Q: What can you buy with it?
A: More bitcoin.

More and more retailers are accepting cryptocurrency everyday. Just this morning I could have bought my Iron Bean Coffee order using cryptocurrency.


Q: Can I buy a cup of coffee with it?
A: No, but if you sold some of your bitcoin, you could use that money to buy a cup of coffee.

Depends on the retailer

Q: Who can I sell my bitcoin to?
A: Someone else who wants bitcoin.

You can trade it in for fed reserve notes


Q: I don't understand, what is the reason for owning bitcoin?
A: If you invest it wisely you can turn a little bitcoin into a lot of bitcoin.

To break free of the Western Central Banking system that is evil and corrupt.
Click to expand...
Is it like the on-line bidding sites where it costs you $600 for the right to pay $1 for a $500 item?
 
CigarStone said:
Is it like the on-line bidding sites where it costs you $600 for the right to pay $1 for a $500 item?
Click to expand...

Not at all.
It's just like purchasing a share of stock in a company.
Your USD converts over to what BTC is worth at that time and now you own that BTC.

Depending on where you purchase, you may be charged a fee for the conversion and a percentage over spot. Just like if you were buying gold and silver.
 
No not at all. Go on youtube and start watching videos on ethereum, bitcoin, cardano, doge etc. It's blockchain technology. For example Cardano is based around smart contracts tied to a blockchain. Banks and other companies that deal in contracts have already begun using blockchain technology to manage contracts and receive payments. While they are called coins they're not all just about trading different currencies around. This is a big subject, so if you want to learn more about it definitely head over to youtube.

Unless you fully understand crypto and blockchain technology, you'll continue to be hesitant. If someone gave me $100k to invest, I'd put it on all in various crypto, not stocks. Bitcoin is like digital gold. Now has a $1.5 TRILLION market cap! Only a matter of time before it overtakes gold. Bitcoin isn't really for making payments anymore, it's now treated as the gold of cyrpto. It's where you put your money to hold it.

Here's a good site that lists most of the coins out there: https://coinmarketcap.com/
 
I do believe crypto currency has a good future Now that musk bought 1.5b worth of Bitcoin it will get much more traction in my opinion and for those who don’t have millions to invest by buying actual Bitcoin you can buy GBTC which is mirroring actual bitcoin price moves on a % change valuation GBTC is worth $48.4 vs $48400 for actual Bitcoin
 
CgarDan said:
I do believe crypto currency has a good future Now that musk bought 1.5b worth of Bitcoin it will get much more traction in my opinion and for those who don’t have millions to invest by buying actual Bitcoin you can buy GBTC which is mirroring actual bitcoin price moves on a % change valuation GBTC is worth $48.4 vs $48400 for actual Bitcoin
Click to expand...

You can purchase a 100 millionth of a bitcoin.
0.00000001
 
If anyone wants to play with something that is zero risk, you can download the pi app from your phone's play store. Log in and start earning some Pi coins.

I am sending you 1π! Pi is a new digital currency developed by Stanford PhDs, with over 10 million members worldwide. To claim your Pi, follow this link https://minepi.com/ScapPi and use my username (ScapPi) as your invitation code.

No pressure, just something to play with if you're interested.
 
Can anyone answer this for me? How much, in real US dollars, does it cost to obtain enough bitcoin to buy something that costs exactly $100? I have read lengthy articles which are titled "everything you want to know about digital currency" and could never find a real answer in any of them.

When I've asked this before, nobody could answer it. They said things like "well that depends" or "it doesn't work that way" or "it's not that simple" or "well, you see, it is mined by computers on the internet". I think the answer is "you divide by the square root of your zip code, multiply that by your phone number and take that and a $100 dollar bill and you got it.
 
Scap said:
If anyone wants to play with something that is zero risk, you can download the pi app from your phone's play store. Log in and start earning some Pi coins.

I am sending you 1π! Pi is a new digital currency developed by Stanford PhDs, with over 10 million members worldwide. To claim your Pi, follow this link https://minepi.com/ScapPi and use my username (ScapPi) as your invitation code.

No pressure, just something to play with if you're interested.
Click to expand...

Stanford PhDs huh? I'm a big fan of their psychological experiments.
 
Scap said:
If anyone wants to play with something that is zero risk, you can download the pi app from your phone's play store. Log in and start earning some Pi coins.

I am sending you 1π! Pi is a new digital currency developed by Stanford PhDs, with over 10 million members worldwide. To claim your Pi, follow this link https://minepi.com/ScapPi and use my username (ScapPi) as your invitation code.

No pressure, just something to play with if you're interested.
Click to expand...
Do you have an app for cake?
 
CigarStone said:
Can anyone answer this for me? How much, in real US dollars, does it cost to obtain enough bitcoin to buy something that costs exactly $100? I have read lengthy articles which are titled "everything you want to know about digital currency" and could never find a real answer in any of them.

When I've asked this before, nobody could answer it. They said things like "well that depends" or "it doesn't work that way" or "it's not that simple" or "well, you see, it is mined by computers on the internet". I think the answer is "you divide by the square root of your zip code, multiply that by your phone number and take that and a $100 dollar bill and you got it.
Click to expand...
0.0021 bitcoins
just go here https://www.coindesk.com/calculator
 
CigarStone said:
Can anyone answer this for me? How much, in real US dollars, does it cost to obtain enough bitcoin to buy something that costs exactly $100?
Click to expand...

Change the word Bitcoin to gold or silver.

It's a way to place hold paper currency. Some days it's up, others it's down. It just depends on what the market is doing.
 
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