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Crypto Currency

The trading platform the buyer uses shows their current total value.

The trading platforms wont allow you to sell what you dont have.

Money to be made. My friend (who is no genius) started off with £100 worth of bitcoin in 2017. He make 220k last year (most of which he bought more)
 
Hixs said:
The trading platform the buyer uses shows their current total value.

The trading platforms wont allow you to sell what you dont have.

Money to be made. My friend (who is no genius) started off with £100 worth of bitcoin in 2017. He make 220k last year (most of which he bought more)
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So crypto owners "assume" the platform software is stable and accurate, they "assume" they will not wake up tomorrow to a zero balance, and they "accept" that if they lose their password, they are fucked?

Who do they believe manages the software platform? Keeps it up to date? Maintains the system?

Why do they accept that they cannot communicate with anyone who manages the platform? What if there is an error?

Why do they accept the risk of hackers?

Do they understand that crypto currency will become, if it not already, the prime target of hackers and corruption?

Do you get swamp land in Florida along with your Bitcoin?
 
CigarStone said:
So crypto owners "assume" the platform software is stable and accurate, they "assume" they will not wake up tomorrow to a zero balance, and they "accept" that if they lose their password, they are fucked?

Who do they believe manages the software platform? Keeps it up to date? Maintains the system?

Why do they accept that they cannot communicate with anyone who manages the platform? What if there is an error?

Why do they accept the risk of hackers?

Do they understand that crypto currency will become, if it not already, the prime target of hackers and corruption?

Do you get swamp land in Florida along with your Bitcoin?
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I actually agree with you, but Bitcoin is backed by as much gold as the US dollar is...
 
CBoukal said:
I actually agree with you, but Bitcoin is backed by as much gold as the US dollar is...
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How would a Bitcoin buyer know that? Not assume, but know. I assume I will be around for dinner, I know the sun will rise in the east tomorrow.

I have eons of history telling me if I have a $100 bill in my hand, it's worth $100.

I have eons of history telling me that if I have a retirement plan that shows me every facet of the $1,000,000 in the account, I can be pretty confident that my account is worth $1,000,000. And if I wake up tomorrow and my account is only worth $900,00, I can call someone and discuss why.

"Faith" is the confidence in something that can't be proven.

"Logic" is reasoning according to strict, proven, principals.

Logic is a good foundation for investment, faith is not.
 
Eqwhipped said:
The smartest investment that can be made right now is buy gold. Then use that gold to buy Bitcoin so your crypto is gold based.
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But that only makes it gold based if they hold the gold and offer to redeem the crypto at a fixed rate.
 
CigarStone said:
I thought this was a joke? No?
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It was yes... My next suggestion was going to be catalytic converters from cars traded for crypto.

I'm mocking it a bit, but I do own some crypto in the hope that like all things intangible but valuable. It's worth what people are willing to pay and people are willing to pay a lot right now.
 
Eqwhipped said:
It was yes... My next suggestion was going to be catalytic converters from cars traded for crypto.

I'm mocking it a bit, but I do own some crypto in the hope that like all things intangible but valuable. It's worth what people are willing to pay and people are willing to pay a lot right now.
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Somewhere in this thread, I asked how much Bitcoin it would take to buy something worth $100 and @CigSid Bill said .0021 bitcoin. So, if I Venmo you $100, can you give me a .0021 chunk of your bitcoin?
 
CigarStone said:
Somewhere in this thread, I asked how much Bitcoin it would take to buy something worth $100 and @CigSid Bill said .0021 bitcoin. So, if I Venmo you $100, can you give me a .0021 chunk of your bitcoin?
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Yes, but I think there is a transaction fee so I'm gonna need you to pad that bill a bit. 😉
 
Eqwhipped said:
Yes, but I think there is a transaction fee so I'm gonna need you to pad that bill a bit. 😉
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There's always a catch!:cool:

.0021 Bitcoin is worth $100 ................... but wait! It costs you $125 to buy .0021 bitcoin.

Brilliant!
 
Saxon9075 said:
Woukd Williams Devane steer us wrong.
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Had to Google this...

"When our country used to flex its muscle with battleships like the USS Iowa, the world would listen,” said William Devane... "There are dangerous forces pulling our country apart, threatening our economy and our way of life. That’s why I’m going to do two things: support our military, and buy gold from Rosland Capital.”

Interesting stuff, did it influence anyone to buy gold?
 
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