Bitcoin (cryptocurrency)

[Gareth Barry Conlon]

Isn't that a Ponzi scheme as apposed to a pyramid scheme.

All variations of the same thing. The common theme is zero real value and new investors funds used for paying out to the prior generations of investors.

All the money invested in to bitcoin, where has it gone?

 

[Tuearts right boot]

All variations of the same thing. The common theme is zero real value and new investors funds used for paying out to the prior generations of investors.

All the money invested in to bitcoin, where has it gone?

Into someones pocket who's a lot more savvy than me unfortuately

 

[blue wang]

Legal tender is taken for granted by us in 1st World countries, there are many many instances of poorer counties seizing legal tender of their citizens leaving them penniless. Cadano for instance is setting up decentralised currency in Africa right now that is backed by the Egyptian government (whos prime minister has University degrees in cryptocurrency FYI), its 100% under the control of the owner of the currency and is peer to peer trading so it cannot be taken away from them by sidious rulers.

Besides that compies like Tesla accept bitcoin for purchases now, venmo owned by PayPal allow people to pay using crypo and even buy it from the app. BMW have signed a contract with VeChain to for their block chain to help with world wide logistics. Block chain international transactions clear in 15mins as opposed to 4 or 5 days. International companies will use this technology as a means to progress

There are lots of examples of companies waking up to crpto.

Legal tender right now is on its last legs, look at the world wide debt we are currently in and it will get worse. Decentralised currently will protect people against hyper inflation if there is a collapse of an economy.

I would say we are 5 - 10yrs away from a shift in the way everyone manages their finances and currency.

Don't get me wrong there are plenty of shitcoin ponzi scemes, dodgecoin, safe moon and the like just offer a meme and have social media pull. They don't offer any innovation and exist to scam money out of retail investors when the majority stake holder dumps and runs.

If I understand you correctly, you state it underlying value is it's legitimacy,. The fact that you are able to exchange the currency for goods?

As someone that studies finance would love to see at what point do people and companies state they are no longer believe in bit coins function as a6 store of value. For instance if the currency lost 75 percent in a day,. Would Tesla still accept it as a means of payment,. You know just a stress test of sorts...would be interesting.

 

[BusterPhillips]

If I understand you correctly, you state it underlying value is it's legitimacy,. The fact that you are able to exchange the currency for goods?

As someone that studies finance would love to see at what point do people and companies state they are no longer believe in bit coins function as a6 store of value. For instance if the currency lost 75 percent in a day,. Would Tesla still accept it as a means of payment,. You know just a stress test of sorts...would be interesting.

Yes, but you would have to pay a lot more coin. Same could be said for the £

 

[blue wang]

Yes, but you would have to pay a lot more coin. Same could be said for the £

It's not always like that though many developing countries often start using the US Dollar when currency starts experiencing hyper inflation.

 

[Wafty Cranker]

It's not always like that though many developing countries often start using the US Dollar when currency starts experiencing hyper inflation.

Or when countries experiencing hyperinflation they could buy a digital decentralised digital currency.

That’s what’s happened in Venezuela and more recently Argentina has seen a crypto boom as well.

 

[blue wang]

Or when countries experiencing hyperinflation they could buy a digital decentralised digital currency.

That’s what’s happened in Venezuela and more recently Argentina has seen a crypto boom as well.

That's interesting,. Could one speculate on the argie crypto,. If the majority of a countries transactions are via crpto,. Sounds like it would be worth a flutter.

 

[BusterPhillips]

That's interesting,. Could one speculate on the argie crypto,. If the majority of a countries transactions are via crpto,. Sounds like it would be worth a flutter.

Ultimately its a risk investing in crypto, even though I'm pro crypto no one can say for sure if it's a bubble or not.

The market is very vulnerable but block chain and crypto are in their infancy and these early days its being rightly compared to the birth of the Internet.

The value of the coins fluctuate widely, it will stay like this until its regulated but until then there are opportunities to be had.

 

[comiskey33]

Few footballers attach their name to ZIL today price up 28%
our very own ruben diaz being one, glad im already on the mystery bus tour

 

[KPXBLN]

I just listened to a very interesting podcast on Bitcoin. It's hosted by Chris Hayes, who does a nightly news show on MSNBC , with a guest who writes for Bloomberg News.

Here's the episode description:

How does bitcoin work? Where did it come from, why does it exist, and will it ever be used for everyday purchases? Far from some passing fad, bitcoin has been around for more than a decade now and shows no signs of going anywhere. We figured it was long overdue to understand the most well-known cryptocurrency and the problem it is trying to solve. Lucky for us, Bloomberg editor Joe Weisenthal came prepared.

This maybe makes it sound quite basic, but I found it really informative - and convincing - on the concept and use-case behind cryptocurrency, while at the same time making me really sceptical about Bitcoin itself.

 

[Gaz in Zurich]

Just think of Bitcoin as digital gold, a store of wealth. Eventually it will take over gold as the number one asset to hold. In the near future that is.

 

[Worzel Gummidge#9]

Few footballers attach their name to ZIL today price up 28%
our very own ruben diaz being one, glad im already on the mystery bus tour

Invested in ZIL myself, reckon by the end of this alt season it will be a significantly higher price than it is now, aswell as VET, ADA, ONE, COTI, XRP, BTT, DOGE, MANA, HOT, CAKE, CHZ, LTC, MFT...

 

[Mad Eyed Screamer]

Invested in ZIL myself, reckon by the end of this alt season it will be a significantly higher price than it is now, aswell as VET, ADA, ONE, COTI, XRP, BTT, DOGE, MANA, HOT, CAKE, CHZ, LTC, MFT...

I swear at times i read this thread and wonder where the English language version is.....

 

[Aliks]

Just think of Bitcoin as digital gold, a store of wealth. Eventually it will take over gold as the number one asset to hold. In the near future that is.

Its too volatile for that, at least for the time being.

This will change when the volume of bitcoin usage for ordinary transactions grows larger than the volume of speculation.

 

[metalblue]

Invested in ZIL myself, reckon by the end of this alt season it will be a significantly higher price than it is now, aswell as VET, ADA, ONE, COTI, XRP, BTT, DOGE, MANA, HOT, CAKE, CHZ, LTC, MFT...

Why? What are the fundamental reasons for this prediction?

 

[Worzel Gummidge#9]

Why? What are the fundamental reasons for this prediction?

I'd be here all night trying to explain but the world/technology is changing all the time and crypto tokens are playing a big part in it. The ones I've mentioned are very good projects in my opinion

 

[metalblue]

I'd be here all night trying to explain but the world/technology is changing all the time and crypto tokens are playing a big part in it. The ones I've mentioned are very good projects in my opinion

It shouldn’t be difficult to explain it to me. if it is then there is something wrong. I understand the concept behind crypto so I’m just curious why you’re bullish these particular ones. It might be just because they “look” cheap.

 

[Worzel Gummidge#9]

It shouldn’t be difficult to explain it to me. if it is then there is something wrong. I understand the concept behind crypto so I’m just curious why you’re bullish these particular ones. It might be just because they “look” cheap.

Thanks for your concerns bro appreciate it, see you at the end of this Alt season bull run yeah.

 

[Manchester33]

Has anyone got any background on Bitcoinrush? The mrs has seen some stuff online and is adamant we should throw in £250. Looks like a scam to me and I will look into it properly later, I just wondered if anyone has heard of it or used it?

A good rule of thumb for any investment opportunity - if it looks/feels like a scam. It's probably a scam.

 

[Gareth Barry Conlon]

Thanks for your concerns bro appreciate it, see you at the end of this Alt season bull run yeah.

What is an Alt season?

On the basis nothing happens ever in the lifetime of a crypto asset how does it have a season and how can you predict anything?