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Crypto Currencies

WazzaVN

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I invested 2 - 3k a few years ago and spread it across a few coins. Was happy to log in the other day to see it's all worth about 8k.

I just kept it long term and almost forgot about it. I got exited when I saw the prices the other day and threw in some more.

I dunno whether to keep my eye on it or just try and forget about it again and just not look

What do you reckon skydrol some say Bitcoin will hit 100k easy this year I guess it depends how exited everyone gets. Just like last time it spiked.
 

Skydrol

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This market is so volitile. Lets face it, they have as much value as a Car Wash Power Washer Token. BTC is the 1st one and for some people they see value, however, there are other Tokens that are far superior, like Litecoin or Etherium. Could be another Toilet/Towel Paper mania.

What I heard from years, what gave BTC its value was a Chinese move. In China is not possible to take the Yuan out of the country. So wealthy Chinese traded their Yuans for Cryptos, in a form to "Launder" the cash. Trading the purchasing power for another and back to another currency overseas. The CCP took note of it, and few years ago shutdown their Crypto Coin Exchanges. The demand soared, people took noticed and a hype was created. That BTC is used for nefarious purposes... yes and no, any world Currency is used for nefarious purposes.

The reason people want a Crypto Currency is simply because another person is willing to take it, and gamble on a speculative market. So they go for the most popular. Same idea with Trading Cards. What is better, Pokemon or Yu-Gi-Oh or Digimon? What about art, Picaso or Moné or DaVinci?

I say, is up to you to hang on to it or sell it. Nobody knows if will go to 100K or 0K tomorrow. That is why I bought a very modest amount of LTC with cash that I can afford to loose. However, bought a hefty amount of Doge Coin for about a 1/4 of a USD Penny with cash that I am willing to loose. Right now moved up 1 decimal point. I will let that one prune.
 
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WazzaVN

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Yeah I'm definitely not betting on it being a sure thing more just I can see the hype right now and trying to capitalise on it haha.

I do believe in the technology though but as for decentralization of big banks I'm not so sure
 

Skydrol

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The thing is, we use now a form of Crypto. Each time you use your Bank Card you never see the cash, just numbers on a computer screen. Those same numbers are used for nefarious acts.

Is all based in condfidence.

Would no be surprised the IMF will use a form of Crypto SDR. Will be for nefarious uses, to track down every single transaction and use a VAT system (Value Added Tax system). Very sneaky way to steal wealth per transaction, in my book, that is nefarious.

That is legal, a nefarious legal way of doing it.
 
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shane_3800

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Quantum computers will render block chains useless. Watch this space for the emergence of quantum computers.
 

Derekthetree

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The thing is, we use now a form of Crypto. Each time you use your Bank Card you never see the cash, just numbers on a computer screen.
But "cash" is intrinsically worthless too. Just base metals or paper with controlled stamping on them. It's only the bank stating it's value and the subsequent acceptance of the population that it can be used to buy goods that gives it value.

UK bank notes are basically just an IOU, they state "I promise to pay the bearer on demand the sum of X pounds"

If you've not read it, Making Money by Terry Pratchett is an excellent read and really delves into the arbitrary nature of cash and the concept of held wealth.
 

Skydrol

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Quantum computers will render block chains useless. Watch this space for the emergence of quantum computers.
Heard that too. That is one reason I am not taking them seriously

But "cash" is intrinsically worthless too. Just base metals or paper with controlled stamping on them. It's only the bank stating it's value and the subsequent acceptance of the population that it can be used to buy goods that gives it value.

UK bank notes are basically just an IOU, they state "I promise to pay the bearer on demand the sum of X pounds"

If you've not read it, Making Money by Terry Pratchett is an excellent read and really delves into the arbitrary nature of cash and the concept of held wealth.
I am very aware of Currencies.

The game is all about confidence. Once is lost is nothing more than pieces of paper and they do go to their true intrinsic value of 0. On a historical note... Currencies were invented by the Chinese.

Cryptos are not Money, they are Currencies/Tokens, big difference.

The international currencency system is what determines the "life of this planet". The world is a business. Is not about politics, that is advertising, a show. Is all about Business and Cash. That is why I am a "political athiest".
 

Skydrol

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Looks like the CCP is back in business, no need to launder the cash. BTC poked the $40.3K mark. Looks like all is going to come down.

Screenshot_20210107-204036_Coinbase.jpg
 

Skydrol

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Made some decent coin on Doge. I was not expecting Musk to mention Doge. As usual, all run on a hype. Bought at 0.0023 100K Coins and sold at 0.0723. Walked out with a decent profit. I think is going back down and was nothing but a hype. Doge is based on Litecoin and has an unlimited amount. I still buying LTCs and cold storage them, that is what I did with the Doge proffits.

Now, lets see how this jabronies are adding more fuel to the hype.

 
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