Cryptocurrency

Started by gallsman, September 01, 2017, 02:36:49 PM

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RedHand88

Tesla, who will be the world's biggest car manufacturer within 20 years when we all switch to electric, are planning to use BTC as currency soon. They have purchased $1.5 BILLION worth, which Seamus alluded to.

So no, it's not a ponzi scheme, a fad or a scam. It's real and it's the future. Enjoy your 0.5% interest savings accounts lads!

gallsman

Quote from: RedHand88 on February 25, 2021, 01:45:04 PM
Tesla, who will be the world's biggest car manufacturer within 20 years when we all switch to electric, are planning to use BTC as currency soon. They have purchased $1.5 BILLION worth, which Seamus alluded to.

So no, it's not a ponzi scheme, a fad or a scam. It's real and it's the future. Enjoy your 0.5% interest savings accounts lads!

This is absolute bullshit put out by Musk. Bitcoin is a) fundamentally unsuitable as a means of exchange because of the slowness of the transaction processing and the fees involved and b) the volatility is completely unacceptable to both buyers and sellers.

trailer

Quote from: gallsman on February 25, 2021, 01:57:06 PM
Quote from: RedHand88 on February 25, 2021, 01:45:04 PM
Tesla, who will be the world's biggest car manufacturer within 20 years when we all switch to electric, are planning to use BTC as currency soon. They have purchased $1.5 BILLION worth, which Seamus alluded to.

So no, it's not a ponzi scheme, a fad or a scam. It's real and it's the future. Enjoy your 0.5% interest savings accounts lads!

This is absolute bullshit put out by Musk. Bitcoin is a) fundamentally unsuitable as a means of exchange because of the slowness of the transaction processing and the fees involved and b) the volatility is completely unacceptable to both buyers and sellers.

Regarding "the great digital reset" I know a fella who won't put Google maps on his phone because he is afraid google will invoice him, so if you think in 5 or 10 years there is gonna be some big digital reset and traditional banks cease to exist then you're in cloud cuckoo land. Crypto is what it is. I'm only in it because I have a few pound that I want to speculate with and if I win, I win, if I lose it, so be it. I am not thinking about going out and buying a Tesla with Bitcoin.
Crypto Currencies have a long way to go before they become more mainstream and they need to become more stable before that and arguably they can't become mainstream until they stabilise. And what's furthermore there are people who rely heavily on good old fashioned cash. They know it and they trust it. Them people aren't going to adopt Bitcoin or any other currency for that matter in a few years.



dublin7

Quote from: trailer on February 25, 2021, 02:05:27 PM
Quote from: gallsman on February 25, 2021, 01:57:06 PM
Quote from: RedHand88 on February 25, 2021, 01:45:04 PM
Tesla, who will be the world's biggest car manufacturer within 20 years when we all switch to electric, are planning to use BTC as currency soon. They have purchased $1.5 BILLION worth, which Seamus alluded to.

So no, it's not a ponzi scheme, a fad or a scam. It's real and it's the future. Enjoy your 0.5% interest savings accounts lads!

This is absolute bullshit put out by Musk. Bitcoin is a) fundamentally unsuitable as a means of exchange because of the slowness of the transaction processing and the fees involved and b) the volatility is completely unacceptable to both buyers and sellers.

Regarding "the great digital reset" I know a fella who won't put Google maps on his phone because he is afraid google will invoice him, so if you think in 5 or 10 years there is gonna be some big digital reset and traditional banks cease to exist then you're in cloud cuckoo land. Crypto is what it is. I'm only in it because I have a few pound that I want to speculate with and if I win, I win, if I lose it, so be it. I am not thinking about going out and buying a Tesla with Bitcoin.
Crypto Currencies have a long way to go before they become more mainstream and they need to become more stable before that and arguably they can't become mainstream until they stabilise. And what's furthermore there are people who rely heavily on good old fashioned cash. They know it and they trust it. Them people aren't going to adopt Bitcoin or any other currency for that matter in a few years.

Central bank governors are constantly criticising bitcoin and last month the EU Central Bank president Chritine Lagarde claimed bitcoin is being used for money laundering. While cyrpto currencies will no doubt be used in future it is much more likely the EU will creat their own curreny like they did with the euro than deal with bitcoin

RedHand88

Every currency and commodity in the world is used for money laundering.

@trailer... What's the age profile of a typical person who only uses cash do you think?

dublin7

Quote from: RedHand88 on February 25, 2021, 03:30:37 PM
Every currency and commodity in the world is used for money laundering.

@trailer... What's the age profile of a typical person who only uses cash do you think?

They're not called out by the head of the european central bank though and there are policies in place to stop people using banks from money laundering that aren't there for cyrpto currencies

Seamus

Quote from: dublin7 on February 25, 2021, 03:35:48 PM
Quote from: RedHand88 on February 25, 2021, 03:30:37 PM
Every currency and commodity in the world is used for money laundering.

@trailer... What's the age profile of a typical person who only uses cash do you think?

They're not called out by the head of the european central bank though and there are policies in place to stop people using banks from money laundering that aren't there for cyrpto currencies

In that case HSBC and Wells Fargo should have their billion dollar fines returned. Wall Street is also a haven for money laundering. If Christine Lagarde is criticizing BTC it's time to buy. She fully realizes that the majority of people that have heard about crypto only know of BTC. Mass adoption can wait for another four years while the prices of all coins are still low especially some fantastic altcoins that can be purchased for pennies.
"I wish I could inspire the same confidence in the truth which is so readily accorded to lies".

dublin7

Quote from: Seamus on February 25, 2021, 04:10:49 PM
Quote from: dublin7 on February 25, 2021, 03:35:48 PM
Quote from: RedHand88 on February 25, 2021, 03:30:37 PM
Every currency and commodity in the world is used for money laundering.

@trailer... What's the age profile of a typical person who only uses cash do you think?

They're not called out by the head of the european central bank though and there are policies in place to stop people using banks from money laundering that aren't there for cyrpto currencies


In that case HSBC and Wells Fargo should have their billion dollar fines returned. Wall Street is also a haven for money laundering. If Christine Lagarde is criticizing BTC it's time to buy. She fully realizes that the majority of people that have heard about crypto only know of BTC. Mass adoption can wait for another four years while the prices of all coins are still low especially some fantastic altcoins that can be purchased for pennies.

Genuine question. Is there any regulations for bitcoin, crypto currencies etc?

Itchy

Quote from: Seamus on February 25, 2021, 04:10:49 PM
Quote from: dublin7 on February 25, 2021, 03:35:48 PM
Quote from: RedHand88 on February 25, 2021, 03:30:37 PM
Every currency and commodity in the world is used for money laundering.

@trailer... What's the age profile of a typical person who only uses cash do you think?

They're not called out by the head of the european central bank though and there are policies in place to stop people using banks from money laundering that aren't there for cyrpto currencies

In that case HSBC and Wells Fargo should have their billion dollar fines returned. Wall Street is also a haven for money laundering. If Christine Lagarde is criticizing BTC it's time to buy. She fully realizes that the majority of people that have heard about crypto only know of BTC. Mass adoption can wait for another four years while the prices of all coins are still low especially some fantastic altcoins that can be purchased for pennies.

What Altcoins would you recommend Seamus?

APM


Does it tick the boxes of key Characteristics of Money
Durability - Yes
Portable - Yes
Divisible - Yes
Hard to counterfeit - Yes
Must be generally accepted by a population - No or Not Yet
Valuable – Depends on the currency but remains to be seen

Does it tick the boxes of key functions of money:
Medium of exchange - Yes, but inefficient and slow
Store of value: People need to trust it, but given the volatility, it's hard to say that it provides an absolutely reliable store of value
Unit of account: To an extent, but given the level of volatility it would be hard to use it as a unit of account. Would I want to get paid in BTC - don't think so.  Would I invest in it - yes, but only money I can afford to lose?
Standard of deferred payment: for the exact same reasons as above, would I want to borrow or lend in BTC given the volatility

Mikhail Prokhorov

fiat currencies are finished, they are printing far too much of it and will lead to hyper inflation.

the end started when the dollar was no longer backed by gold.

bitcoin is digital gold and will replace physical gold as a store of value.

anyone with money in a bank is crazy imo.

Seamus

Quote from: dublin7 on February 25, 2021, 04:20:10 PM
Quote from: Seamus on February 25, 2021, 04:10:49 PM
Quote from: dublin7 on February 25, 2021, 03:35:48 PM
Quote from: RedHand88 on February 25, 2021, 03:30:37 PM
Every currency and commodity in the world is used for money laundering.

@trailer... What's the age profile of a typical person who only uses cash do you think?

They're not called out by the head of the european central bank though and there are policies in place to stop people using banks from money laundering that aren't there for cyrpto currencies


In that case HSBC and Wells Fargo should have their billion dollar fines returned. Wall Street is also a haven for money laundering. If Christine Lagarde is criticizing BTC it's time to buy. She fully realizes that the majority of people that have heard about crypto only know of BTC. Mass adoption can wait for another four years while the prices of all coins are still low especially some fantastic altcoins that can be purchased for pennies.

Genuine question. Is there any regulations for bitcoin, crypto currencies etc?

Yes and no depending on what part of the world you are talking about and what three letter agencies. The SEC do not consider BTC a security along with other cryptos therefore no regulations. Of course this could change. The IRS on the other hand have taxing implications mainly through exchanges like Coinbase and Gemini and will cast the net as wide as possible. The FTC regulates certain trading platforms. The European Union has far greater regulations while some countries do not allow cryptos whatsoever.
"I wish I could inspire the same confidence in the truth which is so readily accorded to lies".

Seamus

Quote from: Itchy on February 25, 2021, 04:39:09 PM
Quote from: Seamus on February 25, 2021, 04:10:49 PM
Quote from: dublin7 on February 25, 2021, 03:35:48 PM
Quote from: RedHand88 on February 25, 2021, 03:30:37 PM
Every currency and commodity in the world is used for money laundering.

@trailer... What's the age profile of a typical person who only uses cash do you think?

They're not called out by the head of the european central bank though and there are policies in place to stop people using banks from money laundering that aren't there for cyrpto currencies

In that case HSBC and Wells Fargo should have their billion dollar fines returned. Wall Street is also a haven for money laundering. If Christine Lagarde is criticizing BTC it's time to buy. She fully realizes that the majority of people that have heard about crypto only know of BTC. Mass adoption can wait for another four years while the prices of all coins are still low especially some fantastic altcoins that can be purchased for pennies.

What Altcoins would you recommend Seamus?

Itchy, it is very difficult for me to recommend coins on an open forum.  We all should know by now how volatile cryptos can be. It's very important to have the proper mindset when investing, in fact it's the #1 criteria. Most people do not but they certainly can develop it, I had to. By following Elliot Wave most coins are at the present time in wave 3 of 5 which means on the way up.  There will also be corrections along the way as nothing goes up in a straight line. This should last until June when I expect most cryptos will then enter wave 4 and a big pull back. Then wave 5 where we should see massive gains by the end if 2021. I have figures made out for all my coins. Of course the graphs need constant reviewing as everything can change. Remember BTC is the leader and altcoins generally follow suit even if their graph goes down their price can increase. All to do with the Satochi.

I may private message you with one or two coins as you were the first to reach out and you come across as genuinely needing help. Also I rarely come on this forum, have gone missing for a year at a time in the past to a lot of members delight :).
"I wish I could inspire the same confidence in the truth which is so readily accorded to lies".

Itchy

Quote from: Seamus on February 25, 2021, 09:27:18 PM
Quote from: Itchy on February 25, 2021, 04:39:09 PM
Quote from: Seamus on February 25, 2021, 04:10:49 PM
Quote from: dublin7 on February 25, 2021, 03:35:48 PM
Quote from: RedHand88 on February 25, 2021, 03:30:37 PM
Every currency and commodity in the world is used for money laundering.

@trailer... What's the age profile of a typical person who only uses cash do you think?

They're not called out by the head of the european central bank though and there are policies in place to stop people using banks from money laundering that aren't there for cyrpto currencies

In that case HSBC and Wells Fargo should have their billion dollar fines returned. Wall Street is also a haven for money laundering. If Christine Lagarde is criticizing BTC it's time to buy. She fully realizes that the majority of people that have heard about crypto only know of BTC. Mass adoption can wait for another four years while the prices of all coins are still low especially some fantastic altcoins that can be purchased for pennies.

What Altcoins would you recommend Seamus?

Itchy, it is very difficult for me to recommend coins on an open forum.  We all should know by now how volatile cryptos can be. It's very important to have the proper mindset when investing, in fact it's the #1 criteria. Most people do not but they certainly can develop it, I had to. By following Elliot Wave most coins are at the present time in wave 3 of 5 which means on the way up.  There will also be corrections along the way as nothing goes up in a straight line. This should last until June when I expect most cryptos will then enter wave 4 and a big pull back. Then wave 5 where we should see massive gains by the end if 2021. I have figures made out for all my coins. Of course the graphs need constant reviewing as everything can change. Remember BTC is the leader and altcoins generally follow suit even if their graph goes down their price can increase. All to do with the Satochi.

I may private message you with one or two coins as you were the first to reach out and you come across as genuinely needing help. Also I rarely come on this forum, have gone missing for a year at a time in the past to a lot of members delight :).

Thanks Sesmus, I appreciate that.

trileacman

Jesus this mass adoption bullshit all over again.

Honesty is there anyone on here actually using (as opposed to simply holding) cryptocurrency? 99.99% of cryptocurrency trading is as speculation. Doesn't make them worth anything at all.
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