Author Topic: Cryptocurrency  (Read 605 times)

gallsman

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Cryptocurrency
« on: September 01, 2017, 02:36:49 PM »
Anyone on the board made any cryptocurrency investments or done any research on it? What's your verdict? Is it the future? Is it all a massive bubble that's about to burst?
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theskull1

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Re: Cryptocurrency
« Reply #1 on: September 01, 2017, 03:29:39 PM »
Peter Schiff talking about this on Joe Rogan

Go to 2hrs 13mins 20secs for the start of that part of the conversation

https://www.youtube.com/watch?v=by1OgqQQANg
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Eamonnca1

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Re: Cryptocurrency
« Reply #2 on: September 01, 2017, 06:10:04 PM »
I don't fully understand it myself but The Economist did a decent piece on it years ago:

https://www.economist.com/news/leaders/21677198-technology-behind-bitcoin-could-transform-how-economy-works-trust-machine

Hardy

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Re: Cryptocurrency
« Reply #3 on: September 01, 2017, 08:13:30 PM »
Peter Schiff talking about this on Joe Rogan

Go to 2hrs 13mins 20secs for the start of that part of the conversation

https://www.youtube.com/watch?v=by1OgqQQANg

In his attempt to explain why it won't work I think he convinced me that it will.

Standard money is just a medium of exchange with no intrinsic value since the gold standard was abandoned and whose notional value is bound to collapse when the fractional reserve banking dodge, built on debt-based funny money collapses as it inevitably must.

If contracting entities in sufficient numbers agree to use bitcoin as a medium of exchange, the only difference in comparison to money is in the fact that bitcoin's notional value is not artificially inflated as debt-based money's is.
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omaghjoe

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Re: Cryptocurrency
« Reply #4 on: September 01, 2017, 08:33:33 PM »
Peter Schiff talking about this on Joe Rogan

Go to 2hrs 13mins 20secs for the start of that part of the conversation

https://www.youtube.com/watch?v=by1OgqQQANg

In his attempt to explain why it won't work I think he convinced me that it will.

Standard money is just a medium of exchange with no intrinsic value since the gold standard was abandoned and whose notional value is bound to collapse when the fractional reserve banking dodge, built on debt-based funny money collapses as it inevitably must.

If contracting entities in sufficient numbers agree to use bitcoin as a medium of exchange, the only difference in comparison to money is in the fact that bitcoin's notional value is not artificially inflated as debt-based money's is.

The fact most if not all currency are now just concepts with public buyin mean that it doesnt have to be based on anything to succeed.
With public confidence and buyin they could take off but would they suceed? If left to the free market IO fancy they could be headed for a crash.
Sovereign currencies are backed up by central banks and governments and that's a key difference as far as long term success goes. Personally I think it will take off, head towards a crash and subsequently regulation that will likely kill them being used widespread, but if you get in and out before the crash it could be a good investment.

I know SFA about them tho TBH

Eamonnca1

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Re: Cryptocurrency
« Reply #5 on: September 01, 2017, 09:40:57 PM »
The gold standard is long gone. The "inevitable collapse of civilization as we know it" that Ron Paul types keep predicting seems to be as far away as ever. Seems like we're doing just fine with fiduciary money.

Gabriel_Hurl

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Re: Cryptocurrency
« Reply #6 on: September 01, 2017, 11:14:23 PM »
I've had one of those Goldmoney accounts for 2 years now. I pop a couple of hundred into it every month.

mrhardyannual

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Re: Cryptocurrency
« Reply #7 on: September 01, 2017, 11:32:58 PM »
Onecoin anybody?

tothetop03

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Re: Cryptocurrency
« Reply #8 on: September 02, 2017, 07:44:25 AM »
I bought some Dascoin about 3 months ago..... not trading to it seems 2018...so it is a wait but we will see what happens....

longballin

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Re: Cryptocurrency
« Reply #9 on: September 02, 2017, 08:24:13 AM »
Put in a few bob myself, not a huge amount. A friend persuaded me but I havent a clue. He's put in a lot and is no eejit. So I just wait and see... blind faith

stiffler

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Re: Cryptocurrency
« Reply #10 on: September 02, 2017, 09:03:57 AM »
I've had one of those Goldmoney accounts for 2 years now. I pop a couple of hundred into it every month.

How has it performed ?

Where can you see its performance over the last day 3 yrs?
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gallsman

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Re: Cryptocurrency
« Reply #11 on: September 02, 2017, 09:28:26 AM »
I've had one of those Goldmoney accounts for 2 years now. I pop a couple of hundred into it every month.

How has it performed ?

Where can you see its performance over the last day 3 yrs?

Just Google the price of gold. GoldMoney isn't crypto - you're purchasing physical gold.
"Never mind your why. Why ain't in your repetoire no more n***a"