Cryptocurrency

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

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gallsman

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?

theskull1

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


Hardy

Quote from: theskull1 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

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.

omaghjoe

Quote from: Hardy on September 01, 2017, 08:13:30 PM
Quote from: theskull1 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

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

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

I've had one of those Goldmoney accounts for 2 years now. I pop a couple of hundred into it every month.

mrhardyannual


tothetop03

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

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

Quote from: Gabriel_Hurl 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.

How has it performed ?

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

Quote from: stiffler on September 02, 2017, 09:03:57 AM
Quote from: Gabriel_Hurl 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.

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.

gallsman

Bitcoin on the verge of going through $10k

Frank_The_Tank

Invested about £800 in BTC and £800 in ETH back in the summer.  BTC was around £3,100 each when invested - my investment got me 0.27 = worth just over £2K at the minute.  Just pity didn't invest last year when they were £500 each or a few years ago when I had considered it and they were £80 each and got talked out of it by another guy I worked with  :(
Never argue with an idiot. They will only bring you down to their level and beat you with experience

GetOverTheBar

Not directly on topic, not but a million miles away, there is an online football stockmarket getting quite big. Been on it from it's early days - there's a bit of money to be made if you have a bit of patience.

https://trade.footballindex.co.uk/