One thing that has bothered me from the beginning - If the governments issue their own digital currency, won't the first thing they do is ban the use of other coins?
True that's what China is doing actually. They plan on issuing their own CBDC (Central Bank Digital Currency) and that's why they banned Bitcoin. Doesn't stop people from using a VPN though. In the meantime the US government has stated they have no plans to ban Bitcoin, especially now that ETFs are being approved.
Cashless society backed by Fiat. Crypto value is tied to dollars and still centraly controlled. Want to do a transaction? Well you need a device. What device? Maybe something under the skin? Crypto pushers can GTFO in my opinion your either not looking at the big picture ir you know exactly what you are doing.
Cashless society backed by fiat, yes that's what USD is, that's what credit and debit cards are for. To take money out of your bank you need a device called a debit card. Some crypto is centralized, BTC and many others are not. No one entity owns BTC. A lot of people have no idea what they're talking about in regards to crypto on this site. Banks do not like crypto, they can't control it. The government can't control it. Crypto is a good thing because it takes their power away and gives it to the holder.
No you have cash now. Im talking physical CASH IN HAND you will not have it. You will be beholdant to the device the technocrats mandate. U dont have it. You dont eat. Yes USD is fiat it determens the price of gold, it was the other way around prior to 70's. Then it went to petro dollar then to fiat. THINK! WE ONLY HAVE ONE SHOT TO NOT BE RELIANT EVER AGAIN edit: you cant fix the system by swapping it over from a to b with added steps and dependencies in everyday transactions you are just adding another level of control!
You bought lots of bitcoin and now you wqnt to be the top dog, sorry your investmentbwas trash. Let go of it. Dont let GREED cloud your thoughts
Yes, gold backed currency would be ideal. A decentralized gold backed crypto would be even better IMO. The supply would be linked to the actual amount of gold in existence. The independence from banks, security of the blockchain and ease of money transfer crypto offers is the way of the future. I'm not against being able to hold onto something tangible, that should be an option too, but the tech is only getting better. It's futile to fight progress, instead we should learn how it can help free us from the system and use it.
Is it greed to try and free yourself from the FED and the banksters who devalue your life savings until you are left with an empty retirement account by the end of your life? Good for Saavik for making a wise investment choice.
BTC is decentralized (uncontrollable). Why do you think the deep state is so against it? Yes, you pay for it in USD. If loaves of bread were the currency of America, then you would be able to pay for BTC with that instead. If there was a SHTF event and a world wide power out then all of our currency would be useless, cash, gold bars, BTC. Yes governments can ban BTC (like China has), but you can use a VPN and get around it because try as they might, the government can not control it. No one can. That's the point.
Some article I read I can't remember where was saying once quantum computing really gets going it will crack the encryption and then crypto coins days will be over. Sounds like BS who knows.
If that's true then the entire internet infrastructure would collapse and we'd be going back to the feudal days.
I'd rather worry about a nuclear bomb dropping on my head.
Yeah, I hear they're a long way off from making quantum computing feasible. Say they come out with it in 50 years, crypto will probably be outdated by then and the next thing to come along that replaces it will be faster, better, more secure, etc. No harm in utilizing the tech, getting out from under banks' control and making some $$ in the meantime.
My new copypasta:
If you bought $1700 worth of gold in 2013, it'd now be valued at $1783, a 14% gain, but that failed to keep up with the rate of inflation for all that time (17.8%) so you would have actually lost money.
If you bought $1700 worth of bitcoin in 2013, you'd currently have $112,200, a 6,500% increase.
You are making a correct observation and I do not dispute that. Far from it.
But that is not what I am pointing towards. This is not about differences in valuation.
What I am pointing at is the movements within the asset-classes I mentioned in my post. They are chained up. This begs the question: How compromised is bitcoin?
For those who are avid believers and downvote-kneejerkers who are butt-hurt for even my daring to question what is going on in this day and age:
I am not discounting the value for market of a crypto/ blockchain system. I am hoping to evoke your thinking ability and interest to look deeper into the ecosystem of finance and ask yourself: why does this happen? What is the circuitry? How is liquidity moving through the asset classes? And when I say ecosystem, you have to look at the whole damn picture: commerce, trade, fiscal, banking, regulatory.
Crypto is a sucker's game.
I like how Bitcoin's "value" is based on a currency that doesn't have any intrinsic "value".
Good luck with that.
Ser what is any precious metal or stock’s value measured in? Hmmmmmmmmmmm.....
And people are still curious why the system is about to fall apart. Gee.
Stay poor, NGMI
You saying that shows you have no understanding of Bitcoin
Me saying that is tongue-in-cheek taking a shot how all of it is a farce and will come crashing down completely, including Bitcoin.
One thing that has bothered me from the beginning - If the governments issue their own digital currency, won't the first thing they do is ban the use of other coins?
True that's what China is doing actually. They plan on issuing their own CBDC (Central Bank Digital Currency) and that's why they banned Bitcoin. Doesn't stop people from using a VPN though. In the meantime the US government has stated they have no plans to ban Bitcoin, especially now that ETFs are being approved.
Cashless society backed by Fiat. Crypto value is tied to dollars and still centraly controlled. Want to do a transaction? Well you need a device. What device? Maybe something under the skin? Crypto pushers can GTFO in my opinion your either not looking at the big picture ir you know exactly what you are doing.
Cashless society backed by fiat, yes that's what USD is, that's what credit and debit cards are for. To take money out of your bank you need a device called a debit card. Some crypto is centralized, BTC and many others are not. No one entity owns BTC. A lot of people have no idea what they're talking about in regards to crypto on this site. Banks do not like crypto, they can't control it. The government can't control it. Crypto is a good thing because it takes their power away and gives it to the holder.
No you have cash now. Im talking physical CASH IN HAND you will not have it. You will be beholdant to the device the technocrats mandate. U dont have it. You dont eat. Yes USD is fiat it determens the price of gold, it was the other way around prior to 70's. Then it went to petro dollar then to fiat. THINK! WE ONLY HAVE ONE SHOT TO NOT BE RELIANT EVER AGAIN edit: you cant fix the system by swapping it over from a to b with added steps and dependencies in everyday transactions you are just adding another level of control! You bought lots of bitcoin and now you wqnt to be the top dog, sorry your investmentbwas trash. Let go of it. Dont let GREED cloud your thoughts
Yes, gold backed currency would be ideal. A decentralized gold backed crypto would be even better IMO. The supply would be linked to the actual amount of gold in existence. The independence from banks, security of the blockchain and ease of money transfer crypto offers is the way of the future. I'm not against being able to hold onto something tangible, that should be an option too, but the tech is only getting better. It's futile to fight progress, instead we should learn how it can help free us from the system and use it.
They already have gold back stable coins too like PaxG.
Yeah, that'd be great to integrate into the new US currency.
Wait how is my investment trash when I’m up 1500%
Because its temporary. And that tells me already your thought process is GREED, armour of God my friend. I pray you see the truth
Is it greed to try and free yourself from the FED and the banksters who devalue your life savings until you are left with an empty retirement account by the end of your life? Good for Saavik for making a wise investment choice.
No, but greed is pushing another system because it would benefit you despite clearly being another level of control
BTC is decentralized (uncontrollable). Why do you think the deep state is so against it? Yes, you pay for it in USD. If loaves of bread were the currency of America, then you would be able to pay for BTC with that instead. If there was a SHTF event and a world wide power out then all of our currency would be useless, cash, gold bars, BTC. Yes governments can ban BTC (like China has), but you can use a VPN and get around it because try as they might, the government can not control it. No one can. That's the point.
Some article I read I can't remember where was saying once quantum computing really gets going it will crack the encryption and then crypto coins days will be over. Sounds like BS who knows.
If that's true then the entire internet infrastructure would collapse and we'd be going back to the feudal days. I'd rather worry about a nuclear bomb dropping on my head.
Yeah, I hear they're a long way off from making quantum computing feasible. Say they come out with it in 50 years, crypto will probably be outdated by then and the next thing to come along that replaces it will be faster, better, more secure, etc. No harm in utilizing the tech, getting out from under banks' control and making some $$ in the meantime.
Checked the boards today ... Interesting how EUR/USD is now up to 1.165 and Gold and silver in both currencies were moving in almost the % up.
And bitcoin lost 2K.
This begs the question, does it not?
My new copypasta: If you bought $1700 worth of gold in 2013, it'd now be valued at $1783, a 14% gain, but that failed to keep up with the rate of inflation for all that time (17.8%) so you would have actually lost money.
If you bought $1700 worth of bitcoin in 2013, you'd currently have $112,200, a 6,500% increase.
What's your question?
You are making a correct observation and I do not dispute that. Far from it.
But that is not what I am pointing towards. This is not about differences in valuation.
What I am pointing at is the movements within the asset-classes I mentioned in my post. They are chained up. This begs the question: How compromised is bitcoin?
For those who are avid believers and downvote-kneejerkers who are butt-hurt for even my daring to question what is going on in this day and age:
I am not discounting the value for market of a crypto/ blockchain system. I am hoping to evoke your thinking ability and interest to look deeper into the ecosystem of finance and ask yourself: why does this happen? What is the circuitry? How is liquidity moving through the asset classes? And when I say ecosystem, you have to look at the whole damn picture: commerce, trade, fiscal, banking, regulatory.