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Crypto - The basics of investing

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posted on Sep, 14 2021 @ 06:34 PM
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a reply to: SuicideKing33

I'm not sure what FUD is, but I am not discouraging anyone from buying, just making sure people know the risks involved.



posted on Sep, 14 2021 @ 06:38 PM
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a reply to: Mikemp44

You're aware every bitcoin transaction is available in a public ledger?



posted on Sep, 14 2021 @ 06:40 PM
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a reply to: Grenade

Where does the money come from? I know when I buy a hot dog I am paying for a lot of things to make that hot dog possible. Money cannot come from nothing, and what crypto is essentially doing is allowing for full free trade of ones own assets without centralized oversight. This means there is no control on the value, even if there are a finite amount of coins (which won't stay finite). Yes you may have made $40k on a $10k investment, but if the accepted currency either devalues, or says "Not tradable with crypto" then all you have is the digital wallet.

I agree that physical currency IS going away, which is awful for all of us, but do you really think the central bank is going to just adopt current crypto? No way! They are going to release there own and dictate to you what your crypto is worth. That is how fiat works no, and that is how digital will work then with the global currency.



posted on Sep, 14 2021 @ 06:43 PM
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a reply to: Grenade

Yes, but again it is digital. ANYTHING digital is fragile and often backed with nothing more then what we are told it is. Again not trying to argue that no one should invest, just know what the risks are. I have seen to many people work hard for their money and lose it because they didn't know the risks.



posted on Sep, 14 2021 @ 06:43 PM
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a reply to: Mikemp44

Again, you don't understand bitcoin.

There will only ever be 21 million bitcoins, period.

If money can't come from nothing where did central banks find the trillions for stimulus packages?

The beauty of decentralised crypto is that it's not beholden to a central authority.
edit on 14/9/21 by Grenade because: (no reason given)



posted on Sep, 14 2021 @ 06:45 PM
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a reply to: JinMI

True and true, and you are in the best position with that, only thing to worry about is if the war on crypto declares your holdings worthless.

Land has never been owned by anything but the ants.


But Gold....



posted on Sep, 14 2021 @ 06:45 PM
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a reply to: Mikemp44

If you lose your bitcoin it's because you had poor security.

A hardware wallet with a cypher encrypted recovery key is more than enough to secure your bitcoin.



posted on Sep, 14 2021 @ 06:46 PM
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a reply to: Mikemp44

The price of bitcoin is controlled by those who hold it, central banks are powerless to stop it.



posted on Sep, 14 2021 @ 06:47 PM
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a reply to: Mikemp44

We are all subject to markets and supply/demand.

Fiat is existing on faith and centralization for example.

With crypto were past the faith part. Personally I think the entire space is still going through price discovery.



posted on Sep, 14 2021 @ 06:50 PM
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a reply to: Grenade

That is the prediction based on current knowledge of transactional growth and the technology needed. I could start a bitcoin farm now and they would adjust that number; mark my words they will.

The central banks printed the money based on futures. Essentially when you are born in the US the federal reserve owns you. You are given a number, and the agreed holding per person is how much you will produce over your lifetime. THIS is the 'value' they possess to print money. Remember, the US will NEVER be out of debt, it is a mathematical impossibility.

That is the one thing I do love about crypto is it cuts out the middle man and allows people to get behind things without massive investments; it's telling wall street to F off.
But again that only goes so long, one way or the other those that hold the wealth, the ones in a completely different market structure from you and me, will always find a way to get it back sadly...



posted on Sep, 14 2021 @ 06:51 PM
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a reply to: JinMI

And it very well might be, but one thing I have learned in my years is that only one thing is ever a true, inherent store of value for us. Time.



posted on Sep, 14 2021 @ 06:52 PM
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a reply to: Mikemp44

Bitcoin will underpin any new centralised issued crypto, much the same way gold did with the dollar until 1933.



posted on Sep, 14 2021 @ 06:52 PM
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a reply to: Grenade

Not true, until bitcoin becomes a usable currency it is at the mercy of central banks. I can still buy a hot dog with my dollars, can't buy it with bitcoin...

Why do you think Tesla stopped taking Bitcoin as payment for their cars?



posted on Sep, 14 2021 @ 06:55 PM
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a reply to: Mikemp44

Actually the supply is hard coded and could only be changed with a protocol update which if i'm not mistaken would need to be a fork from the original chain. Sure there might be a bitcoin 2.0 but as it stands the finite supply is hard coded.



posted on Sep, 14 2021 @ 06:56 PM
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a reply to: Mikemp44

Interesting you should say that.

Ouroboros Chronos

Store of value is an interesting metric. Less volatility and deflationary being key.

Crypto is not that.....yet.



posted on Sep, 14 2021 @ 06:56 PM
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a reply to: Mikemp44

So Musk could manipulate the price and consolidate his positions.

Ask yourself, did Tesla sell any bitcoin?



posted on Sep, 14 2021 @ 06:58 PM
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a reply to: Mikemp44

I can't buy a hotdog legally with gold either and yet it has been a medium of trade for thousands of years and convertible into pretty much any fiat currency throughout that time.

Before crypto i hoarded precious metals, my family are traditionally scrap dealers.

It's simply easier to have an encrypted usb key in my pocket over a container of copper or chest of bullion.
edit on 14/9/21 by Grenade because: (no reason given)



posted on Sep, 14 2021 @ 07:07 PM
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a reply to: Grenade

While that does make sense, for GODs sake don't get rid of the copper!!!!!


That will eventually be worth a 1000 times what it is now.

I hope you are right, I hope it all turns out as good people have invested a lot in it, but gain if it doesn't it's going to be the single largest transfer of wealth to those who control the majority of it already.

Musk is an @sshat, and you are right he didn't sell because it would have been at a loss. They stopped taking it because of it's volatile characteristic as a store of value. One of the three main things any good currency has to have.



posted on Sep, 14 2021 @ 07:12 PM
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a reply to: Mikemp44

I have 300 tonnes of shredded and clean UPVC available, will accept bitcoin.


I've been buying gold and silver bullion since i was a young man, don't worry about me. Few 600 litre IBC's full of brass as well.



posted on Sep, 14 2021 @ 08:17 PM
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a reply to: Grenade

Well now I feel sheepish...

You are in very good shape sir.




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