The Crypto Warning

originally posted by: Alien Abduct
When the dollar collapse...

What's the timeframe for this collapse I keep hearing about?

Well I like to put my hard earned fiat cash into crypto rather than the bank holding it for me.
I can make a substantial amount of interest on it compared to the banks pittance.
I can transfer it to any of my friends around the world without the bank taking their cut.
If you want to get into crypto this is a good month to dive in as a lot of investors cash out for the holidays.

originally posted by: UKWO1Phot
Well I like to put my hard earned fiat cash into crypto rather than the bank holding it for me.
I can make a substantial amount of interest on it compared to the banks pittance.
I can transfer it to any of my friends around the world without the bank taking their cut.
If you want to get into crypto this is a good month to dive in as a lot of investors cash out for the holidays.

You can transfer it to whoever you want, it will cost substantially more to do so, and it will take longer to do so...

If you lose your password, you lose your wallet...

If someone figures out your password and transfers all your crypto, you're out of luck because there's no centralized bank to insure it.

Oh yea, and to actually convert your fiat into crypto, you need some sort of centralized exchange...

oops.

a reply to: rounda

What happens when you die?

originally posted by: anonentity
a reply to: rounda

What happens when you die?

Dont worry, I'm sure the lawyer doing your will wont be a douche and transfer your crypto to himself with the wallet password you'll have to give him.

a reply to: rounda

You Obviously know little about Crypto then.

originally posted by: UKWO1Phot
a reply to: rounda

You Obviously know little about Crypto then.

I obviously know more about it than you.

a reply to: rounda
OBV.

1. Can transfer many coins that show in receivers wallet within seconds and confirmed in minutes.
2. Seed phrase.
3. 2FA.
4. Buy for cash face to face if needed or use exchange and move to personal wallet.

originally posted by: AugustusMasonicus

originally posted by: Alien Abduct
When the dollar collapse...

What's the timeframe for this collapse I keep hearing about?

You find out and tell me, then we'll both know.

originally posted by: UKWO1Phot
a reply to: rounda
OBV.

1. Can transfer many coins that show in receivers wallet within seconds and confirmed in minutes.
2. Seed phrase.
3. 2FA.
4. Buy for cash face to face if needed or use exchange and move to personal wallet.

Are you saying obviously, or referring to oblivion coin?

1. I guess youve never used bitcoin or ethereum, which take half an hour to an hour for the block to be verified. You must be using one of the proof of stake ponzi coins. Good for you.

2. Password. Semantics doesnt make you smart.

www.coinbase.com...

Think of a wallet as being similar to a password manager for crypto, and the seed phrase as being like the master password.

See, because with the "seed phrase" i dont even need the device your wallet is on... because every transaction to that wallet is stored on the blockchain, so i can just pop that password into my wallet and transfer all your crypto to wherever i want.

3. Hate to break it to you, but 2FA isnt as secure as you think it is. All you need is a sim card and an underpaid telco employee...

Or perhaps youd use a dongle... just another silly device that locks you out when you lose it...

4. Like i said, centralized exchange... defeating the whole point of a decentralized currency.

originally posted by: Alien Abduct
You find out and tell me, then we'll both know.

Gotcha, more Chicken Little sky screaming.

a reply to: CloneFarm1000

Unfortunately I think the safest currency belongs to the the country with the strongest Military...

Bottom line, Crypto doesn't belong to any country and therefore has no Military association... keep that in mind!

a reply to: Grenade

Barring celestial intervention our path to digital currency is inevitable.

I would add solar intervention and man-made (EMP or nuclear) intervention to your 'celestial' list

a reply to: Fowlerstoad

The sun is covered by the celestial definition. An EMP would be localised.

You need a global event to shutdown global networks.

A digital economy is high on the list of future societal reconstruction in the minds of TPTB, I stand by my statement.

a reply to: AugustusMasonicus

Before 2030.

a reply to: CloneFarm1000

The money is moving around faster than ever.

To coin a phrase - "You ain't seen nothing yet".

I've put my money (what little there is) into two things: land and gold.

Land because as someone once said, they aren't making any more of it, and gold because it always seems to retain it's value and even greatly increases in value in times of uncertainty.

I may not be right but I'm comfortable in my decisions.

To each his own.

originally posted by: Grenade
Before 2030.

Doubtful. And if the dollar were to 'collapse' that means every other world currency is in the tank too and that includes crypto.

a reply to: AugustusMasonicus

You got it.

originally posted by: AugustusMasonicus

originally posted by: Alien Abduct
You find out and tell me, then we'll both know.

Gotcha, more Chicken Little sky screaming.

No no, more like don't put all your chicken eggs in one basket....and the dollar is just one basket.

originally posted by: Alien Abduct
No no, more like don't put all your chicken eggs in one basket....and the dollar is just one basket.

You're shifting the goalposts, using the dollar and investing in the dollar are two different things.

If the dollar 'collapses' that means all other world currencies are done including your beloved crypto.