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The Crypto Warning

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posted on Dec, 3 2021 @ 12:19 PM
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originally posted by: JinMI
Whatever someone is willing to value it as.


Great currency then, everyone always wants to haggle for each purchase, very much a time saving situation.



posted on Dec, 3 2021 @ 12:25 PM
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a reply to: AugustusMasonicus

No, bitcoin is horrible currency lol.

Slow, expensive and volatile.

Doesn't been its not and hasn't held value and appreciation beyond the dollar.



posted on Dec, 3 2021 @ 12:32 PM
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originally posted by: Vroomfondel
a reply to: rounda

If your knowledge was on par with your arrogance you might have something to go on, but it isn't.

Instead of trying to turn it back on me, why don't you explain exactly and precisely what your problem with crypto is? Why do you feel crypto is less safe and less dependable than fiat currency?

Money can be forged. Bank accounts can be stripped. Identities can be stolen. Credit can be hijacked. Fiat currency is meaningless the moment people stop believing in it. How secure are any of those compared to a bitcoin wallet stored offline on my own device?

You think quantum computers are a threat to crypto? Why don't you tell me why banks, credit cards, and identities are any better? Do you honestly think quantum computers cant be used to hack financial institutions? Are they more safe than a wallet stored offline on my own device?

Please explain, and try to do so with something other than "haha" and "we in the tech sector". You know, verifiable facts and other forms of proof you seem to avoid at all costs...


Because, guess what?

Your money is insured with a bank.

Identity stolen? "Hello bank? Can you place a hold on my cards and send me out new ones? Thanks. What's that? You're going to reverse those fraudulent charges too? Wow, how nice of you."

Fiat currency is not "meaningless the moment people stop believing in it." Fiat currency has value as long as a government backs it. It doesn't matter if you believe in it or not.

You can verify distributed computing and storage yourself. The information is freely available.


I can transfer money to anyone, instantly, for much cheaper than sending bitcoin through any number of services... and when more transactions occur, I can still transfer that money instantly, unlike bitcoin, which takes longer when more transactions occur...

Or, I can transfer money the good old fashioned way -- by handing them cash. And wouldn't you know it? Handing someone cash is completely untraceable and anonymous.

And when I pay for something using Fiat currency, I can be fairly certain that the value of the cash I spent won't change drastically tomorrow. In other words -- the lack of volatility means the $10 i spent won't be worth $20 tomorrow, and the $10 the merchant received won't be worth $2 tomorrow.

Look at all those "problems" crypto aims to solve, and doesn't.

The biggest benefit to crypto is it's decentralized nature. Except in the real world, you need to buy that crypto from a centralized exchange... defeating the point of a decentralized system. Go figure.

Which you'll pay a fee on, both from the exchange, and to the miners. I can go to an ATM or bank and get money without paying a fee. And if an ATM does charge a fee, guess what? My bank refunds me that fee.

"Haha"
edit on 3-12-2021 by rounda because: (no reason given)



posted on Dec, 3 2021 @ 12:34 PM
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originally posted by: JinMI
Doesn't been its not and hasn't held value and appreciation beyond the dollar.


That isn't the conversation though, people think it would still be valuable if the currency it's pegged to 'collapsed'.



posted on Dec, 3 2021 @ 01:14 PM
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a reply to: AugustusMasonicus

Can you elaborate on how it’s ‘pegged’ to the dollar?

One of these currencies is finite and deflationary, the other is the polar opposite.

Personally I see a lot of parallels between bitcoin and gold, bitcoin being more secure, easier to transact and audit amongst other benefits. It’s the first global digital currency and despite doomsayers spouting nonsense it’s survived and prospered for a decade with exponential growth.



posted on Dec, 3 2021 @ 01:16 PM
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a reply to: rounda

This attitude served the people of Venezuela well.



posted on Dec, 3 2021 @ 01:28 PM
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a reply to: rounda

All investments are speculative, the game is to turn currency into physical assets.

I invested because I understood the technology and could see it’s potential, I’ve then used the profits from these trades to improve my overall wealth and diversify my portfolio.

Just because you lack technical knowledge and any kind of foresight doesn’t make me stupid or lucky. Someone who claims they don’t regret missing out on the opportunity of a lifetime suggests at least a smidgen of bitterness.

Bitcoin could very well set me up for early retirement, how stupid of me, I’ll remember that as I’m chilling on the porch with a whisky and cigar.



posted on Dec, 3 2021 @ 01:32 PM
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Everyone in the US owns some sort of US dollar, physical or in the bank. Not everyone owns Bitcoin. If I were to tell gramps his Babe Ruth signed baseball is worth 1 Bitcoin, he’d throw it in the trash at his next garage cleaning.
It seems like the folks who have large amounts of Bitcoin will tell you, because OMG they are so rich!
edit on 3-12-2021 by 38181 because: (no reason given)



posted on Dec, 3 2021 @ 01:34 PM
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a reply to: 38181

Not everyone owns Tesla stock or Bullion either, most people I talk to about gold wouldn’t have a clue of its price, hasn’t stopped its relative value as a trade instrument increasing consistently for a thousand years despite the fall of empires.



posted on Dec, 3 2021 @ 01:35 PM
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originally posted by: Grenade
a reply to: 38181

Not everyone owns Tesla stock or Bullion either, most people I talk to about gold wouldn’t have a clue of its price, hasn’t stopped its relative value as a trade instrument increasing consistently for a thousand years despite the fall of empires.



Stocks that you mentioned can be converted into tangible assets. Not electronic woo.
edit on 3-12-2021 by 38181 because: (no reason given)



posted on Dec, 3 2021 @ 01:38 PM
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originally posted by: Grenade
Can you elaborate on how it’s ‘pegged’ to the dollar?


It's pegged to the price of dollars, which is also tied to other major currencies. When you exchange your Bitcoin it has to get converted into a dollar amount first. There is no independent Bitcoin pricing structure nor is it a gold-pegged price.




edit on 3-12-2021 by AugustusMasonicus because: dey terk er election



posted on Dec, 3 2021 @ 01:52 PM
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Despite all the negativity in this thread I think I’ll continue to hold my “electronic woo” for a few more cycles before turning it into real estate.

Ill even wager that bitcoin continues to rise comparatively to the dollar if anyone has the balls.

Come back here in 2 years from today and if bitcoin is less than $50,000 I’ll give you $1000. The bet only stands for AM as if ATS is still around I’ll assume both of us will still be here and true to our word.

The other posters I doubt even have $1000 to spare based on their market analysis.
edit on 3/12/21 by Grenade because: (no reason given)



posted on Dec, 3 2021 @ 01:54 PM
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a reply to: 38181

My old man currently sports a Rolex Daytona that was a conversion from bitcoin.



posted on Dec, 3 2021 @ 05:57 PM
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originally posted by: Grenade
a reply to: rounda

All investments are speculative, the game is to turn currency into physical assets.

I invested because I understood the technology and could see it’s potential, I’ve then used the profits from these trades to improve my overall wealth and diversify my portfolio.

Just because you lack technical knowledge and any kind of foresight doesn’t make me stupid or lucky. Someone who claims they don’t regret missing out on the opportunity of a lifetime suggests at least a smidgen of bitterness.

Bitcoin could very well set me up for early retirement, how stupid of me, I’ll remember that as I’m chilling on the porch with a whisky and cigar.


It's laughable you think buying crypto is a technical skill, and it's even more laughable you think I lack it because I'm not willing to gamble on something that doesn't exist, is propped up by crap coins, and even more propped up by speculation.

Good for you, you gambled and won. Congrats, want a cookie?

And then, a couple posits later, you say:


Not everyone owns Tesla stock or Bullion either


Does that mean those people lack technical skill or foresight?

I wonder why more than 62% of all bitcoin is held by 0.5% of all total wallets. Less than 6.5% of the total bitcoin wallets contain more than 98.5% of all bitcoin. Can you say "Market Manipulation?" If only there was some sort of centralized institution that protected the consumer against market manipulation...

Oops, I lack the technical skill and foresight to realize that.

And what about that 60% of all bitcoin miners being in China, a communist country where the government can take control of your mining operation whenever it sees fit?

But good for you, you made some money because of technical skill and foresight. It wasn't gambling.
edit on 3-12-2021 by rounda because: (no reason given)



posted on Dec, 3 2021 @ 06:56 PM
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originally posted by: Grenade
a reply to: 38181

My old man currently sports a Rolex Daytona that was a conversion from bitcoin.



I know of a person who sold a very nice airplane in Bitcoin. I wonder what he’s doing now with his digital wallet. What’s in your wallet?



posted on Dec, 3 2021 @ 07:01 PM
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a reply to: 38181

More than I had before I invested.



posted on Dec, 3 2021 @ 07:02 PM
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a reply to: rounda

Yes, your brutal assassination made me cry, I’m mopping it up with £50 notes as we speak.

Stupid old me could buy you 100x over.

Create a wallet and send me the public address, I’ll send you some bitcoin and you can come back in a year and thank me?

Or, reject free money and let your ego get in the way.
edit on 3/12/21 by Grenade because: (no reason given)



posted on Dec, 3 2021 @ 07:21 PM
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originally posted by: Grenade
a reply to: rounda

Yes, your brutal assassination made me cry, I’m mopping it up with £50 notes as we speak.

Stupid old me could buy you 100x over.

Create a wallet and send me the public address, I’ll send you some bitcoin and you can come back in a year and thank me?

Or, reject free money and let your ego get in the way.


I'm the one with the ego?

The guy who "could buy [me] 100x over" without knowing me?

You don't know anything about me, but you think you're wealthier than me, more technically skilled, and have more foresight?

Sounds to me like you have small penis syndrome.



posted on Dec, 3 2021 @ 07:31 PM
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a reply to: rounda

It’s called trolling.

Fair enough, I’ll keep my fake money.

This selfish egotistical maniac would have genuinely sent you some bitcoin in an attempt to show you why it’s not useless.

If we’re talking computer technology then yes, ego or not based on our conversation I have more experience and knowledge of the industry.

Newsflash: I don’t care what you think.
edit on 3/12/21 by Grenade because: (no reason given)



posted on Dec, 3 2021 @ 08:26 PM
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a reply to: rounda

I’m not the one criticising another poster for making massive profit on investments, nor am I stating somehow I’m not interested in generating said profit themselves due to assertions which are historically unfounded and illogical.

Consistent triple digit profits year on year for a decade and I’m the idiot. How many years does bitcoin need to outperform traditional markets before you concede? While you burn suitcases full of paper I’ll be enjoying the financial digital revolution.

Ever considered your government backed financial institutions are migrating to blockchain technologies and digital currency? Seems its only legitimate when the criminals running our society tell you to jump ship. I don’t need the government authority to control my finances, they’ve proven they’re the enemy of the people. Centralised fiat based economies are the modern slave traders, trust them at your peril.

Despite what you might think i don't want to see anyone miss out or find themselves in poverty. For example if hard times hit you can DM me and even as a stranger i'd be more than willing to help you financially, you and anyone else i can afford to help.


edit on 3/12/21 by Grenade because: (no reason given)




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