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Crypto Currency

Scap said:
Change the word Bitcoin to gold or silver.

It's a way to place hold paper currency. Some days it's up, others it's down. It just depends on what the market is doing.
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But I can hold gold or silver.......................... :)
 
CigarStone said:
Can anyone answer this for me? How much, in real US dollars, does it cost to obtain enough bitcoin to buy something that costs exactly $100? I have read lengthy articles which are titled "everything you want to know about digital currency" and could never find a real answer in any of them.

When I've asked this before, nobody could answer it. They said things like "well that depends" or "it doesn't work that way" or "it's not that simple" or "well, you see, it is mined by computers on the internet". I think the answer is "you divide by the square root of your zip code, multiply that by your phone number and take that and a $100 dollar bill and you got it.
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I have yet to visit any casino where the house will offer me any advice on how to break even, or to beat the house so, good luck with your quest on obtaining real information concerning crypto.

Modern day 'markets' are a joke ........
 
Bitcoin is the hardest money on the planet.

Think of it more as digital gold. A store of value. Bitcoin, BTC, is a deflationary asset, there are only 21 million BTC. 18 million have already been mined. Every 4 years it goes they a cycle called a halving, where the miner reward is cut in half, deflation. The stock to flow ratio put BTC in the rage of 110 in 4 years time. Gold has had the previously highest stock-to-flow at around 58. After this last halving BTC surpassed gold’s stock-to-flow and its showing.

Iran is using BTC to settle international settlements as a way around using USD. Corporations in the US are putting a portion, in some cases all of their corporate treasury’s into BTC as a hedge against real inflation, some estimates to be as high as 20% and get worse until a hyper inflation event.
As interest rates go negative banks will start charging you if your balance is to high! Charging you for saving your money, on top of all the other crazy fees the industry has up there sleeves.

BTC is the only decentralized crypto asset available.
 
CigarStone said:
For the life of me, I can't understand bitcoin!

Q: What is bitcoin?
A: It's a type of currency.

Q: What can you buy with it?
A: More bitcoin.

Q: Does it have value?
A: It does if you want to buy bitcoin.

Q: Can I buy a cup of coffee with it?
A: No, but if you sold some of your bitcoin, you could use that money to buy a cup of coffee.

Q: Who can I sell my bitcoin to?
A: Someone else who wants bitcoin.

Q: How will they pay me for my bitcoin?
A: With bitcoin, I was kidding about the coffee :)

Q: I don't understand, what is the reason for owning bitcoin?
A: If you invest it wisely you can turn a little bitcoin into a lot of bitcoin.
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You understand it, you're just not making it relatable to what you already use. (I believe)

Think of a bitcoin just as you would a dollar bill. Neither hold an intrinsic value. Both are worth something because someone said they were and we accept it. Some retailers do accept crypto currency. As a stability and acceptance grows, its conceivable that one of these CC's may become the new world currency. It wont happen tomorrow but in 40 years, who knows?

Some people like me believe the only real global currency is Gold and Silver but that's an old fashioned way of thinking. In my life I've used all kinds of things to barter as a form of currency, including cigars. Now people are willing to accept a crypto currency.

Crypto is just a fancy name for currency digitalized. With benefits being a register of who owns what and no overhead to produce it, there is some value here. Today our money for the most part is already digital. My 401k tells me I own things I've never seen. My bank tells me I have money I've never actually held or counted myself. In my life I can't think of a time I've ever held or even seen more than $5000 of my own money cash but I trust a free phone app that tells me when or if I have more.

Obviously the nuances of what crypto means to society get much more detailed then my broad approach at this but your sarcasm was very familiar. As a person that appreciates your humor, I did chuckle. What you think is exactly how I thought and then I started comparing to what we already had and it started to make at least a bit more sense. Right now there are a bunch of brands trying to be the best which is like the Dollar going up against the Yen or a Silver Liberty vs a Silver Libertad.

This new world of tech is killing me though as I'm still trying to figure out how Stevie Nicks is suing the Skateboard Lip sync guy as he tries to sell himself as a Non Fungible Token. Pardon my French but what in the F' is that!?
 
Once you buy bit coins, like a stock, can you sell it and get cash back? Let’s say you want to make $20k. You buy $5k in bit coin. Once it hits $20k value, can you sell it and have $20k in cash?

Floyd T
 
SKYDIVNEKD said:
Once you buy bit coins, like a stock, can you sell it and get cash back? Let’s say you want to make $20k. You buy $5k in bit coin. Once it hits $20k value, can you sell it and have $20k in cash?

Floyd T
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Absolutely. There are folks that buy the dips and sell the peaks, just like any stock purchase.
 
SKYDIVNEKD said:
Once you buy bit coins, like a stock, can you sell it and get cash back? Let’s say you want to make $20k. You buy $5k in bit coin. Once it hits $20k value, can you sell it and have $20k in cash?

Floyd T
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"Let’s say you want to make $20k."

if anyone should invest in any investment, at a $5K level, and sale at a $20K valuation, the level of what one would 'make' would be ~$15K, before IRS tax (within the US). Currently, crypto (gains) are subject to IRS taxation, within the US.
 
Maybe this is a dumb question or maybe it was answered. If cryptocurrency is valued by comparing it to how many dollars it’s worth. What is crypto currency actually worth?
 
jbfurdog said:
Maybe this is a dumb question or maybe it was answered. If cryptocurrency is valued by comparing it to how many dollars it’s worth. What is crypto currency actually worth?
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It depends on the crypto coin, allot of crypto people now compare coins to Bitcoin and not the USD.
 
jbfurdog said:
Maybe this is a dumb question or maybe it was answered. If cryptocurrency is valued by comparing it to how many dollars it’s worth. What is crypto currency actually worth?
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in one man's opinion, nothing

fantasy is a wonderful thing & eventually, when this entire 'crypto' thing implodes, and it will, folks will realize the only thing they are holding is the bag
 
Yep, you can day trade crypto very easily. You'll want to trade coins that are stable yet volatile, like BNB, BTC, ETH. You'll definitely need to use indicators to know when to buy/sell. Market Cipher is a really good one. Stay away from Coinbase and Robinhood, as they are designed for the retail investor who doesn't know anything about crypto. Use Binance.US if you want to trade.

Also check out www.coinmarketcap.com for a list of the coins ranked by market cap.

Some coins to watch are: Cardano, VeChain and also SafeMoon.

You can also trade with leverage through foreign exchanges, though be careful as you can get liquidated if you don't know what you're doing.

Tesla may start accepting Doge, and if they do, the price will probably hit $1 or higher. Lots of companies are starting to accept Doge.

Musk has been manipulating the Crypto market recently, which is unfortunate. Whether he knows it or not, he liquidated a ton of investors in a matter of minutes, causing them to lose a ton of money. While I like the guy, he really needs to be more tactful in what he posts on Twitter, as he's been causing some damage recently. Additionally, his most recent tweet about BTC being a consumption hog is false, as it actually uses more renewable energy than he posted. His "facts" are all wrong.

Here are some channels that post daily crypto news that you might want to watch:

Here's the guy who created Market Cipher. He will make $500k or more in a matter of hours. and he does his trades live on YouTube. He also uses leveraging.


Always be careful when investing in anything and do your research, as you can lose it all. Tough lesson to learn.
 
Curious on the reason to stay away from coinbase? I don't know how but wife has money in there but hasn't put any of our money into it?

You mention Binance , what are your thoughts on bittrex and paypal?
 
Nate1977 said:
Curious on the reason to stay away from coinbase? I don't know how but wife has money in there but hasn't put any of our money into it?

You mention Binance , what are your thoughts on bittrex and paypal?
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If you signup for Coinbase they actually have some videos you can watch to earn free coins.
 
You can go with Coinbase, however their fees are high. Not ideal if you plan on trading coins back and forth. Binance is rated the #1 exchange due to high reliability of their servers (they don't crash like Robinhood when traffic increases) and also has low fees. PayPal is not a true exchange either, more of a place to buy some money if you plan on spending crypto to buy stuff. Binance also offer trader tools, which Coinbase does not.

NFT's are now the hot thing...
 
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