Cryptocurrency - any of you guys into it?

beppi wrote:

Fred wrote:

I will - Ban the dammed things.

How can government organisations, which are per definition bound to a nation state, shut down an international, non-localized thing like cryptocurrencies?

They can't, but they can make it illegal to accept them. That won't stop criminals, but it will limit use outside criminal circles.

beppi wrote:

If you want to ban them, you should also ban the stock market

The people's flag is deepest red,
It shrouded oft our martyred dead,
And ere their limbs grew stiff and cold,
Their hearts' blood dyed its ev'ry fold.

Here we go again

https://news.bitcoin.com/us-bitcoin-atm … es-seized/

Crypto ATM company operating illegally.

beppi wrote:

Fred wrote:

I will - Ban the dammed things.

How can government organisations, which are per definition bound to a nation state, shut down an international, non-localized thing like cryptocurrencies? Here we are clearly at the limits of our world political situation. That's why cryptos will continue to exists, without regulation, oversight or a ban.
Casinos are different (and usually regulated well). If you want to ban them, you should also ban the stock market - same thing, just different marketing!

Governments can't totally shut down crypto, of course, any more than they can totally shut down any crime or scam.  But if the G7 plus China agreed on a set of measures to make crypto unconvertible for any practical legal use and coordinated their enforcement efforts, that would go a very long way toward neutering it.

You can launder money in any type of currency. Cash especially. Certain businesses. The reason the Crypto exists is to get off the fiat currency. Who are the real crooks? I'd say those printing money out of thin air and causing inflation and devaluing the dollar.

olearycm wrote:

The reason the Crypto exists is to get off the fiat currency. Who are the real crooks? I'd say those printing money out of thin air and causing inflation and devaluing the dollar.

Fiat currency is money that is authorized by a government and is not backed by a commodity or something of value.

Since Richard Nixon decoupled the dollar from gold in 1971, a system of national fiat currencies has been used globally.  Most countries base their economies on fiat currencies.

However, what backs cryptos?   Is a crypto not equivalent to a fiat currency?

Explain the difference if you can, O'Leary.

cccmedia

cccmedia wrote:

However, what backs cryptos?

A bunch of con artists - very good con artists on a grand scale, but still con artists

olearycm wrote:

You can launder money in any type of currency. Cash especially. Certain businesses. The reason the Crypto exists is to get off the fiat currency. Who are the real crooks? I'd say those printing money out of thin air and causing inflation and devaluing the dollar.

"Any type of currency"?  Not really.  Money laundering on any scale requires portability and acceptability.  If you doubt me, try depositing 1000 unrolled pennies in your US bank account, or paying for your hotel room in Budapest with a pocketful of Paraguayan Guarany notes, both entirely legitimate forms of currency for their intended purposes.  The less acceptability it has for legitimate uses, the less real utility crypto has; governments can affect that.

As for crypto vs. fiat money, you can stretch a philosophical point to near breaking in equating them, but the practical difference remains that you know who issued the latter and why;  you never know either about the former.

https://www.youtube.com/watch?v=ps147jSPDSg

Crypto currencies have been crashing.

The most famous crypto, Bitcoin, is down 50 percent in the last three months!

Dogecoin, ridiculed on Saturday Night Live, is down 72 percent.

Some cryptos are down 90 percent this year from their highs.

U.S. Senator Elizabeth Warren* has set a deadline of July 28th for the Securities and Exchange Commission or SEC to figure out how to regulate cryptos.  In a recent letter to the SEC chairman, Warren called the crypto currency markets "opaque and volatile."

She said "the lack of regulation to provide basic investor protections is unsustainable."

China has stepped up its efforts to ban the sale of cryptos.  In May, China banned financial institutions and payment companies from providing crypto services.

Source... Fortune (fortune.com)


*Elizabeth Warren is the highest-profile member of the Senate's Finance Committee.

I had around $80 lying about, back in 2020.  Stuck it into BTC, USDC and LINK in an interest bearing account; over the course of a year I saw it shoot upwards of $800 - even though values have more or less “crashed”, I’m still sitting on about $500.

Don’t “invest” anything you aren’t afraid to lose.

I tell that to people all the time i played with 4000 in april 2020 and cleared 87,000. Taxes are a bitch.

HEADS UP

Bitcoin is about to take a massive spike up, this is for those that are looking to make a killing in profit.

Saggaboy wrote:

HEADS UP

Bitcoin is about to take a massive spike up, this is for those that are looking to make a killing in profit.

For those keeping track at home of this exciting if speculative opportunity, today's value of Bitcoin is assessed at $40,923.

It was pegged at $61,762 on April 15.

Source... coinmarketcap.com

Also use poocoin. For widget on phones use cmc.  But if will not invest big enough on coins better go to tokens. Nft tokens are growing faster. But of course it will all depends on btc. If btc dipped. The value of the token will go down but will remain stable. Because of the economic of the game.

I bought some through Revolut (around 300$) just for fun, heard that crypto will rise up at the end of the year…

Which coin? If btc. Just play with it. Buy on limit not on market. But if i have that 300 ill go not to btc. Either BnB or Eth. And maybe some small amount from cardano(ADA). Bnb from 300usd now plays around 330-340. Just waiting for the dip.  Wait when the BEr months come. And youll see changes. But atm check other altcoins. BNB, xrp, usdt, ada and eth.

Go checks nft tokens too. Like axs, slp, mist, dpet, skill, zoon etc. And always dyor, dmor.

Yunei wrote:

But if i have that 300 i'll go not to btc. Either BnB or Eth.... Bnb from 300usd now plays around 330-340.

FYI, members... BnB is not AirBnB, but rather BinanceCoin USD.

On some European exchange(s), BNB is Banque Nationale De Belgique SA, trading today at 1735 Euros.

I bought into AirBnB (stock symbol ABNB) this week.  They are dominating their worldwide sub-market, attracting the lion's share of people renting out their properties.  The lessening of the pandemic in some regions has more people on the road again.

cccmedia

Investing in anything should be proportionate to how willing you are to be totally wrong and lose everything. If you know almost nothing about your investment, your only protection is being lucky.

The more you know about the investment, the more you can protect yourself. Of course, you must make yourself read counter opinions and learn whether they are true or false.

Warren Buffet only invests in a few companies, studies them deeply to make sure they are good and well run. Then he holds onto them for decades.

If you think you will buy and sell in a few months, when it explodes, then you are just gambling on bull market mania. Please do not "invest" in this way, if you will cry if the money is lost.

If you really want to invest in crypto, learn what is the basis for the crypto, what is it based on, who invested in the platform, what value do they give besides being a digital "coin", learn about the daily trading volume, and how the governance is operated. Lastly, learn what your liabilities are if you make purchases/sales. For example, taxes. Hiding your crypto isn't a tax plan.

If you aren't willing to do all that, put your entertainment money into it only.

I have invested in Bitcoin and Ethereum because they are trading very low at this point. I am positive that I will double my investment in a year and that it will be a long term investment for the next five years.

But I also invested in CashFX where you get a guaranteed ROI of around 1 percent a day, five days a week. It is based on a MLM system but I know a lot of people who doubled their investment in a year. To open an account, you need to invest $300 that you pay for in Bitcoins.

If anybody is interested s/he can contact me anytime.

@FloridaAquarius

"But I also invested in CashFX where you get a guaranteed ROI of around 1 percent a day, five days a week. It is based on a MLM system but I know a lot of people who doubled their investment in a year. To open an account, you need to invest $300 that you pay for in Bitcoins."

Well... a couple of points to consider:

1. MLM? Really? MLM = Multi Level Marketing = "pyramid scheme". Do you know that most folks who join an MLM lose money?

2. If this MLM scheme was incorporated in the USA, it would be illegal. Why? If "the opportunity for income is primarily derived by recruiting more participants or salespersons rather than by selling a product, the plan probably is illegal."

3. CashFX is incorporated in a "grey list" offshore jurisdiction (Panama), and doesn't hold any kind of license from this (or any other) country's financial regulatory authority.

4. There is a very significant difference between "guaranteed" and "promised".

5. There are many way to lose money trading Forex, but most Forex companies at least put your initial deposit in your trading account. It appears that CashFx doesn't even do this (as they're using my account deposit to pay your commission).

It is amazing how gullible and unquestioning some people are when you promise them financial gains.
It seems greed switches off common sense!
(1%/day is a good joke - and all MLM is cheat.)

I can understand your concerns and I shared them as well. But I have seen the income that a friend of mine generated and I know him for many years. The primary income is an interest on the money you deposited. When you sign up other people, you get a bonus from that and from people that he signs up. So in that aspect it is a MLM scheme.

I have friends who invested $5.000 in similar schemes and never were able to pull out any money. But I have seen the account of the person who signed me up and he das definately pulled out twice as much money in one year than he has invested.

I started with $300 and already made $100 in the first two month.

If I am not mistaken, then the owner is a Dominican who lives in Punta Cana.

My guess is that the people who run the site are trying to raise bitcoins, since you have to buy "packets" of different "values" with bitcoins. But that's just a guess.

Of course, the whole scheme could end up like the one with Bernie Madoff, where everybody left their money in the system until the bubble burst. But there is always risk in life.

FloridaAquarius wrote:

I can understand your concerns and I shared them as well. But I have seen the income that a friend of mine generated and I know him for many years. The primary income is an interest on the money you deposited. When you sign up other people, you get a bonus from that and from people that he signs up. So in that aspect it is a MLM scheme.

I have friends who invested $5.000 in similar schemes and never were able to pull out any money. But I have seen the account of the person who signed me up and he das definately pulled out twice as much money in one year than he has invested.

Of course, the whole scheme could end up like the one with Bernie Madoff, where everybody left their money in the system until the bubble burst. But there is always risk in life.

Interesting that you should mention Bernie Madoff.  A lot of his early investors did pull out more money than they put in, before the whole house of cards collapsed.  They're still being pursued to have their profits clawed back and redistributed.

FloridaAquarius wrote:

I have invested in Bitcoin and Ethereum because they are trading very low at this point. I am positive that I will double my investment in a year and that it will be a long term investment for the next five years.

Oh yeah?  Well, that's just like your opinion, man.

***

If you want for long term i think c98 and ADA will be a good start.  But if you will be a day trader go for eth, bnb and btc.

Poster Yunei today recommended C98 as a long-term hold.

C98 also known as Coin 98 spiked higher the last week of July .. and has mostly been drifting downward since then.

According to coingecko.com, C98 is an "all-in-one DeFi platform that aims to fill untapped demand in the industry and become a gateway bridging TradFi users to any services on multiple blockchains."

If that seems logical to any readers, maybe somebody can get lucky by guessing when the current swoon by C98 is likely to stop .. and then buy low and sell high for a tidy profit.

C98 traded above two dollars briefly last month .. and is trading under $1.20 US now.  So one can theoretically buy tens of thousands of Coin98 for the price of one BitCoin.

cccmedia

Yunei also recommended a long-term hold on ADA, not to be confused with the Americans with Disabilities Act.

ADA is Cardano, which, according to coingecko.com, "is a smart contracts platform" whose "open source code has been peer-reviewed, a first in the cryptocurrency space."  Cardano is named for a leading mathematician of 16th century Italy.

While C98 has been dropping in price, ADA has been on a fairly steady rise since late July.  It's trading around $1.72 US.

So maybe somebody can jump on ADA's increasing-value bandwagon and ride it to long-term success.

cccmedia

I hope everyone has made their choices by now, there's huge profits to be made if you know the right coins to purchase.

...And huge profits at the racetrack if you know which horse to bet on.

... And huge profits at the casino if you know which number is coming up.

Yo guys sorry i was kinda busy. Anyways here are the updates.

XRP, ADA, C98 and BnB did a good job for the past week. But BnB went so wild. From 330 usd now plays at 400usd.

USDT/USDC well, they're the balance players. Plays around 0.9 usd to 1.01 usd.

Btc aims to hit 100k this year.
This is my opinion from each coins.

XRP - BUY / SELL
ADA - HOLD OR STAKE
C98 - BUY/SELL
BNB - 50/50 HOLD OR Buy/sell

BTC - DEFINITELY WILL BUY LOW AND HOLD. 😆


ALWAYS REMEMBER! “Only invest what you can afford to lose”

A very good opportunity for the average guy and gal to hit the jack pot.

I brought different coins all over even Hyperfund too.

BNB going up more than 500$ soon. I feel BNB going to come back to the May month level.

Also, I suggest buying Shiba Inu and Pancake (Cake) as well because both have been audited and the Defi operator.

XRP is a good bet, DOGE, too. Ethereum is expected to enter a new level this year.

I don't suggest anything and try more farming or liquidation pool to earn more coins.

I am not your advisor and you can invest what you can and do not invest that you cannot afford to lose.

Helloo, so which crypto currency you suggest us to invest into ?? And how much ??
I want to invest in holograms companies as well, do you suggest any ???

Monawazne wrote:

Helloo, so which crypto currency you suggest us to invest into ?? And how much ??

Invest the same (small) amount in all available cryptocurrencies! Then you have the fun of following each of them on the way up and down - and you are less likely to lose all or most of it.
(Of course, still only invest what you can afford to lose. If you don‘t have any to lose, stick to safer investments!)

Heads up,

Don't be surprise if Bitcoin takes a temporary sharp dip, then do a moon shop to December. Those who are holding the right coins will have a Happy Crypto Christmas.

I'm interested but not active because I have no idea where to start or what I'm doing in that world. Any recommendations?

The tutorial Cryptocurrency for Dummies, by Romj Amon.

Free if googled at... techjury cryptocurrency for dummies romj amon