K
King-Kong
Guest
Is their anyone that understands this and can explain how it works simply?
Does anyone actually understand bitcoin?
no, I do not. No regulations around it for one thing.
I do like the 2 oz gold bit coins that are being produced. Good conversation piece and I do watch the precious metals market.
10 Reasons Bitcoin Is a Terrible Investment | The Motley Fool
Last edited:
Yes, that is 100% correct and if invested wisely, any individual will earn a nice amount on that investment!
Yea I’m not sure about that “invest wisely”
It speculation at best . They are many digital currencies currently
Money is mostly made from time in the market not timing the market and of course a need for the product
The volatility is a big concern .
Elon musk doesn’t like it , it tanks
If the same happened to the US dollar the country would be trouble
Can you imagine Kanye saying this $100 dollar bill sux and the US dollar losing value? It would be disasterous
Once the country’s reserve bank or the IMF flags acceptance it will create stable value
The ONLY bitcoins I'll buy .... I have about $40,000 in gold certificates & 22 kt gold coins. And I plan to purchase $2-3 thousand a year more until I'm about 10 years from retirement, based on the current market values. "Buy low, sell high"!
Last edited:
It is true though that regarding cryptocurrency that IF you do not know what you are doing, you can lose some money! Now, I say "some" because over the years, bitcoin and some of the other altcoins have lost a lot of money over the years and the MOST that Bitcoin has lost in one year was 60% and then you had some, who are beginners in the market, felt that they should sell or get out of the market entirely! The BIGGEST mistake that anyone can make in crypto is this, when the market has a massive dip like Bitcoin has like I was stating when it lost 60%, bitcoin rose back to even and more than 80% gain! Then, the very next day after that, Bitcoin went up another 80%, which that was due to the "Halving" process, which many earned thousands or more at the time two days after the big Bitcoin dip, so you always stay in the market!
There was another coin though that earned 30x times more than Bitcoin, which SO MANY missed out on and that coin was: Ethereum! The reasons why that happened is because Ethereum's blockchain uses smart contracts, plus so many other coins use the Ethereum blockchain such as Chainlink, BAT (Basic Attention Token), Decentraland, Kyber Network, and etc. Oh, and cannot forget about DeFi! Oh my goodness, Defi is going to turn the financial sector completely upside down! I am looking forward to that! So EXCITED!!
Last edited:
This may be a little long since I have so much to say about cryptocurrency, so in regards to the volatility of cryptocurrency, that is the BEST part that I LOVE about cryptocurrency because it cannot be EASILY manipulated and makes it harder for the Wall Street greed to predict if a coin will stay in the green or not! Most may not like it though that crypto is so volatile, but I understand it being that I was involved in it back when crypto was a "baby" or when Bitcoin was a single penny back in 2009! Elon Musk? Yea, I remember what he said about Bitcoin not being eco-friendly, but most people that know a lot about cryptocurrency, like myself, knows that Bitcoin uses renewable sources. Most are NOT aware of that though! And, with Elon Musk saying what he said, "Why didn't he sell ALL of the Bitcoin that he purchased?" Of course, he would not sell Bitcoin because he knows that crypto is the future, and not ONLY that, he knows how much Bitcoin will be priced in the future years down the road, so Elon isn't that DUMB!
But, what Elon Musk does NOT know and many others who are on the outside looking in, something is going to happen to Bitcoin this year and most that have not purchased Bitcoin this year will WISH that he or she did after this "event" happens! Those in the crypto sphere know exactly what I'm referring too, even those who are close to the crypto experts like myself!
But, what Elon Musk does NOT know and many others who are on the outside looking in, something is going to happen to Bitcoin this year and most that have not purchased Bitcoin this year will WISH that he or she did after this "event" happens! Those in the crypto sphere know exactly what I'm referring too, even those who are close to the crypto experts like myself!
Last edited:
By the way, the Central Bank WILL NOT accept Bitcoin because the Federal Reserve has talked about creating their own coin, which I figured they would try to do kind of like what China has done when they created their own digital yuan! Now, the banks have accepted using Bitcoin (though not sure how many), but everybody knows that will still not control the volatility of Bitcoin because of this simple reason: it's decentralized, which is VERY important! So, therefore, volatility will ALWAYS be a part of the cryptocurrency market, which is NEEDED 100%! That's the beauty of the market and Charlie Shrem even STATED that whom we call "The Godfather of Crypto"!
One other thing before I stop my post, the people that try to purchase a share of Bitcoin or another cryptocurrency through stocks or an ETF is NOT contributing to the cryptocurrency market whatsoever! In order to do that, you HAVE to purchase either coin inside an exchange, period, because that not ONLY contributes to the market, but it also helps the technology that is behind crypto and the MAIN ENGINE for crypto, which is the blockchain! Charlie Shrem and Vitalik Buterin STATES that as well as the founder of Binance: Changpeng Zhao!
One other thing before I stop my post, the people that try to purchase a share of Bitcoin or another cryptocurrency through stocks or an ETF is NOT contributing to the cryptocurrency market whatsoever! In order to do that, you HAVE to purchase either coin inside an exchange, period, because that not ONLY contributes to the market, but it also helps the technology that is behind crypto and the MAIN ENGINE for crypto, which is the blockchain! Charlie Shrem and Vitalik Buterin STATES that as well as the founder of Binance: Changpeng Zhao!
Last edited:
This gentleman, Michael Saylor, sure loves Bitcoin and I can understand why! Offering the Senior secured notes to purchase some more Bitcoin!!
MicroStrategy Announces Proposed Private Offering of $400 Million of Senior Secured Notes
MicroStrategy Announces Proposed Private Offering of $400 Million of Senior Secured Notes
Money used to be something tangible. There were gold and silver certificates and they could be exchanged for gold or silver. I can take my gold or silver pretty much any place in the world and exchange it for currency. Now we have Federal Reserve Notes. The are really just "Blue Sky" the US government says they are legal tender for all debts public and private and are accepted in most places of the world and can be converted to local currency. Cryptocurrency like Bit Coin are also "Blue Sky" however no major government backs them and they only have any value if all the parties involved agree on their validity.
If you owe me a thousand dollars I can accept payment in gold or silver,however the the United States you can't legally use gold or silver for money. You can sell the metal and pay your debt with that cash. I can accept the metal in trade but am under no obligation to do so. If you give me cash I must accept that to pay the debt. The courts would hold that if I refuse your cash the debt would be nullified because you tendered payment and I refused. If you offer to pay the debt with a cryptocurrency like Bit Coin I am free to refuse and the courts would hold at least for now that you would still owe the debt
The only real difference between cryptocurrencies and government issued currencies is who is saying that it is money. I don't trust cryptocurrency and don't owe any. The most recent wild card to the cryptocurrency world is quantum computing. Encryption that a few years ago was considered unbreakable is now vulnerable to quantum computer and there are bad actors in hostile states that will take advantage
If you owe me a thousand dollars I can accept payment in gold or silver,however the the United States you can't legally use gold or silver for money. You can sell the metal and pay your debt with that cash. I can accept the metal in trade but am under no obligation to do so. If you give me cash I must accept that to pay the debt. The courts would hold that if I refuse your cash the debt would be nullified because you tendered payment and I refused. If you offer to pay the debt with a cryptocurrency like Bit Coin I am free to refuse and the courts would hold at least for now that you would still owe the debt
The only real difference between cryptocurrencies and government issued currencies is who is saying that it is money. I don't trust cryptocurrency and don't owe any. The most recent wild card to the cryptocurrency world is quantum computing. Encryption that a few years ago was considered unbreakable is now vulnerable to quantum computer and there are bad actors in hostile states that will take advantage
Like your last point. As a second year teacher I don't have it to lose.
Cryptocurrency was actually developed for the average person because how corrupt the government is as well as the banking industry! Why do you think China and other countries have been trying to ban crypto and even the banking sector, today, is scared of cryptocurrency, which is a good thing! Now, you will have PLENTY of people who believe that it is better NOT to get into cryptocurrency, which is entirely fine just like most of the big hedge fund owners were saying! Even the CEO of JPMorgan kept saying how cryptocurrency will "NOT LAST", and yet he has decided to get into cryptocurrency! Lmao, never ceases to amaze me how so many really ASSUME they know what cryptocurrency is about, when he or she DOES NOT not! Many are clueless about what the blockchain can do and most are definitely clueless about DeFI!
I will state this though and this is happening RIGHT NOW, whereas many Americans are NOT AWARE, the DeFi market is happening at a RAPID PACE and WILL turn the banking industry upside down just like the Blockchain will! Looks like though that Blockchain will add $1.76 trillion to the Global GDP by 2030! I assume ya'll will still be skeptical around 2030 too, huh?
I will state this though and this is happening RIGHT NOW, whereas many Americans are NOT AWARE, the DeFi market is happening at a RAPID PACE and WILL turn the banking industry upside down just like the Blockchain will! Looks like though that Blockchain will add $1.76 trillion to the Global GDP by 2030! I assume ya'll will still be skeptical around 2030 too, huh?
By the way, for those that love or ADDICTED to gold (for some reason), Bitcoin has been compared to gold and plenty billionaires would prefer Bitcoin OVER Gold because Bitcoin is a better "store of value"! By the way, Quantum computing CANNOT break cryptocurrencies, period, just to let the crypto beginners know! Better yet, this article explains it perfectly well especially the last paragraph:
Here’s Why Quantum Computing Will Not Break Cryptocurrencies (forbes.com)
Billionaire Mark Cuban Says Bitcoin Is ‘Better Than Gold’ | Cryptoglobe
Here’s Why Quantum Computing Will Not Break Cryptocurrencies (forbes.com)
Billionaire Mark Cuban Says Bitcoin Is ‘Better Than Gold’ | Cryptoglobe
Last edited:
One of the selling points with cryptocurrencies is that it is untraceable. The recent ransomware attacks have clearly demonstrated that this is not the case. Most of the 30 million or in Bitcoin was recovered in less than 10 days. As to cryptocurrency being unbreakable by quantum computers I would disagree. The financial resource advisors I use feel that no cryptocurrency in invulnerable to a quantum computer hacking it, unless the cryptocurrency ID generated by a quantum computer. That Bitcoin is a better "store of value" than metals is almost laughable. The only major players that are investing in Bitcoin are looking for a quick score. Elon Musk clearly demonstrated that when he waffled on accepting Bitcoin for payment of Tesla's. Did you notice how Bitcoin dropped when he said he was unloading some of his Bitcoin? I wish I would have had a couple of hundred thousand when it became legal to own gold and it sold for $35.00 an ounce. But you buy your cryptocurrency and I will buy gold, silver and platinum. Metal is always a good investment. Good money can even be made from iron and copper if you buy it at the right time and have a place to store ir
No, cryptocurrency CAN be traceable! I know that, for sure, because whenever I need to look up anything monetarily on the Blockchain, I can find it! It's very simple because it is public! You see, the only cryptocurrency that isn't traceable would be if the particular coin using technology that is exclusively private such as Monero! Just depends on if it's what we call: a privacy coin! Yes, you are correct that Bitcoin went down after Elon Musk stated what he said, BUT you may not know this, but Bitcoin was increasing back then BEFORE Elon Musk even was interested in Bitcoin, so the crypto market isn't really dictated on what a Rich individual does because the MAIN thing that caused Bitcoin to drop further is because of what is happening in China pertaining to the miners! But, I will state this though, when the upgrade for Bitcoin is added, Bitcoin will explode because of the Taproot upgrade! Many do not know what the Taproot upgrade is as well as the actual date when that will occur! The financial advisors?? They are clueless when it comes to cryptocurrency! I would BET you that they weren't even using cryptocurrency, or Bitcoin for that matter, when it was invented back in 2009! I know more about it than they do as well as the various upgrades that happen to various coin's blockchains, and I had to know that information because my profession started using crypto back in 2009 back when they were offering Airdrops for Bitcoin! Lol, yep, way back in the day, hehe! I wish that I would have accepted the free Airdrop that some crypto owners were offering back then! 1000 BTC at 0.001 back then whereas NOW? Goodness, I would have been sitting on at least $100-200 million dollars or more like my other business partner, who accepted the Airdrop offer! By the way, Ethereum will jump back too also because it has an upgrade in its code that will take affect next month! Something that not very many who like Bitcoin even know anything about! Oh, yes, I will keep buying cryptocurrency like Mark Cuban, Ray Dalio, Michael Saylor, and etc. And, crypto is the future as well too just ask Michael Saylor and the billionaire Marc Lasry who stated this: "He regrets not buying MORE Bitcoin!"
