Crypto

WGTX said:
I have bought and sold a little for several years <10k. The only one I've held is XRP. Like it or not some form of crypto is where the entire global banking industry is headed, we've been using digital currency for a long time. I never actually see pay checks, seldom any kind of payment, only write 1 or 2 checks a year. As far as being wiped out due to an emp or something, as long as you transfer from your exchange onto a cold wallet you will always have your "crypto "- it's just code like a serial number.
Click to expand...
I'm not sure we are headed that way. We do digital transfers of dollars still and no a single crypto can do it as fast or as many time a day.
 
The fact that the two greatest minds of our time that have been right not just once or twice but 50 years overall. Have stated many times that it is a ponzi. If the only value it brings is the hope someone will buy it for more than you paid at a later date it's a ponzi.
 
snox801 said:
So kinda what my credit card will do but much slower.
Credit cards can process transactions at a much faster rate. It's accepted all over the world. Heck it's every bit as fast as buying something when I'm in the states. And all the exchange rates are done.

Crypto does nothing a credit card doesn't already do. It just wastes an incredible amount of resources and raises out power bills. It's only gonna be worth someone as long as you get a sucker to buy it at a higher price later. Kinda sounds like a ponzi.
Second thing I don't like about it is most of the young adults under 30 have crypto as the only form of retirement. Think of that. Imagine what's gonna happen when they all start to retire and have to sell to survive?

Some ponzi just online than others. But if something creates no goods or services what is it really worth? If it was a currency sure but until people use it as that and not a buy now sell higher later thing it's never gonna be currency either
Click to expand...
No offense, but you're incorrect about the value and utility of crypto, especially in the financial world. The SWIFT system currently used globally for financial transfers between banking institutions is anything but swift. Major banks are beginning to shift over to crypto transfers because it happens in seconds, not days. Might I recommend some research on XRP? It will provide a broader understanding of how crypto can (and is) used.
 
mongo4567 said:
Do a lot of research and only risk what you are willing to lose.
Click to expand...
Yeah, agreed, I did a flyer in Bitcoin. About two weeks ago. I put $1,000. Thought it would do? It cost $17 fee. It was then at $983. Now, two weeks later it is at $890. Hmm, should I bail out? Or hope it will get better?
 
I have never invested in the stock market, just real estate. I knew real estate. I could buy a property and paint it and make money.

However I never understood how I could paint a stock certificate and make money. With stock I have no control, just stand back and hope. That stance never worked with me.
 
gafrapster said:
No offense, but you're incorrect about the value and utility of crypto, especially in the financial world. The SWIFT system currently used globally for financial transfers between banking institutions is anything but swift. Major banks are beginning to shift over to crypto transfers because it happens in seconds, not days. Might I recommend some research on XRP? It will provide a broader understanding of how crypto can (and is) used.
Click to expand...
Can you post any data. I have done some decent research and as of this past spring I stil was not able to find anything crypto does better than my credit card for transactions. It's infinitely slower with how many transactions per minute can be done.

It may be better for transfer of money like bank transfers but it's sold to the public as currency. Which for that purpose my credit card is much faster and taken almost everywhere?
Let's be realistic and how many of us have had to make larger transfers globally? I certainly never had anything I couldn't give my credit card info and it was done instantly without having to worry if 20 percent of my purchasing power would be wiped out by tomorrow.

The fact that buffet and monger have the same opinion about crypto and they tend to be better at researching these things than any of us tells me what I need to know. No amount of research into xpr or ripple will change the basics facts I stated earlier. Your argument is akin to pointing out how many people got rich on a Ponzi scheme. People do get rich and I wish I would have gotten into btc early but I didn't and if I did it would have Been out long ago.
 
Marplot said:
I have never invested in the stock market, just real estate. I knew real estate. I could buy a property and paint it and make money.

However I never understood how I could paint a stock certificate and make money. With stock I have no control, just stand back and hope. That stance never worked with me.
Click to expand...
Well you got one thing correct never invest in anything you don't understand. You and buffet have the same thoughts.
 
I time to invest in crypto is long gone, I'd rather buy gold now.
 
Please explain how crypto and bitcoin are better than any other form of money.

When I say better, I mean for all people. Not just people that know the program.

Faster transactions is not a valid response. We're consuming resources faster than any time in human history, and that ain't a good thing.

And before you provide your answers, consider this:

A wise Native American Chief one said "it takes few words to tell the truth".
 

Similar threads

PBramble
Corner crossing case
4 5 6
Replies
70
Views
5K
Mike Matteson
M
J
Creative Gift Ideas: Redefining Creativity
Replies
0
Views
1K
Jamesb
J
FEENIX
Constructive criticism ...
3 4 5
Replies
59
Views
6K
Country Bumpkin
Country Bumpkin
Mikecr
Capitalist creed:
Replies
0
Views
1K
Mikecr
Mikecr
ButterBean
Giving Credit Where Credit Is Due
2
Replies
16
Views
3K
Muddyboots
M

Recent Posts

Back
Top