- Nov 20, 2017
- 545
- 372
Lol. What you are suggesting now are the things I kept on digging for years. Even had a master degree for that. I guess I should stop here before things go awkward. Nice weekend still!
Cryptocurrency may be a scam after all
- Thread starter bartosimpsonio
- Start date
Lol. What you are suggesting now are the things I kept on digging for years. Even had a master degree for that. I guess I should stop here before things go awkward. Nice weekend still!
Alright so you can make it easy on all of us by explaining it, just a small summary sir, thanks
And how are you going to get your money from decentralised exchanged should bitcoin get banned by regulations ?
You even think arround the corner?
USA282
Senior Member
- Dec 18, 2016
- 917
- 784
Hey, I remember you were very much into crypto back in 2017. What made you change your mind?
paja93
Power Member
- Aug 11, 2016
- 736
- 632
Converting bitcoin to fiat is unimportant. Goal is to stack as much you can and that's exactly what i'm doing. And if you really want, it will get easier over time. If you haven't heard, Croatia post offices are now converting coins to local fiat. It's a matter of time before it spreads to other parts of the world.
unknownsmmers
BANNED
- Aug 6, 2019
- 1,232
- 612
I think most areas are starting to adopt crypto taxes too, so they aren't shafted while targeting
Same thing as with most of these guys, they lost some money and now they are bitter about it. You have got to see the bigger picture here and also learn that we are still very early. There is still a lot of opportunities to make some money here with smart investments. Pension funds are investing in Bitcoin. Institutional investors are buying Bitcoin futures, Google is investing in cryptocurrency. I mean.. we are just getting started. So you lost some money, big deal, get over it and stop being so bitter. Lets make some money together
Able to think properly ?If bitcoin gets banned by regulations in future you think croation post office will keep accepting bitcoin ?
steroidjoe
Regular Member
- Apr 26, 2015
- 264
- 113
That's why I never invested alt crypto. BTC is monopoly, what non-business don't understand.
paja93
Power Member
- Aug 11, 2016
- 736
- 632
It won't get banned by any regulations, even if some countries do it, most of them WON't because there is a opportunity for everyone, even for them. And regulations are bullshit, no one can stop you from using it.
You clearly have no understanding of monetary system.An opportunity LOL
Oh yeah the opportunity for the government must be better than just printing new fresh money which gets accepted everywhere.
People like you will get rekkt in the end not understanding what bitcoin is at all
paja93
Power Member
- Aug 11, 2016
- 736
- 632
The point is that they have to evolve, they don't have any options. Paper money in a digital world? It's a matter of time before we connectect ourselves to computers and you believe that we will continue to use some papers as currency? Nobody is going to get rekt, some of us will just get earlier in the game. No one is pushing you, it's your future after all. Good luck with your worthless fiat.
- Mar 21, 2013
- 24,780
- 31,549
The stablecoins. They're fake. Once I figured out how it works i think it's a complete fraud.
Yes. You are absolutely correct. And exchanges like Binance and BitFinex will eventually be taken down. And the people who are operating them will go to jail. Cryptocurrencies will probably take a big hit from this and trust will go down.
Sadly.. no one is realizing that this is Exactly what is going on with central banks and the US dollar. Boom / Bust / Boom / Bust, and the rich get richer, and poor get poorer and no one is going to jail for this. No one is even talking about it. No one is even allowed to check what the Federal Reserve is doing. "But im not an American, why should I care?" -Well unless you live in North Korea, Iran or Cuba, unfortunately, you are shit out of luck since they control all central banks. It used to be Afghanistan, Libya and Iraq too but we all know what happened to them..
IG Growth
BANNED - Account Sold by Owner
- Jul 2, 2019
- 414
- 303
The subject is very subjective. Cryptocurrencies emerged as we all know as an alternative to avoid using banks. In this way we have to have some risk that in this case would be the value for me, which in this case is normally reflected in dollars.
Cryptocurrencies although we do not create them are methods that protect our privacy and allow us to create a solid financial system among what fits. But this that is constantly changing price without knowing what it is based on directly is something that leaves us metaphorically speaking "With the ass in the air"
Cryptocurrencies although we do not create them are methods that protect our privacy and allow us to create a solid financial system among what fits. But this that is constantly changing price without knowing what it is based on directly is something that leaves us metaphorically speaking "With the ass in the air"
- Mar 21, 2013
- 24,780
- 31,549
It's similar but not exactly like it. The dollar is audited and when dollars get printed everyone knows the Fed is doing it and will honor those treasuries. The dollar becomes debt.
With stable coins there is nothing. No one knows who prints them, they're hidden in tens of countries all over the world, no audit has ever been done.
Essentially stable coins are like counterfeit currency.
iggyTheDog
Newbie
- Jan 23, 2019
- 5
- 0
First of all let me say that I've never used or owned any cryptocurrency. I come from the IT field though and I know how they work.
As a lot of people said before me, money in general is a scam. We print papers and agree they have x value. They don't have it inherently.
Once upon a time, a country could print money only if it had gold to back it up. Now that's not true anymore, so goverments (actually the private banks that print money for them) make money appear from thin air.
Even when the gold standard was a thing though, have you ever considered why gold is expensive? Easy one, because it's hard to find. But how we determine the exact price of gold? We don't, we just decide it.
Gold, paper money, bitcoin, oil, stocks, all tradeable assets can be and are manipulated by the big players so that they can profit. Markets are like poker in a way. How much does a pair of eights cost? If you have 10$ worth of chips and 3 people before you raised you are most likely folding. But if you are the chip leader you are definetely playing a pair of 8s, you decide how much they cost and, most likely, profit from them.
All this though doesn't have to do with the actual thing being traded/gambled/manipulated. The fact that the sterling is a scam is not because of the LIBOR scandal for example. Its because, in essence, it's a useless piece of paper with some funny guys printed on it that someone decides that they can make more of just because they can, and we all agreed they are valuable.
In that essence, bitcoin is the least scamy of all money. No one can print bitcoin because he wants too. We need to solve a hard mathematical equation to produce 1 Bitcoin. It's actual labour that produces it, and those who put on the labour take the fraction they helped create. This doesn't happen with any other money, asset, good or service.
Bitcoin trading now, yes, that can be made a scam by some. But that's not inherrent in bitcoin. Bitcoin was not made to be traded like a market asset though. So no, Bitcoin is not a scam.
As a lot of people said before me, money in general is a scam. We print papers and agree they have x value. They don't have it inherently.
Once upon a time, a country could print money only if it had gold to back it up. Now that's not true anymore, so goverments (actually the private banks that print money for them) make money appear from thin air.
Even when the gold standard was a thing though, have you ever considered why gold is expensive? Easy one, because it's hard to find. But how we determine the exact price of gold? We don't, we just decide it.
Gold, paper money, bitcoin, oil, stocks, all tradeable assets can be and are manipulated by the big players so that they can profit. Markets are like poker in a way. How much does a pair of eights cost? If you have 10$ worth of chips and 3 people before you raised you are most likely folding. But if you are the chip leader you are definetely playing a pair of 8s, you decide how much they cost and, most likely, profit from them.
All this though doesn't have to do with the actual thing being traded/gambled/manipulated. The fact that the sterling is a scam is not because of the LIBOR scandal for example. Its because, in essence, it's a useless piece of paper with some funny guys printed on it that someone decides that they can make more of just because they can, and we all agreed they are valuable.
In that essence, bitcoin is the least scamy of all money. No one can print bitcoin because he wants too. We need to solve a hard mathematical equation to produce 1 Bitcoin. It's actual labour that produces it, and those who put on the labour take the fraction they helped create. This doesn't happen with any other money, asset, good or service.
Bitcoin trading now, yes, that can be made a scam by some. But that's not inherrent in bitcoin. Bitcoin was not made to be traded like a market asset though. So no, Bitcoin is not a scam.