Cryptocurrency

And so we learn more. Nice link. Thank you.
If I had a worry from the spiritual potential viewpoint is that things are happening so fast that unless one can afford the time to keep up with everything, their knowledge will be very patchy. This might undo the hope of bringing people together with control of the Powers that Be.

What I'm unsure about is the "why" of Bitcoin Gold? BTG. It seems the main advantage will be to the miners, not the basic holders of BTC.

[Gemcrusader]

BCG seems to do what bitcoin cant. Faster transactions and what not :p. Bitcoin itself is allready quite lacking in terms of use. Its just the name etc. that keeps it going. Its a store of value but in terms of payment its unsuited.

[Gemcrusader]

First performance on the vibehub VR platform executed

https://twitter.com/VibeHubVR/status/941872134036402176

(the one i mentioned some months ago, and u could v made 7x with it allready...:p)

The way BTC has gone of late....sheesh! When my bitcoins were bought for a couple of quid each 5 or 6 years ago, I don't think even my dad expected them to reach
almost £15,000 = 1 BTC. Possibly a bubble. But they're there.

[markings]

Originally Posted by Gemcrusader

So ive been investing a little here and there and so far im only a couple hundred down HA! Learned a lot. And expecting to get some gains in the future. But who cares. Its only money. :p

One needs to realize, or find out that there are two kind of Bitcoin exchanges, to stay with Bitcoin. Note that this is my own terminology.

There are trading exchanges like e.g. www dot plus500 dot com. Here you open a position and if the result is favorable you close it at a win. However, the open positions have a limited lifetime. If you reach that then it will be closed automatically, at whatever price, unless you extend the open position but that will costs a maintenance fee. The exchange makes money through the spread, the difference between buy and sell price, buy always being higher.

Then there are investment exchanges like e.g. www dot luno dot com. You invest the money and leave it there as long as you want. In a rising market the value will increase. At any time you can cash out at the current price. The exchange makes money by charging a small percentage like 1% whenever you buy Bitcoins.

[markings]

How safe is Bitcoin?

Probably safer than the investment in Zimbabwe dollars which some may have had. Inflation, zero or negative interest rates are the governments' ways to steal your money legally.

The risk may be similar to the stock market where it is also possible to lose ones investment from one day to another as the Steinhoff debacle has illustrated.

As long as one knows the login credentials, user name and password, one's crypto holdings look safe, but isn't really. You should only invest on exchanges which provide 2FA (2 Factor Authentication). This should keep your money reasonably safe, except when you die. If no one knows the login credentials your investment is lost.

[markings]

How to pass on one's crypto holding safely to the intended person(s) is actually a big problem.
Storing the login credentials in an in-house safe, or a safe deposit box in a bank are both problematic. Having it in the will of course equally, if not more so.
I am only beginning to think about this problem but I think it needs to be something like 2FA. The user name is usually an email address, something one can find out relatively easy. The password is the problem and my idea is to split it in two. One half is kept in the safe at home, the other half is in the will. Or the will contains the password, encrypted in some way, and the instructions how to decrypt it are in possession of the person who is the intended recipient. Working through the will of course will then make it part of the estate.

[markings]

Lastly, for today, I don't believe that illicit and illegal transactions from more than a minuscule part of Bitcoin traffic.
Most of the traffic must come from genuine sources. Most transactions are in the order of 0.03 to 0.05 bitcoins, about 1000USD. If that comes from crooks it must be small time ones.

Final point. At luno you can start with as little as 1 USD. Can you afford not to invest in this exceptional opportunity? Once the value has doubled, which happened in the last 3 months you can withdraw your initial investment, and still have Bitcoins to the value of your invested capital. When the whole thing crashes, as some predict, you will not be worse off than if you let this opportunity pass. Your capital will be at risk for maybe 3 to 4 months, assuming the current trajectory continues.

[markings]

Final final point, LOL, if you want to try for the first time

Do NOT subscribe to exchanges where they ask you for a phone number as part of registering, unless you are determined to trade there.
If you don't trade they will hound you for days, 3 to 4 times a day, even with calls from across halfway the world.

[Gemcrusader]

Originally Posted by Lorelyen

The way BTC has gone of late....sheesh! When my bitcoins were bought for a couple of quid each 5 or 6 years ago, I don't think even my dad expected them to reach
almost £15,000 = 1 BTC. Possibly a bubble. But they're there.

People come in who only care bout money, so yeah that will create a bubble. But not a bad thing (just for some, but that will be their own responsibility. They will be the heroes, since they will take the sword (on soul level)
When it pops crypto will get its permanent foot in the ground. Bitcoin is the digital gold, since eveything is measured against it (in crypto). Its like the bridge tween internetmoney(crypto) and real world money (fiat)

Its just the beginning. So 100k is very possible imo. (not advice, just a guess)

I allready see (litterally) the energy/structure shift that comes with crypto.