Cryptocurrency

[markings]

Crypto is real money, that is why it is convertible at a moments notice.
Its value is dependent on supply and demand, market forces, which is the mantra of many economists.

There is nothing behind crypto currencies but since the gold standard was abandoned by Nixon, and thereafter by almost all countries, fiat money has equally nothing behind it. What is the difference between fiat and crypto money? None, because the government guarantees behind fiat money are not worth the paper they are written on.
It is Russia and China which buy huge quantities of gold. One day they might produce their own gold backed currency and sit pretty.

Central banks have flooded the market with fiat money which only a few in the market make use of. One of the users are governments which can increase their debt without having to pay interest on it - for now. If anything is a bubble waiting to burst then that is.

Other users of zero rate interest money are corporations which use it to buy up companies at inflated prices, and squeeze maximum profit out of it and in the end asset strip them.

The ordinary man in the street can only see his life savings and his pension evaporate through inflation, charges and fees on the little money he still calls his own.

[running]

Originally Posted by Gemcrusader

Ok, this is just starting to become mainstream. Which means its still NOT mainstream. The birth of this has taken place and before that it was the pregnancy.
So... if any understands cryptocurrency, fine. If not here is 1 vid:

https://www.youtube.com/watch?v=bA4TDo2PWvA

I allways thought that bitcoins were given out by some sort of company that just wanted to push a virtual coin. Because of this i never looked into it, thus never thought this would have a chance.
This is not how it works!
Its based on decentralised ownership. Which means no one holds power over it and thus everybody has power over it.

Bitcoin is just one cryptocurrency, there are others and many more. Also with different technology.

This technology is IMV the start of a new world, or the fuel of a new world. Were powerstructures are no longer present, cause lets face it, these are mostly build on... money.

What i feel like, these new cryptocurrencies stand much closer if not are within us spiritually...

This technology has direct contact with the spiritual realms. Now might sound crazy but its not... I cant quite explain it yet. Though i am very excited about it.
Ok, one explanation is that all the transactions are DONE trough us! THERE IS NO BANK OR MIDDLEMAN! Meaning that all the money circulates trough us!
AND NOT TROUGH BANKS!
This is why these are powerstructures. ALL the money goes to them and them only and we have to ask to act upon our request. With cryptocoins WE ARE THE BANK.

much of this i agree with. the problem is though this is the beginning of a larger problem. the goverment wants people to get in on this for now. to get used to the idea of not using cash.

once that has been accomplished there will be goverment issue crypto. India has already gotten away from cash. the benefit is complete control over the people. some call it the mark of the beast. if you think for a moment goverments and banks are going to just stand by and lose all power. may i suggest read your history.

currencys come and go with the wind. one store of money does not. with a track history of 5000 years. gold and silver. plus it has value because it actually is something. plus it has rarity, and desirability,

[Brucely]

Unfortunately now that bitcoin is getting attention, its impossible for most people to invest in. One bitcoin cost tens of thousands of dollars. Not many people have that much money laying around, let alone risking it. Also, i cant imagine a store saying "this drink costs .00001 bitcoin" sure there are other cryptos, but nobody would wanna exchange their money for some obscure crypto that there are hundreds to choose from. Its bitcoin or nothing. And its not really used to buy stuff, just to invest in like a stock. IMO its all being built up to crash and then the major players will rise from the ashes.

And has anybody heard of the 1988 publication of THE ECONOMIST? It predicts this whole bitcoin fiasco being mainstream in 2018. Yup, they predicted 30 years into the future. Something about world currencies dying and a world currency rising. Conspiracy theorists are going crazy over this, but i think think it plays into the 'being built up to crash' theory

[markings]

Originally Posted by Brucely

Unfortunately now that bitcoin is getting attention, its impossible for most people to invest in. One bitcoin cost tens of thousands of dollars. Not many people have that much money laying around, let alone risking it.

On many exchanges the minimum one has to initially invest is 100 to 250 USD. However there are other exchanges where one can start with as little as 1 USD. You simply buy part of a Bitcoin.

Also, i cant imagine a store saying "this drink costs .00001 bitcoin" sure there are other cryptos, but nobody would wanna exchange their money for some obscure crypto that there are hundreds to choose from. Its bitcoin or nothing.

This may be true for trading but is quite irrelevant for investing.
BTW, there are something like 5000 crypto currencies now.

Like all investments it will be a good idea to spread the money among cryptos as well as different exchanges. Each exchange is independent of the others, and has its own prices, and of course fees.

[Brucely]

Originally Posted by markings

On many exchanges the minimum one has to initially invest is 100 to 250 USD. However there are other exchanges where one can start with as little as 1 USD. You simply buy part of a Bitcoin.

This may be true for trading but is quite irrelevant for investing.
BTW, there are something like 5000 crypto currencies now.

Like all investments it will be a good idea to spread the money among cryptos as well as different exchanges. Each exchange is independent of the others, and has its own prices, and of course fees.

5000? This is the problem, its become its own sector. This is like the internet craze before the bubble burst, all these companies with nothing but an idea. Cryptos are supposed to be a currency, but they obviously know nobody would exchange real money to buy stuff with their crypto. Its just 5000 CEO's who invested a little money to start a company with nothing in hopes of getting rich quick.

[Gemcrusader]

Originally Posted by Brucely

5000? This is the problem, its become its own sector. This is like the internet craze before the bubble burst, all these companies with nothing but an idea. Cryptos are supposed to be a currency, but they obviously know nobody would exchange real money to buy stuff with their crypto. Its just 5000 CEO's who invested a little money to start a company with nothing in hopes of getting rich quick.

Lot of shi*coins. Only 300 or so is relevant. And its not 5000but around 1300

Ethereum is the game maker, companies build projects on it and create their own token. 2018 gonne be interesting to see most evolving into reality.Or failing...

[akez24]

what data they mining?

identity theft is the info bitcoin is based on
credit fraud. its probs illegal and stuff

the value is not nothing- its soliciting people info with no warrant as basis

somebodys robbin somebody, thats why its anonymous.

as all, itll be cool

[markings]

Originally Posted by akez24

what data they mining?

identity theft is the info bitcoin is based on
credit fraud. its probs illegal and stuff

If you don't know what you are talking about you should remain quiet.

[Nature Grows]

Can someone explain what Bitcoin is exactly & how it works? or any good links about it..... i have been hearing about it a bit these last couple of weeks... so far i have heard this...stuff.

1. Someone told me they have made 19 grand off bitcoin, they also said you need to know a lot of computer stuff and have computers set up to "mine for bitcoin" ...... huh? (they could not explain it to me cause there boy friend does it for them)

2. Someone else told me they have made 1 million off bitcoin, they said you don't have to "mine for bitcoin" you can buy it? this person also said bitcoin is not going to last forever its temporary so people should try not miss out?

3. Bitcoin seems to be going in two directions with what people think... some people say bitcoin is what you need to get into right now because the economy is going to crash and this bitcoin stuff cannot be controlled by government, other people say that it's possibly set up by the government or as soon as you see people like the roth childs getting involved in it you know its not going to be good.

So what the heck?

This thread as a whole should give you a clue. Basically it's "money" that exists only in digital form. There are no notes or coins. You can buy bitcoins at an exchange using your $ or £, thereafter it exists only on computers. You keep them in a "wallet" that can also be on-line or in hardware form. Mine is hardware, the safest because no one can get to my bitcoins without my authority.

Transactions are anonymous unless you just happen to know the person you're dealing with. You are a bitcoin address (or several addresses).

The point is that banks (that control the flow of "ordinary" money in the world) are omitted completely. Their oft-times corrupt ways and fees are avoided. In cryptos (bitcoin etc) you are your own bank.

It's a volatile currency compared with say standard currencies like the $ or £ so against those it goes up and down fairly violently.

It's a bit late to get in on it now. It could rise in value - and it could fall. At the beginning of September it was about £3000 against £1 sterling. Last week it hit £14,000 = £1. Now it's subsided a bit.

My own involvement started with my dad having a punt on it back in 2011 when 1 bitcoin cost nearer to £1. Some of his clients were interested and predicted it would gain in popularity. It has. We put some money in it together. Now it's risen considerably in value.

It isn't the only cryptocurrency - there are many but it's the best known.

Mining is about taking a fee for registering transactions on a "blockchain", a huge ledger. It records addresses but not who they belong to. Miners use a powerful computer and have to solve various algorithms to get their fee.

Best to look that one up "Bitcoin mining" if you're really interested. I can't do it much justice here. I'm not a bitcoin miner.

Hope that helps as a start.