cryptocurrency and bitcoin

eskbanker

Adyinvestment said:

unfortunately this forum has proven itself to be hostile with all things Crypto

'This forum' obviously doesn't speak with a unified voice, so the fact that every crypto thread induces a wide range of views doesn't mean that any of them should be seen as representative....

Adyinvestment

eskbanker said:

'This forum' obviously doesn't speak with a unified voice, so the fact that every crypto thread induces a wide range of views doesn't mean that any of them should be seen as representative....

I for one have found it near impossible to have a constructive discussion about Crypto on this forum, I know it does not represent the forum in whole but there are posters here that will not discuss and only call it all a scam, gamble etc

I have found the bias here to be heavily against.

eskbanker

Adyinvestment said:

eskbanker said:

'This forum' obviously doesn't speak with a unified voice, so the fact that every crypto thread induces a wide range of views doesn't mean that any of them should be seen as representative....

I for one have found it near impossible to have a constructive discussion about Crypto on this forum, I know it does not represent the forum in whole but there are posters here that will not discuss and only call it all a scam, gamble etc

I have found the bias here to be heavily against.

Despite my comment about a wide range of views, it's undoubtedly true that most of them are at one extreme or the other!

HunterBurgan

tebbins said:

If you don't understand Bitcoin, avoid it like the plague, especially with Bitcoin. Your post indicates you so not understand it nearly well enough and if you try to "invest" it Bitcoin with that level of knowledge I'd be worried you'd get scammed.

There are several investors on info-wars that keep recomending it

Thrugelmir

Adyinvestment said:

eskbanker said:

'This forum' obviously doesn't speak with a unified voice, so the fact that every crypto thread induces a wide range of views doesn't mean that any of them should be seen as representative....

I for one have found it near impossible to have a constructive discussion about Crypto on this forum, I know it does not represent the forum in whole but there are posters here that will not discuss and only call it all a scam, gamble etc

I have found the bias here to be heavily against.

Anything which fluctuates wildly in value on a daily basis can only be viewed as speculation. Will appeal those who llike to take a gamble, and view it as an effortless way of getting rich quick.  All trades have 2 parties.  As a result people getting their fingers burnt is inevitable. 

grumiofoundation

HunterBurgan said:

tebbins said:

If you don't understand Bitcoin, avoid it like the plague, especially with Bitcoin. Your post indicates you so not understand it nearly well enough and if you try to "invest" it Bitcoin with that level of knowledge I'd be worried you'd get scammed.

There are several investors on info-wars that keep recomending it

Right..... 

HunterBurgan

RolandFlagg said:

Bitcoin is based on Blockchain tech.

Explained here:
https://www.youtube.com/watch?v=Pl8OlkkwRpc&ab_channel=TED

Crypto as an investment explained here:
https://www.youtube.com/watch?v=qsFw7N4TuGo&ab_channel=FLAIA

I watched the first video and all that I can make out of it is that it looks like a market place to buy and sell non non physical virtual goods

Question: if someone buys bit-coin from a broker then what dose bit-coin have as assets to back its self up? Is it the currency used to purchase the bit coin in the first place? If so what can the broker do with the currency/ money they recived from the buyer in the first place?

msallen

HunterBurgan said:

Question: if someone buys bit-coin from a broker then what dose bit-coin have as assets to back its self up? Is it the currency used to purchase the bit coin in the first place? If so what can the broker do with the currency/ money they recived from the buyer in the first place?

There is nothing "backing up" bitcoin. There are no underlying assets, it is only ever worth what someone else will pay for it.

A broker will by definition pass on the proceeds of the sale to the seller, less the commission that they charge for facilitating the deal. They can do whatever they want with their cut as can the seller.

You really need to give up the idea of investing in anything non-mainstream until/unless you understand what you are doing, and the questions you ask (about both cryptocurrencies and gold) imply you are years away from that. Learn more about what you are already invested in first.

Hansplace

Just my observation from the charts and social media

Yes it is a ponzi but who cares if you can make money before the ponzi falls.
First time ponzi was when bitcoin fell from $1300 to about $200 in 2013-2014
Second time ponzi was when bitcoin fell from $19000 to $3000 in 2017-2018
And yes based on the 4 year timing, we will have another ponzi in 2021-2022

Zola.

Read the bitcoin standard and layered money first.