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Taking advantage of cryptocurrency

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  • jamest88 said:
    I have seen a lot of people who often confuse crypto with Ponzi schemes. I can't get but ponder how buying, storing and selling BTC or other cryptocurrencies like ETH, SOL and XRP is related to Ponzi scheme. 
    I think it's high time people realize the opportunity in Crypto and tag along. Any thought on this? Feel free to share.
    It works on supply and demand the exact same way as stocks and shares work. Some of the technology in crypto is crazy but it is so new and not adopted yet. I’m keeping an eye on chain link as I think without a way to communicate between websites and the crypto networks then most of the projects down have many real life use cases. With chain link it would be possible to hook into the gov database of house sales and automatically pay out to the correct people as soon as the contracts are signed online. This could speed up so many industries in the future. As a software dev it gets me very excited but trying to explain some of the complexities of it to non technical people is hard. 

    Most people have only heard bad things on the news such as SBF FTX etc and won’t do any more research themselves. Been in crypto since 2017 and wish I had bought a full bitcoin. Kicking myself now!
    Sorry for the double post but also the decentralised aspec of it should be interesting to everybody. A money that cannot be manipulated by the government can only be good surely? Especially as we move to more digital payments and cash is disappearing 
    Software developer
  • zagfles
    zagfles Posts: 21,409 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Chutzpah Haggler
    jamest88 said:
    jamest88 said:
    I have seen a lot of people who often confuse crypto with Ponzi schemes. I can't get but ponder how buying, storing and selling BTC or other cryptocurrencies like ETH, SOL and XRP is related to Ponzi scheme. 
    I think it's high time people realize the opportunity in Crypto and tag along. Any thought on this? Feel free to share.
    It works on supply and demand the exact same way as stocks and shares work. Some of the technology in crypto is crazy but it is so new and not adopted yet. I’m keeping an eye on chain link as I think without a way to communicate between websites and the crypto networks then most of the projects down have many real life use cases. With chain link it would be possible to hook into the gov database of house sales and automatically pay out to the correct people as soon as the contracts are signed online. This could speed up so many industries in the future. As a software dev it gets me very excited but trying to explain some of the complexities of it to non technical people is hard. 

    Most people have only heard bad things on the news such as SBF FTX etc and won’t do any more research themselves. Been in crypto since 2017 and wish I had bought a full bitcoin. Kicking myself now!
    Sorry for the double post but also the decentralised aspec of it should be interesting to everybody. A money that cannot be manipulated by the government can only be good surely? Especially as we move to more digital payments and cash is disappearing 
    Instead it's manipulated by speculators, rampers and criminals amongst others. A money that trebles in value one year and well over halves the next is completely useless as a currency. Nobody with any sense is going to trade in a currency that's so unstable.
    If it ever stablises it may be interesting. But while you get people who think they'll 5x their investment in 18 months (seriously, see the other thread I linked) the market will just be driven by speculators not those who want to make serious use of it as a currency.
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