bitcoin trading.
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Total crytpo currency market cap currently stands at around $372 billion.
Are you seriously suggesting that is mostly down to criminal activity?
Also you initially made the statement about links to crime so how about you post some data and facts to back up your statement and drop the arrogant, patronising attitude.
My statement regarding Fiat and banks links to criminal activity is factually accurate, for example HSBC laundering money for drug cartels.
The market cap is caused by people buying the crypto's in the hope that they will increase in price - a bit like peiople bought cabbage patch dolls a few years ago. I doubt that even 1% of the market cap is linked to actual usage as a currency, and would expect that most of that usage will be for criminal or tax evasion reasons.0 -
In other words it's a non-issue in the grand scheme of such things.'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB0
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In other words it's a non-issue in the grand scheme of such things.
In that very little crypto-currency is used to purchase illegal goods, or in that very little crypto-currency is used to purchase anything?I am an Independent Financial Adviser. Any comments I make here are intended for information / discussion only. Nothing I post here should be construed as advice. If you are looking for individual financial advice, please contact a local Independent Financial Adviser.0 -
Even if true, that wouldn't follow. If 1% of bitcoin transactions are legitimate currency use, while, say, 9% of transactions are for criminal purposes, that would still mean that 90% of the actual use as a currency would be criminal, which is important. The same applies if the levels were 0.1% and 0.9%, i.e. if (as seems likely) 99% of the trades are purely speculative in nature. The underlying asset's use is important when considering long-term prospects, because, if the criminal currency transactions outweigh the legitimate ones by an order of magnitude, you can guarantee that governments will do their best to shut down the cryptocurrency one way or another.In other words it's a non-issue in the grand scheme of such things.
No claims as to the figures either way, just commenting that it really does matter in the grand scheme of things even if the speculative purchases currently dominate the use of the asset as a pseudo currency by a long way.I am a Chartered Financial Planner
Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.0 -
Either, either, or. It should be obvious to anyone not afflicted with crypto rage that it's cause, contribution and effect, at present, on anything related to criminality activity are negligible in aggregate.
Perhaps the issue is that fiat crooks are simply a better class of criminal.'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB0 -
The market cap is caused by people buying the crypto's in the hope that they will increase in price - a bit like peiople bought cabbage patch dolls a few years ago. I doubt that even 1% of the market cap is linked to actual usage as a currency, and would expect that most of that usage will be for criminal or tax evasion reasons.
Kind of like any other investment then.0 -
Kind of like any other investment then.
Not really. The majority of investments are bought with the objective of obtaining an income stream rather than a capital gain.
e.g. Global Bond Market $100tn vs Global Equity Market $69tnI am an Independent Financial Adviser. Any comments I make here are intended for information / discussion only. Nothing I post here should be construed as advice. If you are looking for individual financial advice, please contact a local Independent Financial Adviser.0 -
HappyHarry wrote: »Not really. The majority of investments are bought with the objective of obtaining an income stream rather than a capital gain.
e.g. Global Bond Market $100tn vs Global Equity Market $69tn
So you are not aware that there crypto currencies that pay a dividend based on funds held e.g. Komodo.0 -
I for one wasn't aware. Do they pay the dividends in a standard currency? If not (i.e. if they pay a dividend in the form of more coins) then it's not really a dividend at all, but more akin to a share split / issue.So you are not aware that there crypto currencies that pay a dividend based on funds held e.g. Komodo.I am a Chartered Financial Planner
Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.0 -
I for one wasn't aware. Do they pay the dividends in a standard currency? If not (i.e. if they pay a dividend in the form of more coins) then it's not really a dividend at all, but more akin to a share split / issue.
OK so basically it works like this:
and then you money.
If you want to try and get your head around that chart see here: https://forum.supernet.org/t/supernet-revenue-flow-chart/265
The short answer is that the 5% supposedly comes from transaction fees collected via another cryptocurrency token.
If not enough people use that cryptocurrency token to generate sufficient transaction fees to pay Komodo investors' 5% "interest", then... well, we all know how that story ends.0
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