Big investors in crypto coin market

a reply to: one4all

Crypto-currency is imaginary.....its fiat its not based upon anything.

Big news for you but not for the rest of us, US$ is FIAT, too. FIAT in general isn't based on anything other than acceptance.

Bitcoin and alternatives gain acceptance day by day, steady, since years. The profit gains are not imaginary. I rather trade crypto than stocks where jobs are crushed by the market alone.

The only thing I dislike is I can not hold it in my physical wallet unlike the other FIAT. I dislike digital currency but I know it can not be stopped. What you wrote was my opinion for years. Then I started to read into it and saw the benefits and possibilities beyond the financial value alone. So I rather invest now than be sorry later.

Currently I make far more from passive trading than my garage makes and that one is booming too. If the part delivery chain wouldn't be crippled like it is, I could finish a few projects.. Until then I am fine with trading because suddenly I can aquire an AWD dynometer (after taxes).

So if it works and I profit so I can re-invest in my business, I would be dumb to not do it.

originally posted by: NightVision
a reply to: ThatDamnDuckAgain

See next post

originally posted by: ThatDamnDuckAgain
a reply to: one4all

Crypto-currency is imaginary.....its fiat its not based upon anything.

Big news for you but not for the rest of us, US$ is FIAT, too. FIAT in general isn't based on anything other than acceptance.

Bitcoin and alternatives gain acceptance day by day, steady, since years. The profit gains are not imaginary. I rather trade crypto than stocks where jobs are crushed by the market alone.

The only thing I dislike is I can not hold it in my physical wallet unlike the other FIAT. I dislike digital currency but I know it can not be stopped. What you wrote was my opinion for years. Then I started to read into it and saw the benefits and possibilities beyond the financial value alone. So I rather invest now than be sorry later.

Currently I make far more from passive trading than my garage makes and that one is booming too. If the part delivery chain wouldn't be crippled like it is, I could finish a few projects.. Until then I am fine with trading because suddenly I can aquire an AWD dynometer (after taxes).

So if it works and I profit so I can re-invest in my business, I would be dumb to not do it.

I agree with damn near every point you have made here, where's a good source I should read/research if I want to dabble in crypto.

a reply to: NightVision

The real question in my mind is who is going to set up the US-wide payment infrastructure for ppl to use it?

This already exists.

If your bitcoin is worth X-amt before you buy a Coke and Y after, how do you earn public confidence in it?

This is a good question. I think once the amount of transactions consists predominantly of normal everyday transactions like what people do with their debit card or credit card and the sheer volume reaches a certain level the value will stabilize.

They are all technically worth nothing if they aren't backed by gold but then again, Gold only has value because we assign it value.

Try mining just one bit coin. Then have a look at your electric bill.

The sheer amount of money people paid in energy costs to mine them will give them worth at least in their eyes and as such they would be reluctant to sell them for any less than what they put into them. This would give bit coin a base worth. Otherwise it will float just like the dollar, except unlike the dollar which can be printed into oblivion, there are only and can only be 21 million in existence. This has huge implications and a potential to murder any fiat currency. Strange times ahead indeed.

originally posted by: ThatDamnDuckAgain
a reply to: one4all

Crypto-currency is imaginary.....its fiat its not based upon anything.

Big news for you but not for the rest of us, US$ is FIAT, too. FIAT in general isn't based on anything other than acceptance.

Bitcoin and alternatives gain acceptance day by day, steady, since years. The profit gains are not imaginary. I rather trade crypto than stocks where jobs are crushed by the market alone.

The only thing I dislike is I can not hold it in my physical wallet unlike the other FIAT. I dislike digital currency but I know it can not be stopped. What you wrote was my opinion for years. Then I started to read into it and saw the benefits and possibilities beyond the financial value alone. So I rather invest now than be sorry later.

Currently I make far more from passive trading than my garage makes and that one is booming too. If the part delivery chain wouldn't be crippled like it is, I could finish a few projects.. Until then I am fine with trading because suddenly I can aquire an AWD dynometer (after taxes).

So if it works and I profit so I can re-invest in my business, I would be dumb to not do it.

The Model is not sustainable....it can only exist if one fiat method replaces another fiat method.....this is simply digital fiat money....and it will soon be gone.... I dont doubt people are seeing gains and are ammassing digital fortunes....but its all a sham.....its a bubble.

If you take an empty jar and convince a few People to agree with you that the "nothingness" inside the Jar is worth ONE DOLLAR..... you have started a Ponzi Scheme.....then when enough people agree that the empty Jar is worth ONE DOLLAR they will generate enough momentum to convince evenmore people the empty Jar is realy worth 2 dollars....and everything begins rolling from there.

Problem is this.

2 Trillion empty Jars are still 2 Trillion empty Jars in REALITY.... and once those "empty Jars" or that FIAT CURRENCY begins to be exchanged agreeably for HARD ASSETS....like ANYTHING THATS NOT IMAGINARY LIKE THE FIAT CURRENCY IS....we see the beginnings of a Global Hemmorage....there arent enough hard assets to cover the digital currency bets....just like right now there are more Silver Certificates issued than there is physical silver available to fulfill those contracts..... the word speculation comes into play.....

I see where this is going....I have watched it from the beginning to....some wise ones will have already cashed out and into hard assets....why do you think all the viable land on all continents is being snapped up now at a record pace.

Once they begin to run out of hard asset options which will happen very very soon than they will turn to the Precious Metals and thats when it will all fall down at once....the Big Dogs will try to stay away from the Precious Metals threshhold because it will destroy them....but crypto-currency speculation is forcing everyone to the brink of that precipice at lightening speeds today.....the Global Economy is a closed System....Crypto and other fiat currency scams will never work long term as we have already learned...this is simply a digital version of old fiat paper money.....its still going down the toilet soon IMHO.

These are interesting times for sure.

a reply to: putnam6

Look into how bitcoin works and compare to ethereum, what's different ask yourself. Then look at other coins like xrp or iota that one doesn't need mining.

There are coins for many things, ethereum could be used for contracts, insurances and stuff you would nerd a notary.

The reason a notary even exist is a trusted person that acts as a middle man to frame the contract and guarantee its untouched and valid.

Ethereum can and will replace old systems like that. I rather trust 100k computers that verified it to the last bit and saved into eternity than some notary where I don't know how long he will be in business or who comes next after him or her.

Even more so on current times where a lot of people are afraid to even meet. Even without, the technology will succeed.

I'm not even touch the financial side. This is just the possibility system's like that bring.

a reply to: ThatDamnDuckAgain

Thanks, man this is appreciated very much.

Went to coinmarketcap.com... while researching and was blown away, had no idea there were so many.

a reply to: putnam6
No big deal, just don't take it as financial advice.

There are some soccer clubs that have tokens now. Could be a gold pit or a money trap.