Crypto currency, yeah, that is a great idea

[oldag]

https://www.foxnews.com/tech/crypto...s-needed-to-unlock-customers-190m-reports-say

 

[AustinN4]

Why anyone thought this was smart is beyond me.

 

[Darkpriest667]

The first rule of crypto is never store your coins on exchanges, you'll ALWAYS lose them.


This is actually good for holders of crypto. Everytime some crypto is lost in oblivion the scarcity increases and the value of your own crypto goes up.

I'm sorry for all the dummies who don't understand the reason for crypto (INDIVIDUAL LIBERTY FROM BIG FINANCIAL INSTITUTIONS) because if they did they'd never be holding their money on anything but a USB key wallet with backups.

 

[vmax]

I'm not a big enough "dummie" to have a significant part of my wealth dependent upon someone else holding a password and it could just poof and be gone forever.
That's just freaking stupid

 

[DD130]

Why anyone thought this was smart is beyond me.

I know a lot of "smart tech people" who are 1000% in the bag on all this blockchain bullshit. Let's just ignore that it takes almost Moore's Law paced power to keep ALL of the ledgers in up to date. The massive power required now to "mine" this junk is now driving a bunch of the speculators out of business to the the power bills. I might not have gotten in when the getting was good, and got out with a few hundreds of millions of dollars... at least I can rest assured I never fell for this very complex Ponzi scheme.

 

[MTA]

I still have no idea how any of this works

 

[avvidclif]

VooDoo

 

[Darkpriest667]

I still have no idea how any of this works

Yes you do lol and if you don't I can explain it to you in 3 minutes at the next meet.

 

[toddnjoyce]

I still have no idea how any of this works

Math ‘n stuff.

 

[oldag]

The first rule of crypto is never store your coins on exchanges, you'll ALWAYS lose them.


This is actually good for holders of crypto. Everytime some crypto is lost in oblivion the scarcity increases and the value of your own crypto goes up.

I'm sorry for all the dummies who don't understand the reason for crypto (INDIVIDUAL LIBERTY FROM BIG FINANCIAL INSTITUTIONS) because if they did they'd never be holding their money on anything but a USB key wallet with backups.

It is risky enough holding money backed by the good faith of a government.

Crypto currency backed by absolutely nothing? Can be wiped out with a mere static spark?

No thanks.

 

[HKShooter65]

I spent $550 on ammo Saturday.
Currency of the future or noisy fun next weekend.
Whichever comes first.

Include me out on the cryptocurrency thing.
An obvious Ponzi-Bubble. Or is it Bublé if you saw that commercial during the lessthansuperbowl.

 

[DD130]

I still have no idea how any of this works

It's incredibly inefficient. When people are having to buy $10k video graphics card to run the ledgers... it's jumped the shark.

 

[DD130]

I spent $550 on ammo Saturday.
Currency of the future or noisy fun next weekend.

just put some "currency" in "the bank" myself this weekend.

 

[Mowingmaniac 24/7]

Yes, it'll damn sure increase in value!!!!!

 

[Dawico]

Y'all can have that crypto currency crap. I am investing all my money in emus, the other red meat.

At least when it tanks I can eat a bird.

 

[EZ-E]

Were so much in debt as a country our paper money ain't worth crap. If this thing hits rock bottom... water, gold, silver, ammo & booze will be your best currency.

 

[diesel1959]

The whole idea of cryptocurrency drives me bonkers. Issuance of currency is the job of a government. Folks that seek to use crypto are, in many cases, trying to hide something . . . whether it be the use of the Silk Road (back when it was up and running), or whatever might have replaced it, they're trying to avoid the light of day ever getting into their "bizness". One day, the IRS will put its foot down even harder than they've begun to do on the whole shitpile. Only one word describes cryptocurrency for me . . . and that's "SHENANIGANS!"

 

[oldag]

Now some are saying the money is stolen, not just locked up. May have been transferred to another account.

 

[toddnjoyce]

Now some are saying the money is stolen, not just locked up. May have been transferred to another account.

Well, when someone doesn’t give back what’s rightfully yours after promising safekeeping, that does fit the definition.

Wonder if we’ll ever see a FDIC type guarantee for crypto ‘banks’ to opt in to in exchange for storing a safe key to return the accounts to the owners.

 

[Darkpriest667]

Well, when someone doesn’t give back what’s rightfully yours after promising safekeeping, that does fit the definition.

Wonder if we’ll ever see a FDIC type guarantee for crypto ‘banks’ to opt in to in exchange for storing a safe key to return the accounts to the owners.

If the exchange like GDAX (coinbase) in the United States it's regulated by the SEC. Non US exchanges are not. AGAIN, anyone who has an iq above 50 knows not to leave any funds in an exchange unless they want to lose them. Regardless of your feelings on cryptocurrency, it's absolutely safer than trusting the banking cartels which have manipulated currency for over 100 years.

You guys trust a Reserve system that's allowed the US govt to go 22 trillion in debt with over 125 trillion in unfunded liabilities more than you trust yourself who is REQUIRED to stay out of too much debt? OK LOL