IT BEGINS !!

Discussion in 'Digital Currencies' started by SilverSale, Dec 22, 2019.

  1. crewy

    crewy Active Member

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    Cryptos a casino atm, use cases on the horizon but not a lot supporting current prices. When the sector gets regulated and CBDCs start being rolled out the bubble will pop. Until then there’s money to be made, but it’s a highly volatile and manipulated space to put your money IMO. Great tech and innovation being developed right now though, which will eventually be stolen by Govts...lol, free R&D!
     
  2. mmm....shiney!

    mmm....shiney! Administrator Staff Member

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    Can you explain to me how the roll-out of CBDCs will pop the crypto market?
     
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  3. alor

    alor Well-Known Member Silver Stacker

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    nice hair style
     
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  4. mmm....shiney!

    mmm....shiney! Administrator Staff Member

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    It’s a change in value systems.

    The stone-age didn’t end because of a shortage of stones. On the one hand we have individuals willing to adopt a new paradigm, while on the other we have those that value the existing ways.

    In the evolution of the species, it always ends badly for those that can’t adapt. ;)
     
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  5. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    Fair point.
    I am open to the possibility of the monetary system evolving.
    Change is constant. Systems are always dynamically evolving with time.
    I'd even go so far as to guess it is inevitable.

    This is arguable.
    You are implying that everyone must either get on-board the BTC/crypto train now, or forever live like a peasant.
    Again, it echoes of the PM permabull rhetoric of the past (and present), and I seem to have outperformed them OK so far.
    IMHO, regulation in some form won't allow those endowed with crypto to evolve as the elites.
    It would be akin to the Govt losing control (not happening).
    It also would be political suicide.
    I have mentioned before that I think crypto will eventually be Govt controlled, and I still see it working out that way.
     
  6. mmm....shiney!

    mmm....shiney! Administrator Staff Member

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    For sure it’s arguable.

    But tell me, what else has emerged that offers any real threat to the centralised power structure we have? Gold doesn’t because all it can offer is a commodity backed centralised currency.

    BTC is a shift in our value systems first and foremost, then it’s a wealth play.

    Here’s a task for you @wrcmad, your kids are a bit younger than mine I’d say, but ask them what they think of Bitcoin. Are they intrigued, supportive, hostile, excited?

    And then think about this - “The day I start growing old is the day I become resistant to change.”
     
  7. mmm....shiney!

    mmm....shiney! Administrator Staff Member

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    Bitcoin is the 60’s all over again, minus the sex and the drugs.

    But at least the hygiene is better. :p
     
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  8. crewy

    crewy Active Member

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    I see CBDCs being rolled out along side restrictions on their conversion into or from ‘unauthorised blockchains’. Not for all blockchain projects, but each will need to be regulated/monitored. Exchanges becoming heavily regulated banks essentially. Bitcoin could keep its title as digital gold, not sure about lightning network turning it into a currency though.
     
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  9. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    Agree. I never believed gold was any threat - that was stomped out in 1934.

    Probably a bad example using my kids:
    Eldest is 21, and he doesn't care about anything that he can't pant.
    Next, daughter who has no idea what crypto is, and wouldn't know it unless it snap-chatted her on her iphone, or she met it a party.
    Youngest, 16 - he might give a rats-ass if BTC was released as an X-Box game.

    I'm not resistant. It simply serves no purpose for me ATM.
     
    Last edited: Mar 18, 2021
  10. mmm....shiney!

    mmm....shiney! Administrator Staff Member

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    Restrictions upon the capacity to own/buy cryptos can be introduced without the introduction of CBDCs.
     
  11. mmm....shiney!

    mmm....shiney! Administrator Staff Member

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    ^ this bit.

    The virtual is becoming valued.
     
  12. BuggedOut

    BuggedOut Well-Known Member Silver Stacker

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    Sounds like the youngest will come across game-based NFTs and will get exposure to blockchain that way within the next couple years.

    He might not even know, nor care that they're running on blockchain tech, but he'll understand enough to know how and why the NFTs hold value and how to transact (and play) with them.
     
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  13. SodaPop

    SodaPop Member

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    They are trying to strangle crypto with regulations and it is hurting the adoption a bit I would say. That being said just offload any crypto profits into tangible real world stuff like gold and silver and you have best of both worlds. A lot of people think the crypto money is actually being used as a sink for the currency inflation we are seeing worldwide and that is why it has been left alone for now.

    If you want to keep printing money backed on nothing what else could be better than all that money being tied up back in banks, if they ever pull the rug on crypto how much money is then just "lost" ? Easy currency deflation? Just a theory. Obviously a lot of that extra currency is ending up in the stock market.
     
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  14. precious roar

    precious roar Active Member

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    I'd rather the sex and drugs.
     
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  15. crewy

    crewy Active Member

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    Don't feel they are strangling crytpos, rather creating and profiting off the volatility. And learning from the industry and tech to implement into their own centralised CBDCs and blockchains (ie XRP). Alot more money to be made being trading short/long/scalping sideways, rather then HODLing long term IMO.

    Understand restrictions can be put in place prior to CBDCs (privacy coins right now for example), however ultimately they can't stop people. With CBDCs and programmable money they can and will. A while to go yet though and will be a wild ride, if you can make some money through the volatility then good luck to ya! But lets not pretend you are buying the token/coin/blockchain to use it for anything other then speculation right now, which will change in the future of course when use cases become apparent. But right now its gambling and manipulation.
     
  16. mmm....shiney!

    mmm....shiney! Administrator Staff Member

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    HODLING has been shown to be the most valuable long term strategy.

    And again, CBDCs have nothing at all to do with any potential regulation or restriction on cryptos. They are a completely different issue and are not being considered as a policy response to the advent of cryptos. They are being investigated as a means to exchange funds between CBs and the banking industry and possibly between CBs and householders, something which central banks cannot do at the moment.

    Okay, now you're claiming to understand the mindset of those in the crypto sphere yet your understanding of the space is misguided eg your claims of manipulation being a prime example. You got any proof of manipulation?

    And tell me one asset that we don't buy speculating on a capital gain, whether that's in the value of the asset itself or in the potential for it to provide an income. RE? Speculative. Shares? Speculative. Gold? Speculative. Silver? Speculative.
     
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  17. mmm....shiney!

    mmm....shiney! Administrator Staff Member

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    Screen Shot 2021-03-27 at 9.18.15 am.png

    It doesn't take "much".
     
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  18. hawkeye1

    hawkeye1 Active Member

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    I'm not saying that, I am saying that it is the smart thing to put a percentage of your portfolio in BTC now. Even if it's only 1%. I mean, the potential upside compared to potential loss (pretty much nothing), kind of makes it a no-brainer honestly. It's what is known in the trade as an asymmetric bet.

    Think back to 2008 when CDS's suddenly exploded in value. BTC is in many ways analogous to being a hedge on the system as a whole.

    Good for you. But I wouldn't equate it to the PM rhetoric. There's an entire financial system being built around it. That never happened with PM's. And I don't ever remember Wall Street or public Sector companies becoming keen on PM's either. Don't get too wrapped up in the Gold 2.0 narrative. Bitcoin is far, far more than that. And forget rhetoric and just research it and figure it out for yourself.

    I think there is a saying about better to remain silent and be thought a fool than opening your mouth and removing all doubt. If you aren't interested in crypto, wrcmad, then my advice is to go away because you just sound ignorant. If you are interested, do some research. It's not that hard.
     
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  19. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    I had given you a like before reading your closing remarks.
    Now you can bite me, and go f$%# yourself.
    This forum is part of my research..... and I just had some of my wavering views about cryptobugs confirmed.
    Now that you have declared you want to exclude any balanced narrative, I'll hang around and lob my thoughts in every now and then. ;)
     
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  20. mmm....shiney!

    mmm....shiney! Administrator Staff Member

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    The echoes of the PM permabull rhetoric only ring briefly. Goldbugs continually looked to the past to justify their position. BTC looks to the future.

    The crypto market is Gold 2.0 on the treasury level. But it's also Contract Law 2.0, Banking 2.0, Finance 2.0, Compliance 2.0, Providence 2.0, Provenance 2.0 etc etc etc. This is why it's more than just permabull rhetoric, it's revolutionary.
     

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