J
Jester
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Lost in the 60's
Well travelled
- Location
- Mobile, Alabama
My assessment of crypto currency is that it's fake money that some people have managed to convince other people that it's real. I wouldn't touch it with a ten foot pole.
Andy131
Well travelled
- Location
- Manchester UK
From what I understand, there is a limited amount of a specific bitcoin, so unlike conventional currency when the authorities need more they are stuffed - currently if the govt. wants more money it just prints it. Problem being the currency (in your pocket) then is worth less as there is more of it about.
Now any currency (bitcoin, dollars, euro, pounds) is only worth what the markets think what it's worth - ie if the market thinks that the controller of that currency is going to dump a load of it or print more of it then the market will get rid before the proverbial hits the fan. At that point the currency concerned drops in value as nobody wants it.
My son has "invested"£3,000 in bitcoin at the beginning of the year - probably worth £30 now Ah well there's always the bank of Mum & Dad
Now any currency (bitcoin, dollars, euro, pounds) is only worth what the markets think what it's worth - ie if the market thinks that the controller of that currency is going to dump a load of it or print more of it then the market will get rid before the proverbial hits the fan. At that point the currency concerned drops in value as nobody wants it.
My son has "invested"£3,000 in bitcoin at the beginning of the year - probably worth £30 now Ah well there's always the bank of Mum & Dad
Roy Gavin
Well travelled
- Location
- Adelaide Australia
In every scheme there has to be losers in order for there to be winners, so it is always a gamble.
And good advice on gambling is to only have a serious bet when you know more than the people who are setting the odds.
And with crypto few will even know who they are.
And good advice on gambling is to only have a serious bet when you know more than the people who are setting the odds.
And with crypto few will even know who they are.
- Location
- Yuba City, CA
I used to mine, had a few BTC but I cashed out last year. I don't trust crypto in the long run, even tho it made me some decent money.
Cpt.Sparkles
Well travelled
- Location
- Underground Bunker
Bitcoin is an interesting idea but still fiat.
NFTs are hype that mostly attract new-money & kids.
FTX was a joke & a warning against unregulated markets.
NFTs are hype that mostly attract new-money & kids.
FTX was a joke & a warning against unregulated markets.
m1ckDELTA
Well travelled
- Location
- Someplace better.
Google FTX and Alameda Research, you will learn everything you need to know about crypto. Crypto is one of the greatest scams in human history.