Anyone into Cryto currency?

[allan]

Re: Anyone into Crypto currency?

The reason I got into bitcoin was motivated by the weakening South-African Rand. The economy is taking the same route as Zimbabwe, farmers are about to loose there land, something the ANC government calls "Land Expropriation without Compensation. Zimbabwe is now begging for the farmers to return. They left for Zambia were they had record produce export year after year ever since being forcefully removed from there land. Leaving money in a savings account only gives me 6.5% interest. For anything better I have to commit my savings for 5 years or more and I can't afford to do that at this time.

Also putting it into Ripple XRP.

Truth is I know very little about block chain tech and crypto assets, but the world is moving in that direction at a pace.
Then there is this "reset" that is being talked about. The amount I invested is worth the risk and more important sets me in the direction to learn about it.

Using LUNO I can sell my bitcoin for Rand at any time.

I like the concept of getting interest on my bitcoin. So far around 7% a month and compounding.
Started with little only 0.05 bit coin, five months later its grown to 0.12

Bought some Ripple 4 weeks ago @ R4.00 its at R10.00 now. Did that on a tip-off that its going to go up soon.
It was very consistent over the last year and only now did it go above its average value.

A problem we have is that we are naive enough not to explore things we don't understand.
This plandemic is a perfect example of what happened to our self-determination and critical thinking.

[SalesServiceGuy]

Re: Anyone into Crypto currency?

The reason I got into bitcoin was motivated by the weakening South-African Rand. The economy is taking the same route as Zimbabwe, farmers are about to loose there land, something the ANC government calls "Land expropriation without Compensation. Zimbabwe is now begging for the farmers to return. They left for Zambia were they had record produce export year after year ever since being forcefully removed from there land. Leaving money in a savings account only gives me 6.5% interest. For anything better I have to commit my savings for 5 years or more and I can't afford to do that at this time.

Also putting it into Ripple XRP.

Truth is I know very little about block chain tech and crypto assets, but the world is moving in that direction at a pace.
Then there is this "reset" that is being talked about. The amount I invested is worth the risk and more important sets me in the direction to learn about it.

Using LUNO I can sell my bitcoin for Rand at any time.

I like the concept of getting interest on my bitcoin. So far around 7% a month and compounding.
Started with little only 0.05 bit coin, five months later its grown to 0.12

Bought some Ripple 4 weeks ago @ R4.00 its at R10.00 now. Did that on a tip-off that its going to go up soon.
It was very consistent over the last year and only now did it go above its average value.

A problem we have is that we are naive enough not to explore things we don't understand.
This plandemic is a perfect example of what happened to our self-determination and critical thinking.

I highly recommend you consider buying silver coins. They are an excellent container for wealth that appreciates over time and is easy to buy.

Personally, if your savings account is paying 6.5%per year in 2020/2021 that will be rockstar growth. Possibly, among the very best in the world!

When the sh!t hits the wall in South Africa, and it always does, smart money goes to US$, Gold and the currency of the closest stable country usually backed by a European economy.

After land and tangible assets that you can trade, Bitcoin would be a good choice as a repository of wealth.

Be prepared that Bitcoin as demonstrated this week can swing up and down at $2.000.00 USD per day. So, it is now both a casino and a storage of wealth.

[SalesServiceGuy]

Re: Anyone into Cryto currency?

I do not know anything about RIPPLE XRP but looking at

XRP Ripple Price | (XRP) Price Index and Chart — CoinDesk 20


XRP is known as a Real Time Gross Settlement System which is a ‘currency exchange and remittance network’ that independent servers validate. The currency traded is known as XRP and transfer times are immediate.
XRP can be exchanged for most other currencies with its unique selling proposition being the avoidance of fees and wait times often associated with banks.

It isn’t made up of a blockchain but rather a Hash Tree and its currency can’t be mined because there are a finite number of coins – 100 billion.

XRP is popular with banks and institutions though the XRP token isn’t necessarily required for each transaction.

... I do not know your risk tolerance. If you can afford to loose $10,000.00 USD but if you bought in around Nov 1 2020, you would now have approx $63,000.00 due to the recent spike in valuation.

[allan]

Re: Anyone into Cryto currency?

I do not know anything about RIPPLE XRP but looking at




XRP

Ripple seems to be the poison of choice for the new money interchange.
Only got like $300 worth of XRP, things are real tight this year.

[SalesServiceGuy]

Re: Anyone into Cryto currency?

Ripple seems to be the poison of choice for the new money interchange.
Only got like $300 worth of XRP, things are real tight this year.

... you will have $500.00 in one week.

[copiertec]

Re: Anyone into Crypto currency?

I highly recommend you consider buying silver coins. They are an excellent container for wealth that appreciates over time and is easy to buy.

Personally, if your savings account is paying 6.5%per year in 2020/2021 that will be rockstar growth. Possibly, among the very best in the world!

When the sh!t hits the wall in South Africa, and it always does, smart money goes to US$, Gold and the currency of the closest stable country usually backed by a European economy.

After land and tangible assets that you can trade, Bitcoin would be a good choice as a repository of wealth.

Be prepared that Bitcoin as demonstrated this week can swing up and down at $2.000.00 USD per day. So, it is now both a casino and a storage of wealth.

You Canadians have always had a beautiful silver maple leaf!! My favorite over silver eagles any day!!

[allan]

Re: Anyone into Cryto currency?

South-Africa. Johannesburg is built on top of gold rich earth. Illegal groups called Zama Zamas dig new shafts underneath the highways in the city to make some black market money.

Can always over time get some of these. No good for when the SHTF or is it?

coin (1).jpg

[slimslob]

Re: Anyone into Cryto currency?

South-Africa. Johannesburg is built on top of gold rich earth. Illegal groups called Zama Zamas dig new shafts underneath the highways in the city to make some black market money.

Can always over time get some of these. No good for when the SHTF or is it?

[ATTACH=CONFIG]47442[/ATTACH]

If and when the excrement hits the rotary device precious metals, gem stones, non perishable foods and toilet paper are the places to be.

[allan]

Re: Anyone into Cryto currency?

If and when the excrement hits the rotary device precious metals, gem stones, non perishable foods and toilet paper are the places to be.

Well phrased.
Problem i have with the Kruger rand is its difficult to make change...

Already stockpiled dry goods and other toys on an off grid farm for the occasion.
Special place for when the poo hits the propeller.

[SalesServiceGuy]

Re: Anyone into Cryto currency?

A good guide on how and where to buy sovereign silver coins.

How & Where to Buy Silver Coins (2020 Buyers Guide) - GoldSilver.com

[n25an]

Re: Anyone into Cryto currency?

... if you do not understand what you are buying, you should not buy it.

,,, another new concept to think about is the "velocity of money". A measurement of the rate at which money is exchanged within an economy.

One of the primary reasons that gov'ts around the world give seemingly free stimulus money to its citizens is to get printed money out of the treasury and circulating within the economy. If people are buying goods & services, the economy functions properly.

If money sits in savings accounts it is not circulating ... this gives rise to the concept of negative interest rates. If you let that money sit, hoping to gain a very low interest rate, negative interest rates will motivate you to either pay down your bills or spend it in the economy. If you let your money sit in a bank account, negative interest rates makes your balance gets smaller each month.

alright... its time to give you a use case for crypto...

lets do bitcoin...

in hyper inflation.... the value of your dollar is worth, at best, less tomorrow than it was worth today...
so in a hyper inflation economy... you don't save... you try to spend your paycheck as fast as you get it...
why???? because the value of your dollar is going to be worth less tomorrow than today...
in short... you will have less buying power tomorrow than today...

one of the early cases of bitcoin was for remittances

the reason was that its pegged against the us dollar and it can be moved quickly between countries without any great special fees like those offered by western union...

so if you have relatives in a foreign country, you can send them money via bitcoin and they can trade the bitcoin for cash...
benefits are...
1. more of the cash gets there because its not eaten away in western union fees
2. bitcoin is pegged against the us dollar... and the foreign countries currency is pegged against the dollar... which means as the buying power of the foreign currency goes down... the buying power of the us dollar is going up... the bitcoin value is going up... which means you can buy more tommorrow than today with the bitcoin

thats the use case that many people in south america found for bitcoin...
Report: Use of Cryptocurrencies for Remittance Is Growing in Popularity | Featured Bitcoin News

[n25an]

Re: Anyone into Cryto currency?

... if you do not understand what you are buying, you should not buy it.

,,, another new concept to think about is the "velocity of money". A measurement of the rate at which money is exchanged within an economy.

One of the primary reasons that gov'ts around the world give seemingly free stimulus money to its citizens is to get printed money out of the treasury and circulating within the economy. If people are buying goods & services, the economy functions properly.

If money sits in savings accounts it is not circulating ... this gives rise to the concept of negative interest rates. If you let that money sit, hoping to gain a very low interest rate, negative interest rates will motivate you to either pay down your bills or spend it in the economy. If you let your money sit in a bank account, negative interest rates makes your balance gets smaller each month.

now lets deal with negative interest rates... and why I would still leave my money in the bank...
1. negative interest rates at this time only affect those with large sums of money...
2. it is better to keep money in the bank than under your mattress or in your home... theft and robbery being considerations
3. people still have to live and plan for the future and money in the bank still will be needed to help one build a life...
4. negative interest rates... and loans... in a negative interest rate scenario... a bank would pay you to take out a loan... let that one sink in...

in a regular economy paying down your bills and spending money in the economy is an option...
in a hyper inflated economy its a necessity...
in a sluggish economy with negative interest rates for the rich... its an option
in a sluggish economy with negative interest rates for all it depends on the interest rates...

in life its always best to be skeptical of what talking heads tell you...
if the talking heads and govt say... spend... you save...
if the talking head and govt say... save... you spend...

note: negative interest rates and quantitative easing are tools to increased confidence in the economy and create a fake sense of prosperity... those are used in an extended bust cycle or in lost decade scenario as an individual that means one should evaluate their situation... some people may be highly affected by scenarios where those tools are needed and some people may not even skip a beat... I would say don't freak out because of what the talking heads say... your economic situation could be quite different on the local level while your countries economy is crumbling at the national level...

just saying...

[SalesServiceGuy]

Re: Anyone into Cryto currency?

An analyst's chart prediction for the future of Bitcoin and XRP.

GIGANTIC RISES AHEAD for the Ripple XRP Price Chart as it Finishes Up Consolidation with Bitcoin - YouTube

... basically a big drop in Bitcoin and a sideways consolidation in XRP followed by a big rise.

[n25an]

Re: Anyone into Cryto currency?

An analyst's chart prediction for the future of Bitcoin and XRP.

GIGANTIC RISES AHEAD for the Ripple XRP Price Chart as it Finishes Up Consolidation with Bitcoin - YouTube

... basically a big drop in Bitcoin and a sideways consolidation in XRP followed by a big rise.

thats happening with all the altcoins... not just xrp...

[SalesServiceGuy]

Re: Anyone into Cryto currency?

The last seven days have not been kind to XRP

... and going lower.