Anyone into Cryto currency?

[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?

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

[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!!

[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.

[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?

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.

[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.

[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.

[BillyCarpenter]

Re: Anyone into Cryto currency?

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.

I'm not even gonna go there. Child, please.

[SalesServiceGuy]

Re: Anyone into Cryto currency?

talking about possibilities...

not being argumentative but I think thats unrealistic... my opinion... is this... don't buy bitcoin or cryptocurrency unless you can find a legitimate use for it...


trying to understand cryptocurrency is trying to understand money... it took me a good chunk of my lifetime to understand money but during that time I still made use of it in its most basic sense... I bought and I spent it...

back to the possibilites..

if you aren't sure then go and find examples in the world of how others use crypto and money and from that derive your own uses... there are primary thinkers and there are secondary thinkers...

I am not a primary thinker when it comes to things... not proud of the fact but if it is it is... sometimes one has to be humble enough to admit they don't know it all... and expand the consciousness...

... 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.

[n25an]

Re: Anyone into Cryto currency?

One should not consider buying even $100 worth of Bitcoin if you cannot explain to someone what a blockchain is.

talking about possibilities...

not being argumentative but I think thats unrealistic... my opinion... is this... don't buy bitcoin or cryptocurrency unless you can find a legitimate use case for it...


trying to understand cryptocurrency is like trying to understand money... it took me a good chunk of my lifetime to understand money but during that time I still made use of it in its most basic sense... I bought with it and I spent it...

back to the possibilities..

if you aren't sure then go and find examples in the world of how others use crypto and money and from that derive your own uses... there are primary thinkers and there are secondary thinkers...

I am not a primary thinker when it comes to things... not proud of the fact but it is what it is... sometimes one has to be humble enough to admit they don't know it all... and expand the consciousness by seeking the knowledge others have gained by their experience...

[SalesServiceGuy]

Re: Anyone into Cryto currency?

Very true. One of the steps heading into this new world we are following into like sheep could be to control our ability to connect to the internet without a hardware devise to authentic you.

Anyone got a hardware wallet?

One should not consider buying even $100 worth of Bitcoin if you cannot explain to someone what a blockchain is.

[allan]

Re: Anyone into Cryto currency?

In the event of a total cyber shutdown, you will have no access to your cryto or cash for that matter. Here is an interesting video by the Ice Age Farmer concerning such an attack.

"Next Crisis Bigger than COVID" - Power Grid/Finance Down - WEF Cyber Polygon - YouTube

Very true. One of the steps heading into this new world we are following into like sheep could be to control our ability to connect to the internet without a hardware devise to authentic you.

Anyone got a hardware wallet?

[copiertec]

Re: Anyone into Cryto currency?

In the event of a total cyber shutdown, you will have no access to your cryto or cash for that matter. Here is an interesting video by the Ice Age Farmer concerning such an attack.

"Next Crisis Bigger than COVID" - Power Grid/Finance Down - WEF Cyber Polygon - YouTube

[Tricky]

Re: Anyone into Cryto currency?

Yes, bitcoin, crypto currencies, etc. are not hack proof either, just google how to hack crypto currency. The problem with most crypto and the reason for its appeal is its block chain technology but if you think it's 100% secure...think again. Here is just one article.

US: We've just seized $1bn in bitcoin stolen from Silk Road by 'Individual X' hacker | ZDNet

I think the technology is fairly secure, most of these seizures are due to human error, the creator of silk road, Ross Ulbricht was identified by an email address that he used to register on marketplace forums and post messages trying to get attention to his new website.