I’m not a crypto currency guy. It’s bad enough I purchase downloads of movies and music I can’t physically touch, sell or trade and technically don’t own. I need to touch my money if I so desire.
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.
When you think you have made a procedure idiot proof your company employs a better idiot.
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
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...
Last edited by n25an; 11-29-2020 at 05:07 AM.
Sad To Say I Don't Have a Life
I do this stuff on the weekends too
... 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.
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