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  1. #31
    RTFM!! 2,500+ Posts allan's Avatar
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    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.
    Last edited by allan; 11-28-2020 at 11:37 PM.
    Whatever

  2. #32
    Service Manager 5,000+ Posts
    Anyone into Cryto currency?

    SalesServiceGuy's Avatar
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    Re: Anyone into Crypto currency?

    Quote Originally Posted by allan View Post
    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.

  3. #33
    Service Manager 5,000+ Posts
    Anyone into Cryto currency?

    SalesServiceGuy's Avatar
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    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.

  4. #34
    RTFM!! 2,500+ Posts allan's Avatar
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    Re: Anyone into Cryto currency?

    Quote Originally Posted by SalesServiceGuy View Post
    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.
    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.
    Whatever

  5. #35
    Service Manager 5,000+ Posts
    Anyone into Cryto currency?

    SalesServiceGuy's Avatar
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    Re: Anyone into Cryto currency?

    Quote Originally Posted by allan View Post
    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.

  6. #36
    Service Manager 1,000+ Posts
    Anyone into Cryto currency?

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    Re: Anyone into Crypto currency?

    Quote Originally Posted by SalesServiceGuy View Post
    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!!


  7. #37
    RTFM!! 2,500+ Posts allan's Avatar
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    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
    Whatever

  8. #38
    Retired 10,000+ Posts slimslob's Avatar
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    Re: Anyone into Cryto currency?

    Quote Originally Posted by allan View Post
    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
    If and when the excrement hits the rotary device precious metals, gem stones, non perishable foods and toilet paper are the places to be.

  9. #39
    RTFM!! 2,500+ Posts allan's Avatar
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    Re: Anyone into Cryto currency?

    Quote Originally Posted by slimslob View Post
    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.
    Whatever

  10. #40
    Service Manager 5,000+ Posts
    Anyone into Cryto currency?

    SalesServiceGuy's Avatar
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    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

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