Page 5 of 16 FirstFirst 123456789101112131415 ... LastLast
Results 41 to 50 of 155
  1. #41
    Service Manager 1,000+ Posts
    Anyone into Cryto currency?

    n25an's Avatar
    Join Date
    Jul 2008
    Location
    miami, florida
    Posts
    1,030
    Rep Power
    46

    Re: Anyone into Cryto currency?

    Quote Originally Posted by SalesServiceGuy View Post
    ... 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
    Sad To Say I Don't Have a Life
    I do this stuff on the weekends too

  2. #42
    Service Manager 1,000+ Posts
    Anyone into Cryto currency?

    n25an's Avatar
    Join Date
    Jul 2008
    Location
    miami, florida
    Posts
    1,030
    Rep Power
    46

    Post Re: Anyone into Cryto currency?

    Quote Originally Posted by SalesServiceGuy View Post
    ... 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...
    Sad To Say I Don't Have a Life
    I do this stuff on the weekends too

  3. #43
    Service Manager 5,000+ Posts
    Anyone into Cryto currency?

    SalesServiceGuy's Avatar
    Join Date
    Dec 2009
    Location
    Nova Scotia
    Posts
    7,698
    Rep Power
    223

    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.

  4. #44
    Service Manager 1,000+ Posts
    Anyone into Cryto currency?

    n25an's Avatar
    Join Date
    Jul 2008
    Location
    miami, florida
    Posts
    1,030
    Rep Power
    46

    Re: Anyone into Cryto currency?

    Quote Originally Posted by SalesServiceGuy View Post
    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...
    Sad To Say I Don't Have a Life
    I do this stuff on the weekends too

  5. #45
    Service Manager 5,000+ Posts
    Anyone into Cryto currency?

    SalesServiceGuy's Avatar
    Join Date
    Dec 2009
    Location
    Nova Scotia
    Posts
    7,698
    Rep Power
    223

    Re: Anyone into Cryto currency?

    The last seven days have not been kind to XRP

    ... and going lower.

  6. #46
    Service Manager 1,000+ Posts
    Anyone into Cryto currency?

    n25an's Avatar
    Join Date
    Jul 2008
    Location
    miami, florida
    Posts
    1,030
    Rep Power
    46

    Re: Anyone into Cryto currency?

    right now bitcoin is either poised to go above $30000 or its going to drop back down to $10000... either way... the altcoins are going to get a dramatic change in value in the next 30 days... atleast thats my impression... so if you are into the altcoin market... and can find anything thats pretty low value and you can risk it... meaning like lunch money time... then buy and hold... but only spend what you can afford to lose... because it could all go sideways... you are literally gambling...
    Sad To Say I Don't Have a Life
    I do this stuff on the weekends too

  7. #47
    Service Manager 5,000+ Posts
    Anyone into Cryto currency?

    SalesServiceGuy's Avatar
    Join Date
    Dec 2009
    Location
    Nova Scotia
    Posts
    7,698
    Rep Power
    223

    Re: Anyone into Cryto currency?

    Quote Originally Posted by n25an View Post
    right now bitcoin is either poised to go above $30000 or its going to drop back down to $10000... either way... the altcoins are going to get a dramatic change in value in the next 30 days... atleast thats my impression... so if you are into the altcoin market... and can find anything thats pretty low value and you can risk it... meaning like lunch money time... then buy and hold... but only spend what you can afford to lose... because it could all go sideways... you are literally gambling...
    ... you are certainly gambling but there is little chance that you will lose all of your money. Cryptos are now too well established in the world economy as an alternate currency. The old adage buy low and sell high certainly applies here.

  8. #48
    Service Manager 1,000+ Posts
    Anyone into Cryto currency?

    copiertec's Avatar
    Join Date
    Jan 2016
    Location
    Centereach, L.I. New York
    Posts
    2,161
    Rep Power
    101

    Re: Anyone into Cryto currency?

    JBravo just did a piece on bitcoin and brought up some good points, I found #8 to be interesting as the IRS is now wanting to know how much crypto you own so you can be taxed on your earnings, I thought that was the whole allure to crypto? Avoiding Uncle Sam.


  9. #49
    Service Manager 1,000+ Posts
    Anyone into Cryto currency?

    n25an's Avatar
    Join Date
    Jul 2008
    Location
    miami, florida
    Posts
    1,030
    Rep Power
    46

    Re: Anyone into Cryto currency?

    Quote Originally Posted by copiertec View Post
    JBravo just did a piece on bitcoin and brought up some good points, I found #8 to be interesting as the IRS is now wanting to know how much crypto you own so you can be taxed on your earnings, I thought that was the whole allure to crypto? Avoiding Uncle Sam.

    in the early days of crypto when being a crypto millionaire was a new thing... it was not unheard of for the irs to show up at your door for tax evasion... or to find you at a bitcoin meetup and have a chat with you... not that I am one of those guys... far from it... but I find prevention is better than cure so I have been paying my taxes from the very beginning...

    this does not rule out the idea of a retroactive tax... its been done with silver... it could happen with crypto...
    cryptos rise is within the ten years back tax collection window of the irs...
    and if you think well thats an ex post facto law and is unconstitutional... lets just say the courts are slow and the taxman is fast...
    and congress likes the tax man...
    Last edited by n25an; 12-08-2020 at 03:21 PM.
    Sad To Say I Don't Have a Life
    I do this stuff on the weekends too

  10. #50
    RTFM!! 5,000+ Posts allan's Avatar
    Join Date
    Apr 2010
    Location
    Centurion
    Posts
    5,387
    Rep Power
    152

    Re: Anyone into Cryto currency?

    Quote Originally Posted by n25an View Post
    in the early days of crypto when being a crypto millionaire was a new thing... it was not unheard of for the irs to show up at your door for tax evasion... or to find you at a bitcoin meetup and have a chat with you... not that I am one of those guys... far from it... but I find prevention is better than cure so I have been paying my taxes from the very beginning...

    this does not rule out the idea of a retroactive taxes... its been done with silver... it could happen with crypto...
    cryptos rise is within the ten years back tax collection window of the irs...
    and if you think well thats an ex post facto law and is unconstitutional... lets just say the courts are slow and the taxman is fast...
    and congress likes the tax man...
    Crypto can undermine governments and that is a big plus for the globalist. Like South-Africa it would be imposible to pay back what the IMF and China pushed in for relief. We should be feeling the economic impact of the lockdown but money is pumped in to keep the business running and the wallets full. In fact it looks like there is more being spent by the public that this time last year. Still getting relief funding to make up a 3de of my salary since March. Been having record months these last 2 months printing higher volumes than ever. Something is not adding up.

    So I think many governments are now powerless and must follow ever whim of the new order. Sure we will pay but not to your local government.
    Whatever

Tags for this Thread

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Get the Android App
click or scan for the Copytechnet Mobile App

-= -= -= -= -=


IDrive Remote Backup

Lunarpages Internet Solutions

Advertise on Copytechnet

Your Link Here