General Category > Economy/Business
Cryptocurrency Thread
catfish1957:
--- Quote from: Smokin Joe on December 05, 2021, 12:07:56 am ---Well, I agree. The valuation seems arbitrary, and not based on anything but acceptance. That looks like a bubble, with nothing tangible to fall back on. At least with something like silver or gold, I can make jewelry...
--- End quote ---
You are 100% correct. Arbitrary and apparantly uncontrollably volitile is an understatement. Look at this Bitcoin valuation chart. I can say pretty safely that BTC won't be that reference currency when you see swings like this. Again, OTOH, I fear some international organization like IMF will take the concept, attempt to strip nations of currency sovereignty, and we will be forced into some IMF currency that may crypto in nature. That day of reckoning (conversion) will be the ultimate day of winners and losers.
catfish1957:
--- Quote from: libertybele on December 05, 2021, 12:01:07 am ---
I've become stubborn and still hold up the lines at the grocery store to write a check because it is seen as so old fashioned and no longer acceptable.
--- End quote ---
You aren't the only one. When there are transactions that I want to make sure that are fully documented and recorded, I always use checks. A picture of a cancelled check shows proof of payment, who, what, when, and where. When you look at a credit card statment, there are many times, the payee is differnet than you thought. Sometimes, I have to rack my brain to figure what I item or service I bought in the first plance. And try to work the system with a transaction number? Naww...
catfish1957:
Laura Ingraham had an interesting op-ed point in her monlogue last night about how the millenials have lost faith in the American financial system and feel left behind. Those points could be argued at length, but one interesting point she made is that she believes that is why there such interest in Crypto (Bitcoin) by this demographic.
Me? If there is one good takeaway, I hope the young invest small amounts and get to see in real time, how and why large sums of money can evaporate in one speculative "poof". Some lessons are better learned when you are young.
kevindavis007:
I do think that Crypto is going to be part of our future. The main thing is to be careful there are a lot of scams out there.
There are legit places to get them, like Coinbase or Crypto.
catfish1957:
--- Quote from: kevindavis007 on December 15, 2021, 09:45:58 pm ---I do think that Crypto is going to be part of our future. The main thing is to be careful there are a lot of scams out there.
There are legit places to get them, like Coinbase or Crypto.
--- End quote ---
@kevindavis007
Glad you recycled by. Got some questions...
1. How easily is it to move the coin?
2. Are you getting the full exchange rate during purchase or disposition?
3. Are there surcharges or other hidden expenses during transactions
4. About what percent of the commerce areas you've dealt with accepts your Crypto?
5. Have you gotten any advice around capital gains when you convert? 1st in, first out? Exemptions?
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