Pardon my ignorance , what is crypto currency ?

[powerabout]

Elon Musk on ...

My friends son became a CPA like mom and as of 6 months ago has made 16 Million... that's all he does now!

https://youtu.be/x5RCfQyTDFI

lots people got rich from Dutch tulips

[JPEROG]

I am betting on the same supply and demand theory that has been around forever. Limited supply should create demand. We are over 19M already.

https://river.com/learn/can-bitcoins...on-be-changed/

Joe

[LakeFever]

Crypto market cap almost 2 trillion now. Heck Bitcoin alone is the 9th largest asset in the world right now it’s bigger than the S&P500. Crypto is a peer to peer system for finance. Same structure as any other peer to peer online network. Napster, Facebook etc.

[mr fun]

fundamentally i'm starting to understand it more , thanks guys. so how does an ATM come into the picture ?

[mr fun]

so if i want to buy a gadget from you the transaction is strictly between you and me , okay , what about taxes when it comes time to title and register it ?

[JPEROG]

fundamentally i'm starting to understand it more , thanks guys. so how does an ATM come into the picture ?

It is quickly becoming a common currency. You will be able to have a pre loaded debit card and exchange it (or debit it) for cash at locations everywhere. There will be fees involved and it will be a major opportunity.

Joe

[Lake X Kid]

mr fun ...

As for the future? The Winklevoss twins are on the right path...

What’s awesome about this is no person or corporation needs to decide your cut or the value or censor it etc because the people who view it create the value through the clicks in the blockchain which is unique and cannot be modified. It’s really a brilliant way to bring value to content creators and improve the economy. Make a hit song and release it in this blockchain structure? No studio, apple, Spotify, etc to take the profits it goes directly to you and whatever cut the blockchain is set up for. Even better resales of content also will bring royalty cuts built into the blockchain in perpetuity. This is merely a couple examples of how their idea will monetize the internet in all forms based on the simplest of concepts; time is money.

I recommend an easy read book, about how the W Twins got involved with Bitcoins, after their unsuccessful attempt to become partners/founders at Facebook with Zuckerberg. And in the book Zuckerberg is revealed as a ruthless businessman.

The book is a great read about some of the characters (some strange) in the beginning of Bitcoins rise in the cryto currency world.

[LakeFever]

You can get a crypto Visa card. Works anywhere visa works. As for taxes? Gains claimed on taxes no different than cash etc.

[powerabout]

It is quickly becoming a common currency. You will be able to have a pre loaded debit card and exchange it (or debit it) for cash at locations everywhere. There will be fees involved and it will be a major opportunity.

Joe

A major opportunity for what?

[Lake X Kid]

What opportunity?

"Becoming a common currency" will extend Bitcoins purchasing power at more retail goods and services.

With the extended purchasing power the value of Bitcoins will increase, relative to an exchange rate to the hard currency dollar.
Apparently some of the early investors in Bitcoins, are reaping great rewards. Not unlike when a company does an IPO, and the early stock owners see the stock price climb compared to the initial IPO stock price.

If Bitcoins approaches global acceptance, then it will be similar to what the Euro did as a common exchange across government borders, relative to all the European currencies: Franks, Marks, Pounds, Lira, etc.

However, this is new waters tread locally and globally, which might never have been historically traveled. Especially if the Central Banks are not controlling the system.

[LakeFever]

The central banks are scurrying like mad creating their own cryptos right now. Think national urls vs dot coms. Dot us, dot co.uk, dot ca and so on. These new national crypto tokens are how future payments to social programs will be paid out. Talk of regulating these cryptos to be only useable for approved purchases because green blah blah blah. Crypto is not going anywhere that’s certain. What’s not certain is how the governments try and wrangle it under control because right now they don’t have any and nothing scares them more than that

[Stoker boy]

Revelation 13:16-17


King James Version





16 And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:
17 And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.

[CUDA]

Yeah back in the 70's I read a book, mark of the beast It talked about this...

like it or NOT ... Chips


https://youtu.be/qWVQR99bXt8

[Stoker boy]

That came from the Bible way before the 70s.

[powerabout]

What opportunity?

"Becoming a common currency" will extend Bitcoins purchasing power at more retail goods and services.

With the extended purchasing power the value of Bitcoins will increase, relative to an exchange rate to the hard currency dollar.
Apparently some of the early investors in Bitcoins, are reaping great rewards. Not unlike when a company does an IPO, and the early stock owners see the stock price climb compared to the initial IPO stock price.

If Bitcoins approaches global acceptance, then it will be similar to what the Euro did as a common exchange across government borders, relative to all the European currencies: Franks, Marks, Pounds, Lira, etc.

However, this is new waters tread locally and globally, which might never have been historically traveled. Especially if the Central Banks are not controlling the system.

Currencies are guaranteed by governments to pay the face value
You can buy bonds in them to get interest payments ( thats government financing)
You can loan it to get interest payments
Currencies are relatively stable to allow for international trade
The Euro has failed most of the countries that use it by trying to join large and small economies together, its doesnt work, the smaller ones just end up in debt to the larger.

crypto is just barter its not money
How will the USA look without debt, take 23 trillion out of the economy now and you would get an idea. You consume more then you earn so that will stop.