Pardon my ignorance , what is crypto currency ?

**Lake X Kid** · 04-05-2022, 12:45 PM

If individual large Banks create their own crypto currencies, then it is going to be a market share competition. And then we will have exchange rate issues. Bank A crypto = X, and Bank B crypto = Y, etc. And market share will dictate the eventual main providers.

If and when, banks and governments recognize any crypto currency as legal tender, than that CC will transition from barter and be upheld as mainstream money.

This is surely a new frontier, which will challenge the current financial systems.
I wonder what says the Sage of Omaha?

**hydrochicken** · 04-05-2022, 01:15 PM

My take is anything not in your hand is worthless. Cash is worthless as well in a SHTF world. That's why I invest in metals....

**Stoker boy** · 04-05-2022, 03:07 PM

I’ll take food, shelter, clothing, water, and plenty of bullets. You can have all the gold and currency you want.

**powerabout** · 04-05-2022, 07:07 PM

Originally Posted by Lake X Kid

If individual large Banks create their own crypto currencies, then it is going to be a market share competition. And then we will have exchange rate issues. Bank A crypto = X, and Bank B crypto = Y, etc. And market share will dictate the eventual main providers.

If and when, banks and governments recognize any crypto currency as legal tender, than that CC will transition from barter and be upheld as mainstream money.

This is surely a new frontier, which will challenge the current financial systems.
I wonder what says the Sage of Omaha?

It wont be money till you can earn interest on it and without that it can never be used to run a country as its guaranteed by nobody.
Why would a bank use it, just print their own coins to make money, oh no that wont work so what use are banks, you can remove them from the system.
What problem is it solving?
I cant wait till there is no finance in the USA so you will need all your bitcoins to by a House car and boat, can you understand why its just dutch tulips yet?

**David** · 04-06-2022, 04:12 AM

[QUOTE=Lake X Kid I wonder what says the Sage of Omaha?[/QUOTE]

“If you buy something like bitcoin or some cryptocurrency, you don’t have anything that is producing anything,” Buffett says in an interview with Yahoo Finance. “You’re just hoping the next guy pays more. And you only feel you’ll find the next guy to pay more if he thinks he’s going to find someone that’s going to pay more.

“You aren’t investing when you do that, you’re speculating.”

**LakeFever** · 04-06-2022, 06:28 AM

What buffet is sorely missing in that statement is you cannot use stocks as currency nor can you trade them in real time without delay for currency. You can do both with crypto it’s more than a speculative asset it’s a globally functioning currency system that’s growing, fast!

buffets only doing what buffet does. Sewing his line of information to support his positions.

**powerabout** · 04-06-2022, 08:43 AM

Originally Posted by LakeFever

What buffet is sorely missing in that statement is you cannot use stocks as currency nor can you trade them in real time without delay for currency. You can do both with crypto it’s more than a speculative asset it’s a globally functioning currency system that’s growing, fast!

buffets only doing what buffet does. Sewing his line of information to support his positions.

You can trade stocks far faster than bitcoin as they are not dragged down by blockchain. https://en.wikipedia.org/wiki/High-frequency_trading
So is bitcoin a barter currency or a speculative stock? Cant be both with such a volatile value

**LakeFever** · 04-06-2022, 08:50 AM

Bitcoin I agree. Etherium and many others no. This is why etherium will outrun Bitcoin once more people realize it’s application advantages

**powerabout** · 04-06-2022, 09:01 AM

[QUOTE=LakeFever;3338238]Bitcoin I agree. Etherium and many others no. This is why etherium will outrun Bitcoin once more people realize it’s application advantages[/QUOTE
Still dont know what problem a crypto has solved or advantage it has?

**LakeFever** · 04-06-2022, 11:58 AM

Originally Posted by powerabout

Still dont know what problem a crypto has solved or advantage it has?

it’s built on unique lines of code that are the framework for the new online world that is emerging, rapidly. Being globally recognized and accepted in a peer to peer capacity that removes exchange rates and national currency concerns. Crypto rides alone in this category. If you do not see the upside to this vs a tulip I don’t know what else to tell you. Good news for you though no one is forcing anyone to buy into it. Do what’s right for you it’s all good

**Lake X Kid** · 04-07-2022, 11:31 AM

The situation for the major players now, is who will eventually control the financial denomination(s).

**Lake X Kid** · 04-07-2022, 11:34 AM

I wonder if Henry Ford lived today, in the 21st Century, would he still uphold his statement about the USA banking system.

And crypto currencies are now throwing their hats into the ring.

**LakeFever** · 04-07-2022, 11:47 AM

Andrew Jackson understood it. Fully

**Lake X Kid** · 04-07-2022, 01:00 PM

"Biden's executive order requires the Treasury and the Commerce Departments and other agencies to prepare reports on "the future of money" and the role cryptocurrencies will play."

https://news.yahoo.com/u-crypto-rules-support-innovation-162940809.html