Don't lose your shirt in the Crypto Casino: Bitcoin crashes by half
A large chunk of Britons are staking some of their savings on dangerous and lawless cryptocurrency and some experts warn bitcoin carries the hallmarks of a bubble.
Bit coin scam
- Thread starter Devil's advocate
- Start date
Meanwhile El Salvador are looking to make it a legal currency to solve the problem of 70% of their population being bankless. Argentina, Paraguay and Brazil are also looking at it seriously. Interesting that the media have started a fear campaign. Sounds sponsored from the fearful. It is no way a ponzi, it's digital gold and that's why they are afraid because they can't control it. It's fallen 80% or so a few times and shortly after reached a new all time high.
As I said, I'm not in Bitcoin, I just find it interesting.
As I said, I'm not in Bitcoin, I just find it interesting.
That's a funny article. By 'real money' I assume they mean fiat currency of which they can print as much as they like of and always, always goes down in value.Don't lose your shirt in the Crypto Casino: Bitcoin crashes by half
A large chunk of Britons are staking some of their savings on dangerous and lawless cryptocurrency and some experts warn bitcoin carries the hallmarks of a bubble.www.dailymail.co.uk
Imagine if you had bought HEX at around a penny when I posted about this scam. You would be kicking yourself now. Not to mention the duplicate stakes you will get on the new pulsechain and the 40% APR.
HEX
apphex.win
Imagine if you had bought HEX at around a penny when I posted about this scam. You would be kicking yourself now. Not to mention the duplicate stakes you will get on the new pulsechain and the 40% APR.
HEX
El Salvador have just adopted BTC as a legal currency. Most of South America will follow to ditch the dollar. I have no interest in Bitcoin but I think this could actually be a paradigm shift which are far rarer than people think. Interesting times.
Yes, I did notice that…huge problems. As an Analyst used to say”after the human element is taken out it’s just maths”….his language was a bit more colourful, as a btw, he was worth every penny of his eye watering fees. Who knows, but as you say, very interesting…..but like comedy….all down to the timing.
Oh, there is absolutely no doubt about that at all….in my opinion…
Exfarmer
Member
- Location
- Bury St Edmunds
Actually El Salvador does not officially use BTC till September. I very much doubt the man on the street will use it. They adopted the dollar 20 years ago to recognise the fact that the population were not using the local currency, which they did not trust due to inflation. This is just the same as large parts of Africa.
If the government starts paying the civil servants etc and BTC hasonw of its down cycles , I can see another revolution.
The people will far sooner have a currency they can see and trust evenif the face value in the states has absolutely no connection to its local value
Mr Mackay
Member
- Location
- HMP Slade , Shropshire
The President is a bit alternative I think
It was more a publicity stunt
It was more a publicity stunt
Paraguay, Argentina and Brazil all interested.
Only 30% of the population of El Salvador have a bank account. Poverty creates crime. Take out the thieving bankers and the world might be a nicer place.
Exfarmer
Member
- Location
- Bury St Edmunds
But surely a paper currency takes the small guy out of the hands of the bankers!
Dread to think how they will cope when their life savings are in the hands of a computer nerd?
I dont believe it will ever happen, whatever some government may decree
- Location
- Scottish Highlands
It took over five hours average time to process a transaction on Saturday too - how would that work with doing your grocery shopping? Typical averages are well into the tens of minutes too.
Doesn't work like that at all. Transactions will be aggregated by exchanges. Say you had a Wirex card in the UK. Load up some Bitcoin and you've got chip and pin instantly the same as any other Mastercard.
Did you know that 35% of all dollars in existence have been printed since the start of 2020? Have a think on that and what it does to your money. Your savings account, ISA, emergency fund, pension. Now look at the inflation in raw materials which has exploded. Some folk are going to be seriously disappointed. Fiat currency is the real ponzi because they need to print more and more and more to stay ahead of the game and that destroys everyone's wealth except the top 1%.
- Location
- Scottish Highlands
Wirex does that by doing real time exchange back into proper money though, so the transaction takes place in Sterling or whatever and not in BTC.
Yes, that's what I said. They will create a transaction pool and exchange for fake money in one go in order to settle those payments. But you get the price appreciation or deprecation in BTC in the mean time.
- Location
- Scottish Highlands
So the transaction isn't actually happening in BTC at all, and BTC is no use for actually transactions, just as a semi-instant access investment. No real difference from any other asset class then - you sell the paper and change it into something that is tradeable, then trade with that instead. Kinda different from the BTC having a place as a proper currency.