Cryptocurrency

[Whorty]

Absolute nonsense amigo. BTC was created after the financial fu&%up in 2008. The world needs a better financial system and BTC/crypto is the answer for it.

You keep cutting trees and printing money, we'll see who wins

But this is the thing, you don't need to cut trees and print money in a modern economy. I don't use real cash for anything, it's all via my card, so in essence the GBP I use is already electronic. same when I travel abroad, I rarely use paper money (depending where I go in the world I may take a wodge of $1 notes for tips, but let's face it, the porters in these countries are not likely to be accepting cypto coin any time soon)

Let's face it .. crypto is not real. It's a made up thing to get certain people excited and to want it (demand) and the supply is being controlled by those that really want more real $. Crypto is the emperor's new clothes, it's vapourware, it's totally made up. I didn't realise Bitcoin was limited to 21 million coins - that's hilarious.

But I am learning something here - those who came in early are talking it all up as they need the late joiners to keep the prices high to fund their retirement. Now I get why AtW calls it a ponzi scheme.

 

[Jarman]

But this is the thing, you don't need to cut trees and print money in a modern economy. I don't use real cash for anything, it's all via my card, so in essence the GBP I use is already electronic. same when I travel abroad, I rarely use paper money (depending where I go in the world I may take a wodge of $1 notes for tips, but let's face it, the porters in these countries are not likely to be accepting cypto coin any time soon)

Let's face it .. crypto is not real. It's a made up thing to get certain people excited and to want it (demand) and the supply is being controlled by those that really want more real $. Crypto is the emperor's new clothes, it's vapourware, it's totally made up. I didn't realise Bitcoin was limited to 21 million coins - that's hilarious.

But I am learning something here - those who came in early are talking it all up as they need the late joiners to keep the prices high to fund their retirement. Now I get why AtW calls it a ponzi scheme.

1) Well you are still adding supply so with fiat you need to "create" more money, physical or DIGITAL.

2) Oh believe me, crypto is real, the same way your balance is in your bank account. You can spend it the same way!

3) Yes, but I cannot see why that is hilarious? It's the solution!

 

[AtW]

Now I get why AtW calls it a ponzi scheme.

It was elementary, my dear Whorty

 

[d000hg]

I'm not sure how crypto is less real than traditional currency, at least since we lost gold reserves and so on? There are a certain number of units of currency mostly in computers which you can exchange with someone else. There are a certain number of units of crypto which you can exchange.

In fact crypto is in some ways more 'real'. If you want to safely hide your pounds away from the bank, the only way is in paper currency. If it's bitcoins, you can download them to a USB drive and hide it. Every dollar is just a number on a computer system - every bitcoin has (in simple terms) it's own distinguishing number like a serial number on a bank note.

I'm not a crypto advocate, I just find it interesting. I agree it's ultimately a confidence trick but no more so than the traditional financial system. It's just currency.

 

[northernladuk]

1) Well you are still adding supply so with fiat you need to "create" more money, physical or DIGITAL.

2) Oh believe me, crypto is real, the same way your balance is in your bank account. You can spend it the same way!

3) Yes, but I cannot see why that is hilarious? It's the solution!

Son of Scooty or is it the man himself in sockie mode?

 

[AtW]

It's just currency.

No, it isn't.

 

[Whorty]

It was elementary, my dear Whorty

So is the canal lol

 

[Jarman]

Son of Scooty or is it the man himself in sockie mode?

vague, do you have an argument to make there about crypto or something? Oh let me guess, it is not real, but a number on a piece of paper is.. yea right

 

[Jarman]

I'm not sure how crypto is less real than traditional currency, at least since we lost gold reserves and so on? There are a certain number of units of currency mostly in computers which you can exchange with someone else. There are a certain number of units of crypto which you can exchange.

In fact crypto is in some ways more 'real'. If you want to safely hide your pounds away from the bank, the only way is in paper currency. If it's bitcoins, you can download them to a USB drive and hide it. Every dollar is just a number on a computer system - every bitcoin has (in simple terms) it's own distinguishing number like a serial number on a bank note.

I'm not a crypto advocate, I just find it interesting. I agree it's ultimately a confidence trick but no more so than the traditional financial system. It's just currency.

They are not a currency since they are not issued by the Government....YET - 2021 and 2022 will be quite interesting in that regard

 

[Whorty]

Son of Scooty or is it the man himself in sockie mode?

Nah, can't be Scooty, not enough use of crayons