Reply to: Crypto double blow

[DealorNoDeal]

AFAIK, you can still buy the main ones like BTC and ETH through PayPal. (If you don't want to sign up with a crypto exchange.)

I don't know if you can buy through stock brokers but retail investors are no longer allowed to buy crypto derivatives like Bitcoin ETFs.

[jamesbrown]

Serious question (I know, wrong forum) ... but how easy is it to buy crypto now, given that UK banks seem to be stopping the ill advised customers to process a payment?

Is there some fandangled process you have to go through?

You can probably do it easily enough using companies like Revolut (I would highly not recommend them ). That said, I don't think the retail banks have really "blocked" payments as such (despite what the headlines say), it's more like they've changed their risk algorithms and limited amounts etc.

[jamesbrown]

I’ll consider buying when it reaches the level when I last seriously considered buying it - 3 bucks per main tulipcoin

I considered mining it ten years ago, but thought better of it

I wouldn't actually spend real money on cretin coins, though (which includes mining it now, given the energy costs).

They are basically akin to gambling, minus any security with your stake or negative winnings.

[Whorty]

Serious question (I know, wrong forum) ... but how easy is it to buy crypto now, given that UK banks seem to be stopping the ill advised customers to process a payment?

Is there some fandangled process you have to go through?

[AtW]

I’ll consider buying when it reaches the level when I last seriously considered buying it - 3 bucks per main tulipcoin

[DealorNoDeal]

$16k may appear "cheap" but it could get a whole lot cheaper before this bear market finally bottoms out.

I have my own idea of what I'd be looking for as a sign that the bear market is probably coming to an end but it involves a squiggly line on a chart so

[_V_]

Well these finally look like a good value!

It is amusing though

[AtW]

Well these finally look like a good value!

[_V_]

oops...

https://www.bbc.co.uk/news/business-63786201

Anyone want to buy a bag of bitcoins?

[WTFH]

Also you've got to stop thinking it's just Bitcoin.

'DeFi or decentralised finance' + smart contracts that require no trust will be the talk of the town going forward. I'm talking about Ethereum. It may actually knock off Bitcoin #1 position in the coming years.

Consider this, using BlockFi | Earn Crypto Interest | Trade Crypto | Get Crypto Backed Loans you can earn 8.6% annual interest on your stable coin, whether that be pegged to dollar, euro.

One day the penny will drop.

oops...

https://www.bbc.co.uk/news/business-63786201

[Old Greg]

Money = a current medium of exchange

that's anything anyone wants it to be, and that's becoming less and less the dollar. Russia, China, they've both reduced their exposure to it over the last 10 years

Government guarantees to take payments in fiat.

[jamesbrown]

You just said people were selling gold because they needed the money.

Scootie can’t come to to phone right now. He’s self isolating in the Swedish sauna at the Thistle hotel. It’s taking all his concentration not to slip in his own faeces and shoot himself in the face.

[AtW]

Money = a current medium of exchange

that's anything anyone wants it to be, and that's becoming less and less the dollar. Russia, China, they've both reduced their exposure to it over the last 10 years

So they reduced their US holdings in favour of EUR, and so what?

[AtW]

Just like the paper one dollar bill.

Paper or electronic dollars are the only valid means of paying US taxes - this creates big intrinsic value by itself, never-mind most of worlds commodities priced in dollars

[scooterscot]

You just said people were selling gold because they needed the money.

Money = a current medium of exchange

that's anything anyone wants it to be, and that's becoming less and less the dollar. Russia, China, they've both reduced their exposure to it over the last 10 years