Thoughts on Cryptocurrency?

What do you think about Cryptocurrency? Good or Bad?

Idiotic. The way it is set up the amount of power and calculations required to break the code increases exponentially trying to keep up with bigger and more powerful computers. However, these things require huge amounts of electricity. So we are burning huge amounts of electricity to do what? To mine gold or silver or something of substance? No, to mine this cryptocurrency. Why not simply have a gold standard?

Naive. The entire idea of the cryptocurrency is to have a currency that cannot be manipulated. the problem is that those who have the power to print the currency become corrupt and will manipulate it. The problem is crooks in power, unless you can stop that your cryptocurrency is doomed. The CDC just nationalized private property. China just nationalized a whole bunch of companies that were trading on international exchanges. One those in power are in power they will simply take your crypto from you.

Buying and selling nothing, in reality. It does not actually exist. Another "get rich quick" scheme that will leave a lot of people in tears and a very few extremely rich.

The Bible exhorts people to work for a living and be generous givers. That's God's economic system. When I finally came on board, my finances improved dramatically. I have some shares that God has blessed. A company is a real thing, unlike Bitcoin etc..

Bitcoin is another vessel for investment, such as gold, silver, or currency (bitcoin is "digital" currency). I don't think there is anything sinful in investing in bitcoin or any other vessel, as long as it doesn't get to the point of gambling. Personally I don't know too much about bitcoin, but it may be the thing of the future and is worth investigating.

The billionaire investor Warren Buffet doesn't like Bitcoin because he considers it an unproductive asset. Buffett has a well-known preference for stocks of corporations whose value — and cash flow — come from producing things. But cryptocurrencies don't have real value.

….or Bitcoin is just a front for those supercomputers and servers. Perhaps the computers are used for cyber spying. I’m not a conspiracy theorist but nothing surprises me anymore.

You know, I want to agree. But John Mcafee thinks otherwise: in fact — El Salvador just announced it will be using Bitcoin as their currency… whose next? It’s only growing. If there are only $21,000,000 BTC in circulation — and we have to share that with $6,000,000,000 people — the value is only going to skyrocket. I’m not saying every country will use the same crypto. For example, the bank of France prefers XRP.
I just find it all fascinating so I have squirreled away a small amount of money and invested. What’s truly amazing about $BTC is that $BTC transactions are not taxed — it’s untraceable by the IRS. I believe that BTC will be used more and more in the future. It’s Pandora’s box. If you own a business and accept both USD and BTC, why on earth would you, as a business owner, want a transaction on paper?? Transactions on USD = income tax. Transactions on BTC = invisible to feds.
not saying anybody is right or wrong but just laying out some facts. I think crypto has a a future personally.

I find it interesting as well. My view is that within the coming antichrist system there will be only one cryptocurrency system. Satan wants total control over the peoples of the world. I think this final cryptocurrency system will be part of the final mark of the beast. At a certain point, a person will only receive digital currency for responding with the proper body response and identification.

It is a must, but should not have become a must. It is sad that it will allow people to dodge taxes, but it is what it is. When some folks and businesses are denied payment options. Online segregation demands it. Cryptography is the future and has countless applications, lithuania or estonia, or something use it in elections. And I am sick of people like Mcafee being whacked all over the place. Think of another benefit, political decisions andd inflation, etc cannot wipe the assets out, or reduce the value by 30% like other currencies do.

i dont know, havent made my mind up about it yet

some people assume its corruptocurrency
but it might be the greatest thing since sliced bread...nobody has to destroy forests to mine them for gold...robots can make the the money for us if we do the right calculations! isnt it just a number anyway and no point fighting over numbers.

I give you infinity! There you go.
Or just make everything free..!

Bitcoin, Erethium and the other crypto currencies are a unique medium of exchange...

The dollar is a medium of exchange...

so the difference is that a dollar is a stable legal tender.

But other than that there's some other problems with the digital currencies.

Digital currencies are MORE subject to hacking than any other form of currency. It requires the use of three individual wallets minimum to protect what you have when trying to use the currency in one of the few limited places that will accept such things.

Places that accept digital currencies usually charge a massive and substantial service fee for using digital currencies in exchange for their goods and services. 20-25% is standard.

Digital currencies are not secured...they rely upon blockchain encryption...the hackers have already figured out how to hack that. Meaning that mining isn't necessary...just creating the coins. It's not widely published yet...but blockchain encryption is old technology these days.

The primary users of digital currencies are criminals and terrorists. By buying, using, and/or holding this boutique currency you are supporting murderous thugs.

Which dovetails into the next explanation...the IRS is going to audit everyone who owns digital currencies...now where you are likely honest with your taxes the auditor isn't someone I can vouch for. At a minimum an IRS audit is a hassle you really don't want. Often delaying returns and refunds for years...

So where you probably could make a few bucks...the price is much higher than anything I want to pay.

Not really into the cryptocurrencything. do not have money, seek no wealth. But a bit more than a currency, it is freedom. If you share a wallet with others, as in exchanging your money with them, how can you get hacked? If the sourcecode is changed everytime you buy a bread? Depending on the whitepaper you read, it is about 256, 512, or more later, and if you use your colns often, your sourcecode changes, so how can it be hacked?If you worry about losing money. Ifr you have billions, perhaps not smart, but if you just want an alternative as a common person, what is the issue? Bigger cost in hacking than reward earned. Only requires you to make a transaction in your time, to feel safe, the code changes.

Blockchain is old, correct, from the seventies, does not change the fact that it is the safestm, if you use your brain,. You know how fast 256 and 512 can be cracked, right? If you really want it, and big ones targeted. Now talk us, common folks that are not interesting, why would we be exposed to that? All digitized, put each service provided on a seperaqte date, and your currency regulary change code, and it is back to scratch every other day for hackers.Why worry, if you are a mailman, and just live a simple life? Why would anybody care about you, and spend resources on you? Come on, pay for a paper a day, or buy a hotdog, and you are safe.We talk about common people here. If you find a 512 currency, you have like a week if you are not bill Gates, and have something to steal from you.

I found the different opinions on this interesting now that we have 20/20 hindsight.

Crypto is a beta test for the world banks to implement a new world order. we must not use crypto, resist, use cash as much as possible. once it's done they ( the world banks controlled by the elite 0.1% trillionaires) will have total control. if you do not beleive this, see what is happening in china, they have decided that a portion of the inhabitants moneys in the form of cryoto will have an expiration date!! no savings long term, they said it if to stimulate the economy...but it will be used for full control, if you do what you are told you can spend if not well too bad. this will be linked with your social score. this is coming we must try to resist. crypto is a total scam like climate change and the carbon tax.

Use cash!!

Blessings,

try to actually buy something with it in the US....

Basically you're buying something that doesn't exist and hopes that there's a bigger sucker who will pay more for it

People who sold when the value was 60,000 per coin did well...those who bought? Not so much.

It's a Ponzi scheme

It's the stock market....and some of the biggest holders and hedge funds own the media. So you have to ignore the media or use it to do the opposite of what everyone else is doing.

Sell when people are buying and buy when everyone has sold.