Have you ever used cryptocurrency?

Lord Saru

Member
Cryptocurrency, as you know, is a block chain mediated decentralized peer reviewed currency system. Post 2018, most of the governments have outlawed the cryptocurrency owing to the fact that they deem it a threat to their financial integrity.

Back from where I come from, the government wants it banned but the judiciary is taking a different stance and I dont know anyone that uses cryptocurrency.

Do you all use it? Are you familiar with these terms like mining, mixing and all those? How does it exactly work?
 

yagami2009

Member
You are late dude..world has already moved on. JK
Btw yeah there are many cryptocurrencies which you can try but I would suggest if you going for mining then try some new ones or research a bit on multiple exchanges before getting in to this.
 

Gmorning

Member
I can't say I am an expert, but I like to invest in cryptocurrency from time to time... I usually follow the prices, and if I see that it's really convenient price, I would buy.
Last time I bought currency was a cheap price, but at the moment I could not pay by myself, so I used the service on https://theguaranteedloans.com/weekend-payday-loans/and bought it. I rarely do it, but when you need something for real, you do anything to get it! :)
 
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Clout

Member
I’ve never really used it myself or had any interest in it but I’ve heard of some people actually making decent amounts from it. Good on them I suppose!
 

Ash

Member
I wouldn't say that I am an expert on crypto but I know a bit about it. I did purchase some Bitcoin for the first time a while back and then sold it for a very small loss. It's not for me, personally. I think I have around $0.40 worth of BTC left. No idea what to do with it lol
 
I have been quite heavily involved in the cryptocurrency/blockchain space over the last year.

The main problem I see in the space is people only speculating on the price, and not actually using the coins for what they are designed for. This is why SO many people lose money when "investing" into crypto. If you take a look at CoinMarketCap you will see 1000s of different coins, which 99% are ALL garbage.

Some of these coins have an actual use-case (Staking coins for interest, consensus of the blockchain, lending loans, recieving loans) but majority of people just hold them on exchanges, and speculate on the price while the exchange is actually using the coins for their use case; not just speculation. It is a steep learning curve, but anything worth learning is never just given to you.

Crypto is still one of the biggest inovations of our time, it is just still in its very early days.
 

Robert

Member
I have half a dozen different wallets ranging from bitcoin to dogecoin, but I haven't got any cryptocurrency yet. The problem for me is that I can't buy any without having to send pictures of id such as a passport. The whole reason digital currency is a thing is to replace banks; so why do I have to give id to buy cryptocurrency? It is meant to be a safe and secure way of transferring money.
 
I've always been skeptical of the crypto. I don't understand why the people that say the dollar is a fiat currency (and to be fair, it is) want to put their faith in something with even less tangible value than dollar bills. Dollar bill are at least printed on a physical mediums. If they are worth nothing, they are worth at least the paper printed on.

Crypto doesn't even have that. It's just a bit of code on a grid somewhere. I fail to see how it's any less a fiat currency than any other is.
 

Robert

Member
I've always been skeptical of the crypto. I don't understand why the people that say the dollar is a fiat currency (and to be fair, it is) want to put their faith in something with even less tangible value than dollar bills. Dollar bill are at least printed on a physical mediums. If they are worth nothing, they are worth at least the paper printed on.

Crypto doesn't even have that. It's just a bit of code on a grid somewhere. I fail to see how it's any less a fiat currency than any other is.
yeah, I am part of generation snowflake (gen z); and everyone is going crazy about cryptocurrency. I can/can't see why. I, myself, would always prefer to have it in physical commodities such as gold or houses since they aren't digital. The whole point of crypto was to become a safer alternative; though it is a few lines of code stored on a digital (prone to breaking) device. And recovery phrases seem a little bit dodgy too.
 

Trashpanda

Member
Could never be bothered getting set up on any of the exchanges, but I'm all for it. As for physical, apparently you can get resin cards with small ammounts of precious metal inside to give each card a value which should hold relatively steady, which seems like a reasonable idea, so long as people don't start forging the cards and filling them with less valuable metals?
 

Hakametal

Member
I think you need to experience using crypto to appreciate it. No banks, no intermediaries, no governments, just free people using money that cannot be stopped by anyone.

First 3 people to download a Bitcoin Cash (BCH) wallet and post their receive address here gets $10 bucks.
 
I've always been skeptical of the crypto. I don't understand why the people that say the dollar is a fiat currency (and to be fair, it is) want to put their faith in something with even less tangible value than dollar bills. Dollar bill are at least printed on a physical mediums. If they are worth nothing, they are worth at least the paper printed on.

Crypto doesn't even have that. It's just a bit of code on a grid somewhere. I fail to see how it's any less a fiat currency than any other is.

You haven't done much research into the topic I guess, it is much more than "a bit of code". It is TONS of lines of code, not just hosted on "a grid somewhere" but it is hosted EVERYWHERE. Anyone participating in the Bitcoin network is hosting their own bank per say.

It is different to fiat by the fact that goverments can create as many dollars as they want. The difference is they can create this directly out of "thin air" but with Bitcoin you cannot just decide you need more and create it. Creating the currency actually takes power (Similiar to what Henry Ford spoke about, a currency based of off energy usage).

Just to touch on one last point; "They are worth at least the paper printed on" which is completely useless, and I am sure the people of Venezuela, Chile, Lebanon, or Zimbwawe actuallyVenezuela, Chile, Lebanon, or Zimbwawe actually understand how worthless their money is.



Imagine having to create stuff out of "money" to try and sell because it is completely worthless.
This is true everywhere, money only has value because people believe in their different goverments..

 
You haven't done much research into the topic I guess, it is much more than "a bit of code". It is TONS of lines of code, not just hosted on "a grid somewhere" but it is hosted EVERYWHERE. Anyone participating in the Bitcoin network is hosting their own bank per say.

It is different to fiat by the fact that goverments can create as many dollars as they want. The difference is they can create this directly out of "thin air" but with Bitcoin you cannot just decide you need more and create it. Creating the currency actually takes power (Similiar to what Henry Ford spoke about, a currency based of off energy usage).

Just to touch on one last point; "They are worth at least the paper printed on" which is completely useless, and I am sure the people of Venezuela, Chile, Lebanon, or Zimbwawe actuallyVenezuela, Chile, Lebanon, or Zimbwawe actually understand how worthless their money is.



Imagine having to create stuff out of "money" to try and sell because it is completely worthless.
This is true everywhere, money only has value because people believe in their different goverments..

Meh, we'll see. The only reason anything has value is because enough people agree it does. Bitcoin has been around for a long time now, and outside of the market, I've not seen any wide adoption of it, because outside of the market, nobody believes it has much value.
 
Cryptocurrency, as you know, is a block chain mediated decentralized peer reviewed currency system. Post 2018, most of the governments have outlawed the cryptocurrency owing to the fact that they deem it a threat to their financial integrity.

Back from where I come from, the government wants it banned but the judiciary is taking a different stance and I dont know anyone that uses cryptocurrency.

Do you all use it? Are you familiar with these terms like mining, mixing and all those? How does it exactly work?
This is slightly inaccurate as well, goverments have not outlawed cryptocurrencies.. I am not sure where you got this information.
Countries and goverments all around the world are regulating the cryptocurrency space. They would not be trying to regulate this if they were going to ban it, they would just ban it..

Even if countries did eventually outlaw the use of cryptocurrency, this would be a net positive as it is impossible to truly ban it. Not to mention it would prove Bitcoins theory that we have no control over what we do with our money.

Also note: The difference between Bitcoin, and EVERY OTHER crypto is massive. I would even correct myself with saying that 99.9% of cryptocurrencies are a complete ponzi, do not put bitcoin in the same basket as all other cryptos. There is a reason why these projects attempt to copy.
 

David1207

Member
I didn't used cryptocurrency for transaction but yes I traded cryptocurrencies 2 years back. I invested good amount of money in it but crypto market is highly risky and I lost all my money. So after that I never get into it again. I heard mining kind of words but never get into the deep of these words.
 
I didn't used cryptocurrency for transaction but yes I traded cryptocurrencies 2 years back. I invested good amount of money in it but crypto market is highly risky and I lost all my money. So after that I never get into it again. I heard mining kind of words but never get into the deep of these words.

It sounds like you bought the top, without doing much research.. Yes the crypto market is highly risky, but even more so if you are leverage trading. Remember that Bitcoin has been profitable to buy over 90% of the time. Trading anything is extremely risky, and majority of people who attempt it, lose money.
 

David1207

Member
It sounds like you bought the top, without doing much research.. Yes the crypto market is highly risky, but even more so if you are leverage trading. Remember that Bitcoin has been profitable to buy over 90% of the time. Trading anything is extremely risky, and majority of people who attempt it, lose money.
Honestly I didn't have much experience in trading. However I thought of trying once and that's why invested money in bitcoin first then later eth was booming so I shifted to eth and later on alt coins. So yeah somehow I have done some mistakes.

That's why I decided to stay away from it until I doesn't learn about how to control my emotions while trading.
 
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