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OT: Crypto Currency
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All4One Online
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Post: #61
RE: OT: Crypto Currency
(08-21-2021 08:39 PM)HoustonRocks Wrote:  Blockchain technology is beautiful. It is so appealing that companies are seeking other ways to use it. That does not justify crypto currency.

One reason to be watchful. The U.S. Government has used depreciation of the dollar as a way of reducing its debt. It works like a tax on everybody. If the government cannot find a way to depreciate crypto currency, it will kill it. The government has long passed the point where it could pay its debt. When it quits borrowing more money the economy will crash. There is no other way to resolve its debt which is increasing rapidly.

My future is in precious metals.


I'm not too concerned. If the government is concerned about depreciation of the dollar, then Congress should stop pushing for socialist reform.

Edit: Thank you, FrankyP.
(This post was last modified: 09-05-2021 08:34 AM by All4One.)
08-21-2021 09:01 PM
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herdfan129 Online
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Post: #62
RE: OT: Crypto Currency
(08-21-2021 08:39 PM)HoustonRocks Wrote:  Blockchain technology is beautiful. It is so appealing that companies are seeking other ways to use it. That does not justify crypto currency.

One reason to be watchful. The U.S. Government has used depreciation of the dollar as a way of reducing its debt. It works like a tax on everybody. If the government cannot find a way to depreciate crypto currency, it will kill it. The government has long passed the point where it could pay its debt. When it quits borrowing more money the economy will crash. There is no other way to resolve its debt which is increasing rapidly.

My future is in precious metals.

I will agree that it’s a concern, but I also think it’s the ONLY thing that can kill or stop crypto.

How can you say blockchain is beautiful and is the future and then say it’s not smart to invest in that?
08-21-2021 09:39 PM
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EagleNationRising Online
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Post: #63
RE: OT: Crypto Currency
(08-21-2021 09:39 PM)herdfan129 Wrote:  
(08-21-2021 08:39 PM)HoustonRocks Wrote:  Blockchain technology is beautiful. It is so appealing that companies are seeking other ways to use it. That does not justify crypto currency.

One reason to be watchful. The U.S. Government has used depreciation of the dollar as a way of reducing its debt. It works like a tax on everybody. If the government cannot find a way to depreciate crypto currency, it will kill it. The government has long passed the point where it could pay its debt. When it quits borrowing more money the economy will crash. There is no other way to resolve its debt which is increasing rapidly.

My future is in precious metals.

I will agree that it’s a concern, but I also think it’s the ONLY thing that can kill or stop crypto.

How can you say blockchain is beautiful and is the future and then say it’s not smart to invest in that?

Blockchain and Cryptocurrency shouldn’t be thought of as a singular entity. Cryptocurrency is the current method which is invoking the use of blockchain technology. As time moves forward, there will be other much greater uses for blockchain. Crypto may or may not die a brutal death, but the technology behind it will live on.
08-21-2021 11:59 PM
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HogDawg Offline
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Post: #64
RE: OT: Crypto Currency
(08-21-2021 11:59 PM)EagleNationRising Wrote:  
(08-21-2021 09:39 PM)herdfan129 Wrote:  
(08-21-2021 08:39 PM)HoustonRocks Wrote:  Blockchain technology is beautiful. It is so appealing that companies are seeking other ways to use it. That does not justify crypto currency.

One reason to be watchful. The U.S. Government has used depreciation of the dollar as a way of reducing its debt. It works like a tax on everybody. If the government cannot find a way to depreciate crypto currency, it will kill it. The government has long passed the point where it could pay its debt. When it quits borrowing more money the economy will crash. There is no other way to resolve its debt which is increasing rapidly.

My future is in precious metals.

I will agree that it’s a concern, but I also think it’s the ONLY thing that can kill or stop crypto.

How can you say blockchain is beautiful and is the future and then say it’s not smart to invest in that?

Blockchain and Cryptocurrency shouldn’t be thought of as a singular entity. Cryptocurrency is the current method which is invoking the use of blockchain technology. As time moves forward, there will be other much greater uses for blockchain. Crypto may or may not die a brutal death, but the technology behind it will live on.

This is EXACTLY correct. "Blockchain" is simply the technology that's used by cryptocurrency. They two are not one and the same. The Blockchain technology can be used for many other benefits besides cryptocurrency; some examples are cross border payments, personal identity security, anti money laundering practices, securing medical data, etc.... The Fintech's are using Blockchain technology for a lot of break throughs.
08-22-2021 10:43 AM
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goliath74 Offline
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Post: #65
RE: OT: Crypto Currency
(08-20-2021 11:47 PM)Attackcoog Wrote:  
(08-20-2021 11:25 PM)rileylives Wrote:  
(08-20-2021 11:16 PM)herdfan129 Wrote:  It’s ok if you think that. I used to think that too... because I didn’t understand what it truly was.

I would encourage you to stop thinking of it as a digital currency (although that’s what Bitcoin is), and start looking in to the actual blockchain technology. Ford, BMW, Warren Buffett, etc... they wouldn’t be investing a LOT of money in to this blockchain technology if it didn’t at least have potential.

Crypto only holds a value based on someone else believing crypto has value.

It holds no tangible value aside from dark web dwellers. Its uber risky. No thank you.

The dollar may continue to devalue, however it at least has a national standard. OG crypto will ultimately fail because it has no unifying nation standard. It only has value as an entity because it cannot become replicated. Its going to continue losing value because it is no longer accurately true to say it is an untraceable commodity.


Since we got off the gold standard in the 1970's---that would be no different from the dollar. Today, the dollar is a fiat currency. It is not backed by any commodity like gold. The dollar has value because our government says it does---but its just paper---and we devalue it daily by printing more and more of it. There may be good arguments against the long term future of cryptocurrency---but the "it has no real value" is a fairly ineffective argument when we live in an economy based on a fiat currency.

If I were going to argue why its future use is limited---my argument would be it lacks stability as a repository for wealth. You cant run a bussiness where you accept cyrpto currency as payment because the currency might lose 20% of its value in a week. A useful currency has to be more stable than that. Right now---cryto currency is more speculation than investing. I own some---but its high risk money that Im basically speculating/gambling with.

The dollar has value for several reasons:

1. US Treasury is willing to pay for your investment in dollars. We are good on paying the interest on our federal borrowing.
2. Everyone wants to have it
3. US inflation is actually low enough that dollar appears to be almost cut in stone, compared to other currencies.
(This post was last modified: 08-22-2021 10:56 AM by goliath74.)
08-22-2021 10:55 AM
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Saint3333 Online
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Post: #66
RE: OT: Crypto Currency
Inflation is low? Not currently.
08-22-2021 02:29 PM
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herdfan129 Online
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Post: #67
RE: OT: Crypto Currency
What some of you are not understanding is that most of the crypto currencies are basically the same as buying stock in THAT specific blockchain company.

Cross border payments... hello XRP Coin. The XRP coins you can purchase are the same as you buying “stock” in Ripple, the company who is using blockchain technology to do cross border payments. Ripple is the company, the blockchain technology used to make those cross border payments is XRP. When you buy XRP coins you are buying stock in that company/technology.
(This post was last modified: 08-22-2021 02:30 PM by herdfan129.)
08-22-2021 02:29 PM
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FAU Connoisseur! Offline
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Post: #68
RE: OT: Crypto Currency
(08-20-2021 10:42 PM)herdfan129 Wrote:  Mods feel free to move this if need be. I couldn’t find anywhere on this board where this might go....

Who else is investing in crypto. Would love to meet some fellow CUSA fans (or anyone else) who are investing in crypto. What are you currently investing in. What’s the future looking like? How long will this bull run last?

You don't invest in crypto...you speculate.
08-22-2021 03:02 PM
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FAU Connoisseur! Offline
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Post: #69
RE: OT: Crypto Currency
(08-21-2021 08:30 PM)herdfan129 Wrote:  I’ve been waiting on binance to verify me for two days now. No idea what’s going on.

You don't exist, you might be in a Matrix and not know.
08-22-2021 03:10 PM
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Post: #70
RE: OT: Crypto Currency
(08-21-2021 08:39 PM)HoustonRocks Wrote:  Blockchain technology is beautiful. It is so appealing that companies are seeking other ways to use it. That does not justify crypto currency.

One reason to be watchful. The U.S. Government has used depreciation of the dollar as a way of reducing its debt. It works like a tax on everybody. If the government cannot find a way to depreciate crypto currency, it will kill it. The government has long passed the point where it could pay its debt. When it quits borrowing more money the economy will crash. There is no other way to resolve its debt which is increasing rapidly.

My future is in precious metals.

My future is ammo, there is a worldwide shortage. Good luck with your blockchains when the world power grids crumble.
08-22-2021 03:12 PM
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ghostofclt! Offline
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Post: #71
RE: OT: Crypto Currency
clt bets a bunch of you bought Nft’s
08-22-2021 04:57 PM
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everyone Offline
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Post: #72
RE: OT: Crypto Currency
(08-22-2021 03:02 PM)FAU Connoisseur! Wrote:  
(08-20-2021 10:42 PM)herdfan129 Wrote:  Mods feel free to move this if need be. I couldn’t find anywhere on this board where this might go....

Who else is investing in crypto. Would love to meet some fellow CUSA fans (or anyone else) who are investing in crypto. What are you currently investing in. What’s the future looking like? How long will this bull run last?

You don't invest in crypto...you speculate.

Ok...AND? Oil is speculative but wars are started over having it available. Speculation should have a place in everyone's portfolio (everyone ME and everyone everyone).
08-22-2021 06:11 PM
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FAU Connoisseur! Offline
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Post: #73
RE: OT: Crypto Currency
(08-22-2021 06:11 PM)everyone Wrote:  
(08-22-2021 03:02 PM)FAU Connoisseur! Wrote:  
(08-20-2021 10:42 PM)herdfan129 Wrote:  Mods feel free to move this if need be. I couldn’t find anywhere on this board where this might go....

Who else is investing in crypto. Would love to meet some fellow CUSA fans (or anyone else) who are investing in crypto. What are you currently investing in. What’s the future looking like? How long will this bull run last?

You don't invest in crypto...you speculate.

Ok...AND? Oil is speculative but wars are started over having it available. Speculation should have a place in everyone's portfolio (everyone ME and everyone everyone).

I made no argument. I stated that you speculate in crypto. I don't invest in oil either, as you said I speculate in oil.
08-22-2021 06:23 PM
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bit_9 Offline
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Post: #74
RE: OT: Crypto Currency
(08-22-2021 03:12 PM)FAU Connoisseur! Wrote:  
(08-21-2021 08:39 PM)HoustonRocks Wrote:  Blockchain technology is beautiful. It is so appealing that companies are seeking other ways to use it. That does not justify crypto currency.

One reason to be watchful. The U.S. Government has used depreciation of the dollar as a way of reducing its debt. It works like a tax on everybody. If the government cannot find a way to depreciate crypto currency, it will kill it. The government has long passed the point where it could pay its debt. When it quits borrowing more money the economy will crash. There is no other way to resolve its debt which is increasing rapidly.

My future is in precious metals.

My future is ammo, there is a worldwide shortage. Good luck with your blockchains when the world power grids crumble.
Can't be both? :) With the new ban on Russian ammo its going to get even worse.
08-22-2021 09:10 PM
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Post: #75
RE: OT: Crypto Currency
(08-22-2021 04:57 PM)ghostofclt! Wrote:  clt bets a bunch of you bought Nft’s

I haven’t bought NFTs but they are booming. I’m thinking about dumping some money in to REVV Motorsports which is partnered with the NFT stuff and tied in with it as it’s a virtual racing series. Just signed some NASCAR driver as an ambassador.
08-22-2021 09:19 PM
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herdfan129 Online
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Post: #76
RE: OT: Crypto Currency
Anyone else holding ADA? It’s getting added to the Japanese exchange on Thursday so it should jump again and then the big day of releasing the smart contracts on Sept 12th. I’m also big on ACH and gambling for a big jump on it over the next few months.
08-22-2021 09:21 PM
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bit_9 Offline
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OT: Crypto Currency
08-23-2021 06:56 AM
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All4One Online
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Post: #78
RE: OT: Crypto Currency
(08-22-2021 09:21 PM)herdfan129 Wrote:  Anyone else holding ADA? It’s getting added to the Japanese exchange on Thursday so it should jump again and then the big day of releasing the smart contracts on Sept 12th. I’m also big on ACH and gambling for a big jump on it over the next few months.


Yep. Currently holding my entire investment on Binance US in Cardano, which is projected to more than triple in price by the end of the year.

Also holding 100% in REN on Gemini, which has doubled in price in the last four weeks.
08-23-2021 01:05 PM
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bit_9 Offline
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Post: #79
RE: OT: Crypto Currency
(08-22-2021 09:21 PM)herdfan129 Wrote:  Anyone else holding ADA? It’s getting added to the Japanese exchange on Thursday so it should jump again and then the big day of releasing the smart contracts on Sept 12th. I’m also big on ACH and gambling for a big jump on it over the next few months.

Just a little. Tempted to take my gains from Raven and sell and reinvest in ADA.
(This post was last modified: 08-23-2021 01:27 PM by bit_9.)
08-23-2021 01:26 PM
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Post: #80
RE: OT: Crypto Currency
Yeah, I have a couple bucks in Cardano. It’s had a great few months lately.
08-23-2021 01:32 PM
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