(11-17-2021 01:25 PM)UTSAMarineVet09 Wrote:  

(11-17-2021 01:20 PM)b2b Wrote:  It's a sham that screws more people than it helps.

I bought some, about $30 worth of it, just trying to see what it does. Heard that its just like dodgecoin, a viral crypto that will die in a couple of weeks.

I'm talking crypto in general.

Sent from my Pixel 3 using Tapatalk

(11-17-2021 01:40 PM)b2b Wrote:  

(11-17-2021 01:25 PM)UTSAMarineVet09 Wrote:  

(11-17-2021 01:20 PM)b2b Wrote:  It's a sham that screws more people than it helps.

I bought some, about $30 worth of it, just trying to see what it does. Heard that its just like dodgecoin, a viral crypto that will die in a couple of weeks.

I'm talking crypto in general.

Sent from my Pixel 3 using Tapatalk

ahhh ok, I am just using funds that have been given to me. At this point in time, I have invested $0 of my own money.

I love crypto. I found this token and it is unique and provides a utility.

Tokens have a better chance to be successful when they solve a problem, have utility, and possess strong leadership. This coin has all three. ClassicDoge (XDOGE) plans to bring a holistic pet care management system to a social app with an adoption feature and volunteer system to help rescue animals. ClassicDoge has a talented development team about to begin marketing the product with a major marketing firm. This is a ground floor opportunity that is unique and overdue for pet lovers


Check it out... Here is the website.

https://classicdoge.io/



I am not providing financial advice or services, just belief in the product.

(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.

That's me. I gladly risk a couple of grand. If one of mine takes off I'll cash out if/when the profit is too great to ignore. If I lose it, oh well.

I know a couple of people who will never have to work again because of bitcoin. One guy rented an apartment and filled it with graphics processors that mined all day. That was at least 5 years ago and he is now retired.

I also know that he was an exception and not the rule but it shows that it can and does happen.

(01-01-2022 08:30 AM)TigerBlue4Ever Wrote:  

(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.

That's me. I gladly risk a couple of grand. If one of mine takes off I'll cash out if/when the profit is too great to ignore. If I lose it, oh well.

I know a couple of people who will never have to work again because of bitcoin. One guy rented an apartment and filled it with graphics processors that mined all day. That was at least 5 years ago and he is now retired.

I also know that he was an exception and not the rule but it shows that it can and does happen.

Speaking about the gold standard, William Jennings Bryan, a former attorney, came up with an alternative to the gold standard that he really pushed during the early twentieth century called the " silver standard," where our money would be backed by silver instead of gold, in the days when we (America) were still on the gold standard. Bryan argued that it would be a win-win for everyone. The silver miners would have more reason to mine silver and loans would be paid off easier. He never advocated for fiat backing (government say-so only) though. I wouldn't mind going to a silver standard myself, and I think it would be a nice compromise between the gold standard and fiat money.