|
|
Joined: Mar 2021
Posts: 2,427 Likes: 3
Campfire Regular
|
Campfire Regular
Joined: Mar 2021
Posts: 2,427 Likes: 3 |
There was a house in Joo Orlin's... They call the Rising Sun... Been the ruin of many a poor man... Lord i know i am not one...
|
|
|
|
|
Joined: Nov 2015
Posts: 5,658 Likes: 1
Campfire Tracker
|
Campfire Tracker
Joined: Nov 2015
Posts: 5,658 Likes: 1 |
Cryptocurrency is a utility and a very powerful one at that.
The problem arose, when 'investors" and I use that term lightly, began considering cryptocurrency as an investment. Explain utility vs investments! Your reasoning lost me. If I put mooney into an account, crypto or stocks, bond ect. isn't that an investment. Where does utility come into play. I can do anything with standard investments, that I can with crypto, except hide purchases. Correct! Or am I off base here?
|
|
|
|
|
Joined: Sep 2021
Posts: 4,021
Campfire Tracker
|
|
Campfire Tracker
Joined: Sep 2021
Posts: 4,021 |
I use cryptocurrency to instantly move funds from point A to point B without having to deal with banks, transaction fees, or forex exchanges - which can take days to complete. That's the utility of cryptocurrency.
The investment side is, cryptos change based upon availability and demand. Folks decided to play the volatility in price that cryptos like Bitcoin presented. They never intended to transfer value, they simply wanted to played the market and hopefully get rich in the process.
Si Vis Pacem, Para Bellum
|
|
|
|
|
Joined: Nov 2015
Posts: 5,658 Likes: 1
Campfire Tracker
|
|
Campfire Tracker
Joined: Nov 2015
Posts: 5,658 Likes: 1 |
So if you had 100 k in crypto, you could cash it out in one day, and have currency in your hand. How would that work? Regular transactions would take 72 hours, and you would have currency. At least thats been my experience. Not with 100k but with 20k.
Last edited by Heym06; 02/09/24.
|
|
|
|
|
Joined: Sep 2011
Posts: 60,913 Likes: 14
Campfire Kahuna
|
|
Campfire Kahuna
Joined: Sep 2011
Posts: 60,913 Likes: 14 |
What is behind the "bitcoin"?
These premises insured by a Sheltie in Training ,--- and Cooey.o
"May the Good Lord take a likin' to you"
|
|
|
|
|
Joined: Sep 2021
Posts: 4,021
Campfire Tracker
|
|
Campfire Tracker
Joined: Sep 2021
Posts: 4,021 |
I convert to cash the same day and within minutes. Coinbase has a phone app that can transfer out of your account to any bank in the world and in any currency.
I only keep a few coins in Coinbase for quick transfers or cashout. Most is held within a Ledger Nano X physical wallet that is in a fire safe.
This is not difficult or mysterious.
Si Vis Pacem, Para Bellum
|
|
|
|
|
Joined: Sep 2021
Posts: 4,021
Campfire Tracker
|
|
Campfire Tracker
Joined: Sep 2021
Posts: 4,021 |
What is behind the "bitcoin"? About the same that is behind the US dollar - vapor value.
Si Vis Pacem, Para Bellum
|
|
|
|
|
Joined: Nov 2015
Posts: 5,658 Likes: 1
Campfire Tracker
|
|
Campfire Tracker
Joined: Nov 2015
Posts: 5,658 Likes: 1 |
Phone app, well I should've figured. How often have you used this bitcoin, to purchase something, without converting to cash or card! Large purchases type stuff. Land, car or truck something that titles. Some one or place that accepts bitcoin? Time for me to do more research !!!
|
|
|
|
|
Joined: Oct 2010
Posts: 7,712 Likes: 7
Campfire Outfitter
|
|
Campfire Outfitter
Joined: Oct 2010
Posts: 7,712 Likes: 7 |
So if you had 100 k in crypto, you could cash it out in one day, and have currency in your hand. At what bank have you taken $100k out of your account and had the fiat in your hand on the same day?
|
|
|
|
|
Joined: Nov 2015
Posts: 5,658 Likes: 1
Campfire Tracker
|
|
Campfire Tracker
Joined: Nov 2015
Posts: 5,658 Likes: 1 |
So if you had 100 k in crypto, you could cash it out in one day, and have currency in your hand. At what bank have you taken $100k out of your account and had the fiat in your hand on the same day? If you read the entire comment you would see, never. Whats your point?
|
|
|
|
|
Joined: Feb 2013
Posts: 21,801 Likes: 8
Campfire Ranger
|
|
OP
Campfire Ranger
Joined: Feb 2013
Posts: 21,801 Likes: 8 |
What is behind the "bitcoin"? About the same that is behind the US dollar - vapor value. Damn... That made me laugh.
If you are not actively engaging EVERY enemy you encounter... you are allowing another to fight for you... and that is cowardice... plain and simple.
|
|
|
|
|
Joined: Feb 2013
Posts: 21,801 Likes: 8
Campfire Ranger
|
|
OP
Campfire Ranger
Joined: Feb 2013
Posts: 21,801 Likes: 8 |
What is behind the "bitcoin"? I hope you find a BBC behind YOU...
If you are not actively engaging EVERY enemy you encounter... you are allowing another to fight for you... and that is cowardice... plain and simple.
|
|
|
|
|
Joined: Oct 2010
Posts: 7,712 Likes: 7
Campfire Outfitter
|
|
Campfire Outfitter
Joined: Oct 2010
Posts: 7,712 Likes: 7 |
So if you had 100 k in crypto, you could cash it out in one day, and have currency in your hand. At what bank have you taken $100k out of your account and had the fiat in your hand on the same day? If you read the entire comment you would see, never. Whats your point? Look up and you can see it.
|
|
|
|
|
Joined: Apr 2003
Posts: 6,076
Campfire Tracker
|
|
Campfire Tracker
Joined: Apr 2003
Posts: 6,076 |
Great trading vehicle.
Make your $$$$ and run.
If you think the gov is going to allow a competitor to their currency, you really are smoking something.
Could be the short of the century....
|
|
|
|
|
Joined: Dec 2007
Posts: 11,211
Campfire Outfitter
|
|
Campfire Outfitter
Joined: Dec 2007
Posts: 11,211 |
So the only thing needed to get into this crypto currency are US dollars?
|
|
|
|
|
Joined: Jan 2010
Posts: 6,209 Likes: 1
Campfire Tracker
|
|
Campfire Tracker
Joined: Jan 2010
Posts: 6,209 Likes: 1 |
Friend of mine i share coffee with has been regaling me with the weekly play by play.
He makes about 45,000/yr as a teacher. his bitcoin profits (not counting taxes owed) since sept is 250,000. He's in and out, I think frequently.
I dont really know. But he's a mousy little dorky dude and isnt prone to exaggeration.
Pretty interesting.
I am not taking part. Missed that boat, which I suppose i am ok with.
Quit giving in inch by inch then looking back to lament the mile behind ya and wonder how to preserve those few feet left in front of ya. They'll never stop until they're stopped. That's a fact.
|
|
|
|
|
Joined: Jun 2002
Posts: 131,750 Likes: 20
Campfire Sage
|
|
Campfire Sage
Joined: Jun 2002
Posts: 131,750 Likes: 20 |
Missed that boat, which I suppose i am ok with. Lots of people missed the Beanie Baby boat, too. It doesn't mean that those who got rich from it were wise investors.
|
|
|
|
|
Joined: Aug 2023
Posts: 449 Likes: 1
Campfire Member
|
|
Campfire Member
Joined: Aug 2023
Posts: 449 Likes: 1 |
What is behind the "bitcoin"? About the same that is behind the US dollar - vapor value. And Gold and Silver for that matter. Everything is worth whatever people think it is worth.
|
|
|
|
|
Joined: Sep 2021
Posts: 4,021
Campfire Tracker
|
|
Campfire Tracker
Joined: Sep 2021
Posts: 4,021 |
Or in the case of a diamond. A diamond is worth what the DeBeers cartel says it's worth.
Si Vis Pacem, Para Bellum
|
|
|
|
|
Joined: Feb 2020
Posts: 1,197
Campfire Regular
|
|
Campfire Regular
Joined: Feb 2020
Posts: 1,197 |
So you guys are cheering on another way government can control you. It’s freaking amazing!
|
|
|
|
|
554 members (1234, 10Glocks, 01Foreman400, 1lessdog, 17CalFan, 10gaugemag, 62 invisible),
2,475
guests, and
1,178
robots. |
|
Key:
Admin,
Global Mod,
Mod
|
|
|
Forums81
Topics1,192,405
Posts18,488,944
Members73,970
| |
Most Online11,491
Jul 7th, 2023
|
|
|
|
