Home Forums Hunting & Shooting Hunter's Campfire Cryptocurrency and China

With China outlawing the cryptocurrency. What does this mean for the rest of the world?

we don't answer to China last I checked. they want to drive the price down, gobble it up while the rest of the world pays to mine it. it's all about controling the money of the world. they'll reverse it and show their hand when the timing is right. unless they have changed strategies that have worked for them so far. buy it now and save it for 10 years. DON'T SELL

Eventually all currency will be crypto I imagine. But in the meantime some selling will make big money and some buying will lose big money. I know one person who thinks it’s the greatest thing and has invested heavily in it. He’s a socialist, high techie antifa Trump hater type so I hope he loses his ass.

China bans Bitcoin every few months. Tells ya something about how well the ban is working.

I understand they will begin arresting those trading cryptocurrency! I remember a few here pimped it hard, just wondered their take on the subject! I have no idea of it's future. I agree money is going plastic, but that is different! My knowledge of cryptocurrency is extremely limited, as it holds no intrest to me! Just read a headline and wondered what other's take on it was!

My take away is that it is not so immune to govt. interference as was previously thought. Any government. They all want control.

Bitcoin is like Tesla, it’s a cult. If they banned it in half the countries around the world, people would still buy it.

Not quite. Tesla at least makes a million cars a year or so. Bitcoin is a zero sum game.

I gave you my take on it, I own a fair amount of one of the most popular right now. My guess is eventually they will all stabilize and we'll see a set standard when they all merge into one. This is the ground floor for a few. If mine continues at the rate it's going I'm looking at early retirement. Those who scoff at it probably thought the automobile idea wouldn't catch on either lol.

This will be an interesting thing to watch play out. No way .gov will willingly cede the power crypto currency threatens to take away from them.

Per Tesla's web page they made 509,737 autos in 2020 and that was their highest production year up to then.

How can one ban something he can't put his hands on? One could still use such in several other countries.

For what it's worth shib coin is up 200% in the last month.
A one thousand dollar investment now in it will pay off huge in 10 years.

Anyone else watching ShibUSD? It just made a nice run tonight. Still time to buy in. I'm at 237% profit in two months and it's just getting warmed up. I've bought on a couple of platforms. Easy to download a crypto buying or stock trading app and buy some.

How does one cash out of these types of risky investments and who pays you? I work with a guy who basically over night lost? control, access or value of his rather large investment. To the point where he was considering flying out west to their main office.

I'm not touching cryptocurrencies.

I'd be curios to know more of your friends story, sounds like he might have fallen victim to a Ponzi scheme, I know people who have been duped the same way.

As for who pays you it's those who want the crypto for themselves, much like a stock, who pays you when you sells stocks? the ones buying it. Crypto is a bit different because many are accepted as currency and can be used to buy goods. the more places accept crypto currency X the higher it's value goes up. there are different models on how it's limited in order to achieve a realized value. like with Shiba Inu they made trillions of them, but many are "burned" for different reasons, such as at the time of a transaction. meaning it's self limiting. more transactions means fewer coins in "circulation" crypto can be held in a portfolio, through an intermediary or crypto wallet. if you have crypto in a wallet you can Stake it, basically a digital form of a CD meaning it takes it out of circulation and you can get interest on it by doing so. this is the simple explanation. those who bought when it was in it's infancy can buy more coins for fractions of a cent and watch the price rise, much like buying amazon stock in the 90's for a buck. with advancements in trading apps anyone with a smartphone can buy and sell stocks and cryptos at any level (most have a minimum buy in of 100 bucks) then you can trade and build a portfolio.

Admittedly, I know nothing about Crypto... but IF I was a Colombian drug Lord I would image it would be awesome.

I send a large drug shipment to America... it is received by Hunter... and I get Bitcoins by email... with no one able to track what just happened.

Is that how it works? Secret dark money and no tax (or whatever) fingerprints?

I made 987% selling 9mm on Gunbroker

that's how it was intended in a way, to be above govt regulation and as a way to combat inflation and exchange rates. the "problem" is until it stabilizes and finds it's equilibrium it can fluctuate as people buy and sell, BUT they all keep appreciating, so as a 5,10,20 year hold it could and will pay off huge unless the government does some radical legislation against it or tax it at 90%. that scenario is unlikely because it is so easy for the average joe to set up an account and buy, politicians are contending with millions of users, and not just a few fringe folks living on the dark web. Granted no one can predict the future, but history and trends show it's the wave of the future potentially. like anything don't bet more than you can afford to lose.