Good Sam Club Open Roads Forum: Thinking about investing in Crypto currency?
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 > Thinking about investing in Crypto currency?

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monkey44

Cape Cod, MA and Central Fla

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Posted: 06/28/19 07:02am Link  |  Quote  |  Print  |  Notify Moderator

Don't worry guys, invest all you want in this "empty hand currancy" backed by nothing. Put both hands behind your back, switch crypto-currancy between them, then grab it in one hand, put your hands in front of your face and open both fists. What do you see in your palms??

Altho, we'd offer a cash-out insurance for a ten-percent premium - just ask for the "Ponzi Policy" and we'll send out the invoice. [emoticon] Might take a few days to pay off tho, it's based in Nigeria.


Monkey44
Cape Cod Ma & Central Fla
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DilanYah

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Posted: 07/25/19 03:17am Link  |  Quote  |  Print  |  Notify Moderator

I was initially very skeptical about bitcoin. All of the bitcoin fan boys said crazy statements. Though now everything has changed. To be in the game, I invested very small amount into Bitcoin and just use Bitcoin Price Trackers to monitor the price. I believe that technology can help make the world a better place and bitcoin may be a part of that technology.

colliehauler

Mc Pherson KS USA

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Posted: 07/25/19 04:02am Link  |  Quote  |  Print  |  Notify Moderator

DilanYah wrote:

I was initially very skeptical about bitcoin. All of the bitcoin fan boys said crazy statements. Though now everything has changed. To be in the game, I invested very small amount into Bitcoin and just use Bitcoin Price Trackers to monitor the price. I believe that technology can help make the world a better place and bitcoin may be a part of that technology.
Time will tell. I remember when bottled water come out and thought to myself who would ever pay for something that's basically free.

monkey44

Cape Cod, MA and Central Fla

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Posted: 07/25/19 07:24am Link  |  Quote  |  Print  |  Notify Moderator

OK guys, walk into your favorite bank - or Crypto-store - with a hundred dollar bill and trade it for Bitcoins, then fill your wallet with what they give you. Now look in your wallet and see what's in it. Matter of fact, make a bet, heads or tails, and flip a bitcoin.

At least with invisible money, no one can rob you, well not in person anyway - someone's already done-dat elewhere.

But, on the serious side, what happens to the invisible money revolution when it tops out, and no one buys it anymore? Take it out of your bank and hide it under a mattress?? Make no sense to this camper.

way2roll

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Posted: 07/25/19 07:49am Link  |  Quote  |  Print  |  Notify Moderator

monkey44 wrote:

OK guys, walk into your favorite bank - or Crypto-store - with a hundred dollar bill and trade it for Bitcoins, then fill your wallet with what they give you. Now look in your wallet and see what's in it. Matter of fact, make a bet, heads or tails, and flip a bitcoin.

At least with invisible money, no one can rob you, well not in person anyway - someone's already done-dat elewhere.

But, on the serious side, what happens to the invisible money revolution when it tops out, and no one buys it anymore? Take it out of your bank and hide it under a mattress?? Make no sense to this camper.


You can't walk into a bank and trade cash for crypto currency. That's largely the issue with it (aside from ways to use it illegally), it's not recognized by chartered banks as actual currency because it's not backed by anything. Banks actually have measures in place to monitor and block crypto currency exchanges due to it's high risk for money laundering and funding illegal activities and terrorism. Never mind it's value is totally virtual.

images

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Posted: 07/25/19 12:36pm Link  |  Quote  |  Print  |  Notify Moderator

As long as your taking a flyer with money that you can afford to lose.
Whats the harm.
When I go to there race track I only bet $2 or $5 on a race and then only on a long shot.
Its entertainment.


"Oath Keeper"
Joe & Deb And A Senegal Parrot named Sunny

monkey44

Cape Cod, MA and Central Fla

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Posted: 07/25/19 08:33pm Link  |  Quote  |  Print  |  Notify Moderator

way2roll wrote:

monkey44 wrote:

OK guys, walk into your favorite bank - or Crypto-store - with a hundred dollar bill and trade it for Bitcoins, then fill your wallet with what they give you. Now look in your wallet and see what's in it. Matter of fact, make a bet, heads or tails, and flip a bitcoin.

At least with invisible money, no one can rob you, well not in person anyway - someone's already done-dat elewhere.

But, on the serious side, what happens to the invisible money revolution when it tops out, and no one buys it anymore? Take it out of your bank and hide it under a mattress?? Make no sense to this camper.


You can't walk into a bank and trade cash for crypto currency. That's largely the issue with it (aside from ways to use it illegally), it's not recognized by chartered banks as actual currency because it's not backed by anything. Banks actually have measures in place to monitor and block crypto currency exchanges due to it's high risk for money laundering and funding illegal activities and terrorism. Never mind it's value is totally virtual.



Yes my point exactly - no matter where you get it, it will not fill your wallet, or your palm--- Try it>>> empty hand!!

philh

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Posted: 07/26/19 10:02am Link  |  Quote  |  Print  |  Notify Moderator

There is no safety net protecting your electrons.

It's wildly speculative, and we've seen some huge price swings, even on the more recognized "currency".

They are only as good as the computers that store the data.

MintDice

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Posted: 12/19/19 07:12pm Link  |  Quote  |  Print  |  Notify Moderator

philh wrote:

There is no safety net protecting your electrons.

It's wildly speculative, and we've seen some huge price swings, even on the more recognized "currency".

They are only as good as the computers that store the data.


Yes, you are correct. There is much to say about what it is or isn't worth but it's price does swing around a lot. I was/am curious about what the technology brings to the table and did read a Bitcoin guide to kind of understand what was going on underneath the hood. Suffice to say, it's interesting stuff but it is a little scary too. I guess buyer beware and do your own research.

* This post was edited 12/19/19 09:05pm by MintDice *

wa8yxm

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Posted: 12/20/19 04:48am Link  |  Quote  |  Print  |  Notify Moderator

Another thing about Crypto Currency is the word Crypto. The thinking is that it is easy to hide it from the Infernal Revenue Service (IRS) and other government agencies (Police/FBI) so the question is are criminals using it to hide their criminal activity and if that's the case will RICO apply and you loose it all to the Government. ?

Still.. That's just rambling thoughts.. They may or may not apply.

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