Bitcoin and Crypto

[avocadoontoast]

The Market is really Pumping at the moment.

Some of my Alt-Coins have shot up.

Is it bad that I want a massive correction so I can get a bigger slice of the Action.???

Either we’re in a bear market rally or this is stage 2 of the bull cycle. I’m thinking it might be the latter, especially if BTC can remain above the 20w sma.

 

[Sco77y]

Yes, this run has been a bit of a shock (even by crypto standards). I was convinced we were in a 2018-2020 style bear market again. I'd be very surprised if BTC made it back to it's ATH, especially with this news from the US, but who knows.

Started selling out a little BTC yesterday, and will follow the market up if it stays on this run.

 

[Bigscreentv]

Cardano in a good run. Hopefully growth continues to smart contracts launch.

 

[mike]

Bitcoin 2022 Gold Coast

https://www.btcgoldcoast.com/event-details/bitcoin-2022-gold-coast

 

[Papacito]

Unless you're short selling crypto, get out. It's the biggest financial bubble since tulips.

 

[avocadoontoast]

Unless you're short selling crypto, get out. It's the biggest financial bubble since tulips.

If you look at something like Ethereum it's actually undervalued.

 

[Cultured_Bogan]

Apart from deep web sites that allowed you to take out hits and buy drugs, where can you actually spend crypto? Or is just a tool to cash out on?

 

[avocadoontoast]

Apart from deep web sites that allowed you to take out hits and buy drugs, where can you actually spend crypto? Or is just a tool to cash out on?

There are lots of uses for blockchain technology. Bitcoin was the first so you hear about it the most, but essentially it's used as digital gold (hedge against inflation and store of value) and doesn't really have a huge amount of uses.

If you look at something like Ethereum on the other hand, it's used for everything from decentralised finance (Visa/Mastercard and a number of large banks are investing in their blockchain capability because transacting via blockchain smart contracts are secure and efficient) to nft's (digital art etc). Opensea, which is marketplace for trading nft's on the Ethereum blockchain, is transacting around US$300m of transactions per day.

Moving forward blockchain can be used for medical records, education, everything.

I personally don't view holding crypto coins as a way to transact, I view it more as an investment in the platform, almost like investing in a stock.

 

[Cultured_Bogan]

Apart from deep web sites that allowed you to take out hits and buy drugs, where can you actually spend crypto? Or is just a tool to cash out on?

There are lots of uses for blockchain technology. Bitcoin was the first so you hear about it the most, but essentially it's used as digital gold (hedge against inflation and store of value) and doesn't really have a huge amount of uses.

If you look at something like Ethereum on the other hand, it's used for everything from decentralised finance (Visa/Mastercard and a number of large banks are investing in their blockchain capability because transacting via blockchain smart contracts are secure and efficient) to nft's (digital art etc). Opensea, which is marketplace for trading nft's on the Ethereum blockchain, is transacting around US$300m of transactions per day.

Moving forward blockchain can be used for medical records, education, everything.

I personally don't view holding crypto coins as a way to transact, I view it more as an investment in the platform, almost like investing in a stock.

Does the other crypto's behave like Bitcoin through mining?

 

[finnzo]

Apart from deep web sites that allowed you to take out hits and buy drugs, where can you actually spend crypto? Or is just a tool to cash out on?

There are lots of uses for blockchain technology. Bitcoin was the first so you hear about it the most, but essentially it's used as digital gold (hedge against inflation and store of value) and doesn't really have a huge amount of uses.

If you look at something like Ethereum on the other hand, it's used for everything from decentralised finance (Visa/Mastercard and a number of large banks are investing in their blockchain capability because transacting via blockchain smart contracts are secure and efficient) to nft's (digital art etc). Opensea, which is marketplace for trading nft's on the Ethereum blockchain, is transacting around US$300m of transactions per day.

Moving forward blockchain can be used for medical records, education, everything.

I personally don't view holding crypto coins as a way to transact, I view it more as an investment in the platform, almost like investing in a stock.

Does the other crypto's behave like Bitcoin through mining?

There is many different types of crypto currency’s with many different uses this is the future guys I’m so I highly recommend people start trying t9 get there head around it. it sounds very strange and confusion at first but slowly over time you will start to get it

 

[finnzo]

For example xrp is used to transfer huge sums of money all over the world in a matter of seconds

 

[avocadoontoast]

Apart from deep web sites that allowed you to take out hits and buy drugs, where can you actually spend crypto? Or is just a tool to cash out on?

There are lots of uses for blockchain technology. Bitcoin was the first so you hear about it the most, but essentially it's used as digital gold (hedge against inflation and store of value) and doesn't really have a huge amount of uses.

If you look at something like Ethereum on the other hand, it's used for everything from decentralised finance (Visa/Mastercard and a number of large banks are investing in their blockchain capability because transacting via blockchain smart contracts are secure and efficient) to nft's (digital art etc). Opensea, which is marketplace for trading nft's on the Ethereum blockchain, is transacting around US$300m of transactions per day.

Moving forward blockchain can be used for medical records, education, everything.

I personally don't view holding crypto coins as a way to transact, I view it more as an investment in the platform, almost like investing in a stock.

Does the other crypto's behave like Bitcoin through mining?

Not of all them, no. Bitcoin uses proof of work consensus mechanism which is the mining you speak of. Ethereum, Litecoin, Doge and a number of others use it too, but Ethereum is moving to proof of stake next year which uses far less energy.

 

[Dyloh]

Apart from deep web sites that allowed you to take out hits and buy drugs, where can you actually spend crypto? Or is just a tool to cash out on?

There are lots of uses for blockchain technology. Bitcoin was the first so you hear about it the most, but essentially it's used as digital gold (hedge against inflation and store of value) and doesn't really have a huge amount of uses.

If you look at something like Ethereum on the other hand, it's used for everything from decentralised finance (Visa/Mastercard and a number of large banks are investing in their blockchain capability because transacting via blockchain smart contracts are secure and efficient) to nft's (digital art etc). Opensea, which is marketplace for trading nft's on the Ethereum blockchain, is transacting around US$300m of transactions per day.

Moving forward blockchain can be used for medical records, education, everything.

I personally don't view holding crypto coins as a way to transact, I view it more as an investment in the platform, almost like investing in a stock.

Does the other crypto's behave like Bitcoin through mining?

Grab the Coinbase app mate and do the learn and earns. It will teach you a bit about some of the use cases and give you a like $50-100 in cryptocurrencies. The information you’ll learn about the monetary system alone is worth the research.

 

[TheDaBoss]

Crypto is used in online casinos

 

[Magpie_Magic]

I've been trading and investing in shares and commodities for many years (physical assets not CFDs or similar) certainly not an easy gig but have been wondering about Cryptocurrencies in general for a while. To be honest I look at amazement at the excellent performance of these verses ASX stocks and often wonder why I don't simply switch to trading and investing in these instead of real assets and companies which make and payout billions in profits and dividends.
Firstly congratulations to all who have made money on these things. Whatever they are if you make your money you make your money. Why own BHP which made 20 billion last half and see it trading at the same level as 2007 when one can buy Cryptocurrencies and get set up perhaps whatever happens in the future .

Anyway these are my questions about Cryptocurrencies and whats held me back at my loss till now and wonder what you guys think.

1) There are literally 100s of these so it's not as if they are a finite supply. Sure one can say bitcoin is but there are new Cryptocurrencies popping up every day.
2) If they are a currency why should they not be worth a stable value of say $1 or $50000. Surely they can't appreciate forever.
3) What are they backed by value wise,you can't even touch these things so there not really a collectable either.
4) If they are meant to supersede currency or become more valuable than it why wouldn't the government's and central banks which want to control money supply just outright ban a competitor. If these keep inflating forever and a lot of people make money on them it defeats central banks control of inflation , why not just ban them.

As a magpie supporter way back there is a bit of anarchy in me and years ago could have imagined alternative currency but just thought the establishment would just squash it.

Thoughts

 

[Cultured_Bogan]

Apart from deep web sites that allowed you to take out hits and buy drugs, where can you actually spend crypto? Or is just a tool to cash out on?

There are lots of uses for blockchain technology. Bitcoin was the first so you hear about it the most, but essentially it's used as digital gold (hedge against inflation and store of value) and doesn't really have a huge amount of uses.

If you look at something like Ethereum on the other hand, it's used for everything from decentralised finance (Visa/Mastercard and a number of large banks are investing in their blockchain capability because transacting via blockchain smart contracts are secure and efficient) to nft's (digital art etc). Opensea, which is marketplace for trading nft's on the Ethereum blockchain, is transacting around US$300m of transactions per day.

Moving forward blockchain can be used for medical records, education, everything.

I personally don't view holding crypto coins as a way to transact, I view it more as an investment in the platform, almost like investing in a stock.

Does the other crypto's behave like Bitcoin through mining?

Grab the Coinbase app mate and do the learn and earns. It will teach you a bit about some of the use cases and give you a like $50-100 in cryptocurrencies. The information you’ll learn about the monetary system alone is worth the research.

Oh I won't be investing it. Just about to move my super over to a SMSF in property.

Just curious if they all operated the same way.

 

[InBenjiWeTrust]

Apart from deep web sites that allowed you to take out hits and buy drugs, where can you actually spend crypto? Or is just a tool to cash out on?

There are lots of uses for blockchain technology. Bitcoin was the first so you hear about it the most, but essentially it's used as digital gold (hedge against inflation and store of value) and doesn't really have a huge amount of uses.

If you look at something like Ethereum on the other hand, it's used for everything from decentralised finance (Visa/Mastercard and a number of large banks are investing in their blockchain capability because transacting via blockchain smart contracts are secure and efficient) to nft's (digital art etc). Opensea, which is marketplace for trading nft's on the Ethereum blockchain, is transacting around US$300m of transactions per day.

Moving forward blockchain can be used for medical records, education, everything.

I personally don't view holding crypto coins as a way to transact, I view it more as an investment in the platform, almost like investing in a stock.

Does the other crypto's behave like Bitcoin through mining?

Grab the Coinbase app mate and do the learn and earns. It will teach you a bit about some of the use cases and give you a like $50-100 in cryptocurrencies. The information you’ll learn about the monetary system alone is worth the research.

Oh I won't be investing it. Just about to move my super over to a SMSF in property.

Just curious if they all operated the same way.

I run my SMSF for 20 years, I would suggest you to use only money that you can afford to lose to invest into "risky/high geard" instruments - CFDs, Bitcoins, Option and Futures. And never chase your losses!
The majority may be invested in the property (direct or indirect), "safe"/non aggressive funds, "non aggressive" direct shares and cash.

 

[Dyloh]

Apart from deep web sites that allowed you to take out hits and buy drugs, where can you actually spend crypto? Or is just a tool to cash out on?

There are lots of uses for blockchain technology. Bitcoin was the first so you hear about it the most, but essentially it's used as digital gold (hedge against inflation and store of value) and doesn't really have a huge amount of uses.

If you look at something like Ethereum on the other hand, it's used for everything from decentralised finance (Visa/Mastercard and a number of large banks are investing in their blockchain capability because transacting via blockchain smart contracts are secure and efficient) to nft's (digital art etc). Opensea, which is marketplace for trading nft's on the Ethereum blockchain, is transacting around US$300m of transactions per day.

Moving forward blockchain can be used for medical records, education, everything.

I personally don't view holding crypto coins as a way to transact, I view it more as an investment in the platform, almost like investing in a stock.

Does the other crypto's behave like Bitcoin through mining?

Grab the Coinbase app mate and do the learn and earns. It will teach you a bit about some of the use cases and give you a like $50-100 in cryptocurrencies. The information you’ll learn about the monetary system alone is worth the research.

Oh I won't be investing it. Just about to move my super over to a SMSF in property.

Just curious if they all operated the same way.

Yeah no dramas, I just suggested Coinbase as it’s a super friendly way to learn about different blockchains with short videos and quizzes.

 

[Cultured_Bogan]

Apart from deep web sites that allowed you to take out hits and buy drugs, where can you actually spend crypto? Or is just a tool to cash out on?

There are lots of uses for blockchain technology. Bitcoin was the first so you hear about it the most, but essentially it's used as digital gold (hedge against inflation and store of value) and doesn't really have a huge amount of uses.

If you look at something like Ethereum on the other hand, it's used for everything from decentralised finance (Visa/Mastercard and a number of large banks are investing in their blockchain capability because transacting via blockchain smart contracts are secure and efficient) to nft's (digital art etc). Opensea, which is marketplace for trading nft's on the Ethereum blockchain, is transacting around US$300m of transactions per day.

Moving forward blockchain can be used for medical records, education, everything.

I personally don't view holding crypto coins as a way to transact, I view it more as an investment in the platform, almost like investing in a stock.

Does the other crypto's behave like Bitcoin through mining?

Grab the Coinbase app mate and do the learn and earns. It will teach you a bit about some of the use cases and give you a like $50-100 in cryptocurrencies. The information you’ll learn about the monetary system alone is worth the research.

Oh I won't be investing it. Just about to move my super over to a SMSF in property.

Just curious if they all operated the same way.

Yeah no dramas, I just suggested Coinbase as it’s a super friendly way to learn about different blockchains with short videos and quizzes.

Ah OK. Thanks for the tip.

 

[Cultured_Bogan]

Apart from deep web sites that allowed you to take out hits and buy drugs, where can you actually spend crypto? Or is just a tool to cash out on?

There are lots of uses for blockchain technology. Bitcoin was the first so you hear about it the most, but essentially it's used as digital gold (hedge against inflation and store of value) and doesn't really have a huge amount of uses.

If you look at something like Ethereum on the other hand, it's used for everything from decentralised finance (Visa/Mastercard and a number of large banks are investing in their blockchain capability because transacting via blockchain smart contracts are secure and efficient) to nft's (digital art etc). Opensea, which is marketplace for trading nft's on the Ethereum blockchain, is transacting around US$300m of transactions per day.

Moving forward blockchain can be used for medical records, education, everything.

I personally don't view holding crypto coins as a way to transact, I view it more as an investment in the platform, almost like investing in a stock.

Does the other crypto's behave like Bitcoin through mining?

Grab the Coinbase app mate and do the learn and earns. It will teach you a bit about some of the use cases and give you a like $50-100 in cryptocurrencies. The information you’ll learn about the monetary system alone is worth the research.

Oh I won't be investing it. Just about to move my super over to a SMSF in property.

Just curious if they all operated the same way.

I run my SMSF for 20 years, I would suggest you to use only money that you can afford to lose to invest into "risky/high geard" instruments - CFDs, Bitcoins, Option and Futures. And never chase your losses!
The majority may be invested in the property (direct or indirect), "safe"/non aggressive funds, "non aggressive" direct shares and cash.

Yeah I do not know anything about the stock market or crypto. Going into property for safety and better than industry fund returns.