Cryptocurrency and the Future

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Cryptocurrency and the Future

Post by Liberalis »

Most of us have heard about Cryptocurrency, especially Bitcoin but now may be the time for many to start paying closer attention to this form of digital currency.

All global fiat currencies, especially the U.S. dollar and the Great British pound will begin to tumble before too long. Many economies are currently printing trillions of $/£/€ worth of money and pumping this into economies which significantly reduce the value of Fiat currencies leading to massive inflation. This isn't a possibility, this is a fact. We can only wait to see just how bad it will be but it will not be pretty.

Any money sitting in banks will soon lose much of it's value. Trading cryptocurrency is a risk, but the worst gamble now is keeping money tied up in the banking system. Purchasing precious metals like gold and silver is a good idea also as they will retain some value but many have had the same plan and stocks are low now with many brokers charging a premium.

This is where Cryptocurrency might be an option.....

Cryptocurrency is a decentralized form of digital currency which is based on a technology called blockchain's, a blockchain is similar to a database which stores every transaction relating to that particular coin or token. These blockchain's are transparent and available for anyone to view. The decentralized nature of Crypto is that the bankers are cut out of the equation and there is the ability for P2P transactions, a simple trade between 2 people. Transactions that are not monitored or taxed by the corrupt banking institutions who, nearly always, cause the financial problems to begin with and are bailed out with our money, so we get shafted twice. Crypto could be a way of breaking free from this cycle.

Cryptocurrency markets are volatile and they are not a get rich quick scheme, unless you are lucky, but moving forward, they may be something more of us need to at least look into and anything that can remove power from the banking institutions can only be a good thing.

Centralized exchanges are not in the spirit of Cryptocurrency and have removed the anonymous nature of the system by allowing financial cartels to impose identification procedures known as KYC (know your customer) and AML (anti-money laundering). This attempt of financial institutions to try and bully there way into crypto should not be tolerated and i strongly recommend using trusted P2P crypto sites such as https://localcryptos.com and https://cryptolocally.com. This is the spirit of cryptocurrency where exchanges of cash for crypto (or one type of crypto coin for another) is facilitated in a decentralized and fair manner.

Cryptocurrency is not something to rush into, it involves risk and can be overwhelming at first to get your head around all the technology and jargon but looking to the future, this may be one way that we can rebuild a future that puts us as individuals at the centre of things and not the banks and governments.
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Re: Cryptocurrency and the Future

Post by Liberalis »

That is a really good point, precious metals are definitely the better option if you can get your hands on some.

I am taking a punt on a few cryptocurrencies as a gamble long term but yep, i can't fault your logic RobbieG.
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Re: Cryptocurrency and the Future

Post by Opinionator »

I have mixed feelings about crypto's since the beginning of them.

On the one hand it is good to have something that is "unfuckablewith" and cannot be manipulated like the regular currencies. Although the question remains how "unfuckablewith" the crypto's are. I mean, you can aquire most with "normal" currencies which means that those with a lot of normal money can aquire a lot of digital currency too.

On the other hand it does not matter what shape you give money, it remains a fictional value representing nothing really else then the idea of worth.

I don't think money is evil, it is just a tool used for evil. It can be very practical. But it is not required to live in a society.

What makes money a requirment is the fact that our world is currently based on competition. In a world based on cooperation instead of competition there is no need for it, regardless of it being physical or digital.

The value of precious metals is equally perceptual, since they really have no use for humans other than to posess it and marvel at their beauty. You can't eat gold...

Okay, you can, but it is not a normal part of human diet ;)



If you look at it, the only thing in our life that really has value is our time, since we appear to only have a limited amount of that...
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Re: Cryptocurrency and the Future

Post by Liberalis »

Spot on! Something only has worth if someone believes it has worth. I would happily do away with money if i could but modern society has been geared up for it to be integral in our lives.

Establishing local bartering systems is a good approach for food etc but it is the mass manufactured goods, cars, mobile phones, solar panels etc that makes it hard to avoid. We can give all that up for a more simple life but most people are too invested in this system.

I don't know how many conversations i have had about this where the person says....."but you need money" and i reply by saying "you NEED food, water, clothing, shelter and love, everything else is optional so you want it, not need it". It is always met with ignorance but hey, that's my truth.
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Re: Cryptocurrency and the Future

Post by Opinionator »

I know it is a very idealistic perception, but technically we would not even need bartering.

If we would live as "one people" on earth and acknowledge that none of us actually "owns" anything the planet provides us to live, there is no need for a currency or exchange medium.

In an effort to keep it as short and simple as I can: look at the cells in our body. Each and every one gets what they need to do well - if we don't interfere with it that is. All recources belong to no one and everyone, and there is no wealth until every cell has what it needs. "Development" does not cost anything, because no one has to pay for anything. If recources are needed to develop - say - an immune response to a certain infliction, those recources are provided. All the while, the cells are NOT equal, but equally important because of their specific function in the whole.

Of course this is not something we could have running in the world by tomorrow, but imagine how the world would look if we could get it to that kind of cooperation. Progress would not be hindered by financial interests and availability of money, but it would soar. Mankind would reach hights never thought possible...

But in the meantime cryptos can be used as a tool, although as mentioned by others; if the lights go out, the doe is gone....
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Re: Cryptocurrency and the Future

Post by wrong_think »

I'm allready 'all in' financially on Bitcoin and Crypto, as Ii think it's truly revolutionary in nature and completely undervalued still, and it would help me personally to have more wealth (which brings freedom and time) however...

> I think there is a decent chance it was created by or at least suits the current control structure (I'm skeptical some random anon invented this... it's too clever)

> No form of economic system is going to lead to true freedom/truth/enlightenment.... it takes moral virtues of a society and not a desire for more material things. But it might be better than others and might help stifle how much the parasites can steal...

Anyway, I still recommend everyone own some BTC, it's irresponsible not to IMO.
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Re: Cryptocurrency and the Future

Post by Liberalis »

I have got 3 different crypto's at the moment, diversify baby! I have been buying some with cash that i would normally buy useless shit with anyway so my philosophy with crypto is....as soon as i have bought the crypto, i write the money off so have nothing to lose from then on (twisted logic? :? ). Don't risk what you cannot afford to lose is the classic crypto advice.

I don't play cards, slot machines or any other form of gambling but for me, it is worth chucking a few quid/dollars/yen into crypto and seeing what happens.

It will be interesting to see how the bitcoin halving will affect things wrong_think.
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Re: Cryptocurrency and the Future

Post by cryptocastio »

Liberalis wrote: Mon May 11, 2020 12:08 pm
Centralized exchanges are not in the spirit of Cryptocurrency and have removed the anonymous nature of the system by allowing financial cartels to impose identification procedures known as KYC (know your customer) and AML (anti-money laundering). This attempt of financial institutions to try and bully there way into crypto should not be tolerated and i strongly recommend using trusted P2P crypto sites such as https://localcryptos.com and https://cryptolocally.com. This is the spirit of cryptocurrency where exchanges of cash for crypto (or one type of crypto coin for another) is facilitated in a decentralized and fair manner.


Check out BTCPay Server at https://btcpayserver.org/

This is a real game changer because it eliminates the need for these centralized exchanges trying to hijack the crypto space.

Some of the benefits of BTCPay Server are being able to transact directly with each other in many different cryptos without middlemen interfering. It is like having your own private exchange with alot of other tools baked in like a crowdfunding feature & also being able to set up POS systems for physical businesses.

If we start using BTCPay Server combined with alot of other technologies available to us & we fully understand it, our collective anxiety over fiat financial systems &/or stock markets crashing & even bailouts & banks failing would vanish overnight.

It's not an exaggeration to say that if one chose to employ BTCPay Server with all its bells & whistles, there would be no need to stay home or hang around waiting for things to get back to "normal" or hear what any of these powers that wannabe have to say about anything resuming, re-opening or closing back down.

We could quite easily create an infinite variety of better & more efficient sustainable alternative economies at the drop of a hat.

Imagine stepping into a new reality where there's truly nothing from even the pre-lockdown world we used to know worth going back to because we found something that makes even the very best it had to offer completely obsolete.

It's worth a serious look!



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Re: Cryptocurrency and the Future

Post by Sperg »

I know I'm a new member here and don't overstay my welcome, but is there any chance we could get a Cryptocurrency subform?
That would be cool.

We need a unified resistance against calls to crash the markets from the Bogdanoff Brothers and Bobo The Bear.


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Re: Cryptocurrency and the Future

Post by Sperg »

Liberalis wrote: Wed May 13, 2020 6:57 pm It will be interesting to see how the bitcoin halving will affect things wrong_think.
I've been in crypto since Bitcoin was $4 in 2011. I lost a lot of my money due to a theft (chargeback scam) so I'm not rich, but I'd be worth over $10 million today. I also lost a ton in the BTC-e collapse. I've made every mistake you could think so I'm well rounded on the markets.

I think we have maybe 1-3 months before the bull run starts. We'll likely go sideways with a little up/down swings between then.
$10.5K is a huge resistance barrier to the upside. If we can get through that we will see the true bull market start, otherwise we'll continue going sideways.

Likely 20K by the end of the year conservatively, but possibly higher.

Someone on /biz/ posted this, and I took a screenshot. Just a possible scenario:
Image

This is a more conservative view, but it's possible we could see Bitcoin hit $1 million in 10-15 years if something doesn't flip its market dominance.
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The market cap right now is under $200 billion. The market cap of Gold is around $9 trilllion and less than 1% of people hold it. It's very likely we get to $1 trillion market cap in 1-2 years and then go up from there towards 10 trillion, which would be a half a million BTC price. I'm a sperg for a reason so.

I think it's very likely we could see a flippening of Ethereum swapping out Bitcoin if ETH 2.0 does well too. If ETH 2.0 fails get ready to jump to Tezos and/or Cardano, and/or possibly EOS.
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