crypto currency

[disneysteve]

I thought BTC was over $100k recently. Or did that go down the toilet too?

It hit 105K in late January before starting to fall again. Looks like it's mostly been around 85K the past month except for a brief drop to 75K.

Highly speculative things tend to also be highly volatile.

[ua_guy]

I thought BTC was over $100k recently. Or did that go down the toilet too?

[QuarterMillionMan]

Transferring cryptos are very cheap. Take this transfer from Robinhood to Arculus which cost me .26 cents. Buying cryptos is a whole different story. Take Coinbase for instance which has a 1% to 3% fee but it's not just the fee it's also the spread on the buy & sell where today BTC is $85,000. If you buy from Coinbase they'll sell it to you for $86,000 plus the fees. I'm convinced that the banks are already laying the foundation (behind the scenes) to transact in cryptos to save on the transaction fees and once they are ready they'll flip the switch and the train will have left the station.

[QuarterMillionMan]

My next cold storage wallet will be Arculus for $99, an American made product, I believe in New Jersey. Ledger is made in France. Trezor is from Czech Republic. Not sure if any of this matters. In Robinhood I have $12,000 in bitcoin which I intend to transfer on to my Arculus should I buy it.

[QuarterMillionMan]

Have more cryptos to transfer over.

[QuarterMillionMan]

Slowly transferring my cryptos from Coinbase to Trezor. Following the advice from the masses, "not your keys, not your cryptos."

[ua_guy]

It's all a scam. The same way with art. It's a way to wash money. Does anyone with a brain really think a Jackson Pollock is worth $50 million? Have you seen this type of art? It looks like a child made it. Just splash paint around. There is absolutely no rhyme or reason to it. No complex hidden code within the drips of spatter. But, if you need a way to report money, strike a deal with another associate and all the sudden you have $50 million on the books.

It appears some of the bigger crypto has gone this route. Not the hawk tuah girl coin, but the big players. I'm not hating on organized crime. It's smart business.

Yep. One of the biggest beneficiaries and proponents of crypto are the underground markets which need new ways to launder money. Not that crypto can't be a legit currency, it's that it provides the kind of protection that criminals need in order to transact. It's much harder to do that with traditional banks and/or paper currencies.

[EasyMoney00]

I don't get how you value something that no one knows how to value

It's all a scam. The same way with art. It's a way to wash money. Does anyone with a brain really think a Jackson Pollock is worth $50 million? Have you seen this type of art? It looks like a child made it. Just splash paint around. There is absolutely no rhyme or reason to it. No complex hidden code within the drips of spatter. But, if you need a way to report money, strike a deal with another associate and all the sudden you have $50 million on the books.

It appears some of the bigger crypto has gone this route. Not the hawk tuah girl coin, but the big players. I'm not hating on organized crime. It's smart business.

[LivingAlmostLarge]

I don't get how you value something that no one knows how to value

[ua_guy]

Money is constantly changing with the oldest money being sea shells or cowrie money
People tend to have feeble minds like a mule with blinders and can only see the small picture. I refuse to be that stubborn old fart when in 2035 my 10 yr old grand kid says to me when BTC is $1 million and 99% of all BTC is mined, "grandpa was BTC really $78,000 when I was born?"

I think it's one thing to be ignorant of crypto. In terms of useful, or useless, with regards to knowing about crypto, I think it's more useful to know about crypto.

It's a whole different thing to know/understand crypto, but still prefer the dollar and its various forms (paper, coin, EFT). I prefer the dollar because that's how the majority of the world still transacts and will continue to do so.

[QuarterMillionMan]

Hard to make a blind man see cryptos coming when all he knows is paper money in perpetuity.

[QuarterMillionMan]

Money is constantly changing with the oldest money being sea shells or cowrie money

• Barter System: Initially, goods and services were exchanged directly without a standardized medium.
• Commodity Money: Items with intrinsic value, such as gold or silver, were used as a medium of exchange.
• Metallic Money: Coins made from precious metals became widely accepted for trade.
• Paper Money: Introduced as a more convenient form of currency, representing a claim on a commodity.
• Credit Money: Banknotes and checks allowed for transactions without physical cash.
• Plastic Money: Credit and debit cards emerged, facilitating electronic transactions.
• Digital Currency: The latest evolution includes cryptocurrencies and digital wallets, transforming how we conduct transactions today.
• This progression reflects the changing needs of societies and advancements in technology.

People tend to have feeble minds like a mule with blinders and can only see the small picture. I refuse to be that stubborn old fart when in 2035 my 10 yr old grand kid says to me when BTC is $1 million and 99% of all BTC is mined, "grandpa was BTC really $78,000 when I was born?"

[EasyMoney00]

Crypto is for gambling addicts.

[QuarterMillionMan]

I was to get $1000 worth of cryptos at $76,000 before it jumped to $83,000 today.

[QuarterMillionMan]

Trezor set up and active. Best to start w/small amounts as practice or test amounts. Once I lost $150 which I considered small but just glad it wasn't $1500 or more.