Cryptocurrencies

Yes, them too....and thanks to the update; it seems to fit better with the present cryptocurrency discussion.
 
I respect the boy for holding (HODLing).
Why not?
Everything points towards them or something like them but perhaps with better tech & a bit more lightweight & speedy : Litecoin/Dash/ Verge being the money of the future - & not too distant future too.
So why not buy in & hang on? What's to gain by sitting back & waiting. then buying in & when prices are at ATHs?

Thing is there is so much focus on BTC, but there are hundreds of companies and coins out there. Look into some white papers, use a dictionary for some of the terms (I had to ) & see what new business is up for investment in the early stages.
As an example I like : SALT it is my inner-old-person- nerd's fave, because it is a lending platform that will offer up loans against the digital assets.
I bought 3 coins/tokens for a less than tenner & I tripled my "investment" on it, & the price is still pretty low to buy into.


I like CCs because they are levelling the playing field a bit- the man in the street can go out & stick as much as he wishes into a CC & sit back and watch his cash grow (or disappear, if he isn't smart about where he puts it) & it has made some smart young new rich people.

I am pretty much anti-establishment so I like the idea that maybe all the old fat parasitic peers of the UK establishment could possibly be sat on a pile of worthless ££ (but they probably bought into CCs) whilst the youth sticks up a middle finger.
Imagine if the world was run by all the kids??? the horror!! [sarcasm- they will be running it & they like these digital thingies]

& let's not forget Japan- pretty much respected around the world for all things technical & financial... they do seem quite on board with the CCs

& then let's look at the USA... eep, I just got blinded by Orange glare (why haven't you Americans impeached the sexist, bigoted abuser yet???)



The whole pre Xmas flurry was silly & my pot of CCs jumped £80 in a day. Then it took a dive as the market adjusted. Now it is creeping up again at a more sedate pace of a few £ a day.
So for all those who bought in at BTCs ATH, and then sat back watching it dive- relax, in fact buy in again while its cheaper if you have spare cash. Most people who know about these things see it soaring a long way yet.
 
Here's some info that might help people put what some of these coins do into perspective.
I bought into Funfair a while back when it was only pennies... it is still only pennies to buy but a fair few more than it was - today it has seen a rise of about 60% in the USD pairings

just now each Funfair token is selling at about $0.15 so it isn't going to break the bank to buy in.
Video link to see what Funfair is all about:

& a link to their website.
https://funfair.io/

I like this coin as I can see the potential.

& just to establish, I am not being paid anything, nor am I pushing it.
Just trying to help those who have an interest gain further understanding. ... me included.
 
Last edited:
Bad_azz said:
I respect the boy for holding (HODLing).
Why not?
Everything points towards them or something like them but perhaps with better tech & a bit more lightweight & speedy : Litecoin/Dash/ Verge being the money of the future - & not too distant future too.
So why not buy in & hang on? What's to gain by sitting back & waiting. then buying in & when prices are at ATHs?

Thing is there is so much focus on BTC, but there are hundreds of companies and coins out there. Look into some white papers, use a dictionary for some of the terms (I had to ) & see what new business is up for investment in the early stages.
As an example I like : SALT it is my inner-old-person- nerd's fave, because it is a lending platform that will offer up loans against the digital assets.
I bought 3 coins/tokens for a less than tenner & I tripled my "investment" on it, & the price is still pretty low to buy into.


I like CCs because they are levelling the playing field a bit- the man in the street can go out & stick as much as he wishes into a CC & sit back and watch his cash grow (or disappear, if he isn't smart about where he puts it) & it has made some smart young new rich people.

I am pretty much anti-establishment so I like the idea that maybe all the old fat parasitic peers of the UK establishment could possibly be sat on a pile of worthless ££ (but they probably bought into CCs) whilst the youth sticks up a middle finger.
Imagine if the world was run by all the kids??? the horror!! [sarcasm- they will be running it & they like these digital thingies]

& let's not forget Japan- pretty much respected around the world for all things technical & financial... they do seem quite on board with the CCs

& then let's look at the USA... eep, I just got blinded by Orange glare (why haven't you Americans impeached the sexist, bigoted abuser yet???)



The whole pre Xmas flurry was silly & my pot of CCs jumped £80 in a day. Then it took a dive as the market adjusted. Now it is creeping up again at a more sedate pace of a few £ a day.
So for all those who bought in at BTCs ATH, and then sat back watching it dive- relax, in fact buy in again while its cheaper if you have spare cash. Most people who know about these things see it soaring a long way yet.
Click to expand...

More of a Warren Buffet man myself :smile:

Just to keep you amused, here is the NYSE Bitcoin Index - watch out for the whiplash:

https://www.nyse.com/quote/index/NYXBT
 
A pretty longish video, but worth watching. John McAfee's take on things. I have to agree with a lot of what he says, & if it really is going to be 5 years & fiat currencies will be obsolete, then it won't hurt anyone to do their best to try and learn at least the basics about what will be the replacement.

 
lol, I thought I had embeded the video & posted a link- seems I have doubled up. hey ho, won't hurt to watch twice & take notes.
 
I think he makes some pretty valid points , looks a lot wired- so not going to argue with your toxic verdict- but i'd be inclined to see what toxins are in his blood. He's so jittery to watch.
 
McAfee has a long history of shady dealings and crackpot ventures, coupled with credible suspicions of serious criminal activity. There are, I would hope, more believable, knowledgeable and transparent persons, who can serve as public faces of the Cryptocurrency frenzy.
 
For what it's worth, it appears that Bank Indonesia and The National Police are going to do what they can to stop cryptocurrency transactions in Bali. I didn't realize that Bank Indonesia had a ban.

http://www.thejakartapost.com/news/...ice-prevent-bitcoin-transactions-in-bali.html

I'm not even sure that's a blip on the CC radar screen, but for those who live in Indonesia it may be something to consider.

The more interesting news is probably South Korea's stance on CC's. The following link is an opinion based article from Seeking Alpha, but nicely summarizes what I anticipated governments would start doing. Namely, regulatory actions that either control or prevent cryptocurrencies from payment processing. This would force CCs to be just a speculative investment entity, without the ability to transact for any goods and services. Of course the shadowy things going on in the TOR networks will continue, but the idea of mainstream citizens of the world being able to buy things in the open will either be hampered or be illegal (as in the case of Indonesia). It's my opinion that governments - especially Western nations, may tolerate CCs, as long as they can force taxation once an investor needs to convert to dollars, pounds, or Euros.

https://seekingalpha.com/article/4137483-south-koreas-proposed-ban-worry-crypto-investors-worldwide
 
I know it's a recent article, but I did also read that SK is not going to ban CCs this past week. So not sure the author is quite up to date.
& considering that CCs are decentralised govts trying to ban them is par for the course. I doubt anyone in the CC world really cares too much about such things. Cos there's not really all that much govts can do to police these bans.


* I have been exceptionally busy, so I haven't had much time at all to check out SKs stance. It is possible that the statement I read re SK got it wrong.

If I get chance I will have a look.

As for RI, well let them get on with it. A blip in the long term scheme of things. I imagine when the big players in the world end up using digital currencies & the IDR can't buy anything that Bank of Indonesia will update its stance.
 
Last edited:
Bad_azz said:
I know it's a recent article, but I did also read that SK is not going to ban CCs this past week. So not sure the author is quite up to date.
& considering that CCs are decentralised govts trying to ban them is par for the course. I doubt anyone in the CC world really cares too much about such things. Cos there's not really all that much govts can do to police these bans.


* I have been exceptionally busy, so I haven't had much time at all to check out SKs stance. It is possible that the statement I read re SK got it wrong.

If I get chance I will have a look.

As for RI, well let them get on with it. A blip in the long term scheme of things. I imagine when the big players in the world end up using digital currencies & the IDR can't buy anything that Bank of Indonesia will update its stance.
Click to expand...

This issue in South Korea appears to be a political one. I'll be the first to claim ignorance as to how their politicians go about getting elected and proposing new laws. That said, I'm learning that government politicians feel they'll be held accountable, if nothing was done and large losses hit their constituents. It seems there's now another side to the equation, possibly in the form of political (voting) backlash if they proceed with the new law. Apparently a petition is going around that got over 120,000 signatures in protest of the cryptocurrency halt. Here's another article (this one pretty recent) from Reuters detailing the "uproar":

https://www.reuters.com/article/us-...ocurrencies-divides-south-korea-idUSKBN1F10YG
 
Yes chiron. SK seems to be a bit wobbly from the bits I have read.
 
Chiron said:
For what it's worth, it appears that Bank Indonesia and The National Police are going to do what they can to stop cryptocurrency transactions in Bali. I didn't realize that Bank Indonesia had a ban.

http://www.thejakartapost.com/news/...ice-prevent-bitcoin-transactions-in-bali.html
Click to expand...

To be fair, in Bali there were shops in Legian and Seminyak advertising that they accept Bitcoin as payment. This is against the BI rule that states all transactions within Indonesia have to be in Rp.

However that is not the same as buying, selling or owning Bitcoin. That is legal as far as I know. Now my prediction is that eventually the gov't will ban Bitcoin altogether, and they will be just as effective at it as banning internet porn.
 
I am away from home & busy busy busy, not got access to my wallet, & not had time to look at the markets or anything.
Personally, I don't intend to bail. I have an experiment going on & I am going to stick with it & see where it all goes, a bad day in cc markets is nothing really, and they can stand a few bad days & still rally.
I don't have much in BTC at all anyway.
 
Re the video, what he is saying is don't try day trading if you don't know what you are doing. Perfectly sensible & logical to me.
What he says re the slide is also perfectly logical to me.
People saw the hype & wanted to jump in, it pushed the prices up like crazy as we saw in early December.
It was jumping around 1000 dollars a day, which is pretty crazy trading for any commodity/coin.
Now it is readjusting to "normal" parameters of trading & doing what it has frequently done- hitting a dip.
The post 10,000 dollars leap was pretty exhilarating & pretty ridiculous. It will average out & climb again. There are lots of investors who believe in the product.
It took 8 years or so, for it to hit 10,000$ & then say 10 days to hit 20,000... there had to come a time for it to balance out, it pretty much wore out the exchanges with activity that was unprecedented.
As for investing, as with any investment, don't put in what you cannot afford to lose.
 
You must log in or register to reply here.

Users who viewed this discussion (Total:0)

Follow Us

Latest Expat Indo Articles

Latest Tweets by Expat Indo

Latest Activity

New posts Latest threads

Online Now

Total: 451 (members: 2, guests: 449)

Newest Members

Moderation Team

  1. atlantis

    atlantis

  2. D

    dafluff

  3. El_Goretto

    El_Goretto

  4. J

    john madden

  5. ponyexpress

    ponyexpress

  6. Puspawarna

    Puspawarna

Share this page

Forum Statistics

Threads
6,693
Messages
113,164
Members
3,995
Latest member
amarmahato33
Back
Top Bottom