Discussion in 'Bulletin Board' started by Ianharifax, May 2, 2021.
What’s everyone’s thoughts on crypto currency
No underlying asset value. Hugely risky if you're the one holding the baby when it all crashes in!
I don’t understand what it is. I don’t really get how it’s mined. And I’m not sure what drives the value up and down.
I made £500 on doge coin a couple of weeks ago though and have some Ethereum and Bitcoin. The former doing really well. It could all crash at any point though.
I have ethereum too it’s doing really well too
Seems a niche market and niche markets tend to end one way...
I found this article on the adventurous investor blog a good insight into bitcoin specifically. Link
The ownership and ESG factors are truly bonkers.
For virgins and nonces
Bet you’re loaded then
Asset value is coming though. Doge coin in particular is now used as a currency with a handful of companies and more lined up to get on board with it.
Marc Cuban, owner of the Dallas Mavericks and a ‘Shark’ on Shark Tank (think Dragon’s Den but actually fun and enjoyable to watch) has sold lots of Mavs merch through crypto.
Massively risky. Could make a fortune or lose the lot. Most people have no idea about the economics of it. I’ve made a few quid, but the market crashed a few weeks ago and my holdings are currently about 40% down. My best advice on crypto would be if you can’t afford to lose your money, stay away.
Numbers on a screen that you buy with real money. No different in principle to buying credits on an online game for example. The only difference is that enough people recognise them as being of value, therefore they are of value and can be traded for real money. One day somebody will decide that they will soon be worth less and sell loads which will become a self-fulfilling prophesy. In fact it's very much like real money for those that remember Black Wednesday in 1992......
Fair play, I giggled
I genuinely don't understand it. Why does it have to be mined? Surely it either exists or doesn't?
I'm sticking with tulips. What could possibly go wrong...
Something as simple as currency shouldn't be complicated.
I can see that it can be accepted. But how does it tie to any underlying asset which preserves it's value? If it ceases to be accepted, then doesn't it become worthless?
Hugely risky and very bad for the planet. Avoid.
https://www.sierraclub.org/pennsylv...gatons of,China, where electricity is cheaper.
Just read an article on mining crypto currency. The noises the washing machine makes on the spin cycle makes more sense.
Same here. It doesn't physically exist, right? Is it an April fool or something?
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