Most of us prefer cash. My point is it’s fast becoming obsolete whether you prefer it or not.I suspect there will always be people like me that prefer the option of having the ability to take out a set amount of cash which I find is easier to monitor than using a card. Of my last 15 purchases I think that only one was made on my card. This hardly tells me that cash is dead.
I forgive you because I actually don’t think you completely understand the concept of this, the concept of decentralised banking systems.When the bubbly pops there are going to be a lot of people with egg on their face and many with very empty pockets.
True, the banks rip us off at every turn, however, if you want your "real" cash back there is usually no problems getting it immediately.I forgive you because I actually don’t think you completely understand the concept of this, the concept of decentralised banking systems.
It’s funny how banks hold your money and makes money from your money. Meanwhile when you spend your money through merchants the banks are still making money from your money through merchant fees and interchange cost via card schemes like Visa and MasterCard.
Read my earlier post in this thread about a mate that had 60 Bitcoin bought it for $10,000 sold it for $60000 but today it would be worth $3,741,176.73I initially thought no way it was too risky and it would be shut down by most governments. Obviously that hasn't happened so if you got in early then well done.
As someone said the horse has already bolted, particularly with Bitcoin. A mate got in about 3 years ago with another cryptocurrency. He doesn't talk about money but has plenty of it (from elsewhere), but quickly went quiet about that particular investment, so I suspect he might have done well with it.
My big concern now if I had Bitcoin woukd be protecting it from Hackers etc,even if Blockchain etc has made it safer to store or transact.
When Bitcoin first got big I saw a different crazy opportunity via a UK newspaper article. It only cost me about $40AUD for 2 land parcels at the time. Essentially I bought I think it was 400 square kms of land on Mars. It was organised by a professor or doctor I think, who researched international treaties, space treaties etc and hired lawyers to set up a scheme. It was done essentially to get treaties updated and to protect Mars from countries colonising and trying to mine it. If you're going to get your own Bitcoin at the start then you have to look way outside the box LOL.
Finally on the subject of Bitcoin, spare a thought for these guys.
No. 1 lost 7,500 Bitcoin currently worth $481,829,925AUD
A computer geek who threw away a hard drive containing $381 million in bitcoin has offered his local council a $95 million reward to find it.www.news.com.au
No. 2 lost 10,000 currently worth $ 642,439,900 AUD (skim through this one it's long)
No. 3 The worst, I remembered reading a few years back about a UK uni student who bought a heap of Bitcoin as an experiment to do a uni project at the very beginning of Bitcoin. He spent about 30GBP when the pound I think was around double the USD and I recall the article saying that Bitcoin then was worth about 0.001USD. He accidentally threw out the USB stick containing them and subsequently searched his local rubbish tip for days, some time after, but never found the USB stick. I estimate it would have been 60,000 Bitcoin worth ... wait for it .... $3,854,639,400 AUD
You can sell btc easily on many different sites that will exchange it for a bank transfer of audThe problem I see with cryptocurrency is I have seen the bitcoin "ATM" at shopping centres, they have a slot to put your money in but nothing to take it out again...
Call me old fashioned but as far as I can see, what's the point of being a bitcoin millionaire if you cant turn it into real coin.
But what do I know, I invest my hard-earned $$ into blue-chip shares and property...