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Kennel's thoughts on KryptoKurrency

tonee

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Do you still have your two mined ones bro? What’s that $132,000? That would come in handy for anyone..
I don’t want to tell you what I did with them :(

but I’m still on this train ride and haven’t left put it that way :grinning:
 

Headmix

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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.
Most of us prefer cash. My point is it’s fast becoming obsolete whether you prefer it or not.
 

Grunthos

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Umm why would a bank back a crypto currency? That’s the whole point of crypto it’s decentralised currency built off block chain, banks are upset because they can’t make money off it.
Problem is, you buy it with real money...
 

Jabba the Mutt

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Yesterday I noticed 'Dogecoin' (an 'altcoin') trending on twitter with people attempting to pump its value to $1 per coin (it's currently trading at ~.07c).

Recently Elon Musk has been hyping it as 'the peoples coin' so it will be interesting to see what happens to 'doge' which was essentially created as a joke.

C19 has also produced an environment where some travel stocks look interesting.
'Flight Centre' was trading at ~$60 per share at its peak, settling at ~$40, and yesterday was at ~$14. It appears to have the funds to ride out C19 but who knows.
 

Grunthos

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and real money is just paper, What’s the difference?

You didn’t really answer my question either.
When the bubbly pops there are going to be a lot of people with egg on their face and many with very empty pockets.
 

Velk

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When the bubbly pops there are going to be a lot of people with egg on their face and many with very empty pockets.
Its been a "bubble" since it was like $500 and some people are smart enough to take out initial investments and some profits along the way
 

tonee

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When the bubbly pops there are going to be a lot of people with egg on their face and many with very empty pockets.
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.
 

Como Dog

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I 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

No. 2 lost 10,000 currently worth $ 642,439,900 AUD (skim through this one it's long)
https://www.reddit.com/r/Bitcoin/comments/baw9jk
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
 
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Grunthos

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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.
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.
 

N4TE

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I 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

No. 2 lost 10,000 currently worth $ 642,439,900 AUD (skim through this one it's long)
https://www.reddit.com/r/Bitcoin/comments/baw9jk
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
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 $3,741,176.73
 

Natboy

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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 was skeptical about people buying my Bitcoin when the price is high but they do every time in about 5 minutes
 

Grunthos

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The 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...
 

Velk

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The 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...
You can sell btc easily on many different sites that will exchange it for a bank transfer of aud
 
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