Cryptocurrency?
#1
Cryptocurrency?
I haven't dabbled in cryptocurrency as yet and therefore have absolutely no knowledge or experience in this matter.

Does anyone here have experience with cryptocurrency and if so, what has your experience been?

Everyone seems to be buying into cryptocurrency, but is it easy to sell, so that you can therefore actually realise the profit that you think you've made?

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Irinikus
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12-13-2017, 02:59 PM
#2
Re: Cryptocurrency?
Played around a lot with it in both pool mining and purchasing/selling with it, from BTC and LTC when it was nigh worthless all the way to Dogecoin which will always be nigh worthless. As a brief example; I used Dogecoin for a wee bit of gambling and sold my Octane2 for BTC, also bought and sold giftcards, etc. Basically I got out immediately though after every BTC transaction as I am not a speculator, and trading it for meatspace goods was what I needed. The reason I used BTC was so that I didn't have to let Paypal or any other sanctioned middle man take a not insignificant portion of my profit for facilitating the transaction.

It isn't as easy to sell as you may wish, sure you can cash out if you are in a big exchange, but those carry so much risk and reporting requirements that I wouldn't bother and instead would go about selling them locally for cash. That carries its own risks, but bringing a friend and doing it in a public place mitigates most theft attempts. If your laws allow it, open carry on the hip is also recommended.
VPCII
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05-24-2018, 10:17 PM
#3
Re: Cryptocurrency?
The virtue of these crypto currencies is that they are basically the digital world trying to freeitself from the usury and debt slavery of the current international banking influence that’s been around since the 1800s.

The trouble is that it has the potential to fall apart at any moment due to the technology. Like the drop last year over the server crashes.

But, what keeps it in place is this uniform demand for an accepted currency that transcends the currency trade. PayPal and other situations somewhat mitigate this currency conversion between nations. This of course goes with taxation reporting etc.

What I’m unsure about is how well the current USA laws cover bitcoin and others for taxation purposes. The potential for the crypto cash to be seen as a tax dodging currency will definitely spark the interest of the state and the banking community that relies on localized currencies isn’t going to like seeing a loop hole currency that allows people to escape debt slavery.

You want a house, schooling, transportation, medicine/healthcare? Step right up. They are interest’ed.

I love capitalism but there is definitely something wrong in the way lives are allowed to be in a state of rent or debt perpetually.

Crypto currencies are a libertarian dream in that regard. They stay alive because no matter what one market or political nationality says about them, there seems to be another place that says “we’ll honor them and exchange them” as a kind of modern pirate code that aims to have a backup plan as virtue if/when the national currencies go through another collapse.

I’ve never mined. I think if I would have started back in the early days I’d be doing well. Today it seems like you’d need a dozen computers running gpus just get even a single bitcoin. Mind you a single bitcoin has priced as high as $1800 in the last year. But then you have to ask yourself if you spent more in hardware and power bills to get that single bitcoin.

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05-25-2018, 03:19 PM
#4
Re: Cryptocurrency?
http://groups.csail.mit.edu/mac/classes/...festo.html
VPCII
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05-25-2018, 04:22 PM


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