2taol
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Oct 21, 2020 19:57:05 GMT 1
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Post by 2taol on Oct 21, 2020 19:57:05 GMT 1
any Bitcoiners on the forum?
no doubt there are "a lot" of skeptics....
I ask because today Paypal announced they are going to allow the buying and selling of Crypto through their platform.
and also because this and next year are going to be massive for Bitcoin and crypto.
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Oct 21, 2020 21:54:32 GMT 1
Post by donkeychomp on Oct 21, 2020 21:54:32 GMT 1
What's wrong with cash?
Alex
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2taol
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Oct 21, 2020 22:33:42 GMT 1
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Post by 2taol on Oct 21, 2020 22:33:42 GMT 1
nothing, anyone who likes a degree of anonymity loves cash. Its FIAT or legal tender, controlled by governments and losing value through quantitive easing
Im trying to pique peoples interest in bitcoin, there is a potential investment opportunity starting now!
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Deleted
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Post by Deleted on Oct 22, 2020 11:11:00 GMT 1
2Taol
Just be careful of giving advice on the financial side, you could run foul of the financial regulators if you’re not licensed to give financial advice
Interestingly today I received 3 spam emails today about bitcoin, one apparently with Elon Musk’s approval all with links no doubt to fleece money from me
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Oct 22, 2020 12:04:09 GMT 1
Post by steve h on Oct 22, 2020 12:04:09 GMT 1
nothing, anyone who likes a degree of anonymity loves cash. Its FIAT or legal tender, controlled by governments and losing value through quantitive easing Im trying to pique peoples interest in bitcoin, there is a potential investment opportunity starting now! Buy all your cryptocurrency under a false identity... great anonymity, must be a boon for money laundering. You could loose it all though..... Quadriger.
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2taol
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Posts: 378
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Oct 22, 2020 12:32:54 GMT 1
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Post by 2taol on Oct 22, 2020 12:32:54 GMT 1
2Taol Just be careful of giving advice on the financial side, you could run foul of the financial regulators if you’re not licensed to give financial advice Interestingly today I received 3 spam emails today about bitcoin, one apparently with Elon Musk’s approval all with links no doubt to fleece money from me nope not looking to advise anyone, just thought there would be more people already using it ATM on the forum I have been into B since 2016. There are a lot of scammers out there (as with almost everything)
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Oct 22, 2020 12:38:47 GMT 1
Post by Deleted on Oct 22, 2020 12:38:47 GMT 1
As long as you are aware that’s all that matters
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Oct 22, 2020 21:37:13 GMT 1
hjw likes this
Post by donkeychomp on Oct 22, 2020 21:37:13 GMT 1
I don't see the reasoning behind it. If you have say £10k in the bank then that's yours and safe. If you have the same in Bitcoin what use is it? Can I buy my shopping at Tesco with it? And is it going to be safe?
Alex
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2taol
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Oct 23, 2020 14:51:27 GMT 1
Post by 2taol on Oct 23, 2020 14:51:27 GMT 1
Hi Alex,
[im not preaching below, just making a few points again to get people thinking and talking!!]
Well £10k in the bank is very nice indeed! Only thing is that its actually loosing value because of inflation and the fact that the deposit amount is really earning nothing in interest.
In extreme cases similar to what happened in Greece back in 2012 , people couldnt get access to their own money, the banks closed their doors and the ATM's were only releasing limited funds per day per person because there was a run on the banks, the banks dont actually have each persons funds on site at any given day.
Lets say you want to take that £10K out on Saturday evening at 7.30 to but a mint RD off a lad down the road because you want to use "cash" . . . sorry you dont have access to your own money. You have access on limited terms.
Bitcoin has many uses, its not physical money, its not designed that way, cash has its benefits but so too has Bitcoin.
For example it doesnt have borders, try leaving the country with £10K cash, you wont be able to. you will be stopped with even less than that in cash.
Coinbase which has a banking license offers credit cards, they are predominantly a Digital Currency Exchange. You could spend your Bitcoin via Credit Card if you wanted!
Security: The Bitcoin network has never been hacked, and hasnt even come close to being hacked. In a round about term the Bitcoin network is worth over $240 billion, there is a lot of funds involved there to be hacked and it hasnt happened and wont either.
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Oct 23, 2020 21:52:19 GMT 1
steve h likes this
Post by donkeychomp on Oct 23, 2020 21:52:19 GMT 1
I wish I did have £10k...but even with less I'll just stick to my debit card or cash I think.
Alex
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Oct 23, 2020 22:35:26 GMT 1
Post by steve h on Oct 23, 2020 22:35:26 GMT 1
I chap I once worked with used to buy scrap gold and stash it. He'd do the local auctions for jewellery and the like and pay scrap value. No investment to collapse and he actually had it IN his hand. Well we were sceptical..... he wasn't!!! Clever bloke. That was a real investment.
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Post by geoffers997 on Oct 24, 2020 17:45:33 GMT 1
Too many bit coin scammers out there to make me even think about it.
Traditional banking is a busted flush - no return there at all.
Gold is the only safe way to hold money these days (not that I’ve got any).
Personally my ‘investment’ is sat in the garage. He’s an early 31k called Herman and I love him way too much to sell him.
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2taol
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Oct 24, 2020 23:31:30 GMT 1
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Post by 2taol on Oct 24, 2020 23:31:30 GMT 1
yes we all have a 2 wheel investment of sorts! Correct, there are a lot of scammers in the crypto world and back in 2017 I was scammed myself! anybody new in crypto is wide open to being scammed but if everyone stuck to a very simple guideline all would be safe. interestingly Bitcoin has out performed every other investment opportunity including Gold for the last number of months. There are a number of high profile investment companies actively moving their "cash" reserves into Bitcoin as its offering more of a return than Cash....or Gold. Grayscale Investments and Fidelity are 2 which are very vocal in their Bitcoin investments and im sure there are many many more getting into Bitcoin but just not saying so. Just a note, Bitcoin was never created to be an investment commodity it has just morphed into this with more exchanges and trading happening now. If anyone is interested in "what" Bitcoin was created for they can read the Whitepaper here - whitepaper.io/coin/bitcoin(some of it is a bit technical, but interesting nonetheless)
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Post by steve h on Feb 1, 2023 13:52:08 GMT 1
Good advice from the Guru.
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Feb 1, 2023 19:58:46 GMT 1
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Post by headcoats on Feb 1, 2023 19:58:46 GMT 1
I'm sticking with premium bonds LOL
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Feb 3, 2023 15:33:06 GMT 1
Post by stirling11 on Feb 3, 2023 15:33:06 GMT 1
"anybody new in crypto is wide open to being scammed but if everyone stuck to a very simple guideline all would be safe"
And therein lies the issue, not everyone will stick to a very simple guideline and all wouldn't be safe
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Feb 3, 2023 17:05:53 GMT 1
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Post by tacky1 on Feb 3, 2023 17:05:53 GMT 1
Back in 21 we pulled out our LTC and almost paid for a house with it, Its definitely worth it if you are willing to sit on it and understand how it works, Its like all trading, There are ups and downs. I put back in 2k last year and it dipped badly, but now that 2k is up at 3.7k.. Its just play money, Ill sell it shortly and let the coin vales drop and then re-invest and sell when its high....
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Post by steve h on Feb 4, 2023 16:58:07 GMT 1
Thatcher would of loved the crypto "industry"...... all those yuppies and their greed.
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