Crypto currency (IF banned from CA)

[Goat]

If you go for one of the smaller, new and virtually unheard of crypto then there is always a chance of it being a scam. The crypto that have been around for years and traded on reputable platforms is not.

There are always winners and losers when you buy stocks and shares, people will have probably lost a load on Debenhams/Northern Rock etc. etc. Don't see why you see it as a big deal tbh.

I honestly dont.

As you say, its just another form of stocks and shares, but there are people who actually think they are being all edgy cos its called something fancy like crypto coin or Dogecoin, its like they think they are some kind of Gordon Gekko Neo or something.

 

[DuuuncanHadaPigeon]

Yeah I said nobody but I was exaggerating to make a point.

This stuff about the amazingly slow banking system doesn't strike me as being a massive deal outside of the financial industry.

I deal with very high valued contracts at work and the industry I deal with regularly accepts contracts that with payment scheduled 30 days after services or goods are delivered.

I highly doubt anyone ia being paid in bitcoin. How do you agree an hourly rate or even a price for contract delivery in even the relatively short term when the value is so volatile?

I also deal with contracting in foreign currency and that can be a nightmare to work out even between two relatively stable currencies.

This is what I mean about bitcoin not really being a feasible currency. Even here you are talking about it as a tool for international exchange rather than it being used as traditional currency.

Nobody is taking or providing loans in bitcoin are they? How do you manage the long term risk of the volatility?

It is useless as a currency.

We are long past the point of bitcoin being used as a currency. Anyone who says bitcoin will be used as such is an idiot

 

[Zatara]

Yeah I said nobody but I was exaggerating to make a point.

This stuff about the amazingly slow banking system doesn't strike me as being a massive deal outside of the financial industry.

I deal with very high valued contracts at work and the industry I deal with regularly accepts contracts that with payment scheduled 30 days after services or goods are delivered.

I highly doubt anyone ia being paid in bitcoin. How do you agree an hourly rate or even a price for contract delivery in even the relatively short term when the value is so volatile?

I also deal with contracting in foreign currency and that can be a nightmare to work out even between two relatively stable currencies.

This is what I mean about bitcoin not really being a feasible currency. Even here you are talking about it as a tool for international exchange rather than it being used as traditional currency.

Nobody is taking or providing loans in bitcoin are they? How do you manage the long term risk of the volatility?

It is useless as a currency.

Again, im talking about crypto products. There seems to be some confusion about the difference with that and bitcoin.

You can doubt that "anyone is paid in bitcoin"...but they are. They are also paid in other coins...ive come across alot of companies in the space doing this..

Just on your 30 day payment...you know that if that example was used for say a Japanese company who agreed to pay a Norwegian entity upon receipt of Salmon...say every month then theres currency risk right?

Thats why theres alot of tech centred around corporate FX for hedging purposes.

If you hedge say USD/JPY in FX and in crypto then perhaps you could tell me what the difference is apart from a conversion?

 

[Zatara]

I honestly dont.

As you say, its just another form of stocks and shares, but there are people who actually think they are being all edgy cos its called something fancy like crypto coin or Dogecoin, its like they think they are some kind of Gordon Gekko Neo or something.

Its marketing...most of the crypto market is massively manipulated.

We are long past the point of bitcoin being used as a currency. Anyone who says bitcoin will be used as such is an idiot

Depends how you define currency use when talking about bitcoin.

I mean, i agree that there are different coins which are used as a 'peg' to a FIAT currency which are used (and certainly thats not bitcoin).

But there are people are choosing to be paid in bitcoin.

 

[JimmyJeffers]

Its marketing...most of the crypto market is massively manipulated.




Depends how you define currency use when talking about bitcoin.

I mean, i agree that there are different coins which are used as a 'peg' to a FIAT currency which are used (and certainly thats not bitcoin).

But there are people are choosing to be paid in bitcoin.

Yeah I have to agree with Zat here. Pegging is a common practice in his field of expertise. ‘Assets’ are regularly stripped and pegged by various traders. Often through different channels.
I’m sure Zat can attest, that it is not uncommon for a ‘pegger’ and a ‘pegee’ to be known entities. Often procured from the backstreets of Manila.

 

[The binman chronicles]

I honestly dont.

As you say, its just another form of stocks and shares, but there are people who actually think they are being all edgy cos its called something fancy like crypto coin or Dogecoin, its like they think they are some kind of Gordon Gekko Neo or something.

I think that has always been the way for people who deal with traditional stocks and I can see how easily that may put off people who don't.

To me it's just another hobby like golf or whatever, some will be interested, some will chat to pass the time and some will think you're a bloody idiot. I just wish people would be a bit more frandly, you can see how one side says it's all a scam and then the other side get defensive and it turns into a massive chore.

100% there is money to be made but 100% there is money to be lost. Not much difference than the sticking it on the 15.10 at Kempton. Buyer beware.

 

[Goat]

I think that has always been the way for people who deal with traditional stocks and I can see how easily that may put off people who don't.

To me it's just another hobby like golf or whatever, some will be interested, some will chat to pass the time and some will think you're a bloody idiot. I just wish people would be a bit more frandly, you can see how one side says it's all a scam and then the other side get defensive and it turns into a massive chore.

100% there is money to be made but 100% there is money to be lost. Not much difference than the sticking it on the 15.10 at Kempton. Buyer beware.

The problem is you have people like @Kev The Rat who chats weapons-grade wham and winds people up.

 

[Connor]

ah yes, noted mega weirdo Elon Musk is involved, all is right with it then

 

[Goat]

ah yes, noted mega weirdo Elon Musk is involved, all is right with it then

He made 1 tweet the other day and wiped billions off the Goth currency.

 

[roydo]

Can you buy one crypto with another one?

 

[Goat]

Can you buy one crypto with another one?

Yes.

 

[roydo]

Yes.

Like I can buy some $ from Tescos using a debit card?

 

[Goat]

Like I can buy some $ from Tescos using a debit card?

Yes, you can buy them anyway you can think of.

But not at Tesco.

You can even earn them by playing games.

 

[Connor]

He made 1 tweet the other day and wiped billions off the Goth currency.

Keep him away from my investment - CS stickers

 

[LinekersLegs]

View attachment 127977

This the same Michael Saylor?

Michael J. Saylor - Wikipedia

en.wikipedia.org

In March 2000, the U.S. Securities and Exchange Commission (SEC) brought charges against Saylor and two other MicroStrategy executives for the company's inaccurate reporting of financial results for the preceding two years.[14] In December 2000, Saylor settled with the SEC without admitting wrongdoing by paying $350,000 in penalties and a personal disgorgement of $8.3 million.[15][16][17] As a result of the restatement of results, the company's stock declined in value and Saylor's net worth fell by $6 billion.[18][19]