cryptocurrency

[dee]

This week bought 8k worth new ACH token at 2p after reading white paper. They get partnered with Binace yesterday who need them bad and go to 20p that is insane in 24hrs.. I can see how people becoming millionaires overnight in crypto. If I'd just grown some bollocks and done a couple grand I'd made a small fortune.. next time..

Which exchange ? most dont have at mo ?

 

[ian]

https://www.google.co.uk/amp/s/www.independent.co.uk/climate-change/news/bitcoin-mining-china-environment-carbon-b1827396.html?amp

That article is now inaccurate given the amount of miners moving away from China. In any case, the point still stands, the Internet uses much more; this is just another disruptive technology to help us grow as a species.

 

[JMI]

Which exchange ? most dont have at mo ?

Coinbase

 

[Murray]

or check out the Fed's balance sheet today compared to

2008 when we had the great crash. FIAT is without doubt a ginormous Ponzi scheme that could be close to collapse.

If this type stuff interests you check out Jeff Sniders work, he is a savant about the banking system, currency, 2008 crisis etc

The Fed create bank reserves, the biggest misinformation is that when their balance sheet moves theres more currency creation, bank reserves arent money its just a balance sheet asset swap, reserves for usually treasuries

If the Fed are actively having to do things that means the real private system is not working well, no different than the government handing out money with SEISS payments etc (all though unlike the Fed they do deal in currency), they arent doing it because things are good theyre trying to fill a hole

This image is from a Fed site and shows the real picture

Look at the steady rise of household and business debt increase up to 2008 (real money creation) and plot where it should be now without the 2008 financial crisis .. look at Fed balance sheet expanding to try and fill that gap

Again though bank reserves arent money so what theyre doing isnt inflationary

 

[LCHappy]

I've swapped my view on Bitcoin, 10 years as a denier of it, I think it is here to stay and with the lightning network it is part of a viable payment option.

If China couldn't shut it down, then it's passed one of its bigger tests in my book.

I'm adding it to my portfolio, Gold and BC going forward

 

[Ben Thomas]

Bitcoin needs to be seriously regulated. It should be illegal to mine it using anything other than renewable energy. That goes for any crypto IMO. The latest climate report is very, very bad.