World of crypto

[NottsRam77]

On 03/05/2023 at 14:28, Stive Pesley said:

First of all Binance and Crypto.com are both crypto exchange platforms that hold your wallet for you, so unless you trust one more than the other then there doesn't seem a deal of point in moving your VOXEL assets from one wallet to the other

You said that Binance have stopped the trading pairs of VOXEL/BNB, but that doesn't really matter to you given what else you've said. BNB is the Binance Coin - so a crypto asset owned and run by Binance. If you have no intention of converting your VOXEL to BNB then it's of no concern

Howver - I guess if Binance no longer want to trade their own BNB for Voxel, then I suspect this confirms that they believe VOXEL to be junk coin now. I guess the dudes who started it up, did the hard sell and got a load of people to buy it have done OK, as have Binance but mostly these fringe cryptocoins all end up junk. Ask yourself who now has the £910 that you spent on VOXEL. Where is it?

I'm glad you seem cool about your losses, that's a plus. I'm the sort who also wouldn't invest money I couldn't afford to lose, but you have to feel sorry for the people who have gambled on crypto and lost much more than a grand

This is where the btc gets tarnished 

my advice to anyone would be stay away from altcoins.

yes theres plenty of examples of people who have bought one and then its done a 10, 100, 1000 x but its a risk its basically putting a bet on the casino wheel and hoping ur coin doesnt tank, doesn't get manipulated, doesnt run out of marketing budget.

altcoins are centrally controlled and so ur at the hands of others who 99/100 will pump the coin and then dump it on fomo ing retail investors.

btc isnt these

the only thing i would add, while i wouldnt touch any altcoin at all timing is everything were not far off the next halving and who knows which coin will go and do 1000 x

but theyre a gamble

 

[NottsRam77]

Its an unlikely scenario but should the US not agree to increase the debt ceiling ( borrow more money to pay existing debt, u know like a good ponzi system) then can someone please tell me an asset that isnt gold or bitcoin where your money / pension is safe reading this not even bricks and mortar would be the usual go to safe … not short to mid term anyhow

https://www.bbc.co.uk/news/business-65633280

bare in mind they have i believe now less than 2 weeks to reach an agreement

[Stive Pesley]

26 minutes ago, NottsRam77 said:

please tell me an asset that isnt gold or bitcoin

I can see the logic of gold being a physical asset, but bitcoin doesn't physically exist any more than the debt ceiling does. It's just big spreadsheet 😂 Not to mention lost keys

I know what you are saying - but I'm sceptical that BTC is the saviour here - it's just another system with its own problems

[NottsRam77]

3 hours ago, Stive Pesley said:

I can see the logic of gold being a physical asset, but bitcoin doesn't physically exist any more than the debt ceiling does. It's just big spreadsheet 😂 Not to mention lost keys

I know what you are saying - but I'm sceptical that BTC is the saviour here - it's just another system with its own problems

totally disagree that it doesnt exist 

its a living, working permisionless, transparent blockchain.

Transactions on it can be viewed by anyone, at anytime, anywhere in the world..

Unlike the US dollar and the debt ceiling, more cant be printed above its programmed 21m. So it cant be diluted to oblivion and neither can it be controlled and manipulated by a small minority 
 

Lol yes lost keys is a problem….. although theres a simple answer if u invest x amount of money into anything dont stupid enough to lose ur keys / password/ pin number lol

 

Edited May 19, 2023 by NottsRam77

[NottsRam77]

3 hours ago, Stive Pesley said:

I can see the logic of gold being a physical asset, but bitcoin doesn't physically exist any more than the debt ceiling does. It's just big spreadsheet 😂 Not to mention lost keys

I know what you are saying - but I'm sceptical that BTC is the saviour here - it's just another system with its own problems

Joking aside though, read the article 

dont u find it frightening .. the worlds largest economy and currency that everything in the world is basically tied To is based on a debt.

a debt that is so big, theyre having to raise the debt ceiling so they can borrow more just to service just the interest alone on it… nevermind reduce the amount on they owe.

and (globally) are tied to this currency… ao if it goes belly up we all do 

it wont happen but just makes u think how did this manifest and become the norm.

Its just a crazy notion when u sit back and think about it

Edited May 19, 2023 by NottsRam77

[Stive Pesley]

51 minutes ago, NottsRam77 said:

Joking aside though, read the article 

dont u find it frightening .. the worlds largest economy and currency that everything in the world is basically tied To is based on a debt.

a debt that is so big, theyre having to raise the debt ceiling so they can borrow more just to service just the interest alone on it… nevermind reduce the amount on they owe.

and (globally) are tied to this currency… ao if it goes belly up we all do 

it wont happen but just makes u think how did this manifest and become the norm.

Its just a crazy notion when u sit back and think about it

Oh god yeah - it's nuts, I do agree with you, I was only really just quibbling the idea that BTC is real like gold. You can't touch it, so it's not real to me - but I get the notion that it's more real than FIAT currency these days. 

[NottsRam77]

9 hours ago, Stive Pesley said:

Oh god yeah - it's nuts, I do agree with you, I was only really just quibbling the idea that BTC is real like gold. You can't touch it, so it's not real to me - but I get the notion that it's more real than FIAT currency these days. 

Yer i get what ur saying 😊👍

[NottsRam77]

This guy will be running in the next presidential elections 

could be v interesting for the crypto / bitcoin space 

 

[Stive Pesley]

14 minutes ago, NottsRam77 said:

This guy will be running in the next presidential elections 

could be v interesting for the crypto / bitcoin space 

 

Do you think Bitcoin will be a big political issue for the average US citizen? Certainly interesting that he's campaigning on it

My suspicion is that most US voters will just be put off by his weird voice syndrome thing. 

Also his thing about accepting campaign donations in BTC will be undermined slightly by what happened with FTX

 https://cointelegraph.com/news/75m-worth-of-ftx-s-political-donations-at-risk-of-being-recalled-due-to-bankruptcy-report

 

 

[NottsRam77]

2 hours ago, Stive Pesley said:

Do you think Bitcoin will be a big political issue for the average US citizen? Certainly interesting that he's campaigning on it

My suspicion is that most US voters will just be put off by his weird voice syndrome thing. 

Also his thing about accepting campaign donations in BTC will be undermined slightly by what happened with FTX

 https://cointelegraph.com/news/75m-worth-of-ftx-s-political-donations-at-risk-of-being-recalled-due-to-bankruptcy-report

 

 

maybe its a bigger issue than the average brit realises. 
 

re ftx…. Theres a saying that all bitcoiners and anyone in the space are aware of

“not your keys , not your crypto” if ur silly enough to leave ur holdings on an exchange then im sorry uv got it coming.

hold ur bitcoin in cold storage, ledger. Where it is safe and no one but no one can access it without u giving them ur 24 word seed phrase 

i can gurenttee u our resident president to be (maybe) wont be holding his payments on an exchange owned by someone else 

[i-Ram]

On 19/05/2023 at 21:37, Stive Pesley said:

Oh god yeah - it's nuts, I do agree with you, I was only really just quibbling the idea that BTC is real like gold. You can't touch it, so it's not real to me - but I get the notion that it's more real than FIAT currency these days. 

I might have a Punto on that FIAT currency. Might get 500x returns.

[tinman]

43 minutes ago, i-Ram said:

I might have a Punto on that FIAT currency. Might get 500x returns.

Bravo!

[Stive Pesley]

56 minutes ago, i-Ram said:

I might have a Punto on that FIAT currency. Might get 500x returns.

I know you just want to turn it into a thread full of FIAT puns but I refuse to Panda to that

[Day]

6 hours ago, NottsRam77 said:

maybe its a bigger issue than the average brit realises. 
 

re ftx…. Theres a saying that all bitcoiners and anyone in the space are aware of

“not your keys , not your crypto” if ur silly enough to leave ur holdings on an exchange then im sorry uv got it coming.

hold ur bitcoin in cold storage, ledger. Where it is safe and no one but no one can access it without u giving them ur 24 word seed phrase 

i can gurenttee u our resident president to be (maybe) wont be holding his payments on an exchange owned by someone else 

Is this not exactly why it will never be adopted as a mainstream currency? will not advance beyond a tradable virtual token within the tech savvy community until the next big thing comes along?

Dare I say it almost feels almost cult like now, similar to those pesky vegans trying to convince everybody that plant based food is the future, although this is to help pump the profits for those that got in there early, as a Bitcoin newcomer, those profits will be extremely small if timed extremely well.

[NottsRam77]

7 hours ago, David said:

Is this not exactly why it will never be adopted as a mainstream currency? will not advance beyond a tradable virtual token within the tech savvy community until the next big thing comes along?

Dare I say it almost feels almost cult like now, similar to those pesky vegans trying to convince everybody that plant based food is the future, although this is to help pump the profits for those that got in there early, as a Bitcoin newcomer, those profits will be extremely small if timed extremely well.

It is a problem .. safe storage of your purchased bitcoin/ crypto.

i have friends who are still adverse to internet banking (they are red dogs so what do u expect) and obviously theres a lot of old folks that still struggle remembering their pin number so remembering where they put their 24 seed phrase is shall we say problematic.

the thing is though, people and no disrespect, but people like yourself see it as “that token” that loads of scammy youtubers talk about to as u say pump and take profit at others expense.

where as actually it solves a problem that most of the british people dont see as it doesnt effect them .. so why should they.

if u live in venezuela, peru, el salvador etc and ur currency is not only tied to the dollar but has been debased to s*** against it then bitcoin offers u a means to-  over time (key point) protect the value of your money. so while their native currencies have been devalued against the dollar and the price of the their goods and imports have become more and more expensive over the same 5 year period their bitcoin has not just stayed above the rate of inflation, its far exceeded it.

We’re v isolated and dare i say insulated from these issues as we comparatively have a strong economy and hyper inflation has never been a thing here.

or are we…. Inflation is riding high at 10% still for reasons we all know.

so let me ask u a question. Lets say youve got money, a good amount of money saved. Saved for your retirement, saved for ur kids, ur family whatever and u want to protect it from being devalued to inlfation thats running at 10%
 

say we’re still seeing out shopping bills going up 50% every couple of months, 6 months, anually.

where are u putting that big lump sum of money to protect its value and make sure in 10-20 years time its still worth to your family what it is now?

a bank? Savings account/ isa - Ur way behind inflation 

property ? perhaps, although if u rent it out ur paying tax in ur earnings now so u need to be able to fund it. 

gold? 

Not saying anyone should buy btc on that notion but its just an interesting and perhaps more real problem than people here realise it just doesnt effect the average joe in the street over here yet 

Edited May 23, 2023 by NottsRam77

[i-Ram]

[Stive Pesley]

1 hour ago, NottsRam77 said:

the thing is though, people and no disrespect, but people like yourself see it as “that token” that loads of scammy youtubers talk about to as u say pump and take profit at others expense.

where as actually it solves a problem that most of the british people dont see as it doesnt effect them .. so why should they

This is it isn't it? For almost everyone in a developed country with a stable currency, money is just something that we earn and spend. So the problem of hyper inflation and how to protect the value of any savings is not a problem to be solved. Especially if you're one of the 35% of people who have no savings at all

It might be a problem one day though, but without an embedded method of earning and spending BTC I struggle to see how it will take off. Maybe it's chicken and egg - and it will take a massive currency crash/hyperinflation for it to become a viable solution for people. But will it not be too late by then given that the number of BTC is finite? How can it suddenly be adopted by hundreds of millions more people whilst remaining at a stable value?

That said - I think a proof-of-stake  blockchain currency is inevitable, just won't be BTC

 

 

[Day]

3 hours ago, NottsRam77 said:

It is a problem .. safe storage of your purchased bitcoin/ crypto.

i have friends who are still adverse to internet banking (they are red dogs so what do u expect) and obviously theres a lot of old folks that still struggle remembering their pin number so remembering where they put their 24 seed phrase is shall we say problematic.

the thing is though, people and no disrespect, but people like yourself see it as “that token” that loads of scammy youtubers talk about to as u say pump and take profit at others expense.

where as actually it solves a problem that most of the british people dont see as it doesnt effect them .. so why should they.

if u live in venezuela, peru, el salvador etc and ur currency is not only tied to the dollar but has been debased to s*** against it then bitcoin offers u a means to-  over time (key point) protect the value of your money. so while their native currencies have been devalued against the dollar and the price of the their goods and imports have become more and more expensive over the same 5 year period their bitcoin has not just stayed above the rate of inflation, its far exceeded it.

We’re v isolated and dare i say insulated from these issues as we comparatively have a strong economy and hyper inflation has never been a thing here.

or are we…. Inflation is riding high at 10% still for reasons we all know.

so let me ask u a question. Lets say youve got money, a good amount of money saved. Saved for your retirement, saved for ur kids, ur family whatever and u want to protect it from being devalued to inlfation thats running at 10%
 

say we’re still seeing out shopping bills going up 50% every couple of months, 6 months, anually.

where are u putting that big lump sum of money to protect its value and make sure in 10-20 years time its still worth to your family what it is now?

a bank? Savings account/ isa - Ur way behind inflation 

property ? perhaps, although if u rent it out ur paying tax in ur earnings now so u need to be able to fund it. 

gold? 

Not saying anyone should buy btc on that notion but its just an interesting and perhaps more real problem than people here realise it just doesnt effect the average joe in the street over here yet 

Bitcoin doesn't fully protect your savings either.

Let's say you're tech savvy enough to protect your Bitcoin, you put £10k into it.

Betty, we need a new car, let's take our savings out of Bitcoin, wait, why is it only worth £6k now? What happened?

That will be the dip.

Which does happen, last year it crashed massively, ok it recovered but even today, it's down 0.54% on the month.

You can argue that nobody saves money for just a month, however you never know what's round the corner, new car, funeral, boiler broke, all of which you will be paying higher prices due to the inflation anyway on money you may have made zero profit on.

[Archied]

On 08/04/2023 at 10:26, GboroRam said:

It's a fight that they can't win, though. 

“There isn’t a train that moves in this country, not a bin gets emptied or a shelf that gets stacked stacked without the kind, generous permission of the working class.” 

They need us. We don't need the financial speculators and the billionaires. 

Jeez , an area where we might be of the same mind 😂, problem is the masses don’t realise the power lays in our hands to just say NO ,

as I’ve said on another thread , many years ago the green movement made sense to me and within that there was the idea we could use more of a bartering system if enough of us chose to , yes we also need to consider some kind of tax system for national health ,services and such like but those that are rinsing the masses need a bit of a bloody nose🤷🏻‍♂️

[Stive Pesley]

56 minutes ago, David said:

Bitcoin doesn't fully protect your savings either.

Let's say you're tech savvy enough to protect your Bitcoin, you put £10k into it.

Betty, we need a new car, let's take our savings out of Bitcoin, wait, why is it only worth £6k now? What happened?

That will be the dip.

Which does happen, last year it crashed massively, ok it recovered but even today, it's down 0.54% on the month.

You can argue that nobody saves money for just a month, however you never know what's round the corner, new car, funeral, boiler broke, all of which you will be paying higher prices due to the inflation anyway on money you may have made zero profit on.

Yep - Look at how volatile BTC is in comparison to GBP

Never mind savings, hand up who wants to get their monthly salary paid in something so unpredictable?