It Was Incredibly Bad Timing For Crypto To Go South (Page 3): I don't deal in crypto dummy. I deal in hard assets such as gold and silver; they, and not the paper money that you...

Parky60 Loc: People's Republic of Illinois

woodguru wrote:

As I said, I'll put a thousand in the bank, you put a thousand in your favorite crypto...tomorrow, we'll see who rests easier knowing they can withdraw a thousand dollars whenever they want.

I don't deal in crypto dummy. I deal in hard assets such as gold and silver; they, and not the paper money that you foolishly depend on and think will retain its value, will come in handy quite nicely in the coming economic collapse.

jack sequim wa Loc: Blanchard, Idaho

woodguru wrote:

How much you have in that now jack?

Zero, the only security for thousands of years has been gold and/or silver .

Parky60 Loc: People's Republic of Illinois

woodguru wrote:

Put a hundred dollars in the bank and you can withdraw a hundred dollars

But with the current situation, it will be worth much less because of inflation.

woodguru

Parky60 wrote:

I don't deal in crypto dummy. I deal in hard assets such as gold and silver; they, and not the paper money that you foolishly depend on and think will retain its value, will come in handy quite nicely in the coming economic collapse.

That may be the biggest delusion of all, that in a collapse gold and silver is "worth" anything, the only thing I ever did was buy silver at $6 and gold at under $800 and sell it at the point where it had doubled, at one point I saw platinum at less than gold and snapped up a large amount that I sold at half again what I paid...but sit on it? That's silly.

You can't respond without calling names, is dummy any different than moron or stupid, shall we ask a moderator?

woodguru

jack sequim wa wrote:

Zero, the only security for thousands of years has been gold and/or silver .

My grandmother managed to lose $250k in that "great" silver investment, but then I had been telling her how stupid it was when she had made millions in real estate.

woodguru

Parky60 wrote:

But with the current situation, it will be worth much less because of inflation.

That depends on what you take it out to buy, boats are coming down, the same money from a year ago will buy way more boat over the next year or two. Same for real estate, try buying a lower priced house when crypto and markets crash, meanwhile the money you put in the bank will still be there.

jack sequim wa Loc: Blanchard, Idaho

woodguru wrote:

My grandmother managed to lose $250k in that "great" silver investment, but then I had been telling her how stupid it was when she had made millions in real estate.

No question real estate has made many wealthy but also made wealthy poor. When market's dive it can take a decade to break even in real estate and a few years more to realize big profits. With exceptions to real estate smarter than most investors, most millionaires from real estate are generational wealth that have had land Holdings for decades , many rural that became intruded with growth, spiking land and property values.
I managed a company in Renton Washington that the 4.5 acres it sat on, 40 years earlier was useless and could have been purchased for 30k. The intersection became the highest traffic in the state. In 2000 the property was valued at 8.2 million and today I could only guess.
The same happened to hundreds of thousands of people in California owning a 1300 Sq ft 3 bedroom rambler they purchased in the 70"s for 30-50 k and sold for 700k- 5 million location, location. My Point is wealth through dumb luck and generational weather. We live in the highest generational wealth in history . Dad and mom willed their estate (generally property) they owned for 30, 40, 50 years and the kids became millionaires...what I refer to as dumb luck and not real estate savvy.
If those owing real estate or stocks this very day and t***sfer to precious metals, their wealth will increase or in the least be protected. We are pacing towards a real estate bubble popping that will make 08/09 look like a tiny blip on the screen. Banks will fail and even FDIC can limit removing funds at their will. Biased on every marker of past crashes of Wallstreet, we are in very serious trouble.

woodguru

Here's the kind of grift that can be behind crypto when there are no regulations for accounting for deposits and protecting them, it's an "investor" beware environment...too many people putting money in look at it as money in the bank. When you sell something and allow someone to pay you with bitcoin or wh**ever are you looking for a thousand dollars to be only five hundred when you go to take it out?

https://www.newsweek.com/jake-paul-kim-kardashian-list-celebrities-sued-cryptocurrency-ads-1706331

woodguru

So reading this article I caught where the administration was saying they had "burned" 400 Trillion tokens from their administrative wallet...half of their administrative tokens.

What the hell? The have 400 trillion tokens left to do wh**ever they want with? They can literally give anyone they choose millions in tokens for services rendered such as sales to other victims investors, they then dump millions worth of their stock, which is literally paying themselves with sucker's money they deposited.

If this sounds like something that makes sense to put hard earned money into you are impaired, your brain is not functioning.

That number still gets me, that they had 800 trillion tokens, my guess it they started with an even 1000...when even a trillion is an incomprehensible number

https://www.newsweek.com/jake-paul-kim-kardashian-list-celebrities-sued-cryptocurrency-ads-1706331

jack sequim wa Loc: Blanchard, Idaho

woodguru wrote:

So reading this article I caught where the adminis... (show quote)

No argument from me
No different than what's is and has been happening on Wallstreet

Parky60 Loc: People's Republic of Illinois

woodguru wrote:

That depends on what you take it out to buy, boats are coming down, the same money from a year ago will buy way more boat over the next year or two. Same for real estate, try buying a lower priced house when crypto and markets crash, meanwhile the money you put in the bank will still be there.

This has nothing to do with crypto. It's about inflation. How are you going to buy "way more boat" or "more house" in a year or two when the same boat or house costs more than it does now?

Parky60 Loc: People's Republic of Illinois

woodguru wrote:

... meanwhile the money you put in the bank will still be there.

Losing more buying power every day.

Parky60 Loc: People's Republic of Illinois

woodguru wrote:

That may be the biggest delusion of all, that in a collapse gold and silver is "worth" anything, the only thing I ever did was buy silver at $6 and gold at under $800 and sell it at the point where it had doubled, at one point I saw platinum at less than gold and snapped up a large amount that I sold at half again what I paid...but sit on it? That's silly.

You can't respond without calling names, is dummy any different than moron or stupid, shall we ask a moderator?

You lie like breathing. But I've come to expect nothing less. The last time silver was at $6 an ounce was 1932.

son of witless

jack sequim wa wrote:

You will have a clue very soon. I had to first understand what Block Chain is, then cryptocurrency. China is already there and it's coming soon.

" very soon " I know China is allowing non-fungible tokens in block chain, but has banned crypto currencies. I admitted my ignorance in this field. Perhaps you can explain for me and the rest of the folks in the peanut gallery, what the difference is between NFTs and crypto currencies.

Anyway with the major slowdown in the Chinese economy, I can't see why any of this matters for the present. Wouldn't China want to wait on Block Chain until things improve in their economy ?

jack sequim wa Loc: Blanchard, Idaho

son of witless wrote:

" very soon " I know China is allowing non-fungible tokens in block chain, but has banned crypto currencies. I admitted my ignorance in this field. Perhaps you can explain for me and the rest of the folks in the peanut gallery, what the difference is between NFTs and crypto currencies.

Anyway with the major slowdown in the Chinese economy, I can't see why any of this matters for the present. Wouldn't China want to wait on Block Chain until things improve in their economy ?

Start with Block chain how it was explained to me, like I was a 5 year old.
Block chain is in simplest terms a extreme version of Identification. One is identified of every possible purchase but it doesn't stop there, it identifies not only the owner with zero error, but specifically identifies each item purchased with the ability to shut off specifics. Over weight and put green beans, lettuce, snickers, and chocolate ice-cream . The identification was approve green beans, lettuce but deny the snickers and ice cream.
Let's talk carbon footprint. Since all payments go through block chain and the electric allocation is (X) kilowatts, water consumption is (X) gallons per person and you continually go over your payment will be regulated forcing less consumption or risk disconnection. Same with fuel consumption.
Also with block chain all email, Facebook, Twitter is signed in with your Block chain account using more advanced technology algorithms. Any non compliance post directly effect your "Social scoring" along with carbon footprint, diet/health ect .
Non compliance lowers your social scoring and non complaint post can their down any spending on probationary or pre determined time.
Best bet v*****e will be a large part of social scoring.
Where you visit, friends, family, Church, work and their social scoring of people or places can impact your score.
Block Chain is completely separate from any form of currency, crupto or not but cryptocurrency uses Block Chain as a result of it's higher technology of identification.

Anyone reading this, please chime in