Home › Forums › Financial Preparedness › Emergency Funds › Crypto – Separating the gullible from their cash! › Reply To: Crypto – Separating the gullible from their cash!
It depends on when you got in, I mined bit coon when it first came out and was selling them at $10 a coin or buying items on dark Web with it. I stopped and had a wallet with 10 coins left in it forgot all about it hit 20,000 a coin and traded them in….. got some cool stuff for just running a background program while I did not use computer.
Banks use a coin system to get around swift and usa currency controls. Looking at it as investment is stupid, looking at it as a negotiable instrument like gold or silver is a reasonable thing when you buy certain coins…. CERTAIN ONES ONLY if you don’t know anything about coins and their function for God sakes don’t buy as you will.get fleeced. Just like in stock market pigs get slaughtered.
It’s nice to know the currency controls impemented by countries all over the world are no barrier at all you can have financial freedom without supervision in any modern 1 and 2nd world countries… 3rd well what do you expect?
As for acceptance well https://www.zerohedge.com/news/2019-05-19/bitcoin-tags-8k-whole-foods-now-accepts-crypto
Bit coins transaction speed and cost make it more like going and getting a large sum of cash at bank then paying smaller items as too slow and expensive to to individually though most new coins avoid that quandary. You can get free coins too just have to watch listen to bs ads think time share pitch for vacation.
mining is beyond normal computing now as mining right dominate and your computer is way too slow to make a dent.
Also coins are not retrievable….. you lose password you are f@#&!d so be careful no password retrival. You can also store on small key chain drives.
