Crypto Currencies

[Skylarking]

I’m not really here to argue semantics. I’m just saying that putting $500k into a house of your own is a far surer bet than putting $500k into crypto.

Worst case in a housing market, you buy a $500k house and it becomes worth $250k (though you still have the asset). Heck, even if some govco takes your asset, most will give you some compensation for the lost asset, so it’s never a total loss (unless your a drug dealer or a w.a. pensioner and it’s proceeds of crime)

Worst case with crypto, buy $500k of maths and it becomes worth $0 and you have a problem you can’t solve… Oddly, IIUC, for many, the ”coin” is not cryptographically signed with their private key as the “exchange“ signs the coin and “own it”. You just have a promissory note or IOU for their coin… And exchanges can cease trading or deny you access…

So much for the decentralised nature of crypto coins when exchanged hold your “assets”..

 

[wetwork65]

Worst case in a housing market, you buy a $500k house and it becomes worth $250k (though you still have the asset). Heck, even if some govco takes your asset, most will give you some compensation for the lost asset, so it’s never a total loss (unless your a drug dealer or a w.a. pensioner and it’s proceeds of crime)

Worst case with crypto, buy $500k of maths and it becomes worth $0 and you have a problem you can’t solve… Oddly, IIUC, for many, the ”coin” is not cryptographically signed with their private key as the “exchange“ signs the coin and “own it”. You just have a promissory note or IOU for their coin… And exchanges can cease trading or deny you access…

So much for the decentralised nature of crypto coins when exchanged hold your “assets”..

I guess it's not dissimilar to buying a banknote in exchange for a promise of a certain amount of dollars/pounds as gold.
But those days of a gold standard are long gone.
And banknotes no longer "promise to pay bearer".
So probably not better or worse in a lot of ways, but crypto is an extremely unstable pyramid scheme.

 

[mpower]

I’m not really here to argue semantics. I’m just saying that putting $500k into a house of your own is a far surer bet than putting $500k into crypto.

*depending on the market conditions for either.

 

[Skydrol]

I guess it's not dissimilar to buying a banknote in exchange for a promise of a certain amount of dollars/pounds as gold.
But those days of a gold standard are long gone.
And banknotes no longer "promise to pay bearer".
So probably not better or worse in a lot of ways, but crypto is an extremely unstable pyramid scheme.

Cryptos and Central Bank issued Currencies are the same. As I said, is all about confidence. I bet if someone decide to back a Crypto with Gold or Silver, with the promise to deliver the physcal metal, people will move to it. I heard is on the talks. We are heading uncharted waters, all currencies will go nuts, we see Cryptos based on some CB Currency value. Some stuff will be dirt cheap and some stupid expensive. We are watching the end of the banking system, heading to a huge reset, or correction. Nobody know for sure how is going to develop.

 

[J_D 2.0]

*depending on the market conditions for either.

Not really. Even the worst market conditions for housing will still see you retain some value as opposed to crypto where you can lose 100% of the value.

I’m sure there are exceptions to that depending on what country your in but here in Australia houses are, well, as safe as houses!

 

[mpower]

Not really. Even the worst market conditions for housing will still see you retain some value as opposed to crypto where you can lose 100% of the value.

I’m sure there are exceptions to that depending on what country your in but here in Australia houses are, well, as safe as houses!

haha

it's funny people say this.

all these houses are worth zero. "safe as houses" my butt..

Detroit is a cautionary tale on why you should always be aware if there is an industry in the city you buy in that's a major employer.

China is worse, many of these abandoned apartments are owned by property speculators.

 

[Skydrol]

Markets can take a nasty turn on a dime.

Nothing is sure on this planet, except for death.

 

[Immortality]

Cryptos and Central Bank issued Currencies are the same. As I said, is all about confidence. I bet if someone decide to back a Crypto with Gold or Silver, with the promise to deliver the physcal metal, people will move to it. I heard is on the talks. We are heading uncharted waters, all currencies will go nuts, we see Cryptos based on some CB Currency value. Some stuff will be dirt cheap and some stupid expensive. We are watching the end of the banking system, heading to a huge reset, or correction. Nobody know for sure how is going to develop.

TBH, I think you make up a lot of this ****, it's conspiracy ****, no substance in anything you post.

you are all talk.

Why don't you take your pathetic opinions somewhere else on a US website where you can all lament about how Biden or Trump or whom ever is next in the the big house is trying to **** you up the arse!

 

[Skylarking]

TBH, I think you make up a lot of this ****, it's conspiracy ****, no substance in anything you post.

Admittedly, lots of stuff he says can be “dark” and tarnished with conspiracy sound bytes but it’s not without precedence that a central banks currency has dropped to near zero Value in many 8n stances in m6 lifetime...

Such has occurred in a few countries and their citizens have lost much if not all of their savings while physical possessions have still been kept in tacked (if the banks didn’t try and take them). And one indicator of trying to stymie such a collapse is freezing peoples access to their bank funds. It can be a clusterfuck similar to people wanting to bail from crypto… Tbisk of it like pidgeons in a town square, when they get frightened they all take off and shite on anything around…

Heres a short article on yne subject

5 Failed Currencies And Why They Crashed

When it comes to the value and stability of a currency, there is no free lunch. A nation's currency is not exempt from the laws of supply and demand, so the more that is printed, the less it is worth.

www.forbes.com

and a more detailed article below (which I haven’t read)

https://www.brookings.edu/wp-content/uploads/2016/07/1995b_bpea_dornbusch_goldfajn_valdes_edwards_bruno.pdf

Id say just because we as people don’t like to hear how our financial lives can end through no fault of our own, even with todays modern controls, doesn’t mean it’s impossible for shite to hit the fan big time.…

The USA used massive QE (quantity easing = turn up the speed of the money printing presses) to save the day after 2008 market crash. It’s something replicated by other countries doing the same QE bullshite. It may have avoided catastrophe at the time but there is no free lunch. Something has to the give now that the music and the merry go round has stopped as the feds have tightened their purse strings via another acrony, QT (quantitive tightening), and quickly followed by increasing rates trying to reign in inflation just as money is now in short(er) supply.

It may be that the blood bath hasn’t started in earnest as yet… time will tell how bad it can get but already pension funds are seeing negative growth over the last year which ain’t great if your retiring… Meanwhile those pension funds that jumped into crypto probably are seeing worse numbers and stressed members… It can all go very poo in fan scenario very quickly…

Having tangible physical assets is the only protection one can have… as long as everyone in the town you live in doesn’t up and move.… then you’re also pooed…

 

[Immortality]

I'm fairly sure the US banking system isn't about to collapse like Greece did in recent years.

**** happens, things go up in value but also down, it's a fact of life but people now see something decrease in value and suddenly the world is going to end.