Crypto Currencies

[Skydrol]

Interesting moves happen today. I still have my 15 LTCs, paid $48 USDs for them peaked today at $110 USDs

 

[Skydrol]

Anybody noticed the spike on Crypto values? Specialy Doge Coin. Bitcoin is on the $30Ks USD, but Doge is moving faster.

1 yr performace.

 

[Zehq]

Doge was always a memecoin. I remember when it was created a few years ago on reddit. Surprised to see it spiking. I'm avoiding it as I just don't have any trust in memecoins. Everyone remembers Bitconnect... turned out to be a ponzi scheme.

edit:
Some big money moves going on between potentially the same owner and different wallets.

 

[Skydrol]

Yes, Doge was and is a joke based on Litecoin. However, there is no harm on investing on it to capitalize on the hype. I did, had some cash that I can afford to lose and bought Doge at $0.0023 each, now is at $0.011 waiting to go higher, not greedy, a buck or 10 bucks a coin is more than fine with me.

By no means is a store of value. Just placing a bet on an Underdog (pun intended).

 

[Skydrol]

edit:
Some big money moves going on between potentially the same owner and different wallets.

Perhaps, also though as plan for the "Global Reset" a way of stripping wealth. Klaus Schwab said that "You will own nothing and be happy for it" A lot of people bought on the BTC hype and lost their houses. That coin went to $20K UDS and all the sudden dropped like a rock.

 

[J_D 2.0]

Anybody noticed the spike on Crypto values? Specialy Doge Coin. Bitcoin is on the $30Ks USD, but Doge is moving faster.

1 yr performace.

View attachment 217823

I do wish I would have put money into Bitcoin when I first heard about it many years ago. I think it was around $100 at that time. I remember thinking at the time that it would never get up as the reserve banks would make sure it was destroyed to protect their hegemony.

Too bad I didn’t put a few bucks into it back then or I’d have a decent nest egg by now!

 

[Skydrol]

I do wish I would have put money into Bitcoin when I first heard about it many years ago. I think it was around $100 at that time. I remember thinking at the time that it would never get up as the reserve banks would make sure it was destroyed to protect their hegemony.

Too bad I didn’t put a few bucks into it back then or I’d have a decent nest egg by now!

Tell me about it. I remember BTC at $35 and asking a millenial waiter if he takes BTCs. He looked at me like what the hell I am asking about. I thought back then that BTC was an overpriced hype, a token backed by nothing (which still backed by nothing). What gave BTC the value, as far I know, was the Chinese when the wealthy ones decided to launder their cash. A way of trading Yuans on a Portable Token and convert back into USDs. Remeber several reports about the CCP closing the Crypto Exchanges few years back.

 

[J_D 2.0]

Tell me about it. I remember BTC at $35 and asking a millenial waiter if he takes BTCs. He looked at me like what the hell I am asking about. I thought back then that BTC was an overpriced hype, a token backed by nothing (which still backed by nothing). What gave BTC the value, as far I know, was the Chinese when the wealthy ones decided to launder their cash. A way of trading Yuans on a Portable Token and convert back into USDs. Remeber several reports about the CCP closing the Crypto Exchanges few years back.

Yeah. At the time I heard about it bitcoin was only used for nefarious purposes like silk road etc. It’s now become more accepted despite my belief at the time that the regulators would destroy it.

The big problem with Bitcoin though is that it’s utility can only ever be as a store of value (which only works while people believe in it) and it can’t actually be used as currency. This is because the blockchain and mining use too much electricity.

Maintaining the bitcoin blockchain and mining currently uses about the same amount of electricity as New Zealand and for us to use it as a currency we would need something like five times current worldwide electricity production to maintain the blockchain.

 

[Skydrol]

Agree...

But also, as any tech, BTC is too old and not very efficient. Takes minutes to make a transaction and todays tech world is not acceptable. Found better performance with LTC and can be used for Smart Contracts.

As far been used for nefarious activity. We are always going to have them, Cryptos, Dollars, Chickens, Rocks, Hand Shakes... does not matter, evildoers will find a way to transact. I think, the Nefarious Activity was more than scare tactic to taint their confidence.

Yes could be used as a store of value as long people have confidence on them. I think the Crypto backed with some tangible are going to be the the ones that will make it. Lets say, a Crypto backed by nothing Vs a Crypto "Claim Check" on a asset. I will take the 2nd choice.

 

[shane_3800]

I heard the big foot dollar is up on the market today.

Omg I couldn't help my self.