The State of Cryptocurrency

[R-T-B]

That's terrible inflation. Inflation is bad in currencies, mmkay?

Uh, that's deflation, unless the dollar is inflating...

 

[Space Lynx]

Also one more reason Monero coin has long term value (imo) is that lets say you know you have done something bad like some of these politicians, or a mafia guy, or just a pablo escobar type but lower level and you know you might go to prison for a few years at some point down the road, well when you do historically they would freeze your assetts and confiscate them depending on the crimes committed, and it seems to happen a lot to those types of people - well Monero coin they can't freeze anything, after 5 years in prison, that USB drive you hid - your ready to go bb cakes --- another reason crypto is dangerous and needs to be destroyed by shutting down all exchanges in a UN mandated order, but the UN can't ever do anything, so crypto is here to stay, which is why I am betting on Monero... as the world continues to grow more and more chaotic. I see it as a stock market with Monero... it might not go up much in all honesty. but I do believe its the future along with bitcoin exchanges and a long trail of confusion and error before it could ever be traced back to you, by which time you would be long gone (assuming your a big shot transferring a million or two) lol

 

[FordGT90Concept]

Uh, that's deflation, unless the dollar is inflating...

My bad: point is the inconsistency of cryptocurrencies makes them a dangerous reserve or even medium of exchange. In the time it takes between the transaction occurred and the conversion to legal tender occurs, the value can deflate or inflate a lot. That's a problem for any business, even illicit businesses. It's difficult to settle debts when the value of the debt in the real world is relatively consistent but the value of Monero (or any cryptocurrency used) is so volatile.

...after 5 years in prison, that USB drive you hid...

It could have rusted to the point it is unreable. Could have had cement poured on it. Could have been stolen. Or Monero could be worth next to nothing. Better off buying a bunch of bonds and putting them in a bank security lockbox. Guaranteed to grow over the time you're in lock up.

 

[yotano211]

eh I still believe Monero > Monero > zcash > monero > bitcoin exchange in a distant friends name or some random person i picked and gave 10k cash to, has a better chance of staying ANON for large transactions in the Caymens, or other places the Law doesn't reach so fast. if you wanted to get out fast and with a lot of money and not have your accounts frozen... monero... then find someone who is depserate for 10k cash, give it to them upfront, then have them get the rest of the money for you in their name, they cash it all out, boom your walking around the caymens with 200k in cash. - you can vanish without having your accounts frozen. the government and IRS does move fast on lot of corrupt politicians it seems, i remember reading about a few who had their accounts frozen... if they had monero they coulda booked rpivate plane and started over somewhere else.

monero is dangerous, personally i think it all needs to be shut down, all the exchanges.

So you think that monero is the future and still think that all exchanges should be shut down. How are you going to cash out with all of your monero coins.

 

[R-T-B]

Guaranteed to grow over the time you're in lock up.

Or you know, be seized.

If you are conducting criminal activity, I would not expect institutionalized banking to protect you.

 

[hat]

Or you know, be seized.

If you are conducting criminal activity, I would not expect institutionalized banking to protect you.

Well... if I were a criminal, I wouldn't count on Monero to save me either...

 

[Space Lynx]

Well... if I were a criminal, I wouldn't count on Monero to save me either...

No cash is definitely king I admit. Hidden away somewhere. That being said, a USB drive hidden at relatives or friends house is easier to stash large amounts of money. Criminals do prefer cash only I think though, but who knows, we are not criminals and are not conducting business in the Caymens.

So you think that monero is the future and still think that all exchanges should be shut down. How are you going to cash out with all of your monero coins.

you must not have read everything I wrote in last few posts. I think crypto is more dangerous than people realize, should be shut down in full by governments shutting down all exchanges through a United Nations resolution, but then I said I know for a fact the UN and most nations will never come to an agreement on what to do about cryptocurrency, so it will live for many years to come whether we like it or not, and that I would bet money in a stock market wager, that Monero is one of the few coins that will rise with Bitcoin or even if not rise, longevity wise.

 

[damian246]

And how could someone check what I'm doing on the web if I'll use end-to-end encrypted service which doesn't require any of my information to register?

A blockchain cannot prevent a corrupted user to use it. No blockchain can ever do those kind of stuff.
Crooks use banks, Wallets, Gold, whatever suits them best.

Most people sending their money over blockchains are pretty small time, the real damage is done by our upper echelons.
Politicians love to paint that picture how the drug trade gets into BTC, forgetting that Pablo Escobar was able to ship containers with cash to Columbia.

 

[Space Lynx]

A blockchain cannot prevent a corrupted user to use it. No blockchain can ever do those kind of stuff.
Crooks use banks, Wallets, Gold, whatever suits them best.

Most people sending their money over blockchains are pretty small time, the real damage is done by our upper echelons.
Politicians love to paint that picture how the drug trade gets into BTC, forgetting that Pablo Escobar was able to ship containers with cash to Columbia.

pablo escobar still had to have a network around him though to make it all happen, a very big one which eventually led to his downfall. Monero would allow for lonewolves and fragmented networks of individuals to hold similar levels of power. and vanish quite often using affiliates to cash out in various countries.

 

[R-T-B]

Well... if I were a criminal, I wouldn't count on Monero to save me either...

No, I'd just recomend obeying the law.

 

[Space Lynx]

No, I'd just recomend obeying the law.

Yeah but that is why cryptocurrency is dangerous, say you have fundamentalists, violent ones, implanted in various countries in Europe, its prob rather difficult to get your money from the middle east to them, if i remember right, even Osamas bank accounts were frozen at one point with millions of dollars in them, imagine if he had monero, and was able to distribute it instantly amongst his other fragmented cells, and then they in turn were able to fragment it all up... untraceable... lonewolves with monero, and then all they have to do is either find an affiliate to trasnfer the bitcoin then to cash, or if their record was clean before they became implanted - do it themselves. Very dangerous times we live in. This is one of the main reasons why I argue all exchanges need to be shut down as fast as possible... sadly I have no faith in government to ever get anything done, let alone something not even on their radar.

Bitcoin and coins will exist whether we like them or not, so you can either say eh I want nothing to do with it, or you can play it like the stock market, and treat certain coins as stocks. Long term or short term investments, and so on and so forth. I had mined Bitcoin in 2012 when it was very cheap... lost that HDD though many years ago. Very bummed I missed out. lol

 

[R-T-B]

I also feel crypto needs a regulatory element to address that. An all out ban is probably excessive though.

 

[Space Lynx]

I also feel crypto needs a regulatory element to address that. An all out ban is probably excessive though.

I don't see how you could regulate it, it would need a ban.

That being said, I honestly don't even feel confident it will ever make me money, I was considering investing in a few coins recently, but screw it. I like my money in the bank, as that is the easiest way for me to buy stuff I want at the moment. /shrug

funny thing is, my money just sits in bank because there is nothing I want to buy. gg life and capitalism. I wonder what happens to the markets if everyone gets bored of all this junk like me. lol, I use my publi c library card once in awhile, thats about it. good thing most humans cant control their greed. capitalism would crash over night.

 

[R-T-B]

I don't see how you could regulate it, it would need a ban.

A whitelist of exchanged, state endorsed currencies. There are certainly ways.

 

[Space Lynx]

Are you guys sure bitcoin is dying? How did they get the invested for a 36 megawatt wind farm whose only goal is to mine bitcoin... hmmm im not bullish on bitcoin, but if the hyper and fever of it... could be nice to own one coin... you never know... its created its own little world of investors and people expecting a return, and those people are usually smarter than me. thoughts? at anyone but also @FordGT90Concept

https://arstechnica.com/information...gawatt-moroccan-wind-farm-for-bitcoin-mining/

 

[dorsetknob]

How did they get the invested for a 36 megawatt wind farm whose only goal is to mine bitcoin...

More Speculation With other peoples money Yeh !!!

The company, formed by New York private equity firm Brookstone Partners, hopes to raise $100 million to complete the project, which, in addition to the 36MW of wind, will include computing facilities that draw up to 18MW, as well as an energy storage system to power the computing center when the wind slacks.
Oh and its "" Only a Short Term Plan to mine Coin""
Long Term they are Speculating that they can get Connected to the National Electrical Grid and therefore sell the Generated power (for Real Money).

 

[Space Lynx]

Doesn't change the fact its a lot of smart rich people expecting a return on investment.

 

[FordGT90Concept]

Are you guys sure bitcoin is dying? How did they get the invested for a 36 megawatt wind farm whose only goal is to mine bitcoin... hmmm im not bullish on bitcoin, but if the hyper and fever of it... could be nice to own one coin... you never know... its created its own little world of investors and people expecting a return, and those people are usually smarter than me. thoughts? at anyone but also @FordGT90Concept

https://arstechnica.com/information...gawatt-moroccan-wind-farm-for-bitcoin-mining/

Did you read it? They're basically planning to build it in a warzone and are hoping to change Morrocan law. Sounds to me like a scam: drum up investor support using cheap land (literally Sahara desert) and trending words (especially Bitcoin), buy the land and pretend you're gonna do what you said, take insurance out on the land, provide no resistance when the tribals seize the land back, and cash out on the insurance policy.

It says they hope "to raise $100 million to complete the project," "going to start construction...in January 2019," and "has the rights to 37,000 acres of land." If they had the money, they'd probably already be working on it.

 

[Space Lynx]

Did you read it? They're basically planning to build it in a warzone and are hoping to change Morrocan law. Sounds to me like a scam: drum up investor support using cheap land (literally Sahara desert) and trending words (especially Bitcoin), buy the land and pretend you're gonna do what you said, take insurance out on the land, provide no resistance when the tribals seize the land back, and cash out on the insurance policy.

It says they're "hoping to raise $100 million" and all it says they did is buy the land which is worth next to nothing.

That seems almost as far fetched as the original story. lol but eh, its all nonsense, small fries like us dont matter in this game anymore.

 

[dorsetknob]

Did you read it?

Yes i Did Read it
It will not even get to the Groundworks stage
Expect they learned or are taking lessons from the Crowdfunding Scam
I also wonder how many Directors are Nigerian Princes from Lagos

 

[FordGT90Concept]

This is what we're talking about...

...sand and lots of it.

Yes i Did Read it

Meant to quote lynx, fixed it.

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Cryptocurrency exchanges at risk of manipulation: report

 

[Crusti]

A blockchain cannot prevent a corrupted user to use it. No blockchain can ever do those kind of stuff.
Crooks use banks, Wallets, Gold, whatever suits them best.

Most people sending their money over blockchains are pretty small time, the real damage is done by our upper echelons.
Politicians love to paint that picture how the drug trade gets into BTC, forgetting that Pablo Escobar was able to ship containers with cash to Columbia.

Of course it can't and it's not only in blockchain. Terrorists and drug dealers and all the other bad people will always find ways in order to do their dark things.
Then we should block everything in order to save the world and it's impossible.

 

[Papahyooie]

Lol at saying inflation is bad, then advising others to invest in bonds.

 

[Mighty-Lu-Bu]

Wouldn't be surprised if cyrpto mining in the next 18 months is banned in the U.S.

United States Congress is already performing a full investigation on cryptocurrencies and crypto mining- I think the big reason for a possible ban is because cryptocurrencies have been tied to various criminal organizations.

 

[FordGT90Concept]

Lol at saying inflation is bad, then advising others to invest in bonds.

Bonds are buying debt and gain money based on interest on said debt. Because the federal government is required to pay interest before anything else, they are the safest investment there is. Problem is the return on investment is low. If the bond is local though, you may benefit from whatever the bond was created for (e.g. building a community swimming pool).