bcschief
Well-Known Member
You do every day with the US dollar.
crypto currency investing, anyone?
- Thread starter diymirage
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So, you only use silver and gold American Eagles?
How do you get by in society without an atm card, or Federal Reserve Notes?
harrisonm
Well-Known Member
There is not a snowball's chance in hell that I would ever even think about considering investing in Crypto.
harrisonm
Well-Known Member
Totally disagree with that! It may not be as strong against some currencies as it used to be, but it is real, can be spent, and will never be denied in the USA. Dumb thing to say.
Bigdummy
Not a Nova
I shoulda put my IRA into a gold one i could have tripled my IRA
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For how much crypto bros like to talk about how the limited number of tokens makes cryptocurrency inflation proof, cryptocurrency is a far more volatile thing than fiat currency from anywhere that doesn't have total idiots running the monetary policy. Asset backed stable coins are different, but they're more like stable value funds with a blockchain tied on than decentralized, free-floating cryptocurrency.
A better comparison for cryptocurrency is a tech stock. You have a software product that hasn't really found a clear money making niche yet, but has a large user base and you can invest if you think it's actually going to catch on. It's not the same structure as a stock but there is a lot of the same idea there, not to mention many of the same investors. And cryptocurrency also tends to move in the same direction as tech stocks instead of behaving like gold or other investments that tend to attract buyers when inflation is up.
A better comparison for cryptocurrency is a tech stock. You have a software product that hasn't really found a clear money making niche yet, but has a large user base and you can invest if you think it's actually going to catch on. It's not the same structure as a stock but there is a lot of the same idea there, not to mention many of the same investors. And cryptocurrency also tends to move in the same direction as tech stocks instead of behaving like gold or other investments that tend to attract buyers when inflation is up.
But it has a similar problem to an inflated currency-
Who thinks paying with 1/960000 of a "dollar" is "normal"?
...especially when tomorrow's price might be 3/740000 of a "dollar".
Similarly, I heard on the Radio yesterday, that the interim government in Syria, in an effort to combat inflation, is issuing new currency, and "eliminating" two zeros from the face value.
IE, If you have old currency valued at a $1,000 denomination, you can trade it in for $10 bucks of "new" currency.
Who thinks paying with 1/960000 of a "dollar" is "normal"?
...especially when tomorrow's price might be 3/740000 of a "dollar".
Similarly, I heard on the Radio yesterday, that the interim government in Syria, in an effort to combat inflation, is issuing new currency, and "eliminating" two zeros from the face value.
IE, If you have old currency valued at a $1,000 denomination, you can trade it in for $10 bucks of "new" currency.
No/I do have a debit card but I have money in a checking account for every penny that gets put on that card. Unlike a "credit" card
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