Cryptocurrency

[DonSSDD]

Well, it’s official, we all have to buy some crypto now. Kim Kardashian said so.

My first thought is, why do we need crypto?

Second, why do we need Kim?

To me, crypto is a croc, pure gambling. Better to buy a Tesla as an investment that will become a collectable classic in the future. Yah right.

 

[wristpin]

Don you should stop stalking Kims' facebook, Twitter, etc. Its starting to get weird.

 

[bobs409]

I'm leaving my money in my mattress! We don't need crypto or kim btw.

 

[Tom Kochtanek]

From the open web:

"The main point of cryptocurrency is to fix the problems of traditional currencies by putting the power and responsibility in the currency holders' hands. All of the cryptocurrencies adhere to the 5 properties and 3 functions of money. They each also attempt to solve one or more real-world problems. "

Said currencies are put in play by what is known as "mining", generally in the form of solving a very complex algorithm using linked computers. Then they can be sold/traded/hoarded. To me the current status of such digital currencies is as an investment, so things are super risky. More of a gamble than an investment. We read about these instant millionaires, but that is simply a by product of the perceived risk.

I don't understand the drive to own digital currency fully, I suspect that might take some time to evolve into a functional and stable product, if at all. Right now it's a hedge or a bet that things will go up. I don't see much use as an exchange medium (buying stuff with crypto), but that time might come.

TomK

 

[Phil Reed]

I have NO INTEREST in digital currency!!!!!!!!!!

 

[Don Jacks]

I have NO INTEREST in digital currency!!!!!!!!!!

x1,000

 

[1958 delivery]

wHERE DO ******* PEOPLE COME UP WITH ALL THIS CRAP?

 

[Iowa 409 Guy]

Voices.....it's the voices......

 

[63 dream'n]

Never even heard of it ………what the hell

 

[61BUBBLE348]

It all sounds good and fluffy, until it is hacked, banned or worse becomes mainstream, it is sort of in when banks don't hold enough physical asset to cover what they dish out in loans etc, all my work transactions are done digitally (in a way crypto) so FIAT currency still has a value.
Typically if someone values their Crypto they immediately reference FIAT currency as its value.

The true test will be when the shit hits the fan and you want to buy a loaf of bread.