Digital Money

Casual discussion amongst spiritual friends.
mario92
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Digital Money

Post by mario92 » Mon Feb 05, 2018 4:01 pm

Namasté dhamma wheel i have been investigating about bitcoin and the very easy way to do money. Can it be compared to gambling? I feel some disconformidad when some people loose their money from one day to another, and other people are traveling around the globe, can it be a Good source of merit? I heard the stories of the tipitaka when Someone became rich in one day after giving to an arahant or buddha, but i don't know, What could been their side effects? I'm a beginner so i don't understand so much the technical terms. Maybe all kind of work nowadays are oriented towards earning much money. Can i use This way of earning money to Pay some debts? I was going to take a job of selling credit cards, it Is difficult to find a work in which i feel confidence.
Good morning, have a nice day

rightviewftw
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Re: Digital Money

Post by rightviewftw » Mon Feb 05, 2018 4:14 pm

Trading is fine but you need to educate yourself about the positions and edges you are looking for, you also need good Money Management as in wagering part of your roll according to the Expected Return on Investments and the calculated Risk of Ruin.

What sucks about trading is that it is mentally taxing, it will give rise to greed and anger a lot.
How to meditate: Anapanasati, Satipatthana.
Intro to General Semantics
Factors & Perceptions

Parallel Dhammapada Reading
Chinese to Eng Dhp
"The statements; 'With the remainderless stopping & fading of the six contact-media is it the case that there is anything else?' '.. is it the case that there is not anything else .. is it the case that there both is & is not anything else .. is it the case that there neither is nor is not anything else?' objectify non-objectification. However far the six contact-media go, that is how far objectification goes."

mario92
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Location: My house

Re: Digital Money

Post by mario92 » Mon Feb 05, 2018 4:45 pm

Thank you right view: )
Good morning, have a nice day

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LG2V
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Re: Digital Money

Post by LG2V » Mon Feb 05, 2018 5:58 pm

Bitcoin, Ethereum, and other cryptocurrencies are not gambling. They're more like investment opportunities. Good ones at that. They're the face of the new economy, and I think that anyone who has discovered them right now is quite fortunate, because lots of money can be made by investing in them at this time.
Here are some excellent sites for giving free Dana (Click-Based Donation):
http://freerice.comhttp://greatergood.com/www.ripple.orgwww.thenonprofits.com

rightviewftw
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Re: Digital Money

Post by rightviewftw » Mon Feb 05, 2018 7:04 pm

also maybe op soliciting people into buying BTC, its falling now so it is suspicious...
Image
Last edited by rightviewftw on Mon Feb 05, 2018 8:27 pm, edited 1 time in total.
How to meditate: Anapanasati, Satipatthana.
Intro to General Semantics
Factors & Perceptions

Parallel Dhammapada Reading
Chinese to Eng Dhp
"The statements; 'With the remainderless stopping & fading of the six contact-media is it the case that there is anything else?' '.. is it the case that there is not anything else .. is it the case that there both is & is not anything else .. is it the case that there neither is nor is not anything else?' objectify non-objectification. However far the six contact-media go, that is how far objectification goes."

dharmacorps
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Re: Digital Money

Post by dharmacorps » Mon Feb 05, 2018 8:25 pm

I view cryptocurrency as speculative, risky (based on the graph posted you see that), and reckless to put money into. It is not investing. Only time will tell if it can or will play a role long term in any kind of economy or if it is just hype.

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LG2V
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Re: Digital Money

Post by LG2V » Mon Feb 05, 2018 10:53 pm

rightviewftw wrote:
Mon Feb 05, 2018 7:04 pm
also maybe op soliciting people into buying BTC, its falling now so it is suspicious...
I doubt that OP is coming on to a Buddhist forum to solicit bitcoin purchases. I can sympathize, since I had many of the same concerns when I first invested into cryptocurrency. "Is this a wise investment, given the parameters established by the scriptures?" I've come to the conclusion that it is, or at the very least, isn't decidedly foolish.
Here are some excellent sites for giving free Dana (Click-Based Donation):
http://freerice.comhttp://greatergood.com/www.ripple.orgwww.thenonprofits.com

perkele
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Re: Digital Money

Post by perkele » Mon Feb 05, 2018 11:00 pm

mario92 wrote:
Mon Feb 05, 2018 4:01 pm
Can i use This way of earning money to Pay some debts?
You can also use it as a way of losing money and multiplying your debts. I did that. It's easy.
LG2V wrote:
Mon Feb 05, 2018 5:58 pm
and I think that anyone who has discovered them right now is quite fortunate, because lots of money can be made by investing in them at this time.
Or it could be lost.
rightviewftw wrote:
Mon Feb 05, 2018 7:04 pm
What sucks about trading is that it is mentally taxing, it will give rise to greed and anger a lot.
Yes.

As can be seen from the graph above, Bitcoin price has started dropping into a bottomless pit. I guess it will drop some more for a while. Maybe not too much before rising again? Or maybe it will drop dead. Who knows.

In any case, it is wasting a lot of electricity, and the money has to come from somewhere. For everyone winning there must be someone else losing. So... it's not a magical way of creating wealth out of nothing. It's a bubble (or lots of them [so many cryptocurrencies in existence now...]) - which have just popped quite a bit.

Maybe some cryptocurrencies will be worth much in the future for reasons better than pure hype and greed-driven speculation, but it's hard to tell which. Maybe the recent bubble-popping will let some reason and sanity trickle in to help develop technologically superior and more efficient crypto money [that should be better than Bitcoin, which has become worse than useless during much of the recent months as a method of payment - with ridiculous delays and horrendous fees for transactions, due to its inefficiency and wasteful energy consumption]. But I think without understanding the technology in depth and knowing the roadmap for future developments it's all gambling and potentially very wasteful.

If you have enough to spare, you can of course put some money in and hope to get lucky. But having started gambling, it can be hard to stop. The Buddha mentioned it as one cause of a man's downfall.

If you think about it as a way of helping you pay already existing debts (as I did... and making even more debts that way) then I think that's a very bad idea.

mario92
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Location: My house

Re: Digital Money

Post by mario92 » Mon Feb 05, 2018 11:32 pm

:goodpost: thank you Perkele :) for giving the experience.
Good morning, have a nice day

perkele
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Re: Digital Money

Post by perkele » Tue Feb 06, 2018 12:09 am

mario92 wrote:
Mon Feb 05, 2018 11:32 pm
:goodpost: thank you Perkele :) for giving the experience.
You're welcome. :)

(Of course I have no idea how things will develop. So far it has always turned out to be good that no one actually listened to my financial advice. :broke: )

chownah
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Re: Digital Money

Post by chownah » Tue Feb 06, 2018 3:07 am

If you admit to yourself that you don't know what you are doing and don't really know how to invest in digital money and you just pick one then it is gambling.

If you don't admit to yourself that you don't know what you are doing and don't really know how to invest in digital money and you just pick one then it is foolishness.
chownah

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DooDoot
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Re: Digital Money

Post by DooDoot » Tue Feb 06, 2018 3:53 am

Bitcoin appears to be a Ponzi scheme because it has no inherent value. It is the same a printing money out of thin air. It is the same as deciding to use rocks or shells as currency. If 1 million different types of crypo-currency are created, obviously there will be a loss of value based on the law of supply & demand because to retain its value there must be a finite supply of crypo-currency. In my opinion, it is both gambling & a Ponzi scheme (deceiving others), where the losers ends up holding the worthless Bitcoin. Promoting credit card use is also non-dhammic because the Buddha compared debt to slavery. Since you yourself have debt (which is suffering to you), why would you work to indebt others?

In this video, this promoter of Bitcoin (who bought it at $5 or similar; I found his videos for other reasons than Bitcoin) says at 4:00 minutes he advised his subscribers over the last two months to "take profits". This means they made millions, even billions of dollars, from selling to other people who have now lost 50% of their money. The irony is he condemns ordinary money ("fiat trash") but probably sold his Bitcoins in exchange for ordinary money. Money junkies, like this man, cannot help boasting about now being "cashed up" from profits; never acknowledging their profits were made from naive people who bought their over-valued & potentially worthless Bitcoin. I think you should ask yourself why some countries, like South Korea and maybe China, are banning Bitcoin.


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LG2V
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Re: Digital Money

Post by LG2V » Tue Feb 06, 2018 11:25 am

DooDoot wrote:
Tue Feb 06, 2018 3:53 am
Bitcoin appears to be a Ponzi scheme because it has no inherent value. It is the same a printing money out of thin air. It is the same as deciding to use rocks or shells as currency. If 1 million different types of crypo-currency are created, obviously there will be a loss of value based on the law of supply & demand because to retain its value there must be a finite supply of crypo-currency. In my opinion, it is both gambling & a Ponzi scheme (deceiving others), where the losers ends up holding the worthless Bitcoin. Promoting credit card use is also non-dhammic because the Buddha compared debt to slavery. Since you yourself have debt (which is suffering to you), why would you work to indebt others?

In this video, this promoter of Bitcoin (who bought it at $5 or similar; I found his videos for other reasons than Bitcoin) says at 4:00 minutes he advised his subscribers over the last two months to "take profits". This means they made millions, even billions of dollars, from selling to other people who have now lost 50% of their money. The irony is he condemns ordinary money ("fiat trash") but probably sold his Bitcoins in exchange for ordinary money. Money junkies, like this man, cannot help boasting about now being "cashed up" from profits; never acknowledging their profits were made from naive people who bought their over-valued & potentially worthless Bitcoin. I think you should ask yourself why some countries, like South Korea and maybe China, are banning Bitcoin.


Bitcoin is not a ponzi scheme. Traditional bankers are wary of it because it is so disruptive to the traditional monetary system, in which a select few use banks to hoard money while the state coerces individuals to follow their sham of a financial system. The dollar has dropped 95% in value over the past 100 years. It doesn't have any inherent backing besides the US government saying, "It's this much because I say so". That's a ponzi scheme.

Even given this current downtrend, if you would have invested in bitcoin at the start of 2017, you would still be looking at about a 1000% return. The reason that the initial returns are so great is that this is a new industry; it's The Wild West. The massive exponential growth has mostly hurt new investors who invested at the top. With that being said, Bitcoin is being more widely adopted and the technology isn't going to go away, which means that prices are likely to rise again. This isn't the first time that bitcoin has had a massive drop in price like this, and after all of those other such times, it rallied to much higher prices. It has yet to attain true mainstream adoption.

With that being said, I don't like Bitcoin specifically. In fact, I think that it's outdated and not as useful when compared to other, newer cryptocurrencies such as Ethereum. It did popularize blockchain technology, though. Blockchain technology will revolutionize the financial industry, as well as every other industry. Many of these cryptocurrencies are not currencies, but rather, they are novel, decentralized technological breakthroughs in their respective industries (finance, entertainment, privacy, computing, retail, etc).

To call this a ponzi scheme would be like calling the internet a ponzi scheme back in the 1990's. It's a misguided notion; sure, current prices are somewhat speculative due to the newness of the technology, but the inherent value is there, and it's quite obvious to many, despite the inability of older, industrial investors to see it.

It's the first technology in modern history to make banks and other third parties completely unnecessary. There's no way that such a technology is just going to come and vanish.

One of the reasons that Paul Krugman (A Nobel Prize Winnter) is giving this advice is because it's well known that the cryptocurrency market rises in December and dips in mid-January, around the time that Asian investors withdraw money to pay for their lunar new year holidays. This price decrease is annual and predictable, although to be fair, this is the worst that it has been out of any year.

China is banning bitcoin because it's an Orwellian state that is wary of the freedom that blockchain technology provides. South Korea is only adding regulations to cryptocurrencies, not banning them. Cryptocurrencies disrupt the financial system, and thus many governments will have an interest in either regulating or stopping it. Will that stop it? I doubt it. For example, Russia just legalized cryptocurrencies.

I won't go so far as to say that Buddha advocated for cryptocurrency, but I will say that I liken such an investment to planting a seed that bears fruit. I consider it a wise decision, and I would consider any profits gained by patience to be the fruition of wholesome kamma. The stock market has run a similar model for a century, and it has been profitable for most, despite having natural cycles of rising and falling.
Here are some excellent sites for giving free Dana (Click-Based Donation):
http://freerice.comhttp://greatergood.com/www.ripple.orgwww.thenonprofits.com

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DooDoot
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Re: Digital Money

Post by DooDoot » Tue Feb 06, 2018 12:10 pm

LG2V wrote:
Tue Feb 06, 2018 11:25 am
Bitcoin is not a ponzi scheme. Traditional bankers are wary of it because it is so disruptive to the traditional monetary system, in which a select few use banks to hoard money while the state coerces individuals to follow their sham of a financial system.
It started at 4 cents or 8 cents. As a prevention against the "sham", i.e., a "hedge" or "alternative", it can't be that valuable, regardless of how disruptive it is. As I posted, it might be a very useful but the greater supply of crypo-currencies, regardless of how perfect they are, the less they will be worth because they are merely mediums of exchange.
The dollar has dropped 95% in value over the past 100 years. It doesn't have any inherent backing besides the US government saying, "It's this much because I say so". That's a ponzi scheme.
Sure. I won't disagree there. But Bitcoin dropped 50% in value over the last month, which is a lot worse than dropped 95% in value over the past 100 years.
Even given this current downtrend, if you would have invested in bitcoin at the start of 2017, you would still be looking at about a 1000% return.
If you invested in Bitcoin last month, you would be looking at a 50% loss, i.e., 5000% of that former return. I know shares that gained 3,000% since the start of 2017, which were relatively straightforward investments in actual valuable assets. When these companies are eventually taken over for their assets, every investor, whether from 1 cent or from 30 cents will not lose their money because the assets have genuine value, worth & utility. Everyone is a winner; just like the majority of Apple Inc shareholders are winners.
The reason that the initial returns are so great is that this is a new industry; it's The Wild West. The massive exponential growth has mostly hurt new investors who invested at the top. With that being said, Bitcoin is being more widely adopted and the technology isn't going to go away, which means that prices are likely to rise again. This isn't the first time that bitcoin has had a massive drop in price like this, and after all of those other such times, it rallied to much higher prices. It has yet to attain true mainstream adoption.
The more cryptos, the less their value. Supply & demand.
With that being said, I don't like Bitcoin specifically. In fact, I think that it's outdated and not as useful when compared to other, newer cryptocurrencies such as Ethereum. It did popularize blockchain technology, though. Blockchain technology will revolutionize the financial industry, as well as every other industry. Many of these cryptocurrencies are not currencies, but rather, they are novel, decentralized technological breakthroughs in their respective industries (finance, entertainment, privacy, computing, retail, etc).
I heard Blockchain is not necessarily crypto. Blockchain has many uses.
To call this a ponzi scheme would be like calling the internet a ponzi scheme back in the 1990's. It's a misguided notion; sure, current prices are somewhat speculative due to the newness of the technology, but the inherent value is there, and it's quite obvious to many, despite the inability of older, industrial investors to see it.
Crypto is obviously not a technology, like the internet or like Blockchain.
It's the first technology in modern history to make banks and other third parties completely unnecessary. There's no way that such a technology is just going to come and vanish.
You have now moved from currency to technology. I have no issues with the "technology". Its the "currency" as a measure of value I have issues with.
China is banning bitcoin because it's an Orwellian state that is wary of the freedom that blockchain technology provides. South Korea is only adding regulations to cryptocurrencies, not banning them. Cryptocurrencies disrupt the financial system, and thus many governments will have an interest in either regulating or stopping it. Will that stop it? I doubt it. For example, Russia just legalized cryptocurrencies.
Of course they might disrupt the financial system because in a proper financial system there should only be a certain amount of money supply. In addition, any medium of exchange must have stability in its value to function as a medium of exchange. For example, a seller of 10 bananas for 1 bitcoin must have certainty & trust that the 1 bitcoin can buy another 10 bananas. Otherwise, it ends up like post-WW1 Germany, where people rushed out to the shops on pay-day in the hope their pay for the last week would not lose value. If Bitcoin is regarded as an "investment", who would want to part with it by using it as a medium of exchange, given an investment is something "held" rather than readily exchanged. For example, in a falling market, who would accept Bitcoin for payment? In a rising market, who would use Bitcoin as a payment, since next week, 1 bitcoin might be worth 20 bananas instead of 10 bananas. Any country that cares about people would ban Bitcoin, just like many countries who care about people ban stock market short-selling or real estate negative gearing.
I won't go so far as to say that Buddha advocated for cryptocurrency, but I will say that I liken such an investment to planting a seed that bears fruit. I consider it a wise decision, and I would consider any profits gained by patience to be the fruition of wholesome kamma. The stock market has run a similar model for a century, and it has been profitable for most, despite having natural cycles of rising and falling.
The stock market is a mechanism for raising capital & trading ownership of real businesses engaged in real productive economic activities; thus a mechanism for "investments". Bitcoin is merely a medium of exchange that can be reproduced many times over; similar to printing money.

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LG2V
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Re: Digital Money

Post by LG2V » Wed Feb 07, 2018 2:12 am

DooDoot wrote:
Tue Feb 06, 2018 12:10 pm
LG2V wrote:
Tue Feb 06, 2018 11:25 am
Bitcoin is not a ponzi scheme. Traditional bankers are wary of it because it is so disruptive to the traditional monetary system, in which a select few use banks to hoard money while the state coerces individuals to follow their sham of a financial system.
It started at 4 cents or 8 cents. As a prevention against the "sham", i.e., a "hedge" or "alternative", it can't be that valuable, regardless of how disruptive it is. As I posted, it might be a very useful but the greater supply of crypo-currencies, regardless of how perfect they are, the less they will be worth because they are merely mediums of exchange.
The dollar has dropped 95% in value over the past 100 years. It doesn't have any inherent backing besides the US government saying, "It's this much because I say so". That's a ponzi scheme.
Sure. I won't disagree there. But Bitcoin dropped 50% in value over the last month, which is a lot worse than dropped 95% in value over the past 100 years.
Even given this current downtrend, if you would have invested in bitcoin at the start of 2017, you would still be looking at about a 1000% return.
If you invested in Bitcoin last month, you would be looking at a 50% loss, i.e., 5000% of that former return. I know shares that gained 3,000% since the start of 2017, which were relatively straightforward investments in actual valuable assets. When these companies are eventually taken over for their assets, every investor, whether from 1 cent or from 30 cents will not lose their money because the assets have genuine value, worth & utility. Everyone is a winner; just like the majority of Apple Inc shareholders are winners.
The reason that the initial returns are so great is that this is a new industry; it's The Wild West. The massive exponential growth has mostly hurt new investors who invested at the top. With that being said, Bitcoin is being more widely adopted and the technology isn't going to go away, which means that prices are likely to rise again. This isn't the first time that bitcoin has had a massive drop in price like this, and after all of those other such times, it rallied to much higher prices. It has yet to attain true mainstream adoption.
The more cryptos, the less their value. Supply & demand.
With that being said, I don't like Bitcoin specifically. In fact, I think that it's outdated and not as useful when compared to other, newer cryptocurrencies such as Ethereum. It did popularize blockchain technology, though. Blockchain technology will revolutionize the financial industry, as well as every other industry. Many of these cryptocurrencies are not currencies, but rather, they are novel, decentralized technological breakthroughs in their respective industries (finance, entertainment, privacy, computing, retail, etc).
I heard Blockchain is not necessarily crypto. Blockchain has many uses.
To call this a ponzi scheme would be like calling the internet a ponzi scheme back in the 1990's. It's a misguided notion; sure, current prices are somewhat speculative due to the newness of the technology, but the inherent value is there, and it's quite obvious to many, despite the inability of older, industrial investors to see it.
Crypto is obviously not a technology, like the internet or like Blockchain.
It's the first technology in modern history to make banks and other third parties completely unnecessary. There's no way that such a technology is just going to come and vanish.
You have now moved from currency to technology. I have no issues with the "technology". Its the "currency" as a measure of value I have issues with.
China is banning bitcoin because it's an Orwellian state that is wary of the freedom that blockchain technology provides. South Korea is only adding regulations to cryptocurrencies, not banning them. Cryptocurrencies disrupt the financial system, and thus many governments will have an interest in either regulating or stopping it. Will that stop it? I doubt it. For example, Russia just legalized cryptocurrencies.
Of course they might disrupt the financial system because in a proper financial system there should only be a certain amount of money supply. In addition, any medium of exchange must have stability in its value to function as a medium of exchange. For example, a seller of 10 bananas for 1 bitcoin must have certainty & trust that the 1 bitcoin can buy another 10 bananas. Otherwise, it ends up like post-WW1 Germany, where people rushed out to the shops on pay-day in the hope their pay for the last week would not lose value. If Bitcoin is regarded as an "investment", who would want to part with it by using it as a medium of exchange, given an investment is something "held" rather than readily exchanged. For example, in a falling market, who would accept Bitcoin for payment? In a rising market, who would use Bitcoin as a payment, since next week, 1 bitcoin might be worth 20 bananas instead of 10 bananas. Any country that cares about people would ban Bitcoin, just like many countries who care about people ban stock market short-selling or real estate negative gearing.
I won't go so far as to say that Buddha advocated for cryptocurrency, but I will say that I liken such an investment to planting a seed that bears fruit. I consider it a wise decision, and I would consider any profits gained by patience to be the fruition of wholesome kamma. The stock market has run a similar model for a century, and it has been profitable for most, despite having natural cycles of rising and falling.
The stock market is a mechanism for raising capital & trading ownership of real businesses engaged in real productive economic activities; thus a mechanism for "investments". Bitcoin is merely a medium of exchange that can be reproduced many times over; similar to printing money.
Cryptocurrencies, of which bitcoin is one of the oldest and least useful, are here to stay. They’re not a ponzi scheme or a scam. I think that most of your points aren’t really points at all; they’re misunderstandings of what cryptocurrencies are and how they work.

The term crypto is virtually synonymous with blockchain; cryptocurrencies are the primary drivers and implementations of this technology. Traditional companies such as J.P. Morgan (whose CEO once called it a ponzi scheme) look to cryptocurrency experts, such as the experts in ZCash, in order to implement their own blockchain solutions.

With that being said, I would like to delineate the two types of cryptos: 1.) cryptocurrencies that can actually be used for financial transactions, such as Bitcoin, Ethereum, ZCash, NEO, and Monero; and 2.) cryptos whose tokens are primarily used as a utility system for that particular blockchain ecosystem, such as Golem, Storj, Civic, and Dent.

Cryptocurrencies are advantageous because they eliminate the need for banks, third parties, and their associated fees; they enable instant payments anywhere; their networks are hacker-proof, because of their decentralized consensus model; they enable private purchases and prevent fraud, among other reasons.

And bitcoin is the oldest, slowest, and least effective out of the bunch. There are several of these coins that have the 3000% gains you mentioned, even in this current market downturn. And a lot of them offer real value. Unlike the dollar, the vast majority of these cryptocurrencies have a limited supply, so their prices are deflationary, and not inflationary. This is why their value has increased so much. The transactions made in these currencies are recorded in an unchangeable blockchain, and no one can print more of the money and alter the price at a whim.

They’re quite the safe bet. There are multiple fiat currencies, such as the dollar, franc, yuan, ruble, and peso. Similarly, or not so similarly, there are multiple cryptocurrencies. And many of them do different things from one another. Ethereum helps power smart contracts on the blockchain. ZCash and Monero can mask your transactions from prying eyes. They’re not all competing for the exact same space, and even if they were, there’s plenty of room to go around. Several trillion dollars’ worth. These currencies are candidates to dethrone fiat. Heck, even governments are considering making their currencies go crypto.


Beyond this, there are companies that use cryptocurrency and blockchain technology to power their companies and revolutionize their respective industries. These companies use blockchain-based utility token that are usually based off of a larger cryptocurrency such as Ethereum or NEO.

This technology gives novel approaches to conventional businesses. For example, some companies pay users to watch videos, and other companies can now pay artists 100% of their sales because of their blockchain-based business methods. Other companies sell data, or allow you to earn tokens based on hosting a masternode for their decentralized network. Some are used to buy/sell data and computing power. One of them is used to buy cellular data from telecom companies. Several allow people without banks to have an online verified identity, or even banking and credit. Many of these companies allow you to have governance and voting rights based on the amount of tokens that you hold, like a traditional stock company. These companies are engaged in, or at least intend to engage in, productive activities. Blockchain completely changes the face of a lot of businesses, and while many of these approaches are new and will either fail, be modified, or succeed, there is real value to using and investing in them.

During the dotcom bubble crash back in 2000, many tech companies, such as Apple, lost around 80% of their value in a very short time after a huge rally. Were they ponzi schemes or inherently bad? No. They just suffered from overspeculation. Years later, Apple is the world’s most valuable company, after experiencing a downfall that is similar to Bitcoin’s current troubles.

The prices are quite volatile right now. So, Bitcoin could buy 100 bananas in the past, and it could probably buy 100,000 now. I’d try to sell my bananas ASAP to get in on the good deal. That’s the benefit of deflationary currency. The same for rocks and shells. The value of Bitcoin and other cryptocurrencies are determined by market prices; supply and demand. What makes it even better is that it’s not subject to the control of any single state or party.

Fiat isn’t inherently safe; just look at the currencies of Venezuela and Zimbabwe for an example of fiat at its worst. Their loss of value is an accelerated version of what has been happening to the dollar over the years. I would rather invest in an asset that gains value over the years instead of one that loses value.

That's just my opinion. I'm not an economics expert. Just an amateur investor. :D
Here are some excellent sites for giving free Dana (Click-Based Donation):
http://freerice.comhttp://greatergood.com/www.ripple.orgwww.thenonprofits.com

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