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ChewChewTrain 11-21-2017 04:41 PM

Cryptocurrency / Bought my first
 
Because they can do it with zero objection, governments print money to pay their debts.

Other countries are currently detaching the US dollar from the Petro Dollar. The "air", so to speak, is being slowly let out of the US dollar. It and other fiat currencies are growing more worthless daily.

The USA prints $$$ to fund its endless wars. That alone is disgusting.

Compared to the COMBINED top ten military spenders, the USA spends 8x as much $$$.

The USA fights countries that can NOT fight back. That's cowardly. The USA is the "school yard bully".

Anyways, two days ago, I just bought 5 Ethereum coins at $358 each.

Bitcoin is currently at US$8,000+ per coin.

Bitcoin is having technical problems with transactions taking a lot of time to close. Nonetheless, pundits feel Bitcoin will go to US$500,000 each by 2020.

Two pundits feel Ethereum will surpass the Bitcoin's value, because of technical differences too difficult to describe here.

Anyone else into crytos? How long? And, if you don't mind, how invested?

JockoT 11-21-2017 09:09 PM

Cryptocurrency is the realm of organised crime, Russian oligarchs and others with money to hide. Good luck to you.

R.I.D.E. 11-22-2017 03:33 AM

I have a few pounds of silver. If cryptocurrency is a promissory note then they are waaaaayyyyyyyy late to the game. I did find a 1799 US penny at an antique shop, so corroded the date was not legibile, some 2000 grit and oil and it became visible. So rare a MS 61 example, the only mint state ever found, sold for just under a million dollars of useless fiat currency. Mine should be worth around $3K, not bad for 15 bucks.

Draigflag 11-22-2017 03:46 AM

I was always told cleaning coins devalues them significantly. We found a coin from 1565 in our garden, was pretty cool, couldn't see the king or Queens Head, but could clearly see the date and a shield on the face (similar to one below) Wasn't worth much, although my dad had a collection of roman coins from a few thousand years ago, they were pretty neat.

Don't invest in much myself, this year it's been my social life, the return being hysterical memories and deep friendships that will last a lifetime. Worth every penny ;)

http://www.leodishammeredcoins.co.uk...2561-L7854.jpg

R.I.D.E. 11-22-2017 05:49 AM

It was sold for $15 with date listed as "unidentifiable" (1796-1807). It's value in that condition was what I paid for it. What I did, to a very corroded-dug up from the ground after 100 years or so coin, made the date readable which determines the value based on the visible date, regardless of condition, the 1799 penny is considered the rarest of the rare.

http://www.pcgscoinfacts.com/Coin/Detail/1443

luv2spd 11-22-2017 02:26 PM

Back in 2012 I was thinking about investing in Bitcoin when it was worth the same as one dollar, but I invested in potash mining instead. Potash mining didn't change much in value and I even lost some money when I sold my shares, but if I had invested in Bitcoin instead then I would be a millionaire by now. I'm still thinking about buying some Bitcoin, I think it will replace all currency eventually. I heard great things about Darknet, but I never been on it yet; there is also a lot of illegal activity going on that is not traceable. In the beginning it was mainly Russians that used Bitcoin on Darknet, which gave the digital currency a bad name.

I believe that paper money became worthless when they started putting "legal tender" on it; and the governments printing more money and manipulating the market like China doesn't help it either. Bitcoin isn't perfect either, every transaction ever done has to be stored as data, which takes a huge amount of processing power and storage space as time goes on; but at least there is no inflation with Bitcoin. I think it's still the future and eventually it will replace the current paper money system.

JockoT 11-22-2017 09:11 PM

Quote:

Originally Posted by luv2spd (Post 197040)
I think it's still the future and eventually it will replace the current paper money system.

I think some sort of digital currency will be the future of commerce, but a regulated system. As it is at the moment, anyone can start a digital currency.

ChewChewTrain 11-23-2017 10:37 AM

Quote:

Originally Posted by R.I.D.E. (Post 197030)
I have a few pounds of silver. If cryptocurrency is a promissory note then they are waaaaayyyyyyyy late to the game. I did find a 1799 US penny at an antique shop, so corroded the date was not legibile, some 2000 grit and oil and it became visible. So rare a MS 61 example, the only mint state ever found, sold for just under a million dollars of useless fiat currency. Mine should be worth around $3K, not bad for 15 bucks.

VERY cool! I'm so happy for you, Gary! SCORE!

Where/how do you invest?

ChewChewTrain 11-23-2017 11:02 AM

Quote:

Originally Posted by Draigflag (Post 197031)
I was always told cleaning coins devalues them significantly. We found a coin from 1565 in our garden, was pretty cool, couldn't see the king or Queens Head, but could clearly see the date and a shield on the face (similar to one below) Wasn't worth much, although my dad had a collection of roman coins from a few thousand years ago, they were pretty neat.

Don't invest in much myself, this year it's been my social life, the return being hysterical memories and deep friendships that will last a lifetime. Worth every penny ;)

http://www.leodishammeredcoins.co.uk...2561-L7854.jpg

Paul, on a podcast, I heard about someone that gives away Roman coins as a conversation starter, so to speak. Why aren't these coins worth a lot?

ChewChewTrain 11-23-2017 11:07 AM

Bought Ethereum at US$358 per coin four days ago. It's now US$420.

That's it! I'm selling my sports car, which I drive so infrequently, to buy more coins.


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