Bitcoin and other Crypto...

[Red Phoenix]

23 minutes ago, Red Shift said:

I can’t see it making any difference to be honest, unless it’s accepted as an Income Tax payment. Calling it a legal currency is one thing, accepting it for Taxation is quite another.

 

The main thing I'm thinking of is all of the people that have been buying crypto so far, it could give a lot of confidence that crypto could actually be accepted in other countries around the world eventually and give it a huge boost, as well as the population of El Salvador actually buying it to freely use. I have no idea of how it'll work long term though because there'll probably have to be a good bit more than one country for things to really start moving.

 

23 minutes ago, Red Shift said:

I spend crypto freely in the high street, but I’m reluctant to do it in large amounts, in case the next round of volatility sees me miss out on big gains. Therein lies the problem with crypto, and frankly I’m amazed that El Salvador's going to play with fire by taking BTC as currency. It’s a foolish statement to make.

 

I'm amazed too, even to the point of being a bit suspicious of it. Again I'm not pretending I have any real idea what's going on but it's a big risk to be taking and all types of things could go wrong including the negative interference of other countries which will be out of the control of El Salvador. I'm just going to hope other countries start seriously looking at doing the same if it's accepted as a currency and it works out well enough. I don't like the idea of all of that pressure being focused on one country.

 

23 minutes ago, Red Shift said:

Me? I hold it, spend some of it, but accept that my dream of a decentralised global currency in the public domain, free of greedy fucking banksters, that will bring financial security to billions of hopeless helpless human beings, could in fact be pie in the sky.

 

Same mostly, I only hold it but I accept that it could all go wrong and/or never turn out like many of us hope. We know what govs and banksters are capable of to various extents to keep hold of their control over money so it's never going to be easy.

[Gnasher]

Anyone for El Salvador?

 

 

 

[Numero Veinticinco]

No ta 

[Red Phoenix]

I can't believe they actually fucking did it! That was fast.

[TheHowieLama]

9 minutes ago, Numero Veinticinco said:

No ta 

Exactly.

[Red Phoenix]

The state of the fucking BBC :

 

Quote

On Twitter, some financial and legal observers described the law change as a remarkable accomplishment and a game changer, while others raised concerns about the cryptocurrency's volatility. Experts have warned it could also complicate matters with the International Monetary Fund (IMF), where El Salvador is seeking a more than $1 billion programme.

The Congress vote happened on the same day that former US President Donald Trump said he saw Bitcoin as a "scam".

"I don't like it because it's another currency competing against the dollar," he told Fox Business.

He added that he wanted the dollar to be "the currency of the world".

 

https://www.bbc.co.uk/news/world-latin-america-57398274

 

"Experts" and Donald Trump.

 

[skend04]

So a country where crime is rife and is 

one of the routes into the US for cocaine and people smuggling, confirms untraceable coins as a currency. Something smells fishy to me.

 

 

[Lario]

1 minute ago, skend04 said:

So a country where crime is rife and is 

one of the routes into the US for cocaine and people smuggling, confirms untraceable coins as a currency. Something smells fishy to me.

 

 

Bitcoin is traceable though.

 

If you want untraceable, you'd need to find a real Haven.

[skend04]

8 minutes ago, Lario said:

Bitcoin is traceable though.

 

If you want untraceable, you'd need to find a real Haven.

Is it?

Damn. Anyone told El Salvador this?

[Gnasher]

If you want to buy a coffee in El Salvador it'll cost you 0.0006 bitcoin, or something like that.

 

 

 

[Captain Turdseye]

Waiting for that point of time to go ALL IN on this. 
 

Anyone know when that is?

[Gnasher]

6 minutes ago, Captain Turdseye said:

Waiting for that point of time to go ALL IN on this. 
 

Anyone know when that is?

I'm trying to hire a bus to El Salvador as we speak, I'm planning to get hold of the bitcoin by source and send it to Britain disguised as cocaine.

[TheHowieLama]

20 minutes ago, Captain Turdseye said:

Waiting for that point of time to go ALL IN on this. 
 

Anyone know when that is was?

 

[Lario]

Apparently all vendors in El Salvador, within 90 days, have to accept Bitcoin for transactions!

[Gnasher]

Have a bit of this Musky

 

 

[Red Shift]

5 hours ago, Gnasher said:

If you want to buy a coffee in El Salvador it'll cost you 0.0006 bitcoin, or something like that.

 

 

 

Cost me BTC 0.0000898 the other day. So, no I’ll stick to my backwater.

[Red Shift]

Bitcoin rallies by 10% in 24 hrs. 

[Gnasher]

 

 

 

[Red Shift]

Looks like Wirex’s network is already partially set up for El Salvador, I’d say this adoption has been going on behind the scenes for a while.

 

https://wirexapp.com/help/article/the-list-of-supported-countries-0027

[Ne Moe Imya]

6 hours ago, Red Phoenix said:

The Congress vote happened on the same day that former US President Donald Trump said he saw Bitcoin as a "scam".

[Red Shift]

 

 

 

[Davelfc]

1 hour ago, Ne Moe Imya said:

Trump is the worst person he knows, he obviously doesn't get out a lot. 

[Gooch]

On 08/06/2021 at 15:52, Red Phoenix said:

 

I've rarely looked at his page but he hasn't seemed that bad from the bit that I've read. Had a look around for him scamming and found this, is it what you meant? https://www.cryptovantage.com/news/popular-crypto-analysts-deleting-shill-tweets-amid-market-dump/

 

The article links to a few tweets (here) he posted with him giving a reason for why he deleted supposed shill tweets so maybe he learnt from that, not sure if you meant something else though. Either way I'd never buy a coin just because one person said so without looking up info on it first in several other places so I'm hopefully less likely to fall for any scam him or anyone else could be taking part in when it comes to shilling.

 

It's good to know of that article and his response though because I didn't know of it so thanks for helping me find it.

Yeah, he's been knee deep in dumping these IDO's on his followers whilst telling them to buy the dip etc. The space is absolute rife with snake oil salesman like him who present a 'professional' front to an extent and are just looking to milk people because they can barely trade the market. Cobie (who incidentally is 100% worth a follow, very knowledgable) in that tweet link has been tearing him a new one over it for a while.

 

Understand that you won't, just thought worth mentioning as people like that will do more harm than good long run and best to just steer clear regardless. Twitter has been an unbelievably helpful resource to help learn about this type of stuff if you follow the right people, but it is absolute rife with grifters as well. Been hanging around long enough to have reasonable barometer of who is full of shit and who isn't, it's not always easy to tell.

 

[Red Phoenix]

42 minutes ago, Gooch said:

Yeah, he's been knee deep in dumping these IDO's on his followers whilst telling them to buy the dip etc. The space is absolute rife with snake oil salesman like him who present a 'professional' front to an extent and are just looking to milk people because they can barely trade the market. Cobie (who incidentally is 100% worth a follow, very knowledgable) in that tweet link has been tearing him a new one over it for a while.

 

Understand that you won't, just thought worth mentioning as people like that will do more harm than good long run and best to just steer clear regardless. Twitter has been an unbelievably helpful resource to help learn about this type of stuff if you follow the right people, but it is absolute rife with grifters as well. Been hanging around long enough to have reasonable barometer of who is full of shit and who isn't, it's not always easy to tell.
 

 

I can definitely imagine twitter being crazy with scammers, would've probably been more familiar with what was going on there if I still had an account and used the site often. I'll make sure to remember seeing this though and be wary of anything he's saying if I end up back at his page again.

 

After a while I got fairly settled with the coins I had too before reducing to what I have now, so if I do spend money on this again in the future it'll probably be FOMO'ing back into a few that I let go of mostly. This thread and the main cryptocurrency reddit have been fine so far too so there's not usually been a need to go looking for what others are saying so much.

[Gnasher]

https://www.forbes.com/sites/jonathanponciano/2021/06/07/bitcoins-biggest-backer-expects-285-million-loss-after-crypto-crash-but-wants-to-raise-400-million-in-debt-to-buy-more/