Ja...Ok...so I Invest in BTC hang on then sell.....Show me the money...as the film says.....or...how is my purchasing power redeemed so I can go to the supermarket, buy a car etc....of course in the interim pre-apocalypse zone. Since fiat is still a small person's fantasy.. I would much rather have my wealth invested in crypto currencies (even with a temporary 50% drop in price) rather than in a pension fund that won't be there when I need it. Just one guy's opinion.
I'm using Bitcoin for retirement and to get my money out of the banking system and also to grow my nest egg. You want to use Bitcoin for cash purchases at the supermarket and I think it's too valuable for that. It's like taking your $20 1930 gold piece and plunking down at the supermarket to buy your groceries. You can certainly do that if you want to. I wouldn't do it even if they converted the 1oz gold coin to $1900 USD because I know gold will be worth more in a year or two. When people spend money, they always use their most worthless currency, the one that is depreciating the most. In Venezuela where they have high inflation (if you consider 1 million percent inflation considered high) they use their local Bolivar currency for purchasing food at the local market and hoard U.S. dollars because the US dollar keeps increasing in value wrt the Bolivar.Ja...Ok...so I Invest in BTC hang on then sell.....Show me the money...as the film says.....or...how is my purchasing power redeemed so I can go to the supermarket, buy a car etc....of course in the interim pre-apocalypse zone. Since fiat is still a small person's fantasy.
Obviously, nobody goes with a gold ingot to buy bread.Ja...Ok...so I Invest in BTC hang on then sell.....Show me the money...as the film says.....or...how is my purchasing power redeemed so I can go to the supermarket, buy a car etc....of course in the interim pre-apocalypse zone. Since fiat is still a small person's fantasy.
Question for those who have a better idea about these things than I....
I bought a bitcoin ages ago for just a few ££ just to play about with it and see how it worked. I have about half of it left. Same with Eth which I have 30 of. Effectively I'm up one heck of a lot of money for almost no outlay so if (when) prices drop I'll still be way up.
Should I hold on a little longer or take the cash and run?
...
And when sending Bitcoin from one wallet address to another double check that the address you are sending it to is indeed a Bitcoin address. When sending Ethereum make sure you are sending it to an Ethereum address. Example: If you send 500 Bitcoins to an Ethereum address, which is easy enough to do, you lose you Bitcoins. They are unrecoverable. Always triple check the addresses and it is always advisable to send a small amount of Bitcoin ($10) at first, to make sure it gets there to the destination wallet. Then send the remaining Bitcoins to the same address.
Hope this helps.
Hello @Diceman,
I agree with you that this might be a good time to hedge against a currency collapse. I'm in the USA and just sat through the Capital Building Storm. There is a lot of evidence that the violence was caused by Antifa and BLM protesters brought in, not Trump supporters – if that is true it might indicate even more instability.
A couple years ago I started playing with mining crypto currencies. I joined a web place, don't remember the name, that had a forum, support, and was geared toward newbies. I guess I asked too many probing questions, because I was banned for life.
I asked how to set up a wallet that would be completely under my control. They wanted you to use their website wallet, but I saw in the forum that several users currency magically disappeared once they accumulated a little.
I asked how to convert the crypto currency to dollars.
The stuff I asked was newbie, getting started, "nuts and bolts", stuff.
Can you recommend a place where I can learn about getting my own wallet, transferring between wallets, buying a currency, converting to dollars. I saw your post about debit cards – that was very helpful.
At the time I had several super PC type computers running 24 hours a day for a week. I mined a couple pennies worth. I found specialized hardware, but it was expensive and seemed to require its own power plant to operate. With its three-month shipping lead-time, it might be too underpowered to be profitable when it arrived.
Thanks,
Barry.
almost doubled in less than 1 month
price today 38.249$
(on 22.12.20 it was around 23k)
Yeah, Bitcoin has gone parabolic since it left 10k last fall. Newbies should wait until the price falls back to the 20 weekly Moving Average (red line) and bounces off of it.
How do we track it for those moments?
Do you have a newsletter?!
That's the one I useTradingView
depends on the rate of inflation - after the WW2 german people bought bread with wheelbarrows of cashObviously, nobody goes with a gold ingot to buy bread.
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