Crypto currency club
 

Hi Everyone,

I put in a request with the Villages recreation department to create a crypto currency club. It was in the paper this week and rec center says I will need a certain number of members to get official approve.

This club will be designed for people with all levels of experience, beginners, those active in the market and if we get lucky we might even get one or two experts.

Feel free to reach out to me at dtodd@earls.ca if you would be interested in joining the club or learning more.

Cheers,

Dylan

interested

My opinion, it might make sense to do a presentation at one of the already established clubs.

I do not hold any crypto currency. Truth I see no need. Reminds me of the insane rise in the price of Tulip bulbs roughly 300 years ago. A classic Ponzi Scheme. Some people did make money in Tulip Bulbs. When the bottom fell out some discovered they had little or no value. Paying bills with it? The value is highly volatile. One day down 12%, Yesterday 8/13/21 up 7%.

Read the story of MIT student that gave undergraduates $100 in Bitcoin a few years ago, and see what it’s worth now. I personally know people who invested heavily in Bitcoin years ago and they are rich today. I guess I was the fool who was too skeptical way back when. But Ethereum has paid me well and I’m thankful.

My opinion, the old line is hindsight is always 20-20. Foresight is far more valuable.
The world is full of opportunities. As what it is worth now, the same thought applies to stuff like Amazon, Apple, Microsoft.

As I stated, my opinion bit coin is ponzi scheme. It is valid to say the US dollar is no longer backed by any real value ie gold or silver. It is sad to read backed by the full faith and credit of the United States. I expect most think that is a depreciating value.
Bitcoin is backed by NOTHING. The creator does not exist. Rumor is it is a man, other rumors a woman and still others a group of people. The value has wild swings. To buy say a car, with bitcoin on a day when the value changes by down 12%. A 30,000 car could cost you 30,000 or 30,000 plus 12% 33,600.

You can make money on anything with wild swings. It is called day trading. Losses, you can deduct, if I recall 3,000. Gains it is all taxed at your highest income tax rate-short term gains and there is no 3,000 limit on taxable gains.

I have a strange view of everything I call it self responsibility. I am interested in learning.
I feel you learn more from people who do not agree with you than from people who do.
Most people only LISTEN to people who agree with them. They do not realize they are talking to themselves.

Bitcoin is a store of value at this point.

If you think crypto is bitcoin, you have no understanding of what crypto is.

Crypto is way way more than bitcoin. It is blockchain. Sure, there are some ponzi tokens and coins, mostly the meme coins, but crypto is much much more than that.

There are coins on their own block chains that allow you to decentralize storage. You can drop a file on Siacoin chain for example and it gets split up and stored all over the world encrypted. 100% unhackable. Yes, 100% unhackable. Now, will quantum computing change that? Maybe, but today, you can securely store files in a fashion that only you can access.

There are chains dedicated to bank to bank transactions. This means that two banks can safely swap funds and have the transaction cleared in minutes rather than days like ACH.

There are thousands of these types of applications, the above are only two.

If you think it's a ponzi scheme, just wait until the US Government launches their own. It's coming. I can't say when exactly, but it could be before the end of this year, certainly within 5 years. It's going to change EVERYTHING.

When uncle fed decides to join the crypto space, everyone who's in it already will see their fortunes grow. Of course, some coins and tokens will go to zero. Others, such as Bitcoin and Ethereum will likely go to the moon.

I purchased 0.5 BTC a couple of years ago, cost me $3250.00. Not a bad investment. There are several other coins that have done even better.

Do your dd.

There is nothing said that is not public information. Block currency. Think about any advantage. Stored value? Endless debate-land, gold, silver, stocks are just a few of them. The block currencies a very volatile. Stored value, at least to me implies stability
relative to other things with,"stored value." Block currency does not have that.

The fed joining crypto space. We all tend to think what we are fed by the news. The fed has been in crypto currency for many years. Of the trillions in circulation. Truth, talk about mind control, how many people realize they do not understand or comprehend might be a better word one trillion dollars let alone the rapidly growing national debt.
Of the words we toss about and repeat with out putting it together. Printing money?
Reality roughly 20% of the dollars even exist as coins, printed paper the rest is simply computer notes.

We are hooked on government. Government is hooked on tax to buy our votes. Our government is struggling to be able to extract a percentage of anything of value.
Reality is truly simple when we dare to see it.

I do not claim to have a better solution. I've recently started e-mailing to someone I knew years ago. He is bright, he is normal at least not NUTS. He and his brother bought 140 acres in North Carolina. I've never seen it. He has a house, a wife, a well, a stream
wild game etc etc. I see that clearly as,"stored value," not block currency.

Re: due diligence
First of all I am reading.
If, you've read through what I've said. Where to put your money, there is no shortage of options.
If, it is an investment and not tossing money down a slot machine. A very important question that is almost never mentioned is when to sell it. I mentioned the tulip bulb madness. People also made money in that. When it failed and it did, there were people holding what was wealth and was suddenly worthless

The OP is only posting that he is intending to start a club. Apparently all The Villages' "experts" posting above are already anxious to audition as presenters at the meetings for the proposed club. :blahblahblah:

What? Speak in sentences This is word salad.

Again, salad.

The Feds are starting their own block chain. It is already in the works. There will be a USDC coin from the fed. It may be as soon as November.

This will change all the clearing house ACH bs, it will help end wire fraud and the list goes on.

That you don't understand it and bloviate on about it, means you simply don't get it. It's moved past you. Crypto is here. It's not going away. All governement money transfers in the future will use some form of block chain tech. Get it yet? Apparently not.

Thanks Jim, there are some thoughtful replies, please note if you want to be invited to the inaugural club meeting and I will send a private message to those who request one.

Cheers,

Dylan

Maybe it would be a good idea for you to join the club. You'll certainly get differing opinions as to the viability of cryptos and thus, a learning experience for you. A forum blog like this isn't really sufficient to discuss cryptos in depth. Join the club and learn. Members may very well learn from you as well.

I look at Bitcoin as an invention of a new type of currency. It's not really created out of thin air. Precious metals need picks and shovels to be found and created into currency. Bitcoin is mined with supercomputers. Both assets are out there. You just need the correct tools to obtain them.

The beauty of bitcoin is it can't be manipulated. Eventually there will be a fixed amount in circulation and there will be no government that can change that. Market forces will dictate it's value. Slowly but surely, it's becoming widely accepted and that's really all that's needed for it to become 'real'.

Agree


If you can stomach the massive swings it’s only going to get more valuable
Never panic sell buy in the dips

Crypto
 

Here is a link my son sent me to explain crypto:

DeFi for Investors: Finding the Next Crypto Unicorn

I am still confused (lol)