Bitcoin and everything associated with it. The home of cryptomaniacs and their adversaries. - page 335

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Here's what I don't understand. They talk about cryptocurrencies being an escape from bank controls. But how can I exchange a manmade cryptocurrency for roubles, for example? Someone has to buy it, right? So, the rubles will be transferred through a chain of bank accounts, all this will be reflected in the accounting entries. Rubles cannot disappear and then suddenly appear. All transactions are controlled. So, inevitably, the exchange of cryptocurrencies into roubles is also controlled. So where does this leave the banking system? Well, okay, you can not immediately exchange into rubles, but through dollars. So the exchange of dollars into rubles is not controlled? More than that. And there's no way to trace where I got those dollars? That doesn't make any sense.
 
Sergey Vradiy:
That's what I don't understand. They talk about cryptocurrencies being an escape from bank controls. But how can I exchange a manmade cryptocurrency for roubles, for example? Someone has to buy it, right? So, the rubles will be transferred through a chain of bank accounts, all this will be reflected in the accounting entries. Rubles cannot disappear and then suddenly appear. All transactions are controlled. So, inevitably, the exchange of cryptocurrencies into roubles is also controlled. So where does this leave the banking system? Well, okay, you can not immediately exchange into roubles, but through dollars. So the exchange of dollars into rubles is not controlled? More than that. And there's no way to trace where I got the dollars? That doesn't make any sense.

That's a good point. Everything and everyone is controlled. Not everyone just thinks about it.

 
Sergey Vradiy:

The total capitalisation of all cryptocurrencies is less than $500 billion. Globally, this is negligible. By comparison, the total amount of money supply and dollar derivatives in the US is on the order of a quadrillion.

I wrote about that. You didn't read it carefully. It's just a warm-up.
 
Nikolai Semko:

What is cryptocurrency and what is its original purpose.

To understand this, let's go back toAugust 15, 1971 - when US President Nixon announces the temporary suspension of the dollar's convertibility into gold.

But the new money had to be backed with something, otherwise it would cause inflation.

This is where the security race began.

After gold, the role of collateral for the new money injected into the global economy was taken over by oil.

After the Nixon shock and the collapse of the Bretton Woods system, the price of oil rose from 3 USD in 1970 to 40 USD in 1980.

But then oil too could no longer cope with the growing appetite of the US to inject money into the world economy.

The credit boom began. It was an ingenious invention to ensure that new money was injected into the economy by debt.

How cool is that? I owe you a million and you owe me a million. But if we set off that debt to each other, then the 2 million will simply disappear, and we will be 2 million poorer altogether. So let's not forgive, but wait endlessly for repayment :))

At this point the US national debt has already exceeded $20 trillion. You can see the current state of the national debt here.

Who does the US owe money to? Mostly to themselves.
It cannot go on indefinitely and financial tensions are growing in the world.

The national debt is essentially a mechanism of postponing inflation due to the unsecured injection of money into the economy.

(And this applies not only to the US, but to all highly developed countries. It's a very good mechanism, and it's not clear why Russia hasn't used it until now).


But something has to be done about the debt, which is greater than the size of GDP....

And then - Eureka!!!
Cryptocurrency! Modern information technology has to be launched. And at the same time, we will raise the demand for computer technology and earn money on it as well.
Let's start with Bitcoin as a test case...
For information: today the cryptocurrency market capitalization is ~$0.7 trillion, and by some estimates in 4-5 years it should reach $ 20 trillion

A soap bubble? A pyramid scheme? A scam for the whole world? Well, of course it is.

Only this bubble has a long way to grow. And the handsome one will be the one who gets out of cryptocurrencies before this bubble bursts...

And the rest is up to you. :))


Looks like conspiracy from yellow press, turnovers of cryptocurrencies are insignificant, as said above, there is no stability, and crypto is more like a venture capital action of elite echelon than currency...

But a pyramid is true, but it's a pyramid spontaneous, the public itself wants to take risks ))))

 
Sergey Vradiy:
Here's what I don't get. They talk about cryptocurrencies being an escape from bank controls. How am I supposed to exchange my minted cryptocurrency for roubles, for example? Someone has to buy it, right? So, the rubles will be transferred through a chain of bank accounts, all this will be reflected in the accounting entries. Rubles cannot disappear and then suddenly appear. All transactions are controlled. So, inevitably, the exchange of cryptocurrencies into roubles is also controlled. So where does this leave the banking system? Well, okay, you can not immediately exchange into rubles, but through dollars. So the exchange of dollars into rubles is not controlled? More than that. And there's no way to trace where I got those dollars? That doesn't make any sense.

localbitcoins

but the FBI seems to have learned how to navigate

 
Sergey Vradiy:
That's what I don't get. They talk about cryptocurrencies being an escape from bank controls. And how can I exchange a manmade cryptocurrency for roubles, for example? Someone has to buy it, right? So, the rubles will be transferred through a chain of bank accounts, all this will be reflected in the accounting entries. Rubles cannot disappear and then suddenly appear. All transactions are controlled. So, inevitably, the exchange of cryptocurrencies into roubles is also controlled. So where does this leave the banking system? Well, okay, you can not immediately exchange into roubles, but through dollars. So the exchange of dollars into rubles is not controlled? More than that. And there's no way to trace where I got those dollars? This is nonsense.
That's the thing, it's controlled. Once again, cryptocurrency is essentially a new way to inject money into the economy with impunity.
Moreover, due to its pyramidal nature, it is also a way to take money from the naive majority. Many will say, "Well, where is the pyramid here, because the amount of cryptocurrency is strictly limited?"
So the cost of it is not limited! This is a very clever way of disguising a classic pyramid scheme.
All the signs of a pyramid are there:
- the pyramid organisers, those who have the controlling interest, and therefore the main bonuses, cannot be calculated, as they plan to do the legwork from the beginning!
- the growth of the mass of the pyramid grows exponentially.
- The pyramid is not secured by anything.
Which means the collapse of the pyramid is inevitable. Who will benefit? A tiny minority who managed to get into the money before the collapse, and of course the main organizers. In short, the MMM of the third millennium.
In such a way it is possible to write off the U.S. national debt to the tune of. 20 trillion dollars to write off easily at the expense of the naive majority and lovers of freebies. There's nothing even wrong with that, it's just a natural DISCRIMINATION in the world of finance.
So, if the Fed is behind this organization of the main stream of cryptocurrencies, then one can only say: Bravo!!! Writing off the national debt at the expense of suckers, isn't that cool? And in doing so, throwing a lot of money into the global economy.

 
Nikolai Semko:
That's the thing, it's controlled. Once again, cryptocurrency is essentially a new way to inject money into the economy with impunity.
And moreover, due to its pyramidal nature, it is also a way to raise money from the naive majority. Many will say, "Well, where's the pyramid here, because the amount of cryptocurrency is strictly limited?
So the cost of it is not limited! This is a very clever way of disguising a classic pyramid scheme.
All the signs of a pyramid are there:
- the pyramid organisers, those who have the controlling interest, and therefore the main bonuses, cannot be calculated, as they plan to do the legwork from the beginning!
- the growth of the mass of the pyramid grows exponentially.
- The pyramid is not secured by anything.
Which means the collapse of the pyramid is inevitable. Who will benefit? A tiny minority who managed to get into the money before the collapse, and of course the main organizers. In short, the MMM of the third millennium.
That's the way to write off the U.S. national debt to the tune of. 20 trillion dollars to write off easily at the expense of the naive majority and lovers of freebies. There's nothing even wrong with that, it's just a natural DISTRIBUTION in the world of finance.
So, if the Fed is behind this organization of the main stream of cryptocurrencies, then one can only say: Bravo!!! Writing off the national debt at the expense of suckers, isn't that cool?

So much emotion, right over the edge.....

Cryptocurrencies are not fundamentally different from stocks, except for two things:

1 - they are not regulated by securities laws (but regulation will be introduced gradually)

2 - The technological nature of cryptocurrencies allows them to be used as a means of payment

However, no one prevents you from using shares as a means of exchange.

ICO is economically almost like an IPO, but simpler and cheaper.

There have been and will be ups and downs in certain segments of the stock market

P&Ds have been and will be

the value of crypto and stocks (and any asset, really) is determined by supply and demand

don't bring conspiracy theories into the mix

The national debt is going to be written off via crypto ))))))

 
transcendreamer:

So much emotion, right over the edge.....

cryptocurrencies are not fundamentally different from stocks except for two things:

1 - they are not regulated by securities laws (but regulation will be introduced gradually)

2 - The technological nature of cryptocurrencies allows them to be used as a means of payment

However, no one prevents you from using shares as a means of exchange.

ICO is economically almost like an IPO, but simpler and cheaper.

There have been and will be ups and downs in certain segments of the stock market

P&Ds have been and will be

the value of crypto and stocks (and any asset, really) is determined by supply and demand

don't bring conspiracy theories into the mix

The national debt is going to be written off via crypto ))))))

There is no conspiracy here, everything is on the surface for those who can see. Take the story about Satoshi Nakamoto )).

One of the signs that this is the case, is the fact that cryptocurrency is still allowed to live. After all, all it takes for some big man at the Fed to say something and it all collapses.

On the contrary, if I am right, cryptocurrencies can make good money. After all, then the cryptocurrency market is only at the very beginning and should be allowed to grow to, say, the size of a couple of US government debts ~$50 trillion.
Again, to make a profit on this you need to be in that tiny minority who will have time to make their feet (lock in profits) before it collapses.

How is bitcoin different from, say, Ilon Musk's company stocks?

The shares of Ilon Musk's companies are backed by large production facilities, intellectual property, prospects, the work of a large team, etc. and the charisma of Elon Musk himself.

And what is Bitcoin secured with? Only one thing - the prospect of growth. That's it!

And that's why bitcoin will grow much faster than shares of the same "Tesla Inc" ))))
But here's the question. How long will it last?

 
bitcoin haters are very much like a religious sect )
 
Did you hear Mavrodi passed away?
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