Cryptocurrency

Satoshi Nakamoto is credited with creating the original cyrpto currency. He is not credited with coming up with the idea for block chain, just applying it to a decentralized form of currency

 

I just logged into my PayPal account for some new user agreement stuff and notice they now allow you to buy and sell crypto.

They list Bitcoin, Etherium, Bitcoin Cash and Litecoin along with the current prices.

 

It shouldn’t be too long till one certain crypto is used as the main currency of the whole world. That’s why the private central bank is so scared of it.

 

Along with promoting cashless purchases, so "they" can track and control ones money.

 

It now looks like this guy is claiming he was "Satoshi Nakamoto" behind the scene.
https://www.cnbc.com/2021/12/06/mia...of-craig-wright-bitcoin-claimed-inventor.html

 

Interesting development. If you have PayPal, you can get $5 worth of one of the 4 crypto currencies they support for signing up. It's free so I jumped on Etherium.

 

Actually ETFs are relatively new (I first saw them in the late 90's) and some are pretty sketchy also.

I believe there is talk of some financial exchanges trading Crypto related ETFs, but not trade in coins directly on major exchanges yet.

 

I'm pretty sure a Fidelity or Vanguard ETF are reliable. I would stick my money into just any stock and I wouldn't just any ETF either.

 

Down 75% in the last year. Dodged a bullet with this stuff.

 

I bought and sold BC and doge for a few months. Bought on the dips, sold on the way up. Got out.

 

The bigger irony is the idea it can’t be traced. Actually the feds can trace this better than traditional currency. As several of these platforms have crashed, they can spot the fraudsters. They are also now using crypto payments to track ransomware attackers and other cyber criminals. Makes sense as the block chain has to be transparent to enable security. If you have enough processing power you can eventually connect the dots to a person or institution that tries to trade the coins for some good, service or traditional currency.

 

The FTX deal is Jaw Dropping

https://rumble.com/v1upj8g-crypto-currency-expert-breaks-down-ftx-money-laundering-ponzi.html

 

Every time I considered investing in crypto, the little accountant running around my brain kept screaming NO NO NO!!

I heard the message loud and clear.

 

What's jaw dropping is that people believe that B.S and even still listen to that criminal scumbag.

 

Screenshot taken for future reference

 

My free $5 in Ethereum is now worth $1.66.

The secret we should all be abundantly clear about when investing in crypto is to NOT USE YOUR OWN MONEY!

 

Crazy as this might sound, I take the W buffet advice of "be scared when others are greedy, and greedy when others are scared."

This leads me to wanting to purchase some now. I've been taking some cues from my daughters boy friend . We will see how it goes. I had been buying physical silver but it got to the high 20s and with the "juice" it got to where I thought it too much. Now that it has settled back down around $20/oz I am going to resume the stacking.

On a side note that ftx debacle is incredible reading/listening. Right out of a book or movie.

 

Buffet is buying right now…
https://www.investors.com/news/warren-buffett-stocks-buys-sells-berkhire-hathway-q3-2022-13f/

Patrick

 

FTX’s destruction resulted from a mass sell-off of the company’s native bitcoin token, FTT, by the rival exchange, Binance. Its value plummeted, prompting a three-day “run” on billions of dollars worth of cryptocurrency, which in turn created – or exposed – a “liquidity crisis” within FTX, as it did not have the available assets required to redeem client withdrawals. FTX filed for bankruptcy on November 11th.

FTX founder and top Democrat Party donor Sam Bankman-Fried now faces criminal investigations in the Bahamas, where the exchange was headquartered, and calls for official investigations into the largely unregulated cryptocurrency industry are reverberating across the globe.