On the dark web you can by all the drugs you want with bit coin and have them mailed to your house.
Crypto-Currency Crash
- Thread starter biku324
- Start date
On the dark web you can by all the drugs you want with bit coin and have them mailed to your house.
DWalt
Member
There is no physical bitcoin mine, but rather uses some computerized method to create cybercoins. It is apparently very sophisticated and takes immense amounts of computer processing capability and consumes lots of electricity.
Hmm,might be time to buy in…
The mining operation "short version" is the process of verifying transactions using complex equations to record all transactions threw out the blockchain (network). Bitcoin uses the proof of work method to award coins as payment for maintaining the computer ledger.
The benefit is that it can cost a lot of money to transfer large sums of currency between two parties, the various currencies can make those transfers for significantly less costs as well as delays in making funds available to the receiving party. A good example is that I can receive a check from my brokerage account, deposit it into my savings at my credit union and wait for several days before those funds are available. Some crypto exchanges it is possible to have one person send another a large sum of money in the form of a particular coin that is recognized on the exchange and those funds would be available for the receiver to use in seconds.
As a side note, the crypto's are not conducive for illegal activity since all transactions are recorded for all time on all servers supporting the network. That is why most governments are working to develop their own digital currencies.
That is my understanding, and if the 18+ million shib I bought ever makes it to .01 cents that is better than the two winning lottery tickets next to my computer screen.
The benefit is that it can cost a lot of money to transfer large sums of currency between two parties, the various currencies can make those transfers for significantly less costs as well as delays in making funds available to the receiving party. A good example is that I can receive a check from my brokerage account, deposit it into my savings at my credit union and wait for several days before those funds are available. Some crypto exchanges it is possible to have one person send another a large sum of money in the form of a particular coin that is recognized on the exchange and those funds would be available for the receiver to use in seconds.
As a side note, the crypto's are not conducive for illegal activity since all transactions are recorded for all time on all servers supporting the network. That is why most governments are working to develop their own digital currencies.
That is my understanding, and if the 18+ million shib I bought ever makes it to .01 cents that is better than the two winning lottery tickets next to my computer screen.
OP
You're late to the game. Crypto has been used in ever-increasing frequency by really large trafficking cartels as it is truly anonymous and there is no bulky commodity to move, store, wash, invest, or transport.
DWalt
Member
There are several "bitcoin miners" traded on stock exchanges today. I haven't done any research on them, but there are some stock pickers who apparently believe they will be the big investment play of the future.
Yes, Crypto is a risk, it's a daily roller coaster, don't invest what you can't afford to lose, I've been using Coinbase since early spring, I bought the recent dip.
No worries.
No worries.
Does sound alot like the Fed and Treasury
but at least I get to hold dead Presidents. 
How many bitcoins are in the SS lockbox?
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Well that is hundreds of miles over my head. (and that is where for me it will remain!)
twodog max
Member
I got all mine buried in mason jars out in the woods. Now if i could just find that dang map. LOL
My brother told me dump all my money into the crypto nonsense. It would never lose value. It will only keep going up. He knows. He is an expert because one of his friends has lots of money and buys into the crypto nonsense hype. He went to the bank and took out a rather large loan to spend on bitcoins just before they started dropping. Stupid.
OldOutlaw
Member
They were all the first ones in. Laundering their ill begotten gains.
OP
Well, now - buy into crypto, fund North Korea!
The U.N. report also found that "cyberattacks, particularly on cryptocurrency assets, remain an important revenue source" for North Korea.
In 2021, hackers stole more than $50 million from at least three cryptocurrency exchanges in North America, Europe and Asia, according to the report, Reuters reported.
The report also noted that cybersecurity firm Chainalysis said North Korea had stolen at least $400 million worth of digital assets last year in attacks on cryptocurrency platforms, per the wire service.
UN finds North Korea increased missile capabilities, stole millions in cyberattacks: report | TheHill
The U.N. report also found that "cyberattacks, particularly on cryptocurrency assets, remain an important revenue source" for North Korea.
In 2021, hackers stole more than $50 million from at least three cryptocurrency exchanges in North America, Europe and Asia, according to the report, Reuters reported.
The report also noted that cybersecurity firm Chainalysis said North Korea had stolen at least $400 million worth of digital assets last year in attacks on cryptocurrency platforms, per the wire service.
UN finds North Korea increased missile capabilities, stole millions in cyberattacks: report | TheHill
Sistema1927
US Veteran
I tend only to invest in things that I understand.
That said, I invested the princely sum of $15.00 in Dogecoin a little while back, wondering what the attraction was. As of right now, it is worth exactly $4.15. I am sure glad that it was only $15, and not $15,000.
That said, I invested the princely sum of $15.00 in Dogecoin a little while back, wondering what the attraction was. As of right now, it is worth exactly $4.15. I am sure glad that it was only $15, and not $15,000.
This makes sense to me. It sounds like a smart investment.
Thing is, guy like me, the stock market, stocks, bore me to tears. Researching them, to me, is like doing one's own tax returns.
Haven't done that since 1987. Too painful.
So, put me in the index fund camp. Fire and forget. Long term, it works out. Historically, anyway.
Did somebody say 'gambling?' I'll take 4 aces with the kicker any time! And on a 10-Play machine, to boot!
Kaaskop49
Shield #5103
And on a 10-Play machine, to boot! Kaaskop49
Shield #5103
I believe the market is going to continue to have significant issues this year. I'm shocked it's held up this long, and has only done so through historic manipulation by the Fed. The US Dollar is just about dead, that's why something even more useless ("Digital" currencies/Bitcoin) has gotten so much traction.
If you research the crash of the overnight repo market just prior to this whole China Flu fiasco, it's a real eye opener, and not discussed in the "news/media." There's a reason they've printed trillions and trillions of dollars in the last couple of years, and it's not to send you a couple of $1k checks...! There's a lot that goes into this, it's global in nature, and a lot that is not being made public, and being hidden by the powers that be.
I'm very concerned about this house of cards, we'll see what the puppeteers can come up with, and how it plays out over time..,
If you research the crash of the overnight repo market just prior to this whole China Flu fiasco, it's a real eye opener, and not discussed in the "news/media." There's a reason they've printed trillions and trillions of dollars in the last couple of years, and it's not to send you a couple of $1k checks...! There's a lot that goes into this, it's global in nature, and a lot that is not being made public, and being hidden by the powers that be.
I'm very concerned about this house of cards, we'll see what the puppeteers can come up with, and how it plays out over time..,
slickracer
Member
I'm staying out of crypto, just don't want to check that box on page 1 of my tax return. I'll stick with my boring asset class and index funds.
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Friends that are in " the money business" that are my age or older all say a Big crash is just around the corner. They analyze all the markets, and have for years so guess they have insight. Inflation will trigger the coming crash, housing market, vehicle market and most of the crypto markets will really get hit. Been looking for a house since last summer, no luck. Many houses Ive looked at would not have been accepted by realtors 3 years ago, So many " issues" its hard to believe anyone would buy them.
Here's proof we don't know what we're talking about here. Me neither...
