Crypto currency

Hey

For starters, I believe crypto currency will be the next gen currency, because it's really hard to fake, government has no power whatsoever over it, so it's immune to inflation, and they (government) can't steal it from you in form of taxes to do what they please with your work effort, or fake and create more bitcoins in the market, raising inflation ratio and ******* up economy.

Also, for physycal currencies, there's a practice called Fractional-reserve banking that the banks must do (central banks, controlled by the government, forces private banks to do that), which in practice, is just the act of creating money out of thin air. It works like this: goverment creates long term loans to borrowers while providing immediate liquidity to depositors.

Because bank deposits are usually considered money in their own right, and because banks hold reserves that are less than their deposit liabilities, fractional-reserve banking permits the money supply to grow beyond the amount of the underlying reserves of base money originally created by the central bank, and that is exactly what creates high inflation.

Taking bitcoin for example, If I'm not mistaken, it has around 16 million bitcoins in the market today, and the algorithym should be able to produce the total of ammount of it near the 20, 21 million, from many years from now, and its completely out of of government hands, they can't create fake money using fractional-reserve banking, so your money will never lose its value.

More info:

https://en.wikipedia.org/wiki/Fracti...eserve_banking
IMB - Bitcoin, The New International Currency

Thanks for the heads up.

I like to trade currencies also. Right now I'm trading the standard forex paired currencies.

When it comes to investing, however, I'd stay away from anything that is not backed by a tangible asset, e.g. gold, silver, and real estate.

I'd never hold any currency as a long term investment. Fiat money, no matter what form it takes, is worthless. It is all just debt. Eventually it is not worth the paper (ecoin) it is printed on.

This may be out of topic, but I wish there is a paypal alike for bitcoin that goes as simple as paypal with its buy now button. I'd love to accept payment via bitcoin and redirect the buyer to the download link, just like it does by paypal button.
I'm not good on trading and had bad experiences all the time with it.

Cryptocurrency may as well be called "cryptic currency," because it's nowhere near as easy to figure out as typical money. For one, while most of them (and yes, there's more than one) have names that end with "-coin," they don't usually come in physical form. Yes, they do represent money in digital form, but using them is a bit more complicated than digital payment services like, say, PayPal or Google Wallet. Also, unlike banks and online services, they're decentralized, with no single governing body overseeing and verifying transactions -- there's a reason why bitcoin was (is?) the currency of choice for black market regulars.

Also, I'm obsessed with the crypto-currency tech. I believe it's the most exciting area of tech atm. Along with all decentralized, open source tech.

I think you've right there outlined some of the few big problems with it right now (I'm sure this will change soon enough)..

It's not widely enough known yet.

Learning how to trade it on several exchanges - it should be easier and you shouldn't need connections to do so.



I think it will eventually be the future but I think it has a long way to go and mature first. IMO at least.

Dont get mess with cryptocurrency.

They're virtually unpredictable and ok, it's a new uptrend.... but check that most of the people who
make real money on it it's because of...

...email marketing!

I mean they have an opt in page about a cryptocurrency product, and they sell it to their list.