Economics... (1 Viewer)

duranfj

Senior Member
Jul 30, 2015
6,527
Anyone have any thoughts on the longevity or future role of cryptocurrencies? Bitcoin has exploded since its creation, and now there's Ethereum getting interest from Russia and Singapore.

This is something I know nothing about, so I'm interested to hear some opinions. From what little I understand and as much as I don't like it, it seems to be the future and it would be wise to invest in now while it's early.
It's just a matter of time to consider as a valid financial instrument for almost everyone and the main reason for their current development is for "not declaring money business", there r so many countries (bid player Switzerland but there r plenty others) which financial systems are base in this kind of business and the advantage of crypto coins are gonna be more obvious for everyone once they grow up with time



P. S. Not just Farca, Messi, CR7 and other taxes fraud guys would love this shit in the future, countries with foreign exchange controls and others; when u consider that just Mexico drug business handle over 40 billions per year, u can have a big picture of how big this could get
 

AFL_ITALIA

MAGISTERIAL
Jun 17, 2011
17,873
It's just a matter of time to consider as a valid financial instrument for almost everyone and the main reason for their current development is for "not declaring money business", there r so many countries (bid player Switzerland but there r plenty others) which financial systems are base in this kind of business and the advantage of crypto coins are gonna be more obvious for everyone once they grow up with time



P. S. Not just Farca, Messi, CR7 and other taxes fraud guys would love this shit in the future, countries with foreign exchange controls and others; when u consider that just Mexico drug business handle over 40 billions per year, u can have a big picture of how big this could get
But why would it be considered a valid financial instrument if it's going to be used primarily for illegal things? :D
 

duranfj

Senior Member
Jul 30, 2015
6,527
But why would it be considered a valid financial instrument if it's going to be used primarily for illegal things? :D
Sadly my friend that's how a lot of economics started. Almost every drug in the world was created and sold for legal companies till everyone found out how addicted they were.

There r like 10 countries in the world where financial systems rely on money coming form dictador, corruption, tax fraude and much more.

Sadly thats how the world works. Crypto coins r here to stay
 
Jan 17, 2011
15,230
Sadly my friend that's how a lot of economics started. Almost every drug in the world was created and sold for legal companies till everyone found out how addicted they were.

There r like 10 countries in the world where financial systems rely on money coming form dictador, corruption, tax fraude and much more.

Sadly thats how the world works. Crypto coins r here to stay
Sadly?

A lot of fun things are illegal :D
 

Quetzalcoatl

It ain't hard to tell
Aug 22, 2007
58,244
What's the point of so many different currencies? If/when digital currency ever becomes mainstream, businesses will probably just accept the most valuable or popular one, say Bitcoin or Ethereum. What's the point of all the others like Litecoin, Dash, etc.?
 

lgorTudor

Senior Member
Jan 15, 2015
25,386
What's the point of so many different currencies? If/when digital currency ever becomes mainstream, businesses will probably just accept the most valuable or popular one, say Bitcoin or Ethereum. What's the point of all the others like Litecoin, Dash, etc.?
Their blockchain technologies are different. Every coin has unique advantages and disadvantages. Beyond that it's pretty complicated unless you're an IT person so I just educate myself on youtube
 

Quetzalcoatl

It ain't hard to tell
Aug 22, 2007
58,244
Their blockchain technologies are different. Every coin has unique advantages and disadvantages. Beyond that it's pretty complicated unless you're an IT person so I just educate myself on youtube
So the pioneer coins will probably be outdated before long, when other new ones come with better technology, and therefore should be avoided.

Seems like this is something we should wait a while and see if this is going to go mainstream anytime soon, or if it's too early for this stuff.
 

lgorTudor

Senior Member
Jan 15, 2015
25,386
So the pioneer coins will probably be outdated before long, when other new ones come with better technology, and therefore should be avoided.

Seems like this is something we should wait a while and see if this is going to go mainstream anytime soon, or if it's too early for this stuff.
I think the trick with alt coins is to buy at natural support level, if they moon they moon, and if not, they will stay at said level, even after dips, and you can rid of them if you wish.
 

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