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Freeper Opinion of Crypto Currency
02/01/2024 | Myself

Posted on 02/01/2024 8:27:45 AM PST by Victor

Do any Freepers have experience with Crypto/Bitcoin? Anybody been scammed?


TOPICS: Business/Economy; Society
KEYWORDS:
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To: cherry

Really? You have the wrong guy.


81 posted on 02/01/2024 6:42:04 PM PST by Vermont Lt (Don’t vote for anyone over 70 years old. Get rid of the geriatric politicians.)
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To: Victor

Crypto-”currency” units are electronic tokens (in contrast to physical items) that have value to collectors, miners (who generate units), and traders.


82 posted on 02/01/2024 6:56:17 PM PST by linMcHlp
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To: Victor

You buy them on an exchange. I use Coinbase. You ACH money from a checking account, buy the currency you want. You can transfer the crypto to a private “wallet” that is not connected to the internet. No can access that without your “keys”.

When you want to cash you, you simply reverse the process.


83 posted on 02/01/2024 7:00:12 PM PST by Vermont Lt (Don’t vote for anyone over 70 years old. Get rid of the geriatric politicians.)
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To: Magnum44

Dave Ramsey wants you to buy the stock market. Only.

And thats fine. His attitude towards Bitcoin is pretty much the same as those major investment bankers.

Invest where you want. Literally no one cares, except the people who get your fees and commissions.


84 posted on 02/01/2024 7:04:12 PM PST by Vermont Lt (Don’t vote for anyone over 70 years old. Get rid of the geriatric politicians.)
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To: maddog55

And JP Morgan chase was fined how much for manipulating the silver Market?

There are scumbags everywhere, trying to get your money. Some of them are SBF. Some are Jamie Dimon.

I trust myself.


85 posted on 02/01/2024 7:08:32 PM PST by Vermont Lt (Don’t vote for anyone over 70 years old. Get rid of the geriatric politicians.)
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To: SaxxonWoods

Which government will take it over?

That comment reflects a misunderstanding how this works.


86 posted on 02/01/2024 7:10:05 PM PST by Vermont Lt (Don’t vote for anyone over 70 years old. Get rid of the geriatric politicians.)
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To: Vermont Lt

There’s over 4000 different kinds of crypto currency floating around. Hard to keep track what’s what and nothing for the most part to back it up so I don’t trust it... Personal opinion.

Precious metals I see as pretty much useless as well unless you use it regularly otherwise it’s a pile of rocks.

I’m more conventional but when the SHTF none of its any good... Bottled water will have more value.


87 posted on 02/02/2024 4:41:00 AM PST by maddog55 (The only thing systemic in America is the left's hatred of it!)
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To: rebelskid
Do you mean that when you suggested to"Candice" that you meet face-to-face (or video call etc) she reared up like a bad horse...?

That is supposed to be the turning point in these encounters...when you ask to see them in person.

88 posted on 02/02/2024 7:32:07 AM PST by Victor (If an expert says it can't be done, get another expert." -David Ben-Gurion, the first Prime Minister)
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To: Vermont Lt
"....You buy them on an exchange. I use Coinbase. You ACH money from a checking account, buy the currency you want. You can transfer the crypto to a private “wallet” that is not connected to the internet. No can access that without your “keys”. When you want to cash you, you simply reverse the process......"

That is a very simple explanation. Thanks.

Question- if the "wallet" is not connected to the internet, how do you acess?

89 posted on 02/02/2024 7:55:08 AM PST by Victor (If an expert says it can't be done, get another expert." -David Ben-Gurion, the first Prime Minister)
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To: Victor

Mine is like a USB card. It is attached to my PC when I want to move coins to the exchange. I also use a Yubi-key as a second confirmation. Then it is disconnected and stuck back in a safe place. Obviously, it is attached when I am using it. But the exposure is pretty limited.


90 posted on 02/02/2024 8:16:28 AM PST by Vermont Lt (Don’t vote for anyone over 70 years old. Get rid of the geriatric politicians.)
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To: Vermont Lt

That makes sense...your “wallet” is a flashdrive...Thank you.


91 posted on 02/02/2024 8:39:03 AM PST by Victor (If an expert says it can't be done, get another expert." -David Ben-Gurion, the first Prime Minister)
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To: Vermont Lt
Methinks we might have bigger things to worry about then.

The major "bigger thing" is identifying the attacker and retaliating. Even third worlders like North Korea are launching satellites, of which there are so many it is difficult to keep track of their origin. We'd be likely to reflexively hit Russia or China, which would result in TEOTWAWKI. An undesirable result.

92 posted on 02/02/2024 10:02:06 AM PST by JimRed (TERM LIMITS, NOW! Finish the damned WALL! TRUTH is the new HATE SPEECH!)
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To: Victor

It’s not…..but for the layman that is the best description. There are safeguards and back up stuff.

The wallet itself is actually on the blockchain. So….yeah, it gets a little wonky.


93 posted on 02/02/2024 10:17:57 AM PST by Vermont Lt (Don’t vote for anyone over 70 years old. Get rid of the geriatric politicians.)
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