Posted on 02/01/2024 8:27:45 AM PST by Victor
Do any Freepers have experience with Crypto/Bitcoin? Anybody been scammed?
Really? You have the wrong guy.
Crypto-”currency” units are electronic tokens (in contrast to physical items) that have value to collectors, miners (who generate units), and traders.
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.
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.
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.
Which government will take it over?
That comment reflects a misunderstanding how this works.
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.
That is supposed to be the turning point in these encounters...when you ask to see them in person.
That is a very simple explanation. Thanks.
Question- if the "wallet" is not connected to the internet, how do you acess?
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.
That makes sense...your “wallet” is a flashdrive...Thank you.
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.
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.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.