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Main / The Lounge - Smokers welcome / Cryptocurrency Search Forum
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ryandinho
NI Ravens

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posted: 2021-05-04 18:16:33 (ID: 100159046) Report Abuse
Anyone tried using any of these? How have you gained or lost from it?
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pete
2020 - RETURN OF THE JEDI

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posted: 2021-05-04 19:50:46 (ID: 100159048) Report Abuse
I am using Bitcoin and Monero. But I do not use it for earning money, much more for small payments. Lately, bitcoin became unusable, because of the hype this sucker Musk and others made about it, the transactions became ridicolous expensive. So bitcoin is not able to handle micro transactions anymore, which was the basic reason it was invented for
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ryandinho
NI Ravens

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posted: 2021-05-04 22:22:30 (ID: 100159054) Report Abuse
Yeah, I seen the bitcoin value soaring. It was ethereum I'd been wondering about in particular but had only been doing a small bit of research so far.
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Solana_Steve
San Diego Blitz

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posted: 2021-05-06 04:47:46 (ID: 100159122) Report Abuse
I think bitcoin is going to mostly be used as a investment / hedge against currency inflation. In the US, they've increased the money supply by 25-30% to combat the economic hardships of Covid (at least that's their excuse). The stock market and real estate markets are near all-time highs - - despite the economic hardships. But it's really just investment inflation and when the regular economy returns, you'll start to see standard inflation to offset this growth in the money supply.

Some investors and companies now prefer to hold cryptocurrency over US dollars because some government can't just print more of it, thus reducing the value of the existing currency.

They have expanded the money supply a lot in Europe too, no?


Steve
SD Blitz
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ryandinho
NI Ravens

Joined: 2021-02-06/S41
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posted: 2021-05-06 18:00:48 (ID: 100159162) Report Abuse


I think you're right about Bitcoin. Especially now that some public names have gotten behind it, it seems to have really taken off recently and is looked at as an investment. There are more and more currencies that I'd never heard of before so trying to get my head around which actually have value.
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pete
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posted: 2021-05-06 20:10:13 (ID: 100159173) Report Abuse
just make sure you are using a proof of work coin. This way, the network and blockchain is less prone to cheating or takeovers by a majority - if there are enough miners on that blockchain.
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ryandinho
NI Ravens

Joined: 2021-02-06/S41
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posted: 2021-05-09 17:52:03 (ID: 100159276) Report Abuse
Ah I hadn't specifically thought about that, just assumed it was the normal way of doing it! Thankfully any of the ones i'd been looking at are all done that way
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