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By (user no longer on site) OP   
over a year ago

I have heard about this. Is there a layman term of what this is about and has anyone done this

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By (user no longer on site)
over a year ago

It baffles me.

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By (user no longer on site)
over a year ago

I'm a total div, tried get my head around it, to no avail..

NFT/cryptographic type stuff, I think I just about get, but it still twists my noodle to be honest

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By (user no longer on site)
over a year ago

Yeh been investing in cryptocurrencies for 9 years now only have 2 btc now but have investments in many smaller coins (ETH,ADA,SAND,SOL,SHIB,SUSHI). Its worked out well for me however am moving towards NFT now.

Dont stake what you cant afford to loose as its very volatile

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By *LheadMan
over a year ago

Chester


"I have heard about this. Is there a layman term of what this is about and has anyone done this"

It's basically buying a stake in a digital currency you "hope" will significantly rise in value over a short period of time which you can then sell to reap the profit.

There's a little more to it than that but that's it in a nutshell. It's the technology behind crypto currency which is what the banking system will eventually be using which is very useful globally. Whether the current coins such as Bitcoin or Eth will be adopted globally is another question because Governments and more importantly the corrupt banking system will want total control over crypto currency before its widespread implementation. The jury is still out on whether this will be possible. Its basically the global banking cabal against the people.

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By (user no longer on site)
over a year ago

Im just starting to get into the whole crypto markets. Don't know what I'm doing but it's just a bit of fun . If I become rich off it even better

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By *LheadMan
over a year ago

Chester


"Im just starting to get into the whole crypto markets. Don't know what I'm doing but it's just a bit of fun . If I become rich off it even better "

I bought some Bitcoin and Eth four years ago, cost me 12k. Its now sitting there with a value of 145k.

You need to keep an eye on what regulations goverments are planning to implement because this is what causes the value to rise or fall QUICKLY!

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By *rPeachyMan
over a year ago

Bristol

This guy sums it all up quite succinctly

https://twitter.com/BambroughKevin/status/1471935417087840266

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By (user no longer on site)
over a year ago


"I have heard about this. Is there a layman term of what this is about and has anyone done this

It's basically buying a stake in a digital currency you "hope" will significantly rise in value over a short period of time which you can then sell to reap the profit.

There's a little more to it than that but that's it in a nutshell. It's the technology behind crypto currency which is what the banking system will eventually be using which is very useful globally. Whether the current coins such as Bitcoin or Eth will be adopted globally is another question because Governments and more importantly the corrupt banking system will want total control over crypto currency before its widespread implementation. The jury is still out on whether this will be possible. Its basically the global banking cabal against the people. "

I heard something along those lines, that state control could be a little dodgy... about how it might be linked to a credit based system.

People/consumers being given credits or having them deducted, depending on what they choose to purchase... something like that

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By (user no longer on site) OP   
over a year ago


"Yeh been investing in cryptocurrencies for 9 years now only have 2 btc now but have investments in many smaller coins (ETH,ADA,SAND,SOL,SHIB,SUSHI). Its worked out well for me however am moving towards NFT now.

Dont stake what you cant afford to loose as its very volatile "

I don't think that is layman's terms lol

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By (user no longer on site) OP   
over a year ago

Im still none the wiser. Would be interested but yeh.

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By (user no longer on site)
over a year ago


"This guy sums it all up quite succinctly

https://twitter.com/BambroughKevin/status/1471935417087840266"

Not really, hes pretty clueless, once you understand the fundamentals behind blockchains & the structure behind it you'll get a grasp on crypto. As said in 9 years ive done well and around 600k up which started my property portfolio. The fools are the haters like kevin that dont understand it.

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By *rPeachyMan
over a year ago

Bristol


"This guy sums it all up quite succinctly

https://twitter.com/BambroughKevin/status/1471935417087840266

Not really, hes pretty clueless, once you understand the fundamentals behind blockchains & the structure behind it you'll get a grasp on crypto. As said in 9 years ive done well and around 600k up which started my property portfolio. The fools are the haters like kevin that dont understand it. "

He's a former fund manager at Sprott. Most definitely not clueless

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By *uddy laneMan
over a year ago

dudley

Bitcoin is nothing without the block chain yes you can mine a coin or part of one the belief and faith people put into it is for the block chain not the currency.

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By *alandNitaCouple
over a year ago

Scunthorpe


"Yeh been investing in cryptocurrencies for 9 years now only have 2 btc now but have investments in many smaller coins (ETH,ADA,SAND,SOL,SHIB,SUSHI). Its worked out well for me however am moving towards NFT now.

Dont stake what you cant afford to loose as its very volatile

I don't think that is layman's terms lol "

Bitcoin is a totally Digital Currency, in theory it is very secure (unstealable) and untraceable... so popular with the criminal world.

Because it is not linked to economic infrastructures like a conventional currency, it's value can fluctuate wildly.

Also NFTs are basically the rights to a digital entity.

Cal

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By (user no longer on site)
over a year ago


"Im still none the wiser. Would be interested but yeh. "

Just read read and read up about it.

Crypto isnt going anywhere its the future of banking & uncontrollable via the big banks and the banks are scared by this.

Have a watch this is as simple as it gets https://youtu.be/6Gu2QMTAkEU

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By *otMe66Man
over a year ago

Terra Firma


"I have heard about this. Is there a layman term of what this is about and has anyone done this"

I too was interested in knowing more about crypto currency and what I learnt from others and a bit of research is it is totally unregulated and anything can increase or decrease its value due to it being unregulated. People with crypto are seen as cutting edge and pioneers and talk like it! What it boils down to is your appetite for risk, love high risk then this is your turf, averse to high risk, avoid.

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By *LheadMan
over a year ago

Chester

[Removed by poster at 30/12/21 10:59:07]

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By *uddy laneMan
over a year ago

dudley


"Yeh been investing in cryptocurrencies for 9 years now only have 2 btc now but have investments in many smaller coins (ETH,ADA,SAND,SOL,SHIB,SUSHI). Its worked out well for me however am moving towards NFT now.

Dont stake what you cant afford to loose as its very volatile

I don't think that is layman's terms lol

Bitcoin is a totally Digital Currency, in theory it is very secure (unstealable) and untraceable... so popular with the criminal world.

Because it is not linked to economic infrastructures like a conventional currency, it's value can fluctuate wildly.

Also NFTs are basically the rights to a digital entity.

Cal"

Yes keep cash, dealers and hit men only deal with untraceable cold hard cash with no trail or block chain ledger to show were the coin went.

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By *LheadMan
over a year ago

Chester


"Yeh been investing in cryptocurrencies for 9 years now only have 2 btc now but have investments in many smaller coins (ETH,ADA,SAND,SOL,SHIB,SUSHI). Its worked out well for me however am moving towards NFT now.

Dont stake what you cant afford to loose as its very volatile

I don't think that is layman's terms lol

Yes keep cash, dealers and hit men only deal with untraceable cold hard cash with no trail or block chain ledger to show were the coin went."

Cash is rapidly becoming a thing of the past, the scamdemic was very helpful on that front. In 5 years time you will not be able to buy or sell a single thing without it being traced by the banks and thus the government.

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By (user no longer on site)
over a year ago


"Im still none the wiser. Would be interested but yeh.

Just read read and read up about it.

Crypto isnt going anywhere its the future of banking & uncontrollable via the big banks and the banks are scared by this.

Have a watch this is as simple as it gets https://youtu.be/6Gu2QMTAkEU "

It is and will only 2 million left and the party over

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By (user no longer on site)
over a year ago

Eventually there will be only digital currency but while we are in this transition there’s the shit show tug of war between the the old school way (banks) and decentralised (crypto) this will probably last all of our lifetime so the best way to do is think, it’s a gamble so can I afford to lose it, remember to buy as cheap as possible do your research remember youtube is not research either so don’t listen to those who already have 100k plus in, of course they are making thousands a week, they’d be doing that in the stock exchange anyway and secondly there’s a term called HODL which means hold on for dear life…. Exactly that go in cheap as chips with money you can afford to lose and wait and wait and wait

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By (user no longer on site) OP   
over a year ago

So to summarise- it's a digital currency that the value of each coin can go up and down in value as it's nor regulated. You put what money you want in to buy the currency however be aware that your digital currency can go up and down in value all the time and when you think it's right you can sell it on for what value it is at that time you want to or withdraw it from an app? Or have I just made all that up and nowhere near

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By *otMe66Man
over a year ago

Terra Firma


"So to summarise- it's a digital currency that the value of each coin can go up and down in value as it's nor regulated. You put what money you want in to buy the currency however be aware that your digital currency can go up and down in value all the time and when you think it's right you can sell it on for what value it is at that time you want to or withdraw it from an app? Or have I just made all that up and nowhere near "

It is sold on an exchange, some exchanges have apps. The crux of the above is correct in as far as like everything its value will go up and down based on demand. The most important thing to remember is cryptocurrency is a high risk investment.

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By *rPeachyMan
over a year ago

Bristol

When BTC can rise or fall 20% over a weekend, and can make similar moves off a single tweet from Elon Musk, that tells you all you need to know about risk and stability.

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By *LheadMan
over a year ago

Chester


"When BTC can rise or fall 20% over a weekend, and can make similar moves off a single tweet from Elon Musk, that tells you all you need to know about risk and stability."

So no different to any other volitile asset on the stock market then.

Big Banks: trust us, we wouldn't screw you over or create more money out of thin air.

Also Big Banks: let's buy as much of that digital currency as we can possibly get hold of, like fuck are those peasents going to get rich without or permission.

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By *rPeachyMan
over a year ago

Bristol

As with all ponzi schemes, make sure you're out when the muscic stops. Same goes for NFTs.

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By (user no longer on site)
over a year ago


"Yeh been investing in cryptocurrencies for 9 years now only have 2 btc now but have investments in many smaller coins (ETH,ADA,SAND,SOL,SHIB,SUSHI). Its worked out well for me however am moving towards NFT now.

Dont stake what you cant afford to loose as its very volatile

I don't think that is layman's terms lol

Bitcoin is a totally Digital Currency, in theory it is very secure (unstealable) and untraceable... so popular with the criminal world.

Because it is not linked to economic infrastructures like a conventional currency, it's value can fluctuate wildly.

Also NFTs are basically the rights to a digital entity.

Cal

Yes keep cash, dealers and hit men only deal with untraceable cold hard cash with no trail or block chain ledger to show were the coin went."

Criminals deal in all commodities

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By *LheadMan
over a year ago

Chester


"As with all ponzi schemes, make sure you're out when the muscic stops. Same goes for NFTs."

And yet the ponzi scheme of all governments in trillions of debt to PRIVATE CENTRAL BANKS is never going to collapse is it.....

What tangible asset is backing our current system right now? Oh that's right... Blind faith!

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By *ev257Man
over a year ago

cardiff

If you got a bit of spare cash you can afford to lose or tie up then my advice would be go for it.

What you got to remember is that if you don't take a risk then you won't get anywhere in life financially.

Around 25 years ago I was always of the mindset of working for someone else n pay my house of n that was it n maybe put a bit away for when I'm old.

Then one day I said fuck it I want more from life than this, so started investing in gold, silver n stockmarket along with doing a bit of buying n selling aswell as still working a day job.

25 years on now I have just gone back to work as due to boredom as I did retire 4 years ago, house is paid off, have 2 buy to let properties aswell as my other investments.

There is no way I would have anything like that if I just carried on just working my day Job.

There are plenty of info on Internet n youtube.

Even if bitcoin isn't for you, just get the ball rolling n start making money.

My only regret is I didn't start until I was in my 30s.

One rule to remember n has served me well is something Warren Buffett said,

"It's not timing the market, it's time in the market".

To a degree this has served me well.

Good luck

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By *randmrsdisneyCouple
over a year ago

weston-super-mare

[Removed by poster at 30/12/21 13:49:40]

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By *randmrsdisneyCouple
over a year ago

weston-super-mare


"I have heard about this. Is there a layman term of what this is about and has anyone done this

It's basically buying a stake in a digital currency you "hope" will significantly rise in value over a short period of time which you can then sell to reap the profit.

There's a little more to it than that but that's it in a nutshell. It's the technology behind crypto currency which is what the banking system will eventually be using which is very useful globally. Whether the current coins such as Bitcoin or Eth will be adopted globally is another question because Governments and more importantly the corrupt banking system will want total control over crypto currency before its widespread implementation. The jury is still out on whether this will be possible. Its basically the global banking cabal against the people. "

Well put, thats basicly how i understand it but i would never havd been able to explain it so well . I have some shib ( not doing well ) but i think Bidon and his government are trying to shut down cryptos to make way for their own digital currency.

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By *2000ManMan
over a year ago

Worthing

As with all investments, I'd only risk what you can afford to lose. The Sirius Minerals share is one example. Not crypto but the story makes grim reading. People lost entire pensions and savings on that.

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By *idnight RamblerMan
over a year ago

Pershore

You must consider that crypto currency exist in a cyber domain and has no underlying asset value like stocks, bonds, property. So what are you investing in? In a word 'trust'. Trust that other investors/users will keep faith in crypto.

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By (user no longer on site)
over a year ago

I don't get it but always willing to learn

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