Discussion in 'Alternative Investments' started by Tropo, 8th Apr, 2013.
Bitcoin - Wikipedia, the free encyclopedia
Tulip - Wikipedia
@Big Max I don't think all cryptocurrencies should be written off just yet as tulip mania.
I'm only in my beginning stages of research but I don't think it is a ponzi scheme (at least not Bitcoin and Ether specifically - most of the other 300 or so currencies that are popping up now, probably are!). In many ways, since fiat currencies like AUD and USD were detached from the gold standard decades ago (I believe when Aus switched from Pounds to AUD in what, the 60's I think, that's when the new AUD got stripped away from gold backing?); some would argue that fiat currency which has been printed into oblivion and becoming more and more worthless as a result (no sense of scarcity and inflation shooting up in some countries...); is just as bad as cryptos.
I kinda see cryptos as a kind of asset protection hedge (like gold or silver).
Whisper quiet on this thread despite the last week of crypto craziness due to China (or... 'rumors'/FUD of China...).
Anyway, either the Investchat community is still growing and not as big as propertychat, or if it IS big - should i take the crickets and tumbleweeds on this thread as a sign that Aussies aren't heavily playing in crypto yet?
Could be that there aren't a lot of crypto investors frequenting this page. There are a few great crypto pages on Facebook, which get huge amounts of traffic. Log into Facebook | Facebook is a good Australian example. There are quite a number of others which are not necessarily Aussie.
While investing in cryptos hasn't hit the mainstream yet, investor numbers are growing for sure.
just revisiting this thread if others are getting into crypto as well. Seems like it is still not popular with investchat peeps.
I'm not sure I'm sold on the idea of crypto, my main gripe being, given a currency such as AUD, it represents Australia and all it's resources, economy, infrastructure, etc... What is crypto backed by??
What Is Bitcoin, and How Does It Work?
Nowadays, Bitcoin can be used as a form of payment and it used uncrackable code to execute purchase and transfers and With the increased demand for bitcoin, prices naturally started to rise and stabilize and also these days, it has become a global phenomenon, emerging as one of the top investment destinations of thousands of people across the world and this is the reason why many investors called it the money of the future as we quickly transform the world into a fully digital realm.
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