Thought about Crypto?

[tamtam12345]

What do you think about crypto(Bitcoin, Eth, Altcoins...)? It's a hit topic currently.

[Maxbirykov2004]

What do you think about crypto(Bitcoin, Eth, Altcoins...)? It's a hit topic currently.

Its something that is produced by computers and it costs money (i dosent have much knowledge about this things)
And could someone tell, why people buy this?
And i guess that it is another fraud...
But i really don't know...

[Hyuhjhih]

All I have to say is 🥺 in the order of my faces

Crypto , is the concept of virtual currency,
The currency, which is saved , used, and produced by technological aspects. By far there are some rare frauds claiming of actual crypto making, this concept is still considered an out of the timeline idea since the technology nowadays is vulnerable to fraudsters, hackers and several manipulations.

That's all i know.

However there are still some renowned, as well as critically maintained successful cryptocurrencies like Bitcoin etc.. but they are way too much complicated, and still i don't trust in these.

Thought about Crypto?

That's it.

[makazuwr32]

For me they cost nothing since with them i can't buy what i need:
My own home
Car
Food and drinks
Voyage
PC
Smartphone
Games in steam

And many more.

All these in Russia can be bought only with ruble and thus i have close to no interest in any other currency, especially virtual ones without any real material security or any actual rules how should they work.

Also another problem in crypt is that they are not owned by any country (officially at least) and instead are owned by random guys (yes they are big guys but still in scale of country they are still random guys) which also is dangerous. If this guy will decide to shut down this crypt you can do nothing. At all. Since he is owner and he can do with it whatever he wants.

We in our family have next rule:
You must keep money in currency you use most. In my case it is ruble and because i do not plan to travel outside of Russia (there are shitton of places i want to go in my own country in the first place; i can go outside only when i will visit all places i want in Russia) i have close to all my savings in ruble.

[tamtam12345]

And could someone tell, why people buy this?
And i guess that it is another fraud...
But i really don't know...

Rocketing inflation, Foreign exchange control... Typical country that widely used Crypto is Venezuela. You can search news by entering "Venezuela bitcoin".
The main reason maybe citizen doesn't trust their country so they wanna to hide their money/to keep their purchasing power...

Crypto , is the concept of virtual currency,
The currency, which is saved , used, and produced by technological aspects. By far there are some rare frauds claiming of actual crypto making, this concept is still considered an out of the timeline idea since the technology nowadays is vulnerable to fraudsters, hackers and several manipulations.

Uncertainty. The Cryptos may success, or failed.
It's a kind of investment.
I think big Crypto(BTC) is digital diamond. It's price depends on how people think about it.
Altcoin is a kind of stock. It's prices depends on performance of company.

For me they cost nothing since with them i can't buy what i need:
My own home
Car
Food and drinks
Voyage
PC
Smartphone
Games in steam

And many more.

You can use Crypto to buy some of them(home,car,stock...) in certain places. Looks like some big firms started to accept "successful" Crypto(BTC) as medium of exchange.

Also another problem in crypt is that they are not owned by any country (officially at least) and instead are owned by random guys (yes they are big guys but still in scale of country they are still random guys) which also is dangerous. If this guy will decide to shut down this crypt you can do nothing. At all. Since he is owner and he can do with it whatever he wants.

That is one of the main risk that Crypto holders facing... So holders preferred to trust Crypto that cooperate with big firms. And thats why there are many scams in small Altcoins...

We in our family have next rule:
You must keep money in currency you use most. In my case it is ruble and because i do not plan to travel outside of Russia (there are shitton of places i want to go in my own country in the first place; i can go outside only when i will visit all places i want in Russia) i have close to all my savings in ruble.

The precondition is : You trust your country/city/Government.

In HK, the city that I live, the Government performed poorly, and they always create big troubles. I feel the environment,economics (in different aspect) becoming bad. I don't have any expectation on the Gov so exchanging some fiat into Crypto maybe a good idea...

[makazuwr32]

.....

For me they cost nothing since with them i can't buy what i need:
My own home
Car
Food and drinks
Voyage
PC
Smartphone
Games in steam

And many more.

You can use Crypto to buy some of them(home,car,stock...) in certain places. Looks like some big firms started to accept "successful" Crypto(BTC) as medium of exchange.

Not in Russia and not legally. Yes you can buy them in firms outside of my country but you also need it to be delivered here first... Better just buy it here — it will be cheaper time-wise.

Also another problem in crypt is that they are not owned by any country (officially at least) and instead are owned by random guys (yes they are big guys but still in scale of country they are still random guys) which also is dangerous. If this guy will decide to shut down this crypt you can do nothing. At all. Since he is owner and he can do with it whatever he wants.

That is one of the main risk that Crypto holders facing... So holders preferred to trust Crypto that cooperate with big firms. And thats why there are many scams in small Altcoins...

We in our family have next rule:
You must keep money in currency you use most. In my case it is ruble and because i do not plan to travel outside of Russia (there are shitton of places i want to go in my own country in the first place; i can go outside only when i will visit all places i want in Russia) i have close to all my savings in ruble.

The precondition is : You trust your country/city/Government.

In HK, the city that I live, the Government performed poorly, and they always create big troubles. I feel the environment,economics (in different aspect) becoming bad. I don't have any expectation on the Gov so exchanging some fiat into Crypto maybe a good idea...

It is not depending on government. In Zimbabwe for example common currency is not their national one but USA Dollar. In Russia of 90th by the way dollar and euro also were more common than ruble.

And during that time my family kept money in those 2 currencies as well as paid around 70% of all in them.

If in your place some currency is needed more than other (no matter what currency it is — dollar, euro, national currency, crypto, gold, orc skins, dragon scales, redstone blocks, gasoline, crude oil, weapons' ammunition, animal leather, mythril ore, liquid echirus, Thanos' infinity gaunlets, werecats or something else, only matters that you use on daily routine that type of currency more than others) than it is better to keep savings in it.

[Shark guy 35]

I know next to nothing about this topic, so I won't make a comment, but I will say that with tensions heating up around the world, investing a little bit in defense companies doesn't seem like a bad idea.
That's all for investment advice with SharkGuy. Please don't take this seriously.

[tamtam12345]

Not in Russia and not legally. Yes you can buy them in firms outside of my country but you also need it to be delivered here first... Better just buy it here — it will be cheaper time-wise.

Won't comment on other countries' policies...

It is not depending on government. In Zimbabwe for example common currency is not their national one but USA Dollar. In Russia of 90th by the way dollar and euro also were more common than ruble.

And during that time my family kept money in those 2 currencies as well as paid around 70% of all in them.

The Zimbabwe example that you described shows their local currency FAILED to act as medium of exchange/store of value(people don't wanna to admit it's value)...
Just think about who print its fiat : The Zimbabwe Government.

If citizen refuced to use fiat for transection(under fiat depreciation), it indicates they don't trust their Gov can exchange back same purchasing power that the fiat noted. As a result, they will use other currency (USD) for transection.

Currently the character of some Crypto(like BTC, USDC) is in "other currency" Category that you mentioned in certain countries.

If in your place some currency is needed more than other (no matter what currency it is — dollar, euro, national currency, crypto, gold, orc skins, dragon scales, redstone blocks, gasoline, crude oil, weapons' ammunition, animal leather, mythril ore, liquid echirus, Thanos' infinity gaunlets, werecats or something else, only matters that you use on daily routine that type of currency more than others) than it is better to keep savings in it.

True.

[makazuwr32]

And that is why we have that rule in our family.
By the way. Part of my relatives are living in Israel, Italy and Kazakhstan.
In Italy they use Euro, in Kazakhstan they use ruble and/or dollar+euro (depending on exchange rate vs ruble), in Israel they use shekels and euros (50/50).

So that is what i am talking about.
In Kazakhstan local currency is relatively good and government is good as well so you can use local currency... but it just looses too much in terms of influence against ruble, euro and dollar and thus it is not used wide enough inside country. All shops accept for sure 1 (or even more) currency among ruble, euro and dollar.
In Italy despite the fact that government is not that good (it is terrible from their view) because euro is related to more than one country it is stable and can be used normally for savings.
In Israel my relatives are working in tourism sector (Russia, Europe) and thus euro and shekels are used equially. Government in Israel is relatively powerful (if compare to Italy at least, on par with Kazakhstan).

So from government itself what currency is used in that country or another depends not that many as you think. It also depends on surrounding countries and relations with them.
Italy is under EU thus even if government will completely fail like in Zimbabwe euro will still be used normally.
Israel has no ridicilously powerful neighbours in region who can outpower economically and also has fairly good government it thus its currency is dominating inside.
Kazakhstan has also really good government but due to Russia as neighbour and due to past being part of of Russian empire and USSR its currency falls against ruble. Not even single kazakh government would be able to outpower economically Russia and thus erase ruble from its own economical field (and they are dreaming about it for at least 25 years).

[Hyuhjhih]

Uhh... Did I suddenly get in the Age of Finance
I can see several factions here like Italy Russia Kazakhstan India and whatever....

Oh... and ofcourse the currently OP Zimbabwe

Which is the building for researching the technology "To Ruble" ?

Should it be moved to other variants for further discussions ?

My pet lion (near my name ) is ready to sprint through several nations

[makazuwr32]

Which is the building for researching the technology "To Ruble" ?

Ofc Russian diplomatic department in your country.

[Anchar]

Well, theoretically, I think that in Russia it would be quite possible to exchange bitcoins for rubles, given that they can be produced by a computer, then this is a peculiar investment in speculation to increase money, the only question is who to exchange them with? although knowing how it is done in Russia + obsession with such a thing, there are probably already many options (of course, illegal).

Yes, and you can also play with the course, for example, one guy told me that Elon Musk specifically makes his statements about the supposedly falling bitcoin rate in order to buy everything cheaply and then sell (this is the conclusion if a successful businessman gives advice to ordinary working people, then it is clearly do not listen because he got rich on such deceptions), And I do see the news all the time about Musk criticizing Bitcoin (although I try not to believe the news).

[makazuwr32]

It can be changed only on that stock market. For being able to even attend there you need a 2000$ deposit (that is minimal sum to enter onto stock market in Moscow), finish certain stock market classes (and you need to pay for them, around 200$) and ofc not everyone has such money for that.

Alas Russian government is planning to launch an official russian Crypto — "Crypto Ruble". Ofc it will different from bitcoins and other current cryptos which are obtained via mining.
That CR will be equivalent to regular ruble and will be exchangeable with 1v1 exchange rate.

[Anchar]

I don't know about Moscow, but in my city there are a lot of people doing this. If they do this, then there is a benefit.

As far as I was told, there are even applications in the phone for buying and selling.