Cryptocurrency

SCNCY

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Sorry if already asked, but where do the American Dollars go when you purchase crypto currency?

You have to think of it like foreign exchange currency. If you go to Europe and exchange US dollars for Euros, your US dollars are going in to the exchangers account.

Same thing conceptually is happening with crypto, someone wants to exchange their crypto for paper currency. Although, right now, nearly everyone is using it as an investment.
 

Fitzy

Tracer Bullet
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Apr 8, 2014
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this is my shocked face

Not shocking it's dipped... But, it is a little surprising how fast it happened.

However...

it's down 61% from it's high a month ago. it's a buying opportunity. and then when it goes down another 60% that's another buying opportunity.

Bitcoin is still up over 440% since you made this post back in 2018 :p.
 
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NorthCyd

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Althetuna

Ducky was the best dog.
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Jul 7, 2012
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Could you imagine if our banking system was based on Bitcoin? People are concerned about inflation now. Could you imagine what 30% inflation in one day would look like? This is why we have a national banking system.

It’s been a rude awakening for bitcoin investors who thought they could handle the crypto volatility. The world’s largest digital currency suffered a 30% one-day drop last Wednesday, falling to about $30,000 a piece.

 

BCClone

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Could you imagine if our banking system was based on Bitcoin? People are concerned about inflation now. Could you imagine what 30% inflation in one day would look like? This is why we have a national banking system.

It’s been a rude awakening for bitcoin investors who thought they could handle the crypto volatility. The world’s largest digital currency suffered a 30% one-day drop last Wednesday, falling to about $30,000 a piece.

Then congress would get involved and 500% inflation would hit.
 

khardbored

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Oct 20, 2012
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Hhhmmmm........how hard is it to start one of these? Think I will start BCcoin. What’s the opening bids?

You can open a WeBull account for free, $100 minimum opening deposit. Can buy any amount of Bitcoin, Dogecoin, and probably some others.

Link: https://l.facebook.com/l.php?u=https://act.webull.com/pm/IHsv76tlNyzy/wwf/inviteUs/?fbclid=IwAR1KW03gu44b5jDd5rqhCvukhnJugngN7WcNLqhdyzGTSFr9GzoDCGihh_4&h=AT1yUd7cYsbO87JnqNBQILD2fffLH89QARE2ousUitNxeBi-VRBGG-T9auKCZTqrOX9q4H7e9-T-tYXtksPi89JCncq86UFx6jw0NVq2-d6UEpf16WFPdxmPAwvDGQfvSo-p24KRVJrU

(Note: Yes, this is a completely self-serving refer-a-friend link) :D But you also get 2 free stocks. Likely in the $5-$10 range.)
 
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