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Crypto Overlanding

Oh.. and ref the OP - I still tend to carry a mix of cash when travelling more broadly - GBP, USD, EURO and CHF covers most bases! Only small amounts - typically "get you out of the poop" money. As an aside, I was surprised to find that Iceland was largely "cashless" when we first went there 15 odd years ago - they were way ahead of the rest of Europe and most small businesses preferred cards to cash.
 
I certainly don't claim to understand Crypto but think that @karl2000 has explained the salient points very well above - Thanks! :thumbup:

The problem with Crypto is that the general public simply don't understand how it works (or can be bothered to find out TBH). Not sure it will ever become a comparable option to the main fiat currencies and become the dominant currency in the world - I'm sure there would be many many billions of $$$s in vested interests that would be against that anyway.
 
I like Cypto. Its almost certainly the future in some guise or another, although unlikely to be anything like the form it's in now. Crypto now is akin to the internet mid 90's, or mobile phones in 2000. There is a lot of development to go, but at some point in the future we will all learn to adopt it and trust it.

That said, crypto won't go anywhere while people see it as an investment tool, but a few more boom/bust cycles should sort that out.

Just my opinion.
 
but at some point in the future we will all learn to adopt it and trust it.
because we have a choice right? No, we are forced to adopt these changes but that's just evolution I guess. My employer doesn't offer a choice for paying me so I have to have electronic banking. Went to the dentist this morning for a check up and had to get some mini floss brushes...£6.50 but they would only take cash as it was under £20! WTF :doh:
 
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Agree Mick, not always convenient, but Id have left it if theyre refusing cash !
Surely with your dentist bill it was over the magic £20, it's all going in the same coffers so what's their problem ? Cheques have almost been wiped out because we are being brainwashed it's outdated and inconvenient, but for who ? My bank still sends me a new cheque book when the previous is getting low. The gas man who services our boiler will take cheques or cash, cheques preferably, but he's not buying into the card reader malarkey.
There's always the £ shop, or the corner shop that we have in every town and city, that stays open until midnight. They love cash !!
 
Let's face it... They really want to phase out cash... That's what contactless was all about innit... Sooner or later they will succeed.

That's what happens when the gov has control over the money - they make the decisions and set the policy
 
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Interesting set of comments. I have a huge distrust towards banks and the incoming CBDigital Currency that will be based around some social credit score..hence my dabbling in crypto.
Incidentally there is a better crypto doco to watch than the Netflix show..try
Cryptomania.
Lots of digital banks offer crypto services..like Revolut where people can invest in crypto..but as @karl2000 pointed out with these exchanges you don't own the coins until you have your own keys and wallet.
Worth keeping an eye on developments...
 
Yeah... blockchain... the principal is fundamentally flawed. I did a lot of research on this for a major FS company. Tread carefully....
 
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Many years ago I did buy these. about 50 other coins in 10 different exchanges. Now few exchanges disappeared, many coins vanished. Another big lot disappeared from my personal laptop as the blockchain was updated and laptop was not compatible. Then purchased another latest laptop. Even with all soft wallet n keys that lot can’t be recovered. I saw zeros adding up to the number and also the number itself disappearing :)
The concept is not wrong. The people are.
It’s same even with fiat money. The numbers we see on bank app can disappear, the material/property valuations that seem true can end up as lie n nothing overnight.
Friends inspired by my initiative into Bitcoin used hard wallet similar to hard cash and it’s protected. It’s the future we accept it or not
 
There are some valid points made in this post. I am fortunate that a good friend is obsessed with Crypto and has been for a few years now. Invest without doing your homework and you might as well throw your money down the drain, if you fancy a dabble, treat it like its money you can afford to lose then enjoy the wins and forget the losses. Last year I made ~£10k from Crypto for around £1,200 costs whilst still investing in more. Like I say, I am lucky, my friend is a walking encyclopedia on the subject and I just hang onto his coat tails. He helps write and program a number of crypto exchanges also.

I currently mine Chia (holding ~80Tb of plots) and have rigs mining Ethereum - the ethereum is usually sold to buy other coins or tokens.
I am currently mostly invested in Just Money, Safemoney and Zenith. The hunch is that Just Money (Token) and Zenith will come good.

Its likely that I have lost ~£2k because of mining and investing in Grimm (as Raj mentions, some projects just die, this one has, not sure of the circumstances but its more suspect as the months and years roll on!). As also mentioned, some coins and exchanges are flawed or going to run out of capacity sooner rather than later. Bitcoin being one, there will soon come a point (2028 ish) that it implodes, already the speed of its own exchange systems is drastically slow compared to the newer systems.

As easy way to play the game is to get a crypto.com card and just play the staple coins - e..g fun to have a flutter. That said, I much prefer the tokens they are more fluid and adaptable using the bedrock of the more stable coins.
 
There's a lot of work going on around scalability of blockchains - I suppose like everything else, it will evolve as it needs to!
 
The way i see it they are mining and selling an infinite resource so its money for fresh air . If i had a mate like Rogers though I'd certainly have a flutter because as far as i can tell i could not lose more than my original stake ?

If it was a success and i ended up owning a million quids worth of fresh air and then lost it - what exactly have i lost :confusion-shrug:
 
Hi Shayne,
On one point you are correct, you cant lose more than you stake (but if you are actually mining then you can use more electricity than you earn through the coins minded though).

I'm going to generalise, but things are not infinite and many of the new systems are "deflationary" where tokens are destroyed as they are used which drives up the price of the existing one (essentially supply and demand). To quote the just money system: "We have a buyback and burn mechanism where we use all fees from our products to buyback the tokens from the market and burn them, also increasing the price".
 
Yeah i had a little read just now and as i see it the Bitcoin value is created by a self imposed cap . Just like cash it becomes worthless if they don't limit its supply .
I don't pretend to understand it at all i'm just offering how its seen by those of us who don't have a clue or interest .
 
If I remember correctly bitcoin has always been limited to a maximum of 21 million coins, about 19 million of which have been mined so far.

There is something reassuring about the fact extra money cant just be created out of thin air (and thus devalued) as governments do with FIAT all the time
 
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