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In gloomy economic scenario, gold continues to glitter

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12 hours ago, mr mr said:

its not that.

 

it shows you haven't spent any time looking at what crypto and blockchain really is. so while you and others basically make a joke about it you only expose your own lack of understanding and knowledge about the whole subject. 

 

defi is decentralized finance which is going to end banks as we know it. smart contracts are going to revolutionize how business deals are made. staking will be a way to get a yearly return on your coins just by simply holding onto them and putting them on the blockchain. some of the returns may shock you when you see what they are giving. 

 

look the general attitude on this thread so far has been to basically make fun of the whole asset class. 

 

keep this in mind. bitcoin in the last 10 years has given a 9million percent return on your investment. 

 

is there any other financial advice people on this thread want to offer up ? 

Have you considered crypto could be legislated against, then what is it worth?   

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7 hours ago, Leaver said:

Have you considered crypto could be legislated against, then what is it worth?   

i have considered but it is a non starter really. the entire world is going digital so why shouldn't money ? 

 

there are a few of the crypto companies who are working directly with legislators and law makers to pave the way. many countries are starting to pass legislation regarding crypto. heck even thailand did a year or so ago. 

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Gold broke through the 2000 USD soundbarrier.

 

Talk is of 2500, Japan kept taking it up. But is there a correction coming?

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On 8/3/2020 at 5:47 AM, mr mr said:

i have considered but it is a non starter really. the entire world is going digital so why shouldn't money ? 

 

there are a few of the crypto companies who are working directly with legislators and law makers to pave the way. many countries are starting to pass legislation regarding crypto. heck even thailand did a year or so ago. 

All the governments and central banks, along with the world bank, will come to an agreement there will be an international crypto currency.  Let's call it, "InterCoin" short for International Coin.  They legislate that it will be the only crypto currency accepted, globally, and out law all other crypto currencies. 

 

They have the blockchain encryption codes so they can collect taxes and stop money laundering and proceeds of crime, terrorism etc.   

 

Sure you can continue using the other crypto currencies on the dark web, but how will you get it back into a country's financial system so you can "legitimise" the funds?  

 

You are basically talking about the collapse of the world's banking system, 20 years from now.  Governments are not going to allow that to happen.    

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