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With cryptocurrencies, you have got a very good chance of doubling, tripling or even 10x-ing your money. But you've also got a very real chance of losing everything. It's not investing, it's gambling.

less chance of the bank manager running off to the cayman islands with your money?

Dude, this is not the place to discuss the next generation's financial system. The majority of the users of this forum fall into a category of people that are set in their ways, incapable or reluctant

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10 hours ago, GrandPapillon said:

alt bitcoins safe for money? hahaha, suckers born every minute in this world 🤣

What are you talking about? 

Do you even know what a stablecoin is?

 

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3 minutes ago, mjnaus said:

 

Dude, this is not the place to discuss the next generation's financial system. The majority of the users of this forum fall into a category of people that are set in their ways, incapable or reluctant to at least keep an open mind do some research before declaring stuff they're clueless about to be a scam. The fact that decentralized finance is real and currently securing close to $80 billion is beyond comprehension for most of these folks.

 

Let me drop a little knowledge for those interested: "stablecoins" are stable crypto assets (stable in the sense that most are pegged to major fiat currencies like the USD). Deploying these assets into defi protocols that lend these out provide lenders with yields of high single digits or low double digits. These loans are OVER-collateralized, ie secured by assets (provided by the entity taking out the loan) with values of 150%+ of the loan value. If a debtor does not repay the loan or if the collateral falls below a threshold (often still way above 100% of the loan value), the collateral is liquidated and used to pay off the loan. Many of these protocols have now been around for several years, have their smart contracts audited by leading security firms and even come with the option of adding insurance. 

 

To everyone dismissing everything related to crypto as scams, please do yourself a favor and dig a little deeper. There's a lot of excellent financial products and services being built at the moment. 

Thanks mate, well said. 

 

I expect @BenDeCosta and @GranDPapillon are retirees. Would be intersting to find their age(if they are not just trolls).

Even my children want some of their allowance in cryptocurrency. 

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29 minutes ago, 4MyEgo said:

The above said, out of curiosity, what guarantee do you have on getting your deposit back, or is this similar to the stock market, up she goes, down she goes, you still get your return on what you have invested but when it goes boooooom/down/done/dusted/collapsed, do you still get your deposit back, if the answer is yes, where do I sign up please.

I'm looking into the security at the moment. AS far as I can see so far Celcius and https://ledn.io/en are pretty secure, or as secure as a brick n mortar bank.

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2 minutes ago, zhounan said:

Why not investing some extra money in OMG Network which also has a part of the team in Bangkok?

I bought OMG for 20 baht 3.5 years ago and still have many, despite selling for around 700 baht. 

I was excited when they got a new CEO, related to former Finance Minister and when CP bought them. 

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23 minutes ago, Neeranam said:

I'm looking into the security at the moment. AS far as I can see so far Celcius and https://ledn.io/en are pretty secure, or as secure as a brick n mortar bank.

 

Banks can go bust, just have a look at 2008, can't go past government guarantees though.

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Posted (edited)
1 hour ago, Neeranam said:

I'm looking into the security at the moment. AS far as I can see so far Celcius and https://ledn.io/en are pretty secure, or as secure as a brick n mortar bank.

And bank/organisation who cannot spell Celsius or Lend correctly is off my list!    LOL

 

Opps, sorry, it was Neeranam who spelled Celcius incorrectly, the web page is OK.

Edited by KannikaP
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12 minutes ago, BenDeCosta said:

Neeranam, I completely respect your views on cryptocurrencies. I understand the arguments for and against them, and like 4MyEgo quite rightly points out, banks can also go bust, so even fiat currencies are not completely safe. However, I still regard any asset that can go up and down so much in a day with suspicion, as I suspect many people do. I know people have gotten very rich from them, but personally I would never invest in them, and would never advise anyone else to do so, unless it's with money that they can afford to lose.

  

This is about stablecoins, which are totally different. I have BUSD in Celsius. I buy 1 BUSD with 1 USD and the value remains stable. 10% is fine with me, for the moment. 

Cryptocurrencies are here to stay, I advise people to learn about them as it can be dangerous to buy if you know nothing about cycles. 

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Posted (edited)
2 hours ago, mjnaus said:

To everyone dismissing everything related to crypto as scams, please do yourself a favor and dig a little deeper. There's a lot of excellent financial products and services being built at the moment. 

LOL, it's a pipe dream, and if you had a little bit more experience in financial products and finance in general, you would see that Bitcoins and alt coins have all the pattern and signature of a bubble, or worse, a scam

 

it's not by chance that all the scammers and criminals are hot on Bitcoins and alt coins, you have to wonder why 🙂

 

and let's not forget those exchanges that miraculously got "hacked" with all their client holdings 🙂

 

yeah, bitcoins and alt coins are safe, despite all those high GPU pointless calculations 🤣

Edited by GrandPapillon
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35 minutes ago, Neeranam said:

  

This is about stablecoins, which are totally different. I have BUSD in Celsius. I buy 1 BUSD with 1 USD and the value remains stable. 10% is fine with me, for the moment. 

Cryptocurrencies are here to stay, I advise people to learn about them as it can be dangerous to buy if you know nothing about cycles. 

counterparty risk, ever heard of it? of course not 🙂

 

you will learn eventually, young padawan 🙂

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19 minutes ago, GrandPapillon said:

for every "millionaires" in bitcoins, you have a poor soul that lost plenty, never forget that

 

you can't make money grows on trees, and growing money on CPUs and GPUs is nothing more than a pipe dream 🤣

With BTC near $60,000, the only people who could have lost anything are those that bought a onth or sao ago at $62k and sold at $56k. Such people would be foolish to do that and I doubt any exist. Anyway, they would have only lost 10%. 

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25 minutes ago, GrandPapillon said:

counterparty risk, ever heard of it? of course not 🙂

 

you will learn eventually, young padawan 🙂

I am open to learning, are you old luddite 🙂 ?

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scams in 2013: issue new cryptocurrencies and get people's money from "ICO"s

scams in 2017: issue new tokens and get people's money from "ITO"s

 

modern scams: issue new stablecoins and get people's real US dollars for your fake digital dollars

 

 

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2 hours ago, mjnaus said:

There's a lot of excellent financial products and services being built at the moment. 

By you, I guess!

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3 hours ago, fdsa said:

"stablecoin" is when a shady company incorporated somewhere around British Virgin Islands issues a cryptocurrency and says "our cryptocurrency is backed by one thousand billion trillion real US dollars but we will not show you these funds. but you must buy our cryptocurrency because it is stable!"

and people really buy that "cryptocurrency" and spread misinformation around internets that it is really stable and you even could earn 10%+ interest per year by buying it.

what could possibly go wrong with that scenario, perfectly safe I say 🤣

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