Is cryptocurrency for real?

[DrownInside]

With the rise of the value of most cryptocurrency, is this worth investing for? Any thoughts??

[donna]

With the rise of the value of most cryptocurrency, is this worth investing for? Any thoughts??

There's been a bit of talk about bitcoin on here - it was a popular topic in 2017 and it's been mentioned recently in a couple of discussions See here for a link to a search on the topic.

cheers,

Donna

[curium]

Cryptocurrencies may go up in value, but many investors see them as mere speculations, not real investment. Just saying..

[klauster]

Speculation is guesswork making decisions without supporting information or understanding – and that is particularly true when it comes to “crypto” a revolutionary technology for smart money transactions (e.g. Bitcoin) and smart contracts for processing smart business (e.g. Ethereum). The same thing happened when the Internet was created a while ago.

The current banking system is obsolete if not broken. It takes me by ASB – SWIFT 3-4 days to transfer $$ paying a bill in EU. By using crypto is happens instantly. Now, you can speculate how long you can pay with FIAT money created from thin air.

If you can earn taxable income without dealing with unreliable tenants, property managers, trades people and govt regulations – and that by sitting at the beach – would you call it “speculation”?

[jenny_pt]

^^ agree. Digital currencies are less about investment and more about currency.

Blockchain which is the digital ledger is finding its way into mainstream systems esp. in financial transactions and real estate transactions and it's used for the cryptocurrency transactions.

Lots of articles on blockchain uses in business here.

cheers,

Jenny

[DrownInside]

Thank you for the inputs. I will take time to check all the links you provided. I really don't have enough knowledge regarding digital currencies and I guess the links would be a great help for me. There are lots of promising crypto coins right now, not just bitcoin and they are also in a bull run. So I guess it will take time for me to understand more about them.

[klauster]

^ Digital currencies are less about investment and more about currency.

Cryptos stand for a complete new global computer network and technologies replacing in future the Internet. Learn the differences between digital and crypto currencies, and central and de-central currencies.

When understanding properties, crypto currencies behave similar, values because of supply and demand or purpose to use them (as payment, asset - buy & hold, smart contracts to resolve problems...)

Starting point is learning to preserve your investments (secure online behaviour, safe crypto storage (wallet) and common sense). Like properties - learning by doing in small steps.

[OwnerIffy]

Thank you for the inputs. I will take time to check all the links you provided. I really don't have enough knowledge regarding digital currencies and I guess the links would be a great help for me. There are lots of promising crypto coins right now, not just bitcoin and they are also in a bull run. So I guess it will take time for me to understand more about them.

Yeah, it is really hard indeed to understand. I have joined a bitcoin site and my money keeps increasing but runs like a turtle.

[Jeffa]

Cryptocurrencies are a store of value.

If Bitcoin becomes the Reserve currency of the world:

1 Bitcoin equals approximately $56,000 nzd today

I will charge you 1 Bitcoin per year to rent my property.

Landowners always win no matter what currency is being used...so someone like myself or governments are still taking your earned wealth.

[donna]

Thank you for the inputs. I will take time to check all the links you provided. I really don't have enough knowledge regarding digital currencies and I guess the links would be a great help for me. There are lots of promising crypto coins right now, not just bitcoin and they are also in a bull run. So I guess it will take time for me to understand more about them.

The chap knows his stuff and says start with BC and Ethereum

cheers,

Donna