What are your views on digital currencies/mining?

Redlips

Redlips

Well-known member
I am reading a few books on digital currencies/bitcoins as my golden rule is don’t invest in something you don’t know about.

I have started to mine for pi and bee digital currencies. Free to do by downloading the app. Risk free unless your a tinfoiler and your worried that your date will be hacked by the Chinese Government.

Two schools of thought on bitcoins. One it is the future in that apple will be following the lead of Tesla and buying billions of dollars worth and the other view is that it is a Ponzi scheme.

I don’t know. I would like to make a small investment and if it goes belly up I am not too much out of pocket.

has anyone on fmttm made a killing on bitcoin?
 
Only dabble if you can afford to lose .

id buy gold personally, your not going to make much but it’s something, an item, that you can’t dip into and waste .
 
I've started reading up aswell and joined the Crypto subreddit. I'd recommend you do that too. TTC's advice is good, always important to diversify.
 
Wilf said:
mining - what is that, how do you do that?.
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It’s essentially using your computer to do the processing for the currency to operate. You earn small processing fees for each transaction your computer processes and it builds up over time. Some people earn a lot but you need very powerful computers to make it worthwhile as the major players have huge networks of devices which are constantly being upgraded.
 
bear66 said:
Why on earth should we be consuming electricity to produce something that is valueless?

120 TWh a year for bitcoin alone. A disgrace on humanity.
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Is it valueless? It is a currency that you can spend and it doesn't have to produce coins and notes using metal or plastic.
 
Do it. It’s the modern day gold rush. I’ve been involved for 4 years a d made significant gains from a relatively small investment. Around 1500% across my coins
 
bear66 said:
Why on earth should we be consuming electricity to produce something that is valueless?

120 TWh a year for bitcoin alone. A disgrace on humanity
Click to expand...
Wilf said:
mining - what is that, how do you do that?.
Click to expand...
Go to the App Store and download the app Called pi. You press a mining button once a day. The currency is in stage 3 of 4. It is all explained on the app.
 
Redlips said:
I am reading a few books on digital currencies/bitcoins as my golden rule is don’t invest in something you don’t know about.

I have started to mine for pi and bee digital currencies. Free to do by downloading the app. Risk free unless your a tinfoiler and your worried that your date will be hacked by the Chinese Government.

Two schools of thought on bitcoins. One it is the future in that apple will be following the lead of Tesla and buying billions of dollars worth and the other view is that it is a Ponzi scheme.

I don’t know. I would like to make a small investment and if it goes belly up I am not too much out of pocket.

has anyone on fmttm made a killing on bitcoin?
Click to expand...
I know a few people who have made 7 figure profits from crypto
 
Any currency or stock is only worth what people agree to trade it for. People are currently paying over £33k per Bitcoin, so to suggest it’s valueless is nonsense. It may be riskier than the pound or dollar, but it’s becoming more widely used around the world every day.
 
There is another thread on this board called 'Cryptocurrency' that I started last month that you might want to take a look at for advice.
 
Redlips said:
What are your views on bee and pi? What was your initial outlay?
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I havent mined anything I just bought the coins through crypto platform and store on a ledger wallet. I have the pi app but I’ve not really used it tbh so not the best person to advise on that. Just buy them it’ll be simpler
 
Mining is pointless unless you invest in major computer or mining gear which is very expensive and uses a lot of electricity.

There is so much more than bitcoin.

Join Binance which is by far the best exchange. At the moment you can transfer your spare cash from your bank account free.

www.binance.com

Bitcoin Exchange | Cryptocurrency Exchange | Binance

Binance cryptocurrency exchange - We operate the worlds biggest bitcoin exchange and altcoin crypto exchange in the world by volume
www.binance.com www.binance.com

This is a referral link. Which will give you 5% commission.

In binance you there is loads of tutorial videos and learning tools. I am and have been buying defi coins (decentralized finance) and staking them (basically putting them into a pool and earning interest) which pays double figure interest.

Learn about decentralized finance! Google it.

Learn about HNT (Helium.com)

My daughter made her first deposit the other day bought BNB and dropped it into a pool to earn interest. She is already up over 100%. Timing eh.

Any questions all be glad to answer.

Remember only put in cash you are prepared to put into high risk investments. Always learn about what you are going to buy into. There is literally loads of projects.
 
It’s anonymous isn’t it?

Is it the modern currency of criminals?

By the way, not inferring that any of the above posters are criminals.
 
Londons_Moggie said:
Do it. It’s the modern day gold rush. I’ve been involved for 4 years a d made significant gains from a relatively small investment. Around 1500% across my coins
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And in the gold rush (both of them) it wasn’t the prospectors who made the money, it was the people who sold the shovels and pans And of course the banks.
 
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