You can't buy Australian made if they don't make it here can ya?
I couldn't buy Australian made computers can I?

How about importing money individual?

LUNA, which I sold last week at $8, (and I'm still displeased about)
and which I bought in January at 80cents
has pulled back a little from $16.50, it did hit $17.50
That's double your money in a week, 100% gain.

You're not going to earn that in interest or a term deposit or house price revaluation or shares.

Do you all understand that you could've IMPORTED money to the value of 'EVERYTHING YOU HAVE'?

Do you have a problem with importing cash to benefit our nation?

"Not if they import what they buy"
- You could say rightly that for ANYONE couldn't you?

Seems like you WANT to FIND something wrong with cryptocurrency.
Maybe you already have some kind of per-existing bias against it.
If so what is it?

And does Australia tell its kids at school "Buy crypto, you'll never have to work again unless you want to"?

No mate, the public school curriculum prepares those kids for a life of service to the kids who go to private schools, and who will never do menial work.

Armchair,
>And does Australia tell its kids at school "Buy crypto, you'll never have to work again unless you want to"?
No it doesn't. Nor does it tell them "bet on Port, you'll never have to work again unless you want to"!

Crypto is essentially a zero sum game. You can only make money from it if some other sucker is willing to pay more for it than you did.

As there's no shortage of suckers, you're unlikely to be the last to make a lot of money from it before its value drops to zero. I don't begrudge you for doing so, but it's not something that will improve the world.

"Crypto is essentially a zero sum game. You can only make money from it if some other sucker is willing to pay more for it than you did."

It's the same argument as shares Aiden, what's the difference?
You wouldn't speak the same way about the ASX200 would you?
The issue is the same thing when it comes to each coins or tokens underlying value.

Some coins and tokens have more underlying value in the cryto-space than others, and different coins and tokens do different things.

Like Coles or Woolies shares are different to say Dominos or Stockland or Afterpay.

Take my now sold DEXE for example, what does it do?
It's copy-trading with API integration.
What does that mean?
Well what that means is I can set my buying and selling up to EXACTLY COPY other successful traders trades, but I don't have to do anything.
I don't get any notification that says 'Buy this now' when old mate did it 2 minutes ago, because of the API integration, my trades on my exchange will automatically happen.
When that other successful trader places an order, and order automatically gets placed for me on my exchange.
I pay the trader in DEXE.

Totally different usage to say MANA
http://decentraland.org/
Where you coins are used to buy assets in a computer game.
- That's all that coin is, purchasing assets in a computer game.
I paid 8c for MANA on the 6 January, I bought 1060 for $84
- The price today was $1.03, my 1060 MANA are now worth $1090.
- That's $1000+ profit off an $84 investment, in 2 months.
- And obviously, I wish I'd bought more.

And what about this Aiden?

http://www.forbes.com/sites/billybambrough/2021/02/03/visa-reveals-bitcoin-and-crypto-banking-roadmap-amid-race-to-reach-network-of-70-million/?sh=25c79978401c

Crypto now has mainstream adoption.
Which means soon I'm going to be able to pay for my groceries at the checkout with whatever cryptocurrency I choose.
Hell, I can even buy a Tesla right now with Bitcoin.

All the employees of tech companies already own crypto.
So what happens when one or two of Apple and Google, Netflix etc and decide to make ALL of their employees, board members etc stinking rich by getting the companies to buy large chunks of bitcoin itself?
Then every other tech company will do it.

Bitcoins not unlimited you know, there's only so much.
At this point, we'll see Bitcoin go to 250k+

All one has to do is double their money 10 times to turn $10,000 into 10 million, you know double it once 10,000 becomes 20,000 etc.
Do that 10 times and you have 10 million.

Tell me Aiden can you put you shares in a bank and earn interest on them?
In crypto you can.

I've shown you all just 3 coins that have gone up way more than double.
All of them at least 10X in the space of a few months.

In crypto right now there's just under 9000 coins trading on approx 450 exchanges.

Armchair,
Because companies can issue and buy back shares, the share market can be thought of as a machine for turning people's desire to speculate into productive investment that funds companies. And the dividends to shareholders ensures that shares have value other than what someone else is willing to pay for them. With billions of dollars being made in profits, it certainly isn't a zero sum game.

People have tried to make crypto useful, but whatever uses it has can typically be achieved more easily without cryptocurrency. I concede MANA may be an exception.

>So what happens when one or two of Apple and Google, Netflix etc and decide to
>make ALL of their employees, board members etc stinking rich by getting the
>companies to buy large chunks of bitcoin itself? Then every other tech company will do it.

More likely every other tech company will conclude it's too late to do so profitably!

More to the point, tech companies are in the business of production rather than speculation.

Yes, the value of Bitcoin can double, but it can also halve. It's intrinsically worthless, and when people realise the emperor is naked, its value will drop to near zero.

Hey Aiden,
You mightn't get rich on Bitcoin even if it goes up another 5 times in value, but altcoins that can make a lot of money.

I've not been paying attention to crypto for the last week because I'm still angry I sold my other coins when I did, which cost me probably about US 5 grand or more.
LUNA almost got to just under $21 from when I sold it for $8 a week or so back.

Right now I've just noticed another coin I own has gone up a bit.
I bought 1000 Basic Attention Token - BAT for 31c on 23 January and it hit $1.18 this morning. I probably should've gotten out and bought it back for $1 but I'm not really paying attention to it.

I need to be more disciplined in my trading and learn more.
I want to join a trading group, and get in with more people who know more than me.
There are a few youtube channels that focus on trading from a technical analysis point of view as well as other channels that discuss fundamentals of good and bad coins.

Even when I'm not looking at my portfolio of coins lately it's still going up, about an extra US$1000 more than last week, my AUD6k is now US14.5 but it should be a whole lot more.
We both know I'm not well knowledged on financial stuff.

- But I could've opened my own eBay store with that 5 grand, as an extra idea I've been considering.
You only need an ABN, a $25mth eBay store with some stuff for sale and you can easily get accounts with suppliers.

You know anyone could easily have easily bought 10k worth in this environment, waited for it to double, sold half and gotten their money back, and then just been playing with profits, i.e no chance whatsoever of losing.

I still think blockchain and smart-contracts are the beginnings of computers replacing humans in decision making though and that could have greater ramifications for society down the track.