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Mainsite -> concretesubmarine.com/ FORUM -> Seasteading Themes -> Crypto currency: What are your thoughts?
Post Info TOPIC: Crypto currency: What are your thoughts?
DennVafla


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Crypto currency: What are your thoughts?
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Hi,

I am a 51 years old engineer.

I worked with computers since I was 10 years old and still today I spend most of my time with technology: CAD/CAM/CAE, CNC, CMM, but also spectrum analysis, TV, CATV and SAT reception and distribution, emulators, electronics, etc.

Yet, I have to confess that I suddenly feel like being part of the "old generation": my younger coleagues at work (former students of mine), in their late 20ies, early 30ies, all use some form of crypto currency. They have credit cards linked to their crypto wallet, they invest some of their money in Bitcoin, Dodgecoin, Ethereal, etc. They talk about their portfolios and basically consider all of that normal.

I, on the other hand, have my money sitting on a bank account without any application (the time to read the contract is more valuable that the interest rate offered). I don't invest in the stock market, either.

The only thing I have done is to invest in real estate.

The reasons for being so avid against investing in crypt currency or stocks is that I cannot afford to lose the little money I have.

But, I could, like my colleagues, take up to 1000 Euro play money and do investments. Yet, somehow I never done it.

But now I am reading more seriously into this new financial world and my conclusions are:

1) Bitcoin does seem like a pretty good Ponzi scheme.
2) I wonder were the different wallet providers get the money to pay 10% to 16% interest rates from?
3) It sounds all so easy, yet so complicated and obfuscated: it is hard to really understand what is behind it, even if the currency is based on "open source".
4) I roughly understand what a blockchain is, but then, do I really? Does the broad public investing in crypto currencies really know what a blockchain is?

Take a look at www.helium.com. They have their own crypto currency HNT and you can mine it by providing a gateway for LoRaWAN. The point is that instead of solving math problems to earn crypto coins, you provide a "useful" contribution to LoRaWAN coverage. But: where does the money come from - up to 500 Euro/month per gateway? Why are the gateways so expensive (100 Euro hardware sold for 600 Euro with huge waiting lists, or buy it from scalpers for 1.500 Euro right away)?

I really would like to know what you guys think and do regarding crypto currency.



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Unikkanto


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Posts: 53
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Your tech background is impressive! It's interesting to hear about your colleagues diving into crypto. I get the caution about investing, especially when it's unfamiliar territory. Real estate sounds like a smart choice!
Crypto can seem daunting, but it's worth exploring. Meme tokens, like the one at luckyboo.dog, add a playful side to it. Starting small with play money could be a low-risk way to dip your toes in. Maybe chat with your colleagues for some insights, too!



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