BUYING BITCOIN, WHAT YOU NEED TO KNOW



One Reply to “BUYING BITCOIN, WHAT YOU NEED TO KNOW”

  1. I feel that Bitcoin is a pump and dump scam, with no real commodities to back it up, that will inevitably defraud the greater mass of investors. It also seems to be getting difficult to access one’s Bitcoin funds, let alone trade with them, also a very time-consuming process, and even to verify identity to prove that you even have any Bitcoin in your account, and there are even massive thefts by hacking taking place, not a good sign at all. I reckon people would be better off just sitting it out and watching Bitcoin burn out and crash, and maybe look at other crypto-currencies instead that have more solid ethics behind them.

    I think Bitcoin is unethical anyway, and I am deeply suspicious of it, as to speculate and make money out of thin air at the expense of suckers lower down the feeding chain is just cruel and selfish and nasty, it is the embodiment of what is at the heart of the collapse of our culture today, though I fully understand how evil usury, fractional reserve banking, real estate speculation scams etc. are too, and am entirely in favour of the total banning of usurious economic arrangements.

    Someone has to suffer for others to get rich like that, and one must question why Bitcoin is so valuable, when one could just agree to trade solid commodities for solid commodities instead, as some countries are now doing, as Russia has done recently, avoiding normal money and Bitcoin anyway.

    A large proportion of the ‘commodities’ tradable by Bitcoin might well be those found in the darker areas of the internet, the illegal sort where buyers keep their identities secret for obvious reasons, for whom the cost of a commodity is not necessarily a problem.

    Other crypto-currency, like the Venezualan Petro, may show some promise, if people can learn to trust it and invest in it, as it is backed by real commodities, like oil, natural gas, and gold, though petrol itself may soon become completely worthless if the corrupt worldwide oil industry itself is made redundant by water-powered cars, or other simple technologies that are being put forward by other ingenious inventors (as it should be), like the Indian motorcycle that runs on acetylene gas produced by mixing water and calcium carbide to produce the gas.

    But in the short term, oil is still a tradable commodity, even though it is now linked with underweight births and permanently brain-damaged babies, dementia in older people, asthma and premature deaths from the traffic exhaust fumes.

    https://www.researchgate.net/post/how_can_an_engine_work_using_acetylene_gas_as_a_fuel

    https://www.vox.com/world/2017/12/4/16733508/petro-venezuela-cryptocurrency-maduro-sanctions

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