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milestogo

(18,068 posts)
Sat May 22, 2021, 12:14 PM May 2021

Do you use cryptocurrency? [View all]

A cryptocurrency, crypto-currency, or crypto is a digital asset designed to work as a medium of exchange wherein individual coin ownership records are stored in a ledger existing in a form of a computerized database using strong cryptography to secure transaction records, to control the creation of additional coins, and to verify the transfer of coin ownership. It typically does not exist in physical form (like paper money) and is typically not issued by a central authority. Cryptocurrencies typically use decentralized control as opposed to centralized digital currency and central banking systems. When a cryptocurrency is minted or created prior to issuance or issued by a single issuer, it is generally considered centralized. When implemented with decentralized control, each cryptocurrency works through distributed ledger technology, typically a blockchain, that serves as a public financial transaction database.

https://en.wikipedia.org/wiki/Cryptocurrency


39 votes, 1 pass | Time left: Unlimited
Yes
6 (15%)
No
33 (85%)
Huh?
0 (0%)
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Disclaimer: This is an Internet poll
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Do you use cryptocurrency? [View all] milestogo May 2021 OP
No but I do have to listen to "that guy" at the office who dreams of getting rich quick with it nt Shermann May 2021 #1
I wish I'd bought some underpants May 2021 #3
Me too. My "guy" just got his clock cleaned last week. Bristlecone May 2021 #18
Did he fess up to it? Shermann May 2021 #19
I asked how it was going; He didn't want to talk about it. Bristlecone May 2021 #21
Mine too. He didn't sink much into it though. róisín_dubh May 2021 #40
No, and I can't imagine the circumstances under which I ever would. Gidney N Cloyd May 2021 #2
Exactly right FakeNoose May 2021 #20
I still believe they are a scam ... PBC_Democrat May 2021 #4
I bought 1 Bitcoin in 2015 just to see what it was. Kablooie May 2021 #5
It smacks of a pyramid scam to me. SergeStorms May 2021 #6
It's being used primarily as an investment tool today. Kablooie May 2021 #7
Perhaps it was "meant to be a currency," and perhaps it wasn't. PETRUS May 2021 #11
Interesting read. SergeStorms May 2021 #13
Yes, it's unknown territory Bucky May 2021 #22
No, but I use something completely exotic that most people seem never to ever have used DFW May 2021 #8
I don't use it but I trade it. WarGamer May 2021 #9
No transaction fees? SergeStorms May 2021 #14
plenty of transactions fees and yes you do have to report every single trade tandem5 May 2021 #30
Beaucoup paperwork. SergeStorms May 2021 #31
Not really WarGamer May 2021 #32
I've been trading crypto for 8 years... tandem5 May 2021 #37
I just do it on RH... WarGamer May 2021 #38
BTC is building a shoulder right now, so it will do tandem5 May 2021 #39
you're right... I'm almost back. WarGamer May 2021 #45
No. We tried to tell our son about the great tulip mania in 17th century Holland... Hekate May 2021 #10
Massive systemic flaw in the tulip analogy. Tulips lack fungibility. Celerity May 2021 #16
Of course the fungibility of cryptos is another way of saying pass it on to the next sucker Bucky May 2021 #23
you clearly do not understand blockchain and crypto Celerity May 2021 #24
The difference between currency backed by governments versus backed by Dude On Internet Bucky May 2021 #26
The US government can never cover the debt via taxation Celerity May 2021 #27
Thanks for trying to explain it to us plebs BannonsLiver May 2021 #28
LOL TraceNC May 2021 #34
I do not consider myself rich in terms of a material measurement of wealth, so you will have to Celerity May 2021 #35
you're 100% correct WarGamer May 2021 #33
Well said. I tried explaining this to some people but was nowhere near as eloquent FlyingPiggy May 2021 #46
I sure wish I had listened to my cousin and bought last year. FlyingPiggy May 2021 #12
yes RandiFan1290 May 2021 #15
Nope and didn't buy into tulips either whistler162 May 2021 #17
that tulip analogy, as I stated above, is profoundly flawed Celerity May 2021 #25
The fact that mining it sucks up an enormous amount of energy Ron Green May 2021 #29
This The Revolution May 2021 #41
I don't use it nor do I invest in it. As a finance professional, I don't quite understand how to In It to Win It May 2021 #36
Thank you. milestogo May 2021 #42
It would be extremely difficult for crytocurrency to gain a foothold as a use for everyday currency In It to Win It May 2021 #43
Cryptocurrency has been around for a few years now and I'm still not convinced that it isn't... Tommy Carcetti May 2021 #44
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