Anyone here day trade Cryptocurrency?
- Thread starter BlockInlay
- Start date
How many homes had the internet in the early 90s?
How many people had mobiles on the late 80s?
How many people went foreign holidays in the 60s?
How many gas stations existed in 1910?
Things are evolving all the time. Just now the barrier to entry is knowledge on how to access and use it but that will pass.
My 90 year old gran isn't interested. My dad is but it being complicated puts him off. Guys my age are happy enough to dip our toes in. Once the young team get on board it'll be full steam ahead.
You're talking about how it's not widely used.
It will be, it's just not filtered down to the people who will use it yet.
Lerxst
spaghetti and blankets
No I'm talking about why it's not widely accepted by businesses as a common currency. Not why joe consumer isn't using it.
Edit: and I'm also not talking about business like the bakery on your town main street. I'm talking about retail at scale. But, many of those same considerations would exist for small scale retailer if they were to have cryptocurrency as a primary/significant form of customer payment.
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smorgdonkey
Kick Henry Jackassowski
-Visa has entered into a project.
-Elon has already stated that Bitcoin would be taken for Tesla sales (and then pulled that back based upon who knows what...perhaps political, perhaps related to how many 'green credits' he is getting, perhaps so he could assist in dumping the price so that he could buy more, etc.).
-eBay has stated that they are looking at how they can work crypto in as an option for buyers.
-Apple has stated pretty well what eBay said.
Those are just 4 'little ones' from 2021 off of the top of my head.
A quick Google will tell you that Microsoft, Home Depot, Starbucks, Overstock.com, Whole Foods, among others already do.
Nobody has stated that it's widely viable yet so I don't really get your point. Unless you are trying to say that as it scales, retail at scale will also scale(?). But we know that. It's on the cusp of exploding.
You know what...who is really going to carry a $500 phone around with them, all of the time? This sounds like a question from the 1980s and if someone was telling me about it then, I'd say "not many people". And I would have been big time wrong. Then later on in the 1990s when the first person who I knew had a cell phone, there weren't that many towers...I still thought that it was ridiculous..."oh, you can call if you are in that area but as soon as you leave that area the thing doesn't work". Now there is coverage everywhere.
Major correlation between these 2 technologies and how people accept/understand them.
Lerxst
spaghetti and blankets
I'm simply pointing out where cryptocurrencies are today vs how they need to evolve to become a significant factor in commerce. Any business can accept a form(s) of cryptocurrency today because it amounts to an insignificant portion of their revenue with little financial impact compared to their fiat currency revenue. I would break this down in more depth but we're still not on the same page at all... this has become like dealing with a religious cult that can't see past their dogma.
smorgdonkey
Kick Henry Jackassowski
In my posts I am always talking about it being in infancy...it's a technology of potential...of the future.
...and those are just from the first 3 pages. It's ALL about future. This is like Amazon when they just sold books online...only probably bigger.
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Again it's a calculated risk that it will take off. If you bought vhs stocks in the 80s you'd be laughing.
smorgdonkey
Kick Henry Jackassowski
This one is an interesting one. The company called Ripple has a long history for a crypto company. Its coin or currency is XRP. Do a little reading about it and maybe watch a video or three...DON'T pay attention to any of the people saying that it will go to $10,000. There are 100 Billion XRP in existence. In order to go to $10G the market cap would reach $1 quadrillion. Just not possible. Anyway, to the pertinent stuff.
The Securities Exchange Commission has had a case against them for quite some time now and it seems to be getting closer to being settled. Many feel like Ripple will win but they also feel that XRP's appreciation has been stifled/muted/killed for a very long time because of this case hanging over the company so if the case goes in favor of Ripple, the price could take a major jump.
Don't buy based on just what I have said here, this is just scratching the surface. It would be great if you read a little about it and decided from that. Informed people think that if they win the case it could jump to $12 or so...maybe $20 if it goes crazy. Idiots on YouTube seem to think $10G and $100G are possible but I think that thy are just people who like to get views on their videos by saying outrageous things.
Full disclosure: I bought some XRP for $0.44 Canadian back when I first bought Bitcoin. I picked up a little more recently because I had some $ in an exchange account.
The Securities Exchange Commission has had a case against them for quite some time now and it seems to be getting closer to being settled. Many feel like Ripple will win but they also feel that XRP's appreciation has been stifled/muted/killed for a very long time because of this case hanging over the company so if the case goes in favor of Ripple, the price could take a major jump.
Don't buy based on just what I have said here, this is just scratching the surface. It would be great if you read a little about it and decided from that. Informed people think that if they win the case it could jump to $12 or so...maybe $20 if it goes crazy. Idiots on YouTube seem to think $10G and $100G are possible but I think that thy are just people who like to get views on their videos by saying outrageous things.
Full disclosure: I bought some XRP for $0.44 Canadian back when I first bought Bitcoin. I picked up a little more recently because I had some $ in an exchange account.
smorgdonkey
Kick Henry Jackassowski
Another aspect that is important to keep in mind IMO is that investments now are likely to be a slow burn.
Many 'experts' think that this bull run isn't over but I am inclined to think that we're going into crypto nuclear winter which will have crypto people waiting for some broader assimilation and/or the next market cycle.
Many 'experts' think that this bull run isn't over but I am inclined to think that we're going into crypto nuclear winter which will have crypto people waiting for some broader assimilation and/or the next market cycle.
smorgdonkey
Kick Henry Jackassowski
I totally believe in stonks!
I can't a speak for anyone else but that's my gameplan.
If it skyrockets short term then cool but really I just got sick of my bank saying "you could do more with your savings, it's sitting there doing nothing" their suggestion was buying into stocks and shares ISAs that would hold my dough up for 2-5 years or longer and I wouldn't be in control of what my money was invested in.