There's a YouTube channel called CoffeeZilla that has lots of in depth videos on that scam artist, plus many more that don't make front page news.
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Crypto currencies 101.....for us neophytes.
- Thread starter ferniesnow
- Start date
Finally figured out how crypto works
"A Simple Analogy of How The Bitcoin Works.
A lot of monkeys lived near a village.
One day a merchant came to the village to buy
these monkeys!
He announced that he would buy the monkeys
@ $100 each.
The villagers thought that this man was mad.
They wondered how somebody could buy
stray monkeys at $100 each?
Still, some people caught some monkeys and gave them
to this merchant, and he paid $100 for each monkey.
This news spread like wildfire and people caught monkeys
and sold them to the merchant.
After a few days, the merchant announced that he would
buy monkeys @ $200 each.
The lazy villagers also ran around to catch the remaining
monkeys!
They sold the remaining monkeys @ $200 each.
Then the merchant announced that he would buy monkeys
@ $500 each!
The villagers start to lose sleep! ... They caught six or seven monkeys,
which was all that were left and got $500 each.
The villagers were waiting anxiously for the next announcement.
Then the merchant announced that he would be going home for a week.
And when he returns, he will buy monkeys
@ $1000 each!
He asked his employee to take care of the monkeys he had bought.
The employee was alone taking care of all the monkeys in a cage.
The merchant went home.
The villagers were very sad as there were no more monkeys left
for them to sell at $1000 each.
Then the employee told them that he would secretly sell
some monkeys @ $700 each
This news spread like fire. Since the merchant would
buy monkeys @ $1000 each, there would be a $300
profit for each monkey.
The next day, villagers lined up near the monkey cage.
The employee sold all the monkeys at $700 each.
The rich bought monkeys in big lots.
The poor borrowed money from money lenders and
also bought monkeys!
The villagers took care of their monkeys & waited for
the merchant to return.
But nobody came!Then they ran to the employee.
But he had already left too !
The villagers then realized that they had bought the useless stray monkeys @ $700 each, and were unable to sell them!
The Bitcoin will be the next monkey business ...
It will make a lot of people bankrupt and a few people
filthy rich in this monkey business.
That's how it works."
"A Simple Analogy of How The Bitcoin Works.
A lot of monkeys lived near a village.
One day a merchant came to the village to buy
these monkeys!
He announced that he would buy the monkeys
@ $100 each.
The villagers thought that this man was mad.
They wondered how somebody could buy
stray monkeys at $100 each?
Still, some people caught some monkeys and gave them
to this merchant, and he paid $100 for each monkey.
This news spread like wildfire and people caught monkeys
and sold them to the merchant.
After a few days, the merchant announced that he would
buy monkeys @ $200 each.
The lazy villagers also ran around to catch the remaining
monkeys!
They sold the remaining monkeys @ $200 each.
Then the merchant announced that he would buy monkeys
@ $500 each!
The villagers start to lose sleep! ... They caught six or seven monkeys,
which was all that were left and got $500 each.
The villagers were waiting anxiously for the next announcement.
Then the merchant announced that he would be going home for a week.
And when he returns, he will buy monkeys
@ $1000 each!
He asked his employee to take care of the monkeys he had bought.
The employee was alone taking care of all the monkeys in a cage.
The merchant went home.
The villagers were very sad as there were no more monkeys left
for them to sell at $1000 each.
Then the employee told them that he would secretly sell
some monkeys @ $700 each
This news spread like fire. Since the merchant would
buy monkeys @ $1000 each, there would be a $300
profit for each monkey.
The next day, villagers lined up near the monkey cage.
The employee sold all the monkeys at $700 each.
The rich bought monkeys in big lots.
The poor borrowed money from money lenders and
also bought monkeys!
The villagers took care of their monkeys & waited for
the merchant to return.
But nobody came!Then they ran to the employee.
But he had already left too !
The villagers then realized that they had bought the useless stray monkeys @ $700 each, and were unable to sell them!
The Bitcoin will be the next monkey business ...
It will make a lot of people bankrupt and a few people
filthy rich in this monkey business.
That's how it works."
Its kind of like real estate speculation. Some people buy a house in hopes that it goes up in price a bunch and they can sell it too the next guy at a profit.
But some other people just want to live in the house and have a family.
Bitcoin is a currency and is intended for making transactions. Some people just are hoping to make gains though...
One of these activities drives.up the cost.of living for joe schmo and the other only effects the people involved.
Sounds like housing is the real monkey buisness. Lol. Not to mention the BOC can just change interest rates and print more cad currency on a wim..
They cant do that with bitcoin...
Nobody makes payments for 30 years to buy a fkn bitcoin.. your average villager is too stupid to figure any of this out though
and should probably stick to workin for the weekend...
But some other people just want to live in the house and have a family.
Bitcoin is a currency and is intended for making transactions. Some people just are hoping to make gains though...
One of these activities drives.up the cost.of living for joe schmo and the other only effects the people involved.
Sounds like housing is the real monkey buisness. Lol. Not to mention the BOC can just change interest rates and print more cad currency on a wim..
They cant do that with bitcoin...
Nobody makes payments for 30 years to buy a fkn bitcoin.. your average villager is too stupid to figure any of this out though
and should probably stick to workin for the weekend...
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jhurkot
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BILTIT
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mclean
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Buy gold
That wallet is a mystery. Probably the inventors. But nobody (well somebody does) knows who that is.
If the private key got lost somehow. Those coins may never be recovered
jhurkot
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jhurkot
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Probably Satoshi's wallet (Hal Finney).
BILTIT
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NoBrakes!
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goddammit Johnny now I'm headed down the rabbit hole lol
jhurkot
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NoBrakes!
Active VIP Member
Funny, my brother has some BTC and sent me a screenshot of the last few days yesterday. I hope he makes some cash but that’s only if you sell… says he saw a lady in town pumping an envelope of hundreds into the local BTC machine for 10 minutes lol
Ya i kinda wish i would have sold last time when it hit 80g cad. And rebought when it went down to 25.
Hard to time the highs and lows though.
I think it could go into the 6 figures someday, so ill hang onto it until that happens.
I dont need the money,so if it goes to 0 oh well.
mclean
Active VIP Member
What ai kinda thing? I need something good to make back all my weed loss money hahaha
BILTIT
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BILTIT
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Japan Banking Giant to Begin Using XRP For International Payment Services
SBI Remit, a subsidiary of SBI VC Trade and a part of SBI Japan, is set to make waves in the world of international remittance services by partnering with Ripple and SBI Ripple Asia to offer a novel solution that employs XRP, a digital asset known for its efficiency in cross-border transactions...
www.thecryptoalert.com
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