Cryptocurrency

Wonder if we could have a discussion about crypto currency since
Bitcoin is in the news a lot.

Do you see it as wise or lucrative investment ?
Would you invest in it ?

Personally, I’m not a fan of it and view it’s use
by criminal elements as detriment to law enforcement and enabling bad actors.

Interestingly enough, the Fed will apparently be considering introduction of
a Cyber currency in a future meeting. That sounds promising to me, but not sure
we can ever do away with physical currency.

I have a couple of thoughts:

  • The amount of electricity that’s used worldwide for crypto mining is embarrassing, to the point where it comes very close to warranting an outright ban on environmental grounds.
  • It’s disheartening that the only real use of blockchain technology that I’ve seen so far are play money and NFTs.
  • Crypto mining and the pressure it’s put on the GPU market is the reason I’ll probably never build my own PC, and that makes me sad.
  • If I had dropped $200 on BTC when I first heard of it, I would be close to being able to retire. I’m not even 30 yet. That’s bananas.
  • We’re going to have a sketchy stoner millionaire class for the next generation, and I’m curious to see what happens with that. It has potential to be hilarious.
2 Likes

I’ve not investigated the teraflop hours( electricity + cooling) required for currency mining
or even how that may grow over time. I need to educate myself on that aspect of it more. :flushed:

Obviously it is a speculators dream and fortunes can be made in this crypto currency craze,
And lost apparently.

Will China’s negative position on this currency kill it ? Is that a good thing
or bad thing ? Can the West respond, or should respond, in kind ?

The whole NFT thing was news to me ( very embarrassed now !) and seems Really SILLY.
I couldn’t ever imagine throwing “real” money at that. But I may live to regret that view :frowning:

I invested in crypto when it was low. Bitcoin, ethereum, lite coin and a couple others. It’s a little volatile for comfort but the rewards when you buy first are life changing.
I don’t trade it i hold it also. Have been for a while now. I do think it’s the currency of the future. It’s too big now not to be adapted.
Wish i had bought Bitcoin when i first heard about it also would be buying UH a roof for TDECU.

1 Like

Glad you brought up point number 2. Blockchain is awesome!

©Copyright 2017 Coogfans.com