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Showing 6 of 6 results by BlueHeadLizard
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Topic
Board Politics & Society
Re: Why do you still accept FIAT? Why have they not all been hung?
by
BlueHeadLizard
on 06/08/2019, 14:45:50 UTC
Why do you still accept FIAT?

When salary starts to be paid in crypto, then it will to be adopted and Fiat will die. We are probably a long way of from that  But it just takes one currency crash in a major economy (e.g, Germany the 20's, Russai the 90's)  and then crypto adoption could happen overnight. If that is next week or in 20 years who knows.
Post
Topic
Board Bitcoin Discussion
Re: If they can print unlimited fiat, can they just not buy up all the bitcoin?
by
BlueHeadLizard
on 06/08/2019, 14:16:48 UTC
why would they print too much money just to buy bitcoin?
they would do that to kill Bitcoin by monopolising it and snuffling it out. Then they use their currency, existing Fiat or new weak Centralised cypto, to keep control of the means in which work is paid for.  This preserves the wealth of historic cumulative property (Intellectual Property, Company shares, Govt expense flows for defence, Buildings,etc) owners as the Property owners pay for the work in low value currency. See other posts on Money supply.

If workers are paid in BTC, it spreads the wealth around as workers will receive pay in something understandable (21m) real value.
Post
Topic
Board Bitcoin Discussion
Re: If they can print unlimited fiat, can they just not buy up all the bitcoin?
by
BlueHeadLizard
on 06/08/2019, 14:00:08 UTC
Hey, If they can print unlimited fiat, could they just not buy up all the bitcoin?

Yes  the Fed, Central Banks, Banks and superrich can and will do that. So apparently undermining Bitcoinis purpose as a real reliable money for everyone, as it is no longer available to normal people. But Bitcoin could still work if workers insist on being paid in Bitcoin, instead of 'printed' Fiat.
 
Central Banks, Banks and Super-rich would buy and 'hoard' Bitcoin and so apparently nothing has changed in terms of wealth distribution.  But over time they would have to release their BTC  to pay worker / soldiers etc  for real work that needs doing. So for the first time since Gold / Silver was the main currency,  workers / soldiers / etc  would receive pay in something with real value.

What is likely to blow this scenario is this if the Central banks issue their own centralised blockchain cyrpto, where they control the math in which they can create as much as they want. They force Jane+Joe Public to switch their Fiat to ther new Digital Fiat, with marketing its great, for you, bla bla bla. Then they ban old USD and Bitcoin as legal tender.  Like the Gold confiscation in the 1930's (https://en.wikipedia.org/wiki/Gold_Reserve_Act).

To see which way it goes will depend on work starting to get paid in BTC. Apparently the millennials bought up in the internet age could drive that by insisting to be paid in BTC. But they could equally be brainwashed into a new Centralised Central bank Digital Fiat currency.
Post
Topic
Board Beginners & Help
Re: I am feeling generous today: some info and advice to very beginners
by
BlueHeadLizard
on 03/08/2019, 15:39:12 UTC
I'm a beginner so useful advise. Thanks. I add some practical points for beginners:

1. Choose your cryptocurrency: Being on this forum I assume you have already chosen Bitcoin (BTC).    

2. In your country, find out your currency to BTC gateway. to move from your currency to BTC and back. Your currency to BTC gateway must work for you , be trustworthy, fast and not too expensive. You should have to go through a cryptocurrency exchange so find out their registration requirements and you get money to them and back out. Or you may be able to pay country currency into a cryptocurrency cash machine that will credit your Bitcoin Key. there are quite hefty fees as there are the machines and complex programs to ensure security. Or someone else who you give cash to who is on Bitcoin and so can credit your Bitcoin Key. This step 2. is extremely important so that you maintain control over your BTCs and can access them to make payments and move your BTCs back into your currency for local payments.

3. Take a look a bitcoin.org. and the internet to choose a  wallet that suits you. You can even have a mobile phone or paper wallet too, for small amounts!
https://bitcoin.org/en/bitcoin-for-individuals
Post
Topic
Board Beginners & Help
Merits 1 from 1 user
Re: Best country for crypto
by
BlueHeadLizard
on 03/08/2019, 10:30:26 UTC
⭐ Merited by o_e_l_e_o (1)

Switzerland, very good for crypto business, specially so called crypto valley in the Zug district (canton).


Switzerland so so good for businesses,

 But otherwise Switzerland not really
- very few suppliers (i've not found any) accepting Bitcoin.
- not recognised as a currency by the Govt.. It not illegal but not recognised as currency.
- for normal people no Bitcoin exchange with CHF - BTC trading pair. Swissquote has crpytocurrency gateway but only in USD and EUR.
- some Swiss start up Bitcoin exchanges have already failed and so comments about users BTC being blocked. see cryptocompare.
- on the Swiss Federal administration site it does not even return any search results for Bitcoin.

The CHF is a very strong currency reducing the need for Bitcoin, inside Switzerland at least, so adoption is probably going to be very slow. Also banking lobby including credit cards very strong so will slow down adoption / recognition. Rather than cyrpto currency they have invested in and  launched their own very good  CHF moble payment system Twint which is linked to your CHF bank account.  

Yes Zug canton is an exception and you can even pay your taxes in Bitcoin there.

Also there is a good BTC cash machines network to buy and sell CHF-BTCs. OK the spread is high 7%, so  but I guess that is fair as these machines are expensive to build and maintain. https://coinatmradar.com/operator/117/bitc-sarl-bitcoin-atm-operator/

 
Post
Topic
Board Beginners & Help
Re: Best country for crypto
by
BlueHeadLizard
on 03/08/2019, 09:32:36 UTC
Not Switzerland, as difficult to find exchanges that trade the CHF-BTC pair. I have not found any CHF Bitcoin exchange inside Swizterland yet for normal people, look like there isa CHF to BTC gateway for high wealth individuals and financial traders Dukascopy Bank. 

So you have to trade your CHF into EUR or USD which is admin heavy and costs you more for your CHF-BTC round trip fees costs. There is good network of BTC ATMs though although watch out as the CHF-BTC spread  is very high, looks like circa 7%.