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So who's preps include Cryptocurrency?
#1
I have been listening, reading, and learning a lot about this.

Bitcoin, Etherium, Lightcoin, Dash, Blockchain technology and more.  

Absolutely a part of my "Finacial" preps moving forward.
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#2
If I can't hold it in my hand, I don't want it !
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#3
(07-09-2017, 10:23 PM)Bob Wrote: I have been listening, reading, and learning a lot about this.

Bitcoin, Etherium, Lightcoin, Dash, Blockchain technology and more.  

Absolutely a part of my "Finacial" preps moving forward.

Explain what those things are and why someone would want to use them.
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#4
The Blockchain is a digital networking technology that is bullet proof and incorruptible. It tracks transactions, yet is distributed across the web.

Bottom line: It is everywhere and nowhere at the same time - but anything that happens on it is verifiable and true. It is how banks do transactions to a degree. They "Block" any changes to the account as soon as any action is initiated. That makes it so two people can't simultaneously goof an account. This is similar - but instead of your bank's network, it is on the web. Lot more to it than that, but that is a very simple explanation.

Bitcoin is an electronic fiat currency. By fiat, I mean that it is backed by nothing. By the way - neither is your US dollar anymore (no gold, no nothing). It is handled digitally via the Blockchain. It requires absolutely no bank whatsoever.

Dash, Etherium, and other such things are variations on Bitcoin.

Why do you care? Well, a few reasons.
1. No bank fees! Banks bleed us dry based on debt and transactions fees. Booo banks!!!! They have created a new slavery by building wealth from debt and using the public as a battery to feed themselves.
2. Verifiable and untraceable. Keeps .Gov out of your business. especially in cases where they don't belong. You know - the Traitor Act - I mean "Patriot" Act....
3. Try to leave the US with $10,000 when SHTF. With Bitcoin - you have a ton of options include the simple memorization of a code in your head. Walk on a plane, walk off in another country, logon, collect $10,000. Interesting that our "Free" country won't let you leave with your money whenever you want. Hmmmmm.....
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#5
I never saw bitcoin as a prep sort of thing, more of a stock sort of thing. If you bought one coin that was 500 a couple of years ago, it is worth what 2 or 3k now. I heard it dropped a bit a few weeks ago, so to me it sounds more like a stock that you can spend anywhere in the world at places that accept it.

Also when I think of when SHTF, anything digital is could be out the door. Even if the computers were not hit, then trading it for good around my small town will be useless. There is no place in this small town that is setup for that kind of currency, none of the newer shops even have apple pay, and few have the chip reader.

it's always good to have options, but i guess it mostly depends on how you live your life and where you live would depend if it is something that will work for you.
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#6
(07-10-2017, 12:37 PM)Tom Mac Wrote: If I can't hold it in my hand, I don't want it !

So you keep all of your savings and retirement funds under your mattress?

(07-18-2017, 01:39 AM)Bob Wrote: The Blockchain is a digital networking technology that is bullet proof and incorruptible.  It tracks transactions, yet is distributed across the web.

Bottom line:  It is everywhere and nowhere at the same time - but anything that happens on it is verifiable and true.  It is how banks do transactions to a degree.  They "Block" any changes to the account as soon as any action is initiated.  That makes it so two people can't simultaneously goof an account.  This is similar - but instead of your bank's network, it is on the web.  Lot more to it than that, but that is a very simple explanation.

Bitcoin is an electronic fiat currency.  By fiat, I mean that it is backed by nothing.  By the way - neither is your US dollar anymore (no gold, no nothing).  It is handled digitally via the Blockchain.  It requires absolutely no bank whatsoever.  

Dash, Etherium, and other such things are variations on Bitcoin.

Why do you care?  Well, a few reasons.
1. No bank fees!  Banks bleed us dry based on debt and transactions fees.  Booo banks!!!!  They have created a new slavery by building wealth from debt and using the public as a battery to feed themselves.
2. Verifiable and untraceable.  Keeps .Gov out of your business.  especially in cases where they don't belong.  You know - the Traitor Act - I mean "Patriot" Act....
3. Try to leave the US with $10,000 when SHTF.  With Bitcoin - you have a ton of options include the simple memorization of a code in your head.  Walk on a plane, walk off in another country, logon, collect $10,000.  Interesting that our "Free" country won't let you leave with your money whenever you want.  Hmmmmm.....

You are free to leave with whatever amount of money you want.  You just may have to declare it.
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#7
Cowboy1964
(07-10-2017, 12:37 PM)Tom Mac Wrote: If I can't hold it in my hand, I don't want it !

So you keep all of your savings and retirement funds under your mattress?

(07-18-2017, 01:39 AM)Bob Wrote: The Blockchain is a digital networking technology that is bullet proof and incorruptible.  It tracks transactions, yet is distributed across the web.

Bottom line:  It is everywhere and nowhere at the same time - but anything that happens on it is verifiable and true.  It is how banks do transactions to a degree.  They "Block" any changes to the account as soon as any action is initiated.  That makes it so two people can't simultaneously goof an account.  This is similar - but instead of your bank's network, it is on the web.  Lot more to it than that, but that is a very simple explanation.

Bitcoin is an electronic fiat currency.  By fiat, I mean that it is backed by nothing.  By the way - neither is your US dollar anymore (no gold, no nothing).  It is handled digitally via the Blockchain.  It requires absolutely no bank whatsoever.  

Dash, Etherium, and other such things are variations on Bitcoin.

Why do you care?  Well, a few reasons.
1. No bank fees!  Banks bleed us dry based on debt and transactions fees.  Booo banks!!!!  They have created a new slavery by building wealth from debt and using the public as a battery to feed themselves.
2. Verifiable and untraceable.  Keeps .Gov out of your business.  especially in cases where they don't belong.  You know - the Traitor Act - I mean "Patriot" Act....
3. Try to leave the US with $10,000 when SHTF.  With Bitcoin - you have a ton of options include the simple memorization of a code in your head.  Walk on a plane, walk off in another country, logon, collect $10,000.  Interesting that our "Free" country won't let you leave with your money whenever you want.  Hmmmmm.....

You are free to leave with whatever amount of money you want.  You just may have to declare it.

Not really....
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#8
"If I can't hold it in my hand, I don't want it ! "
So you keep all of your savings and retirement funds under your mattress?


Come CB...you know that was in ref to digital like Bitcoin... tho I see BC as sort a stock like another mentioned

BTW, I do have some bitcoins.... matter of fact I do have the tokens coins in copper,bronze , silver,gold that are out there on the market...but they are just what the bitcoins would look like if real.  I can hold them.

[Image: s-l1000.jpg]

As to keeping all my monies at home, that's not smart either.  But i do keep more cash at home than most I know.... it does pay off at times like during Sandy when there was no power.
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#9
"Why do you care? Well, a few reasons.
1. No bank fees! Banks bleed us dry based on debt and transactions fees. Booo banks!!!! They have created a new slavery by building wealth from debt and using the public as a battery to feed themselves.

I don't think my credit union charges fees.

2. Verifiable and untraceable. Keeps .Gov out of your business. especially in cases where they don't belong. You know - the Traitor Act - I mean "Patriot" Act....

Good point, but what gives Bitcoin and similar virtual currencies their value?

3. Try to leave the US with $10,000 when SHTF. With Bitcoin - you have a ton of options include the simple memorization of a code in your head. Walk on a plane, walk off in another country, logon, collect $10,000. Interesting that our "Free" country won't let you leave with your money whenever you want. Hmmmmm.....

Collect $10,000 of what from whom? Or do you just print it on your computer? Obviously I don't really get the concept behind this.
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#10
Credit Unions are becoming more "bank like" everyday. But I agree there - better thank banks, and my main 'main stream' choice

They get value the same as any other currency: People are willing to exchange them for goods and services. There is absolutely no reason anyone has to accept dollars. If the world woke up tomorrow and said "The US is bankrupt - they owe too much. We no longer accept dollars". They would be worthless too.

It's a digital transaction. Just like you can transfer money from a Bank account to someone, or go to a financial exchange, you can get Bitcoins etc. to and from all sorts of places - including banks (but probably not credit unions - haha) electronically just by knowing the account and passwords.
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