Reasonably safe Crypto funds when traveling.

[cemdev]

Originally Posted by skipperpete

Dunno about South America but here in Singapore there are NO crypto ATM’s and in Malaysia there are 4. Two in Ipoh, one in Petaling Jaya and one somewhere in Johor. My associates who have businesses here and throughout the region are often approached by customers who want to pay in Crypto…. All decline.
Whichever way you convert crypto to services or cash here is severely limited but I’m sure that an online arrangement between a seller and a buyer exists where cash ends up in your bank account.

Thanks for that. The BTC ATM thing I've never used. Even when available the fees have been astronomical. But for example here in Argentina, where they're accustomed to inflation there are plenty of money changers who do it. The rest of the world is starting to catch up on the inflation front, so I guess we'll see. For now, using official on/off ramps works ok, especially from crypto to fiat (harder now the other way), no issues with that, so will keep going that way until the world catches up.

[tbodine88]

Crypto is unsafe at any speed

The stories of people losing their savings via crypto abound through our the internet

Beware

Enlightening discussions on the subject can be heard on "grumpyoldgeeks.com"

[JAFO]

Originally Posted by tbodine88

The stories of people losing their savings via crypto abound through our the internet

So it's no different than the stock market... is that what you're saying?

[s/v Jedi]

Originally Posted by tbodine88

Crypto is unsafe at any speed

The stories of people losing their savings via crypto abound through our the internet

Beware

Enlightening discussions on the subject can be heard on "grumpyoldgeeks.com"

Nobody lost their money via crypto. They became millionaires or billionaires. The evidence is staring you in the face, simply look at the exchange rate.

The reason that people lost their money is because of stupidity: they got scared and sold their bitcoin when it was down (sell low) and missed the ride back up. Or they didn’t use a good quality hardware wallet, allowed their money to be parked on a website wallet instead of safely in their own hardware wallet

[Dockhead]

Originally Posted by s/v Jedi

Nobody lost their money via crypto. They became millionaires or billionaires. The evidence is staring you in the face, simply look at the exchange rate.

The reason that people lost their money is because of stupidity: they got scared and sold their bitcoin when it was down (sell low) and missed the ride back up. Or they didn’t use a good quality hardware wallet, allowed their money to be parked on a website wallet instead of safely in their own hardware wallet

You assume that over the long term it will never go down. That's a really big assumption with no foundation.


It's not the same as the stock market, the value of which is based on earnings of the companies represented. When you own shares, you own the right to a share of the profits of that company. Some companies fail, but diversified enough there is very little risk that you lose money over the long term, because those companies produce income and most of them don't fail.


BTC doesn't produce income of any kind and does not represent ownership of any asset which produces income. There is no technical reason why one BTC should be worth even one cent. It's pure speculation. Some people think "blockchain is the future", and ergo owning BTC means owning a piece of the future, but this is false -- BTC is not a company and BTC does not own the blockchain. Being so large, BTC could hypothetically become a medium of exchange, but it has not so far in all these years. Blockchain in some form or another might some day become a widespread medium of exchange, but BTC itself, which is not identical with blockchain, has not shown to have any particular usefuless for this, all the more since the value expressed in goods and services fluctuates so extremely -- a very bad quality for a medium of exchange.



That being said, BTC can be fun speculation, and there are ways to make money with it, as I have. It's now got large enough market cap that it's somewhat predictable. If you buy it when it's down -- without trying to guess where the low point is, then you have decent chances of making money since it now fairly reliably swings up and down. Not according to a predictable schedule, of course, or predictable magnitude either, but when it's down a lot then your odds are good that it will be up again compared to that.


I invest in stocks the same way. I grow my portfolio when the "fear index" is high and the market is down and people are pessimistic. I don't buy stocks when the market is ebullient and everyone else is buying; I hold or cut down during those times. I never try to predict high or low points, which is a fool's errand; just general "ebullient" or "depressive" is as fine as I cut it. I have not bought U.S. stocks in more than a year; instead I've been buying China which everyone is so down on these days. The Hong Kong exchange has been a bloodbath; great time to buy.



This is crude but it has worked very well for me over the years. I am replacing all of the electronics on my boat next week with a bit of money I took out of my BTC holdings last week , as I consider it basically casino winnings so free money, not investment income. And I will continue to gradually sell it off during this ebullient period. And I never keep more money in BTC than what I could afford to lose and then laugh about, and I can't now be in the red with BTC because I've already taken out more profit than I ever "invested". Because there is no technical reason whatsoever for BTC not to fall to zero in one day. It is NOT a store of value; it's purely an object of speculation; a casino chip.

[more]

BTC and other crypto is simply Tulip mania Dutch: tulpenmanie.
also produce mor CO2 from all yacht in world together. and guverment must tax this product like other staff on market including carbon tax.
and also becouse nothing bring on market for sombody make money sombody must lose money,real money