Onecoin - CryptoCurrenncy

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  Diji1 on 12/12/2016 - 20:12

  Will it be the usual pump and dump scam?

  • 

    SydOzber on 12/12/2016 - 20:39

    was it the case with bitcoin ??

    • 

      Diji1 on 12/12/2016 - 21:15

      No just hundreds of other virtual currencies.

      • 

        SydOzber on 12/12/2016 - 21:16

        so it depends on which we chose

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    mskeggs on 12/12/2016 - 21:29

    It might be a different pump and dump scam!
    So far all crypto currencies are alike in that they are worth the same as photocopied currency. You can swap them for real money if you find someone willing to take them.

    • 

      mskeggs on 12/12/2016 - 21:38

      To be fair, I am slightly bitter because I had an opportunity to test an exchange site that would have ended up with me owning a few dozen bitcoins for $3 each but I declined because I felt it would be trivial for people to produce forked block chain currencies, devaluing bitcoin. How was I to know the facebook twins and some Chinese crooks would effectively underwrite bitcoin?
      Blockchains have some really interesting properties for identification, disambiguation, de identification/anonymity and related stuff, but some drawbacks when used as a currency. So at best they are a speculation, not a store of wealth.

      In other news i can also tell you about how I argued free email was a pointless exercise not worth our time and resources several years before hotmail sold for $600m.

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  bargainslut on 12/12/2016 - 22:21

  All cash will be obsolete in Australia within 2 years. Just worth bearing in mind when investing.

  It will probably start with the $100 bill being discontinued and so on.

  • 

    Baysew on 15/12/2016 - 08:29

    What impact to investing would that actually have?

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      mskeggs on 15/12/2016 - 08:34

      +1

      The concern is for investments in stressed conditions. If cash is unavailable, you can much more easily be caught up in a Cyprus style bank bail-in.
      There are rumours/conspiracy theories/speculations that this is the end game plan for quantative easing. I feel there are plenty of measures to counter this without bitcoin, and plenty of ways to stop bitcoin if the authorities perceive it as a threat.

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      bargainslut on 15/12/2016 - 15:51

      I agree with mskeggs, I'd also add in that confidence is paramount when it comes to investing and there has been a steady decrease over the last few years. Getting rid of cash makes bank runs much more difficult and is great for the government in the hunt for taxes.