Cryptocurrencies

[PHC1]

By the way, while it is true that Bitcoin has no tangible or intrinsic value other than the speculative worth, much like the Tulip Bulbs of the Tulip Mania in Holland, the world's FIAT money system is also nothing but worthless paper and metal coins that are nothing more than FAITH in the government that prints it.

History has shown us what streets littered with paper currency that has become worthless due to hyperinflation looks like, ( German Weimar Republic) or what a loaf of bread that cost in the billions (Zimbabwe)

[brad225]

Originally Posted by 62caddy

Except there’s a bit of a difference between a fledgling company and this which I’m sure you’d agree.

Totally agree 62.

[PHC1]

Tesla buys $1.5 billion in bitcoin, plans to accept it as payment

https://www.cnbc.com/2021/02/08/tesl...n-bitcoin.html

[PHC1]

Dogecoin rallied 37% in 24 hours to a record high of $0.084945 on Monday, according to data from CoinMarketCap.

Dogecoin, based on the “doge” meme, was initially started as a joke but has since gained a following.

Elon Musk, Snoop Dogg and Gene Simmons have tweeted about the cryptocurrency recently. https://www.cnbc.com/2021/02/08/twee...cord-high.html

[PHC1]

Feb 08 2021

1 Bitcoin equals
46,660.90 United States Dollars

[piolaxo]

Originally Posted by PHC1

Feb 08 2021

1 Bitcoin equals
46,660.90 United States Dollars

Crazy! Elon Musk feeding the fire today .

[PHC1]

Bank of New York Mellon Corp. , the nation’s oldest bank, is making the leap into the market for cryptocurrencies.

The custody bank said Thursday it will hold, transfer and issue bitcoin and other cryptocurrencies on behalf of its asset-management clients. In time, BNY Mellon will allow those digital assets to pass through the same plumbing used by managers’ other, more traditional holdings—from Treasurys to technology stocks—using a platform that is now in prototype. The bank is already discussing plans with clients to bring their digital currencies into the fold.

[PHC1]

Mastercard jumps in
The credit card company is bringing bitcoin to the checkout counter, announcing Wednesday that it will support "select cryptocurrencies" directly on its network at some point later this year.
Although Mastercard (MA) was short on specifics, the company said the process might work something like this: When a customer wants to buy an item with bitcoin, Mastercard's crypto partners will convert the digital currency into traditional currency and transmit the funds over Mastercard's network.
This change "will allow many more merchants to accept crypto" as well as "cut out inefficiencies, letting both consumers and merchants avoid having to convert back and forth between crypto and traditional [currency] to make purchases," Mastercard said.

[Cohibaman]

Isn’t the whole point of crypto to get away from the man being able to track your purchases?

[PHC1]

Originally Posted by Cohibaman

Isn’t the whole point of crypto to get away from the man being able to track your purchases?

No doubt for the small fraction of society it is. We are however a mostly cashless society. Use much cash lately? Debit and Credit cards are by far the most common forms with digital payments also on the rise.

Only a matter of time before currency disappears all together and we become a true cashless society anyways with the Big Brother tracking ever move. It won't bother 98.5% of the population.