Cypto / Bitcoin do you do it ??

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NDWDave Feb 2021 9:50pm, 14 Feb 2021 14,061 posts	0 NDWDave In a WW2 type scenario where I had to flee a country overnight, a couple of gold bars stashed would be handy to rebuild in another country. Not helpful in a complete zombie apocalypse scenario Bitcoin could in theory be a digital equivalent as I don’t think an country could freeze it in the same was as say a USD bank account
Paul N Feb 2021 10:01pm, 14 Feb 2021 2,158 posts	0 Paul N I've an option on a zombie apocalypse derivative. So I've that position adequately hedged.
BarefootEm Feb 2021 10:15pm, 14 Feb 2021 2,638 posts	0 BarefootEm I've dabbled, and found some proper dodgy stuff out there... A website and app called Binance for example... You can get money in, convert it, fine, well very complicated, but if you try and withdraw again your card isn't valid. Frustrating, thankfully I didn't invest much as a test. I know several people who have made a great deal through it, but I'll stick to my stocks and shares, I understand those much better!
cerid Feb 2021 7:44am, 15 Feb 2021 490 posts	0 cerid Gold is actually useful for some things too; it has physical properties that can be put to work. To reference my environmental concerns and try to get you all to stop again, please read: ofnumbers.com I shall quote this part: “ One estimate is that around half of all data center energy usage is now tied to Bitcoin mining. In fact, the energy consumption of Bitcoin is more than the combined energy use of Amazon, Google, Microsoft, Facebook, and Apple. And the e-waste that is generated annually from discarded mining equipment is roughly equivalent to what Luxembourg throws in the trash each year.” In short, if you use crypto currency then you might as well just stop anything else “eco” that you are doing because you are pointlessly sacrificing the world to gamble. Just buy shares or lottery tickets instead.
runningmumof3boys Feb 2021 8:09am, 15 Feb 2021 4,200 posts	0 runningmumof3boys Blimey I had no idea about the eco side of the mining. That’s pretty scary
runningmumof3boys Feb 2021 8:23am, 15 Feb 2021 4,201 posts	0 runningmumof3boys Barefootem My boyfriend has a credit card that’s linked to his cyptowallet. He can convert his crypto into “real money” (fiat wallet) and has had no issues spending it anywhere. (Is that the kind of thing you mean ??)?
BarefootEm Feb 2021 8:47am, 15 Feb 2021 2,639 posts	0 BarefootEm I had no idea about the eco side of it either, I'll be looking into this more... As a family who recycle everything, drive an EV and generally do as much as possible to be as green as possible this does not sit right with me at all...
The_Saint Feb 2021 9:26am, 15 Feb 2021 6,740 posts	0 The_Saint Yes I accepted many posts ago that gold has valuable properties in terms of not tarnishing, being an excellent conductor as well as being incredibly malleable and ductile (O level chemistry quote there), but that does not explain why it is £1300 per ounce other than this being a belief system. Don't get me wrong, I agree that Bitcoin is evil for the environmental and sustainability reasons.
Dave.O Feb 2021 6:35pm, 16 Feb 2021 26,816 posts	0 Dave.O Well, I don't get why people are going on about zombie attacks and being a survivor? Don't you remember this time last year toilet paper has been proven to be the most valuable asset in those situations?
Dooogs Feb 2021 6:51pm, 16 Feb 2021 6,473 posts	0 Dooogs There's an argument (not sure if it stands up to scrutiny) that the environmental damage caused by bitcoin specifically is a sunk cost and that there are relatively few bitcoins left to be mined. The eco angle is definitely a moral rational not to invest in new cryptocurrencies based on mining, though.* *Are any cryptos based on a different method of generation than mining / blockchain?