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Parrothead

Not really computers, but you need them to secure it!

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Parrothead

Good luck to them, in locating everyone who is using crypto for illegal activities. 

 

I have no reason to be anonymous concerning my purchases. In fact, I have used my passport and credit cards, on most exchanges, when registering. I am into crypto solely to make money off my investments, if possible. If not, it is fun anyway.

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andy

NBC warns against fraudulent digital coin schemes

 

 

A representative from the central bank warned yesterday of increased fraudulent activities linked to local firms promoting cryptocurrencies, claiming that because Cambodia lacks regulations surrounding their use, they remain a risky investment tool.

Speaking at the fourth annual macroeconomic conference on technology’s role in promoting financial inclusion, Chea Serey, director general of National Bank of Cambodia (NBC), alerted the audience to the risks surrounding the unregulated digital assets.

http://www.phnompenhpost.com/business/nbc-warns-against-fraudulent-digital-coin-schemes

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Parrothead

NBC warns against fraudulent digital coin schemes

 

 

A representative from the central bank warned yesterday of increased fraudulent activities linked to local firms promoting cryptocurrencies, claiming that because Cambodia lacks regulations surrounding their use, they remain a risky investment tool.

Speaking at the fourth annual macroeconomic conference on technology’s role in promoting financial inclusion, Chea Serey, director general of National Bank of Cambodia (NBC), alerted the audience to the risks surrounding the unregulated digital assets.

http://www.phnompenhpost.com/business/nbc-warns-against-fraudulent-digital-coin-schemes

 

That would involve sellers (in Cambodia) on sites like www.localbitcoins.com and the like. I only deal through exchanges, or through US based sellers. 

Edited by Paul

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Parrothead

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Oz Jon

Buying bitcoin is easy - selling maybe isn't/won't be?

 

Unfortunately, there is no substance/real-earning-capacity behind bitcoin......it's 100% sentiment!

And a "win-lose" market product (one trader's win is at someone else's expense - just like a lottery!).

 

This article suggests that this may be a good time to convert your bitcoins to "real" money and take your profit while you still can?

A rather plausible author!

 

<https://au.finance.yahoo.com/news/one-co-founders-bitcoin-com-091632190.html>

Edited by Oz Jon

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Oz Jon

I made this offer over on the Cebu Forum, but I figure that there may be interest here too, so I'll repeat it here:-

Enjoy! Smile!.... maybe get rich? (or wiser?)

..............................................................

 

I have just recently created a new crypto-currency called the "ThankU"

 

I'm willing to sell you 100 "ThankU" for US$100.

 

My expectation is that the "ThankU" will have appreciated to US$10 each by this time next week.

So, you can potentially make US$900 profit in a week when you find a buyer next week!

 

Truly, a bonanza! - Hurry, stocks are limited!

 

ps. the value has gone up already.

One of my drinking mates is offering me US$2 each for them! ... and there is a lot of other interest around the bar....

Someone just offered me a "Scotch-on-the-rocks" for one!....that's a good price! - I think I'll take it!

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Parrothead

Buying bitcoin is easy - selling maybe isn't/won't be?

 

Unfortunately, there is no substance/real-earning-capacity behind bitcoin......it's 100% sentiment!

And a "win-lose" market product (one trader's win is at someone else's expense - just like a lottery!).

 

This article suggests that this may be a good time to convert your bitcoins to "real" money and take your profit while you still can?

A rather plausible author!

 

https://au.finance.yahoo.com/news/one-co-founders-bitcoin-com-091632190.html>

 

Personally, I don't keep any Bitcoin, other than to use for selling / trading for other crypto. Well, I have some, but not enough to worry about if I were to lose it. Most, I convert to other coins. I have been trading crypto since half way through November. So far, I am pretty well ahead of the game. 

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Oz Jon

Personally, I don't keep any Bitcoin, other than to use for selling / trading for other crypto. Well, I have some, but not enough to worry about if I were to lose it. Most, I convert to other coins. I have been trading crypto since half way through November. So far, I am pretty well ahead of the game

Well, "So far, I am pretty well ahead of the game." is fine and probably true if you are just dealing in crypto "vaporware money"

The real test is finding a buyer who will take your crypto currency in exchange for "real money" (US$ would be a good choice) or maybe supply "real goods/services".

 

That's what I and that (rather smart) crypto- inventor guy (I quoted above) wrote about!

 

If you are enjoying playing with this stuff and can afford to lose real money doing it - fine - Enjoy!

 

 

But! .... "If in doubt, get out!".... (Confuseus, 560BC, 1 April, 3pm on a Monday)

Edited by Oz Jon

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Parrothead

 

 

The real test is finding a buyer who will take your crypto currency in exchange for "real money"

 

Never a problem. Just send it to an exchange where I can trade it for a fiat currency. I'm pretty sure I won't be doing that through a US based exchange. I will go to ANZ bank, or a bank based in another country, and open an account.

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Oz Jon

Never a problem. Just send it to an exchange where I can trade it for a fiat currency. I'm pretty sure I won't be doing that through a US based exchange. I will go to ANZ bank, or a bank based in another country, and open an account.

Is the exchange a buyer? (paying you fiat currency for your crypto currency?)

My understanding was that the exchange was primarily a broker - connecting buyers to sellers (and skimming a bit off the top for their effort)

 

The big risk in this game is that if/when "the proverbial hits the fan" (with the currently hyped-up market, even a modest drop in faith could be a trigger?), There could be shortage of buyers willing to pay fiat currency for crypto-currency and a lot of sellers wanting to get out.

 

Supply and demand means that a shortage of buyers and an excess of sellers pushes prices down.

That could easily get out of hand in this currently overheated market and lead to a rapid market collapse.

 

For anyone with only a small stake in this market  (which they can afford to lose) not a problem! - some you win! - some you lose! and you had fun.

 

Very serious though for anyone in the market deeper than they can really afford!

 

And a serious dent in the ego for some who thought that (with no need for effort or talent) they'd soon be multi-millionaires

Edited by Oz Jon

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