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The Rise of Cryptocurrency
#1
2021 is the year Crypto currency is finally being taken seriously by the establishment.

Bitcoin has reached a price of over £25,000 and looks like it will keep on climbing. Other coins such as Ether are predicted to outperform Bitcoin during the next 12 months.

This is the financial revolution that was started because of the recklessness of the banks. People are taking control of their own wealth and taking it out of the hand of the banks.

This is just the beginning.


Quote:MicroStrategy held a total of 70,470 bitcoin tokens as of Dec. 21. The company spent $1.13 billion on the tokens, which are worth $2.6 billion at today's bitcoin prices.
Martin ~
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#2
What is bitcoin? I keep getting emails saying I can be very rich by doing virtually nothing, forgive me by being sceptical.
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#3
(15-Jan-2021, 11:34 AM)noel Wrote: What is bitcoin? I keep getting emails saying I can be very rich by doing virtually nothing, forgive me by being sceptical.


Hi Noel
You are right to be sceptical. Don't respond to any get rich quick emails, they are from scammers.

Bitcoin is store of value and something you can have complete control of. The problem with banks is that they can hold onto your money without reason and they like to tell you what you can and can't do with it.
With bitcoin you are in control. As long as only you have your private keys, no one can touch your crypto.
The banks don't like it of course, because it removes them from the position of control.

This year, crypto technology is going to grow and start replacing some of the older systems in place.
Even Facebook and google are under threat from new decentralised applications.
Martin ~
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#4
This is a good simple explanation of Bitcoin and the blockchain.

Martin ~
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#5
Thanks Martin, there have been adverts showing bitcoin investments on one of the TV morning shows showing Holly Wilborough gasping in amazement as the £200 investment or whatever increased in value in a very short time. Fake news as Trump might say?
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#6
(23-Jan-2021, 02:07 PM)noel Wrote: Thanks Martin, there have been adverts showing bitcoin investments on one of the TV morning shows showing Holly Wilborough gasping in amazement as the £200 investment or whatever increased in value in a very short time. Fake news as Trump might say?

Hi Noel

Martin Lewis, Dragons Den. They are all used in these scams. Having said that there is far more fraud committed using banks than Bitcoin. 

HSBC is stopping customers depositing crypto profits from exchanges in a staggering display of hypocrisy.

Quote:In March 2014, three men kidnapped Reynaldo Pacheco and bludgeoned his head with rocks, leaving the 44-year-old father of a young daughter dead in a creek bed in California’s Napa County. Local authorities determined that his murder was a consequence of an investment fraud that targeted low-income Latino and Asian immigrants around the world.

Like other victims of the World Capital Market scheme, or WCM, Pacheco energetically promoted the deal to relatives and acquaintances. When the Ponzi scheme collapsed, an unlucky investor decided to have him killed.

Four days before Pacheco was beaten to death, compliance officers at the global banking giant HSBC raised a warning about millions of dollars flowing into a big-dollar account in Hong Kong controlled by the scammers. It was at least the third in a series of so-called suspicious activity reports that the bank’s internal watchdogs had lodged about WCM over several months.

Yet HSBC continued to handle the Ponzi network’s massive flow of dirty money into — and out of — its accounts at the bank.

HSBC was profiting from an international criminal scheme even while on probation for having served murderous drug cartels and other criminals. HSBC had admitted to U.S. prosecutors in 2012 that it had helped dirty money flow through its branches around the world, including at least $881 million controlled by the notorious Sinaloa cartel and other Mexican drug gangs.

https://www.icij.org/investigations/finc...ring-fine/
Martin ~
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