Crypto.com Credit Cards

[iced]

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@Citylights18 wrote:

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The interest is in CRO but use of the debit card is in USD. You have to sell some of your CRO and convert to USD in order to use it to buy.

Its a percentage of CRO but its also an investment. The max supply is 100B so once that is reached the price will shoot up.

Its not really that risky, so long as you don't go for the Obsidian tier where its going to cost you 160,000 to buy into that. 

What I'd recommend if I was going to try it was to move 20,000 over to the account, collect stable coin and then buy into the one of the card tiers as the price become cheaper. Granted that the price has been above $0.06 all but 3 months of this year (March-May) and December where the price is right now is a pretty good time to buy.

You can say that the CRO is a risky investment but you don't have to put much on the line to stake a card. I wouldn't try it if I were strapped for cash but if you could spare 1600 or 16,000 for the token it could make a nice card. There is also a 12% stablecoin rate on USD if you just want to park your money in a higher earning account. No commitment to hold and you can take your money out anytime.

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I could also park my money in actual money or stocks in businesses that produce actual goods or services.

It's not the amount I put in to crypto that makes it risky or not; it's the fact that it is based on literally nothing except the aspirations of people. The only reason it has any value is because some people want it to have value and are willing to exchange goods or services for it. The second that interest fades below supply, whether it's capped at 1 or 100B coins, it becomes as valuable as an old file on my hard drive.

That is, it's valuation can swing wildly on a whim because it's value is a whim.

[wasCB14]

Browsing the Greater Fool Theory article on Wikipedia, three interesting "See Also" links stand out:

Tulipmania

Beanie Babies

Bitcoin

[Citylights18]

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@wasCB14 wrote:

There's no reason to assume high demand will still be there for a given cryptocurrency. Even for transactors who like the technology and are willing to leave the FDIC/SIPC covered parts of the financial system, there can always be a new ICO with a new cryptocurrency and faster transactions. In that sense, the supply of cryptocurrencies can be infinite.

Coinye West was a thing.

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This is like having the same conversation about Facebook 10 years ago. It was big but few understood that the next decade would killer for tech companies.

Bitcoin is at a $638 billion market cap, more than double the next 10 cryptocurrencies. Crypto is very much a follow the leader type industry the bigger players are way ahead in security. Especially when it comes to crypto wallets. Not to say smaller players can't have security but everyone is more comfortable sticking with bigger names.

https://coinmarketcap.com/

[Citylights18]

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@iced wrote:

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@Citylights18 wrote:

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The interest is in CRO but use of the debit card is in USD. You have to sell some of your CRO and convert to USD in order to use it to buy.

Its a percentage of CRO but its also an investment. The max supply is 100B so once that is reached the price will shoot up.

Its not really that risky, so long as you don't go for the Obsidian tier where its going to cost you 160,000 to buy into that. 

What I'd recommend if I was going to try it was to move 20,000 over to the account, collect stable coin and then buy into the one of the card tiers as the price become cheaper. Granted that the price has been above $0.06 all but 3 months of this year (March-May) and December where the price is right now is a pretty good time to buy.

You can say that the CRO is a risky investment but you don't have to put much on the line to stake a card. I wouldn't try it if I were strapped for cash but if you could spare 1600 or 16,000 for the token it could make a nice card. There is also a 12% stablecoin rate on USD if you just want to park your money in a higher earning account. No commitment to hold and you can take your money out anytime.

---

I could also park my money in actual money or stocks in businesses that produce actual goods or services.

It's not the amount I put in to crypto that makes it risky or not; it's the fact that it is based on literally nothing except the aspirations of people. The only reason it has any value is because some people want it to have value and are willing to exchange goods or services for it. The second that interest fades below supply, whether it's capped at 1 or 100B coins, it becomes as valuable as an old file on my hard drive.

That is, it's valuation can swing wildly on a whim because it's value is a whim.

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There is a lot more to crypto than just the asset prices. Investors are turning to crypto liquity pools to help fund the market. They get interest and utility tokens which can be moved to other markets where they can double dip for more interest.

It can be as high as a 50% ROI in a year. Play 50,000 that is 25,000 back or almost 2,000 of income a month in the liquidity pools.

[wasCB14]

Is there any way to distinguish what share of a cryptocurrency's transaction activity represents payments for goods and services...and what share is speculation (broadly defined)?

I can see the utility of a cryptocurrency over an unstable local currency in the third world. But if they have smartphones and a data connection, the value of crypto over electronic US dollars isn't so clear to me.