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 Iraq moving to Bitcoin

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radjad
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PostSubject: Iraq moving to Bitcoin   Sun Jan 07, 2018 3:38 pm

Anyone else hear that Iraq will be going to Bitcoin?  Venezuela and others are moving to the crypto currencies.
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PostSubject: Re: Iraq moving to Bitcoin   Sun Jan 07, 2018 3:40 pm

They're going to lose- Bitcoin's the biggest joke since the flame broiled bagel-It will crash very soon, and when it does, look out-
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PostSubject: Re: Iraq moving to Bitcoin   Sun Jan 07, 2018 3:42 pm

They keep saying bitcoin is going to crash, but it sure is going strong in many places.  The gov't must think it is a viable currency, since they are going after bit coin holders and wanting them to pay taxes on it. 


I find the whole crypto currency to be very interesting.  

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PostSubject: Re: Iraq moving to Bitcoin   Sun Jan 07, 2018 3:47 pm

They say it's going strong, so people will invest, and when it finally goes down, everyone invested in it will be broke, that's why they tell people to invest- They don't care about you, all they care about is your money, and taking it from you under false pretenses-
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PostSubject: Re: Iraq moving to Bitcoin   Sun Jan 07, 2018 3:51 pm

@radjad wrote:
Anyone else hear that Iraq will be going to Bitcoin?  Venezuela and others are moving to the crypto currencies.


Iraq's CBI and others have put out warnings. Here's a recent article...


~~~~~~~~~~~~~~

The Central Bank refuses to deal with the currency of Bettkin




Twilight News

Sunday, 3 December 2017

The Central Bank of Iraq, on Sunday, refused to deal with the currency Bitcoin Bitcoin, warning that the dealers will be subject to the tightening of the law on money laundering.

"The Bitcoin coin is a virtual e-commerce that trades on the Internet only without a physical presence. It is used to buy online and supports payment using the form of the cards," he said in a statement.

He pointed out that this currency involves several risks that may result from circulation, especially with regard to electronic piracy and fraud, although there is no vogue within Iraq, so this bank confirms that it should not be used and subject dealers to the provisions of the Money Laundering Law No. 39 of 2015 and related laws about this.


http://www.shafaaq.com/ar/Ar_NewsReader/f49f6af5-03b0-49af-a6ec-8a648af96c7f
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PostSubject: Iraq moving to Bitcoin   Sun Jan 07, 2018 3:54 pm

Actually the predictions are all over the place for Bitcoin and the crypto currencies.  More and more countries, companies and institutions are accepting cryptos. To be able to conduct transactions bypassing the banking system is increasingly attractive to all.  Contrary to Terbo I think adopting Bitcoin would be a good move for Iraq. Presently, it has more value than the dollar, and will keep growing in value.  The captains of industry, ie. Bill Gates say that Bitcoin is better than currency. 


 www.bloomberg.com/news/videos/2014-10-02/gates-says-hes-very-happy-with-microsoft-ceo-nadella-video




And, as it makes its way more and more into the mainstream it will continue to grow in usage and value.
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PostSubject: Re: Iraq moving to Bitcoin   Sun Jan 07, 2018 4:01 pm

Iraq is having a hard time just with the oil prices. How do you thing they will fare with the wild swings?


Since Iraq is a pegged currency, how would bitcoin back their money supply?
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PostSubject: Re: Iraq moving to Bitcoin   Sun Jan 07, 2018 4:06 pm

It wouldn't, but might help them get robbed of it- Enter Maliki- Twisted Evil
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PostSubject: Iraq moving to Bitcoin   Sun Jan 07, 2018 4:11 pm

My answer is what does Iraq have to lose? It's currency is worthless and always will be.  Bitcoin gives them a currency that has growing acceptance and value. Plus, everyone wants to break away from the centralized stranglehold governments and banks have. I feel the cryptos are the future.  Banks will be a thing of the past.
https://www.youtube.com/watch?v=l6Obc_cJba4
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PostSubject: Re: Iraq moving to Bitcoin   Sun Jan 07, 2018 4:20 pm

Most of us have been here for years, and have plunged into the big pit of dinar bullshit and despair, and crypto currencies are just making centerstage on the exotics market- It IS designed and doomed to fail-A 'get in, get out' prospect, if you will- If you don't think so, more power to anyone that buys or has it, but you're going to lose what you invest, it is a guaranteed fail prospect, that's why all the so called pros tell you to invest, as they have made their money already, and they know it's going to go down like the Bismark, but they're NOT going to tell you that--When this goes to hell, they'll come up with another exotic currency- Hell, buy some of each, if it trips your fancy, All I'm saying is, is I won't do it- Not enough money, and NOT enough time-I tried to warn y'all-
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PostSubject: Re: Iraq moving to Bitcoin   Sun Jan 07, 2018 4:23 pm

If I had known about BitCoin when it first came out, at that low low price, I would have gotten into it.  When I learned about bitcoin, it was already on the upswing in pricing and out of my league, plus, I just didn't understand about the whole "MINING" thing about bitcoin.  Now, it is much too expensive for me. 

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PostSubject: Re: Iraq moving to Bitcoin   Sun Jan 07, 2018 4:23 pm

radjad,


I the first video you presented, Bill gates was talking about the Bitcoin technology, not Bitcoin itself.


What could Iraq purchase with Bitcion right now? Who are the venders that they could use?
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PostSubject: Re: Iraq moving to Bitcoin   Sun Jan 07, 2018 4:26 pm

Just about every country's currency is worthless, except the U.S, Canada, England, and Austrailia, and a couple of others-The dollar is worth just about .63 cents- What is the dinar worth, just for shits and giggles? 1/10 of a cent PER dinar- You couldn't buy a coat of armor for a gnat's ass with that, come on, bitcoin isn't going to work, either, so, when that dies out, and the next one comes along, and it will, who's going to be the suckers on that sinking ship, too? I guess, on a more positive note, you gotta give them credit for trying-Anything to get them out of hawk-Hell, IF I was in their shoes, I'd probably think about it-


Last edited by Terbo56 on Sun Jan 07, 2018 4:45 pm; edited 1 time in total
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PostSubject: Re: Iraq moving to Bitcoin   Sun Jan 07, 2018 4:31 pm

Trust me, IF I had known, I would have, too, but doing it now would be suicide, and when the last 'buffalo on a nickel' has been squeezed, 'til it shits, so to speak, it is going to tumble like a runaway boulder downhill- And I , for one, am not going to stick my neck out, just to get it chopped off like that, no 'fn' way I'm gonna be on that runaway ride-
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PostSubject: Re: Iraq moving to Bitcoin   Sun Jan 07, 2018 4:48 pm

AND, Rambler Nash, Thanks for the Bettkin {Bitcoin} article- It just may save some peoples asses down the road! :yes:
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PostSubject: Re: Iraq moving to Bitcoin   Sun Jan 07, 2018 4:52 pm

Radjad,


I have another question for you. What happens when the coin issuers go belly up?
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PostSubject: Re: Iraq moving to Bitcoin   Sun Jan 07, 2018 4:57 pm

Rambler, don't make me say it......
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PostSubject: Re: Iraq moving to Bitcoin   Sun Jan 07, 2018 7:30 pm

If you have watched the news recently you may have heard about tremendous gains in bitcoin. You may have thought about investing in this cryptocurrency. If everyone is getting rich off of this investment why not invest and make money too? It seems like a sure thing, right? People are dumping all kinds of money into this with the hope of getting rich quick. No one is being informed of the risks involved, and after investing in the dinar I am getting feelings of déjà vu. So allow me to give a brief overview and history of bitcoin. and let me explain some of the risks involved with this investment.
First it should be noted that unlike the dinar, investors have made money with bitcoin. Investors have also lost money. People have made money by mining bitcoin, which is also known as “earning”. This cryptocurrency has even been used in commerce. Now let’s discuss the history and the risks.

https://iraqcurrencywatch.com/2017/12/09/the-bitcoin-phenomenon-part-1/

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PostSubject: Iraq Moving to Bitcoin   Sun Jan 07, 2018 7:59 pm

Bitcoin is rapidly gaining acceptance everywhere, ie. Japanese gov't just announced accepting Bitcoin as legal tender, etc. etc. It's never too late to get in.  I just have a little bit of my portfolio in it.  It will keep rising!
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PostSubject: Re: Iraq moving to Bitcoin   Sun Jan 07, 2018 8:41 pm

One can only hope...... ask the 8 hemademe couch
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PostSubject: Re: Iraq moving to Bitcoin   Sun Jan 07, 2018 8:54 pm

(sigh) 1st post here, but this has got to be said.

Those of you that think Bitcoin is going to crash are totally missing something.  

Everything that you say crashes because "they" are planning for it to, are missing the whole point that cryptocurrencies are not tied to any particular "they." They are independent of any government, country, world organization or any single entity. They are completely "decentralized," owned only by the masses.

What we are seeing today is the beginning of a global currency system that is completely independent of any nation's debts, or GNP, or how its currency is doing compared to others, or even how they have done in the latest war. This is currency to end all national currencies! 

This will put all national currencies "out of business." To put it in perspective, one little Bitcoin, supposedly a pipe dream of some geeky programmers somewhere, is now worth over $16,000 US dollars. The dollar is becoming worthless!

And this has yet to hit the mainstream. It's just the beginning. There are already more than a hundred mainstream brands that are accepting Bitcoin for payments, with more being added to the list every day. Furthermore, the Bitcoin has been the currency of the entire Dark Web which is only starting to get discovered by the masses. (Did you know you could be getting your prescriptions out of India or Singapore, with no prescription, for about 10% of the cost in the US? Use a Tor browser and search on "CoinRx" for one source.)

Banks are already using Ripple (XRP) for faster transactions between themselves, the G7 is discussing how to incorporate cryptocurrency exchanges by the end of 2018, and I won't even take the time to explain how Ethereum is actually a global development platform which allow "smart contracts" that only release the funds of a transaction when certain criteria have been met (like a GPS chip showing that a shipment has arrived at a certain address), and allowing financial apps to be built like online Casinos and stupid games like "Crypto Kitties" that are all completely free of any national currency exchanges!!

Right now, it's new. People are just investing in Bitcoin because of the latest craze. But wait until more people start actually using it for purchases, and as a place to store money because it's better than banks. Hey, we're already using PayPal and this is just a better PayPal.

Religious folks will even tell you about a "one-world, cashless economy" that is prophesied to come about. Hmmm.

So, if you want to say that you're skeptical, or careful, that's fine. So am I. But to say that this whole thing is just a big bubble that's going to completely crash, because "they" are planning for it to, just shows complete ignorance on your part of what is really going on here. You need to read more, and type less.

 
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PostSubject: Re: Iraq moving to Bitcoin   Sun Jan 07, 2018 8:56 pm

Well said KingPatrick!  A new era has definitely been born!
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PostSubject: Re: Iraq moving to Bitcoin   Sun Jan 07, 2018 9:44 pm

before we know it, crypto currencies will stabilize and hard cash will be dead

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PostSubject: Re: Iraq moving to Bitcoin   Sun Jan 07, 2018 9:52 pm

@RamblerNash wrote:


The Central Bank refuses to deal with the currency of Bettkin


Twilight News

Sunday, 3 December 2017

The Central Bank of Iraq, on Sunday, refused to deal with the currency Bitcoin Bitcoin, warning that the dealers will be subject to the tightening of the law on money laundering.

"The Bitcoin coin is a virtual e-commerce that trades on the Internet only without a physical presence. It is used to buy online and supports payment using the form of the cards," he said in a statement.

He pointed out that this currency involves several risks that may result from circulation, especially with regard to electronic piracy and fraud, although there is no vogue within Iraq, so this bank confirms that it should not be used and subject dealers to the provisions of the Money Laundering Law No. 39 of 2015 and related laws about this.

http://www.shafaaq.com/ar/Ar_NewsReader/f49f6af5-03b0-49af-a6ec-8a648af96c7f

Um, that article is not at that link. Nor do any of the keywords in the title come up searching that entire site. I also looked at all of the articles surrounding Dec. 3, 2017 and none of them have anything to do with this.

I'm sure you didn't just make this up, but what could be going on? Think they changed their mind and pulled the article, or what?
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PostSubject: Re: Iraq moving to Bitcoin   Sun Jan 07, 2018 10:52 pm

@KingPatrickVII wrote:
@RamblerNash wrote:


The Central Bank refuses to deal with the currency of Bettkin


Twilight News

Sunday, 3 December 2017

The Central Bank of Iraq, on Sunday, refused to deal with the currency Bitcoin Bitcoin, warning that the dealers will be subject to the tightening of the law on money laundering.

"The Bitcoin coin is a virtual e-commerce that trades on the Internet only without a physical presence. It is used to buy online and supports payment using the form of the cards," he said in a statement.

He pointed out that this currency involves several risks that may result from circulation, especially with regard to electronic piracy and fraud, although there is no vogue within Iraq, so this bank confirms that it should not be used and subject dealers to the provisions of the Money Laundering Law No. 39 of 2015 and related laws about this.

http://www.shafaaq.com/ar/Ar_NewsReader/f49f6af5-03b0-49af-a6ec-8a648af96c7f

Um, that article is not at that link. Nor do any of the keywords in the title come up searching that entire site. I also looked at all of the articles surrounding Dec. 3, 2017 and none of them have anything to do with this.

I'm sure you didn't just make this up, but what could be going on? Think they changed their mind and pulled the article, or what?


The link works. I just opened it with a regular and incognito window just now. Here's a screenshot.









Try this for a search:


site:http://www.shafaaq.com البنك المركزي يرفض التعامل مع عملة البتكوين

The article should be at the top of the list.

If those don't work for you, check your internet settings.
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PostSubject: Re: Iraq moving to Bitcoin   Sun Jan 07, 2018 11:26 pm

Ok, I get that, but can't read it, and when I click the "English" button, there's no such thing. (shrug)
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PostSubject: Re: Iraq moving to Bitcoin   Sun Jan 07, 2018 11:50 pm

The English sides of Arabic sites I've found don't always translate their articles. Some are sometimes late to post them. So I go directly to the source and use a translator. Chrome has one built in. There's also Bing and Babylon that can also be used, but using them takes a little more effort, especially following their links and tabs. Translated articles don't always make sense, unless you have read enough of them to understand what their meaning is.




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PostSubject: Re: Iraq moving to Bitcoin   Sun Jan 07, 2018 11:51 pm

Not likely to see this happen. BTW, the US Government considers crypto currencies to be a securities instrument. That means that only a licensed financial advisor can legally give advise on buying or selling it. I can't wait till the SEC gets a hold of some of the pooroos.... If you had gotten into them at tthe start, you'd be sitting pretty about now. Getting into now? Well the worse thing you can do is buy high and sell low .... and the most common mistake people make in any market is ... yea that's right, buying high and selling low. My instincts tell me we're looking at a bubble, and bubbles burst, unless you're on top of Mount Washington the last few days in which case they freeze ... but my instinct is to stay away, and my financial advisor friends whom I trust and respect a great deal also say now is not the time. My 5 cents ... well ok with inflation buck and a half's worth.

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PostSubject: Re: Iraq moving to Bitcoin   Mon Jan 08, 2018 12:19 am



"Visa" stop payment cards with "Petcuin"





06-01-2018 10:10 AM

Baghdad News -
 
 
A number of prepaid cards on Friday stopped payments in digital currency Betcuen, in an effort from Visa Electronic Payment Company to tighten measures on the controversial financial instrument.
 
According to the newspaper 'telegraph' British, thousands of traders, currency 'Petkwin' were surprised to stop the card, on Friday, which foreshadows the consequences of the deals they have been paid, recently. 

Both BitPay, Cryptopay and Bitwala have announced that their cards have been discontinued and have confirmed that they will return money to users. 

The cards offer payment in regular currencies, but have allowed KFH to enter its operations. 

Visa has contacted a number of payment providers with 'Between' and has told them that they will stop their cards because of the violation of the rules. 

The value of 'Petequin' significantly in the past year, not worth more than $ 920, in January 2017, but arrived in mid-December, to $ 16 thousand, but it fell quickly after that.

http://www.baghdadnews.info/index.php?page=article&id=30139

http://www.dinardaily.net/t69863-visa-stop-payment-cards-with-petcuin
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PostSubject: Re: Iraq moving to Bitcoin   Mon Jan 08, 2018 1:24 am

People aren't obtaining bitcoins or other cryptocurrencies for the purpose of exchanging them for goods and services.  They're getting them to make a bundle with, just like they bought dinar.  The only difference is some people have actually profited from bitcoin.  However, for a currency to be a viable means of exchange it has to have some stability, and bitcoin doesn't have that.  Also, you need a government to accept it for tax payment.  What government accepts bitcoin to pay taxes?  Another problem bitcoin has is you can't expand and contract the money supply like the Fed does with the dollar.  Bitcoin is doomed.  It's just a matter of when, not if.

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PostSubject: Re: Iraq moving to Bitcoin   Mon Jan 08, 2018 2:45 am

Can't disagree with most of what you're saying, Sam I Am. There are other problems with Bitcoin itself being a primary currency, too. Like the computer power needed to mine it, and the limit of it at 121,000 bitcoins which is nowhere near enough to be the world's currency.

But I think Bitcoin is forging the way of cryptocurrencies which WILL replace money that any Fed can expand and control. Just pure personal speculation. I own an ad agency, so I've studied the Millennials' mindset. (Also have 3 sons in their 20s) My prediction is that THEY will be the driving force of cryptocurrency eventually replacing the peso. They don't even use cash. Everything is done with a debit card or PayPal, and they prefer PayPal. ALL currency to them has almost always been virtual.

Plus, the millennials have a whole different awareness of government corruption and capitalist greed than we ever did as the Boomers that discovered it for them. And they see themselves as a huge, global, entity connected by social media that can boycott or overthrow anything. Once bitcoin, or whatever virtual currency, hits the mainstream for their financial transactions, it's the dollar, the euro and the yen that's doomed. Just my prediction from watching the trends.
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PostSubject: Re: Iraq moving to Bitcoin   Mon Jan 08, 2018 10:24 am

Well, interesting discussion on this... Thanks for the info and opinions everyone ! 

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PostSubject: Re: Iraq moving to Bitcoin   Mon Jan 08, 2018 10:37 am

Thank you, Sam I Am for fortifying what I said, and, SPECULATION being the key word here, and bitcoin will never be accepted by governments for anything, but, given what I've read, they will gladly tax the shit out of it for people that do have it- And, YES, it is DOOMED-Yet we are IGNORANT to what is going on- I don't think so- And I see just how much of a rigged deal it all is- Notice the word 'limited', the first clue right there, along with 121,000- NOT nearly enough for all on the planet-We may have fallen off a turnip truck, BUT- It wasn't last night-Bitcoin is going down the shitter-Trends are sometimes manipulated- Deal with it, and get out while you can-Silver coins and maybe a few pieces of gold, like me, and I'm not worried about the dollar, as it WILL be around for quite awhile yet-
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PostSubject: Re: Iraq moving to Bitcoin   Mon Jan 08, 2018 11:40 am

Bitcoin is down about 5000 since Christmas, It was down even lower but made some back. Cryptocurrencies in general are down about 10% today, stil trending down so far.

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PostSubject: Re: Iraq moving to Bitcoin   Mon Jan 08, 2018 12:10 pm

Thank you for the update, Kevind53- I appreciate it-
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PostSubject: Re: Iraq moving to Bitcoin   Mon Jan 15, 2018 12:16 am

We have to keep in mind that the governments and special interests are trying to fight it 'cause they can't control it.  There will be alot of ongoing disinformation on the subject.
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PostSubject: Re: Iraq moving to Bitcoin   Mon Jan 15, 2018 12:59 am

@radjad wrote:
Venezuela and others are moving to the crypto currencies.


Venezuela's own bitcoin-like cryptocurrency — the petro


Date 06.01.2018

Venezuelan President Nicolas Maduro has ordered the release of 100 million units of a new digital currency, the "petro." It will be valued at the current price of a barrel of oil, around $60.


 Venezuelan President Nicolas Maduro (Reuters/Carlos Garcia Rawlins)
 
With the South American nation's own currency weaker than ever, Venezuelan President Nicolas Maduro on Friday ordered the issuance of a new cryptocurrency that he says is the world's first to be backed by a country's physical assets.

Some 100 million of the currency, known as the petro, are to be circulated — supported by the country's oil reserves, Maduro said.

"I have ordered the release of 100 million petro with the legal sustenance of Venezuela's certified and legalized oil wealth," Maduro said in a state television address, a month after the digital currency was first mooted.

Aids government cash flow

He said the petro will help the oil-rich state beat the "tyranny of the dollar," in reference to the fact that most oil is priced and traded in the US currency.

The new petro would help the government bypass US-led financial sanctions that have been imposed on the oil-rich state, the Venezuelan leader added.

Maduro and several of his top-ranking officials have been blacklisted by Washington, and the country is banned from negotiating new state or oil-backed bonds.

The petro is expected to be formally launched on January 14 and available for sale a week later, he said.

Maduro promised that each unit of the currency would be pegged to Venezuela's oil basket, which this week averaged $59.07 (€49.10) per barrel, according to the oil ministry. That suggests the total cryptocurrency issued would be worth just over $5.9 billion (€4.9 billion).

The Venezuelan president said the petro would be supported by one of several fields of the so-called Orinoco oil belt, a vast reservoir of heavy crude in the east of the country.

The field that will be offered as backup has a proven reserve of 5 billion barrels of crude oil.

Investors not convinced

Despite his optimism, the virtual currency's release has been met with ridicule by Maduro's opponents and investors alike.


Venezuela bolivar bill (Getty Images/AFP/F. Parra)
Years of high inflation in Venezuela have led to severe shortages of food, medicine and other daily essentials

Opposition politicians say the plan is doomed to fail and won't help ordinary Venezuelans who are suffering from high inflation and food shortages caused by the government's mismanagement of the economy.

Some financial analysts said investors would likely remain on the sidelines, citing a lack of confidence in Maduro's socialist government, which last month was forced to restructure or refinance its foreign debt.

Inflation eclipsing oil wealth


Venezuela has the world's largest oil reserves, according to OPEC, and makes some 95 percent of its export revenue from oil.

But despite a recent decade-long oil boom, the country remains in deep financial crisis. The government is accused of squandering the gains on overly generous social programs, and it remains indifferent to calls for painful reforms.

Venezuela's bolivar currency is officially traded at 10 to the dollar, but on the black market, a dollar currently buys 137,000 bolivars.

With a severely weakened currency, local economic consultancy Ecoanalitica said prices rose more than 80 percent in December alone. Money supply, according to the central bank, was up more than 1,000 percent last year.

Bitcoin and hundreds of other digital currencies have emerged over the past few years. But despite their incredible rise in value, several economics and policy experts have warned that they are, in effect, worthless as they are not backed by any central bank.

http://www.dw.com/en/venezuelas-own-bitcoin-like-cryptocurrency-the-petro/a-42052601
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PostSubject: Re: Iraq moving to Bitcoin   Mon Jan 15, 2018 1:05 am

Let the Games Begin!!!
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PostSubject: Re: Iraq moving to Bitcoin   Mon Jan 15, 2018 1:16 am

@radjad wrote:
Let the Games Begin!!!


There is nobody here that's going to "Play Games".

The Venezuela currency article points out that this country isn't adopting Bitcoin.
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PostSubject: Re: Iraq moving to Bitcoin   Mon Jan 15, 2018 6:50 am

Rambler, everyone here is playing games.  The Dinar is so far fetched; rumors are totally bonkers and the guru's are anything but. I think everyone means well but these are games!
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PostSubject: Re: Iraq moving to Bitcoin   Mon Jan 15, 2018 7:09 am

@radjad wrote:
Rambler, everyone here is playing games.  The Dinar is so far fetched; rumors are totally bonkers and the guru's are anything but. I think everyone means well but these are games!

Radjad, I agree.  The dinar is far fetched.  The rumors are so ridiculous, I can not even begin to fathom how anyone believes them.  But, I do not believe that the gurus mean well.  They have their own agendas for perpetuating  such insanity and it isn't for the well being of others. 

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PostSubject: Re: Iraq moving to Bitcoin   Mon Jan 15, 2018 8:47 pm

Ponee, check this site out--- you can PM me if you have Qs--- https://www.scribd.com/document/360696134/Latest-Etps-Marketing-Plan ----------and for the record on BTC-ETH and Lite coin, what I have put into coin base which is out of San Francisco Ca, since Aug 2017 I have made 150% on money put in at different times. I first heard about the Bit coin 3-4 years ago while at the Hong Kong airport during a lay over and thought about throwing some money towards it, the problem was I couldn't find a place in the US that could handle the transaction out of my bank, now there all over the place and all water under the bridge. My Edward Jones adviser is keeping an eye on some of the stuff I do and still in his words ( I have a hard time wrapping my head around all of this talking about  crypt o currency's) but also says he is never to old to learn outside of the box, and at 1st I thought like him, and that is why I never really jumped on it hard in the beginning. Reading all of the above comments may-be I should abandoned ship.------ NOT!------ One thing I will say. Different strokes for different folks.
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PostSubject: Re: Iraq moving to Bitcoin   Mon Jan 15, 2018 10:25 pm

So a country with a currency in the toilet, (the official exchange rate is about 10/USD, but the real world black market rate is about 3000/USD. How in the heck do they think a crypto currency will be worth a tinkers damn when they're not addressing the root issues.

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PostSubject: Re: Iraq moving to Bitcoin   Fri Jan 19, 2018 12:10 am

Dinar Coin. LOL!

Maybe I should get a few million of those, too!

Incidentally, I'm one of those guys who made 10X my initial investment in Bitcoin from early 2017. Too bad it just wasn't very much invested. :/

But here's a few questions for you Dinar experts out there that really watch the politics in Iraq, etc.:

Is there still a real chance of a revaluation? What would be the key to it? (e.g. end of Isis as a power)

This is obviously still a very busy forum (and Ponee does an awesome job!) but for those of us that holding hamillions of dinar, is this thing pretty much over in the most level-headed opinions?
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PostSubject: Re: Iraq moving to Bitcoin   Fri Jan 19, 2018 12:20 am

My personal opinion is barring a direct intervention of God, the chances are zero. Oh we may see some growth eventually, if they survive, but considering what they have to deal with now that ISIL is finally kicked out, it'll be a long , long time. It's going to be years just cleaning up the debris and clearing explosives.

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PostSubject: Re: Iraq moving to Bitcoin   Fri Jan 19, 2018 5:09 pm

KingPatrick, there's always a chance that the dinar will revalue or devalue, but it's more likely that the value will remain stable.  But whatever happens, let it be understood that any revaluation or devaluation will only be a matter of a few %.  No country is going to revalue their currency by 100%, let alone 1,000 - 300,000% like the gurus are saying.

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PostSubject: Re: Iraq moving to Bitcoin   Sat Jan 20, 2018 12:06 am

Thanks, Kevind53 and Sam I Am, for confirming what I thought.
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PostSubject: Re: Iraq moving to Bitcoin   Thu Feb 08, 2018 1:24 am

Sam I Am, how did the gurus get called gurus?  All of them are clowns.  I haven't paid any attention for years.  It's all been a joke to me!
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PostSubject: Re: Iraq moving to Bitcoin   Thu Feb 08, 2018 7:09 am

radjad - Years ago (back around 2010) there were literally hundreds of thousands of people buying dinar, and most of them (like me) had no experience with currency speculation and didn't really know how they were going to make money off of the dinar.  As a result they sought out people who sounded like they knew what they were talking about and asked them questions.  Back then those people were Adam Montana, Adam's buddy sonny1, The GET Team (Gankans, Enorrste, and TerryK), phoenix3333, Randy Koonce, Medic, Breitling, Okie Oilman, Enoch8, Kaperoni ... etc.  They were called gurus because they were the people that were sought out for their expertise.  After awhile it became painfully obvious that these clowns didn't know their backside from a hole in the ground, and the word "guru" became a term of derision rather than affection.

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PostSubject: Re: Iraq moving to Bitcoin   Thu Feb 08, 2018 11:20 am

Understand.  Thanks for sharing!
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