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Bitcoin, Ethereum, Litecoin, Ripple - Cryptocurrency in T&T

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Re: Bitcoin, Ethereum, Litecoin, Ripple - Cryptocurrency in T&T

Postby bluefete » January 11th, 2022, 11:56 am

FAKE. I had to go through real reviews to find this. Plenty fake websites being used to hype this including the Associated Press.

Most of the reviews are from BitCoin Profit itself.

Lara should sue (if he is not a paid endorser).

https://scamcryptorobots.com/bitcoin-pr ... tc-profit/

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Re: Bitcoin, Ethereum, Litecoin, Ripple - Cryptocurrency in T&T

Postby bluefete » January 21st, 2022, 2:42 pm

Federal Reserve weighs creating 'digital cash' that would allow direct transfers without a bank as the US tries to play catch up with China's early move into electronic currency

The Federal Reserve has released a long-awaited paper weighing the pros and cons of creating a central bank digital currency (CBDC), a digital form of cash in your pocket.

The paper released on Thursday cautiously weighed the pros and cons of a digital dollar, and did not take a position on whether the central bank should pursue such a project.

A CBDC would differ in some key ways from the online and digital payments that millions of Americans already conduct. Those transactions are funneled through and between banks, which wouldn't be necessary with a digital dollar.

Essentially, a CBDC would be a digital token with a direct claim on the central bank, in the same way that physical dollars are all 'Federal Reserve Notes' held by the bearer.

https://www.dailymail.co.uk/news/articl ... -bank.html

https://www.reuters.com/business/fed-la ... 022-01-20/

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Re: Bitcoin, Ethereum, Litecoin, Ripple - Cryptocurrency in T&T

Postby nervewrecker » January 21st, 2022, 6:49 pm

nun about the massive drop in value as of late?

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Re: Bitcoin, Ethereum, Litecoin, Ripple - Cryptocurrency in T&T

Postby wall » January 22nd, 2022, 2:47 pm

nervewrecker wrote:nun about the massive drop in value as of late?

traditional markets tootooing themselves due to tapering announcements made a couple weeks ago etc . High risk investments taking an especially hard tumble

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Re: Bitcoin, Ethereum, Litecoin, Ripple - Cryptocurrency in T&T

Postby neilsingh100 » January 22nd, 2022, 3:25 pm

Interesting read...

Cryptocurrency Is a Giant Ponzi Scheme
https://jacobinmag.com/2022/01/cryptocu ... ralization

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Re: Bitcoin, Ethereum, Litecoin, Ripple - Cryptocurrency in T&T

Postby drchaos » January 22nd, 2022, 10:22 pm

neilsingh100 wrote:Interesting read...

Cryptocurrency Is a Giant Ponzi Scheme
https://jacobinmag.com/2022/01/cryptocu ... ralization


:lol:

4 year bubble cycle rinse and repeat thus far ... Ponzi scheme? No.

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Re: Bitcoin, Ethereum, Litecoin, Ripple - Cryptocurrency in T&T

Postby ravist » February 18th, 2022, 1:07 pm

Good day all,
I am very very new to this space and currently with Crypto.com. I am really not sure how to withdraw or the procedures involved in doing so. Can any of you guys kindly advise please?

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Re: Bitcoin, Ethereum, Litecoin, Ripple - Cryptocurrency in T&T

Postby bluefete » March 18th, 2022, 7:14 pm

Central Bank still with their BS in trying to scare people about crypto.

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Re: Bitcoin, Ethereum, Litecoin, Ripple - Cryptocurrency in T&T

Postby bluefete » March 18th, 2022, 8:09 pm

Central bank Governor said:

Central Bank welcomes innovation but crypto is based on almost nothing.

It is by itself. it is fabricated out of thin air. The value could fluctuate widely and people could lose their shirts trading in crypto. They go to Central bank for help.

WAIT - Isn't this like investing in stocks? Just asking.

SEC Acting CEO agreed with Central bank governor.

She said enhanced level of reporting need for crypto.

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Re: Bitcoin, Ethereum, Litecoin, Ripple - Cryptocurrency in T&T

Postby Captain Awesome » March 18th, 2022, 9:23 pm

bluefete wrote:Central bank Governor said:

Central Bank welcomes innovation but crypto is based on almost nothing.

It is by itself. it is fabricated out of thin air. The value could fluctuate widely and people could lose their shirts trading in crypto. They go to Central bank for help.

WAIT - Isn't this like investing in stocks? Just asking.

SEC Acting CEO agreed with Central bank governor.

She said enhanced level of reporting need for crypto.
These people have a vested interest in making sure that central banks retain relevance. Crypto is a legit threat to their control so the fear mongering is inevitable. The good old "crypto is based on nothing" argument appeals to people's ignorance. It is quite entertaining to watch them squirm.

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Re: Bitcoin, Ethereum, Litecoin, Ripple - Cryptocurrency in T&T

Postby maj. tom » March 19th, 2022, 10:16 am

Once upon a time in a village, a man appeared and announced to the villagers that he would buy monkeys for $10 each.

The villagers, seeing that there were many monkeys around, went out to the forest and started catching them.

The man bought thousands at $10 and as supply started to diminish, the villagers stopped their effort. He further announced that he would now buy at $20. This renewed the efforts of the villagers and they started catching monkeys again.

Soon the supply diminished even further and people started going back to their farms. The offer increased to $25 each and the supply of monkeys became so little that it was an effort to even see a monkey, let alone catch it!

The man now announced that he would buy monkeys at $50! However, since he had to go to the city on some business, his assistant would now buy on behalf of him.

In the absence of the man, the assistant told the villagers; "Look at all these monkeys in the big cage that the man has collected. I will sell them to you at $35 and when the man returns from the city, you can sell them to him for $50 each."

The villagers rounded up with all their savings and bought all the monkeys.

They never saw the man nor his assistant, only monkeys everywhere!



Now you have a better understanding of how the cryptocurrency market works. Cryptocurrency is still largely unregulated bullsheit. There are 99% of people who don't understand that it's a scam and it's mostly used by scammers and schemers. It is unchecked and unregulated so there is a lot of illegal activity associated with cryptocurrency, not to mention the entirely unethical get rich quick schemes of mining and energy consumption and using much computing resources with no returns of productivity to the society and then everything you mined is half-valued every four years. The most useful part of cryptocurrency is the generated unique blockchain to show a transaction's worth, just like NFTs, which by the way is also an unregulated scam that most people do not understand.

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Re: Bitcoin, Ethereum, Litecoin, Ripple - Cryptocurrency in T&T

Postby Redman » March 19th, 2022, 10:24 am

bluefete wrote:Central bank Governor said:

Central Bank welcomes innovation but crypto is based on almost nothing.

It is by itself. it is fabricated out of thin air. The value could fluctuate widely and people could lose their shirts trading in crypto. They go to Central bank for help.

WAIT - Isn't this like investing in stocks? Just asking.

SEC Acting CEO agreed with Central bank govqernor.

She said enhanced level of reporting need for crypto.


The answered is kinda .

Like stocks there are plenty bad investments available, doubly so for crypto.

A Fiat currency is backed by the same thing crypto is, ...a promise to pay, and a belief that it will be paid.
Fiat currency has value by fiat, or Govts statement that it has value.

Those remarks while accurate in general are also disingenous and simplistic.

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Re: Bitcoin, Ethereum, Litecoin, Ripple - Cryptocurrency in T&T

Postby Country_Bookie » March 19th, 2022, 7:23 pm

bluefete wrote:Central bank Governor said:

Central Bank welcomes innovation but crypto is based on almost nothing.

It is by itself. it is fabricated out of thin air. The value could fluctuate widely and people could lose their shirts trading in crypto. They go to Central bank for help.

WAIT - Isn't this like investing in stocks? Just asking.

SEC Acting CEO agreed with Central bank governor.

She said enhanced level of reporting need for crypto.
Stocks represent ownership in actual companies. If you're a risk adverse investor you can choose to only invest in blue chip companies; I.e. those with strong and tested business models that have been around for a long time, eg Coca-Cola, Disney etc. Intrinsic value refers to the value of the company based on the forecast of future cash flows from dividends.
Even if these prices plummet in the short term , you still own a share of these companies with strong brand recognition, and their Intrinsic value gives you confidence they'll be around long term and you can keep holding until prices rebound. Of course there's companies that are considered speculative such as biotechnology stocks but you can avoid these if you don't want excess risk.

In contrast, there are a few crypto currencies that have been around for more than a decade but there's also a lot that are very new. None of these have any Intrinsic value. Bitcoin seems like it has staying power given the acceptance by companies as a means of payment. However there are a lot of new crypto currencies that only have value because of social media hype and celebrity endorsement. These are essentially pump and dump schemes where the creator of the currency hypes up the price to sell their position, then the price collapses when they exit.

The Central Bank governor should have done a better job explaining this nuance rather than paint all with the same brush.

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Re: Bitcoin, Ethereum, Litecoin, Ripple - Cryptocurrency in T&T

Postby Captain Awesome » March 19th, 2022, 7:29 pm

They're not interested in educating people. The objective is obfuscation and spreading fud which is the opposite of education.

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Re: Bitcoin, Ethereum, Litecoin, Ripple - Cryptocurrency in T&T

Postby The_Honourable » March 19th, 2022, 8:18 pm

Crypto and blockchain is here to stay. That being said, the market is still the wild wild west with a lot of s**tcoins.

Regulation is coming soon because you also have quami with a fresh haircut and jussy "making paper" or narine with a shirt, gold chain and driving a medalist both part of some quack forex group telling you about the crypto market and it is an opportunity of a lifetime.

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Re: Bitcoin, Ethereum, Litecoin, Ripple - Cryptocurrency in T&T

Postby bluefete » March 23rd, 2022, 5:18 pm

https://newsday.co.tt/2022/03/21/fintech-when/

Image

EDITORIAL
Fintech, when?
NEWSDAY 3 DAYS AGO

AT A meeting of Parliament’s Joint Select Committee on Finance and Legal Affairs, Central Bank Governor Dr Alvin Hilaire offered last week a picture of cautious governance of the country's engagement with financial technology (fintech).

Dr Hilaire summarised fintech as allowing the rapid movement of funds, but could identify no commensurate vigour in moving forward this country’s engagement with the technology.

He described, instead, a central bank that was still coming to grips with the speed of financial engineering enabled by fintech regimes.

The Central Bank carries out financial literacy education (though more is clearly still needed), but champions no simple, direct local applications of fintech.

Does it have a think tank dedicated to designing the architecture for enabling a fintech-driven economy?

Does it pursue a results-oriented working relationship with TT International Financial Centre or the FinTechTT group, both of which are dedicated to expanding the scope of early efforts at introducing electronic transactions?

Is there a road map for the growth of a fintech economy and the Central Bank's role in enabling this fundamental change in the local financial landscape?

These are legitimate questions.

In May 2021, the Eastern Caribbean Central Bank (ECCB) launched its DCash digital currency, a regulated digital equivalent to the EC dollar.

The work that led to DCash began with the ECCB's five-year strategic plan, which began in 2017. TT has been talking about fintech, apparently idly, for far longer than that. But there is a difference between talking about something because it sounds modern and actually doing something about it.

Dr Hilaire pointed to the theft of 1,836 social welfare cheques from the post office as being an example of an incident that gets the public's attention – but has it led to any corrective action?

It's one thing to talk about the problems that elders have with the banking system and their entrenched habit of lining up to cash cheques, but replacing these antiquated systems with modern, readily understood technologies should be a motivation for the Central Bank, the banking sector and the Government, not merely a lamentation.

Implementing fintech, as with digital transformation, is something that’s more effectively demonstrated than explained, but there remains a dearth of practical applications.

The Digital Transformation Ministry's plan to make a model city for technology adoption in Arima is a step forward, but will only be demonstrably meaningful when there something tangible to show for all the talk ventilated on the subject.

The Central Bank's approach to implementing practical fintech solutions is beyond cautious. It is timid and slothful in the face of regional successes and the pace of global technology development and adoption. Dr Hilaire must lead this change from the front.

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Re: Bitcoin, Ethereum, Litecoin, Ripple - Cryptocurrency in T&T

Postby Captain Awesome » March 23rd, 2022, 9:43 pm

The growth of crypto and the central bank severely limiting the availability of forex will drive local adoption of crypto at a faster than normal pace. These dinosaurs won't know what hit them until it is too late.

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Re: Bitcoin, Ethereum, Litecoin, Ripple - Cryptocurrency in T&T

Postby drchaos » March 25th, 2022, 12:16 am

maj. tom wrote:Once upon a time in a village, a man appeared and announced to the villagers that he would buy monkeys for $10 each.

The villagers, seeing that there were many monkeys around, went out to the forest and started catching them.

The man bought thousands at $10 and as supply started to diminish, the villagers stopped their effort. He further announced that he would now buy at $20. This renewed the efforts of the villagers and they started catching monkeys again.

Soon the supply diminished even further and people started going back to their farms. The offer increased to $25 each and the supply of monkeys became so little that it was an effort to even see a monkey, let alone catch it!

The man now announced that he would buy monkeys at $50! However, since he had to go to the city on some business, his assistant would now buy on behalf of him.

In the absence of the man, the assistant told the villagers; "Look at all these monkeys in the big cage that the man has collected. I will sell them to you at $35 and when the man returns from the city, you can sell them to him for $50 each."

The villagers rounded up with all their savings and bought all the monkeys.

They never saw the man nor his assistant, only monkeys everywhere!



Now you have a better understanding of how the cryptocurrency market works. Cryptocurrency is still largely unregulated bullsheit. There are 99% of people who don't understand that it's a scam and it's mostly used by scammers and schemers. It is unchecked and unregulated so there is a lot of illegal activity associated with cryptocurrency, not to mention the entirely unethical get rich quick schemes of mining and energy consumption and using much computing resources with no returns of productivity to the society and then everything you mined is half-valued every four years. The most useful part of cryptocurrency is the generated unique blockchain to show a transaction's worth, just like NFTs, which by the way is also an unregulated scam that most people do not understand.


This guy's FOMO turned into AFMO (Anger From Missing Out)
poverty sucks :lol:

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Re: Bitcoin, Ethereum, Litecoin, Ripple - Cryptocurrency in T&T

Postby bluefete » April 17th, 2022, 4:09 pm

Captain Awesome wrote:The growth of crypto and the central bank severely limiting the availability of forex will drive local adoption of crypto at a faster than normal pace. These dinosaurs won't know what hit them until it is too late.


Look who is leading the charge - the good old 1% - ANSAMcAl.

The catch? They want 20th century subsidised gas and electricity prices while T&TEC going and buss an increase on the ordinary citizens soon.


Bitcoin mining farm, Trinimine, in the works for T&T

Setting up a Bitcoin mining farm requires several specific elements.

And luckily, T&T has them all.

Most of us are familiar with financial transactions involving cheques and credit cards from financial institutions such as banks, which all need to be verified by the institutions.

The same applies to transactions using cryptocurrency.


However, the verification process of traditional transactions is undertaken centrally, while that of cryptocurrency is decentralised. This means that anyone, anywhere in the world can be part of the verification if they have the right equipment.

Bitcoin Mining Farms are globally distributed data centres using computing power to validate transactions of the Bitcoin Blockchain protocol. This investment provides T&T with the opportunity to become a new player in this new technology arena.

The Bitcoin blockchain is by far the largest cryptocurrency blockchain, with a market capitalisation valued at around US$ 900 billion and 200 million transactions a year.

“T&T has available the core elements of power capacity, a competitive electricity price and available infrastructure at Tamana Intech Park” said Professor Jean-Frederic Mognetti

These three characteristics are the key drivers that will allow T&T to make a paradigm shift to participate in a new world economy.

Economic diversification of this nature in T&T, would compete with projects offering the same quality of attributes as those in USA (Texas) and Canada (Ontario), he said.

The project, called Trinimine, will be a large data centre with a capacity of 300MW and an investment of US $0.5 billion.

The facility will be built out in phases, with the first phase being 70 MW, occupying 20 acres of land and with an investment of US$ 100 million. This facility could become operational in 11 months after a signed Power Purchase Agreement.


The project requires the same conditions of a subsidised energy price, granted in the 20th century, to attract manufacturers to the Point Lisas industrial estate.

The same electricity price attractiveness today could result in the development of the 21st-century sectors of the fast developing digital economy.

Prof Mognetti added, regionally this project would be the first of its kind: “What T&T did with its energy was to build Point Lisas on subsidised energy for 20th century industries. Why not replay the same game and use the same energy to subsidise an industry of the 21st century”.

Such a project needs a solid and respectful family to make it happen, and this is what the Trinimine partnership boasts.


One of those partners is the ANSA McAL conglomerate. ANSA McAL is the parent company of Guardian Media.

“Our remit is to look at new opportunities for the Group and this is an opportunity to diversify the current portfolio with a 21st-century initiative. It is a completely new area for ANSA McAL and T&T, and it fits nicely with the financial sector that ANSA McAL is already in”, said Dr Rikhi Permanand.

Also partnering on the project are two international leading companies in their respective areas: Bitfury and Coinshares International.

Bitfury based in Holland is a cutting-edge technology pioneer that reached a valuation of US$1 billion without being listed on the stock market. This was achieved through its proprietary ASIC chip development, server integration, high-end data centre development and management.

They are present in six countries around the world, with an installed – in operation and in deployment – capacity of, 1GW (1 billion Watts) and a pipeline of projects, of 2 GW.

Coinshares International is Europe’s largest and longest-standing digital asset firm founded in 2014, listed on the Stockholm Nasdaq since March 2021 and with more than US $6.5B of assets under management. Its mission and its sector specialisation offers privileged access to investors, who are accustomed to, the risk, and return characteristics of the sector.

The three partners of Trinimine are listed companies in New York, Stockholm and Port of Spain and post a cumulated market capitalisation of more than US$ 4 billion.

Dr Permanand added that the project fits perfectly with the thrust of the Tamana Intech Park.

“As you may know, the idea behind Tamana Intech Park was to house technological projects and opportunities. This fits very well into that vision. The fit is also ideal, because there is plenty of space, and much more importantly it has a substation already in place and capable of powering the Phase 1 requirement of 70MW. So, it is a plug and play opportunity, which would allow us to get to market very quickly,” Permanand said.

“However, this is not a done deal. And the opportunity must be grasped now as this existing window of opportunity can close quickly,” Mognetti said.

The technology partner Bitfury, as an integrated operator, is managing a very critical resource - ASIC chips, which are unfortunately in competition for their allocation.

T&T ranks well on paper but faces alternative allocation options. If it is not T&T, North America will welcome with opened arms, these semiconductors and their servers supported by attractive electricity prices.

Phase 1, will immediately provide T&T with a global visibility of 0.7 per cent of the global computation capacity.

This will increase to two per cent when the project of 300MW is fully deployed.

This figure has to be compared in relation to T&T‘s Natural Gas production, which represents 0.03 per cent of the global production.

Finally, what makes the project even more attractive is that other countries in the region, such as Barbados and the Bahamas, have already started modifying their regulations to facilitate this digital asset economy and are attracting interest from foreign companies.

“This project is totally aligned in terms of diversification for us as a private-sector organisation and fits very well with the long-term view of what the government wants. So, it’s a great fit,” Permanand said.

“I think it’s an absolute game-changer for us as a business, and for us as a country because it’s a real paradigm shift in what we do. It’s taking the natural assets that we have and using them in a different way to generate wealth for the investors and for the citizens of T&T. This is the type of initiative that we need to be looking at for future growth,” he added.

Mognetti, who is French, and has lived and worked in T&T since 2006, concluded with the well-rooted common sense of the farmers of the Alp mountains:”In the country where I grew up, it is well known that it is during the summer period that one fixes up the roof, not under one meter of snow! What is not done in due time is paid with interest and even cumulative one if one procrastinates to do what needs to be done.”

https://guardian.co.tt/business/bitcoin ... 5eed6afd60

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Re: Bitcoin, Ethereum, Litecoin, Ripple - Cryptocurrency in T&T

Postby bluefete » April 28th, 2022, 3:37 pm

The PNM Master (ANSA Mc AL) has spoken!

Trade Ministry looking at possibility of cryptocurrency sector
by

7 hours ago
Thu Apr 28 2022

https://www.guardian.co.tt/business/tra ... hWjTOoc_88

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Re: Bitcoin, Ethereum, Litecoin, Ripple - Cryptocurrency in T&T

Postby neilsingh100 » April 28th, 2022, 4:20 pm

bluefete wrote:The PNM Master (ANSA Mc AL) has spoken!

Trade Ministry looking at possibility of cryptocurrency sector
by

7 hours ago
Thu Apr 28 2022

https://www.guardian.co.tt/business/tra ... hWjTOoc_88
Not viable unless state subsidize cost of power and by extension nat gas that T&TEC pays NGC

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Re: Bitcoin, Ethereum, Litecoin, Ripple - Cryptocurrency in T&T

Postby zoom rader » April 28th, 2022, 4:34 pm

bluefete wrote:The PNM Master (ANSA Mc AL) has spoken!

Trade Ministry looking at possibility of cryptocurrency sector
by

7 hours ago
Thu Apr 28 2022

https://www.guardian.co.tt/business/tra ... hWjTOoc_88
USA will not be pleased.

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Re: Bitcoin, Ethereum, Litecoin, Ripple - Cryptocurrency in T&T

Postby RedVEVO » April 28th, 2022, 5:38 pm

zoom rader wrote:
bluefete wrote:The PNM Master (ANSA Mc AL) has spoken!

Trade Ministry looking at possibility of cryptocurrency sector
by

7 hours ago
Thu Apr 28 2022

https://www.guardian.co.tt/business/tra ... hWjTOoc_88
USA will not be pleased.


It's actually the "US" not the USA ..

USA is used for the Olympics etc. :D

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Re: Bitcoin, Ethereum, Litecoin, Ripple - Cryptocurrency in T&T

Postby bluefete » April 29th, 2022, 7:23 am

neilsingh100 wrote:
bluefete wrote:The PNM Master (ANSA Mc AL) has spoken!

Trade Ministry looking at possibility of cryptocurrency sector
by

7 hours ago
Thu Apr 28 2022

https://www.guardian.co.tt/business/tra ... hWjTOoc_88
Not viable unless state subsidize cost of power and by extension nat gas that T&TEC pays NGC


Scroll back up and read the article with ANSA Mc Al and bitcoin mining in T&T.

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Re: Bitcoin, Ethereum, Litecoin, Ripple - Cryptocurrency in T&T

Postby The_Honourable » May 3rd, 2022, 10:59 am

Meanwhile, talk is that CashFx T&T starting to implode... who get take by the stock photo lamborghini pics, the word entrepreneur, claim yuh wealth quotes, groupie pics and the crisp black jersey?

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Re: Bitcoin, Ethereum, Litecoin, Ripple - Cryptocurrency in T&T

Postby Pirate » May 6th, 2022, 12:04 pm

Is about time.
padna taking 3 mths to get payments.
Tell him is a scam, but thankfully he got his last payment in March, so he got back his 200%

So he make a profit.
LOL

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Re: Bitcoin, Ethereum, Litecoin, Ripple - Cryptocurrency in T&T

Postby The_Honourable » May 12th, 2022, 10:21 am

What a bloodbath...

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Re: Bitcoin, Ethereum, Litecoin, Ripple - Cryptocurrency in T&T

Postby teems1 » May 12th, 2022, 10:29 am

LUNA down 99.6%

It was 116US early April, now it's less than 2 cents.

Wow. How people don't see these as a scam is beyond me.

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Re: Bitcoin, Ethereum, Litecoin, Ripple - Cryptocurrency in T&T

Postby bluefete » May 12th, 2022, 11:54 am

Risk is inherent in investing money be it cryptocurrency, stocks, bonds, (savings - do not count as investment but you can still lose all)

T&T Financial Failures / Collapses:

1983 - International Trust Ltd.

1984 - Southern Finance

1986 - Trade Confirmers
Summit Finance
Commercial Finance
MAT Securities
SWAIT

1993 - NCB
TCB
WBL

2009 - CL Financial
HCU

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Re: Bitcoin, Ethereum, Litecoin, Ripple - Cryptocurrency in T&T

Postby SuperiorMan » May 12th, 2022, 11:58 am

teems1 wrote:LUNA down 99.6%

It was 116US early April, now it's less than 2 cents.

Wow. How people don't see these as a scam is beyond me.


I read certain crypto like luna gonna start becoming official partners of epl football teams and other sports which gonna further legitimize it in the mind of the public.

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