Jump to content

Manncoin


Major Rushen
 Share

Recommended Posts

Also.

Manncoin have backtracked and now stated they aren't letting you mine the coin anymore.

 

To recap

No Manncoin to Fiat transactions.

No mining.

KYC for simply owning a wallet.

No exchange listing.

Not decentralised.

Price controlled by Manncoin.

 

Will this really take off the way they want it to?. Lets be fair, most people are in crypto because of the gains and investment value. I see none with Manncoin.

 

Link to comment
Share on other sites

1 hour ago, Chie said:

I opened a Revolut account and did buy some crypto through it and then sold it again shortly after when I realised that you don't actually buy the coin itself. Aka you don't own it. If Revolut decided for some reason to lock your account or it went under then you loose your investment.

Revolut is in the process of rolling out the facility for customers to withdraw BTC - to transfer it to a wallet address.

  • Like 1
Link to comment
Share on other sites

3 hours ago, Chie said:

Also.

Manncoin have backtracked and now stated they aren't letting you mine the coin anymore.

 

To recap

No Manncoin to Fiat transactions.

No mining.

KYC for simply owning a wallet.

No exchange listing.

Not decentralised.

Price controlled by Manncoin.

 

Will this really take off the way they want it to?. Lets be fair, most people are in crypto because of the gains and investment value. I see none with Manncoin.

 

Everyone has to make up their own mind about this. Personally I had one look at it and am staying away. 

  • Like 2
Link to comment
Share on other sites

5 hours ago, Chie said:

I opened a Revolut account and did buy some crypto through it and then sold it again shortly after when I realised that you don't actually buy the coin itself. Aka you don't own it. If Revolut decided for some reason to lock your account or it went under then you loose your investment. I use Binance to buy and Ledger Nano X wallet to store at the min.

Does it matter if you own it?  When you "buy" crypto your really just taking a position on whether it goes up or down.  It's not like you can spent it on anything.  The price is being moved and massaged by volume from people who don't "own" it.

Link to comment
Share on other sites

1 minute ago, The Dog's Dangly Bits said:

Does it matter if you own it?  When you "buy" crypto your really just taking a position on whether it goes up or down.  It's not like you can spent it on anything.  The price is being moved and massaged by volume from people who don't "own" it.

Yes it does matter greatly. Firstly you can spend it, secondly: not your keys, not your coin. What revolut did was more like CFD trading than buying crypto. 

  • Like 1
Link to comment
Share on other sites

Posted (edited)
1 hour ago, The Dog's Dangly Bits said:

Does it matter if you own it?  When you "buy" crypto your really just taking a position on whether it goes up or down.  It's not like you can spent it on anything.  The price is being moved and massaged by volume from people who don't "own" it.

It's generally worth knowing a bit about stuff before chipping in with your valued opinion

Edited by reptar
  • Like 2
Link to comment
Share on other sites

2 hours ago, The Dog's Dangly Bits said:

Does it matter if you own it?  When you "buy" crypto your really just taking a position on whether it goes up or down.  It's not like you can spent it on anything.  The price is being moved and massaged by volume from people who don't "own" it.

MtGox was the world's leading exchange until it went into liquidation after being hacked. So yes it matters whether you own the your private keys. If you are not trading it then it wants to be offline.

Ever tried spending gold?

Link to comment
Share on other sites

5 hours ago, pongo said:

MtGox was the world's leading exchange until it went into liquidation after being hacked. So yes it matters whether you own the your private keys. If you are not trading it then it wants to be offline.

Ever tried spending gold?

That's exactly my point.  If I have a view on gold I dont need to own it.

Crypto is no different.   There is now an enormous market of synthetic products that effectively track or leverage (if you want) crypto.

So there is no desperate need to own it as such.

Link to comment
Share on other sites

7 hours ago, Amadeus said:

Yes it does matter greatly. Firstly you can spend it, secondly: not your keys, not your coin. What revolut did was more like CFD trading than buying crypto. 

Who's buying Cypto and "spending" it?

It's just a medium of speculation.   Revolut can give you a position "in" crypto.

If I have a view on Bitcoin tomorrow then I can  take a position with Revolut.  So, I'm not sure it matters " greatly" really?

Link to comment
Share on other sites

1 hour ago, The Dog's Dangly Bits said:

Who's buying Cypto and "spending" it?

It's just a medium of speculation.   Revolut can give you a position "in" crypto.

If I have a view on Bitcoin tomorrow then I can  take a position with Revolut.  So, I'm not sure it matters " greatly" really?

Plenty of places you can spend bitcoin.

MSPCA are even accepting bitcoin donations now.

Link to comment
Share on other sites

Posted (edited)
1 hour ago, The Dog's Dangly Bits said:

If I have a view on Bitcoin tomorrow then I can  take a position with Revolut.  So, I'm not sure it matters " greatly" really?

Suppose you want to place a limit order, whether buying or selling? The price you want may be reached whilst you are sleeping. Or you want to buy it on one exchange and sell it on another? Or you don't want to trade it for the same currency as you bought it with? Or you want to stake it?

Your approach to "holding a postition" is the equivalent of trading currencies at an old fashioned travel agency or the Post Office.

Edited by pongo
  • Like 1
  • Haha 1
Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
 Share

  • Recently Browsing   0 members

    No registered users viewing this page.

×
×
  • Create New...