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Sunday, July 2, 2017

"In Response to Angel Gee" by Reallucky1 - 7.2.17

Entry Submitted by Reallucky1 at 4:38 PM EDT on July 2, 2017

"Re: Going to a Cashless Society" by Angel Gee - 7.2.17

Hello Angel Gee:

My understanding is you do not have to trade anything for Bitcoins. We will be using a digital currency, I have heard the Fed Coin or something like that. There are so many choices, some banks even have them, so I have heard. I am not the best person to ask, but there are like 1000 different coins, and you work the Bitcoin market similar to a stock market. Each one has a set price, and I have seen people watch the traded value, and then sell and buy other currencies or move the money traded to their Bitcoin wallet. There are guides that measure the daily price of each coin, they show the traded value for each coin. I saw videos of people doing short sells, may not even be termed that but I was referring to sales in our market. Anyone can start a different coin account, it is based on what people put value on for what they are getting for there money. Like an agreed upon currency, that all people agree to, its really just a barter system. Very easy to use the Fed Coin to buy any currency, but it not a requirement to buy any of these coins, its just the return is going to be so good for the price it is now. I also thought it is was very interesting the article I posted appeared on the HSBC website. The bank was speaking of going to a cashless society by 2020, the bank that will be exchanging our Zim, just very interesting they are making sure people realize they are not going to give you this money in cash, it will be mostly be digital, to support there new CIPS system.

I hope someone else can give a better description, as this is how I understand the Coin market.

Sincerely

Reallucky1

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