Bitcoin cuts out the Central Banks -- the source of power for the financial elites.
Hence the histrionics over bitcoin.
Bitcoin cuts out the Central Banks -- the source of power for the financial elites.
Hence the histrionics over bitcoin.
Brave New World wrote:
Hardloper wrote:
The intrinsic value of Bitcoin is the ability to participate in the payment system which has advantages over other payment systems. Whether that justifies the price it's currently trading at is another story.
Some advantages include not being able to touch or see it, nobody accepting bitcoin, and when you find someone that does, having to use ridiculously small fractional increments.
Great point, it's nicer to do transactions with ridiculously huge numbers like you can with Zimbabwean dollars
http://money.cnn.com/2017/12/22/investing/bitcoin-plunges-below-14k/index.htmlNight observer wrote:
Anybody who doesn't know that bitcoin is severely over valued and is riding a big bubble, will be in for a huge surprise. I expect a major correction before the end of the year.
And when it starts, it will be huge
night observer wrote:
http://money.cnn.com/2017/12/22/investing/bitcoin-plunges-below-14k/index.htmlNight observer wrote:
Anybody who doesn't know that bitcoin is severely over valued and is riding a big bubble, will be in for a huge surprise. I expect a major correction before the end of the year.
And when it starts, it will be huge
So where the hell are the headlines now that's it's gained it all back and virtually as quickly? Face it, no one knows where this is headed, and even more importantly, in what timeframe. But hey, keep talkin' it up. Even negative press spreads the word.
night observer wrote:
http://money.cnn.com/2017/12/22/investing/bitcoin-plunges-below-14k/index.htmlNight observer wrote:
Anybody who doesn't know that bitcoin is severely over valued and is riding a big bubble, will be in for a huge surprise. I expect a major correction before the end of the year.
And when it starts, it will be huge
Boom. Spot on
Please keep buying bitcoin.
http://reason.com/blog/2017/11/10/bitcoins-crazy-price-rise-might-lead-own
Bitcoin is for losers. Bitcoin is for people who don't know how to invest in the stock market long term. Bitcoin is for people who don't know about ROTH IRAs
seattle prattle wrote:
night observer wrote:
http://money.cnn.com/2017/12/22/investing/bitcoin-plunges-below-14k/index.htmlSo where the hell are the headlines now that's it's gained it all back and virtually as quickly? Face it, no one knows where this is headed, and even more importantly, in what timeframe. But hey, keep talkin' it up. Even negative press spreads the word.
It will fall again. That is a logical prediction, but you are right,
No one knows the future for certain.
But it is worthless at its foundation. At some point, people who don't sell will be very sorry.
My Poly Sci prof says bitcoin is the most important development for mankind since Islamic cleric Al-Hyatham invented SCIENCE back long ago in 1000AD.
Shoebacca wrote:
So what you're saying is Bitcoin wealth distribution is about as lopsided as regular wealth distribution?
Bitcoin is currency with no backing. It's like if we traded paper dollars without gold or silver backing up its value. This makes it hard for me to want to get involved with it.
Then there is something like Ethereum that acts as an equity since it creates its own value by having corporate uses. I can more understand getting behind it. Except its success then depends upon people adopting it as their preferred platform and the fact that it is a currency becomes less important.
I don't think Bitcoin is worth the risk now that it's on the open market. Maybe it doubles or triples again in the next 10 years, but it's just as likely to plummet. The blockchain that succeeds will be the one that can actually computer more than a dozen transactions per second.
IDIOT.
Do you know what FIAT money is ? PRINT PRINT PRINT... INFLATION INFLATION INFLATION.
Bitcoin is FIXED at 21million COINS. DONE. Will never be anymore, they will actually start to decrease. Currently 18 million are in circulation.
Bitcoin will do the exact opposite of the US dollar it will have deflation which is good for purchasing power.
Conundrum wrote:
As long as everyone believes and buys Bitcoin it is a great investment, as soon as people realize the emperor has no clothes the bottom will fall out.
I know the currency we currently use does not have intrinsic value too, but it has a thousand years of history and governments behind it.
Social Security, yes. Bitcoin, no.
Next question.
Down goes the BTC wrote:
https://www.facebook.com/business/news/new-ads-policy-improving-integrity-and-security-of-financial-product-and-services-ads
I invested early and am up $426, 750 as of today. But...I'm getting out now, Buffet is right.
Even soccer is doing it.
Conundrum wrote:
As long as everyone believes and buys Bitcoin it is a great investment, as soon as people realize the emperor has no clothes the bottom will fall out.
I know the currency we currently use does not have intrinsic value too, but it has a thousand years of history and governments behind it.
Most people really don’t know much about BITCOIN, but this explanation may well be how it will turn out...
A lot of monkeys lived near a village.???????
One day a merchant came to the village to buy these monkeys!??????
He announced that he will buy the monkeys @ $100 each. ??
The villagers thought that this man is mad.?
They thought how can somebody buy stray monkeys at $100 each??
Still, some people caught some monkeys and gave it to this merchant and he gave $100 for each monkey. ?
This news spread like wildfire and people caught monkeys and sold it to the merchant.?
After a few days, the merchant announced that he will buy monkeys @ $200 each. ???
The lazy villagers also ran around to catch the remaining monkeys!??????
They sold the remaining monkeys @ $200 each.?
Then the merchant announced that he will buy monkeys @ $500 each!
??????
The villagers start to lose sleep! ... They caught six or seven monkeys, which was all that was left and got $500 each.???????
The villagers were waiting anxiously for the next announcement.?
Then the merchant announced that he is going home for a week. And when he returns, he will buy monkeys @ $1000 each!???????????
He asked his employee to take care of the monkeys he bought. He was alone taking care of all the monkeys in a cage.??????????????????????????????????????????????��?
The merchant went home.?
The villagers were very sad as there were no more monkeys left for them to sell it at $1000 each.☹??
Then the employee told them that he will sell some monkeys @ $700 each secretly. ?
This news spread like fire. Since the merchant buys monkey @ $1000 each, there is a $300 profit for each monkey.?
The next day, villagers made a queue near the monkey cage.??????????????????
The employee sold all the monkeys at $700 each. The rich bought monkeys in big lots. The poor borrowed money from money lenders and also bought monkeys!
????????????????????
The villagers took care of their monkeys & waited for the merchant to return. ?
But nobody came! ...? Then they ran to the employee...?
But he has already left too !?
The villagers then realised that they have bought the useless stray monkeys @ $700 each and unable to sell them! ??????????
The Bitcoin will be the next monkey business
?
It will make a lot of people bankrupt and a few people filthy rich in this monkey business. ???
That's how it will work.