Those whose currency value is based on faith.
Those who want total control over all financial transactions.
Those who want to squeeze every possible tax on each transaction.
Those who do not want there to be an alternative to their designated money.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Those whose currency value is based on faith.
Those who want total control over all financial transactions.
Those who want to squeeze every possible tax on each transaction.
Those who do not want there to be an alternative to their designated money.
@Baley said:
Most of this crowd won't own stock shares of an established company with profits and dividends, much less invest in a promising growth company that currently operates at a loss, or buy/run cash flow positive rental real estate, are unlikely to buy enough ( % of net worth) of a digital currency to matter. Oh, i might buy 1/10 of a bitcoin just to say i did it, but bet big, no. Worked too hard to build it, I'll still prefer the gold i can hold, and land i can walk on, and a tiny fraction of a business i can buy it's products and visit it's address and go to it's shareholder meeting and it's a real thing. Yes those things are represented by legal papers and digital numbers, but buy pure Code stored on cloud computer?
Hey that's why they call it insurance, insurance investors on this board, people here on these boards want to make any money on an investment? Nah...
Alotta doctorate degrees on how you can't though and of course they would rather be known as collectors and/or insurance connoisseurs...
Buffett has lost out on billions of dollars on things he doesn't understand. He said that himself, if he doesn't understand it, he doesn't buy it. He has done well on the things he does understand though. Maybe Berkshire would be the first $Trillion company if he understood a little more about techie stuff. He says "it's decentralized, not regulated, etc". Precisely what draws people to cryptos. A way to be your own bank without having anybody else meddling in your business.
Cohodk, g'ments and banks don't like BTC (and other cryptos) because it takes them out of the equation completely. You can't stop it. Nobody can stop it. It's here to stay and get bigger buddy.
@ Elite CNC Routing & Woodworks on Facebook. Check out my work. Too many positive BST transactions with too many members to list.
@lseecon said:
My personal problem with this crypto currency isn’t how to get in, rather how to get out , afterward. Sure, the bitcoin has exploded in value, but how to profit ? Do you sell it or use it among vendors who accept it ? Still unable to wrap my head or arms around it.
Its not rocket science. How do you profit from your precious metals? Do you use your gold among vendors who accept gold? Bitcoin is no different. When I want to sell a physical ounce of gold , I take it to a local coin dealer and I sell it for cash. When I want to sell a Bitcoin, I sell it on one of the hundreds of "exchanges" and they give me cash. Just like when I sell a stock on E trade, the stock is sold, then I have cash in my E trade account, I wire the cash to my bank account. Same thing with bitcoin. If you have enough computer literacy to post a message on message board, you can buy and sell bitcoins. Though selling bitcoins is not wise. Buying and holding bitcoins is wise.
As a long time goldbug myself, I still dont understand why more goldbugs havent diversified into bitcoins over the last few years. What attracted me to gold 30 years ago, attracted me to bitcoin when I first read about it. Government cant print unlimited amounts, supply limited, decentralization, store of value, alternative to cash and stocks. I dont believe Bitcoin will ever be used as a medium of exchange, just like I dont think gold ever will either. I bought bitcoin as a store of value and alternative to fiat money.
I frequently read this thread mainly to make sure most of the long term gold bugs remain skeptical on bitcoin. It gives me assurance that bitcoin is still very early in the adoption phase and people still are skeptical on buying it as an alternative to gold and other stores of value.
I love to read all the negative things people write about bitcoin, so please keep them coming!!!!
Excellent post. My only regret is that I wish I'd have found cryptos sooner.
I guess people think all those keystrokes they make in their online banking, stock accounts, etc is worlds apart from the way you can treat and use cryptos?
@ Elite CNC Routing & Woodworks on Facebook. Check out my work. Too many positive BST transactions with too many members to list.
I guess people think all those keystrokes they make in their online banking, stock accounts, etc is worlds apart from the way you can treat and use cryptos?
Being able to walk into a local branch to withdraw money or liquidate stocks offers some peace of mind. Regulatory protection from theft adds to that peace of mind.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
I guess people think all those keystrokes they make in their online banking, stock accounts, etc is worlds apart from the way you can treat and use cryptos?
Being able to walk into a local branch to withdraw money or liquidate stocks offers some peace of mind. Regulatory protection from theft adds to that peace of mind.
Absolutely agree with this.
What people seem to not understand (or not want to understand) is that regulation is not always bad. Deregulation often leads to corruption, bad choices, and ultimately bubbles.
does the lack of regulation facilitate bitcoin owners being fleeced by the big financial firms ? Or is it making it harder for them to fleece people? If they are upset its probably the latter.
I mean getting sold worthless swampland in Florida is okay if a big company does it to you , but when every joe sixpack can get in on it , well then its gone too far
Hope everyone has their popcorn ready, emphasis on Pop!
Big block up to $1,283 and climbing on the news that bitcoin truly has no clues on how to fix the ridiculously slow transaction speeds, steadily rising fees, and over the top energy consumption. I expected this to happen with the second fork, but it seems by them canceling it, it proves that BTC is in a place where it won't be able to stay to survive. Oh to have 8MB block sizes, isn't it sweet? Bitcoin can't even make it to 2MB.
I've said it before and I'll say it again: Bitcoin is a very, very poor coin. And overpriced by magnitudes of tens. See you guys in a few months.
Looks like two more hard forks are possible, if not likely by the end of the year. All I can say is, I dare them. they'll eventually learn their lessons on the fall back to 0.
Bitcoin is useless as a currency. Store of wealth? Lmao, I guess. Cureency? Will not ever happen. Too slow, heavy (power), expensive. Shitty coin on an already overworked (with near zero implementation, no less) network. I find it all, delicious.
Big Block to a new all time high $2,011.94 from around 600 days ago.
Trading volume trouncing BTC 9.12 Billion to 6.4 Billion, now #2 in overall market cap
I give it one more hard fork before it passes garbagecoin for #1, for good. I told you folks, asking for trouble with the forks that solve exactly shit, and dilute the (poor) product. Been saying it for literally months. Cheers! Enjoy the roller coaster, I sure as hell am.
Dang! It's taken quite a hit since I last checked! I would never touch this stuff. Indeed something to just sit back and watch. It's been interesting so far...
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
@lseecon said:
wheres Sango? Bitcrash no good. Bitcoin the real deal. Bitcrash, pump and dump.
He apparently only posts when price declines, not so much when it rises, lol..
So much for that crash..
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
I remain fascinated by Bitcoin, but the whole electronic hackable "store of wealth" thing just prevents me from jumping aboard. If this thing goes up forever, congrats to the visionaries who took the plunge... my gold coins are still more fun to pull out of the SDB and look at. If it crashes spectacularly in tulip-like fashion, I would not be surprised either.
I watched on the sidelines for long enough. Finally making the jump and diversifying my holdings a little bit. If I had done it when I had first thought about doing it I could have retired by now.
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
The bitcoin... and other intangible ventures, sure do provide entertainment. I am sure some people have reaped profit... though I am equally sure some will remain until it crashes..... Cheers, RickO
The wild, massive swings in BTC prices (hundreds of dollars in a day, up or down) make this speculation activity unique. Unlike most bubbles (where prices just go up until they don't, and then collapse), there's lots of cash poised and ready to jump in on this stuff when prices drop.
There's too much capital sloshing around, partially as a result of QE, with no place to go.
@ricko said:
The bitcoin... and other intangible ventures, sure do provide entertainment. I am sure some people have reaped profit... though I am equally sure some will remain until it crashes..... Cheers, RickO
just a matter of time before precious metals get cryptocized with backing a block chain product. When this occurs true price discovery will change the way PMs are priced and the paper ETFs and futures markets will suffer.
A crypto product backed by gold is in the future.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Sorry guys, I was little off with my prediction. Looks like a good bit over $10,000 by years end as we are knocking on the door right now.
The big institutional money hasn't hit yet. When it does, Katy bar the door.
Latest prediction from the forecast I follow is $30,000-$40,000 by end of next fall.
2018 is gonna be a wild ride as more and more of the population is going to be aware of it and begin to adopt the technology and as a good many of the companies that have crypto platforms being set up come online.
@ Elite CNC Routing & Woodworks on Facebook. Check out my work. Too many positive BST transactions with too many members to list.
I constantly hear butcoin being compared to gold and thusly should have an equal market cap. Why is bit coin compared to gold? Why should crypto be worth as much as gold?
@cohodk said:
I constantly hear butcoin being compared to gold and thusly should have an equal market cap. Why is bit coin compared to gold? Why should crypto be worth as much as gold?
Why should tulips have been worth more than gold? Answer: speculators.
When fundamentals do not dictate price, speculators (or lack of) will always fill the void. And while many of them get rich they do so at the expense of another party. If ya gonna speculate don't hang around for the fallout.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Comments
Anything that lowers the price of gold is good for stackers
What govts "fear" bitcoin?
Knowledge is the enemy of fear
Those whose currency value is based on faith.
Those who want total control over all financial transactions.
Those who want to squeeze every possible tax on each transaction.
Those who do not want there to be an alternative to their designated money.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Apparently the Chinese were concerned about Bitcoin's use as a device to move yuan out of the country:
https://www.theverge.com/2017/9/18/16326078/chinese-regulators-ban-cryptocurrency-platforms-bitcoin
Evidently, though, the effort hasn't had the impact they'd wanted:
https://www.ft.com/content/d576e4e4-c374-11e7-a1d2-6786f39ef675
Here's a warning parable for coin collectors...
So gold bugs?
Knowledge is the enemy of fear
Buffett's take.
Hey that's why they call it insurance, insurance investors on this board, people here on these boards want to make any money on an investment? Nah...
Alotta doctorate degrees on how you can't though and of course they would rather be known as collectors and/or insurance connoisseurs...
Anything less would be uncivilized...
Buffett has lost out on billions of dollars on things he doesn't understand. He said that himself, if he doesn't understand it, he doesn't buy it. He has done well on the things he does understand though. Maybe Berkshire would be the first $Trillion company if he understood a little more about techie stuff. He says "it's decentralized, not regulated, etc". Precisely what draws people to cryptos. A way to be your own bank without having anybody else meddling in your business.
Cohodk, g'ments and banks don't like BTC (and other cryptos) because it takes them out of the equation completely. You can't stop it. Nobody can stop it. It's here to stay and get bigger buddy.
Too many positive BST transactions with too many members to list.
Excellent post. My only regret is that I wish I'd have found cryptos sooner.
I guess people think all those keystrokes they make in their online banking, stock accounts, etc is worlds apart from the way you can treat and use cryptos?
Too many positive BST transactions with too many members to list.
Being able to walk into a local branch to withdraw money or liquidate stocks offers some peace of mind. Regulatory protection from theft adds to that peace of mind.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Absolutely agree with this.
What people seem to not understand (or not want to understand) is that regulation is not always bad. Deregulation often leads to corruption, bad choices, and ultimately bubbles.
does the lack of regulation facilitate bitcoin owners being fleeced by the big financial firms ? Or is it making it harder for them to fleece people? If they are upset its probably the latter.
I mean getting sold worthless swampland in Florida is okay if a big company does it to you , but when every joe sixpack can get in on it , well then its gone too far
Pandora is down but I still turn it up.
Bitcoin is up but I still turn it down.
Beware of Digital "bugs"
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Saw Mnuncin say 'they' are looking into regulating bitcoin....because of nefarious dark web reasons.
Lol, get your popcorn ready.
Hope everyone has their popcorn ready, emphasis on Pop!
Big block up to $1,283 and climbing on the news that bitcoin truly has no clues on how to fix the ridiculously slow transaction speeds, steadily rising fees, and over the top energy consumption. I expected this to happen with the second fork, but it seems by them canceling it, it proves that BTC is in a place where it won't be able to stay to survive. Oh to have 8MB block sizes, isn't it sweet? Bitcoin can't even make it to 2MB.
I've said it before and I'll say it again: Bitcoin is a very, very poor coin. And overpriced by magnitudes of tens. See you guys in a few months.
Looks like two more hard forks are possible, if not likely by the end of the year. All I can say is, I dare them.
they'll eventually learn their lessons on the fall back to 0.
Bitcoin is useless as a currency. Store of wealth? Lmao, I guess. Cureency? Will not ever happen. Too slow, heavy (power), expensive. Shitty coin on an already overworked (with near zero implementation, no less) network. I find it all, delicious.
I ponder this...
Who gets rich when the bitcoin bubble bursts? In other words, how can one go about "shorting" it?
Big Block to a new all time high $2,011.94 from around 600 days ago.
Trading volume trouncing BTC 9.12 Billion to 6.4 Billion, now #2 in overall market cap
I give it one more hard fork before it passes garbagecoin for #1, for good. I told you folks, asking for trouble with the forks that solve exactly shit, and dilute the (poor) product. Been saying it for literally months. Cheers! Enjoy the roller coaster, I sure as hell am.
BCH $2,486 hahahahahahahaha
MOAR
Question:
When was the last time any coin, ever DOUBLED bitcoins daily 24hr volume, for even one second?
Answer: it has never happened. Until right now
Goose is cooked, popcorn is popping, feet are up.
Big Block will be $3,000 usd by morning
Big blocks and hard forks......sounds like a bad porno.
Knowledge is the enemy of fear
Amen
Dang! It's taken quite a hit since I last checked! I would never touch this stuff. Indeed something to just sit back and watch. It's been interesting so far...
My YouTube Channel
Stick a fork in it...
BCH crash currently at $1209, Sango, you were saying?
My $ is on LTC, OMG, and PPT.
Too many positive BST transactions with too many members to list.
Back up near $7,000 today...
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
wheres Sango? Bitcrash no good. Bitcoin the real deal. Bitcrash, pump and dump.
He apparently only posts when price declines, not so much when it rises, lol..
So much for that crash..
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
7,758 BTC
907 GBTC
Crazy week, crazier recovery...
Approaching 8,000 now...it's rather remarkable.
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
After Slamming Bitcoin As A Money Laundering Tool, JPMorgan Busted For Money Laundering
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
I remain fascinated by Bitcoin, but the whole electronic hackable "store of wealth" thing just prevents me from jumping aboard. If this thing goes up forever, congrats to the visionaries who took the plunge... my gold coins are still more fun to pull out of the SDB and look at. If it crashes spectacularly in tulip-like fashion, I would not be surprised either.
I watched on the sidelines for long enough. Finally making the jump and diversifying my holdings a little bit. If I had done it when I had first thought about doing it I could have retired by now.
Successful Transactions With: JoeLewis, Mkman123, Harry779, Grote15, gdavis70, Kryptonitecomics
Welcome to the world of Cryptocurrency
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
1 Bitcoin equals 8225.00 US Dollar I just can't believe someone would actually fork over that kind of money for one.
Just crazy.
My YouTube Channel
Sango says $8,800...sell! Lol..
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
The bitcoin... and other intangible ventures, sure do provide entertainment. I am sure some people have reaped profit... though I am equally sure some will remain until it crashes..... Cheers, RickO
$9,232
What a RIOT! ;-)
The wild, massive swings in BTC prices (hundreds of dollars in a day, up or down) make this speculation activity unique. Unlike most bubbles (where prices just go up until they don't, and then collapse), there's lots of cash poised and ready to jump in on this stuff when prices drop.
There's too much capital sloshing around, partially as a result of QE, with no place to go.
Here's a warning parable for coin collectors...
You mean greed? I totally agree.
The inevitable crash of cryptotulips will be beyond epic.
just a matter of time before precious metals get cryptocized with backing a block chain product. When this occurs true price discovery will change the way PMs are priced and the paper ETFs and futures markets will suffer.
A crypto product backed by gold is in the future.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Sorry guys, I was little off with my prediction.
Looks like a good bit over $10,000 by years end as we are knocking on the door right now.
The big institutional money hasn't hit yet. When it does, Katy bar the door.
Latest prediction from the forecast I follow is $30,000-$40,000 by end of next fall.
2018 is gonna be a wild ride as more and more of the population is going to be aware of it and begin to adopt the technology and as a good many of the companies that have crypto platforms being set up come online.
Too many positive BST transactions with too many members to list.
Golly, it seems so easy!
Just buy in and up up it goes, huh?
Golly!
Liberty: Parent of Science & Industry
I constantly hear butcoin being compared to gold and thusly should have an equal market cap. Why is bit coin compared to gold? Why should crypto be worth as much as gold?
Knowledge is the enemy of fear
Why should tulips have been worth more than gold? Answer: speculators.
When fundamentals do not dictate price, speculators (or lack of) will always fill the void. And while many of them get rich they do so at the expense of another party. If ya gonna speculate don't hang around for the fallout.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Nice divy from GBTC depending on when one bought.
https://finance.yahoo.com/news/bitcoin-fund-soon-pay-distributions-210000195.html