Cryptocurrencies

[Robert_Anderson]

Originally Posted by PHC1

Any Bitcoin owners among us?

I recall when I first read about it some years ago it caught my eye and I gave it some thought but decided against it then as it seemed like some kind of a scam to me more than an investment.

Of course with $1,200 spent on some 480,000 bitcoins, the investor would be worth at least $1.1 billion today... Over the course of seven years, bitcoin’s value has multiplied 879,999 times over since 2010. WOW... Imagine if we invested some of the "audio money" that many of us spent over the years into the Bitcoin!

I do believe many more are paying attention to it today than 7 years ago. It has also been highly volatile over the past year and has also skyrocketed! With all the geopolitical turmoil going, it's no wonder but it may also be a huge bubble ready to pop since people are rushing in to capture the upside.

It does offer some kind of a safety net over the possible implosions of most countries' FIAT money systems where the currency is only as good as the faith in the government that issues it, like our dollar for example since we are not on the gold standard since the Nixon era and our money is not convertible to anything anymore.

It's all just paper after all and in times of crisis it can become worthless overnight. History has shown us examples of that. Weimar Republic Mark Hyperinflation, the Zimbabwe 100 Trillion dollar bills, where a loaf of bread costs a 300 billion dollars today... and there are many more. History does tend to repeat itself. Will the cryptocurrencies offer some safety net against the dark times?


What are your thoughts on it?

l could use some advice on this one, too. This new job sucks, and I need more cash - Bitcoin, slinging dope, blowing guys at the airport? I need some options here...............

[PHC1]

Originally Posted by Robert_Anderson

l could use some advice on this one, too. This new job sucks, and I need more cash - Bitcoin, slinging dope, blowing guys at the airport? I need some options here...............

All viable options Robert, each comes with it's own set of risks... From the three options listed, Bitcoin would carry the most risk.

[Robert_Anderson]

Originally Posted by PHC1

All viable options Robert, each comes with it's own set of risks... From the three options listed, Bitcoin would carry the most risk.

..........and the most shame.................

[antipop]

I'm waiting for the reporting on guys who have quit their job to daily trade on bitcoin and how they are raking millions... who will then dissapear in complete anonymity and ass broked.

Year 2000 much?

[ylee]

I think cryptocurrencies will follow in the footsteps of the dotcom bubble. There will be a crash followed by a steady and realistic growth based on actual usefulness and utility AS A CURRENCY. Right now it's a ponsi scheme waiting to blow up.

[DonBattles]

http://money.cnn.com/2017/12/07/inve...ftc/index.html

I think what the Fed and "Big Banks" don't like is they haven't (read cannot) found a way to control it.

[GreginNH1]

Originally Posted by DonBattles

http://money.cnn.com/2017/12/07/inve...ftc/index.html

I think what the Fed and "Big Banks" don't like is they haven't (read cannot) found a way to control it.

I suspect that is one of the reasons why Bitcoin is so appealing to some.

[antipop]

The two category of people using bitcoin:
- drug dealers
- speculators

I don't want to be associated with either...

[PHC1]

Originally Posted by antipop

The two category of people using bitcoin:
- drug dealers
- speculators

I don't want to be associated with either...

Very narrow minded statement.

Considering how many retailers around the world are on board including Amazon in the very near future, Bitcoin is far from the dark underground currency you are imagining. Here is a partial list of retailers on board. https://99bitcoins.com/who-accepts-b...take-bitcoins/

[PHC1]

$17,738 and climbing.