Anyone on the Bitcoin train?

[1957Buck]

The US Dollar is backed by gold in the US reserve

 

Read the Bill it is a Note like an IOU. Whats in Your Wallet??? 

[1957Buck]

CNBCH Bussiness Channel had 1/2 hour Friday on Bitcoin. The 3 trading houses explained their opinions and the only one said they MIGHT Trade the IPO=== One said it is a wait and see the 3rd the biggest said In No way would they touch it and if any of there brokers try to sell it the would be FIRED.    They called it a Ponzi Scheme Pyramid. 

[BenedictGomez]

Futures already up 20% on 1st day of trading.   This is pure madness.

 

https://www.cnbc.com/2017/12/10/bitcoin-futures-set-to-trade-on-cboe-sunday-evening.html

 

 

I see this as troubling going forward in one respect, I guarantee the fact there are now listed futures is going to trick many people who don't understand investing into thinking that Bitcoin is more "real" and stable and less risky than it really.

 

  The reality is this is not the case, you can create a futures market for virtually anything - including a virtual currency.

Edited December 11, 2017 by BenedictGomez

[newjerseyhunter]

CNBCH Bussiness Channel had 1/2 hour Friday on Bitcoin. The 3 trading houses explained their opinions and the only one said they MIGHT Trade the IPO=== One said it is a wait and see the 3rd the biggest said In No way would they touch it and if any of there brokers try to sell it the would be FIRED.    They called it a Ponzi Scheme Pyramid. 

Yeah, like those guys know what the hell they are talking about. They have been wrong about Bitcoin from the very beginning when it was worth $5. 

 

IT WASN'T CREATED as an investment vehicle. It is a currency and there is a good likelihood that it or something very similar to it is the future regardless of what governments try to do in order to stop it. Anyone here who supports the 2nd Amendment or is worried about the encroachment of the gov't into our personal lives should be supporting the hell out of cryptos. 

 

  I teach this stuff to my students, so I'm very familiar with it.  And I also would never invest in it, and never have.

Hah, I hear a lot of people who completely missed the boat say stuff like this. I find it hard to believe that anyone in tech who knows anything about this stuff doesn't regret not buying when they first heard of BTC and it cost pennies. Hell, I kick myself for not having bought a bunch more. It was definitely worth taking a risk and plunking down $500 or $1000 to 50-100 BTC. Worse case you lose $1000, best case, oh sh*t, you're a millionaire! 

[Haskell_Hunter]

IT WASN'T CREATED as an investment vehicle. It is a currency and there is a good likelihood that it or something very similar to it is the future regardless of what governments try to do in order to stop it. Anyone here who supports the 2nd Amendment or is worried about the encroachment of the gov't into our personal lives should be supporting the hell out of cryptos. 

 

Hah, I hear a lot of people who completely missed the boat say stuff like this. I find it hard to believe that anyone in tech who knows anything about this stuff doesn't regret not buying when they first heard of BTC and it cost pennies. Hell, I kick myself for not having bought a bunch more. It was definitely worth taking a risk and plunking down $500 or $1000 to 50-100 BTC. Worse case you lose $1000, best case, oh sh*t, you're a millionaire! 

 

It was actually created as a proof of concept for blockchain.  That's technically the most significantly important part, the blockchain.

 

I don't regret not buying it.  I could have gotten in very early.  But no one can predict the future, so it was impossible to predict it got to where it is right now.  But I rest well at night knowing that my Apple investment way back when turned into an 8000%+ return.  That was a purely emotional buy with no rational reason to invest that money.  Ironically, it's the emotional investments that usually have the greatest payoffs...at least in my case...

[mfried]

I at least provided a courtesy warning at the beginning of it.  The details are far more mind-numbing.

what often gets left out during these discussion is why there is an inherent demand for this product.  obviously you can attach your paypal to your email and use that to move currency...but Bitcoin allows for a much more sinister alternative which does not get discussed.

[Haskell_Hunter]

what often gets left out during these discussion is why there is an inherent demand for this product.  obviously you can attach your paypal to your email and use that to move currency...but Bitcoin allows for a much more sinister alternative which does not get discussed.

 

The thought that Bitcoin transactions are completely anonymous is not accurate.  Like any other transaction it takes some effort to obscure it.  Sure, it can be done, but not by just anyone.

 

https://bitcoin.org/en/you-need-to-know

 

It's right in their FAQs.

[1957Buck]

It was actually created as a proof of concept for blockchain.  That's technically the most significantly important part, the blockchain.

 

I don't regret not buying it.  I could have gotten in very early.  But no one can predict the future, so it was impossible to predict it got to where it is right now.  But I rest well at night knowing that my Apple investment way back when turned into an 8000%+ return.  That was a purely emotional buy with no rational reason to invest that money.  Ironically, it's the emotional investments that usually have the greatest payoffs...at least in my case...

                           

[mfried]

it was the main currency used on silk road.

[BenedictGomez]

 It is a currency and there is a good likelihood that it or something very similar to it is the future regardless of what governments try to do in order to stop it. Anyone here who supports the 2nd Amendment or is worried about the encroachment of the gov't into our personal lives should be supporting the hell out of cryptos.

 

I'm not sure why you think that.   In fact, one of the biggest threats to Bitcoin, is government. 

 

Bitcoin could easily be shut-down for the masses, through fairly simple government action, which would absolutely crater the value.  It could still be employed for illegal transactions and by criminals, but its' practical value at that point would be greatly diminished.

[newjerseyhunter]

...but Bitcoin allows for a much more sinister alternative which does not get discussed.

Yes, spending your hard earned money without Big Brother's watchful eye as overseer.

 

Stop spreading FUD. You can do all those sinister things with cash. Cash is just as fungible at BTC, gold is way more fungible.

[newjerseyhunter]

I'm not sure why you think that.   In fact, one of the biggest threats to Bitcoin, is government. 

 

Bitcoin could easily be shut-down for the masses, through fairly simple government action, which would absolutely crater the value.  It could still be employed for illegal transactions and by criminals, but its' practical value at that point would be greatly diminished.

Government trying to shut it down could do just the opposite. If they shut it down another one will replace it, one that would be harder to disrupt. There are already cryptos poised to do this and others in development. More secure, more efficient, better privacy, better de-centralization.

[Haskell_Hunter]

it was the main currency used on silk road.

 

Yes, it was.  Fascinating story, I have followed it since before it was busted.  That also had "dark web" implications too.  People thought you could be anonymous on the dark web, but that was blow out of the water with this as well as many other sites being taken down by the Feds.

[Haskell_Hunter]

Government trying to shut it down could do just the opposite. If they shut it down another one will replace it, one that would be harder to disrupt. There are already cryptos poised to do this and others in development. More secure, more efficient, better privacy, better de-centralization.

This might be one platform that will actually do just that.

 

[BenedictGomez]

Government trying to shut it down could do just the opposite. If they shut it down another one will replace it, one that would be harder to disrupt. There are already cryptos poised to do this and others in development. More secure, more efficient, better privacy, better de-centralization.

 

Government doesn't need to "shut it down", a government would just have to declare it illegal. 

 

Declare it not legal tender, and it's value plummets.   Then all you have is a currency for illicit goods.    It really is that simple.