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jump to last post 1-5 of 5 discussions (19 posts)

Bitcoin just passed the $10,000 mark...

  1. jackclee lm profile image82
    jackclee lmposted 6 months ago

    The value of Bitcoin, a digital currency, has just passed the $10,000 mark.
    It has increased in value by 10 folds in just one year...
    Is this a super bubble or a legitimate investment class?

  2. colorfulone profile image85
    colorfuloneposted 6 months ago

    It is legit!  I will add, for now anyway.  Many, many very happy people getting rich, some are becoming millionaires very quickly.

  3. aguasilver profile image76
    aguasilverposted 6 months ago

    My only problem with digital currency is that it can be annulled as quickly as I could delete this post... and it has some abnormalities in it, such as:

    Why do these people want my 'worthless' fiat currency in exchange for their precious 'bitcoin' (substitute 'gold' 'silver' or whatever other commodity they are selling)?

    Makes no sense.

    All the programs that have been sent to me seem to want folk to hold their digital currency for a given period of time.. I've been rich on paper more than once, it actually means nothing until you cash in the investment and convert it into something you hold as a real and tangible asset.

    The long term aim of the elites is to ensure that ALL wealth is digitalised, so in time your house will have a digital signature and value, which you can trade with.... until someone decides to close your access and privileges down.

    I was involved in compliance for debit and credit cards, anybody in that position can shut your electronic access to your money or assets with ONE click of the button.

    Today is NOT a good time to place trust in digital assets.

  4. psycheskinner profile image83
    psycheskinnerposted 6 months ago

    I think bitcoin is here to stay, but the current value is inflated.

    If we end up with no digital infrastructure every currency will lose it's value including gold and silver.  So all currencies are the same on that front.

    1. jackclee lm profile image82
      jackclee lmposted 6 months agoin reply to this

      Not true. Gold and silver have intrinsic value. Paper is just an IOU backed up by uncle Sam. Bitcoin is an illusive currency that no one or group control. That is the problem, it can be abused and no one will be held accountable.

      1. psycheskinner profile image83
        psycheskinnerposted 6 months agoin reply to this

        Gold and silver has no intrinsic value.  It is just analogue bitcoins, shiny and useless and worth whatever the market pretends they are worth.  If the internet collapses and the economy falls apart a gold bar is worth less than a tin of beans.

        1. aguasilver profile image76
          aguasilverposted 6 months agoin reply to this

          Actually a tin of beans is probably worth more than either of those 'precious' metals when the SHTF and people are starving...

        2. jackclee lm profile image82
          jackclee lmposted 6 months agoin reply to this

          Gold and silver has value because it is used in electronics... they make excellent conductors and it is used in jewelry...they are pure and hold its state for thousands of years...and do not rust like most other metals...they can be used as items to barter...where as paper money is just worth the paper it is printed on. When hyper inflation comes such as in Germany after the war, the Mark was worth literally nothing.

  5. aguasilver profile image76
    aguasilverposted 6 months ago

    The best suggestion I have heard for the eventual SHTF scenario, was to buy and store bullets of all calibres... the thinking was, if you have bullets, you can protect yourself, and trade or use them to gain assets.

    As for me, I will dwell and abide in the protection of Psalm 91.

    1. jackclee lm profile image82
      jackclee lmposted 6 months agoin reply to this

      The ignorance of people when it comes to finance is mind boggling. That is why we continually have scandals and crashes and booms and bust every so many years going back to the 1980s. It is also the reason the pyramid schemes are recurring in various forms and many people fall for the get rich quick schemes. The old adage of a sucker born every second is true today...

      1. colorfulone profile image85
        colorfuloneposted 6 months agoin reply to this

        New investor, put $9300 in, and in 24 hours earned 20%.
        https://www.youtube.com/watch?v=cGjs_AIQD6w

        1. colorfulone profile image85
          colorfuloneposted 6 months agoin reply to this

          White House: Bitcoin 'being monitored' for possible regulation
          http://www.washingtonexaminer.com/white … le/2642207

          I welcome regulation of Bitcoin and the crypto-currencies, to a point.  We need regulations around the schemes and all the criminality that goes on, etc . After all, the plan for the future, is the Cryptos.

        2. jackclee lm profile image82
          jackclee lmposted 6 months agoin reply to this

          That is a classic scam, pump and dump...

          1. colorfulone profile image85
            colorfuloneposted 6 months agoin reply to this

            Where else can you earn 20% in 24 hours?
            Sure you have to pay taxes on your gains.
            All loses should be written off against the gains.

            1. jackclee lm profile image82
              jackclee lmposted 6 months agoin reply to this

              You can get 100% return on some penny stock or better yet go to the casino and place a bet on roulette red or black. That is exactly what you are doing with bitcoin, gambling...

              1. colorfulone profile image85
                colorfuloneposted 6 months agoin reply to this

                Do you have a trusted accountant for your portfolio that you can talk to about cryptos?

                1. jackclee lm profile image82
                  jackclee lmposted 6 months agoin reply to this

                  I am my own trusted accountant...haha

                  1. jackclee lm profile image82
                    jackclee lmposted 6 months agoin reply to this

                    Here is the truth and bottom line about bitcoin.
                    It is a bubble that can and will bust just that no one can predict when it will occur.
                    It is a form of currency that - is ideal for criminals and facilitate criminal activities...
                    It is subject to no regulations of any kind...which is one of its selling points. However, because of no regulations or accountablity...it is prone to abuse and fraud and criminal activity including being robbed of your assets.
                    It will die of its own weight and go the way of the tulips...
                    It will be written about post mortem - and the question would be...how did so many smart people fell for this scam? Just like the dot.com bust in 2000.
                    Mark my words...come back to this post a few months or years from now.
                    Nothing good will come of bitcoin.

 
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