Posted on 11/09/2013 10:20:58 AM PST by Errant
“I wouldn’t touch bitcoin. It reminds me of ‘tokens’ or credits you get in arcades or on some of the Facebook pages, even though some are apparently making tons of money..scares the crap out of this investor.”
I agree; without knowing a LOT more about it, I’ll stay away. It reminds me too much of a “South Park” episode where the kids meet YouTube star “internet millionaires” who are waiting years later to get paid...
It’s just not that easy to set up and obtain bit coins. Unless you’re harvesting them yourselves your going to get commissioned to death buying and selling them.
I view bitcoins as hot potato’s. Though I kick myself for not jumping on that bandwagon when I could have for cheap.
Bitcoin as long term investment may not be particularly wise .. but as a means of exchanging value in the short term it maybe be quite valuable.
No doubt, these same banks and the wealthy families who own them will do everything in their power to destroy anything that threatens their monopoly on creation of the world's currencies. As this brief article indicates, the legislatures, most of whom owe their allegiance not to the people but to the powerful, will meet to see what can be done. A battle royal has been launched, and it's not all BTC's fault. It has been ongoing for decades now.
He will be involved in attempting to destroy it. Look for the same players in DC, whom he controls, to be against it.
He may play both sides of it.
If you want to get a lot of info on monetary issues and the economy (and sink into a deep mental depression) read Dave Stockman’s 710 page book The Great Deformation.
There is wealth of information available for anyone who is interested. Here is another little short youtube video about the basics:
And another here:
Sure. And TPTB may successfully destroy it. But it will be after a fight. Still that's why it's important to diversify and most important to provide for long term essentials before investing in any other kind of wealth storage. I'm afraid we're in for some really bad times in the not too distant future. Prepare accordingly and by all means do your own research.
I have nothing to gain here. Just sharing what I've learned myself with my online bros and sisters... ;)
Your right, I’ve looked into it somewhat and it is fairly easy to understand, much like the stock market, bottom line for me is as long as there are buyers and sellers it will work.
With both Russia and China wanting to replace the dollar as base line standard currency, it may be, this bitcoin will be a more than adequate hedge, after all the dollar is just a piece of paper that has no foundation except the confidence of the American people, since the gold standard was removed, and confidence is waning fast.
There is also an exchange I read about where you can invest in bitcoin for as little as Twenty Dollars a month, like you can an IRA or 401K and take advantage of dollar (bitcoin) cost averaging, for someone who doesn’t have a lot of money, there will be plenty of downside opportunities as it stabilizes over the next decade or so. I am kinda of excited about the whole idea as so many already are, who can look over the top edge of this box we are in, bitcoin is just in its infancy, I think, time will tell.
In the broad view it is really an amazing idea, and gov’t will have a hard time regulating it, but Wall Street will help them.
Sounds like a heavy read alright. I do try to keep up with what the likely scenario will be, and when. I think I already have a pretty good handle on it. That's why most of my reading and research currently centers around the scriptures - except when I just have to escape from it all, then I go grab something that keeps me on the edge of my chair. :-)
Let's hope the folks who designed the software, aren't the same ones who designed the Zero healthcare website. lol
I think that's one reason stocks are going up. They are being used as money by the wealthy and as a place to dump excess fiat being printed by those who have access to it (i.e., NOT Main Street). Much like bitcoins, stocks and bonds are able to be "cashed-in" electronically from almost anywhere with little interference by government, and are more "acceptable" as a means of wealth storage in the minds of most.
What goes up must come down
I know, just wondering what angles Soros would likely play on this.
Like his “Both against the middle” play he did against the Bank of England.
I don't understand it at all, and I'm usually pretty good at math and economics concepts.
I'd want an alternative money based on something real, obviously not counterfit, and durable that could always be sold for whatever the traditional money is that people are using.
In my mind, silver dollars come the closest to that.
Just as much fiat money as any of the other currencies on the world, except that there are some limits to how much can be produced - unlike either the US or Zimbabwe dollars.
True. But it's also true that early participants in a chain letter, or more legitimate multi-marketing schemes like Amway or Herbalife do very well, while later entrants do not. Time will tell.
>>”you would be a very, very rich man today.”
Is there somewhere you could cash it into dollars?
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