Posted on 11/02/2017 4:02:38 PM PDT by Enlightened1
It's ridding high and worth more than gold.
(Excerpt) Read more at coinmarketcap.com ...
That is called the free market.
Who insures your $250,000 from Chase? The FDIC?
I worked in banking for too long to have much faith in the FDIC. If my local community bank failed, I would have that faith. But if Chase all of a sudden went belly up because JP Morgan lost a trillion dollars on their derivative bets..then who pays the depositer?
The FDIC would go to Congress and they would authorize the printing of money to pay off your liability.
IF that happened, (And I understand it would be a world wide calamity) you might get $250k in payment, but the “value” of that money would be significantly less.
Yes, at this stage of the game Bitcoin is volatile. I bought my first one at $86. It promptly fell to $50 something. But we are very, very early in the process. Honestly this is about the ONLY point where I agree there is risk.
One of the things I ask everyone who is skeptical about this is to not just dismiss it as a flash in the pan. Rather, take some time to understand the technology and how this will revolutionize the way that individuals, governments, and companies will move towards the “blockchain” in order to enforce transparency and make data relationships much easier to manage.
This is akin to the internet in 1988.
The fact that you can engage in a conversation about it makes you one of about 2% of the population who can even voice an opinion on it.
That is what is driving larger organizations to start building the systems for their own use.
The “money” part of this is fun. Whenever anyone asks if they should invest in it, I ask them for a $20 bill. I tell them to rip it up, and throw it out the window. Now imagine how that feels. How much of that can you stand to do before it “hurts.”
That is how to start investing in Bitcoin. And only bitcoin. There are about 2,000 cryto-currencies out there. 90% of them are scams. The trick is to find the ones that are not. I haven’t been able to figure that out yet.
Several years ago my daughter gave me $100 of her birthday money. She thought the whole thing was cool. That $100 is worth $1,719 this morning. I don’t let her put any more into that account until her student loans are paid.
Yes...this is fun. It is not for the weak kneed. A little skin in the game is a good teacher.
Of course. If you buy tulips low and sell tulips high... great!
But if you buy tulips high expecting tulips to go ever higher forever...
Bitcoin air ~ Fiat, debt based dollar.
We are screwed either way. Pick your poison! :-)
I can still trade with paper currency, so there is still a manner in which the value is not stored on someone's computer somewhere.
Bitcoin is simply an accounting system not controlled by the Fed.
I don't believe that condition will persist. At some point I see the Fed and the Federals moving to gain control over it, and if they can't, I expect them to ban it.
Call me a cynic, but that's what I expect to happen.
Thank you captain obvious.
I took our Cub Scout pack to the Minneapolis Federal Reserve last fall and each and every Bill that banks trade goes right into an machine that catalogs the serial number, determines condition, and tracks where it has been in the banking system. I don't think someone using cash today is pulling anything over on a serious investigator. We watched the money go through the machines.
I don't believe that condition will persist. At some point I see the Fed and the Federals moving to gain control over it, and if they can't, I expect them to ban it.
You might be right. I don't it will hold its value either.
None of my comments were directed at you personally. Enjoy your gains and relax.
I was offered Bit Coins several years ago, but not understanding, I passed. The price was very cheap.
Another “boat” I missed.
So it’s not just the prime numbers then, or is it?
To verify that a 29 digit odd number not ending in 5 is prime, you would need to divide by every odd number not ending in 5 up to 10^15.
Although, once you’ve done that, you would have a list of primes, so you’d narrow your search for the next one.
I’ve got a similar return from Bitcoin from getting in earlier this year. Granted, I only put a very small amount in to satisfy my curiosity and see how it worked. But I’ve already spent and taken out in cash far more than I put in, and the amount I have sitting in there still is about 3 times what I put in. Not much money, but no ripping up 20’s here. I put 40 bucks in just for the heck of it when it was in the 700’s. Currently I have over a hundred that I’ve left sitting there, I took out 100 in cash one time a while back, and spent a bunch of bitcoin directly, mostly on Steam games.
But no, I don’t recommend putting money into it you can’t afford to lose. I do have a few coworkers who put in like 500 bucks and cleaned up pretty well. All have taken most of the balance out by now, leaving only their original investment sitting in bitcoin.
I put in four figures in 2012. I have been taking out a very good salary (all subject to taxes!) My household debt has been cut in half, the mortgage should be paid down years ahead of time.
It could go to zero tomorrow and my overall net is multiples of my investment. It like golf. I don’t ask how... but how many.
I think the technology has a future. The bitcoin itself? I don’t really care now. It’s all gravy. Even with my nice uncle looking over my shoulder.
if you have bitcoins and don’t want them send them to me!!@ 1Fujw9WtnNCeAFgZUHZhSRG2sH6dsNzeut /lol
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