Posted on 11/02/2017 4:02:38 PM PDT by Enlightened1
I'm getting the impression that you have quite a lot of knowledge regarding finances and investments. Well it's good to know that you see this thing in the same light that I see it.
25 yrs, over half my life.
Well I bought 4 bitcoin at 250 dollars each to use while overseas for ordering things online. Never used them.
I just sold one for 4500 dollars. Still have 3 . So no matter what happens I turned a 3000 profit on a 1000 investment. Nice rulips there...
Oh, ok....so you’re saying that supply and demand of bitcoin isn’t driving the price wildly higher or lower. Ok... gee, must be the backing of the bitcoin being determined to be of such value that compared to other global currency that the value of the currency should have nearly meteoric rise in comparison.
Next moron please...
So what do you see in our economic future? Is the Stock Market overinflated? I think it's over inflated. I think most of the gains under Obama were just computers trading back and forth.
I think computer trading has done to the Stock Market what computer models of Global Warming have done for the "science" of global warning.
I can’t see the future, nobody can. You can only PLAN for the future.
Plan...
A lot of people made large profits on the Tulip bubble too. Isaac Newton lost his shirt.
Good on you. What you have in hand, is paper profits.
I know a very close friend that won a mega million lottery. I have many former colleagues that EACH know a mega million lottery. That said, I don’t advise in an investment strategy that includes investing in the lottery.
Sometimes, you just get lucky.
It wasnt done as an investment. It was done as an alternative purchasing method. It just turned out to be acgood buy.
Sometimes things just work out! Just like sometimes....they don’t. Funny though, how more often than not, they Don’t work out. Again, good on you.
“must be the backing of the bitcoin being determined to be of such value that compared to other global currency”
You clearly don’t understanding Bitcoin or the rules of grammar. Except for the gratuitous insult I can barely make sense of what you wrote.
I am sorry. I misread CBOE for CME. The CME is going to start futures contracts on bitcoins in Q4. Derivatives on an invisible “asset.”
I understand the difference between the two.
Every time I see an idiot post about Bitcoin here at FR I feel a duty to pound on what are likely part of a dealer network that operate on the internet to promote this crap.
Get back Satan...
Ok, enough of me on this thread. My work is done.
“Oh good grief.... really? You think businesses and people will start issuing their own currency huh?”
No doubt in my mind.
Back in 1995 I did some work for a man who owned a computer business specializing in Novell networks. I told him he needed a website.
He responded that he thought that the Internet was just a fad.
Perhaps instead of mocking you should keep an open mind. Maybe you don’t understand what you are mocking.
Cryptocurrencies are just getting started. They will be difficult for the government to regulate, however, that is what will probably drive consolidation.
You’ll probably change your mind within the next year or so. The guy I did computer work for came back to me and admitted I was right when Novell told him they were moving all of their order taking online.
By the way, what gives any currency a value is the willingness of someone to accept that currency as payment for goods or services.
The reason “government-backed” currency is popular is because government MUST be paid. Remember the two certainties in life: death and taxes?
Right now, cryptocurrency values are driven primarily by speculation, but that’s not really much different than many investments. And cryptocurrencies are safer and more secure than many other investments.
As more people and entities become willing to accept payment via cryptocurrency, the security of ownership improves, and the ease of converting between cryptocurrencies and traditional currencies grows, the popularity of cryptocurrencies will increase.
“Oh good grief.... really? You think businesses and people will start issuing their own currency huh?”
No doubt in my mind.
Back in 1995 I did some work for a man who owned a computer business specializing in Novell networks. I told him he needed a website.
He responded that he thought that the Internet was just a fad.
Perhaps instead of mocking you should keep an open mind. Maybe you don’t understand what you are mocking.
Cryptocurrencies are just getting started. They will be difficult for the government to regulate, however, that is what will probably drive consolidation.
You’ll probably change your mind within the next year or so. The guy I did computer work for came back to me and admitted I was right when Novell told him they were moving all of their order taking online.
By the way, what gives any currency a value is the willingness of someone to accept that currency as payment for goods or services.
The reason “government-backed” currency is popular is because government MUST be paid. Remember the two certainties in life: death and taxes?
Right now, cryptocurrency values are driven primarily by speculation, but that’s not really much different than many investments. And cryptocurrencies are safer and more secure than many other investments.
As more people and entities become willing to accept payment via cryptocurrency, the security of ownership improves, and the ease of converting between cryptocurrencies and traditional currencies grows, the popularity of cryptocurrencies will increase.
OK, and what else should we censor here so no reads it?
I’m an investment advisor. I’m not allowed to come here and peddle stocks, funds, trade ideas. It’s illegal.
Additionally, FR wasn’t created to be a business platform for gold bugs and bitcoin peddlers. Be gone with all ye...
I don't see anyone on here peddling anything. Just passing on info. Allow us to make up our own minds.
That means at this point Bitcoin's only "value" is as a speculative instrument. Its volatility makes it effectively useless as a medium of exchange because it has no stable price structure. It's the "greater fool" theory writ large and it cannot end well. The announcement that CBOE is going to start trading bitcoin futures is only going to pour gasoline on the fire.
Than you should buy gold or silver.
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