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Get Ready for Most Cryptocurrencies to Hit Zero, Goldman Says [Bloomberg Link Only]
Bloomberg [Link in Body of Thread] ^ | February 6, 2018 | Kana Nishizawa

Posted on 02/07/2018 5:38:19 AM PST by C19fan

Click here to go to Bloomberg.


TOPICS: Business/Economy; Computers/Internet
KEYWORDS: bitcoin; btc; crypto; cryptocurrency; fud
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1 posted on 02/07/2018 5:38:19 AM PST by C19fan
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To: C19fan

I’m so glad I invested thousands in cryptocurrencies. Gonna make me a millionaire.


2 posted on 02/07/2018 5:48:27 AM PST by upchuck (Keep a sharp lookout. The best is yet to come.)
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To: C19fan

“hit zero”! This is an irresponsible prediction.

I doubt it will hit zero. It is used for payments, much like paypal. That alone will keep it at least on a par with the dollar.

But it’s not an alternate “currency.” It is not a way to avoid the scrutiny of the irs. As an investment, it is wildly speculative.


3 posted on 02/07/2018 5:49:28 AM PST by I want the USA back (Cynicism may just keep you from going insane in a world that has chosen its own demise.)
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To: I want the USA back

One site lists 11 different cryptocurrencies with market cap above $ 5 bn. One or two might survive as mediums of exchange but most will go poof.


4 posted on 02/07/2018 5:53:13 AM PST by C19fan
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To: I want the USA back

Since, unlike tulip bulbs, it doesn’t actually exist, it really can hit zero. Heck, you can’t even sell them as collectibles. You can do that with Confederate money.


5 posted on 02/07/2018 5:57:28 AM PST by robroys woman (So you're not confused, I'm male.)
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To: robroys woman

You are being mean to coins! Shame on you....


6 posted on 02/07/2018 6:03:37 AM PST by Professional
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To: robroys woman

You can even get Reichmarks on eBay!

Hitler doesn’t need’em anymore.


7 posted on 02/07/2018 6:06:43 AM PST by moovova
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To: I want the USA back
Were it not for TOR (The Onion Router) and a few other lesser known dark router sites, Bitcoin would not even exist.

Several agencies, here and in Europe, have cracked the dark web and can monitor the movement of Bitcoin.

Unless and until it can be escrowed or otherwise trustingly utilized on a large basis, it will not survive.

A few legitimate trade reps have dabbled in it, but their respective boards have pretty much nixed a serious entry into a Bitcoin exchange.

There is a reason it has washed, along with some others, in the past few weeks.

Electronic age or not, few people are willing to put much personal financial risk into a nebulous "air" dollar.

Totally different from Paypal type accounts.

I move money all the time "through the air", but a basis for it exists in a physical sense.

There is no "physical" Bitcoin and the existence of it on a piece of fused silica in a server somewhere does not inspire confidence.

Money has been made with Bitcoin, but much has been lost and will never be recovered.

Those that would invest heavily in it are the same type that invested in Mr. Ponzi's offerings.

When cryptocurrency goes tits up, will we then call it an "Ulbricht Scam"?

8 posted on 02/07/2018 6:11:55 AM PST by OldSmaj (The only thing washed on a filthy liberal is their damned brains.)
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To: C19fan

Tulips are a flower, not an investment vehicle.

Cryptocurrencies are a medium of exchange independent of government, not an investment vehicle.


9 posted on 02/07/2018 6:16:17 AM PST by E. Pluribus Unum (<img src="http://i.imgur.com/WukZwJP.gif" width=400>)
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To: C19fan

What is the difference between VALUE of bitcoin and
Share of company like amazon?


10 posted on 02/07/2018 6:17:05 AM PST by jonose
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To: E. Pluribus Unum
Crptocurrencies are a medium of exchange independent of gov, not a government vehicle

Which makes them a real good way to have dealings with rogue governments and outside the rule of law. Besides which they create a situation where the taxman doesn't get his cut. I'm surprised the banks and the govs they own didn't put an end to this earlier.

11 posted on 02/07/2018 6:27:34 AM PST by grania (Deplorable and Proud of It!)
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To: C19fan

People might not be smart enough to ever understand cryptocurrencey. Investing in crypto and using crypto are two totally separate things. Using crypto for everyday purchases only has minor to nil chance of loss. Buying to invest is similar to investing in any third-world currency. You could make a mint, or lose your shirt.


12 posted on 02/07/2018 6:45:11 AM PST by freedomjusticeruleoflaw (Western Civilization- whisper the words, and it will disappear. So let us talk now about rebirth)
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To: grania

Put an end to it... How? Jail people who have software on their phone? Want to live in that world?


13 posted on 02/07/2018 6:47:18 AM PST by freedomjusticeruleoflaw (Western Civilization- whisper the words, and it will disappear. So let us talk now about rebirth)
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To: C19fan

why?
there are a limited number of BITCOIN...
there is an UNLIMITED SUPPLY OF DOLLARS AND THEY ARE JUST PAPER WITH PRINT ON THEM.... LIMITLESS

thus some say BOTCOIN ( not to include other cryptos) is going to $50,000
why - because of the limited supply and by passing the banking system
BOTCOIN = FREEDOM

Soon if the dollar is no longer coupled to oil (PETRODOLLAR) it will be cheaper to wipe your ass with a dollar than toilet paper...


14 posted on 02/07/2018 6:57:07 AM PST by zzwhale
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To: C19fan

why?
there are a limited number of BITCOIN...
there is an UNLIMITED SUPPLY OF DOLLARS AND THEY ARE JUST PAPER WITH PRINT ON THEM.... LIMITLESS

thus some say BOTCOIN ( not to include other cryptos) is going to $50,000
why - because of the limited supply and by passing the banking system
BOTCOIN = FREEDOM

Soon if the dollar is no longer coupled to oil (PETRODOLLAR) it will be cheaper to wipe your ass with a dollar than toilet paper...


15 posted on 02/07/2018 6:57:29 AM PST by zzwhale
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To: grania
Because US dollars are never used "to have dealings with rogue governments and outside the rule of law?"

Do you have any idea how corrupt the misnamed "Federal Reserve" is, not to mention the international banking cabal?

16 posted on 02/07/2018 6:59:26 AM PST by E. Pluribus Unum (<img src="http://i.imgur.com/WukZwJP.gif" width=400>)
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To: E. Pluribus Unum

I get it totally with the Federal Reserve. I also get it that the gov gets to control it and tax transactions. Bitcoin and block chains had prices that spun out of control. Do you seriously think world govs were going to let that continue?


17 posted on 02/07/2018 7:05:46 AM PST by grania (Deplorable and Proud of It!)
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To: C19fan

Like the crash of ‘29, can we expect yuppie bitcoin investors to come raining down from tall buildings?


18 posted on 02/07/2018 7:45:26 AM PST by JimRed ( TERM LIMITS, NOW! Build the Wall Faster! TRUTH is the new HATE SPEECH.)
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To: JimRed

Well, virtually rain down from virtual buildings.


19 posted on 02/07/2018 7:48:16 AM PST by Sirius Lee (In God We Trust, In Trump We MAGA)
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To: robroys woman

i believe “lack of intrinsic value” is the operative phrase ...


20 posted on 02/07/2018 7:59:09 AM PST by catnipman ( Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)
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