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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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To: E. Pluribus Unum

“Cryptocurrencies are a medium of exchange independent of government”

except for their control and monitoring of the Internet ...


21 posted on 02/07/2018 8:00:52 AM PST by catnipman ( Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)
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To: jonose

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

at some level, not a lot. “investing” in either is a confidence game. the big difference in the two, however, is the same difference between established religions and cults: one is based on an established paradigm accepted by large numbers of people, whereas the other is simply a pretender. The masses have confidence in the established one, but not the other. there IS a difference however between bitcoin and any industrial commodity and companies like Shell that pay a consistent, juicy dividend ... one has tangible value and the other does not ...


22 posted on 02/07/2018 8:07:10 AM PST by catnipman ( Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)
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To: freedomjusticeruleoflaw

“Using crypto for everyday purchases only has minor to nil chance of loss”

except the transaction costs have risen to $30-$50 per transaction, which makes it impractical to buy a coke from a vending machine, not to mention the instability of the coin “value” itself varying by 30% in a couple of hour like it did today. Tthus cryptocoins do not possess critical attributes to function as a currency.


23 posted on 02/07/2018 8:11:07 AM PST by catnipman ( Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)
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To: zzwhale

“there are a limited number of BITCOIN”

there is a limited supply of lots of things, for example, there are only about 250,000 legally registered and freely transferable machine guns.

However, just because something has limited supply doesn’t mean it’s suitable as a currency or even as a liquid store of wealth. There are number of other attributes necessary for something to fully function as money.


24 posted on 02/07/2018 8:14:01 AM PST by catnipman ( Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)
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To: grania
Bitcoin and block chains had prices that spun out of control. Do you seriously think world govs were going to let that continue?

What exactly do "govs" have to do with it?

And blockchain is not going away. It's just a distributed, transparent accounting system that could make government totally transparent and accountable, so you're right, "govs" won't want to allow that.

25 posted on 02/07/2018 8:22:52 AM PST by E. Pluribus Unum (<img src="http://i.imgur.com/WukZwJP.gif" width=400>)
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To: catnipman

You have no idea what you’re talking about. Do more research.


26 posted on 02/07/2018 8:37:01 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: freedomjusticeruleoflaw

“You have no idea what you’re talking about”

30% bitcoin price change today:

https://www.coindesk.com/bitcoin-up-2k-from-start-of-trading-day/

bitcoin transaction costs:

https://arstechnica.com/tech-policy/2017/12/bitcoin-fees-rising-high/


27 posted on 02/07/2018 12:08:52 PM PST by catnipman ( Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)
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To: catnipman

The fee accrues to the retailer only when the retailer decides to convert his bitcoins to cash. Something that will happen less and less in the future. The retailer always has the option of just spending his bitcoins business to business, or saving them, or spending them at another retail establishment.


28 posted on 02/07/2018 12:47:02 PM PST by freedomjusticeruleoflaw (Western Civilization- whisper the words, and it will disappear. So let us talk now about rebirth)
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To: freedomjusticeruleoflaw

“The fee accrues to the retailer only when the retailer decides to convert his bitcoins to cash.”

Uh,yeah, i’m positive mom & pop stores and even the big boys like Home Depot and Safeway would just LOVE to hold on to their bitcoins while the prices are gyrating 30% on a daily basis ...


29 posted on 02/07/2018 3:07:55 PM PST by catnipman ( Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)
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To: catnipman

Up until just recently they were ecstatic. Bitcoin is going to replace much of hard currency in the future. Not accepting it now when it is probably only 1% of your business anyway is very shortsighted. Better to be on the cutting edge in retail. We disagree.


30 posted on 02/07/2018 7:13:20 PM PST by freedomjusticeruleoflaw (Western Civilization- whisper the words, and it will disappear. So let us talk now about rebirth)
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To: catnipman

Yes I can see companies like Shell that has real assets or
Have long history of dividends.
But many like amazon have no profits and no barrier to competitors


31 posted on 02/08/2018 2:40:24 PM PST by jonose
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To: jonose

“But many like amazon have no profits and no barrier to competitors”

Uh, the barrier to competing with amazon is a mere 131 billion dollars worth of warehouses, distribution systems, infrastructure. servers, and software. That’s why there are no effective competitors to amazon ... just a few outfits picking up crumbs in niche retail areas.


32 posted on 02/08/2018 7:04:27 PM PST by catnipman ( Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)
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