Posted on 05/12/2021 5:56:01 PM PDT by Presbyterian Reporter
Bitcoin is down sharply in overnite trading. Current Price is $50036. Down $7771 or 13,4%. After the equity markets took a big hit today, this is another signal the markets are not happy.
Nope!
Most U.S. coin collectors know that the United States Mint continued to pump 1964-dated 90% silver dimes, quarters and half dollars into circulation through 1965 and into early 1966. The reasons for doing this were several, some of them quite reasonable at the time.
Source here
It takes a bit of searching to find this. It looks like it's being memory-holed.
As for Q, it started way WAY before 2017. And it's plans are in-play well after 12/8/20, and in progress right now.
FYI, JFK's gravesite:
Most crypto people I know are buying the dip. Heavy volume in BTC tonight.
That's a biggie...
Scarcity: well a non tangible thing can be made to be scarce. It is not in and of itself scarce.
Divisibility: I did say it has some little value as a means of exchange. All things aren’t easily divisible but many are. Bitcoin is.
Utility is perceived.
Transportability now that’s pretty bad. I personally know people who have lost Bitcoin due to lost passwords/funky exchanges. Dollars at least for now you make a transfer error or can’t remember a password their are remedies. Inheritance? Hah
Durability: they are non physical so actually are not durable at all. Or it doesn’t apply. Unless this is an economic term I don’t know.
Anti- counterfeit I guess is true - unless you consider that they themselves are counterfeit, again, having no intrinsic value.
Basically they have value because enough people have agreed they do, which could be said of paper money also. But paper money is backed by the US government which at least for now is still a going concern. Bitcoin is not backed by any traceable accountable anything and there are no remedies, you are completely in your own. Sadly in the US with dollars you are partly on your own for example if your cash dollars are stolen you may not get them back - or burned, or lost. Inflations wastes them some and they can be traced and illegally confiscated.
I see Bitcoin as no remedy and dollars as partial remedy.
“ Buy low! Sell high!”
Thats what I have read many times. Unfortunately my dyslexia keeps me from getting right it.
Cool. Time to buy some more.
I know you are way too smart to buy the Brooklyn Bridge, but I have this imaginary Brooklyn Bridge to sell you.
Cheapest real silver right now is $31.50. I suppose the companies minting the bars and rounds have to make a little money but there's still a big disconnect.
$6 at apmex. But that's still 2 gallons of gas until Biden does some more damage.
We have Dogecoin now, what’s next? Tulipcoin?
Your $31.50 will get noname brand 10 oz silver buffalo bars
Mining companies may be holding back, I dunno. They see the writing on the mining wall.
“Musk just said Tesla won’t accept bitcoin payments.”
He said because (lol) bitcoin is mined by using electricity from fossil fuels.
You talking BTC or phyiscal silver? If BTC:
One can still make some BTC money, if you are able to get out nimbly. Are there the equivalent of day traders for BTC?
Hearing there are BTC servers under the Three gorges Dam, plus a great deal of BTC mining in that area. Weather forecasts are for upwards of 5" of rain in the next few days. While playing with BTC, for exit purposes, might want to monitor flood levels.
Can I ask what the specs of your rig? How long it takes? Etc. I am looking to do this also, at least to start. Thanks.
ISO20022
Bye-bye, BTC.
It’s been nice hardly knowing ‘ya.
A 12% dip for BTC is a nothing burger...get worried at 48%. ;-) Some bad Elon/press news...”uses too much power”! Like Mastercard/Visa, Paypal and all the banks dealing in USD don’t use much power! OMG end of the world! ;-)
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