Eventually the people will realize that they are literally buying nothing.
When someone can physically hand me a bitcoin and I can lock it in a safe deposit box I will give some thought to this. What happens if there is a major hack or attack on the web? What happens if the web is crashed? Thanks... but I will stick with gold for my alternative currency reserve.
Russia and China have their oligarchs who amass fortunes due to socialism, government power and crony-capitalism - Goldman Sachs are America’s oligarchs.
Every investment is a bubble ..... the key is knowing when to get in and when to get out .......6374$ per as of now per.
If bitcoin is used strictly as a TOOL, e.g., to get funds from account A into an offshore (ahem!) investment, so to speak, and then, provided things go well with the (ahem!) investment, retrieve the accrued proceeds back into your onshore — then bitcoin has served its purpose, in your case. As I see it, bitcoin is like Paypal — it helps with transactions. And funds pass through rather quickly to the desired end.
Just don’t invest as if it’s a “buy=and-hold” asset.
Bitcoin is worth 4x the amount of Gold????!!!!! LOL, these people holding this worthless POS digital currency are going to get burned...it will be epic.
Brick and mortar banks do not like internet currency. It is competition. At the same time internet currency may be in a big huge bubble. And Internet currency may be used for legal and illegal purposes. As I recall the big banks are washing money for the drug cartels. Criminals don’t want the competition. As high as bitcoin is right now, I would convert mine (if I had any) to cash. Never look a gift horse in the mouth. 600 percent in one year is always acceptable.
When the economy finally crashes..And it seems inevitable. .can you see someone trying to trade bitcoin for anything?
Bitcoin has soared more than 600 percent this year ... “’Maybe bitcoin is a kind of a bubble,’ Goldman Sachs CEO Blankfein says”
ya, think, Captain Obvious?
Still, sometimes the Greater Fool theory takes a while before reality sets in, and it does seem like in these modern times of our that there are quite a few Greater Fools.
Q: What’s the difference between a bitcoin and a tulip bulb?
A: A tulip bulb actually exists.
So says the “King of the Bubble Brigade”!! I’ll take a cryptocurrency bubble over a GS/Federal Reserve bubble anytime!