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To: BenLurkin

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.


10 posted on 11/11/2017 7:32:30 AM PST by Migraine ((A smartass who is right can be downright funny. A smartass who is wrong is just a smartass.))
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To: Migraine

“If bitcoin is used strictly as a TOOL, e.g., to get funds from account A into .... Just don’t invest as if it’s a “buy=and-hold” asset.”

or alternatively as a vehicle for raw speculation. nonetheless, your first point is exactly how retailers who “accept” bitcoin use it: none of them actually hold it, but immediately convert it to “real” money. the point is though, that bitcoin does NOT function as money, but merely is occasionally used as an electronic transfer unit.


24 posted on 11/11/2017 9:32:23 AM PST by catnipman ( Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)
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