That's just wrong.
Posted on 01/31/2018 8:52:44 PM PST by cba123
A growing number of virtual currency investors are worried that the prices of Bitcoin and other digital tokens have been artificially propped up by a widely used exchange called Bitfinex, which has a checkered history of hacks and opaque business practices.
In December, Bitfinex was subpoenaed by the Commodity Futures Trading Commission, a United States regulatory agency. The news, first reported by Bloomberg on Tuesday and confirmed by a source familiar with the subpoena but not allowed to publicly discuss an ongoing investigation, led to a sell-off in most virtual currencies.
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Didn't know about Bitfinex until reading this article. Interesting details at the article link.
(Please see link for full article)
(Excerpt) Read more at nytimes.com ...
Doesn't say it is here.
But does seem to ask the question.
Not a problem. Just take your BitCoins and put them in a shoebox under your bed. They’ll be safe there.
Or melt them down and make jewelry.
I’m putting my Bitcoins with my chocolate doubloons. They’ll be safe unless the rats get to them.
“Or melt them down and make jewelry.”
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Can’t even do that - al you get is numbers. Might be good for sticky notes....
I’ve already guessed it will be virtually worthless very shortly. Since I first made that prediction, it lost 50% of its value.
“chocolate doubloons”
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Those were great! And you could get ‘em in little treasure chests. Still can buy ‘em, online at least
Bitcoin turning into 2-bitcoin?
I’m investing heavily in tulip bulbs !!
I hear they have a great future.
Can you say Soros? I knew you could.
Not a problem. Just take your BitCoins and put them in a shoebox under your bed. They’ll be safe there.
Or melt them down and make jewelry.
or send them to Mt Gox and watch them turn into fairy dust...
That's just wrong.
Find someone who’ll give you their gold and silver for your bitcoins.
The idea that Bitfinex propped up bitcoin to rally up to 19k is well, a load of crap. They may have attempted to manipulate the price of bitcoin but the effect would have been barely detectable. Even if every single Tether coin was created with no dollar backing (and no one is claiming that) and every single Tether coin was used in an attempt to prop up bitcoin the effect on the bitcoin price would have been minimal. The total market capitalization of Tether is barely over 1 percent of the market capitalization of Bitcoin even at the current price. So the math is obvious. Tether and Bitfinex are not valuable enough to effect the price of bitcoin to any significant degree.
I really find it funny to hear government regulator types and wall street money scammers warn us little people about the dangers of bitcoin. Meanwhile big wall street firms manipulate the price of stocks and run high speed trades in microseconds using algorithms run on super computers every day. Does that sound like a level playing field to you? Aren't you glad these types are looking out for you? lol
Damn Tooth fairy is gonna steal your Bitcoins.
Put a brick on that shoebox.
I put mine on the train tracks, smashed em flat, I’m afraid they’re worth Less now.
What was I thinking?
“Find someone who’ll give you their gold and silver for your bitcoins.”
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When I find ‘em I’ve got a bridge that I’ll sell ‘em at a bargain price, too!
“big wall street firms manipulate the price of stocks and run high speed trades”
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That may be, but it didn’t reduce the value of the dollar by 40 percent.
“I’ve already guessed it will be virtually worthless very shortly. Since I first made that prediction, it lost 50% of its value.”
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Don’t mean to rain on your prognostication skills, but predicting that something that’s not worth even Monopoly money doesn’t have much of a future isn’t exactly a fearless forecast.
:^)
However, since common sense is increasing hard to find these days, you’re batting 1000 there!
So, pretty much like all fiat currencies and pyramid schemes, sooner or later.
Bitcoin isn’t hardly on any govt’s threat radar. Maybe when your average 47 year old joe can walk into a Wendy’s or a Target & swipe something to pay instantly with bitcoin..... or when your average 34yo mom of three pops into a gas station on their way home & grab 4 gallons of gas paying instantly with a bitcoin card..... yeah THEN the govt will feel some kind of threat. As it stands 99% of the public who could own bitcoin or cryptocurrency neither does nor wants to.
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