Posted on 01/03/2021 3:48:21 PM PST by Presbyterian Reporter
In relatively heavy trading on Saturday and today, Bitcoin prices soared higher.
Friday closing price = 29,432
Saturday closing price = 32,615
Sunday current price = 33,411
Bitcoin reached a high of 34,800 today.
Bitcoin is used electricity. Historically manipulated by North Korea and other bad actors.
Good luck with it. Might as well bet on black or red at the roulette wheel.
Absolutely. It’s income and you’re required to report it for taxation. The major trading platforms automatically report on accounts in excess of the reporting threshold.
Failure to do so would constitute income tax evasion.
Very true, to a degree. What's the old adage about bad money driving out good? Let's remember this is still 'new technology' and a work in progress. It's futuristic stuff and depends upon where humanity is headed, if you follow my drift...
I threw a tiny amount into a bunch of different cryptocurrencies a few years ago for kicks. Nothing much; a few hundred dollars. If it all collapsed tomorrow, I wouldn’t miss it, but if it blows up and becomes something huge, it’d be nice to take a piece of that.
Yep. I sold all of my LTC, and have been looking to trade for more, for years now. LTC is one of my favorite coins. It’s easy and fast to move and you can host your own blockchain wallet without much wasted HD space.
Check out Paypal. I bought $20 worth of ETH about a month ago, when they started allowing you to do so, just to support their effort. It's now worth about $35! :) You can only buy or sell what you have bought. No trading or transferring, yet.
Matthew 22:15 Then the Pharisees went and counseled together how they might trap Him in what He said.
Matthew 22:16 And they sent their disciples to Him, along with the Herodians, saying, "Teacher, we know that You are truthful and teach the way of God in truth, and defer to no one; for You are not partial to any.
Matthew 22:17 "Tell us therefore, what do You think? Is it lawful to give a poll-tax to Caesar, or not?"
MAT 22:18 But Jesus perceived their malice, and said, "Why are you testing Me, you hypocrites?
Matthew 22:19 "Show Me the coin used for the poll-tax."And they brought Him a denarius.
Matthew 22:20 And He said to them, "Whose likeness and inscription is this?"
Matthew 22:21 They said to Him, "Caesar's."Then He said to them, "Then render to Caesar the things that are Caesar's; and to God the things that are God's."
Matthew 22:22 And hearing this, they marveled, and leaving Him, they went away.
And then this:
Romans 13:1 Let every person be in subjection to the governing authorities. For there is no authority except from God, and those which exist are established by God.
Romans 13:2 Therefore he who resists authority has opposed the ordinance of God; and they who have opposed will receive condemnation upon themselves.
Romans 13:3 For rulers are not a cause of fear for good behavior, but for evil. Do you want to have no fear of authority? Do what is good, and you will have praise from the same;
Romans 13:4 for it is a minister of God to you for good. But if you do what is evil, be afraid; for it does not bear the sword for nothing; for it is a minister of God, an avenger who brings wrath upon the one who practices evil.
Romans 13:5 Wherefore it is necessary to be in subjection, not only because of wrath, but also for conscience' sake.
Romans 13:6 For because of this you also pay taxes, for rulers are servants of God, devoting themselves to this very thing.
Romans 13:7 Render to all what is due them: tax to whom tax is due; custom to whom custom; fear to whom fear; honor to whom honor.
God is in control, not men. He sets governments in place, and, He takes them way (Daniel Chapter 5). However, He does say we are rsponsible to be under the subjection of governments. He also lets us know WHO owns the currencies. Governments do. These governments are NOT going to allow Bitcoin to supercede their currencies. They are just not going to allow it. The GOVERNMENTS will control the value of their currencies, not some genius internet/programmer wizkid. The day the governments step in and get control of Bitcoin which has nothing at all backing it, not even government authority, you'll wish you had never invested in it and everyone who does will be financially ruined.
I already know this. That is why I posted what I posted. Governments are NOT going to allow that. Mark my words, you will see.
Also, all of you are forgetting something. When some entity (China? North Korea? The U.S. Government? Soros?) hacks the Bitcoin world, you are in for a world of sorrow.
Saw in an article...
Insurer MassMutual scoops up $100 million worth of Bitcoin, and billionaire Mike Novogratz noted it as the most important news in crypto this year.[ii]
The Guggenheim Macro Opportunities Fund, with $5.3B AUM, said in an SEC filing that they may seek investment exposure to Bitcoin through investing up to 10% of its net asset value in Grayscale Bitcoin Trust.[iii]
BlackRock is the world’s largest asset manager with $7.4 trillion in AUM. Their CIO, Rick Rieder thinks crypto currencies are here to stay and could attract money away from gold.[iv]
A team of analysts at J.P. Morgan’s Global Markets Strategy group are touting Bitcoin’s emergence as an alternative to gold among millennials, suggesting a “doubling or tripling” in the price of the cryptocurrency if current trends continue.[v]
Wells Fargo, with $1.8 trillion in AUM, had this to say in their Dec 7th Investment Strategy: “Over the past 12 years, they [cryptocurrencies] have risen from literally nothing to $560 billion in market capitalization. Fads don’t typically last 12 years. There are good reasons for this — reasons that every investor should hear. As we roll into 2021, we’ll be discussing the digital asset space more — its upside and downside.”[vi]
A Citibank report “Bitcoin: 21st Century Gold” was leaked where managing director Thomas Fitzpatrick speculates the next bull run on bitcoin could take it to $318,000. He also suggests gold could go to $8,000. He is basing those numbers on previous rallies from the lows to the highs. Not exactly sound reasoning, but what matters is a main stream bank with about $1.7 trillion in AUM is talking to their clients about bitcoin.[vii]
Fidelity Investments, with $3.3 trillion in AUM, set up an SEC approved crypto currency custodian, Fidelity Digital Assets. They have a Bitcoin Investment Thesis series of reports: Bitcoin as an Aspirational Store of Value System[viii] and Bitcoin’s Role as an Alternative Investment[ix]
DBS Bank in Singapore, the largest bank in Southeast Asia by assets, is launching a full-service digital exchange - providing tokenization, trading, and custody for digital assets.[x]
if paypal allowed you to transfer Crypto in and out it would be a game changer, I have some bitcoin that I would love to transfer to to a paypal account.
that would mean I could buy anything online or at homedepot without hassle .,l
Almost everything is in 'cyberspace' now, my FRiend. Tho, I try to keep at least one toe on Terrafirma and recommend all do the same. :)
I believe Paypal intends to allow such in the future.
While that is true, new bitcoins are becoming more scare by the day, or so I have heard, which is why the price continues going up quite rapidly. Supply and demand. 8>)
This causes me to doubt severely the inerrant nature of Romans, when no distinction is made between good and bad governments (i.e. between governments which otherwise follow God's rules and those who don't).
add to that “There are only 21 million bitcoins that can be mined in total.
Once bitcoin miners have unlocked all the bitcoins, the planet’s supply will essentially be tapped out.
Currently, around 18.5 million bitcoin have been mined; this leaves less than three million that have yet to be introduced into circulation.
Once all Bitcoin has been mined the miners will still be incentivized to process transactions with fees.”
WINNER!
The level monetary STUPID in many of these posts is staggering.
For a “currency” to be usable it has to have A STABLE VALUE. BITCOIN IS A FAIL! FULL STOP! PERIOD!
Here’s a real-world example of transacting in Bitcoins. Take a new home buyer for example. You sign a contract with a builder to build a house for X number of Bitcoins, currently valued at $300,000. In 9 months from now when the house is completed and it’s time to settle the books, imagine that now the home costs $600,000, because Bitcoins have doubled in value. WHOOPS!
Or take an example of selling a home for $500,000. 2 months later at the closing you actually only get $250,000, because Bitcoin has fallen 50% in two months. WHOOPS!
Bitcoin is worthless for real world transaction.
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