A satire painting of the tulip madness that saw the the price for tulips skyrocket then plunge. Then again a currency that circumvents the greedy hand of Governments is itself a revolt against madness.
Ping
I have repeatedly warned that that the crackdowns like the ones discussed are coming and within 2 years bitcoins will be worth only a small fraction of what thet are today. As the great Rush used to say: DO NOT DOUBT ME ON THIS.
This is why Cramer and everyone is trying to push GameStop to use Crypto. It will hurt them.
bmp
Pin.
Bubble.
Pop.
Bitcoin is Beanie Babies......
A satire painting of the tulip madness that saw the the price for tulips skyrocket then plunge. Then again a currency that circumvents the greedy hand of Governments is itself a revolt against madness.
The linked article was written on Friday.
Bitcoin is actually up 9% this morning, around $53,700.
Full disclosure...
I think there is a 50-50 chance that Bitcoin will ultimately go to $0.00.
In the meantime, this is one of the best car chase scenes in financial history!
Buy on the dip!
Did you read the line about "...govts around the world looking to see how to regulate bitcoin.."?
Its not like the gold they forced US citizens to surrender - because you can't touch it.
You can cut up all the internet cabling in the US and elsewhere but Starlink is up and running so you cant cancel the internet.
But The Biden Inflation wave is coming and all your bank deposits are going to shrink and your purchasing power plummets.
It is because bitcoin is IMMUNE from the manipulations of governments and banks it is an investment option that deserves consideration.
PING!
This is what they call market manipulation. When the price is too high and they want to drive prices down.
If they could ban Bitcoin, then it would have been done a long time ago.
The only way to shutdown Bitcoin is to shutdown the Internet. In other words its not happening.
Add one more article to the hundreds of others:
https://99bitcoins.com/bitcoin-obituaries/
The “hits” keep on coming! ;-)
Most bubbles end up with the stupid and the greedy weeping.
Everybody assumes that Biden will get his capital gains tax increase. If he has to go through Congress — and I assume that he does — then this is pretty much dead-on-arrival. I don’t see it happening. So why the overreaction?
Like gold, Bitcoin is a commodity, not a currency. That is their first mistake, and it has property rights associated with it that it’s confiscation or ban would challenge on constitutional grounds.
And while that 40% tax is high, Bitcoin will still be a better investment than everything else that has that same 40% capital Gaines tax. And it is unlikely, I doubt it will pass into law. Starting at 40% I believe is just a negotiation tactic.
Higher? Perhaps but 40% would be a disaster. First to crash would be the housing market. And investment money would be leaving offshore faster than the mainstream media covers the puppet president’s incompetent senility !