Discussion in 'Investment and Retirement Planning' started by mrivc211, May 31, 2017.
Anything can be regulated. Enforcement may be more difficult, but it can still be outlawed.
Make as much fun of it as you want, but if I'd bought some of this stuff a year ago I'd pretty damned stoked today.
If you'd bought some Pets.com in 1999 you'd have been pretty damn stoked in 2000...only to be flat broke in 2001.
Pigs get fat, hogs get slaughtered. I'm pretty happy doubling my money ... this would have been sold a long time ago if it were in my portfolio.
It's in a weird spot. I'm not expecting it to replace the US dollar as the world's currency like some bitcoin enthusiasts. But there's definitely a market for those that want to transfer money quickly to anywhere in the world for low fees. I think it's probably more of a threat to Western Union than the Federal Reserve, although it'll have to stabilize for a while before people can wrap their heads around actually using it.
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I just can't wrap my head around how you can have a universal currency that continues to flucate rapidly in value by large amounts. I guess I'm just stupid for not understanding but why would you ever part with the currency when it is appreciating in value so rapidly?
If bitcoin was pegged to a currency or a basket of currencies I could see it being adopted more, I mean wouldn't want a currency that can be used to buy anything anywhere at any time with a stable value?
Oh wait, we already have that. It's called the US dollar.
What's the point of establishing non-fiat currency if you peg it to fiat currency? You're still thinking of it in the mindset that it's an investment vehicle.
I'm not entirely sure if the value will ever be completely stable. It's not like the dollar, where a few bankers can meet and decide to fiddle with the money supply. BTC finite, which is very different from most fiat currencies around the world.*
*I'm not an economist, I just throw the gear and count static wicks
Bitcoin is a fiat currency as well it has no tangible source of value.
Just because something is of limited supply doesn't make it valuable. There must be demand for it as well.
There is credible evidence that N Korea is using it to avoid sanctions as well as narco traffickers using it to launder and transfer money.
I'm into Webvan
Thats where pilots are idiots Todd. We all think long term. Where as the smart ones get in, make a quick buck, get out. This stuff is all speculation and gambling. Ain't nothing long term about it.
Uh, no. The smart ones think long term. People who think short term get burned. Bad. It's just a matter of time.
Aaaaaaaaaaaaand the contrarian is alive and well folks.
The ultimate contrarian:
you've been a contrarian so long I bet you have a stupid come back for every argument you'll ever have. Thats a life long commitment of disagreeing. Congrats man. so much happiness
Well I would’ve wanted to be holding the bag from the start long term because I would have a metric crap ton of cash now.
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