Do You BitCoin?

[Pine Barrens Mafia]

Just now, Foxx said:

lol. 10 years in computer science is an eternity. there are going to be so many changes in 10 years you won't recognize any of it.

 

I assume you know what I'm talking about.

 

https://www.dwavesys.com/quantum-computing

 

The company at that link already has a 2000-qbit computer. That's a whole lot of processing power.

 

[plenzmd1]

4 minutes ago, row_33 said:

 

It's time to get out of the "insider" investment when the taxi drivers and homeless and other types are telling you about how great it is.

 

they said that at one point bout the "internet" as well. Like I said, there may be an play to sell the top short term, and if i can figure out how to buy some puts and use leverage incase it craters in the next 30 days I will, but go long in a much bigger way cause I think this is starting to go mainstream. 

[Pine Barrens Mafia]

1 minute ago, plenzmd1 said:

they said that at one point bout the "internet" as well. Like I said, there may be an play to sell the top short term, and if i can figure out how to buy some puts and use leverage incase it craters in the next 30 days I will, but go long in a much bigger way cause I think this is starting to go mainstream. 

And they would have been right...depending on which bit of the "internet" you were invested in (AOL, Yahoo, etc)

 

[Foxx]

9 minutes ago, joesixpack said:

 

I assume you know what I'm talking about.

 

https://www.dwavesys.com/quantum-computing

 

The company at that link already has a 2000-qbit computer. That's a whole lot of processing power.

 

yeah, i know all about the threat of quantum computing. i'll tell you who should be worried about it more than anyone and that's the NSA. all their files that are encrypted will become public knowledge. can you imagine GUS running around like a chicken with it's head cut off )not that they already don't) trying to put the genie back in the bottle? if you thought wikileaks was on top of it last year for the election cycle, you ain't seen nothing yet, lol.

 

as for DWave, i doubt they seriously have a working product. 

 

Forbes is a main stream publication so this may mean something to those here.

 

Why Quantum Computing's Threat To Bitcoin And Blockchain Is A Long Way Off

 

 

6 minutes ago, plenzmd1 said:

they said that at one point bout the "internet" as well. Like I said, there may be an play to sell the top short term, and if i can figure out how to buy some puts and use leverage incase it craters in the next 30 days I will, but go long in a much bigger way cause I think this is starting to go mainstream. 

CmE will be online before the end of the year or so they claim.

 

CME Group Announces Launch of Bitcoin Futures

Edited November 29, 2017 by Foxx

[Pine Barrens Mafia]

12 minutes ago, Foxx said:

yeah, i know all about the threat of quantum computing. i'll tell you who should be worried about it more than anyone and that's the NSA. all their files that are encrypted will become public knowledge. can you imagine GUS running around like a chicken with it's head cut off )not that they already don't) trying to put the genie back in the bottle? if you thought wikileaks was on top of it last year for the election cycle, you ain't seen nothing yet, lol.

 

as for DWave, i doubt they seriously have a working product. 

 

Forbes is a main stream publication so this may mean something to those here.

 

Why Quantum Computing's Threat To Bitcoin And Blockchain Is A Long Way Off

CmE will be online before the end of the year or so they claim.

 

CME Group Announces Launch of Bitcoin Futures

 

If there's one thing I know about tech, it's that it's probably more advanced than you, I, or Forbes know it is.

I also know that from what I've read, google, the NSA and a couple other large organizations have either bought d-wave machines or have invested heavily in shared time.

 

Edited November 29, 2017 by joesixpack

[Jauronimo]

2 minutes ago, joesixpack said:

Here's how I know Bitcoin isn't for me:

 

One of my absolutely computer-illiterate customers called me today and asked me if I was into bitcoin. I told her no and told her why not (mainly the future of quantum computation rendering it valueless). She told me I need to put 10k into it.

 

I just laughed and hung up the phone.

 

If THAT woman is involved, and she can't even manage her email client or CRM software, then it's clearly a hype machine.

 

Very true.  There is a lot of dumb money in the game for sure.  Substantial price movement is coming from institutional money entering the space as well. There are many people buying in who don't know what they have purchased.  Especially people scooping up ETH (myself included when I first bought in) who don't even know what it is.

 

1 minute ago, plenzmd1 said:

I have no clue what quantam computation is, and I do believe there may an opportunity short term to sell the top, but in the research, I have done in the last few days I cannot see crypto going away. Every major exchange will be listing bitcoin futures in the very near future is a very good sign it aint going away. 

 

Trying to figure out the proper valuation and such is the tricky part

That was what ultimately convinced me to get in.  The blockchain platforms have broader significance than just a unit of exchange.  BTC was the first and most recognizable but its also technologically limited in the near term and so is its function. 

 

The Ethereum platform has major potential for running decentralized applications and is prime for adoption in setting up derivatives which gives Ether, the fuel which powers the engine, value beyond just a unit of exchange or store of value.  ETH looks like a long term hold to me and still benefits from all the speculation in the crypto space.   

[Pine Barrens Mafia]

2 minutes ago, Jauronimo said:

Very true.  There is a lot of dumb money in the game for sure.  Substantial price movement is coming from institutional money entering the space as well. There are many people buying in who don't know what they have purchased.  Especially people scooping up ETH (myself included when I first bought in) who don't even know what it is.

 

 

 

Playing poker introduced me to a simple life truth that i've followed in investing:

 

If you don't know who the sucker is at the table, it's you.

 

Edited November 29, 2017 by joesixpack

[Foxx]

8 minutes ago, joesixpack said:

 

If there's one thing I know about tech, it's that it's probably more advanced than you, I, or Forbes knows it is.

I also know that from what I've read, google, the NSA and a couple other large organizations have either bought d-wave machines or have invested heavily in shared time.

 

no doubt. i only posted the forbes article because as i said, it is main stream.

 

i'm just telling ya, quantum computing is not the threat you think it is. there is not even 1% of the population involved with it. don't you think that someone with a quantum computer might go after where the money currently is before going after the 1%er's? all currency today is digital, Bitcoin is'nt even a blip on the screen at this moment in time.

 

would the Fed be thinking about it's own crypto currency if it was worried about quantum computing?

 

again, there are other things more important to be worried about. Btc is pretty far down that list.

Edited November 29, 2017 by Foxx

[Pine Barrens Mafia]

1 minute ago, Foxx said:

no doubt. i only posted the forbes article because as i said, it is main stream.

 

i'm just telling ya, quantum computing is not the threat you think it is. there is not even 1% of the population involved with it. don't you think that someone with a quantum computer might go after where the money currently is before going after the 1%er's? all currency today is digital, Bitcoin is'nt even a blip on the screen at this moment in time.

 

would the Fed be thinking about it's own crypto currency if it was worried about quantum computing?

 

again, there are other things more important to be worried about. Btc is pretty far down that list.

If i was a bitcoin/blockchain-head (I'm not) I'd be worried about a GOVERNMENT (like say PRC or the USA) that isn't too keen on cryptocurrency using QC to break the blockchain in order to maintain their iron grip on currency before it gets out of hand.

 

But that's just me.

 

 

[Foxx]

16 minutes ago, Jauronimo said:

Very true.  There is a lot of dumb money in the game for sure.  Substantial price movement is coming from institutional money entering the space as well. There are many people buying in who don't know what they have purchased.  Especially people scooping up ETH (myself included when I first bought in) who don't even know what it is.

 

That was what ultimately convinced me to get in.  The blockchain platforms have broader significance than just a unit of exchange.  BTC was the first and most recognizable but its also technologically limited in the near term and so is its function. 

 

The Ethereum platform has major potential for running decentralized applications and is prime for adoption in setting up derivatives which gives Ether, the fuel which powers the engine, value beyond just a unit of exchange or store of value.  ETH looks like a long term hold to me and still benefits from all the speculation in the crypto space.   

Ethereum introduced the Smart Contract. a public ledger that can be accessed by anyone. you can verify what a contract stipulates as well as any transaction within it. it really took the blockchain in a new and exciting direction. I have gotten into this aspect in the 'Cryptos' thread i started. the ICO is this centuries IPO. many new and exciting companies coming online and the investment potential is unbelievable. 

Edited November 29, 2017 by Foxx

[row_33]

I've worked on the attempted resolution for over 50 cases of alleged fraud (for the prosecution and defense and private mandate) and this looks like something just ripe for a massive fraud down the line, thus I have never invested in it.

 

 

[Foxx]

10 minutes ago, joesixpack said:

If i was a bitcoin/blockchain-head (I'm not) I'd be worried about a GOVERNMENT (like say PRC or the USA) that isn't too keen on cryptocurrency using QC to break the blockchain in order to maintain their iron grip on currency before it gets out of hand.

 

But that's just me.

 

 

it's already out of hand. when it reaches 3% it will be unstoppable. look at the governments around the world that are embracing Btc and the cryptos in general. sure, many are saying it is too insignificant to be a worry at this point, but it is what the rest of the world is doing that is going to put it in the realm of untouchable. Japan is probably leading the way.

 

tha being said, i fully expect the Us and Europe to be the last bastions of the fiat world. and with, in their eyes i'm sure, good reason. when you are the worlds reserve currency, why would you want to change anything. except that they will most likely be left on the outside looking in when the rest of the world rejects the USD and it's hegmony. at that point, they will have no choice.

 

 

4 minutes ago, row_33 said:

I've worked on the attempted resolution for over 50 cases of alleged fraud (for the prosecution and defense and private mandate) and this looks like something just ripe for a massive fraud down the line, thus I have never invested in it.

 

 

you do know that the ledger is public, right?

Edited November 29, 2017 by Foxx

[row_33]

13 minutes ago, Foxx said:

it's already out of hand. when it reaches 3% it will be unstoppable. look at the governments around the world that are embracing Btc and the cryptos in general. sure, many are saying it is too insignificant to be a worry at this point, but it is what the rest of the world is doing that is going to put it in the realm of untouchable. Japan is probably leading the way.

 

tha being said, i fully expect the Us and Europe to be the last bastions of the fiat world. and with, in their eyes i'm sure, good reason. when you are the worlds reserve currency, why would you want to change anything. except that they will most likely be left on the outside looking in when the rest of the world rejects the USD and it's hegmony. at that point, they will have no choice.

 

 

you do know that the ledger is public, right?

 

Oh, so something with public information is 100% bulletproof against fraud?

 

Are you SURE that's your argument to try and one-up me?

 

Think real hard....

 

[Foxx]

1 minute ago, row_33 said:

 

Oh, so something with public information is 100% bulletproof against fraud?

 

Are you SURE that's your argument to try and one-up me?

 

Think real hard....

 

nope. fraud happens in the light of day, everyday. only fools make that mistake. 

[plenzmd1]

10 minutes ago, Foxx said:

Ethereum introduced the Smart Contract. a public ledger that can be accessed by anyone. you can verify what a contract stipulates as well as any transaction within it. it really took the blockchain in a new and exciting direction. I have gotten into this aspect in the 'Cryptos' threads i started. the ICO is this centuries IPO. many new and exciting companies coming online and the investment potential is unbelievable. 

 

yes, the ICO's seem interesting. 

 

And Joe, i brought up the internet as I think its relevant. I was an investor in the mid to late 90's in "pick and shovel" companies, never bought into that "eyeball" valuation crap.While I made some good money pre-crash, also flushed a ton down the drain as started to buy into some of the crazy valuations myself.

But in the 17 years since then, made a ton of money buying some great "internet" stocks.

 

Where I am starting to get with crypto, I am convinced it is not going away, but struggling to grasp how to correctly value it. Generally agree that when the public is on one side, go the other way.Look at everything I post about betting football. But this is different, this has the potential to fundamentally change so many aspects of everyone's lives, think it is putting your head in the sand to at least not dig deep and really make an informed decision.

 

Guy who i respect the hell out of and runs big money here in Richmond is all over this stuff and started talking to me about it a couple weeks ago. Granted we were drinking Jack and Cokes at the Richmond game, but this guy is running a big-time hedge fund and it is in his potfolio, and least was two weeks ago

 

 

 

 

[row_33]

Every legit speaker on the topic states freely that this is so ripe for Criminal Enterprise to get its hooks in and sink it like the Titanic.

 

You can't gather $20 together without fraudsters getting in and finding the control risks and making off with funds in their own wonderfully brilliant ways.

 

Those trying to get you hooked in will pretend this doesn't exist....

 

 

 

 

But nothing ventured, nothing gained.

[Foxx]

6 minutes ago, row_33 said:

Every legit speaker on the topic states freely that this is so ripe for Criminal Enterprise to get its hooks in and sink it like the Titanic.

 

You can't gather $20 together without fraudsters getting in and finding the control risks and making off with funds in their own wonderfully brilliant ways.

 

Those trying to get you hooked in will pretend this doesn't exist....

 

 

 

 

define legit. anyone who is against it? the ones who decry it are the ones afraid of it.

 

again, there is less than 1% of the population in it at this point. . this is not to say that nefarious forces are not at work here, they are. the amount of scams and the sophistication of those scams is increasing everyday. this is why education is a must.

 

when Jessie James was robbing trains, do you think they said ut oh, we better stop printing money?

Edited November 29, 2017 by Foxx

[plenzmd1]

21 minutes ago, Foxx said:

define legit. anyone who is against it? the ones who decry it are the ones afraid of it.

 

 

 

I would not go that far yet. I am sure there are legit concerns about security, stability, etc and people talking about it and raising concerns is actually comforting to me. I am a sales guy, and you are nowhere near a sale when no questions are being asked especially hard ones, and no skepticism is being raised. Might as well close it as lost in SFDC when everything looks peachy keen, cause no one is taking your stuff seriously.

[Pine Barrens Mafia]

2 hours ago, plenzmd1 said:

I would not go that far yet. I am sure there are legit concerns about security, stability, etc and people talking about it and raising concerns is actually comforting to me. I am a sales guy, and you are nowhere near a sale when no questions are being asked especially hard ones, and no skepticism is being raised. Might as well close it as lost in SFDC when everything looks peachy keen, cause no one is taking your stuff seriously.

 

I start getting concerned about ideas when people present them like religion.

 

 

[plenzmd1]

9 hours ago, joesixpack said:

 

I start getting concerned about ideas when people present them like religion.

 

 

I like the way you put that , I am going to use that again some day. But having worked For companies based in The Valley for so long, every freaking product and every freaking new tech is presented that way, so maybe I am immune to it LOL. 

 

And I absolutely am just really digging into this stuff, still have a lot to learn. And just cause the price is rising , doesn’t mean the valuation is correct. Just means there is a frenzy right now. Trick is this.. still the beginning of the frenzy, or the end?

 

Good think is, people are now talking more nd more about Cyrpto. just in our little thread, you and Row 33 have had me looking at aspects of this and potential issues I have not seen elsewhere. That good, helps me make a more informed decision. May still get my skull crushed in, but at least it will be an informed skull crushing!

[BeginnersMind]

On 11/28/2017 at 4:11 PM, Foxx said:

might i suggest that you do not know as much as you think you do. remember, a lot is a perspective issue.

 

Bitcoin-Stepfords are a different flavor of a goldbug. There's no rationality in them every time gold is on the rise. 

 

This bubble hasn't popped yet so how it goes when it happens is anyone's guess. Unlike other asset classes, its got some ways of crashing that could be unique and spectacular.  

 

I'm neither for nor against cryptocurrencies, and find them actually intriguing as I have since other variations of them started in the early 2000s, but it's advisable to keep a rational perspective instead of a blind exuberance. 

Edited November 30, 2017 by BeginnersMind

[Foxx]

8 hours ago, BeginnersMind said:

 

Bitcoin-Stepfords are a different flavor of a goldbug. There's no rationality in them every time gold is on the rise. 

 

This bubble hasn't popped yet so how it goes when it happens is anyone's guess. Unlike other asset classes, its got some ways of crashing that could be unique and spectacular.  

 

I'm neither for nor against cryptocurrencies, and find them actually intriguing as I have since other variations of them started in the early 2000s, but it's advisable to keep a rational perspective instead of a blind exuberance. 

cryptos are the future, the blockchain made sure of that.

 

the blockchain is poised to invade every area of your life and it is really the true genius.

[BeginnersMind]

4 hours ago, Foxx said:

cryptos are the future, the blockchain made sure of that.

 

the blockchain is poised to invade every area of your life and it is really the true genius.

 

The blockchain is a great idea. But the current “currencies” are vulnerable to spectacular and new ways of failing.

 

It’s interesting to watch. 

[PolishDave]

On 11/29/2017 at 5:23 PM, row_33 said:

Every legit speaker on the topic states freely that this is so ripe for Criminal Enterprise to get its hooks in and sink it like the Titanic.

 

You can't gather $20 together without fraudsters getting in and finding the control risks and making off with funds in their own wonderfully brilliant ways.

 

Those trying to get you hooked in will pretend this doesn't exist....

 

Dude,   there is fraud and crime all over the place.   It is everywhere.   White collar crimes, violent crimes, thuggery, buggery, vandalism, identity theft, banking fraud, securities fraud, insurance fraud, government entitlement fraud, fraud fraud...

 

Of course there is going to be fraud in cryptos.   There is money involved.   Where there is money involved, there will be crime, somehow, somewhere.

 

Predicting that criminal enterprise is going to become involved with cryptos is like predicting that it might be cloudy sometime within the next month here in WNY.   It is a no brainer.

 

There are hackers all over the world right now trying to get into banking computer systems of banks that you probably deal with every week.   Does that stop you from going to the bank or using their services?

 

Most of these cryptos are equivalent to international banks that only handle checking accounts and mostly don't offer any other services.    They operate on that bank's personal internationally accepted currency rather than the currency of whatever country you are in.

 

There will be some rotten bankers that run crooked banks that end up stealing people's deposits.  It will happen.   People will still use these banks anyway.   They will just do their best to avoid the crooked ones.    So far, the vast majority haven't proven to be crooked at all. 

 

I suspect this market will regulate itself quite well.

 

[Foxx]

8 hours ago, BeginnersMind said:

 

The blockchain is a great idea. But the current “currencies” are vulnerable to spectacular and new ways of failing.

 

It’s interesting to watch. 

right, this will only strengthen the networks for what is to come.

 

2018 is going to be amazing!

 

 

anybody watch BBT last night?

loved it!

 

Edited December 1, 2017 by Foxx

[Captain_Quint]

2 hours ago, Foxx said:

right, this will only strengthen the networks for what is to come.

 

2018 is going to be amazing!

 

 

anybody watch BBT last night?

loved it!

 

Alright, I can wrap my mind around cryptos, blockchains, bitcoin, ethereum.

 

But Big Bang Theory? Common, man! 

5 minutes ago, mead107 said:

Put your order in now for meadcoins before Christmas. 

 

I'll take three rolls, gift wrapped in stromboli, please.

[4merper4mer]

4 minutes ago, Captain_Quint said:

Alright, I can wrap my mind around cryptos, blockchains, bitcoin, ethereum.

 

But Big Bang Theory? Common, man! 

 

 

Why not?  It proved aliens don't exist.

[plenzmd1]

I did it, I jumped in with a plan, half of it executed. Bought at ETF with a good size position in Bitcoin, but also other investments focused on technology breakthroughs.

 

I want to buy ETH but still can not get my Coinbase account set up. I will investigate other purchase methods today.

 

Hesitant to buy Bitcoin just yet as I think there may be a pullback short term and will look to buy on a dip. If it breaks $10..5K and holds above, I will buy some then if no pullback occurs.

[BeginnersMind]

2 hours ago, Foxx said:

right, this will only strengthen the networks for what is to come.

 

2018 is going to be amazing!

 

 

 

I trust "can't lose" investors as much I trust 6 month old milk. 

[plenzmd1]

This is a good article from the Economist just came across with my new fancy Google Alert!

 

https://www.economist.com/news/finance-and-economics/21731827-getting-out-such-illiquid-asset-can-be-harder-getting-bitcoins

 

And beginners, I am with you. Many here to young to remember the frenzy in Dot Coms in the late 90's. Back then many bought the "this can only go higher, its the future " and bought valuations that were all out of whack. The "old school " analysts kept saying the valuations are out of whack, and they were mocked for just being old. Turns out they were correct.

 

While the technology and future of how our lives would change based on "the internet " was spot on, the bubble was absolutely there and many people got crushed. I made money during that time, but sure as hell left a lot on the table when things came a crumbling down.

 

That is why the majority of what I am going to invest right now went into the ETF, as the broader goal is investing in disruptive technologies that fundamentally will change our lives, not just crypto.

 

ETH I want a small position, cause looks to me like that is the play on the blockchain, and to me that's the engine to drive this revolution into crypto.

[Jauronimo]

3 hours ago, plenzmd1 said:

This is a good article from the Economist just came across with my new fancy Google Alert!

 

https://www.economist.com/news/finance-and-economics/21731827-getting-out-such-illiquid-asset-can-be-harder-getting-bitcoins

 

And beginners, I am with you. Many here to young to remember the frenzy in Dot Coms in the late 90's. Back then many bought the "this can only go higher, its the future " and bought valuations that were all out of whack. The "old school " analysts kept saying the valuations are out of whack, and they were mocked for just being old. Turns out they were correct.

 

While the technology and future of how our lives would change based on "the internet " was spot on, the bubble was absolutely there and many people got crushed. I made money during that time, but sure as hell left a lot on the table when things came a crumbling down.

 

That is why the majority of what I am going to invest right now went into the ETF, as the broader goal is investing in disruptive technologies that fundamentally will change our lives, not just crypto.

 

ETH I want a small position, cause looks to me like that is the play on the blockchain, and to me that's the engine to drive this revolution into crypto.

ETH looks like a play that meets both criteria to me.

[GoBills808]

So nobody wants in on my Forever Stamps buy?

[Foxx]

10 hours ago, Captain_Quint said:

Alright, I can wrap my mind around cryptos, blockchains, bitcoin, ethereum.

 

But Big Bang Theory? Common, man! 

i love it because of the exposure that Bitcoin just experienced. early adopters here we come!

9 hours ago, BeginnersMind said:

 

I trust "can't lose" investors as much I trust 6 month old milk. 

hey, it is incumbant upon you to do your own research. I don't offer financial advice so please, please do not listen to anything i may say. 

 

i am just a believer in a trustless, decentralized disruptive technology that is going to change the world for the better.

 

crucify me all you like, i got broad shoulders.

Edited December 1, 2017 by Foxx

[Foxx]

11 hours ago, plenzmd1 said:

I did it, I jumped in with a plan, half of it executed. Bought at ETF with a good size position in Bitcoin, but also other investments focused on technology breakthroughs.

 

I want to buy ETH but still can not get my Coinbase account set up. I will investigate other purchase methods today.

 

Hesitant to buy Bitcoin just yet as I think there may be a pullback short term and will look to buy on a dip. If it breaks $10..5K and holds above, I will buy some then if no pullback occurs.

Coinbase takes forever. first you must upload all kinds of documentation then ACH takes forever and a day. credit card is instant but it will cost you 3.9%. after you get set up at Coinbase, be sure and set up an account at GDAX, it is coinbase's exchange and the fees are significantly less.

 

Bitstamp also works for getting fiat into the cryptoverse.

 

Lol, the pullback for Btc just happened, it hit $11k and fell to $8.5k now it is back up to $11k. i think you missed it.

 

 

10 hours ago, plenzmd1 said:

... ETH I want a small position, cause looks to me like that is the play on the blockchain, and to me that's the engine to drive this revolution into crypto.

Ethereum has the Smart Contract aspect of its blockchain. though Ethereum was not intended to be a currency that it has become it is proving to be quite valuable. what is going on with these smart contracts is that the new way to raise venture capital for your business venture is to have an ICO (initial coin offering). the number of ICOs of the recent past (4 months) is astounding. ETH is used as the purchasing vehicle in most of these ICOs. the ICO will be replacing the IPO as it falls to the wayside.

 

trustless, decentralized, disruptive, anti-fragile are the new adjectives within this emerging paradigm.

Edited December 2, 2017 by Foxx

[plenzmd1]

Coinbase just signed Asiff Hirji to run the company. Andreessen Horowitz heavy hitter, huge get for Coinbase.

 

Good sign, AH got a ton of money in Coinbase, they are doubling down by having one of there own lead it. Wish it  Lars Dalgaard , but this is not his puppy. Lars can make any company hugely successful!

[PolishDave]

On 12/1/2017 at 11:43 AM, Jauronimo said:

ETH looks like a play that meets both criteria to me.

 

Bitcoin and ETH will both ultimately become obsolete just as the 56K modem and its predecessors essentially have.

 

The long lasting cyptos (ones that are backed and condoned by the largest world governments, IMF, world banks, etc.) have yet to be invented most likely.  Probably years down the road yet.

 

All current crypto investments are much more likely to be profitable in the near term (several more years perhaps of ups and downs) up until whatever creation that comes into existence in the future ultimately becomes the defacto - standard world crypto.

 

The existence and acceptance of cryptos (on a mass scale - especially by Americans) is very, very bearish for the US dollar and likely to ignite dollar inflation on a severe level at some point thereby rewarding all of those idiots who have overspent their living standard and punishing conservative investors who have tried to build a nestegg through conservatively investing saved earnings.   

 

Don't sell any of your physical gold, silver or copper over the next few years unless you intend to buy it back cheaper shortly thereafter.   

 

If the cryptos gain acceptance among the average American to the point where Joe average begins conducting a high percentage of commerce using them - then very bad things are coming for America as a nation.  This is why I think the US government will put a stop to unregulated open source cryptos (to the best of their ability)- within the next 5 years or so.  Timeline is very questionable and up for debate.  They will probably try to stop open source crypto use by making it illegal for any American to conduct business using them.  They will only allow use of a crypto they can control and manipulate so they can continue to slowly inflate away its value as all Keynesian economists love to do.  (my opinion)

 

Banks create money in America by making new loans.  The economy and the stability of the economy depends on that.   If people stop using US dollars to make purchases and begin using  cryptos instead,   America will experience a massive over supply of dollars.   The value of the dollar will collapse.   The Federal Reserve will lose control of its ability to regulate how hot or cold the economy runs at.

 

Banks will begin to fail.    The banking crisis of 2008 will look like it was really no big deal at all.

 

This is why, in my opinion, the American government will be forced to outlaw the use of "outside" cryptos as a means of conducting domestic commerce.   They may allow it for international commerce.    Very unlikely they allow it for domestic use unless it is a crypto they control and one that has a built in mechanism where the "Federal Reserve" can control its supply.

 

Without that, the American financial system does not exist - and the collapse of America becomes a horrific reality.   Whoever is in control of the White House at the time this starts happening will be forced to try to stop it at all costs.

 

The entire United States economy relies on Americans putting their faith in a currency the government has a large degree of control over.   If Americans lose faith in the dollar (as they will would if the value collapsed quickly enough) then our entire economy would likely tip over like one giant domino.   And break into pieces.   And the most valuable thing you will own at that point is ammunition for your guns.

[plenzmd1]

5 minutes ago, mead107 said:

I’m going to give Plezmed a meadcoin this weekend. 

In Bart Scotts eternal words...Cant Wait!

[plenzmd1]

Dang, $12.8K and rising, and I got none outside my ETF!

 

Having said that, had I bought last week at $8800, you can be damn sure I would be selling today!

[wnysteel]

2 hours ago, plenzmd1 said:

Dang, $12.8K and rising, and I got none outside my ETF!

 

Having said that, had I bought last week at $8800, you can be damn sure I would be selling today!

did my research, made a token investment last week and committed to more today. i'm in it for the long haul.

[Foxx]

5 hours ago, plenzmd1 said:

Dang, $12.8K and rising, and I got none outside my ETF!

 

Having said that, had I bought last week at $8800, you can be damn sure I would be selling today!

just keep buying and hodl! you won't be sorry. 

 

lol on ETF and futures. you don't own BTC with them. obtain the real thing. again, you won't be sorry.

Edited December 6, 2017 by Foxx