TasDom Posted May 22, 2017 Share Posted May 22, 2017 If you bought $100 of bitcoin 7 years ago, you'd be sitting on $72.9 million now after new record high..... WOW! http://www.msn.com/en-us/money/markets/if-you-bought-dollar100-of-bitcoin-7-years-ago-youd-be-sitting-on-dollar729-million-now-after-new-record-high/ar-BBBnINV?li=BBnb7Kz&ocid=HPDHP17 Quote Link to comment Share on other sites More sharing options...
CECAA850 Posted May 22, 2017 Share Posted May 22, 2017 Not a bad R.O.I. Quote Link to comment Share on other sites More sharing options...
oldtimer Posted May 22, 2017 Share Posted May 22, 2017 I think I would unload them for that. Quote Link to comment Share on other sites More sharing options...
Jeff Matthews Posted May 22, 2017 Share Posted May 22, 2017 5 hours ago, oldtimer said: I think I would unload them for that. No doubt. Quote Link to comment Share on other sites More sharing options...
Endo Posted May 23, 2017 Share Posted May 23, 2017 This event is a direct function of the fall of the U.S. Dollar (and our losing "reserve-currency" status). Between 2008 and 2012 the Federal Reserve inflates the U.S. Dollar more than 600% [Flashback 2008: 'Quantitative Easing 1', QE2, QE3, and the finalé, QE4 (aka QE 'infinity': no ceiling... )]. Anyone remember? After that... who knows; find the stats, if you can... The largest movement of wealth in the history of civilization. I invite rebuttal (resistance is futile). As the world's reserve currency is destroyed, people of wealth look for shelter... That's what is happening now with bitcoin. Bear in mind: "Inflation" is not defined as an increase in prices (no, this would be a _symptom_ of inflation). Inflation, rather, is simply increasing the currency base of a fiat system. Pure and simple. That isn't me, that is Alan Greenspan talking. Via the process of "printing" money, those who control the issue of our currency do not need to tax, they can merely "print"... and by so doing--siphon "value" from the currency base. For those interested, I invite you to do the math. Quote Link to comment Share on other sites More sharing options...
oldtimer Posted May 23, 2017 Share Posted May 23, 2017 Ummm, the dollar is stronger now than it was then. It's all relative. Quote Link to comment Share on other sites More sharing options...
oldtimer Posted May 23, 2017 Share Posted May 23, 2017 1 minute ago, 7heavenlyplaces said: Stronger now? In what ways? Just wondering... Check out the dollar index history. It's a measure of relative strength versus other currencies. And as a general announcement, when you post here you are exposing yourself to lots of people with education and experience. You're not just chatting with your breitbart or info wars buddies. Quote Link to comment Share on other sites More sharing options...
JJkizak Posted May 23, 2017 Share Posted May 23, 2017 I always wondered about this: If you start out a country with 100 dollars in day one and 10 years later there are trillions of dollars where did those other dollars come from? JJK Quote Link to comment Share on other sites More sharing options...
Quiet_Hollow Posted May 27, 2017 Share Posted May 27, 2017 Trick question. The real one should be..."Did anyone legitimately know about bitcoin 7 years ago??" I wouldn't get my panties in a wad over missing this boat. An account can live or die by FOREX....of any type. Quote Link to comment Share on other sites More sharing options...
Endo Posted May 27, 2017 Share Posted May 27, 2017 While it doesn't begin to explain all that is going on, the correlation I mention exists. The rise of stronger currencies resulting from the collapse of a weaker one is a matter of history. Anyone under the impression the U.S. Dollar is "stronger than it was" doesn't know which shell the pea is under. My apologies for the schoolmarmish tone earlier; but, let's not reduce ourselves to trading insults. My first foray into The Lounge. Exhilarating. Quote Link to comment Share on other sites More sharing options...
Jeff Matthews Posted May 27, 2017 Share Posted May 27, 2017 5 hours ago, Endo said: While it doesn't begin to explain all that is going on, the correlation I mention exists. The rise of stronger currencies resulting from the collapse of a weaker one is a matter of history. Anyone under the impression the U.S. Dollar is "stronger than it was" doesn't know which shell the pea is under. This principle doesn't just apply to currencies. That's why the stock market is doing so well. Quote Link to comment Share on other sites More sharing options...
oldtimer Posted May 27, 2017 Share Posted May 27, 2017 4 minutes ago, Jeff Matthews said: This principle doesn't just apply to currencies. That's why the stock market is doing so well. Which ironically creates demand for dollars. Quote Link to comment Share on other sites More sharing options...
Jeff Matthews Posted May 27, 2017 Share Posted May 27, 2017 1 minute ago, oldtimer said: Which ironically creates demand for dollars. The dollar is just the medium for exchange. Quote Link to comment Share on other sites More sharing options...
oldtimer Posted May 27, 2017 Share Posted May 27, 2017 Just now, Jeff Matthews said: The dollar is just the medium for exchange. Of course. We had a thread about this a few years ago if you may recall. Quote Link to comment Share on other sites More sharing options...
Jeff Matthews Posted May 27, 2017 Share Posted May 27, 2017 Just now, oldtimer said: Of course. We had a thread about this a few years ago if you may recall. I don't recall. Regarding bitcoin, I don't understand its significance. It's called a currency. What, pragmatically, can be purchased with bitcoin, other than dollars? Quote Link to comment Share on other sites More sharing options...
oldtimer Posted May 27, 2017 Share Posted May 27, 2017 Just now, Jeff Matthews said: I don't recall. Regarding bitcoin, I don't understand its significance. It's called a currency. What, pragmatically, can be purchased with bitcoin, other than dollars? Whatever someone else is willing to part with for them. Quote Link to comment Share on other sites More sharing options...
Jeff Matthews Posted May 27, 2017 Share Posted May 27, 2017 5 hours ago, Endo said: My apologies for the schoolmarmish tone earlier; but, let's not reduce ourselves to trading insults. You're going to need another 4,959 posts before you can marm and insult all you want. Quote Link to comment Share on other sites More sharing options...
Jeff Matthews Posted May 27, 2017 Share Posted May 27, 2017 Just now, oldtimer said: Whatever someone else is willing to part with for them. That answer is why I used the word, "pragmatically." For example, can you shop on-line and pay with bitcoin? Quote Link to comment Share on other sites More sharing options...
oldtimer Posted May 27, 2017 Share Posted May 27, 2017 If they are accepted. Like any medium of exchange, it has to be accepted. Quote Link to comment Share on other sites More sharing options...
Jeff Matthews Posted May 27, 2017 Share Posted May 27, 2017 3 minutes ago, oldtimer said: If they are accepted. Like any medium of exchange, it has to be accepted. Right. If I understand correctly, Wal-Mart, Amazon, et al. won't take it. This brings into question whether it is a currency. It was intended to be a currency, but it seems it turned out to be a collector's item. Quote Link to comment Share on other sites More sharing options...
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