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Bitcoin reached a 1 trillion dollar market cap today!


Schu
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1 hour ago, Schu said:

HERE is the reason for the momentary dump... it was a move to crush the leverage traders long positions. those leverage traders lost more than 3 billion in leverage and was the biggest wrecking in the history of the crypto space... bitcoin is fine and strong.

Compare to this:

 

"The drop appears to coincide with reports that the US Treasury is planning to tackle financial institutions for money laundering carried out through digital assets." 

 

Source:  https://finance.yahoo.com/news/bitcoin-price-sunday-18-april-us-treasury-digital-assets-ethereum-litecoin-coinbase-doge-094926937.html

 

Once government controls the flow, the product is as useless/useful as a dollar, and the game is over (IMO).

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14 minutes ago, Jeff Matthews said:

Compare to this:

 

"The drop appears to coincide with reports that the US Treasury is planning to tackle financial institutions for money laundering carried out through digital assets." 

 

Source:  https://finance.yahoo.com/news/bitcoin-price-sunday-18-april-us-treasury-digital-assets-ethereum-litecoin-coinbase-doge-094926937.html

 

Once government controls the flow, the product is as useless/useful as a dollar, and the game is over (IMO).

 

dont use yahoo for financial information... jesus.

 

serendipity at best.

 

HERE is why bitcoin is the WORST medium for money laundering and illicit activities... that narrative is FALSE and put forth by the misinformed and uneducated. BITCOIN... has a public ledger, and every single transaction, trade and move ever created and executed on it's blockchain has been recorded, can be viewed and is immutable!

 

the NUMBER ONE used currency for transfer of value for illicit activities... the US Dollar.

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4 minutes ago, Schu said:

 

dont use yahoo for financial information... jesus.

 

serendipity at best.

If you can create a cryptocurrency in 3 hours, why would you buy Bitcoin at $60k?  Is there something special about its being "the original" cryptocurrency?

 

You've got Doge going up 4,000% in a month or so.  Why wouldn't people be bailing out of BTC big-time to go into Doge?  Or Ethereum?  Or Poody-toin?

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4 hours ago, Jeff Matthews said:

Right.  "Currency" is a misnomer.

 

Now, it's just a concept to which people have acribed value.

 

that is true of ANY asset... specially the 'not so special' precious metals.

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2 hours ago, geoff. said:

Once again I will ask this question.

 

If bitcoin is such a sure thing, and there are only the coins left to be mined to be bought as new.

 

Who is selling such a sure thing?

 

like anything that has value, people occasionally have real world costs and responsibilities that need to be satisfied so they need to take profits. Perhaps they are using it to fund other crypto purchases.... etc

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2 hours ago, Jeff Matthews said:

You've got Doge going up 4,000% in a month or so.  Why wouldn't people be bailing out of BTC big-time to go into Doge?  Or Ethereum?  Or Poody-toin?

or how about StewBucks?  

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1 minute ago, Jeff Matthews said:

Not correct.  Many assets that are acquired for investment purposes either produce something or can be used to produce something useful.

but that value isn't intrinsically ... it's value comes from what others are willing to pay for it or what it produces. That's why there is no such thing as a bad deal ... if I'm willing to sell something for a certain price and you're willing to pay that price ... it was a fair deal.

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1 minute ago, BigStewMan said:

but that value isn't intrinsically ... it's value comes from what others are willing to pay for it or what it produces. That's why there is no such thing as a bad deal ... if I'm willing to sell something for a certain price and you're willing to pay that price ... it was a fair deal.

At the moment, but not necessarily as an investment.  

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9 minutes ago, Jeff Matthews said:

Not correct.  Many assets that are acquired for investment purposes either produce something or can be used to produce something useful.

 

it is absolutely true... the only reason any asset including gold, real estate or functioning corporation has value is because people have belief in the fact that it has value. if no one believed in the US monetary system, it wouldn't be the world reserve currency (yes there are other factors involved, I know this already). Gold is only considered 'Intrinsic' because it has been around for so long... there is NOTHING inherent in gold that makes it truly intrinsic other than this 'history'... it's a metal that can be mined at will and has a literal uncapped supply.

 

 

I think you do not fully understand what bitcoin is (obviously) because we need to have this level of conversation about it's validity... if we can accept that it is valid (like most ALL financial experts do), then we can move onto more reasonable discussions about the Coin.

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1 minute ago, Schu said:

 

it is absolutely true... the only reason any asset including gold, real estate or functioning corporation has value is because people have belief in the fact that it has value.

I think you do not fully understand what bitcoin is (obviously) because we need to have this level of conversation about it's validity... if we can accept that it is valid (like most ALL financial experts do), then we can move onto more reasonable discussions about the Coin.

I already agreed it had value.  I just believe that its value is too unstable to predict whether I can profit from it.

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  • 2 weeks later...

The latest TV interview (Consuelo Mach) with the leading mutual fund top honcho with bitcoin in it's portfolio says that all banks are preparing their own version of Bitcoin.He also said it is gaining momentum in validity. 

JJK

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  • 3 weeks later...

Bitcoin was created based on a paper written in 2008 by a “founder” who goes by the pseudonym Satoshi Nakamoto, but no person or agency currently regulates it to ensure that it maintains value and liquidity and works as a means of payment. It’s governed by consensus of a private digital community according to guidelines based on the community, cryptology, and a network of computers. It is promoted by the Bitcoin Foundation, but the foundation does not control or manage Bitcoin’s trading or value. The number of Bitcoins in circulation is limited by and managed by computer code and traded through one of several digital, decentralized exchanges.

 

This is what Schwab says about Bitcoin.

JJK

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Posted (edited)

I still think it is kinda gambling... You can make some money on BTC, but you still have chances of losing it. I prefer online poker lol :D I like using some of the services from this list of casinos, and it is pretty fun playing those games there. I know I lose more than I win, but it is still really fun

Edited by kellypea
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