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Thread: Bitcoin

  1. #1
    Join Date
    Apr 2004
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    VA
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    Default Bitcoin

    Did anyone buy bitcoin today?

  2. #2
    Join Date
    Nov 2016
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    Default

    I bought some lite coin the other day I holding it for at least 6 months

  3. #3
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    Default

    Quote Originally Posted by DBeach View Post
    I bought some lite coin the other day I holding it for at least 6 months
    Why 6 months?
    Math doesn't lie, but people do.

  4. #4
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    Long youtube video explaining Bitcoin. https://youtu.be/N6NscwzbMvI
    Math doesn't lie, but people do.

  5. #5
    Join Date
    Nov 2011
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    My son who is a Chartered CFA is currently testing the waters with Bit Coin. He likes the Ethereum Bit Coin. I myself do not own any bitcoins .........but have a small position in BTLLF which is related to Bit Coins! That Villanova Education his Grand Father provided is starting to pay off!

  6. #6
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    Not really shocked this bubble has already pretty much burst. I'm wondering: Now where the bottom is and what the future is for crypto-currencies in general? Other than a volatile financial instrument to gamble on, the only real point of them is to bypass financial regulations and controls (IMHO), so the biggest users of crypto-currencies will always be criminals and not the average Joe. The only reason the average Joe played this particular bubble is because Joe likes to gamble and doesn't understand investments.
    Math doesn't lie, but people do.

  7. #7
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    Jan 2018
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    Southold, NY
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    I think you hit the nail right on the head.
    I believe block chain tech can find a place in business, but I don't hold out much hope for crypto. Governments have a vested interest in seeing them fail.

  8. #8
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    More info on my only-used-by-criminals point: https://www.sciencealert.com/bitcoin...ld-pornography
    Math doesn't lie, but people do.

  9. #9
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    The cryptocurrency space looks more and more appealing to me. I like the technology behind it (blockchain) more than the actual currency. Until the time when we actually use cryptocurrency to do most of our transactions, using dollars today to buy cryptocurrency for tomorrow is speculating only. Unless, for some cryptic reason, you need the cryptocurrency to buy something today that cannot be purchased with standard means (cash, check, credit card, money order, wire transfer, ACH, or barter) AND/OR you need the transaction to be anonymous, then you really do not NEED cryptocurrency today. Unfortunately, yes UNFORTUNATELY, the masses and the governments choose to use what is easiest to control from a centralized post to perform transactions: the US Dollar. And this is the who/how/why/what that is so attractive about the realm of cryptocurrencies for the future.
    - It decentralizes any and all transactions, making them peer to peer instead of requiring some middleman (bank, credit card, etc). Boom, no more banking infrastructure needed.
    - It anonymously allows a seamless transfer of wealth from one party to the other.
    - It removes the ability of a central government to control the supply of the currency or the underlying means for valuing it. There are no crypto-bonds.

    But what is really interesting is the blockchain technology which support the currencies. The blockchain is used to confirm both sides of the transaction and record, forever, that the transaction occurred and that assets were transferred. You can apply "asset" to just about anything... real estate, shipping manifests, pharmaceuticals, intellectual rights, moves within a game, car title, legal claims, etc, etc, etc. You can also create "smart contracts" where you and another party agreed on actions to be taken out and compensation to be garnered after satisfaction of the actions. You can think of it as electronic escrow, carried out systematically and quickly. Now, these are not necessarily "new" things, but what is new is the use of computing power to carry out the functions of these old transaction types. The efficiency gains and cost reduction will be impressive and once the companies who have typically done these old transactions see the potential to improve their bottom line, then mass adoption of the blockchain technology will be inevitable. And in that realm, cryptocurrencies will rule as the means of transferring assets between parties.
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    They for use were made.
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    - Benjamin Franklin

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