Bitcoin In Thailand

[Coss]

9 hours ago, chocolat steve said:

The only way Goldman Sachs can control any part of it is if they develop their own coin, control the number of and owner of tokens.

And therein my point I guess. My thoughts are, bitcoin and others like it (sorry, I used 'bitcoin' as a generic name earlier rather than a specific) will lose flavour and become unpalatable in the economic crash/flop, that you (and I) see coming. Someone like Goldman Sachs or any number of other parasitic grifters, will develop and market one that they will try and position as a gold standard/bullet proof/cant fail product, and back on the merry go round we go.

Whilst  'people who buy bitcoin' will oppose such a product, success in this modern world seem to be less about, what a small number of thinking people, will do and more about how many stupid sheep you can muster.

Perhaps, it has ever been.

[Steve]

I'm sure they will. I also think they are heavily involved in it now but can't say so because it would legitimize it. The total market is over 100 billion. That kind of market doesn't disappear. Well, well see. Maybe it will implode completely. Maybe its a consolidation point and will rise again. Let's wait and see. 

[Ed Zeppelin]

I think the banks are getting behind Ripple:

https://smartereum.com/18212/ripple-news-today-ripple-will-soon-become-the-number-one-cryptocurrency-choice-for-various-banks-brad-garlinghouse-xrp-news-today-news-wed-dec-12/

[Steve]

Bitcoin! Hovering at 23k USD / roughly 686k THB / 17k GBP. 

Two questions remain. 1. How far will it go and 2. Will it maintain its high price and not fall like before? 

Thoughts? 

[Coss]

I'm still struggling to believe in it at all.

Who gives me a refund if  I give 23k USD to someone and never get it back?

[Steve]

A deep dive has shown that investment banks both large and small as well as hedge funds and other 1 percent groups or individuals are pouring billions into it. So, it doesn't matter who believes in it or not. The people with the money do and that makes it relevant and real. 

I've noticed that the lack of faith in cryptos is largely generational and that makes sense. I've never heard anyone under 30 say its fake. Not saying its a 100 percent certainty but I've heard them say, they either invest or have not but not because it isn't real. They just have put what little money they have into other things. 

As an aside, half the things you can trade on exchanges aren't real. When you trade oil, gold or currencies in forex, etc, there is no underlying 'real' asset. You aren't trading gold for example and can't take receipt of gold if you buy it in a commodity trade. 

Finally, our governments believe in it because they are taxing profits on it. And they aren't taking 'this isn't real' as an excuse not to pay taxes on gains. 🤣

[Coss]

When I buy gold, I hold it in my hot little hand.

[Steve]

11 hours ago, Coss said:

When I buy gold, I hold it in my hot little hand.

I'm a fan of gold as well. Some people make it seems you can't have gold and bitcoin. Gold has been a store of value for 1000s of years. Silver for centuries as well. I think both (gold and bitcoin) can be a store of value. 

[Coss]

I can tell you,  I'm lucky enough to have come across some of these, valued at $2,500 US.

Send me money and you can have some too. You can't sell them, until the digital extant date, passes, in approximately 5 years from purchase date, they hold value real well.

 

[Mekong]

9 hours ago, chocolat steve said:

I'm a fan of gold as well. Some people make it seems you can't have gold and bitcoin. Gold has been a store of value for 1000s of years. Silver for centuries as well. I think both (gold and bitcoin) can be a store of value. 

The first coin “The Lydian Lion” were cast made Electrum a naturally occurring alloy of Gold and Silver. They were pretty useless since the smallest denomination was more than a days wages, therefore difficult to use to purchase a loaf of bread.

The oldest modern currency dates back to 775 AD when “Sterlings” or Silver Pennies were used by the Anglo Saxons in Britain. If you had 240 Sterlings you had one Pound in weight of Silver, hence why British Currency is known as “The Pound Sterling” 

As for Bitcoins, in my humble opinion if you are considering them, then ya needs giv’ yer ‘Ed a Wobble (Great Manchester saying, means reconsider)