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this thread started in 2014. If stonesoup even put a modest amount into it at the time and kept them till now, he's laughing himself to death reading these comments. Fact is, its created a large number of millionaires and hedge funds, wall street banks, etc are involved.4 years ago, financial news programs barely mentioned it, now its talked about as much as google and facebook shares. 

Someone knows something apparently. 

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I have a maxim   If I want to see the price of something dive, I'll invest in it.   I got out of Apple when it was having a slide some many years back. But I've never BitCoined so this one is not

I got into cybercurrency/cryptocurrency after a friend was going on about. I did some research and at first nibbled late 2015 then got in heavier. Best effin investment I've ever had. I worry about tw

https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12081112   Bitcoin bloodbath continues as speculative bubble bursts...

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Interesting Block Chain goes back to the 70's, the basic core of BitCoin Etc

 

Distributed consensus needed for ledgers goes back to Bruce Thomas, centralized to Alberg in the same times

 

So it's not really that new, Bitcoin could have been written if someone requested, just is no one did, till the Creative Commons group started it, look for the first published paper in Creative Commons.

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17 hours ago, chocolat steve said:

this thread started in 2014. If stonesoup even put a modest amount into it at the time and kept them till now, he's laughing himself to death reading these comments. Fact is, its created a large number of millionaires and hedge funds, wall street banks, etc are involved.4 years ago, financial news programs barely mentioned it, now its talked about as much as google and facebook shares. 

Someone knows something apparently. 

I understand that people with computers, electricity and jobs and a stable source of income in "regular" money, may choose to put money into bitcoin or facebook or even one of Trump's ventures.

But how many guns would a bitcoin buy you in Ethiopia right now? as against, I don't know, maybe a hand full of Krugerrands?

https://indianexpress.com/article/opinion/trouble-returns-to-ethiopia-7107544/

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I'll use the term cryptos as an all inclusive term. In theory, they are a great replacement for fiat currency in places like Ethiopia. Why? The Ethiopian Birr is a low worth currency. It is also open to attack and manipulation by outside forces. Is its is more defined. It can't be nearly as easily manipulated. And if its adopted by enough countries, it gives developing countries like Ethiopia a far greater ability to participate in world trade. 

Fiat currency as we understand are numbers on a computer screen. There is no gold backing them up as was the case 75 years ago. Finally, doesn't matter how much bitcoin is slated on here, its well over 500 billion market and approaching a trillion. The lotion is already out of the bottle. 

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  • 4 weeks later...
On 12/25/2020 at 1:27 PM, chocolat steve said:

this thread started in 2014. If stonesoup even put a modest amount into it at the time and kept them till now, he's laughing himself to death reading these comments. Fact is, its created a large number of millionaires and hedge funds, wall street banks, etc are involved.4 years ago, financial news programs barely mentioned it, now its talked about as much as google and facebook shares. 

Someone knows something apparently. 

I'm not arguing, just posting a bit of news...

https://www.stuff.co.nz/business/money/123969048/monday-thoughts-take-extreme-care-if-investing-in-bitcoin

Last week the Financial Conduct Authority (FCA), a UK regulator, fired a shot banning many financial products linked to cryptocurrencies (but not banning cryptocurrencies themselves).

The FCA’s warning is stark – that Bitcoin and similar currencies are ill-suited to the average investor and in fact pose harm.

The regulator warns cryptocurrencies cannot be easily valued, are open to cyber theft, have wild price swings and aren’t well understood. To top it off the FCA said there is a “lack of legitimate investment need for retail consumers to invest in these products”.

So the FCA, a UK government watchdog, is effectively saying cryptocurrencies are a mix of pointless and dangerous for investors.

They go so far as to say “investors should be prepared to lose all their money.”

Much of what they say is true.

...

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On 12/26/2020 at 6:12 PM, chocolat steve said:

I'll use the term cryptos as an all inclusive term. In theory, they are a great replacement for fiat currency in places like Ethiopia. Why? The Ethiopian Birr is a low worth currency. It is also open to attack and manipulation by outside forces. Is its is more defined. It can't be nearly as easily manipulated. And if its adopted by enough countries, it gives developing countries like Ethiopia a far greater ability to participate in world trade. 

Fiat currency as we understand are numbers on a computer screen. There is no gold backing them up as was the case 75 years ago. Finally, doesn't matter how much bitcoin is slated on here, its well over 500 billion market and approaching a trillion. The lotion is already out of the bottle. 

It's ineresting a lot of the blockchain technology dats back to the early 70's - I think first patent by IBM

 

Agree there needs to be a international currency, independent of the USD, however most international trade including with China is in USD

 

I'd be very happy for a single currency for the reasons you mention

 

Just not a speculative currency as that does not remove the issue facing Ethiopia

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Bitcoin has won. People can argue against it, show skepticism but its won. Its nearing a trillion in market value and the 1 percent have bought in. The milennials, Gen y and exers were already on board. 

I do notice though, the almost all the skeptics are over 50. Just saying. 

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Stone soup has to be laughing his ass off right now looking at the comments. In the interest of full disclosure as I mentioned, I have bought into it about six years or so. :)

As well as some other ones. The pundits are saying anywhere from 50k to 100k this year and 300k to 500k by mid '20s. 

By that time the US and global economy will likely have had a massive crash. 

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My track, on investments of any kind, is so poor that I have a saying, "if I want the price of oil to go down, I'll buy some oils stocks". When I bought gold it lost 15% in  3 months. If I buy some bitcoin, it'll be gone...

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4 hours ago, Coss said:

My track, on investments of any kind, is so poor that I have a saying, "if I want the price of oil to go down, I'll buy some oils stocks". When I bought gold it lost 15% in  3 months. If I buy some bitcoin, it'll be gone...

You'll keep us updated then on your investment choices.......

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