Bitcoin and Other Crypto Currencies

[Hoof Hearted]

Apologize if I'm repeating a thread that has been done before, but I was away for a long spell.

Anyhoo, for a lark on my birthday my brother bought me a $50 share of Bitcoin a few years back. I have no idea what it is worth now though as one bitcoin is now worth $57,000.

Do any of you own any Crypto Currency?

 

[Hoof Hearted]

A dude on my other website bought 3 Bitcoins at $4,000 a piece. But he lost his coded password and says he's out of luck...the investment is worth nothing now.

 

[IdRatherBeSkiing]

I am always skeptical of something that has no inherent value. But it's no worse than putting all your money on #36 at the roulette table.

 

[Decapoda]

It will be interesting to see what happens to cryptocurrencies when the government finally steps in to regulate it. I suspect they are not too interested in allowing unregulated currencies that will compete with their own government backed cryptos currently being planned.

Physical currency is on it's way out, governments have come to the bold realization that they will have much more control of monetary velocity with digital "Fedcoins." It will give them unfettered access to data on where and how you are spending your money, and will eventually allow them to control how you are allowed to spend and how you're not. Bitcoin, Eutherium and the other non-regulated cryptos stand in the way of this.

 

[DaSleeper]

I've been using a debit card only for years now...
The few bucks I keep in my wallet is for garage sales....I'll be going to one down the street in about an hour
I have no interest in bit coins.

 

[bob the dog]

It will be interesting to see what happens to cryptocurrencies when the government finally steps in to regulate it. I suspect they are not too interested in allowing unregulated currencies that will compete with their own government backed cryptos currently being planned.

Physical currency is on it's way out, governments have come to the bold realization that they will have much more control of monetary velocity with digital "Fedcoins." It will give them unfettered access to data on where and how you are spending your money, and will eventually allow them to control how you are allowed to spend and how you're not. Bitcoin, Eutherium and the other non-regulated cryptos stand in the way of this.

Canadian Mint pounding out different quarters every week.

Banks will undermine any challenge to their kingdom

 

[Hoof Hearted]

Bitcoin now worth over $60,000 per coin Canadian.

I ain't sitting on the sidelines. I just bought 2000 shares of Ripple. It's a bit of cash I can have fun with...invest and forget about it.

We'll see...

 

[petros]

Why?

 

[IdRatherBeSkiing]

Why?

Cause that is what he is trying to sell. I am sure there will be 25 posts on the subject @ 7AM tomorrow morning.

 

[LuzUnderwood]

So, guys, what do you think of bitcoin now? Do you think it’s still worth investing in it? I’d be grateful if you shared your thoughts about it. I still keep mining other cryptocurrencies, btw. Mining is one of 3 income flows, so I can’t stop doing it. So, the thing is that I invested a lot of money in BTC in 2019, and I have no idea what to do now. You know, every time I see this SPAM LINK dashboard, it hits me so bad. I wish I hadn’t put all the eggs into one basket. Anyway, guys, what are your predictions of BTC?

 

[The_Foxer]

Bitcoin and other crypto are kind of like stocks were back in the 20's. The average person didn't really get them, but people got rich off of them and in the 20's people had money to spend so they invested. Then black tuesday happened and everyone was broke and the world was in recession/depression. Took many years for stock markets to be a profitable investment vehicle for most people again.

Crypto is similar. There were many reasons why it started doing well, some of which had some reasonably solid foudations. I think when the time comes that the world economy finally does recover and start running strong then interest will tend to creep back to it and it will be 'discovered' again and do well. But that's probably a little ways off just yet - we'll have a recession to go through in 2023/4 and we'll have some debt issues to address going into 2025 ish - and by 'we' i mean many of the worlds largest financial players including the US. The war is still on pushing inflation pressures in europe. We are going to be fighting a labour shortage due to retiring boomers for a bit.

But the pendulum always swings and I believe the day will come when it once again sees strong growth. Crypto grew a little fast for it's own good last time, hopefully this time it will be a little more moderate and sustainable.

 

[IdRatherBeSkiing]

Bitcoin and other crypto are kind of like stocks were back in the 20's. The average person didn't really get them, but people got rich off of them and in the 20's people had money to spend so they invested. Then black tuesday happened and everyone was broke and the world was in recession/depression. Took many years for stock markets to be a profitable investment vehicle for most people again.

Crypto is similar. There were many reasons why it started doing well, some of which had some reasonably solid foudations. I think when the time comes that the world economy finally does recover and start running strong then interest will tend to creep back to it and it will be 'discovered' again and do well. But that's probably a little ways off just yet - we'll have a recession to go through in 2023/4 and we'll have some debt issues to address going into 2025 ish - and by 'we' i mean many of the worlds largest financial players including the US. The war is still on pushing inflation pressures in europe. We are going to be fighting a labour shortage due to retiring boomers for a bit.

But the pendulum always swings and I believe the day will come when it once again sees strong growth. Crypto grew a little fast for it's own good last time, hopefully this time it will be a little more moderate and sustainable.

One of the things that helped fixed the stock market after the 1929 crash was increased regulations and oversight. Think the same will be required for crypto to make it trustworthy. Although unregulated it is the wild wild west and as long as we don't expect the government to bail out the suckers who lost their shirts, I have no issue with leaving it a buyer beware domain.

 

[The_Foxer]

One of the things that helped fixed the stock market after the 1929 crash was increased regulations and oversight. Think the same will be required for crypto to make it trustworthy. Although unregulated it is the wild wild west and as long as we don't expect the government to bail out the suckers who lost their shirts, I have no issue with leaving it a buyer beware domain.

Truth, and crypto was already moving towards regulation so you're probably on the right track there.