Bitcoin storms past $11,000 Signals a lost in confidence in traditional investments

[Angstrom]

Bitcoin storms past $11,000 amid dire warnings: 'The biggest bubble of our lifetimes'

And housing continues it’s unlikely climbing amid pressures to slow it, in Toronto Vancouver and now even Montreal, as condo sells skyrocket in the Quebec city.

Bitcoin storms past $11,000 amid dire warnings: ‘The biggest bubble of our lifetimes’ | Financial Post

The budget will balance itself.

People must think traditional markets is rigged

 

[Walter]

Bullshit, stock markets are at record highs. Bitcoin is the current tulip market.

 

[Angstrom]

Bullshit, stock markets are at record highs. Bitcoin is the current tulip market.

I think you fail to understand what Bitcoin represents. Its not a commodity. Its a currency with as much government backing as cdn tire money.

Its success represents the failure of government backed currency, and the lost in confidence in them.

There is no way Bitcoin would have anywhere close to the success its having if government currency had the confidence of investors.

 

[petros]

People are going to lose their bit shirts.

 

[Angstrom]

People are going to lose their bit shirts.

Or Bitcoin will replaces the Petro dollar. Stay tuned and find out

 

[TenPenny]

I think you fail to understand what Bitcoin represents. Its not a commodity. Its a currency with as much government backing as cdn tire money.
.

Yeah, that's exactly what he said. Just like tulips.

 

[OpposingDigit]

Bitcoin is worthless in real terms. Quantum Computers in China are mining these coins very easily with speeds unheard of 10 years ago when BitCoin was first introduced.

Bitcoin mining consumes more electricity a year than Ireland
Network’s estimated power use also exceeds that of 19 other European countries, consuming more than five times output of continent’s largest windfarm
https://www.theguardian.com/technology/2017/nov/27/bitcoin-mining-consumes-electricity-ireland

It takes forever to convert BitCoin to cash and then you are hit with fees and charges. Ethereum, the barely two years old digital currency, now processes more transactions than all other digital currencies combined, including bitcoin.

I think that the Capitalists are working in concert to force the Cryptocurrency higher and then force it to fall, thus leaving the whole world suspicious of this type of currency in the future.

About 3 months ago, I gambled 100 bucks on CloudCoin. (The price of a Bingo) - 3 Cents Canadian Each.
I am sitting back waiting for it to rise and then to collect my winnings.

 

[Angstrom]

If world currency were not as critically compromised as they are today Bitcoin wouldn’t have a chance.

Yeah, that's exactly what he said. Just like tulips.

Its a little more complex then that my dear Watson.

The tulips incident didn’t happen in the midst of a world pandemic of currency manipulation and book cooking

And that is why both housing and Bitcoin will keep rising.

 

[White_Unifier]

Bitcoin storms past $11,000 amid dire warnings: 'The biggest bubble of our lifetimes'

And housing continues it’s unlikely climbing amid pressures to slow it, in Toronto Vancouver and now even Montreal, as condo sells skyrocket in the Quebec city.

Bitcoin storms past $11,000 amid dire warnings: ‘The biggest bubble of our lifetimes’ | Financial Post

The budget will balance itself.

People must think traditional markets is rigged

No skin off my back: I don't invest in anything I don't sufficiently understand.

 

[captain morgan]

I think you fail to understand what Bitcoin represents. Its not a commodity. Its a currency with as much government backing as cdn tire money.

Its success represents the failure of government backed currency, and the lost in confidence in them.

There is no way Bitcoin would have anywhere close to the success its having if government currency had the confidence of investors.

This comes down to distribution.

until I can buy a bottle of scotch at the local retailer using bitcoin or transact in a manner to buy goods/services on the spot, bitcoin will only have value to speculators

 

[White_Unifier]

This comes down to distribution.

until I can buy a bottle of scotch at the local retailer using bitcoin or transact in a manner to buy goods/services on the spot, bitcoin will only have value to speculators

From my understanding, some businesses do accept transactions in bitcoin just as some do in gold dinars for example. As for myself though, I feel more comfortable with gold than with Bitcoin: but I still wish Bitcoin traders the best.

 

[Angstrom]

I own none myself, but I’m interested in the fact, it’s kicking the shit out of real traditional government backed currency

It almost is the money of the free republic of the internet. And i can definitely see a demand a need for a currency that is not tied to any government. So is this it?

Are we seeing the birth of our global world currency?

If China decides to start trading oil and other big commodities in Bitcoin. What happenes?

 

[White_Unifier]

I own none myself, but I’m interested in the fact, it’s kicking the shit out of real traditional government backed currency

It almost is the money of the free republic of the internet. And i can definitely see a demand a need for a currency that is not tied to any government. So is this it?

Are we seeing the birth of our global world currency?

If China decides to start trading oil and other big commodities in Bitcoin. What happenes?

Any common currency surpasses no common currency: but if I got to choose, I'd prefer gold over Bitcoin myself.

 

[petros]

Or Bitcoin will replaces the Petro dollar. Stay tuned and find out

With the US 2 years out from being energy self reliant circulation of US currenCy will plummet and the USD will be even more valuable.

 

[Angstrom]

Any common currency surpasses no common currency: but if I got to choose, I'd prefer gold over Bitcoin myself.

Gold doesn't have a inbuilt sales and purchases stock market system that is independent of all world government currency control.

Bitcoin is unique that way

With the US 2 years out from being energy self reliant circulation of US currenCy will plummet and the USD will be even more valuable.

Good point. But what about the trillions of dollars in China and Saudi Arabia? What will they buy with them?

 

[White_Unifier]

Gold doesn't have a inbuilt sales and purchases stock market system that is independent of all world government currency control.

Bitcoin is unique that way

I'm not sure what you mean.

 

[Angstrom]

What will all the Trillions of dollars overseas buy
American Land and Bitcoins?

 

[TenPenny]

Bitcoin is also fairly opaque, but the finite supply makes it interesting.

 

[White_Unifier]

American Land and Bitcoins?

I still don't follow.

 

[Angstrom]

I still don't follow.

Sorry that was for Petro