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

darkbeaver

darkbeaver

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What is traditional investment? Wooden ships, bronze swords, breastplates, arrows, cattle, soldiers, cooks and pikes and after a bit cannons and mustard gas. Is investment traditional still? Sack, Loot and Burn yes it certainly is.
 
Angstrom

Angstrom

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White_Unifier said:
I asked what value Bitcoin would retain if it lost its value as a currency. You just described its value as a currency. In other words, if it should ever lose its value as a currency, it would lose all of its value since it possesses neither intrinsic value nor any legal-tender status in any state.

I'm not denying that a currency that retains no value other than as a currency can still thrive, but it's just far riskier too. If it has either legal-tender status or at least an intrinsic value other than as a mere currency, then even if it loses its value as a currency, it will still maintain its intrinsic value so as to prevent you from losing its entire value. That makes it a safer currency.
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They have billions of computer rigs pupping out insanely large amounts of processing power able to resolve massive algorithms.Thats not nothing. It could be its own stock market. Easily
 
White_Unifier

White_Unifier

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Angstrom said:
They have billions of computer rigs pupping out insanely large amounts of processing power able to resolve massive algorithms.Thats not nothing. It could be its own stock market. Easily
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I'll put it another way. What can you do with a Bitcoin other than to pay a debt?

captain morgan said:
Traditional investment was marrying off your son or daughter to a competing clan/tribe in order to prevent being slaughtered by that very same group.
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Interesting. A modern Western equivalent might be immigration, emigration, and international marriage I take it.

And free trade too of course. You don't start a war with your most important trading partner, especially when your people have family members there.
 
H

Hoid

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Bitcoin is a money laundering scheme and as such cannot miss.
 
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OpposingDigit

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I understand that the U.S. government is now demanding all records of crypto currencies in order to tax capital gains.
 
Angstrom

Angstrom

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captain morgan said:
Upon conversion of their bitcoin, presumably that individual will want to deposit all or a portion of that cash in a bank ~ that is where the assessment will be made
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Interesting. For sure the governments will want to know what’s going on.
 
White_Unifier

White_Unifier

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OpposingDigit said:
I understand that the U.S. government is now demanding all records of crypto currencies in order to tax capital gains.
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I don't see how exceptional that is. In Canada for example, I'm legally required to accept Canadian dollars as legal tender to pay a debt but am also legally free to accept any other currency too from gold to silver to swamp water as an alternative as long as it's mutually agreed. However, accepting an alternative currency does not exempt me from paying taxes. I'm still legally required to convert the other currency into Canadian dollars when calculating the taxes that I owe. To not require that would clearly leave a gaping loophole in our tax laws if I could avoid taxes just by encouraging my clients to use a different currency.
 
Danbones

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Now that it's traded on the futures market, the bankers can play it just like they have been busted doing with gold and silver and everything else.

So watch for the gigantic pump and dump

IMH... I would be thinking of a gold or similar commodity backed block chain currency.

darkbeaver said:
What is traditional investment? Wooden ships, bronze swords, breastplates, arrows, cattle, soldiers, cooks and pikes and after a bit cannons and mustard gas. Is investment traditional still? Sack, Loot and Burn yes it certainly is.
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Wooden stakes and silver bullets
:)

 
Angstrom

Angstrom

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Danbones said:
Now that it's traded on the futures market, the bankers can play it just like they have been busted doing with gold and silver and everything else.

So watch for the gigantic pump and dump

IMH... I would be thinking of a gold or similar commodity backed block chain currency.



Wooden stakes and silver bullets
:)
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There is à defined limited amount. You can’t dig more up like you can with gold & silver.
 
Danbones

Danbones

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No, with futures you don't have to actually own any at all...
;)
It's a derivative - you are betting against future prices going up or down.

It's how that famous backer of the AUNTIE TRUMP LEFT destroyed the British pound a couple of years ago...
 
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