What I learned from my short life of 40 years so far is this:
The world is a playground where the naughty and shameless gets most of the toys.
Look around : you see any clever logical people who are actually running things or leading the public??
Music, total idiocracy .
Sports , bunch of overpaid uneducated spoiled personalities mostly.
Economy, total joke. All the theories we learnt went to the thrash bin and no one is questioning?!
Wizz air stock is all time high where they cant even put %20 of a capacity in a plane over 1 year.
Tesla, all time high. Cant sell cars to even %0.0001 of the population.
Media, just bollocks. Idiocracy even bigger.
We call it growth and development where we exploit the planet living on to the destruction.
I wont be surprised if bitcoin or other digital currencies reach1m USD and people kill each other to have it. Enough that certain Kardashian fake tech gurus promotes it . Govs and banks will follow suit.
BITCOIN as an alternative to regular currency
70% of Bitcoin processing power is located in China: -
U.S. vs China: The Battle for Bitcoin Mining Supremacy | WSJ
https://www.youtube.com/watch?v=-RdDmRlCbRE
U.S. vs China: The Battle for Bitcoin Mining Supremacy | WSJ
https://www.youtube.com/watch?v=-RdDmRlCbRE
- beermonsterman
- Posts: 522
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- Location: Birmingham UK
That looks like a glimpse into the future currencyEuler wrote: ↑Wed Feb 17, 2021 5:40 pm70% of Bitcoin processing power is located in China: -
U.S. vs China: The Battle for Bitcoin Mining Supremacy | WSJ
https://www.youtube.com/watch?v=-RdDmRlCbRE
governments must be shitting bricks with their Ponzi fiat schemes bout to implode not that i know much about it but taking an interest rom what I'm learning on here
Very interesting
- superfrank
- Posts: 2762
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Elon Musk: Bitcoin is 'less dumb' than holding cash
https://uk.finance.yahoo.com/news/elon- ... 32658.html
https://uk.finance.yahoo.com/news/elon- ... 32658.html
He added: “However, when fiat currency has negative real interest, only a fool wouldn’t look elsewhere. Bitcoin is almost as bs as fiat money. The key word is “almost”.
- superfrank
- Posts: 2762
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Peter Schiff is not impressed with Bitcoin (or Elon Musk buying it!).
https://twitter.com/PeterSchiff
Both Tesla and BTC having significant pullbacks this week.
https://twitter.com/PeterSchiff
Both Tesla and BTC having significant pullbacks this week.
- abgespaced
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- Location: Australia
Chance of Bitcoin going another 10x from here is high if the central banks don't stop printing money. Much of the market cap of Bitcoin is a result of rapidly devaluing the US dollar and US treasuries no longer being a viable hedge against inflation because of 0% interest rates. Gold and silver are suppose to fill this role but two problems with that - nobody knows where the gold is and silver has remained stagnant for years, so a lot of millennials don't trust metals anymore than they trust paper money. Plus crypto is opening up many doors to global trade in less sophisticated countries, so it's not just a speculative bubble; it has uses and intrinsic value contrary to what the shills say.
But value of Bitcoin aside, if crypto as a technology is still around in 5 years then it is more likely that a second generation coin will have taken it's place, therefore the potential for 10x gains on Bitcoin alternatives will be much higher than Bitcoin's chances. With at least 8000 alt coin projects and counting, I'd say it is almost a mathematical certainty that crypto will be around in 5 years and that the market cap of Bitcoin will move towards a more equidistributed home amongst the alts.
All that said, the Fed, central banks, the whales and tech giants, would-be dictators at Davos and the WEF, Wall St etc all have enough fingers in the pie to make a mess of Bitcoin, if they would rather see the power balance remain with them as the global financial system currently stands. And unless you are amongst the most fast-asleep of the population, you'd understand just how far these people are willing to go to eliminate any threat to their power.
So this isn't financial advice, but if anyone did happen to ask me how to approach speculating in crypto, I would say that a diversified approach is best.
It’s Gates Versus Musk as World’s Richest Spar Over Bitcoin
https://www.bloomberg.com/news/articles ... f=X2PkL1Vc
Unless you’re the world’s richest person, you shouldn’t be buying Bitcoin. That’s the message from Bill Gates — the third richest.
With a rally of more than 400% over the past year, Bitcoin has become increasingly mainstream, and everybody including prominent investors and policy makers have been talking about it. The world’s on-again, off-again richest person, Elon Musk, recently invested $1.5 billion in the cryptocurrency through his company, Tesla Inc., and said Bitcoin would soon be accepted for payments.
https://www.bloomberg.com/news/articles ... f=X2PkL1Vc
Unless you’re the world’s richest person, you shouldn’t be buying Bitcoin. That’s the message from Bill Gates — the third richest.
With a rally of more than 400% over the past year, Bitcoin has become increasingly mainstream, and everybody including prominent investors and policy makers have been talking about it. The world’s on-again, off-again richest person, Elon Musk, recently invested $1.5 billion in the cryptocurrency through his company, Tesla Inc., and said Bitcoin would soon be accepted for payments.
My issues with Bitcoin:
1 seems difficult to hold - where to obtain? is it safe from hacking? All of the middle service providers seem dodgy or like cfd providers?
2 seems difficult to use as a medium of exchange
3 still restricted to a very small community
.....
I’ve been gradually buying gold (via pmgold on asx which gives right to hold physical)
In comparison to bitcoin
1 easy to purchase on asx. Well regulated. Perth Mint is guaranteed by the western Australian government.
2 difficult as medium of exchange (have to sell on asx and convert back to fiat currency) cannot buy a coffee.
3 gold has a broader community than Bitcoin (that could of course change) and thousands of years of human history as a store of value.
......
So for me I’ll just keep buying gold for the foreseeable future, try to get up to 10% in gold. At moment got 4% in gold.
1 seems difficult to hold - where to obtain? is it safe from hacking? All of the middle service providers seem dodgy or like cfd providers?
2 seems difficult to use as a medium of exchange
3 still restricted to a very small community
.....
I’ve been gradually buying gold (via pmgold on asx which gives right to hold physical)
In comparison to bitcoin
1 easy to purchase on asx. Well regulated. Perth Mint is guaranteed by the western Australian government.
2 difficult as medium of exchange (have to sell on asx and convert back to fiat currency) cannot buy a coffee.
3 gold has a broader community than Bitcoin (that could of course change) and thousands of years of human history as a store of value.
......
So for me I’ll just keep buying gold for the foreseeable future, try to get up to 10% in gold. At moment got 4% in gold.
- superfrank
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- Joined: Fri Aug 14, 2009 8:28 pm
Bitcoin's detractors haven't done their research
https://tftc.io/martys-bent/issue-946-b ... -research/
https://tftc.io/tag/martys-ent/
https://tftc.io/martys-bent/issue-946-b ... -research/
https://tftc.io/tag/martys-ent/
-
- Posts: 533
- Joined: Tue Feb 14, 2017 7:27 pm
Bitcoin is also incredibly slow - 4 transactions a second, whereas VISA can do 65.
There is a usecase for this form of currency, but is bitcoin it?
There is a usecase for this form of currency, but is bitcoin it?
Exactly it's a good idea but it's not worth what its worth imo.arbitrage16 wrote: ↑Sun Mar 21, 2021 12:12 pmBitcoin is also incredibly slow - 4 transactions a second, whereas VISA can do 65.
There is a usecase for this form of currency, but is bitcoin it?
Tesla is a similar story.
I wouldn't be shorting them as you've seen how silly prices rise in all asset classes but I definitely wouldn't buy.
- superfrank
- Posts: 2762
- Joined: Fri Aug 14, 2009 8:28 pm
Bitcoin's detractors haven't done their research"How can it ever scale to the masses if it only does 7 transactions per second?"
Maybe you should read up on transaction batching, Bitcoin's protocol level as a settlement layer, and scaling payments via second and third layers.
https://tftc.io/martys-bent/issue-946-b ... -research/
Is investing shareholders funds in a speculative currency (instead of making electric cars) not a breach of fiduciary responsibility?