Started by N-drju, August 28, 2018, 03:55:20 am
Quote from: N-drju on August 28, 2018, 03:55:20 amI read some articles this morning and apparently another Bitcoin crash happened. I remember a discussion we once had about how prudent would it be to convert all fiat money from one's account and how it is the only thing a right-thinking person should do to preserve their wealth.This "wealth" is now down back again to 40% of its pre-crash value. I'd love to hear crypto-enthusiasts wage in on this.
Quote from: PabloMack on November 30, 2018, 08:25:39 pmSounds like a Ponzi scheme.
Quote from: WASasquatch on November 30, 2018, 11:38:11 pmIsn't that how stocks go though? Kinda the name of the game with investment opportunity.
Quote from: PabloMack on December 01, 2018, 04:39:04 pmQuote from: WASasquatch on November 30, 2018, 11:38:11 pmIsn't that how stocks go though? Kinda the name of the game with investment opportunity.Normal stocks are with companies that make cars, food, ship products etc. Seems to me that bitcoin is really more like a casino company. Enough people make money that it convinces others to put some of their money in when the odds are stacked against them. The only purpose of the company is to facilitate money changing hands. And in this case "funny money". Sounds like early comers make money off the losses of newcomers. I wouldn't try to talk myself into putting my money into that pot. (as in "potty", you know, the kind that has a flush handle on it)
Quote from: PabloMack on December 04, 2018, 06:09:00 pm"Surging prices have pushed Bitcoin's market cap to more than $71 billion, while the value of all crytocurrencies, including Bitcoin, Etherium, Litecoin, and others, is $155 billion, according to CoinMarketCap.com - and growing each day. The potential tax windfall for the IRS is huge, and the agency is now aggressively taking steps to track and crack down on Bitcoin tax cheaters."I see the abuses eventually forcing the federal government to take it over and the IRS to put their tap into the money streams so that their computers directly compute your income taxes and collect it so that you never see it then we'll all be screwed.