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The funny thing is, a tulip bulb at least has some use to humanity outside of once being a medium of exchange. Bitcoin is a medium of exchange…and that is all. It’s not even pretty to look at.
Agree….you put up $10,000 and there is literally nothing you can see touch taste smell or feel.
sheesh
Interesting theory on Bitcoin (Not mine). Bitcoin (Crypto’s) is the perfect tool to move large amounts money in a fraction of a second anywhere in the world. To the individuals moving large amounts of money the price is irrelevant and in fact the higher the price the less Bitcoins needed to move said amount of money. The transaction in time is minuscule therefore price fluctuations are also irrelevant.
The other use of Bitcoin is obviously speculation/investing where price and time are relevant. Speculators/Investors are the ones looking to sell to the greater fool. The regulation arena is priced to perfection at the moment when the economic winds change for those individuals holding Crypto’s and capital gains taxes are levied and applied to said gains whatcha gonna do? Probably sell crypto’s I’m thinking? And from what I hear the IRS doesn’t take BTC. It’s the little guy holding the crypto’s who wiil be made to pay not the money movers.
You never know! There are some people out there who say that they gonna eat their balls if it does not reach ONE MILLION!
But honestly I would not be surprised if crypto market cap gets to 10-TRILLION coz it is indeed a global event. Here is an interesting thing just started, the companies starting to issue tokens instead of stocks on crypto exchanges. So welcome to the brave new world!
To everyone who has made money on the Crytpto’s kudos. That’s what this gig is all about making money in the trade no matter what the medium.
Cheers.
I have made A TON of money and multiplied my investment about 20 times since the beginning of the year !!
I made 3 or 4 posts at the beginning of may, right before the ALT coin explosion (where I made a 17 bagger on Ripple XRP) and bought a free monster box with part of the profit.
Unfortunately most goldbugs are not willing to educate themselves on cryptos and do not get that this space is something more serious than tulip bulbs ! And since they loose the opportunity most of theme are angry and wiuld like to see it crashing like tulip bulbs !!
Well done Danngermouse…you really did nail this…!
Why is this NOT a Ponzi Scheme ?
It has all the characteristics of one.
My problem with bitcoin at the moment is not that it’s a ponzi, but that it looks EXACTLY like every other bubble I’ve seen over the past 30 years, and all of those bubbles ended the same way (as depicted in the image above). I think there’s certainly a demand for cryptocurrency as a medium of exchange and there’s a lot about it that is great, at least in principle. But right now the valuation, as far as I can tell, is being driven by standard bubble dynamics, with all of the expected stories explaining why ‘this time is different’ and ‘you just don’t understand’. So I could be completely wrong, but if I was to buy bitcoin right now it would be an act of speculation, not currency conversion, and to me, at this point it doesn’t look like a good speculative bet.
Don’t forget to report those crypto profits to the government for tax purposes. Choosing to not participate in a particular market sector isn’t indicative of an unwillingness to become educated. Are you suggesting that tulip bulbs were not serious business in the 1600’s? I bet many people were devising ways to propagate entire plantations of tulips at the time. And I’m sure, like you, there were folks that made a ton of money off of tulip bulbs during that time. In your opinion, is cryptocurrency is more serious than tulip bulbs because it’s based in high technology rather than agriculture?
Maybe it’s beginning………
http://www.zerohedge.com/news/2017-12-01/signs-market-top-pole-dancing-instructor-now-bitcoin-guru
http://www.zerohedge.com/news/2017-12-02/government-coming-your-bitcoin
http://www.zerohedge.com/news/2017-12-02/government-coming-your-bitcoin
http://www.zerohedge.com/news/2017-12-01/signs-market-top-pole-dancing-instructor-now-bitcoin-guru
“The Semper Augustus which was considered the rarest, most valuable and the greatest tulip ever found, was valued at 10,000 Florence at a time where an average Dutch worker survived with a family with only 300 Florence a year.”
Idiots editing. That would be FLORINS, not Florence. Spell checking gone upside down. (Although the term did originate in Florence, Italy, yes.
And how many read this without questioning it?
when bit coin hits $1,000k then we smile upon Semper Augustus eh?