Crypto currency

Discussion in 'Business, Investing & Finance' started by Gator By Marriage, Mar 16, 2019.

  1. bradgator2

    bradgator2 Rioting
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    Uh huh, uh huh.... he said backdoor
     
    • Alumni Guy

      Alumni Guy Newbie
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    • Gatormac2112

      Gatormac2112 The Voice of Reason
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      That seems like money well spent
       
      • LoyalGatorFan

        LoyalGatorFan Well-Known Member
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        If this has already been discussed my apologies as I skipped to the end but IMO (based off various podcasts I listen to) is get on the Bitcoin train now...I think it along with gold and silver will destroy the Fed Reserve and thus the central bank system....they won’t be able to control it because it won’t be centralized...people will finally be able to control their wealth again and not live in debt anymore...the dollar will implode at some point and I feel cryptocurrency is the future.....credit card companies are already adding it to the card as a method of payment
         
      • Alumni Guy

        Alumni Guy Newbie
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        That’s a rosy outlook.

        I think Bitcoin will become prevalent, it isn’t going to render the dollar worthless or destroy the fed. Uncle Sam won’t let that happen.

        They’ll pull licenses, funding, or even criminalize it if need be to ensure they get theirs.

        I do think it will become more common, but it will be a niche/alternative and not the replacement for the almighty dollar
         
        • Concrete Helmet

          Concrete Helmet Hook, Line, and Sinker
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          Agree. When the Fidelity's, JP Morgan and Black Rock's of the world start getting involved it's for a couple of reasons. One is they are paperizing it by offering ETF's. That gives them the ability in the future to short it(think of metals)and they also have Lobbyist at their fingertips to get into the governments ear if they can't. Think of the Silver market...there's no logical reason the spot price should not be in the $40-$50 range considering the vaults don't have enough physical in them to back the ETF's at present or at least as I understand it.
           
        • EyeDocGator

          EyeDocGator Politically Incorrect
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          I don't know much about bitcoin, but I have been lucky. Around 8 years ago I heard of bitcoin and bought 10 at around $85 each. I completely forgot about this "investment" until bitcoin took off. I sold half when bitcoin was around $5000 each and kept a tidy profit, and then decided to keep the rest of my bitcoin and play with house money.

          From my perspective bitcoin is very overbought and looks like a bubble. I also don't think it is a very secure investment. I wish I knew when to cash in before the bubble pops. I don't understand how people can think this is actually a money substitute useful to escape from the dollar. My understanding is that bitcoin is totally dependent upon the internet. The internet is controlled by government, and government has the ability to shut it down. If FDR was able to confiscate gold in 1933, Joe the Shmoe can confiscate bitcoin in 2021. Is there a flaw in my thinking?
           
          • Detroitgator

            Detroitgator Well-Known Member
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            No.
             
            • Swamp Donkey

              Swamp Donkey That's the sound your mother made last night
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              Doc, your inclinations are correct.

              The reality is there is nothing that excuses bitcoin or any other virtual currency from government regulations for any other money service business/bank. The people making a living doing so, especially mixers, are rapidly finding that out.

              All of the new found "mainstreaming" of bitcoin and others has made that more evident, and the black market/dark web outliers are quickly disappearing. Coinbase and other legit sources etc are replacing some shady dude at a coffee house or a bitcoin atm in a gas station in a shtty neighborhood.

              Coinbase etc arent arent going to disappear like one of the recent bitcoin brokers (stealing tens of millions of his client's bitcoin), but they also will not hide your transactions. 99% of bitcoin users (not investors but USERS), people who buy stolen credit cards or identities, drugs, kiddy porn, and pirated contraband, arent going to find this to be a good thing. Cartels are increasingly using bitcoin to money launder but will the demand be there as the transparency evaporates?

              The final problem with the idea that "bitcoin
              will replace currency" as some suggested is that bitcoin itself will not expand to that size due to limitations in the blockchain.

              That isnt to say that bitcoin2 may not be developed (Etherium already has overcome this obstacle to the size to which it can expand) or that block chain itself (or some relative) isnt the future. However, bitcoin itself isnt.
               
              #129 Swamp Donkey, Mar 4, 2021
              Last edited: Mar 4, 2021
              • LoyalGatorFan

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                Maybe so, we shall see...but one thing I know is if Bill Gates, Janet Yellen, and other globalists are publicly bashing it to drive down the price, that means it’s a threat to them and their Fed Reserve note (the dollar)....which means invest in it
                 
              • BMF

                BMF Bad Mother....
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                Another billionaire going in on bitcoin:

                Norwegian Oil Billionaire Joins the Bets on Bitcoin

                Oil billionaire Kjell Inge Rokke has come out strongly in favor of Bitcoin, as he bets the cryptocurrency will prove the best defense against the disruption facing the finance industry and central banking.

                Rokke’s Aker ASA, which controls oil and oil service companies and has more recently branched out into green tech and renewable energy companies, is setting up a new business, Seetee AS, to tap into the potential of Bitcoin, according to a statement on Monday.

                “Bitcoin may still go to zero. But it can also become the core of a new monetary architecture,” Rokke, Norway’s second-richest person with an estimated $5.4 billion net worth, wrote in a shareholder letter. He says it’s not inconceivable that one Bitcoin could one day “be worth millions of dollars.

                “People who know the most about Bitcoin believe its future success is nearly inevitable,” Rokke said.

                Rokke’s investment will be small, and Seetee will start with just 500 million kroner ($58 million) in capital. The firm plans to keep all its liquid investable assets in the cryptocurrency.
                 
                • UFHealthGator

                  UFHealthGator Well-Known Member
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                  Replacing the USD with Bitcoin is nothing but dumbassary. My rosiest outlook for Bitcoin is for it to hit near current Gold Market cap in 10 years, which is around 10 trillion currently. That would still be a cool 10x from today. I think after that it will really level off.

                  That being said, Blockchain technology becoming used to power digital currencies around the world, including a digital USD is the future. Nothing drives this home more than when the Federal Reserve went down for hours last week.
                   
                  • LoyalGatorFan

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                    Bingo....other countries are waking up to how bad and corrupt the central bank system is...this is why we have been enslaved by debt for so long....we have been living in this illusionary system for over a century that’s riddled with interest rates, taxes, and debt....a brave new world awaits us where the power is finally returned to we the people...no more taxes, no more debt...it’s cryptocurrency, gold and silver vs the globalists Great Reset....choose wisely
                     
                  • Alumni Guy

                    Alumni Guy Newbie
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                    I hope this does not come off as sarcastic, because I’m genuine. I really am fascinated by your thoughts on Bitcoin.

                    For me, Bitcoin is similar to the early days of the internet when the government didn’t know how to regulate it. We’re still getting there, but they’ve learned to regulate it, and of course, tax it.

                    I see Bitcoin having the same destiny. Eventually Uncle Sam, China’s Panda, and Putin will find away to get their share of Bitcoin transactions. Government interference is inevitable.

                    But, your prognosis is very interesting, and scary, because it is a possibility. While we all hate taxes, they are necessary to prevent chaos.

                    Maybe we get a global currency out of it, perhaps Bitcoin is this generation’s Beanie Babies and becomes nearly worthless, or it lands somewhere in between.
                     
                  • Detroitgator

                    Detroitgator Well-Known Member
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                    There is no question in my mind that we are moving towards a currency that gives them complete control over everything we do with zero privacy. The only question is whether it is issued as a US digital currency first, then we get some form of "universal/global" digital currency, or if we go straight to the global version supported by the major central banks around the world that the Fed is in the process of completely owning.

                    No, i'm not a conspiracy nut, it's going to happen.

                    And I don't want to hear sh!t from the "everything is already digital, what you're saying isn't that different from what we have now" moron gallery. No, it isn't like what we have now, not even close.
                     
                    #135 Detroitgator, Mar 8, 2021
                    Last edited: Mar 8, 2021
                    • Concrete Helmet

                      Concrete Helmet Hook, Line, and Sinker
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                      Yeah when someone else controls your digital wallet and funding that goes into it all those stays at the Dubai Marriot and and surrounding Jiggly Rooms will be out the window for you....
                       
                      • Detroitgator

                        Detroitgator Well-Known Member
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                        Hilton DUBAI Creek... ISLAMABAD Marriott... and Raul's "massage" was charged to my room.

                        The Chinese already have this down to the micro level... you got poor "social credit," you cannot buy the nice shampoo, let alone a train or plane ticket.

                        You wanna pay the tree guy or the concrete guy the "cash price"? Forget it. Won't be possible.
                         
                      • Gator By Marriage

                        Gator By Marriage A convert to Gatorism
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                        This is an interesting take. And a logical one as well. I cannot help but feel that governments will only tolerate this for so long. As you know, I’ve been involved in dark web crap for a while, and I cannot help but believe it has been tolerated for as long as it has because it was “small potatoes.” But when that changes.....

                        I often wonder how many “dark web” users are aware of who actually created the “TOR” network.
                         
                        • LoyalGatorFan

                          LoyalGatorFan Well-Known Member
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                          Haha not at all sarcastic and I appreciate the interest....to be honest I’m not Mr Economics but just basing my beliefs off of podcasts I listen to and how the globalists like Gates, Janet Yellen, and others are bashing it publicly, that to me is enough to say we should invest in it...I’m actually meeting with my financial advisor Wednesday to get his thoughts on it....

                          I will try to make this concise the best I can...basically the world has been enslaved by the globalist/central bank system for over a century (the Fed was created in 1913)....now the central bank currency only lasts for so long and they need a major event (a war) as a cover to usher in a new one...in the 70s after Vietnam we went from gold to the dollar for example....now the curveball with this one is they didn’t expect Trump to not only win but be anti war...so they had to use Covid as a plan B but Covid is much harder to justify ushering in a new economy than a catastrophic war would have been....so Trump basically exposed the globalists plan and forced them out of the shadows to push their Great Reset crap...

                          Point being, I think some combination of gold, silver, and bitcoin will be the future and destroy the Fed...it will be blockchained or some other type of secure where the globalists can’t touch it...when the Fed starts raising interest rates get ready...that means they are about to bring down the economy....

                          This last part is for the political forum but as far as your taxes comment, I was mainly referring to Trump’s statement of abolishing the income tax....he gave us a taste of how great the economy could be with just a few tweaks but mainly getting out of the globalist/central bank illusion....I don’t think Trump is done by a long shot but that can be for another time and place
                           
                          • UFHealthGator

                            UFHealthGator Well-Known Member
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                            This is a pretty good video for people looking to enter into Bitcoin. I don't day trade, just long term invest and find it to be a good summary for those with long term mindset.

                             
                            #140 UFHealthGator, Mar 15, 2021
                            Last edited: Mar 15, 2021

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