An Overview of Bitcoin

- No real backing
- Your choice of coin may become less popular
- Chances of the so called exchange going down overnight as compared to a major country currency going down overnight to pittance
- NO yield
- NO FDIC or similar assurance
- Very volatile
- poor acceptance around small places ( everybody recognizes $ from Timbktu to Thursday Islands)
 
"traderjo, post:
- No real backing - backed and secured by the highest computing power in the world
- Your choice of coin may become less popular
- Chances of the so called exchange going down overnight as compared to a major country currency going down overnight to pittance - What effect did the Lehman bankruptcy have on the worldwide financial system?
- NO yield - not a company however, you get free fork coins so it's like a dividend of sort :D /s
- NO FDIC or similar assurance - decentralized
- Very volatile
- poor acceptance around small places ( everybody recognizes $ from Timbktu to Thursday Islands) You'd be surprised to learn how usable bitcoin in places around the world, but for now just keep telling yourself this

Why oh why I didn't respond to your list earlier. My OCD is bothering me. :banghead:
 
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johnarb said:
"traderjo, post:
- No real backing - backed and secured by the highest computing power in the world, That is no solace! a vague term! backing mean a govt of major OECD country with real assets!
- Your choice of coin may become less popular -? What are the chances of USD/GBP/AUD becoming less popular to a extent that it is not in circulation
- Chances of the so called exchange going down overnight as compared to a major country currency going down overnight to pittance - What effect did the Lehman bankruptcy have on the worldwide financial system? Not apples to Apples, Compare BTC with USD/AUD/GBP etc Lehaman was 1 financial company not a major currency
- NO yield - not a company however, you get free fork coins so it's like a dividend of sort :D /s Is that guaranteed at the start? like a term deposit/ bond? NO
- NO FDIC or similar assurance - decentralized SO? NO insurance how can you say ignore that ?
- Very volatile- Silence on your side? specially you sya it is a good thing as an"Investment" long term
- poor acceptance around small places ( everybody recognizes $ from Timbktu to Thursday Islands) You'd be surprised to learn how usable bitcoin in places around the world, but for now just keep telling yourself this.. sure when xxx hits the fan lets see where people will store their Wealth!

I think no matter what you are not going to accept some negatives about this and keep giving tangential answers... becasue it is your livelihood or you are religious convert to this thing rather than having a open mind, on that note I will ignore your next answer, just to clarify one last time
- I am not against the technology
- I can see the potential for trading only at this stage
- Accept the portability
More...
 
Hedge Funds Go Bullish on Bitcoin Futures
Most recent CFTC report showed leveraged funds with 1,142 long positions in bitcoin futures, more than double the 518 short positions they held
By Alexander Osipovich
Jan. 26, 2018 5:49 p.m. ET
7 COMMENTS
Hedge funds have swung their bitcoin-futures bets to the bullish side for the first time, a marked turn around from a few weeks ago, according to figures released on Friday.
The data from the Commodity Futures Trading Commission suggests a shift in sentiment among so-called “leveraged funds,” a category that includes hedge funds. Ever since late December, when the CFTC began publishing weekly reports on the new bitcoin-futures market run by Cboe Global Markets Inc., CBOE 1.10% data had shown that these funds were bearish on bitcoin, unlike smaller investors who are overwhelmingly bullish...
That data was current as of Tuesday, Jan. 23, although it was only released Friday. By comparison, as of Dec. 26, hedge funds’ short positions in Cboe bitcoin futures outnumbered their long positions by more than 4 to 1, CFTC data show.
 
This gives a perfect description of bitcoin, so I will share it with you guys, from Reddit:

"Commodity material is a tangible thing with tangible applications.

Shares of a company are less tangible than commodity but still result a sliver of ownership of a company and are redeemable for something in the result of a bankruptcy.

Bitcoin is...... nothing. It's a fugazie. It's poof. It's air. Its the dingleberry on my asshole. It's not redeemable for shit.

You feel me blood?"
 
My wife thinks its pretend money and she does not understand why people are using real money to buy pretend money you cant use to buy groceries or pay bills etc..
 
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