Bitcoin has topped.

[SunTrader]

Then so are Morgan, Fidelity, Goldie, BNY, V, MC etc etc etc.

 

[johnarb]

And let's look at that post...

View attachment 259321

And YOUR response...



Clearly, YOU are an evangelical snowflake on the topic!!

I'm looking at your response to Baron and are you claiming that you agree with Baron the government will not ban bitcoin and cryptos?

You need to be clear

 

[SunTrader]

BTW posted elsewhere recently (maybe here too?):-

 

[DiceAreCast]

Of course, anyone who thinks the US will allow unregulated cryptos and the criminal potential that comes with it is completely deluded. The US will issue a centralized digital currency that is 100% backed by the US dollar initially and then later by the same faith in the US government as fiat is. No other alternative currencies will be allowed. This is a total no-brainer, the only thing that surprises me is how slow the US is knowing full well it is head-on competing with the dragon in the East.

View attachment 259316

 

[themickey]

Of course, anyone who thinks the US will allow unregulated cryptos and the criminal potential that comes with it is completely deluded. The US will issue a centralized digital currency that is 100% backed by the US dollar initially and then later by the same faith in the US government as fiat is. No other alternative currencies will be allowed. This is a total no-brainer, the only thing that surprises me is how slow the US is knowing full well it is head-on competing with the dragon in the East.

Maybe US is clever, awaiting China system strategy and methods, then introduce a Western version which competes with better /safer features.

 

[Sprout]

Classic movie

 

[Sprout]

Of course, anyone who thinks the US will allow unregulated cryptos and the criminal potential that comes with it is completely deluded. The US will issue a centralized digital currency that is 100% backed by the US dollar initially and then later by the same faith in the US government as fiat is. No other alternative currencies will be allowed. This is a total no-brainer, the only thing that surprises me is how slow the US is knowing full well it is head-on competing with the dragon in the East.

Did you miss the part that crypto assets are defined by the IRS as property?

 

[SunTrader]

The US will ........ No other alternative allowed .........

Sounds like someone who has no-brainer inside knowledge or just no-brain.

 

[virtusa]

Did you miss the part that crypto assets are defined by the IRS as property?

It is not because it is defined as property that it will stay like that for ever. It was important for the IRS to find a (quick) way to tax the profits. The easiest way was to define it as property. The holders are proud as they think they have now "property", and the IRS is happy as all discussions about why and how it will be taxed are solved. No risk for procedures in Court.
If tomorrow the IRS would realize that it was a mistake, or that they found a better (read higher) way to tax it they will call it something else.

 

[Ed48]

To me Bitcoin is mostly a speculative phenomenon. I'm sure a lot of people who bought it just see it as a chance to get rich quick (and obviously many have). A bit like the lottery but with much better odds.

This may explain why price action is more like a penny stock than something with a market cap of $1 trillion.

I did consider buying some in early 2019, when it was $4k, but didn't go through with it. I try not to dwell on that.