This is for Bitpay, but there are other payment processors out there, Coinbase being a big one, as well. I paid $10K for airfare tickets and Coinbase was the merchant checkout (last week).
https://blog.bitpay.com/bitpay-growth-2017/
Bitcoin Top?
- Thread starter trademan1
- Start date
This is for Bitpay, but there are other payment processors out there, Coinbase being a big one, as well. I paid $10K for airfare tickets and Coinbase was the merchant checkout (last week).
https://blog.bitpay.com/bitpay-growth-2017/
But they are NOT USING IT AS CURRENCY! They want to trade it or hold it FOR PROFITS! That is not what it was made for!!!
It has simply failed as a currency and it is a trading commodity right now nothing less, nothing more.
By the way the US is proposing a law that makes you not declaring your crypto holdings a criminal offense.
I don’t know the statistics, but most people I know buy bitcoin to make money and not use it as a currency. But that makes sense as I don’t imagine it being used by a majority as a currency until the price stabilizes some. Until there is a better idea of its actual value. Once the price settles some.
If people think it still has a lot of upside and is worth a lot more then why would people use it as a currency? You would be leaving a lot of $ on the table.
Hence why it needs to stabilize around it’s actual value, which I don’t think we are close to knowing yet.
No - it's bad no matter what. Aren't you a good FUDster?
You can be sure that bitcoin isn't dependent on its growth from "young kids and middle aged women" and from another thread, kids in his daughters 4th grade class. Just from this thread, a financial adviser pleaded ignorant, and another guy said his broker is getting thousands of calls. Just this week I met with 4 friends, a non-profit CEO, a professional high end builder, a retired electrician, and a guy that runs a lawn mowing business. They are getting in and praying for a break in price. Two weeks ago I got a call from a friend who his a very successful Northwestern Mutual Agent wanting to have coffee because she heard from a mutual friend that I might know a little about Bitcoin.
For all these people who think this is a fad and is quickly going to zero have to remember that this is not "beanie babies" where every dept store has an isle full of them. Every Bitcoin in existence is already owned by someone and most of those have them stored in private wallets and are not for sale. They see their Bitcoins as a transferable store of wealth that has already been accepted as such world wide. I met with the NW agent on Nov 16th so a 50% drop from here just takes us back to that level.
I try to say this respectfully but I am amazed that most of ET do not see the opportunity here and are just being Bubble Heads when Bitcoin has not even entered the upward trajectory of its long term chart at these levels. The non proliferation into ET itself is an indication of how much further Bitcoin has to go. It has done what it has done with us nerds and geeks and is just now beginning to hit the stock and mutual fund group of investors.
Those four professions are not what I would call the "smart money". Actually the very type that I would expect to invest in a spec investment with no risk controls. Smart money defines and quantifies risk before committing capital.
I get what you are saying but the CEO has 3M and wants to buy 100K of Bitcoin as an uncorrelated asset as a balancing effect on his portfolio. Sounds like a smart move to me.
To add balance to a portfolio you add uncorrelated assets. No one knows how BTC interacts with any other asset class as of now. He is adding a speculative asset, which is fine, but do not read anything more into it.. example if spx drops 25 % will BTC ? it is not known yet.
See? here you go again in the 2nd thread with this food business.
What happened to your arguments? Oh,beside the price going up, you don't have one...