Here are the world currencies flow into BTC in realtime.
http://fiatleak.com/
http://fiatleak.com/
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Should You Buy Bitcoin Right Now? Don’t Be Stupid
- Thread starter dealmaker
- Start date
Nearing $2500.....another risk free investment vehicle that only goes one way.....all the other cryptocurrencies are up hundreds and thousands of Percent...it seems no matter what cryptocurrency it is its only going up....so if you trade these and make thousands of dollars do lay capital gains on these profits?
You guys are missing the forest for the tree.
4B people in Asia, cultural money laundering and tax evasion issues, governments/countries/cultures with an authoritarian bent, fast money social culture, breakneck tech growth.
You guys are arguing about a tick in ES when the entire mkt is soaring higher. Forest for the tree.
Precisely..."they are just looking at XXX is going up a lot so it has to crash" logic...look at the wealth or market cap. AMZN going down 10% will destroy more wealth than bitcoin going to zero.
S2007S complains about healthcare cost etc. If you want to buy drugs illegally, guess what you need? Bitcoin. So how can Bitcoin go to zero? If people who need drugs have to buy bitcoin? I am talking about people without insurance with cancer etc.
How about a relative value argument? All the reasons why bitcoin is useless can be applied to gold. But, with bitcoin, I can send money across the globe.... no customs no stamp no wirefees no government controls. And with bitcoin, a cancer patient can buy drugs without meeting anyone in a shady area. So they should at least be equal in market cap -- bitcoin and gold.
That's -2% movement; c'mon now
I just keep replaying this tune over and over thismorning, such a good tune to get into a groove with the market, lol i tried to find it on shazam but no dice, wish i could. Great Post LOL!!
Max, bro, listen... It is very difficult to have a discussion with you because you have an idea that everyone who invested in bitcoin are children blinded by a mass delusion of Tulip Mania.
The Winklevoss twins are holding about $200 Million worth of bitcoins. There are others who hold more than that (not me). Just for a minute, consider that you are not smarter than all of the people with stake in the game? If you think you are, you need to put your money where your mouth is and open multiple accounts, Kraken, Poloniex, etc. and mortgage everything you have and short bitcoin over $2300 per bitcoin. Short half now, Keep adding until you've made million$ per your "guaranteed crash" a few posts back. It's not hard.
You are worried about someone with $200mn...how about Zuckerberg with 100x more? Can't you apply the same argument. Again if FB goes down 10$%...it is far easier and will hurt the same.
How about a relative value argument? All the reasons why bitcoin is useless can be applied to gold. But, with bitcoin, I can send money across the globe.... no customs no stamp no wirefees no government controls. And with bitcoin, a cancer patient can buy drugs without meeting anyone in a shady area. So they should at least be equal in market cap -- bitcoin and gold.
I gave two very specific uses of bitcoin that you cannot do with any other store of wealth. If you are still going with the argument that there is nothing backing bitcoin, you surely don't understand that nothing backs the US dollar as well.
And how much do those miners have/what kind of revenue do those miners provide, where it is going to back a currency when there is a crisis of confidence? What tangible assets are these people putting down? Do you not understand the problem?
What happens if someone just says "Sorry bro your bit coins are mine" Amzn has assetsd to go after if they screw you, with bitcoin There is no one to sue, no country, nothing, the first time one of these cryptocurrencies gets scammed peoplewill realize that. Do you think anyone with serious money would ever buy something like that, where they dont have legal recourse if you screw them?
You are not talking about one computer...you are talking about miners with more computing power than AMZN or GOOG. Yeah...they will all go offline overnight when people in China are desperate to mine more coins?