Bitcoin's 10 trillion dollar valuation is fast approaching

Economy & Finance
783

Don’t be too certain my friend… I am still waiting for my Eureka! moment to understand cryptos so I can plunge in. So far still no muse. :smile:

784

You are free to plunge in after the price crashed below a thousand. But I doubt you would be willing to do so after that happens.

785

Blockchain technology would stay, bitcoin unlikely for the following reason:

  1. Fixed amount that doesn’t grow with population. Implication is bitcoin would become more valuable relative to goods & services (assuming all currencies are gone) through time. This is not fair to future generation. Thought experiment: A SWE who earn 1 BTC pay 2 years ago, would earn 0.5 BTC now because BTC is more valuable. A house that is previously worth 1 BTCs 2 years ago would be worth 0.5 BTCs now because BTC is more valuable. The “now” guys can still buy 1 house with his pay but the guy 2 years ago can buy 2 houses.

  2. 16 million out of 21 million are already mined. Why would those who don’t have bitcoins want to let those who owned bitcoins be the rich guys? Gold guys won’t go down without a fight. To be fair, you need a new cryptocurrency that have a fixed exchange for all currencies in order for it to be the only global currency around. And we know all governments don’t want their currency to be controlled by other governments or worse no control. The government would lose control over the economy, trade and their nations!

Many more reasons but above two is enough :grinning:

2 Likes
786

15x leverage is already a thing in Japan.

https://www.ft.com/content/7f02cdba-dbd6-11e7-a039-c64b1c09b482

787

So after the price collapsed will these people be accountable to the 14x of the initial money they deposited to the exchange? Who’s going to chase after them for that money?

788

Inaccurate reporting. If you buy $15 of Bitcoin with $1, a 7% drop would wipe you out. Bitcoin can make multiple 10% swings in a day. Are those Japanese investors already losing all their investment?

789
1 Like
790

Futures has traded for 3 hours, Bitcoin did not crash. It could be on the way to all time highs this week

2 Likes
791

Make no mistake, any gain here would be short-lived.

792
793

Isn’t GBTC a Bitcoin ETF? Why do people say that there is no Bitcoin ETF?

“Unfortunately there is no bitcoin ETF as this time. That leaves us with bitcoin-related stocks.”

794

GBTC is pure bitcoin ETFs, but ARKW has also invested in GBTC.

GBTC is OTCMKTS, but not in Nasdaq or NYSE listed.

795

I was just thinking about doing such… :thinking:

1 Like
796

The real truth?

Some idiot said “but your don’t have skin in the game”. Well, question to him: did you sell your home to buy Bitcoin? No? Then, sthu.

Real investors invest, others, speculate but never invest. Which one are you?

http://www.msn.com/en-us/money/markets/people-are-taking-out-mortgages-to-buy-bitcoin-as-price-soars/ar-BBGC3rh?li=AA4Zjn&ocid=ientp

797

Investing is too hard… takes too long… I like to speculate and make the quick buck… really really quick!!! :grinning:

2 Likes
798

Bithoax was your chance. :joy:

799

Bitcoin futures surge more than 19% during first day of trading

800

Few more alternatives to make quick bucks.
a. Rob
b. Steal
c. Drug trafficking
d. Black market ops
e. Scam
f. Sell your soul
g. …

2 Likes
801

Then why did you dump your millions into bitcoin rather than doing any or all of the above? :rofl:

802

You can speculate on litecoin and get rich quickly. All legal. :joy:

No need to rob, steal or selling drugs. Litecoin is easy