What will bitcoin bring in the end?

The initially idea of bitcoin was to create a currency that is not under the control of the central bank, with a limited supply, where no government nor central bank can simply print as much as they want to. It was meant to be an alternative currency to replace the fiat currency that the world is currently using. A currency that can truly store one’s wealth.

And the desire for such currency has grew stronger with each financial crisis that the world faces.

But looking today, is bitcoin still able to be that currency that it is initially design to be? A currency for fair exchange and a currency that can store one’s wealth?
I fear not. As now bitcoin has simply been used for the very purpose of “value stealing”. It has become a tool of investment, a gamble that a bigger fool will be willing to pay a much higher price for the bitcoin in the near future. A bubble has been created.

People are holding on to the bitcoin simple to trade it off at a higher price rather than using the bitcoin for daily transactions.

The sad thing is that it has not been given enough time, supports and opportunities to truly evolve into a replacement currency for the fiat currency.

Bitcoin do has the potential to be a currency that can unite all currencies of the world into a currency with no boundary nor nationality.

Yet the greed, stupidity and power hunger of the “value stealers” have corrupted it into a time bomb of sins and unfairness. Waiting to be exploded, where the last persons to hold on to these bitcoin will be the one who shall suffer a major lost in their wealth, while the “value stealers” benefit from it. It has basically become a game of musical chair waiting for the music to be stopped.

Has there been a united efforts of the world’s government to make it into a currency simple for fair exchange in purchases; and has there not been so much speculation (which the “value stealers” has inserted so much “fake values” into the currency), bitcoin could have change the world.

Now with so much “fake values” into the bitcoin, the noble idea of its creation has been contaminated. And once the holders realised that the bitcoin have less worth than they though it has, all the “fake values” in the bitcoin will evaporate into emptiness. Bring about a catastrophe crash that could make the society loss hope in all cryptocurrency.

Bitcoin has become a noble cause that is just waiting to fail. Will there be any other way to save bitcoin? I guess not, as governments will not willing to lose their control in their countries monetary policy.

I believe that the only currency that can truly obtain fairness in the exchange of transactions can only be the currency created through the value based monetary system under the Purification Social Order.

https://www.youtube.com/watch?v=Tk_IVZjCFeE

Short comic of the purification social order

I got half way through the "comic", and it's nothing I would be interested in. Every economic system has to account for inefficiencies, theft, shrinkage, breakage, and acts of God. There is not way to do that in the purely communal system. But to be fair to you we are heading that way with Amazon to a certain degree.

And "bitcoin" and it derivatives are a Ponzi scheme heading for a hard landing.

Welcome to DP. You'll have plenty of people to convince! Gotta shake this place up a bit!

It has been long since Bitcoin is likely to be the biggest bobble ever in history.

The very same people who are advocating and propagating Bitcoin as freedom financial solution, are the ones becoming super wealthy by its bubble. Since the beginning Bitcoin has been used by "adventurous speculators capitalists" to accumulate wealthy by hipper valuating it. First by all these people who keep doing seminars in companies and internet to convince every one to buy bitcoin because its rise in value, and than the speculative trending market which is one of the main problems of society today.

On the other hand there are several other electronic currencies, like Ripple which seems that the financial system will accept as currencies for their transactions and their customers transactions. You can't do anonymous transaction but it can not be regulated or printed by anybody else. Bitcoin is still being mined and nobody knows how much is still there to be mined. Ripple there is no mining but all that exist is already in circulation and will be ever the same.

I have used bitcoin for years as a means of exchange with nothing but success. It is a great way to pay for things online without risking identity theft. It is like cash for the internet. But I would never use it to store wealth. It is WAY too volatile.

Those of us who just use it as a means of exchange rather than holding on to it will largely be unaffected when the inevitable crash occurs. People like me will still be using it even it falls to $10. Investors, however, better be careful.

my guess is that the bitcoin bubble will pop and then inflate again. it's an ideal currency for illegal transactions online, though, so that will probably contribute to its staying power.

Helix said:

my guess is that the bitcoin bubble will pop and then inflate again. it's an ideal currency for illegal transactions online, though, so that will probably contribute to its staying power.

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Agreed. But there are also a lot of large legit companies that accept it as well like Microsoft, Dell, and Expedia. It is great for paying your web host or VPN service. I would say about 10% of my own company’s payments come in via bitcoin. If your business uses a bitcoin processor like Coinbase, which instantly converts the received bitcoin into USD, the exchange rate volatility really doesn’t matter much.

And yeah, I may or may not have used it to buy weed from time to time in the past.

That is funny because I learned this week that the stock market was created by the liberals in order to give the work class the financial power to store wealth, and it went wrong on the way, meybe just like Bitcoin tendency.

Skeptic Bob said:

Agreed. But there are also a lot of large legit companies that accept it as well like Microsoft, Dell, and Expedia. It is great for paying your web host or VPN service. I would say about 10% of my own company’s payments come in via bitcoin. If your business uses a bitcoin processor like Coinbase, which instantly converts the received bitcoin into USD, the exchange rate volatility really doesn’t matter much.

And yeah, I may or may not have used it to buy weed from time to time in the past.

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I fail to see the diference between pay with bitcoin and Euro. I have no problem purchasing online with Euro and I don't see the reason to use an other currency.

C R O I X said:

I fail to see the diference between pay with bitcoin and Euro. I have no problem purchasing online with Euro and I don't see the reason to use an other currency.

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Just depends on your needs. Some people don’t like the risk of identity theft that goes with using credit cards or debit cards online. Some people want to buy things that are legal but perhaps embarrassing. For merchants it is nice because you can’t get ripped off by the client doing a “charge back” after they receive the purchase. Merchants can also get the cash in their bank account quicker with BTC than with credit cards. I work in the private intelligence sector and find crypto currencies very useful in protecting the identities of clients and sources overseas in some of the less democratic countries. And if you have family overseas you send money to it is 10 times easier and less hassle than Moneygram and there is no monthly cap.

All that said, most people have no need for crypto currencies like bitcoin. But there is a subset of the population, including me, who do have legal use for it.

@ Post #1:



Okay, to begin let me say this, as it was a learning lesson for me. If you fail to learn from it then that is your problem and your choice. Many years ago in college I had a math teacher who is a mathematician who told the class that he and other teachers that were involved in math, got banned from the local newspaper building in my city. They got banned because they went over to that building and confronted them about errors or straight out lies they were telling local Americans in the city about the housing market. The newspaper claimed it was healthy and fantastic. My math teacher and others had gone through the numbers and found otherwise. In other words they knew they housing market with its subprime loans was about to collapse before it did in the USA.

After getting banned they discovered that our local newspaper is owned (or is it part owned? which ever) by some corporation deep into real estate. So, the paper (mainstream American news) had an incentive to lie to Americans and screw them up the butt.





Now, this takes me to Bitcoin. If you were smart you would have been watching Russia Today news years ago rather than listening to the CIA, American oligarch, backed mainstream news. Particularly if you were being strangled by American banks and the US Government with student loan debt. The American mainstream news is propaganda and nothing but liars. Therefore, mainstream news would have told an American being strangled by debt to not buy into Bitcoin when it was going for $3 per coin because never would that coin reach value of $40 or $100 let alone $600. They would then tell you not to listen to RT because its all lies and propaganda.

But Max Keiser on RT was advising Americans to buy Bitcoin when it was selling for $3 a coin and telling them one day each coin would be selling for $100,000 (US dollars). He was not the only one telling Americans this. Some of the biggest tech minds behind the creation of Facebook were telling Americans this. The bankers and the CIA lapdogs in mainstream media were telling Americans the opposite.

If a young American had a student loan debt of say $100,000 and they bought 1,000 Bitcoins back when it was $3 a coin, and they held until it reached $15,000 as it already did when it went over $19,000 per coin, said person would have had $15 million dollars. Their $100,000 student loan would have been paid off.

There are over 7 billion people on planet earth and over 300 million people in the USA alone. There can and will only ever be a total of 21 million [whole] Bitcoins. So how the hell exactly was 21 million Bitcoins ever supposed to be used like regular US dollars? There is something like over 7 trillion US dollars I think floating around on planet earth. And 300 million is far greater than 21 million.

But here is how 21 million Bitcoins was and will be used as currency like the US dollar (it already is via shift debit cards for example). The 21 million number is deceptive. US currency uses 2 decimal places to the left of the decimal point. Bitcoin uses 8 decimal points to the left of the decimal point. This means there are more Bitcoins--in a certain sense--than the 21 million. The volatility then will only settle once all or near all of the 21 million Bitcoins are mined like all gold being mined. So, a Bitcoin can be thought of as a bar of gold. Tiny pieces cut off will have purchasing power, particularly if all gold were already mined out of the earth, and the real rich cats would be the ones that got the whole bars early in the game.

Most early math heads and tech geeks in the very early days of Bitcoin back when it was going for $0.10 in year 2010 already knew this. Not all of them knew it but many did and they bought and held--because they understood the concept of the creation of Bitcoin well.

These two vids below took place 4 years ago and Max Keiser on RT was telling Americans to buy Bitcoin even when it was roughly $40 dollars (but he had advised earlier than that when it was only $3 a coin, he got in at $3 a coin, and he used to work on Wall Street).

breakingtheset
Published on Mar 7, 2013

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Before the 1:08 mark of the video below he is telling Americans in the English language (not Russian or Japanese) to that Bitcoin will eventually reach $100,000 a coin. And that was 4 years ago he said that back when it was what... $40 a coin.

RT
Published on Mar 9, 2013

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FastPace said:

@ Post #1:



Okay, to begin let me say this, as it was a learning lesson for me. If you fail to learn from it then that is your problem and your choice. Many years ago in college I had a math teacher who is a mathematician who told the class that he and other teachers that were involved in math, got banned from the local newspaper building in my city. They got banned because they went over to that building and confronted them about errors or straight out lies they were telling local Americans in the city about the housing market. The newspaper claimed it was healthy and fantastic. My math teacher and others had gone through the numbers and found otherwise. In other words they knew they housing market with its subprime loans was about to collapse before it did in the USA.

After getting banned they discovered that our local newspaper is owned (or is it part owned? which ever) by some corporation deep into real estate. So, the paper (mainstream American news) had an incentive to lie to Americans and screw them up the butt.





Now, this takes me to Bitcoin. If you were smart you would have been watching Russia Today news years ago rather than listening to the CIA, American oligarch, backed mainstream news. Particularly if you were being strangled by American banks and the US Government with student loan debt. The American mainstream news is propaganda and nothing but liars. Therefore, mainstream news would have told an American being strangled by debt to not buy into Bitcoin when it was going for $3 per coin because never would that coin reach value of $40 or $100 let alone $600. They would then tell you not to listen to RT because its all lies and propaganda.

But Max Keiser on RT was advising Americans to buy Bitcoin when it was selling for $3 a coin and telling them one day each coin would be selling for $100,000 (US dollars). He was not the only one telling Americans this. Some of the biggest tech minds behind the creation of Facebook were telling Americans this. The bankers and the CIA lapdogs in mainstream media were telling Americans the opposite.

If a young American had a student loan debt of say $100,000 and they bought 1,000 Bitcoins back when it was $3 a coin, and they held until it reached $15,000 as it already did when it went over $19,000 per coin, said person would have had $15 million dollars. Their $100,000 student loan would have been paid off.

There are over 7 billion people on planet earth and over 300 million people in the USA alone. There can and will only ever be a total of 21 million [whole] Bitcoins. So how the hell exactly was 21 million Bitcoins ever supposed to be used like regular US dollars? There is something like over 7 trillion US dollars I think floating around on planet earth. And 300 million is far greater than 21 million.

But here is how 21 million Bitcoins was and will be used as currency like the US dollar (it already is via shift debit cards for example). The 21 million number is deceptive. US currency uses 2 decimal places to the left of the decimal point. Bitcoin uses 8 decimal points to the left of the decimal point. This means there are more Bitcoins--in a certain sense--than the 21 million. The volatility then will only settle once all or near all of the 21 million Bitcoins are mined like all gold being mined. So, a Bitcoin can be thought of as a bar of gold. Tiny pieces cut off will have purchasing power, particularly if all gold were already mined out of the earth, and the real rich cats would be the ones that got the whole bars early in the game.

Most early math heads and tech geeks in the very early days of Bitcoin back when it was going for $0.10 in year 2010 already knew this. Not all of them knew it but many did and they bought and held--because they understood the concept of the creation of Bitcoin well.

These two vids below took place 4 years ago and Max Keiser on RT was telling Americans to buy Bitcoin even when it was roughly $40 dollars (but he had advised earlier than that when it was only $3 a coin, he got in at $3 a coin, and he used to work on Wall Street).








Before the 1:08 mark of the video below he is telling Americans in the English language (not Russian or Japanese) to that Bitcoin will eventually reach $100,000 a coin. And that was 4 years ago he said that back when it was what... $40 a coin.

Click to expand...

The only reason that i ever watch RT news is to see what propaganda that Putin is pushing.

FreedomFromAll said:

The only reason that i ever watch RT news is to see what propaganda that Putin is pushing.

Click to expand...

So, Putin was telling Americans to buy Bitcoin even when it had risen far beyond $3 per coin to say... [round] $50 per coin because if an American burdened with huge college loan debt did (buy in at $50 per coin) they could eventually pay off their student loan debt with their Bitcoin investment, as Putin (according to you) was through RT tricking Americans into believing a single Bitcoin would eventually cost $13,000 (US dollars)?

So, if you are correct then Bitcoin never say... rose to $13,000 ever.

I say $13,000 because if a young American carried $100,000 in college debt, and they purchased Bitcoin when it was selling at $50 per coin, all they would have needed was to buy 8 Bitcoins for a sum of $400 and a few years down the line in year 2017 when Bitcoin reached $13,000 they could have would have in effect had $104,000 and could have basically paid off their student loan. In other words they would have become more free. As freedom today is really an economic thing. The more money you have and less debit you have then the more choices you have (say... a choice to vacation in France or a choice to buy X car). And the more choices you have then the more free you are. Isn't that why neuroscientist claim "free will" is an illusion, because they physical brain is architecturally finite, and the choices an individual can make is therefore finite rather than infinite, so they claim free will does not exist but thoughts and behaviors, or that is to say choices are deterministic. Likewise, they and homo-feminist Democrats and Republicans claim homosexuals and pre-op transsexuals like Caitlyn Jenner are not free to act any other way than they do because they lack choice, and choice is essential to freedom.

So, it logically follows from you that Putin was trying to enable young Americans with greater freedom, and the US Government was trying to reduce young Americans freedom.




Math is not predicated on womanish emotional hysteria by the way. It is an objective fact that 8 Bitcoins bought for $50 each and then later rising in value to $13,000 each, would equal $104,000. And subtracting $400 that leaves a profit of $103,600 before any fees are applied.

(Putin had nothing to do with Max Keiser promoting Bitcoin. And it is evident from many Americans statements about Putin that said American never had and leadership position, not even as an E-4 in the military, because even as an E-4 with a handful of men said NCO could never micromanage with success the way you people claim. The large the organization and the larger the body count the greater the need to delegate authority. Putin would nearly have to be an incarnate God to do all you order taking Americans [that have never held a position of leadership in your life] think he does. However, Putin may be open minded to embracing cryptocurrency--the Russian Government I believe has stated they are open minded into researching what is any potential it has for Russian Government use.)



Oh look... The Inspector General of the United States Postal Service has issued a paper on blockchain technology and has a pdf version in the link of the link: https://www.uspsoig.gov/document/blockchain-technology-possibilities-us-postal-service/

Blockchain Technology: Possibilities for the U.S. Postal Service

May 23, 2016 (RARC-WP-16-011)


Major companies, such as Citibank and Australia Post, are beginning to research and experiment with this technology in order to provide new and more efficient services.

The Postal Service could benefit from use of this technology – particularly regarding financial services, identity services, supply chain management, and device management – and should consider exploring and experimenting with it.

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Wait... that paper can't possibly claim rich oligarchs in Citibank are conducting research into blockchain technology to help enrich themselves (all the while mainstream US media tries create doubt in American serfs minds about this tech)?

FastPace said:

So, Putin was telling Americans to buy Bitcoin even when it had risen far beyond $3 per coin to say... [round] $50 per coin because if an American burdened with huge college loan debt did (buy in at $50 per coin) they could eventually pay off their student loan debt with their Bitcoin investment, as Putin (according to you) was through RT tricking Americans into believing a single Bitcoin would eventually cost $13,000 (US dollars)?

[.....]


Oh look... The Inspector General of the United States Postal Service has issued a paper on blockchain technology and has a pdf version in the link of the link: https://www.uspsoig.gov/document/blockchain-technology-possibilities-us-postal-service/



Wait... that paper can't possibly claim rich oligarchs in Citibank are conducting research into blockchain technology to help enrich themselves (all the while mainstream US media tries create doubt in American serfs minds about this tech)?

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That is if your wallet didnt get hacked. No college is going to take cryptocurrency, so the value of cryptocurrency depends on being able to sell it for actual money.


Russian propaganda is a fickle thing.

Just try selling your bitcoin: Cryptocurrency pioneer warns against 'extremely risky' investment
Investors won't dump gold for bitcoin – Goldman Sachs
Russia-China real gold standard means end of US dollar dominance
Russia & China will engineer bitcoin apocalypse, Saxo Bank predicts
Creator of Russia's biggest financial pyramid linked to 50 suicides joins the crypto-craze
Bitcoin only good for tech nerds, privacy nuts & criminals – ING analyst
Insider trading probe leads to crash of bitcoin cash
Sneaky cryptocurrency mining malware Loapi can literally melt your phone
Bitcoin heading to $0.00 & many will lose everything when bubble pops – warns investor Peter Schiff


Putin is a manipulative piece of **** and I will smoke a bowl and think about him after he gets his stupid ass assassinated.

The only real cryptocurrency that we actually can trust seems to be Ripple. Much better than Bitcoin in many way but not for anonymity since it was developed to be used by the financial system. Seems to be the first and perhaps the only cryptocurrency that banks, creditcard companies and the most business (if not all business eventually) will accept.

C R O I X said:

The only real cryptocurrency that we actually can trust seems to be Ripple. Much better than Bitcoin in many way but not for anonymity since it was developed to be used by the financial system. Seems to be the first and perhaps the only cryptocurrency that banks, creditcard companies and the most business (if not all business eventually) will accept.

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Nevermind the fact that it's far more scalable than Bitcoin, with a transaction speed and cost that will remain consistently fast and low no matter how popular it gets. It's pretty much the only crypto I now have anything close to a significant position in after phasing out my BTC during the bubble.

FreedomFromAll said:

That is if your wallet didnt get hacked. No college is going to take cryptocurrency, so the value of cryptocurrency depends on being able to sell it for actual money.


Russian propaganda is a fickle thing.

Putin is a manipulative piece of **** and I will smoke a bowl and think about him after he gets his stupid ass assassinated.

Click to expand...

I'd caution against citing Peter Schiff even though I think BTC is presently overheated; the man is a shameless gold bug clown, and his eternal bear calls in relation to BTC are motivated primarily by his perception of it as a competitor for risk hedging with gold (which he of course sells), not out of any legitimate concern or sober/impartial analysis. The dude's track record is horrible, and I wouldn't trust him to manage a nickle.

A BUBBLE, that's what it will bring in the end.
The only reason bitcoin value is skyrocketing is because demand is skyrocketing, and that's because a large number of insecure people think
it's the next big thing, and that's how bubbles work.
But all bubbles inevitably collapse when there is nothing behind them but empty demand.
Bitcoin is just another bubble.

And there's this issue, which hit Bitcoin early on but which continues apace with each new crypto-currency that hits the street.
See, it's not just that Bitcoin is a bubble, it's that all crypto-currencies are a bubble.

Hijacking computers to mine cryptocurrency is all the rage - Business Insider

Checkerboard Strangler said:

A BUBBLE, that's what it will bring in the end.
The only reason bitcoin value is skyrocketing is because demand is skyrocketing, and that's because a large number of insecure people think
it's the next big thing, and that's how bubbles work.
But all bubbles inevitably collapse when there is nothing behind them but empty demand.
Bitcoin is just another bubble.

Click to expand...

You are almost certainly right about the bubble, but there is a certain probability that it will continue on up, because there is a very real demand for an anonymous store of value for everyone and their dogs in many countries. For that you need much more volume than bitcoin yet supplies. But the feel is that the move has been too quick and the market too frothy to continue without eighty or so percent correction. It is also unclear that the winner will be bitcoin and not another currency or currencies.

joG said:

You are almost certainly right about the bubble, but there is a certain probability that it will continue on up, because there is a very real demand for an anonymous store of value for everyone and their dogs in many countries. For that you need much more volume than bitcoin yet supplies. But the feel is that the move has been too quick and the market too frothy to continue without eighty or so percent correction. It is also unclear that the winner will be bitcoin and not another currency or currencies.

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I don't know if the weight loss analogy is appropriate.
What do you think?
People who manage to drop an enormous amount of weight with startling speed almost always wind up putting back on even more weight even faster, n'est-ce pas?

C R O I X said:

The only real cryptocurrency that we actually can trust seems to be Ripple. Much better than Bitcoin in many way but not for anonymity since it was developed to be used by the financial system. Seems to be the first and perhaps the only cryptocurrency that banks, creditcard companies and the most business (if not all business eventually) will accept.

Click to expand...

I’m not familiar with Ripple. If it doesn’t provide anonymity then what advantage does it provide over using credit cards or debit cards?

FreedomFromAll said:

That is if your wallet didnt get hacked. No college is going to take cryptocurrency, so the value of cryptocurrency depends on being able to sell it for actual money.

Click to expand...

One simply converts their Bitcoins to their local currency--kind of like Special Drawing Rights. What matters to me is reality, as in have people right now gotten rich off of Bitcoin?

Unlike you I am emotionally detached from Bitcoin. Disclosure: I have a fraction of Bitcoin, only because I use it to buy Altcoins. Nota Bene: I have not advocated for anyone to buy Bitcoin or Altcoins nor have I disclosed exactly what Altcoins I have.

My argument was simple. Anyone with an average IQ that ever took logic-- or understands basic math--should have had no problem having understood it. If, then which is used in logic.

If one had bought 8 Bitcoins back when they were sold for $50 then they would have $104,000 if they cashed out when Bitcoin was at $13,000 each (8 x 13,000 = 104,000). And if their student loan debit was $100,000 they basically could pay off that debit.

Pretty simple. Math has no emotions. Math does not care if a person is womanishly hysterical over Putin. Math is math.

Russian propaganda is a fickle thing.

Just try selling your bitcoin: Cryptocurrency pioneer warns against 'extremely risky' investment
Investors won't dump gold for bitcoin – Goldman Sachs
Russia-China real gold standard means end of US dollar dominance
Russia & China will engineer bitcoin apocalypse, Saxo Bank predicts
Creator of Russia's biggest financial pyramid linked to 50 suicides joins the crypto-craze
Bitcoin only good for tech nerds, privacy nuts & criminals – ING analyst
Insider trading probe leads to crash of bitcoin cash
Sneaky cryptocurrency mining malware Loapi can literally melt your phone
Bitcoin heading to $0.00 & many will lose everything when bubble pops – warns investor Peter Schiff

Click to expand...

Had one listened to Max Keiser on RT they would be a millionaire or multimillionaire today. Listening to mainstream US media leaves one an indebted serf. What is also amazing about you people emotionally invested in hating Bitcoin is that in your little brains you some how think if you make $2 million off of Bitcoin you can only keep your money and investment only in Bitcoin. As if you can't buy real estate or gold (or different Altcoins) or simply put cash away. Ridiculous.

Putin is a manipulative piece of **** and I will smoke a bowl and think about him after he gets his stupid ass assassinated.

Click to expand...

Putin had nothing to do with Bitcoin and many Americans and Chinese and others around the world adopting it. You are out there like an emotionally hysterical woman that has no grasp on reason. I would worry less about Putin and worry more about how American bankers and the US Government are manipulating the lives of young Americans by putting nooses around their necks with mass student loan debts, rather than worrying about some guy in Russia you never met and who has no control over the United States or its arrangements with student loans.

Lionsun6 said:

What will bitcoin bring in the end?

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The end of the banking industry maybe?? If everyone uses bitcoins they might not need a banking account anymore, and if/when the banks have no more money in their accounts they cant lend money anymore either, which would be the end for them

FastPace said:

One simply converts their Bitcoins to their local currency--kind of like Special Drawing Rights. What matters to me is reality, as in have people right now gotten rich off of Bitcoin?

Unlike you I am emotionally detached from Bitcoin. Disclosure: I have a fraction of Bitcoin, only because I use it to buy Altcoins. Nota Bene: I have not advocated for anyone to buy Bitcoin or Altcoins nor have I disclosed exactly what Altcoins I have.

My argument was simple. Anyone with an average IQ that ever took logic-- or understands basic math--should have had no problem having understood it. If, then which is used in logic.

If one had bought 8 Bitcoins back when they were sold for $50 then they would have $104,000 if they cashed out when Bitcoin was at $13,000 each (8 x 13,000 = 104,000). And if their student loan debit was $100,000 they basically could pay off that debit.

Pretty simple. Math has no emotions. Math does not care if a person is womanishly hysterical over Putin. Math is math.




Had one listened to Max Keiser on RT they would be a millionaire or multimillionaire today. Listening to mainstream US media leaves one an indebted serf. What is also amazing about you people emotionally invested in hating Bitcoin is that in your little brains you some how think if you make $2 million off of Bitcoin you can only keep your money and investment only in Bitcoin. As if you can't buy real estate or gold (or different Altcoins) or simply put cash away. Ridiculous.





Putin had nothing to do with Bitcoin and many Americans and Chinese and others around the world adopting it. You are out there like an emotionally hysterical woman that has no grasp on reason. I would worry less about Putin and worry more about how American bankers and the US Government are manipulating the lives of young Americans by putting nooses around their necks with mass student loan debts, rather than worrying about some guy in Russia you never met and who has no control over the United States or its arrangements with student loans.

Click to expand...

Cryptocurrency is a fad. The artificial bubble is the idiots that have been suckered into believing that cryptocurrency is legit. Being that cryptocurrency is a form of currency the US federal government has right to regulate it or ban it altogether. All that math that you are doing is going to be worthless. I am sure that it didnt occur to you that cryptocurrency could be weaponized? Oh wait you are trying to use RT news as a source.

FreedomFromAll said:

Cryptocurrency is a fad. The artificial bubble is the idiots that have been suckered into believing that cryptocurrency is legit. Being that cryptocurrency is a form of currency the US federal government has right to regulate it or ban it altogether. All that math that you are doing is going to be worthless. I am sure that it didnt occur to you that cryptocurrency could be weaponized? Oh wait you are trying to use RT news as a source.

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In 2014 the government, through the IRS, ruled that bitcoin and other “virtual currencies” would be treated as property and not currency.

A: I am afraid that the answer is that the this ends with the Chinese winning the Q on a free internet.

The ANSWER IS: It is too dangerous to be allowed to exist.

Coming to DP and talking freely is Dead Man Walking.

MERRY CHRISTMAS ALL!

IT BEEN FUN!