Ether and bitcoin

[macdon02]

The problem with crypto is govt can say it's worthless at the drop of a hat. Stick with reserve is much safer

[FertaCloud]

One Bitcoin is worth $4180 USD right now


It's value is set like any other currency… it's in a huge bubble…

Agreed, huge bubble. If people were actually able to use bitcoins to buy everyday things i guess it would have value, but in the end if everyone is just turning it back into USD's, its worthless. Not to mention Bitcoin can be copied and soon every tom,dick, or harry will have their own "crypto" coin removing the scarcity idea.
Tulip mania all over again.

[taptout]

The problem with crypto is govt can say it's worthless at the drop of a hat. Stick with reserve is much safer

They can only drive it underground and
can only really control it by controlling the internet. Good luck with that.

[macdon02]

In case you haven't noticed most politicians are lawyers that believe they can deal with something simply by passing a law

[taptout]

In case you haven't noticed most politicians are lawyers that believe they can deal with something simply by passing a law

They are in for a rude awakening as the movie moguls thought that they could control the illegal showing of their movies through internet file sharing. It seems Hollywood couldn't beat the internet and I don't like the gov't chances either as as soon as they shut down a site in say Sweden, a new one popped up in Costa Rica or Slovenia.

[sumdumguy]

They can only drive it underground and
can only really control it by controlling the internet. Good luck with that.

How long would it take me to find someone who would accept it for payment on a new combine? Or TV? Or house?

[macdon02]

Article from January

The rally in bitcoin has come out of China, which has accounted for 98% of bitcoin trading in the past six months. China is also home to about two-thirds of the world’s bitcoin mining power. The Phase Transition spike in bitcoin is very alarming, for it flies right in the face of government attempts to eliminate currency. The Chinese have been buying bitcoin onshore, selling it offshore for another currency, and then moving the money to a bank account. This is how the Chinese individuals can take cash out of the country, circumventing all regulation.
The Chinese government has been strengthening requirements for citizens by converting their yuan. With Trump coming into office, China fears that lower values for the yuan will become a trade war even if the government is not actively trying to depreciate the yuan for trade. Conversions of yuan are already subject to a quota or currency controls in an effort to curb capital outflows.
Bitcoin has been the escape method for capital fleeing China. With the looming trade war on the horizon, the Chinese government will have absolutely NO CHOICE but to come in and regulate bitcoin as its citizens now account for 98% of all trading. From a regulatory perspective, the days of passive treatment of bitcoin may come to an end. Bitcoin has soared only because it has been the mechanism to obtain foreign exchange and take capital out of China. This could easily be considered an illegal operation, such as money laundering, to justify closing that window.
Of course, you have the zealots who preach bitcoin as the alternative to the dollar that they cannot shut down. All they need to do is declare bitcoins illegal and the PRESUMPTION of being in bitcoin is a PRESUMPTION of being a criminal. They are already using terms like “CASH IS FOR CRIMINALS” and if you have a few thousand in cash, they just confiscate it presuming you are criminal under Civil Asset Forfeiture without having to prove you committed a crime or charging you.
Keep in mind we are dancing with the devil. There are no rules — just ruthless self-interest. They will do whatever it takes to survive. They will not relinquish power willingly.

Now how much do you trust the Chinese govt? And are you willing to bet money on it. ALWAYS KNOW WHAT YOU ARE INVESTING IN!

[taptout]

How long would it take me to find someone who would accept it for payment on a new combine? Or TV? Or house?

Quite awhile. Crypto currency is about far more than a replacement for fiat currency. It may eventually replace dollars and yen but its most important function, right now, is as a secure method of moving money at the speed of light with an electronic footprint that can be traced and verified by all parties to the transaction. Block chain and distributed ledger are in their infancy and much like, after the invention of the telephone, when people were at a loss as to what it could be used for(some suggested that it could be used by telegraph operators to let the next operator know that there was a telegraph on the way) no-one anticipated personal telephone calls could become a reality just as the president of IBM remarked in 1960 that the future size of the computer market would be at most 6 to 10 units a year. I am not as brave as the 100s commentators that have pronounced crypto-currency dead over the last couple years....Bitcoin now there is a zombie entity that just keeps chugging ....kind of like the telephone and computer? Who knows?

[Faraam]

So, guys what do you think about ehtereum right now?! You were regretting the fact that you did not invest any penny in it back in 2017. Have you seen where it is nowadays in 2021? That is pure madness. Thankfully, I purchased ethereum back in 2016, and right now I have got more than 458.000 on my crypto wallet DD. Guys, don't lose this kind of opportunity, and if you want to https://uphold.com/en/assets/crypto/buy-btc buy Bitcoin, just do it! Trust me, it will never disappoint you. I actually think that crypto is the future, that is why I am so sure about it.

[sumdumguy]

Is that $458? What can you buy with your Ether? A feather?

[helmsdale]

Is that $458? What can you buy with your Ether? A feather?

Jesus, inflation is even going after ether... good thing I dont have any perkins engines around here anymore!