Author Topic: Beware of Bitcoin, Central Banks Warn  (Read 3773 times)

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Offline r3globe

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Re: Beware of Bitcoin, Central Banks Warn
« Reply #15 on: November 30, 2017, 12:20:44 PM »
As far as price of bitcoin (and the 100’s of other cryptocurrency) everything screams a bubble. As far as blockchain technology, it is here to stay. I liken it to internet stocks in 2000, they crashed but internet has changed every aspect of our lives.

Offline ccl

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Re: Beware of Bitcoin, Central Banks Warn
« Reply #16 on: November 30, 2017, 02:45:25 PM »
Amazon was also called a bubble back then. There are some diamonds in the rough.

A money revolution, kind of a big deal.

I agree it's bubble-like right now!

Offline KeepOnTrying!

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Re: Beware of Bitcoin, Central Banks Warn
« Reply #17 on: November 30, 2017, 09:52:10 PM »
The stock market is also overdue for a correction; it is always looking for a good reason to swoon!
KeepOnTrying and Never Give Up!
That lion is also after you!

Online KeyDate1/2ozPandas

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Re: Beware of Bitcoin, Central Banks Warn
« Reply #18 on: November 30, 2017, 10:14:57 PM »
If you like gold then bitcoin is its younger sibling, the price of both are set by the market, both are mined and aren't backed by a central government, public company or private entity, they simply have value because people believe rarity has value (sounds like numismatic coins to me). Gold has $8.3 trillion market cap, bitcoin has $0.17 trillion dollar market cap, when bitcoin approaches gold's market cap its volatility will be very similar to gold.  99%+ of the gold traded today was in electronic contracts, not tangible metal. 

When dishwashers, taxi drivers and coin store dealers move into bitcoins and blockchain, it will be time to get out, we are not there.   Bitcoin is the main face of the industry, but it has many problems for the future, it will not be the ultimate winner similar to Netscape not being the ultimate browser/search, but it is an indication what the future of banking will look like.

Flashback for those forgot what it was like 22 years ago.
https://www.youtube.com/watch?v=95-yZ-31j9A


Online KeyDate1/2ozPandas

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Re: Beware of Bitcoin, Central Banks Warn
« Reply #19 on: November 30, 2017, 11:20:44 PM »
One more flashback, people don't like change.
https://www.youtube.com/watch?v=3H-Y-D3-j-M