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  1. #11
    Retired 10,000+ Posts slimslob's Avatar
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    Re: Who is investing in Bit Coins-

    Quote Originally Posted by Astarta View Post
    I think it's some sort of a scam. Someone is going to make serious money on that, and I am not referring to people in this case. Because imagine, when you invest in something (mainly a business), you have to analyze the performance of that company and the possibility to hold that performance on a long-term base. On other hand, Bitcoin is super controvert, many countries are thinking about banning it due to the impossibility to control transactions. How to invest such sums of money in something that can be closed tomorrow? Better buy some stocks on investous.com and earn a bit of extra money, thank risk with crypto.
    The only scam that I associate with bit coin is ransom ware.

  2. #12
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    Who is investing in Bit Coins-


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    Re: Who is investing in Bit Coins-

    Quote Originally Posted by Astarta View Post
    I think it's some sort of a scam. Someone is going to make serious money on that, and I am not referring to people in this case. Because imagine, when you invest in something (mainly a business), you have to analyze the performance of that company and the possibility to hold that performance on a long-term base. On other hand, Bitcoin is super controvert, many countries are thinking about banning it due to the impossibility to control transactions. How to invest such sums of money in something that can be closed tomorrow? Better buy some stocks on investous.com and earn a bit of extra money, thank risk with crypto.
    Maybe there are ways I am not thinking about but I dont think the government could close down bitcoin if they wanted to. It does not originate in this country and You invest totally online. When doing my taxes there was a question if you invested in bitcoin. I think they are asking on the honor system. I am not sure that they could know if you had money in bitcoin or not.

  3. #13
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    Who is investing in Bit Coins-

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    Re: Who is investing in Bit Coins-

    I would, but there is a ethics problem I have that need to resolve firsy, for me. Which goes along for all asset class and our view on value.


    I earn wages for me in exchange for time to provide service. Wage is a human thing, since when can machine earn wages for who? That's first question

    And the bitcoin value has hyper increased, due to what? And if it's so volatile, and driven by interest and some odd algorithm hidden under the BS mountain?

    The value is dictated by belief of no sound foundation. Might as well be Beetlejuice and Santa Clause, if you believe it, it's real?



    I may as well put my poop on the market.

    It smells,it's Rare,decomposes quickly. Happens not so often...

    The idea is good, but in the wrong hands, everything is bad.
    Idling colour developers are not healthy developers.

  4. #14
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    Re: Who is investing in Bit Coins-

    Investing in bitcoins is very dangerous. Cryptocurrency is the most unstable currency in the world. It can make someone rich, and others turn into beggars. With the development of the Internet, there are many ways to make money; unfortunately, many are pretty risky. Recently I decided to do swing trading. Before I started trading, I was looking for information on forums and other resources. Many users recommended I read the information on this site http://timthomas.co to learn the best strategies. The strategies were invented a long time ago by professional economists, so I trust them.

  5. #15
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    Re: Who is investing in Bit Coins-

    Quote Originally Posted by Astarta View Post
    I think it's some sort of a scam. Someone is going to make serious money on that, and I am not referring to people in this case. Because imagine, when you invest in something (mainly a business), you have to analyze the performance of that company and the possibility to hold that performance on a long-term base. On other hand, Bitcoin is super controvert, many countries are thinking about banning it due to the impossibility to control transactions. How to invest such sums of money in something that can be closed tomorrow? Better buy some stocks or earn there a bit of extra money.
    Closed tomorrow? You kidding me? Do you have any idea of how BTC works?

  6. #16
    Retired 10,000+ Posts slimslob's Avatar
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    Re: Who is investing in Bit Coins-

    Quote Originally Posted by Simphony View Post
    Closed tomorrow? You kidding me? Do you have any idea of how BTC works?
    No but I do know how governments work. If your government bans bit coin transactions, you can keep what you have but should you try to make additional investments they can confiscate your entire portfolio.

  7. #17
    Printer firmware is !&$! 50+ Posts
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    Re: Who is investing in Bit Coins-

    Quote Originally Posted by slimslob View Post
    The only scam that I associate with bit coin is ransom ware.
    Ponzi Schemes
    Market manipulation
    etc


    To be honest, Cryptocurrency is a big scam, but then so is fiat. USA has a larger economy than China, yet China has a higher value of currency internally issued when looking at a dollar-renminbi trade off. That effectively means that although the physical assets and value of goods and services produced by the US is greater than China, China is technically richer than the USA.

    How is that? Its an example of china gaming our current fiat system. They take their currency and use to invest externally through private entities associated with the CCP. Western nations take their currency loan it internally for internal investment. This is the key difference. If you are investing internally its a closed system. If you use it to buy external assets, then you are gaining value from nothing. This is of course on a macro scale. In western nations the people that benefit from this system internally are those in the financial institutions, that literally get given money for knowing people. In a normal transaction Bank lends money to reputable investment company who makes wise investment decisions and thus through productive allocation of resources increases overall wealth of the nation. However, in modern transactions Bank lends money to several middlemen before it reaches said investment company, and all these middle men make money from doing nothing. Its a form of corruption. Both a private and public sector based corruption as the public and private sector are interlinked through bribes, nepotism etc.

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