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Should be avalible Q4, wonder what the volume and volitelity will look like, its going to be interesting to watch regardless.
http://www.zerohedge.com/news/2017-1...oin-futures-q4
Just read an article with Jordan Belfort talking about BTC and other Crypto Currencies and he said that those are a bigger scam than what he ever used to pull.
What's your opinions?
Never bought into the whole bitcoin crap to begin with.
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While the dollar is fiat and backed by nothing more than the good graces and inferred stability of the US govt, at least it has that. Bitcoin is a "currency" backed by nothing but the current market value. It does not have tangible presence, usefulness or value other than that ascribed by other people wanting it. With that in mind, bitcoin is very similar to a pyramid scheme. Investing in it is riding the bubble that currently exists. When it falls from favor, the price will tank, as it has before.
But..... there are a wide variety of "financial vehicles" that are not much different, but have been around a while, so are more accepted. I think the aspect that bothers me is that Bitcoin is pushed as a currency. But it is more of an investment like a security. You cannot really buy stuff with it and most people own it as an investment, not as a tool to transfer exchange value. Sure, there are some stores that will accept it, but probably more will accept gold for transaction, but we don't call gold a currency. Hell, I bet there is somewhere you can walk in with bearer bonds or other similar items and buy something with them. Doesn't make them currency, just has trade value.
Easier for the NSA to track than duffle bags of cash. Or steal from your account.
+1Quote:
Originally Posted by sigmanx
It seems the primary use of cryptocurrencies is untraceable payment for cryptolocker malware keys.
Does anybody want to buy any "carbon credits"?
I remember when the bitcoin value was 25 cents. I should have bought a $1000 worth. But then I read that some investors were wiped out by a hacker. I guess it is just like women, I don't understand them.
Few of people on this forum in the past did good on bit coin trade.
I personally do not do bitcoin litcoin currencies.
Eta: this is as starange as MBS.
Gonna be weird
The CME has been one big morass of corruption going back at least to when they let Corzine raid depositor accounts (at MF Global) to pay off debts to JP Morgan, even accounts with assets that MF Global had no claim to. Probably goes further back than that but I have had no interest (other than potential criminal prosecution) in the CME since the Corzine and MF Global.
Bitcoin shot up past $6600/BTC today. Freaking incredible.
Ethereum seems to be holding steady.
What intrinsic value do cryto-currencies have? Gold and Silver have historical value that even paper money just can't offer. When the power goes off, when the intra-web dies, how do you trade crypto BS for anything? When the issuing government for paper money goes TU, where's the value? Venezuela ring a bell? Paper money backed by even a large central bank (Euro, Yen, Dollar, Pound, etc) offer temporary security, but even then can be devalued rapidly. ( think German Marks in the 30's). Gold and Silver always have had value and always will.
I understand where Gold and Silver come from. I understand how to secure Gold and Silver. If you don't have the same understanding of your crypto shit, you are playing a game by someone else's rules on someone else's court. It is a suckers game.
If it was really bad the .gov would shut it down. Unless the .gov uses it too. You could smuggle a $100 million on a micro dot! Retire to a country where there is no extradition treaty. Where prostitution is legal! effing paradise...
Well now that it is listed at cme, I am sure bitcoin fanboys/hater can start buying call/put.
Then again, I have a feeling that people who bought bullets, beans, and asswipe will pretty much look at anyone with $1million in gold with the same "what a dumbass" expression. Gold is only useful in a society with some room for luxury.
Quote:
Originally Posted by 20X11
Nope, gold will always have intrinsic value. The value might go down if you remove the cosmetic reasons people buy gold but it has inherent chemical and physical properties that will always make it desirable for certain purposes.Quote:
Originally Posted by vectorsc
Evidently bitcoin is kind of a big thing in Venezuela because it's a much better choice than the worthless garbage currency printed by the government.
It can't be traced by them and it can be used to make purchases outside of Venezuela which are two huge advantages offered by a cryptocurrency in a situation where government has completely destroyed the economy.
More info here:
https://www.theatlantic.com/magazine...ezuela/534177/
Back in summer of 2012 I almost bought 1500 bitcoins ... would have cost me $105 at the time.Quote:
Originally Posted by sigmanx
Today that would be worth over eleven million dollars.
crap indeed.
Pot business people should use crypto currencies rather than hiring those wannabe pot operator (with airsoft polymer plate carrier) at $16/hr to move cash.
Best idea and use for bitcoin I have seen so far.Quote:
Originally Posted by MrPrena
[Beer]
Hail to the Bitchcoin!
Bitchcoin sounds like an ICO for a seventh tier shitcoin.
It is scary how S&D is. When there are demand for pig shit, people will sell for premium. If over bought/sold, market will correct itself real Damm fast.
Beanie babies, mortgage backed securities, beaver furs, and tulip mania are great historical examples.
Even precious metal are not immuned. If a 25 mile radius meteor which is made with Au (hypothetically speaking) landed on earth.........dudeeeeeeee Chicago Merchantile exchange will halt gold market for few days.
I wonder how many of the critics of bitcoin are shorting it now...
Okay.
Today, in less than 24 hours, the Bitcoin price went up over $1,000 to $10,900.
I keep equating the frenzy to the Tulip collapse in the 1600's, but now I am wondering where is the intrinsic value?
Bloomberg Magazine had an article that "preppers" are switching from holding gold to holding bitcoins.
They're saying that the internet will be the first thing re-established after any apocalypse and bitcoins are more secure than gold.
Aside from international transfers without government interference, what is happening?
As I stated on #24, I also see this as potential Tulip Mania type [one of the] biggest bust in the market soon. I think the demand is steadly increasing due to some illegal/gray area market people.Quote:
Originally Posted by BladesNBarrels
If they get regulated more as time goes by, the bitcoin MEGA SHORTS will cash in. Bull can make $ now, and bear can make $ later.
As for me, I will just [Pop].
There are hundreds of better investments than bitcoin, and I just need to find one.
December 18th is the intro date for the BTC future......Btw hope all of you were on the winning side of the dip today.....dow down 350 to come back and just close a bit shy, lots of money being made.