CME to add BTC Futures Contract

[Justin]

Bitcoin shot up past $6600/BTC today. Freaking incredible.

Ethereum seems to be holding steady.

[20X11]

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.

[vectorsc]

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.

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.

[Aloha_Shooter]

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.

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.

[BushMasterBoy]

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...

[MrPrena]

Well now that it is listed at cme, I am sure bitcoin fanboys/hater can start buying call/put.

[Justin]

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/

[MrPrena]

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.

[BladesNBarrels]

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.

[BushMasterBoy]

Hail to the Bitchcoin!