Posted on 10/27/2017 2:43:21 AM PDT by Logicbox
Billionaire venture capitalist and PayPal co-founder Peter Thiel has been a long time proponent of Bitcoin. At the Future Investment Initiative in Riyadh, Saudi Arabia, Thiel once again reiterated the potential of Bitcoin, stating that people are underestimating it.
(Excerpt) Read more at cointelegraph.com ...
I see Bitcoin as a “virtual” nothing. I’ll keep my physical gold and silver. At some point there will be a war and Bitcoin, only accessable to you by computer, will be no help if you can’t use it. When the lines go down, you’re on your own.
When the lines go down, you gold ain’t going to do you much good either. Search what people were able to do with an ounce of gold. Here is a hint...it was worth $50.
And there was nothing to buy.
The apocalypse will treat all money poorly. If there is a war in the US, your bullion will help your grandkids. You will have been dead for years.
The appeal of metals is that value is global; paper money and Bitcoin value can disappear with the stroke of a pen or the push of a button. That ounce of gold has value (even if it is just $50) anywhere in the world.
As white people planted flags around the globe, many colonized people refused to take paper money; in a practical sense, it was expensive toilet paper. They would accept gold and silver coins, however - didn’t even matter whose face was on it.
It's another 'Get Rich Quick' scheme
. A better investment is in S&P Index funds and/or Paid off Real Estate; proven wealth builders by regular investments over time.
bmp
The “Golden” Rule investing: Diversify.
I wonder if this fellow is trying to bump up the price before he sells his bitcoins.
And still is in some of those countries (e.g. Zimbabwe), except it is the indigenous people, not the white colonists, who are printing it.
no electricity - no Bitcoin. ask the Puerto Ricans
True; you’ve reached a real low point when your currency isn’t even traded internationally.
The 1920s Weimar hyperinflation is often compared to the Zimbabwe issue, but they have two very different backgrounds. Zimbabwe’s currency has no value because there is no underlying asset (the country is basically reverting to nature as the agriculture sector collapsed); Germany issued bazillions in banknotes because the Allies allowed them to pay the war reparations with paper instead of gold (so they paid it very quickly with paper, which then flooded the economy and quickly lost value).
My mind cannot grasp how bitcoin is much else. I've come to think of it as more of a virtual bartering system with some very smart people upfront making up something, the rules for acquiring their made-up stuff, and getting lots of people to fall in line and barter with their "currency".
It's a real assault on the almost as fake global banking system and Federal Reserve. Governments and the elite hate it because they don't control it and can't tax it. Drug dealers and other slime like it because the gov cant follow it.
Simple-minded folks like me wonder how long something that is nothing can last.
Bitcoin chains are for naked emperors.
Bitcoin is a virtual tulip. Don’t tank the market...
When posting in support of Bitcoin here, you must always recall Matthew 7:6.
I have both metals and Bitcoin. The gains for the Bitcoin are up x20 while the metals are x1 or less.
What is blockchain and how does it relate to bitcoin?
I watched a bitcoin documentary. Two people in it confirmed what I thought, they said the vast majority of people involved with bitcoin are involved for speculative reasons. In comparison few actually use it as money. It looks like the ultimate scheme to me. Sure it’s going up, because there is a limited number of them (22 million), and the coins available through mining halve every four years. A money supply needs to fluctuate with an economy. Bitcoin doesn’t. I don’t think it will ever be a viable alternative.
bttt....I'd like to read any answers to that
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