The bitcoin market is collapsing

 
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freetown fred
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Post by freetown fred » Tue. Apr. 17, 2018 6:42 am

Read article on best 3 crypto's to purchase & they specified BITCOIN not being one of them--forget who but it made sense. Back to my thinking it's no more then a big pyramid scam. BUT, remember, I'm just an old farmer!! LOL


 
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Post by gaw » Tue. Apr. 17, 2018 9:09 am

Kinda like using road apples as currency except you can actually hold and touch a road apple.


If you are an Eagles fan you can even eat a road apple.

 
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Post by freetown fred » Tue. Apr. 17, 2018 9:10 am

LOL, indeed ya can G.

 
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Post by coalnewbie » Tue. Apr. 17, 2018 10:55 am

Once the govt decided to tax Bitcoin that was the end. Like gold (PM) which is now specially taxed at 38% that is curtains.

 
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Post by lsayre » Tue. Apr. 17, 2018 11:10 am

coalnewbie wrote:
Tue. Apr. 17, 2018 10:55 am
Once the govt decided to tax Bitcoin that was the end. Like gold (PM) which is now specially taxed at 38% that is curtains.
For the most part this only occurs in the land of the free. Other less free nations are not taking this draconian route.

 
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Post by coalnewbie » Tue. Apr. 17, 2018 3:15 pm

If gold or bitcoin ( or any cryptocurrency) were to really get hold it would mean the US dollar would be threatened and we would have to live within our means. There is no way that can ever happen again. Iran is about to be crushed by dollar strength thx to Trump (like it or not). Follow the Iranian currency daily as there is chaos ahead and their govt will topple. Load up with coal it being the only currency worth hoarding if you need heat to survive. Who has bets on HO rising to $4 again? Yep, you heard it hear first. We are mortgaging our future by super dependence on nat gas. Perry is right we need more coal power generation. How on earth are we going to power those 4000 Bolts we sold last quarter. hahahahahahaha, I slay myself.

 
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Post by k-2 » Tue. Apr. 17, 2018 7:36 pm

freetown fred wrote:
Tue. Apr. 17, 2018 6:42 am
Read article on best 3 crypto's to purchase & they specified BITCOIN not being one of them--forget who but it made sense. Back to my thinking it's no more then a big pyramid scam. BUT, remember, I'm just an old farmer!! LOL
Anything created out of thin air is not worth much more than thin air. Just like a pyramid scheme. BITCOIN was trading for less than 1$ not too long ago ,probably very close to its actual value.


 
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Post by lsayre » Wed. Apr. 18, 2018 9:23 am

Bitcoin is presently at $8,131. It seems to be collapsing in the wrong direction. I sure wish I had gotten some at 6 cents per unit back in 2010/2011.

Robert Shiller (of Case-Shiller P/E Index fame, in addition to multiple other Case-Shiller Indexes of high financial and economic importance) admits that Bitcoin is a bubble, but he also admits that it may likely be with us for a very long time.

There are now 1,577 cryptocurrencies, and 1,780 Bitcoin ATM's in the USA. To my knowledge, no other crypto has ATM's.

 
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Post by coaledsweat » Tue. Mar. 12, 2019 11:01 am


 
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Post by CoalisCoolxWarm » Wed. Mar. 13, 2019 11:28 am

Everybody knows the way to make money with Bitcoin was to get in, use it to buy tangible goods, then hype it up, and sell to others buying into the hype at a high price, then convert yours into more tangible goods.

Currency exchanges are more regulated and tracked than buying 'stuff'

Similar to laundering counterfeit money.

 
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Post by lsayre » Mon. Mar. 18, 2019 6:45 am

Pet Rocks
Beanie Babies
Hummel's
Bitcoins
US Dollars
Euro's
Yuan's
Yen
Ruble's
Peso's

Commonality: Collapsing ....

 
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Post by coalnewbie » Mon. Mar. 18, 2019 8:08 am

A collection of 1s and zeros are not worth much. They have had those 15 minutes of fame and are now done.

https://moneymaven.io/mishtalk/economics/where-is ... R-zaWvrFA/

 
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Post by coalnewbie » Sat. Apr. 13, 2019 10:36 pm

https://www.investmentwatchblog.com/the-amount-lo ... 000000000/

That is nearly as much as EVs will cost the auto industry.

 
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Post by lsayre » Sun. Apr. 14, 2019 6:03 am

coalnewbie wrote:
Sat. Apr. 13, 2019 10:36 pm
https://www.investmentwatchblog.com/the-amount-lo ... 000000000/

That is nearly as much as EVs will cost the auto industry.
The article should have stated "potential money lost", not "money lost". Only a very small fraction of the potential money was ever actually added into the bitcoin system to begin with. Few realize that for quite some time you could amass bitcoins at 6 cents per each. If one fool buys a bitcoin for $15,000, all bitcoins suddenly take on the "potential" value of $15,000.

 
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Post by BigBarney » Tue. Apr. 16, 2019 1:45 pm

Why would anyone buy IMAGINARY money ????

Only buy store houses of value...

Real Estate , metals , land , and other real products.....

BigBarney


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