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-   -   Argument against Bitcoin (http://www.paceadvantage.com/forum/showthread.php?t=138556)

so.cal.fan 05-21-2017 01:01 PM

Argument against Bitcoin
 
BitCoin Criminals Authorities | Armstrong Economics
https://www.armstrongeconomics.com/i...s-authorities/

n.c 05-21-2017 08:12 PM

just went over
 
2000

sec rejected Winklevoss brothers(original facebook guys) bitcoin etf

AltonKelsey 05-22-2017 02:26 AM

If people want to pay $500 for a beanie baby or 5 million for a stamp, or 100 million for a painting, you can't stop them.

AltonKelsey 05-24-2017 10:30 PM

I'm waiting till it hits 3000 before I buy my first 100 lot. Want to make sure its not just a manipulation.

PICSIX 05-25-2017 06:58 AM

Quote:

Originally Posted by AltonKelsey (Post 2174458)
I'm waiting till it hits 3000 before I buy my first 100 lot. Want to make sure its not just a manipulation.

Buy high, sell higher:lol::lol:

AltonKelsey 06-05-2017 10:59 PM

Quote:

Originally Posted by AltonKelsey (Post 2174458)
I'm waiting till it hits 3000 before I buy my first 100 lot. Want to make sure its not just a manipulation.

soon

ReplayRandall 06-05-2017 11:15 PM

Quote:

Originally Posted by AltonKelsey (Post 2180421)
soon

Soon.....the fraud that Bitcoin IS, with no transparency whatsoever, will finally be exposed for the world to see, and a major GOVERNMENT operated cyber-currency will take it's place. It's not a matter of "if" this happens, it's a matter of "when".....Everybody's got to be shilling something to make a buck, a certain new stock or option to play, flipping real estate or cyber-scams like these....It just never stops.

AltonKelsey 06-06-2017 06:06 PM

You're preaching to the choir.

I thought it was a scam at $100.

But at some point , you have to respect that the market doesn't care what you think .

That's how you stay solvent. http://industrialrecyclingsolutions....nt-removal.jpg

lamboguy 06-06-2017 11:08 PM

Quote:

Originally Posted by ReplayRandall (Post 2180423)
Soon.....the fraud that Bitcoin IS, with no transparency whatsoever, will finally be exposed for the world to see, and a major GOVERNMENT operated cyber-currency will take it's place. It's not a matter of "if" this happens, it's a matter of "when".....Everybody's got to be shilling something to make a buck, a certain new stock or option to play, flipping real estate or cyber-scams like these....It just never stops.

it is taking me a long time to comprehend bitcoin. but the basis of what it is all about is to protect the holders of it from governments all over. governments throughout the world confiscate their citizens money, either by inflation or taxes. for example in our country we now have a 2% inflation rate which excludes food and energy. i can tell you that both food and energy have gone up over 20% year to year. when you add up all the taxes we pay its way over 50% of what we earn. they take our tax money and redistribute it to others that the government favors.

strange as it seems, money has chased bitcoin and not precious metals. in the past 2 years gold has only gone from $1050 per ounce to $1250 the ounce. i suspect that will eventually change though because precious metals have a 5000 year history of protecting the holders against governments and outside forces.

bigsonny 06-07-2017 09:08 AM


AltonKelsey 06-07-2017 02:43 PM

What food is up 20%?

Are you just making up numbers?

https://tradingeconomics.com/united-...food-inflation

reckless 06-07-2017 05:41 PM

Quote:

Originally Posted by AltonKelsey (Post 2180949)
What food is up 20%?

Are you just making up numbers?

https://tradingeconomics.com/united-...food-inflation

There's a convenience store in my neck of the woods, Alton, called WAWA.

I would often buy a hot dog there for 99 cents.... until last Saturday when they 'jacked' the price up to $1.19. True. :lol::lol:

_______ 06-07-2017 07:15 PM

Quote:

Originally Posted by lamboguy (Post 2180772)
it is taking me a long time to comprehend bitcoin. but the basis of what it is all about is to protect the holders of it from governments all over. governments throughout the world confiscate their citizens money, either by inflation or taxes. for example in our country we now have a 2% inflation rate which excludes food and energy. i can tell you that both food and energy have gone up over 20% year to year. when you add up all the taxes we pay its way over 50% of what we earn. they take our tax money and redistribute it to others that the government favors.

strange as it seems, money has chased bitcoin and not precious metals. in the past 2 years gold has only gone from $1050 per ounce to $1250 the ounce. i suspect that will eventually change though because precious metals have a 5000 year history of protecting the holders against governments and outside forces.

WTI closed at 50.36 on 7/7/2016. Here's a price history for reference:


https://www.eia.gov/dnav/pet/hist/Le...PET&s=RWTC&f=D

I'll give you the benefit of not forseeing today's 5% drop but if energy prices were up 20% that would put WTI north of $60 instead of south of $46.

And I know I'll never shake anyone off their love of gold which is something deep and emotional and, like any other love affair, immune to rational analysis.

But since 1900, gold has deeply underperformed the total return of both stocks and bonds. It's held it's own against cash. Gold has returned an annualized 1% vs. 0.9% for just sticking your savings in a money market account.

lamboguy 06-07-2017 07:43 PM

Quote:

Originally Posted by _______ (Post 2181093)
WTI closed at 50.36 on 7/7/2016. Here's a price history for reference:


https://www.eia.gov/dnav/pet/hist/Le...PET&s=RWTC&f=D

I'll give you the benefit of not forseeing today's 5% drop but if energy prices were up 20% that would put WTI north of $60 instead of south of $46.

And I know I'll never shake anyone off their love of gold which is something deep and emotional and, like any other love affair, immune to rational analysis.

But since 1900, gold has deeply underperformed the total return of both stocks and bonds. It's held it's own against cash. Gold has returned an annualized 1% vs. 0.9% for just sticking your savings in a money market account.

unfortunately you just made the case for gold now. everything reverts back to the means.

you understand living locks, gold is a living lock to be $2000 per ounce by this time next year and my guess is it will be a lot higher. again, that is a living lock.

_______ 06-07-2017 08:53 PM

Quote:

Originally Posted by lamboguy (Post 2181109)
unfortunately you just made the case for gold now. everything reverts back to the means.

you understand living locks, gold is a living lock to be $2000 per ounce by this time next year and my guess is it will be a lot higher. again, that is a living lock.

Reverting to what mean? I just quoted gold's performance over the last 117 years.

You're looking for a pivot from that?

And a living lock from a guy who thinks energy prices are up more than 20% in the last year. You understand my skepticism, right?


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