Bitcoin

#51
#51
lawgator1 said:
The market is so huge and stable that it can effectively be manipulated by monetary policy. That gives it credibility, knowing that the world economy will always stand behind it.

With bitcoin, you know only what people tell you. If it starts to collapse, there is no one to take any action to shore it up.
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shoring up isn't always the answer. If a system is going to fail and you prop it up, you haven't fixed the problem. you are just ignoring it until the next time it needs another prop. instead let it fail, learn and make actual changes instead of making artificial moves, that often cause damage on their own.

Gold based economies have failed, sometimes spectacularly. every currency is going to fluctuate, it isn't always a bad thing.
 
#52
#52
For those of you into bitcoining. You will certainly interested in this..

pepe2.png


Look at that ****ing chart. Ever since Lord Trump stole the election from Hillary, the market for RARE PEPE ART has been on fire. The value has gone from $73,000 to $41 ****ing million. Not a bad return. What's the allure? Take a look at these masterpieces:
Rare Pepe Directory – Rare Pepes on the Bitcoin Blockchain.

Better get in now. Just like invisible bitcoins, Rare Pepes will never decrease in value.
 
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#54
#54
Bitcoin soars above $17,000, boosting worries and a worldwide frenzy
 
#58
#58
The CME has a derivative so puts should be available. I'm not a fan of options since the spreads are typically large and that eviscerating characteristic thingy. I guess any ETF would do much the same except for expiring worthless... but they might as well since they'll drop 95-99% when you're on the wrong side.

I bet the marijuana dispensaries do a lot of transactions in Bitcoin since they were/are having trouble getting banks to take their business.
 
#59
#59
Mick said:
What kind of real accountability is there for the Dollar? Serious question.
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Not much. When bond holders stop buying US treasuries, the dollar will be as valuable as the paper it’s printed on. Our debt to gdp ratio is 105% and climbing and our scumbag politicians have no interest in cutting our spending. Somethings got to give.
 
#60
#60
midnight orange said:
Not much. When bond holders stop buying US treasuries, the dollar will be as valuable as the paper it’s printed on. Our debt to gdp ratio is 105% and climbing and our scumbag politicians have no interest in cutting our spending. Somethings got to give.
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Every time Trump attempts to cut an inefficient or wasteful program the fanatical left comes out in force using it as an opportunity to label him as a racist, mysogenist, ageist, or any other kind of "ist" they can grab at. Bipartisan bickering has overtaken the ability to run the government.
 
#66
#66
lawgator1 said:
Some initial US futures market on Monday and then again a week later. But no inverse ETF that I can find.
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The SEC has rejected at least two proposed ETFs. The CME begins trading Bitcoin futures on 12/18/2017. The CBOE begins on 12/10/2017. I think that the trade is to go long the CME and the CBOE.
 
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#68
#68
lawgator1 said:
The market is so huge and stable that it can effectively be manipulated by monetary policy. That gives it credibility, knowing that the world economy will always stand behind it.

With bitcoin, you know only what people tell you. If it starts to collapse, there is no one to take any action to shore it up.
Click to expand...

Really? The only leverage the dollar has had has been the petrodollar monopoly. As multiple countries begin selling oil in other currencies (which they are), the dollar is toast and that economy collapses.

And PS, your definition of "stable" must differ wildly from mine.
 
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#69
#69
Orange_Crush said:
Really? The only leverage the dollar has had has been the petrodollar monopoly. As multiple countries begin selling oil in other currencies (which they are), the dollar is toast and that economy collapses.

And PS, your definition of "stable" must differ wildly from mine.
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I think the dollar will serve that role of illicit currency. Something that everyone can use, and because we do business with everyone it is widely enough circulated to not be a dead give away.
 
#70
#70
LouderVol said:
I think the dollar will serve that role of illicit currency. Something that everyone can use, and because we do business with everyone it is widely enough circulated to not be a dead give away.
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I humbly disagree. The world knows the dollar is fiat, and that we are printing them like crazy (thus devaluing it). Why on earth would the rest of the world want the US dollar as the global currency?

Post-WW II, the only reason the world accepted the US dollar was because we backed it with gold. Then Nixon decoupled the dollar from gold. The only reason the world has accepted the dollar as global currency was because they had to trade oil in US dollars.

The BRIC system is changing that. The US dollar is a loser's proposition, and its future is grim.
 
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#72
#72
Orange_Crush said:
I humbly disagree. The world knows the dollar is fiat, and that we are printing them like crazy (thus devaluing it). Why on earth would the rest of the world want the US dollar as the global currency?

Post-WW II, the only reason the world accepted the US dollar was because we backed it with gold. Then Nixon decoupled the dollar from gold. The only reason the world has accepted the dollar as global currency was because they had to trade oil in US dollars.

The BRIC system is changing that. The US dollar is a loser's proposition, and its future is grim.
Click to expand...

so NK has a whole industry of counterfeiting other people's money as well?

Not saying it won't lose value. Not arguing that petrol might be selling on more than the dollar. But what out there is going to replace it? Does BRICs have a set currency that everyone is going to accept?
 
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