Crypto currency

[Lefou]

NJ woman charged with using bitcoin to help ISIS:

https://www.yahoo.com/news/york-wom...ney-help-islamic-state-233524857--sector.html

Bitcoin will not last, too many crooks will attempt to use it for tax evasion, money laundering and other purposes.
Its not logical that governments will let this go on.

It's not logical to expect governments NOT to co-opt a profitable venture they aren't in control of. I expect block chain currency credits to replace paper or metal exchanges at some point in the future.

 

[triethylborane]

Like feeding the poor, housing the homeless, and taking care of orphans? It makes me laugh to think so.

People are likely engaging the same kind of transactions they do with our reserve bank notes. Regardless, to be doing great things with crypto transactions does not require feeding the homeless or taking in orphans.

In reality, they're making themselves rich at other peoples expense.

"Making themselves rich" at other people's expense is exactly the way a free market economy works. People consent engage in mutually beneficial transactions (ie a contract) and those who repeatedly engage in these transactions are those who tend to be wealthier than those who less frequently engage in such transactions.

A lottery is a better example of people getting rich at other people's expense, but there is still consent. It is a tax on poverty and ignorance, though. Or a wealth redistribution scheme might be more in line with taking wealth without consent.

 

[Lefou]

Anything convertible to US dollars and subject to IRS capital gains taxes can be regulated by the US government. BitCoin behaves exactly like an inflated, speculative exchange-traded stock. I wouldn't be surprised if the real Satoshi sold the intellectual rights and signed a non-disclosure agreement - effectively transferring ownership of certain block chain datum to government-affiliated investment firms. Banks and governments hate the idea of untraceable alternative currencies they can't control or profit from and I suspect at some point even Jamie Dimon will see the "wonders" of an alternative financial system.

 

[klcramer]

I expect there will be regulations put into place and the government will figure out how to get as much as possible. Banks are interested in crypto currencies as I’ve stated before because it saves them money. I know there are people on both sides of this discussion (as there should be). I like what I see and read in the news. I hope more change is on the way.

 

[MaxStout]

Interesting Wired article on cryptocurrency. One big setback to widespread acceptance is scalability. The existing networks just cannot process any appreciable volumes of transactions. It's still a niche investment novelty at this time.

 

[TBC]

Again this is not financial advice but yes I am currently hold XRP. I used Coinbase to buy bitcoin then transferred it to binance to purchase XRP. Those are just the exchanges I like but there are many to choose from. I hold a couple other cryptos but they aren’t doing as well. Invest with Care.

So I picked up some litecoin on Coinbase a couple weeks ago at 130. I got nervous this morning and dumped it in the mid 200s. Regretting it now but I figured I’d take my money and run. I’m going to buy more litecoin and transfer it to Binance and buy XRP and I’m also going to take a flier on XVG. I read if you had invested $117 in XVG the beginning of the year you’d be a millionaire today.

I rode the litecoin wave and won. Now I’m going to try to catch 2 more waves. I’m still skeptical about crypto but the risk reward is way better than the stock market.

 

[MaxStout]

So I picked up some litecoin on Coinbase a couple weeks ago at 130. I got nervous this morning and dumped it in the mid 200s. Regretting it now but I figured I’d take my money and run. I’m going to buy more litecoin and transfer it to Binance and buy XRP and I’m also going to take a flier on XVG. I read if you had invested $117 in XVG the beginning of the year you’d be a millionaire today.

I rode the litecoin wave and won. Now I’m going to try to catch 2 more waves. I’m still skeptical about crypto but the risk reward is way better than the stock market.

Bitcoin is plummeting, so wait and see if it drops some more. Maybe you'll get it at a bargain rate soon.