Bitcoin hits 40000 bucks

Helioform

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Now look at the lemmings jump into NSA created cryptocurrencies. Going from one fiat currency that is actually tangible (dollar) to one that is entirely electronic and can crash at any time while being dependant on electricity and technology.
 






justjess

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Bitcoin is a Ponzi scheme. I don’t understand this delusion either. It takes like three seconds of critical thoughts to know you should be staying far away from it
 






DavidSon

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My understanding is that Bitcoin and other cryptocurrencies are a threat to the world's central banks. The US is discussing their own CC while China and a few others are running pilot programs to try and get ahead of the inevitable. In a few spots crypto is the largest medium for transactions and the people are supposedly happy. The Federal Reserve and US lawmakers are very aware of the reality, and anonymity seems to be their greatest concern (of course evil criminals and terrorists!):

US Government Moves to Regulate Cryptocurrencies

Meanwhile, in the document, the DOJ says it considers the use of anonymity enhancing cryptocurrencies (AECs) such as Monero, Zcash, and Dash “to be a high-risk activity that is indicative of possible criminal conduct.”

Unsurprisingly, the DOJ also says operators of mixers and tumblers “can be criminally liable for money laundering because these services are designed specifically to conceal or disguise the nature, the location, the source, the ownership, or the control of a financial transaction.”
 






DavidSon

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Why Governments are Afraid of Bitcoin

If bitcoin or another cryptocurrency become widely adopted, the entire banking system could become irrelevant. While this may sound like a wonderful concept in light of the recent behavior of the banking industry, there are two sides to every story. Without banks, who will you call when your mortgage payment gets hacked? How will you earn interest on your savings? Who will provide assistance when a transfer of assets fails or a technical glitch occurs?

While the financial crisis gave bankers an even worse reputation than they already had, there is something to be said for institutions that oversee timely, effective, and trustworthy asset transfers and their associated record keeping. There’s also the issue of the fees banks earn for the services they provide. Those fees generate a lot of revenue and a lot of jobs across the global banking industry. Without banks, those jobs disappear, as does the tax revenue those banks and their employees’ paychecks generate. Money transfer business would also disappear in a virtual world. Nobody needs a Western Union or its competitors if everybody is using bitcoin.


Not trying to make a broad statement that all citizens should advocate for digital currencies but it's an interesting discussion about OUR money. I wouldn't feel sad if the whole sector that profits from transaction fees and interest rates was eliminated.
 






justjess

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Lemmings

Why is anyone even getting on board with this? I literally argue with my kid all the time that I’m not investing in fricking bitcoin and he tells me I’m old and just don’t “understand things” but quite frankly I don’t get it. It’s been around long enough that if it was actually going to become a competitor with real money in a real way we would have seen signs of that by now. It has not delivered. And if the world goes to complete shit - “money” will be food and things people actually need and can trade with. Not some imaginary currency sitting in an internet cloud.
 






Helioform

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Why is anyone even getting on board with this? I literally argue with my kid all the time that I’m not investing in fricking bitcoin and he tells me I’m old and just don’t “understand things” but quite frankly I don’t get it. It’s been around long enough that if it was actually going to become a competitor with real money in a real way we would have seen signs of that by now. It has not delivered. And if the world goes to complete shit - “money” will be food and things people actually need and can trade with. Not some imaginary currency sitting in an internet cloud.
Because it is required for the transhumanist blockchain society to evolve. They offer a carrot, then dangle it with promises of riches, get people used to electronic only currency, then they crash it completely and replace it with central bank cryptocurrency. It is to get people used to the idea.
 






The Zone

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Precious metals. And even then try to get a loaf of bread when everybody wants some with anything. May I suggest garden seeds and a personal garden while stashing clean drinking water which could be currency onto itself? Water is an overlooked must. Learn how to sterilize dirty water as well. I am not a survivalist but do like a bit of common sense here and there. I have toyed with crypto a bit but the prices it is at now are scary but less so than cash IMO. The US dollar has about as high of purchasing power as it ever will again right now, so take out some savings and put it into easily marketable or needed products for if we have a supply chain interruption which seems inevitable.
 






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Lil axe

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My understanding is that Bitcoin and other cryptocurrencies are a threat to the world's central banks. The US is discussing their own CC while China and a few others are running pilot programs to try and get ahead of the inevitable. In a few spots crypto is the largest medium for transactions and the people are supposedly happy. The Federal Reserve and US lawmakers are very aware of the reality, and anonymity seems to be their greatest concern (of course evil criminals and terrorists!):

US Government Moves to Regulate Cryptocurrencies

Meanwhile, in the document, the DOJ says it considers the use of anonymity enhancing cryptocurrencies (AECs) such as Monero, Zcash, and Dash “to be a high-risk activity that is indicative of possible criminal conduct.”

Unsurprisingly, the DOJ also says operators of mixers and tumblers “can be criminally liable for money laundering because these services are designed specifically to conceal or disguise the nature, the location, the source, the ownership, or the control of a financial transaction.”
watched an interview with catherine austin fitts, speaking about the currencies among other things, i enjoyed the video
if interested-
 






Joined
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My understanding is that Bitcoin and other cryptocurrencies are a threat to the world's central banks. The US is discussing their own CC while China and a few others are running pilot programs to try and get ahead of the inevitable. In a few spots crypto is the largest medium for transactions and the people are supposedly happy. The Federal Reserve and US lawmakers are very aware of the reality, and anonymity seems to be their greatest concern (of course evil criminals and terrorists!):

US Government Moves to Regulate Cryptocurrencies

Meanwhile, in the document, the DOJ says it considers the use of anonymity enhancing cryptocurrencies (AECs) such as Monero, Zcash, and Dash “to be a high-risk activity that is indicative of possible criminal conduct.”

Unsurprisingly, the DOJ also says operators of mixers and tumblers “can be criminally liable for money laundering because these services are designed specifically to conceal or disguise the nature, the location, the source, the ownership, or the control of a financial transaction.”
I personally don’t know much about Bitcoin, but I have a friend of mine who’s been playing around with cryptocurrency for years without brokers, so I listen when he tells me stuff.

Said in Holland all transactions with cryptocurrency, like trx, ada, xrp, et al. that are not in hardware ledgers have been blocked on several payment platforms until January 23rd on which crypto assets will be sold by default at day value in return for euros, while the Dutch government negotiates with the Deutsche Bank about how they can take over the supply to substitute a collapsing fiat currency system.

Reminds me of Roosevelt’s 1933 executive order to limit the hoarding of gold so the Fed could give out credit unlimited. Seems like a monetary coup by the banks to me as well.
 






Aero

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Crypto platforms aren't like casino's, but I'm reminded of those stories of people winning at a casino and the house never paying. Like, oh, the slots machine was "glitched". You didn't just win 50 million.

The cryptocurrency market is good for short term returns. And I'm pretty sure everyone with a brain knows this. Nobody is putting their measly life savings into crypto with the hopes that it takes over the physical currencies. No, you put 50 grand and sell when you double up. Then you reinvest the 100 grand and double up again until you are a billionaire.
 






justjess

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Crypto platforms aren't like casino's, but I'm reminded of those stories of people winning at a casino and the house never paying. Like, oh, the slots machine was "glitched". You didn't just win 50 million.

The cryptocurrency market is good for short term returns. And I'm pretty sure everyone with a brain knows this. Nobody is putting their measly life savings into crypto with the hopes that it takes over the physical currencies. No, you put 50 grand and sell when you double up. Then you reinvest the 100 grand and double up again until you are a billionaire.
Like I said.. ponzi or pyramid scheme. Everything built like that crumbles. And someone will get hurt when it does.
 






MP3D

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Bitcoin is a Ponzi scheme. I don’t understand this delusion either. It takes like three seconds of critical thoughts to know you should be staying far away from it
sounds like youre bitter you missed the bus.
 






MP3D

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Because it is required for the transhumanist blockchain society to evolve. They offer a carrot, then dangle it with promises of riches, get people used to electronic only currency, then they crash it completely and replace it with central bank cryptocurrency. It is to get people used to the idea.
ive known many people who have profited HUGE from CC. its a gamble. if you dont want to try it, dont, but dont criticize others who arent afraid to take a risk.
 






Aero

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Like I said.. ponzi or pyramid scheme. Everything built like that crumbles. And someone will get hurt when it does.
I'm pretty sure blockchain technology has real value. You have inspired me to do some more research though. Mainly because I don't want to invite bad karma. I don't think it's more of a scheme than central banking. I mean come on, you would rather have bankers leveraging their authority all over you? And BTW, haven't you watched the show Ozark?

Cash pretty much ensures huge money-laundering operations. But, hey, that's probably good karma, right?
 






DavidSon

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ECB Chief Christine Lagarde Calls for Bitcoin Regulation

"It’s a matter that needs to be agreed at a global level, because if there is an escape, that escape will be used. So, I think … that global cooperation, multilateral action is absolutely needed, whether it’s initiated by the G7, moved into the G20 and then enlarged."

"Several commenters pointed out that it is the ECB and other central banks that are doing “funny business” with all their money printing activities.

Many people noted that Lagarde herself is a convicted felon. A Twitter user opined: “Why are all the people trying to regulate bitcoin incredibly sketchy themselves? Lagarde was ‘found guilty of criminal charges over massive (400m euro) government payout.’” While serving as the managing director at the International Monetary Fund (IMF), Lagarde was convicted in 2016 on negligence charges over a state payout made while she served as France’s finance minister in 2008. Nonetheless, she escaped punishment and kept her job at the IMF.

Meanwhile, Lagarde also said Wednesday that she hopes it would take no more than five years to launch a digital euro." :D
 






Lurking009

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People who take risks - whether it's business start ups, stock market, or a new currency - know they can spectacularly succeed or fail. I'm neutral on cryptocurrency at the moment since I don't know enough about it, but I do applaud those who have researched and gained from it.

It's pure irony that when the risk takers succeed, some non-risk takers will inevitably crawl out of the woodwork to berate them for their wealth and success, crying about injustice and privilege.
 






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