the more the coin of all coins is decreasing in value the more the phrase "tulip bubble" comes into my mind and the more I am remembering to the great interview with Jamie Dimon. tulips ... its all about tulips.
making a currency out of a blockchain was a crackpot idea ... there are better suited areas for that application. trust me. I should know what makes a currency a currency and every existing coin is not a currency. so "cryptocurrency" is definitively the wrong label. its more a cryptocommodity with no practical use. the only advantage is its rarity and only if you consider one special coin. but if you can make thousands of coins where is the rarity then?
this post here is also rare - its unique. (if nobody is copying it) but does it have a value because its unique?
no. it has a value but not because its unique but because of its content.
the bitcoin and the years 2011, 2013 and 2017 ... epic. but I have the feeling that all coins will be worthless soon. except the ripple or any other coin with practical use could have a value. something that is not only rare but usable. which is not even created until now. to transfer 1 coin or fractions of it to another person can be made faster and easier than with gold. ok - accepted. gold is unique in its atomic structure but the uniqueness of bitcoin and ether and karbo is just its name and protocol and some properties. its not completely worthless - thats not the case but I would have doubts to pay 15,000 dollar for a digital unit.
a tulip has also a price but its not worth anymore the value of a house like in 1637. these times are over and i suspect the times of the so called cryptocurrencies are over, too.
the more the bitcoin is crashing in value the more the word "bubble" comes into my mind. the bitcoin was a phenomenon and a consequence of the cheap money all around and will certainly disappear if interest rates will rise again. even jamie dimon told in his legendary interview that 20.000 usd could be in store and yes, maybe that was the climax in price.
and interest rates are rising again. thats not good for any asset class and least of all for assets not backed with an annuity as bonds and stocks can offer.
the money system as we have it today is bulletproof.
I would prefer owning usd, eur, jpy, rmby, uah, rub or any other currency of a reliable economic zone or even gold itself - its more accepted that bitcoin or any other cryptocoin.
the tulip bubble was also crazy. the internet bubble was crazy, too.
the behaviour of humans obviously has not changed and maybe will never change in future. so more bubbles should be expected.
the transactions of bitcoin take too much time I ve read, same was true in 1929. the ticker of the stock quotes was rattling still hours after the close of the trading. today you can trade 24/7 but in panic you wount accept any price and only sell sell sell ... and afterwards the goverment will make rules as it did in 1929.
i am sure a government ban will only be a matter of time. this will not end good and many people will lose everything they owned. like in 1637, 1929, 2000 and 2008/09.
i would sell until its possible and not use any money i am reliant on ... me personally i am reliant on any penny.
cme and cboe already launched bitcoin futures. nasdaq will join in Q1 2018. I assume in 2025 there will be no future anymore in bitcoin due to lack of liquidity.
the bitcoin ... such a crazy idea. but if you want to get rich you will accept any story. could be a mistake if you ask me. i know you did not ask me
i am telling this you for free.
making a currency out of a blockchain was a crackpot idea ... there are better suited areas for that application. trust me. I should know what makes a currency a currency and every existing coin is not a currency. so "cryptocurrency" is definitively the wrong label. its more a cryptocommodity with no practical use. the only advantage is its rarity and only if you consider one special coin. but if you can make thousands of coins where is the rarity then?
this post here is also rare - its unique. (if nobody is copying it) but does it have a value because its unique?
no. it has a value but not because its unique but because of its content.the bitcoin and the years 2011, 2013 and 2017 ... epic. but I have the feeling that all coins will be worthless soon. except the ripple or any other coin with practical use could have a value. something that is not only rare but usable. which is not even created until now. to transfer 1 coin or fractions of it to another person can be made faster and easier than with gold. ok - accepted. gold is unique in its atomic structure but the uniqueness of bitcoin and ether and karbo is just its name and protocol and some properties. its not completely worthless - thats not the case but I would have doubts to pay 15,000 dollar for a digital unit.
a tulip has also a price but its not worth anymore the value of a house like in 1637. these times are over and i suspect the times of the so called cryptocurrencies are over, too.
the more the bitcoin is crashing in value the more the word "bubble" comes into my mind. the bitcoin was a phenomenon and a consequence of the cheap money all around and will certainly disappear if interest rates will rise again. even jamie dimon told in his legendary interview that 20.000 usd could be in store and yes, maybe that was the climax in price.
and interest rates are rising again. thats not good for any asset class and least of all for assets not backed with an annuity as bonds and stocks can offer.
the money system as we have it today is bulletproof.
I would prefer owning usd, eur, jpy, rmby, uah, rub or any other currency of a reliable economic zone or even gold itself - its more accepted that bitcoin or any other cryptocoin.
the tulip bubble was also crazy. the internet bubble was crazy, too.
the behaviour of humans obviously has not changed and maybe will never change in future. so more bubbles should be expected.
the transactions of bitcoin take too much time I ve read, same was true in 1929. the ticker of the stock quotes was rattling still hours after the close of the trading. today you can trade 24/7 but in panic you wount accept any price and only sell sell sell ... and afterwards the goverment will make rules as it did in 1929.
i am sure a government ban will only be a matter of time. this will not end good and many people will lose everything they owned. like in 1637, 1929, 2000 and 2008/09.
i would sell until its possible and not use any money i am reliant on ... me personally i am reliant on any penny.
cme and cboe already launched bitcoin futures. nasdaq will join in Q1 2018. I assume in 2025 there will be no future anymore in bitcoin due to lack of liquidity.
the bitcoin ... such a crazy idea. but if you want to get rich you will accept any story. could be a mistake if you ask me. i know you did not ask me
i am telling this you for free.