Global Currency Reset

[buttsie]

Originally Posted by videodude

Hey kids just to let everyone know... in my last post on July 26th 2017, the price of Bitcoin was $2,475... The price now is hovering at about $5,720!! Many in the crypto token asset community will tell you its the very beginning, myself included. A few hundred dollar investment has the potential to make thousands of real money... NOT FIAT! Learn about the 'ico' its the equivalent of an 'ipo' without all the red tape. A reset will come, but I feel it will be more of devaluation and these digital currencies will take over. Don't let them fool you, these digital currencies cant be regulated. The second governments start trying to regulate... already broke governments are on the hook to defend lawsuits in the courts. Also when governments give digital currencies 'merit' it means they are real competition to fiat and they do not want the competition. **You will remember reading this one day and think, what will be your thought? "Whew I am glad I listened to videodude!" OR "Darn if I just would have put my piggy bank into crypto, I would have been the bank!"**
Also, remember the faking space travel thing. As well all the companies that work with these agencies. Once the world wakes up to the fact that all these space agencies are lying and have been since the start, its over. Oh how those stocks will tank and the lawsuits will be a plentiful. Trust in governments will begone, more than it already is. Search 'bubbles in space' - "Nasa Follies" - 'China Space Bubbles' - 'International Space Station Hoax' Its all there for you to make your own opinions. You have the eyes to see this everyone!

The IT savvy and those that can afford to lose money will no doubt invest in them
Huge quick profits always attract the greedy

As to how governments will react over time is anyones guess but i wouldnt bet on them leaving it alone for ever.


User beware


Head of Mt Gox bitcoin exchange on trial for embezzlement and loss of millions

Mark Karpelès faces up to five years in jail as Japanese authorities press charges in bankruptcy case that lost 850,000 bitcoins and $28m of user money

Mt Gox, which handled around 80% of global bitcoin trades, shut down and went bankrupt in February 2014, saying that it had lost about 850,000 bitcoins – then worth around half a billion US dollars – and $28m (£22m) in cash from its Japanese bank accounts. The Tokyo-based Mt. Gox blamed hackers for its lost bitcoins, pointing to a software security flaw, but subsequently said it had found 200,000 of the missing bitcoins.

https://www.theguardian.com/technolo...ss-of-millions

[deepsepia]

Originally Posted by videodude

Hey kids just to let everyone know... in my last post on July 26th 2017, the price of Bitcoin was $2,475... The price now is hovering at about $5,720!! Many in the crypto token asset community will tell you its the very beginning, myself included. A few hundred dollar investment has the potential to make thousands of real money... NOT FIAT!

Crypto currency is entirely "fiat money". Its invented out of nowhere, backed by nothing.

Particular cryptocurrencies can be "scarce", but so what?

My handwritten letters are scarce too, but they're not worth anything.

Blockchain is a very important innovation and will be applied to all sorts of things, but Bitcoin isn't even a particularly efficient blockchain implementation.

Moreover, the extreme price volatility makes it useless as a medium of transaction-- few will want to, say, sign a purchase order denominated in a currency which fluctuates so wildly in value.

I've bought Bitcoins to purchase premium hosting services, and am happily surprised to discover that I've ended up making plenty of money on it; irony of ironies, I never thought my porn addiction would end up making me money!

But seriously, crypto is an important _technology_ but those who imagine that a particular value for Bitcoin is somehow warranted are fooling themselves.

[slimOl55]

Yea! - i got the ball rolling on this subject. Besides the obvious unknown unknowns.. what are your thoughts on how you would handle this type of event when the financial authorities issue new money and reject the old stuff. Just a thought guys and gals.

[deepsepia]

Originally Posted by slimOl55

Yea! - i got the ball rolling on this subject. Besides the obvious unknown unknowns.. what are your thoughts on how you would handle this type of event when the financial authorities issue new money and reject the old stuff. Just a thought guys and gals.

Currency has never been a good long term store of value. Ownership of assets, financial or real, is much, much better. People will pay rent in whatever currency is then in use.

Consider someone who put $100 in the Dow30 stocks or US Treasury bond in 1930 vs someone who just held on to the cash.

The $100 in cash would today have maybe $10 inn1930 buying power, the stocks or bonds would have held their value. A house would have too.

Moral of the story: "idle cash disappears"

[Roubignol]

Originally Posted by deepsepia

Currency has never been a good long term store of value. Ownership of assets, financial or real, is much, much better. People will pay rent in whatever currency is then in use.

Consider someone who put $100 in the Dow30 stocks or US Treasury bond in 1930 vs someone who just held on to the cash.

The $100 in cash would today have maybe $10 inn1930 buying power, the stocks or bonds would have held their value. A house would have too.

Moral of the story: "idle cash disappears"

That's true, but why?
Isn't it because the system (mainly the old and the rich people) want to push the younger and the poorer to work for them?
I don't see no other reason.

[deepsepia]

Originally Posted by xyzde69

That's true, but why?
Isn't it because the system (mainly the old and the rich people) want to push the younger and the poorer to work for them?
I don't see no other reason.

No, it's about the time value of money.

When you do nothing with money you'll lose a step in purchasing power vs someone who does do something with it.

[Roubignol]

Originally Posted by deepsepia

No, it's about the time value of money.

When you do nothing with money you'll lose a step in purchasing power vs someone who does do something with it.

But you also can try to do something with your money and lose everything.

They don't want to let us to live... peacefully.

[deepsepia]

Originally Posted by xyzde69

But you also can try to do something with your money and lose everything.

They don't want to let us to live... peacefully.

There's no"they" at work here. Cash is instantly liquid -- you can spend it in the next second. You pay for that instant liquidity - not much, but it's there. In periods of high inflation, the cost of holding cash will be huge.

So buy something. A government bond is safer than cash, and almost as liquid. The US government will sell you an inflation adjusted bond, meaning it guarantees stable purchasing power. Thats not a bad deal if you're afraid of losing money.

[LadyLuck]

Bitcoin prices plunged sharply to below $11,000 on Friday, shedding a third of its value in just 24 hours, according to data from CoinDesk.com. It later rebounded slightly to around $12,000 -- but that's still a stunning 25% less valuable than bitcoin was Thursday morning. Prices had approached $20,000 as recently as Sunday.

http://money.cnn.com/2017/12/22/inve...14k/index.html

[bowlinggreen]

Originally Posted by LadyLuck

Bitcoin prices plunged sharply to below $11,000 on Friday, shedding a third of its value in just 24 hours, according to data from CoinDesk.com. It later rebounded slightly to around $12,000 -- but that's still a stunning 25% less valuable than bitcoin was Thursday morning. Prices had approached $20,000 as recently as Sunday.

http://money.cnn.com/2017/12/22/inve...14k/index.html

This bubble will pop sooner or later. Bitcoins will go back to being worth a few tens of dollars, if that.

That said, I wish I had bought a few hundred dollars worth back when you could get them for a few bucks apiece. I could have cashed out last week and been set for life.