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Post by flutiewasrejected on Feb 11, 2021 10:04:00 GMT -5
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Post by newfieguy74 on Feb 11, 2021 10:20:54 GMT -5
Institutions who do not invest in cryptocurrency will be left behind. Here are some companies who have invested in Bitcoin: Tesla, Mass Mutual, Fidelity. Visa and Master Card are getting involved. In mid-october Bitcoin was at about $15,500. Today it is worth about $$48,000. HC's endowment managers are failing if they don't have an investment in Bitcoin.
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Post by WCHC Sports on Feb 11, 2021 10:29:18 GMT -5
Institutions who do not invest in cryptocurrency will be left behind. Here are some companies who have invested in Bitcoin: Tesla, Mass Mutual, Fidelity. Visa and Master Card are getting involved. In mid-october Bitcoin was at about $15,500. Today it is worth about $$48,000. HC's endowment managers are failing if they don't have an investment in Bitcoin. Careful, my friend. In October it was indeed $15,500 and at this moment, it's at $47,933. However, last March it was $3,926, down from $20,000. My point is that this is still a rather wildly-fluctuating asset with folks still determining if the coin itself will have fungible and intrinsic value. No doubt blockchain and distributed ledger is fantastic, but the coins themselves are still searching for their true and distinct nature outside of a speculative asset.
The "Gainz" as the kids are saying are the reward for the much larger risk. USD's stability and liquidity and "known entity" status is the trade off for steady inflation.
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Post by newfieguy74 on Feb 11, 2021 10:34:41 GMT -5
Yes, it is subject to fluctuation like any investment. But there is a finite amount of Bitcoins and when mainstream companies start investing heavily the price inevitably is going to go up. And when Visa and MC and Tesla and other companies say Bitcoin is going to be accepted for payment in the not too distant future it suggests that cryptocurrency is here to stay. And when Harvard and Yale's endowment managers are buying in it suggests that some investment in cryptocurrency is probably prudent. This is not a crazy Game Stop situation. I've read (but can't confirm) that Bitcoin is now the world's 8th largest currency.
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Post by KY Crusader 75 on Feb 11, 2021 11:07:37 GMT -5
Didn't Warren Buffett, an astute investor, make some comments about Bit-Coin, as in "stay away"?
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Post by WCHC Sports on Feb 11, 2021 15:03:26 GMT -5
Didn't Warren Buffett, an astute investor, make some comments about Bit-Coin, as in "stay away"? So did Jamie Dimon... but it's always a bad investment choice until it isn't!
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Post by Chu Chu on Feb 11, 2021 15:05:19 GMT -5
I have always made it a principle that I do not invest in products or investment schemes that I do not fully understand. At the moment, that include Bitcoin. Can anyone here explain it simply and well?
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Post by flutiewasrejected on Feb 11, 2021 15:10:58 GMT -5
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Post by newfieguy74 on Feb 11, 2021 15:14:54 GMT -5
I'm not a Bitcoin expert but some of the important aspects are: it's a digital currency not aligned with any government or central bank. The number of institutional investors (major companies, hedge funds, etc.) who are buying it grows every day; these are very smart people. There are a finite number of bitcoins. IIRC there will never be more than 21 million.
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Post by sader1970 on Feb 11, 2021 15:21:46 GMT -5
They have a Coinstar kiosk in my local Stop & Shop where bitcoins (or shares of bitcoins, I gather, since you folks said there are a finite number of them) are sold.
No interest. Then, again, I'm retired, old and on a fixed income and choose not to see my retirement income skyrocket one day and tank the next. That's just me and my need for safety and security . . . . . and why I wear two masks now.
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Post by KY Crusader 75 on Feb 11, 2021 15:37:32 GMT -5
what can you buy with BitCoin?
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Post by WCHC Sports on Feb 11, 2021 15:41:29 GMT -5
what can you buy with BitCoin? Just "Bitcoin," and pretty soon, a Tesla, for one. Lots of other folks-- traditionally on the dark web-- would only accept Bitcoin as payment because of its dissociation with any national currency. Many ransomware software attacks only accept Bitcoin as payment too.
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Post by newfieguy74 on Feb 11, 2021 15:50:08 GMT -5
In the not too distant future many companies and credit card companies will be accepting cryptocurrencies. If you bought a bitcoin in mid-October for 15K you could cash it in today for 48K and go buy yourself a nice car. I'm a lawyer and last year I went to a seminar by a title insurance co. and they anticipate that at some point people will be buying real estate with bitcoin.
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