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After my research the conclusion I draw that Bitcoin was bad and Blockchain technology good.
I have invested some small sums in Blockchain exposure aim listed companies about 3 weeks ago. (since sold)
A bitcoin Bubble pop is an event just waiting to happen.
I can not see how you can invest/gamble on something where inventor is a Mystery - Satoshi .Nakamoto white paper.
WEALTH WARNING :
Buyer beware Bitcoin Background sketchy!!!
( there is a CIA conspiracy theory circulating)
Coming soon Investorsk8.com
Wisdom - an integration of knowledge, experience, and deep understanding that incorporates tolerance for the uncertainties of life as well as its ups and downs.
It's very interesting to see how Bitcoin has gained such traction in a relatively short space of time. Generally, when there is a gold rush, it's usually the people selling the shovels that make the most money.When something is rising exponentially, it is hard to see how that can sustainable.As with most things, only time will tell.
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
After my research the conclusion I drew.
Bitcoin is Bad and Blockchain technology good.
I have invested some small sums in Blockchain exposure aim listed companies about 3 weeks ago.
I can not see how you can invest/gamble on something where inventory is not know it good offload his bitcoin at any time. Sadly im starting to think CIA conspiracy of creating a cryptocurrency to sucker in all black money, drugs money, illegal proceeds. Then POP, fiat money just vanishes.
What a perfect vehicle to lose money printing of the last decade also.
The South Korean government on Thursday said it plans to ban cryptocurrency trading, sending bitcoin prices plummeting and throwing the virtual coin market into turmoil as the nation's police and tax authorities raided local exchanges on alleged tax evasion.
The clampdown in South Korea, a crucial source of global demand for cryptocurrency, came as policymaker around the world struggled to regulate an asset whose value has skyrocketed over the last year.Full/source article
I lived and worked through the dotcom bubble and many similar things are happening now that happened back then.We are probably around 1999, so there isnt much time left before the bubble pops. What things happened back then? Companies operating in mundane business such as food changing their name and starting internet ventures and their shares then moving up sometimes 100% overnight.Other companies saying they will be launching websites are their shares doubling too. Shell companies appearing, with the intention of reversing an internet venure into themselves, being valued at many multiples of the cash value in the bank. Newspapers tipping internet companies and incubators usually to the tune of "has some very smart people in the boardroom with a lot of business nouse between them".Forward to today and the same things are happening, just replace internet with blockchain.
Hi saw this exact same graph just before the correction last week and sold my small share holdings in junior ISAs and wife's ISA ( small loss £50). Blockchain related shares which affected by stellar and general negativity. I believe it's about to pop!!
I personally feel that as with any novelty, one must purchase early, small amounts and get out when it is still on the 'up' slope. I sold most relatively early at £7000, but it is rediculous in my view to think that this is more valuable than gold for example (it sells under £1000 per oz). I expected correction much earlier. The crash is unfolding at present as predicted by Kam Kumar. It was a nice side income, creating a good source of fast liquidity and a way to expand the property portfolio.
It is amusing for me how people discuss this and don't even have a wallet. Investing in anything you don't understand is dangerous.
The big institutions don't need blockchain
They are already very adept at avoiding taxes.
They have functional and guaranteed processes already up and running.
Blockchain is just a way to avoid tax authorigins.
Govt will not allow this to occur otherwise they lose control of money supply.
Govt will not allow the citizen to bypass banks etc.
The black economy is a major part of all economies
To that will be added legitimate parts of the economy which Govt won't be able to control.
But most currencies are FIAT ones and are only sustainable if the bearer believes that ultimately the Govt will pay the value to a holder.
When that confidence goes you end up with Weimar Republic issues and we all know how that ended up.
Indeed the world still lives with the effects.
So far everyone believes the US Govt will honour it's debts of 17 trillion dollars.
The US will never repay that sovereign debt.
If China goes belly up that will precipitate a worldwide depression.
China is already refusing to buy US debt which is the reason the US can continue to live beyond its means
Bitcoin’s value was down by more than 16% yesterday, falling by $2,000 to as low as $10,000 on the Luxembourg-based Bitstamp exchange amid fears that Russia, China and South Korea may crack down on trading. Other cryptocurrencies such as Ethereum and Ripple have also dropped in value.Bitcoin speculative bubble is bursting and has a long way to fall, economists warn
Transaction speed and confirmation is too slow and for crims, its not as anonymous as the likes of Monero.As for Ripple (XRP), it can succeed potentially as a transfer system but of course that has nothing to do with the value of the coin XRP. Investment and bubble in cryptos in one of the last eefcts of ZIRP, where a lot of stuff gets funded that otherwise wouldnt and there is so much money chasing so few assets, that anything half likely of returning a short term profit gets the green light as far as funding or investment is concerned.QE taps are being turned off, so the music will stop soon enough.For now (2018 and poss part 2019) the music continues to play.