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Bitcoin more likely to fall to $100 than $100,000


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2018 Mar 6, 7:31am   3,570 views  5 comments

by Onvacation   ➕follow (3)   💰tip   ignore  

"Basically, if you take away the possibility of money laundering and tax evasion, its actual uses as a transaction vehicle are very small," the former chief economist of the International Monetary Fund (IMF) said.

https://www.cnbc.com/2018/03/05/bitcoin-more-likely-to-be-100-than-100000-in-10-years-kenneth-rogoff.html

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1   Onvacation   2018 Mar 6, 9:49am  

What is the advantage of bitcoin?
2   NuttBoxer   2018 Mar 6, 11:21am  

Onvacation says
Basically, if you take away the possibility of money laundering and tax evasion, its actual uses as a transaction vehicle are very small


This is a very narrow view, with no forethought to the tech's future use, or even it's most common current use, retail purchasing. Rakuten, a company that is very big in Japan, recently announced that they will be converting their Super Points program over to bitcoin.
3   Onvacation   2018 Mar 7, 7:14am  

NuttBoxer says

This is a very narrow view, with no forethought to the tech's future use, or even it's most common current use, retail purchasing.

Visa is and will Probably always be easier.
Blockchain technology does have uses.

Bitcoin is a pyramid scheme. Those that got in early and cash out before the end will make money. Everyone else will be holding worthless bits.
4   Strategist   2018 Mar 7, 9:33pm  

Onvacation says
What is the advantage of bitcoin?


Money laundering, tax evasion, and illegal activities. No other use, which is why laws imposed by countries will destroy bitcoin.
5   WookieMan   2018 Mar 7, 9:55pm  

Strategist says
No other use, which is why laws imposed by countries will destroy bitcoin.


This has always been the issue. No rational country will just stand by and let their currency go to shit. I've yet to see a counter argument.

Blockchain is usually the first stage of the argument. Fine, shared google sheets can now do what it was designed to do and what blockchain supposedly does, I guess. Reinvent the wheel much? Second stage... well not sure what else bitcoin is good for when it trades in the USA based on the VALUE of the $. Fact is, if I want a big beer in a bag, I ain't buying it with bitcoin. I'll use my SouthWest card and fly for free anytime I want to go on a trip. Bitty don't do that.

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