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I have an anecdote.
My friend is a retired professor of economics with a PhD in economics from Harvard.
He suggested that I buy some crypto, but not more than 1/2 of 1% of my financial net worth.
He said it's a scam; it's similar to gambling, but with better odds.
More recently he called to vent about his stress about cash flow; "I owe about 1 million and I'm not sure how I'm going to service the debt."
He used his house as a piggy bank to buy other things; one is a small apartment building which failed an inspection and he was dropped by the insurance company.
Anyway, it seems he has a gambler mentality and for this reason likes crypto.
So don't invest in it, just trade it.
I'm not a stock analysis junkie or wiz.
ransomwares crooks are able to take payment in Bitcoin without getting traced and caught?
If Bitcoin is not private
Bitcoin is more fiat than the fiat that you need to buy it with and the fiat you get when you sell it.
It's not even a good gamble.
The chief advantage of gold over bitcoin is that I can eat my gold, shit it out in the toilet, and recollect it unscathed. Let's try that with a bit wallet.
DemocratsAreTotallyFucked says
SoTex says
That's how I've made a ton of money from it.
The fact that Larry Fink of Blackrock endorsed Bitcoin and that it is readily available to institutional and retail investors through Bitcoin ETFs is enough to realize its here to stay.
AD says
The fact that Larry Fink of Blackrock endorsed Bitcoin and that it is readily available to institutional and retail investors through Bitcoin ETFs is enough to realize its here to stay.
Read what Larry Fink of Blackrock has publicly stated recently about Bitcoin, specifically after Bitcoin ETFs were made available to retail investors.
Read what Larry Fink of Blackrock has publicly stated recently about Bitcoin, specifically after Bitcoin ETFs were made available to retail investors.
As a fiat currency hedge, invest no more than 3% of assets or equivalent to one-half of a Bitcoin, whichever is greater.
Not a fan.
Don't bet against Larry Fink, which means don't bet against or count out Bitcoin.
Thing about gold is that if the price drops 70%, you still got the gold.
If Bitcoin drops 70%, it's probable that all the Bitcoin miners go bust because of the continuing expense of mining it. Then Bitcoin goes to ZERO because it requires the miners to have any value at all.
So, with Bitcoin there is an event horizon where it gets sucked into nothingness.
Dimon said later he regrets calling Bitcoin a fraud
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https://www.vox.com/2018/4/24/17275202/bitcoin-scam-cryptocurrency-mining-pump-dump-fraud-ico-value