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Sunday, December 10, 2017 9:09:18 AM
32% of the people in Puerto Rico still do not have electricity. I wonder how their Bitcoin transactions are going? One of the investors on Shark Tank was going to use Bitcoin in a transaction with someone in Europe. The European wanted a guarantee on the Bitcoin. They couldn't make the transaction work. LOL. Here is the article.
https://www.cnbc.com/2017/12/07/kevin-oleary-bitcoin-is-an-asset-not-a-currency.html
As Kevin O'Leary says, "It isn't a currency. It's just too volatile for that."
Over 7 Billion people on the planet and 1,000 people own over half the Bitcoin. Yes this Crypto crap is taking over. LOL. I don't see the Chinese government buying Bitcoin. They are buying 30 tonnes of gold a month. I don't see the Russian Government buying Bitcoin. They are also buying 20-30 tonnes of gold a month. Turkey wasn't buying Bitcoin last quarter, they bought 30 tonnes of gold instead. The BRIC nations are preparing for trade amongst themselves with some kind of gold backing. There is no Bitcoin backing. If I want a digital currency I'll stick with the Dollar when using my debit or credit cards.
All Bitcoin is is an asset. Last I checked the Bitcoin was below $15,000. Imagine someone doing a transaction when it was trading at $19,340. Businesses can't afford to lose $3,000 hours after a transaction when cash flow is important. The day it went up thousands of dollars the system broke down. Couldn't handle the volume. Imagine when they get a flood of sellers all at once.
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