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B402

10/20/21 11:18 AM

#388657 RE: blackhawks #388654

Thanks For The $10 Trillion, China

Well, its nice of them to give back some ;) After we made them a super power that is... Lol

Not sure about crypto, its either the future of currency or a dangerous bubble....Its out of my League to judge...

One thing for sure, people are making a lot of money off it...
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hookrider

10/20/21 12:35 PM

#388664 RE: blackhawks #388654

blackhawks: I don't know. It seems to me that people have enough of a problem counting the cash in there pockets and keeping there checking account up to date. Now they want to throw in crypto and/or bitcoin. Seems stupid to me!!!! IMO they are just making a fast buck off dumb ass people!!!!
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Zorax

10/20/21 2:57 PM

#388676 RE: blackhawks #388654

No reflection to you at all, but that link is to a well known bitcoin promoter/website and it's their job to promote bitcoin. But there are quite a few 'mistakes' in that promotional piece.
First, I'm relying on reads within the last few weeks with no links at this time, so my opinion is with a grain of salt. I will try to track where I've been on this subject for links.

One, a market cap for a entity is only a approximation at the moment, not an actual research of real fundamental value of a company and with a non regulated exchange, it means even less. The price we're seeing today is totally artificial and completely unsupported in the futures market with zero legal underwriters. There is no real entity, just a computer program globally hidden to all users.

Two, none of those big firms 'have skin in the game' because a few weeks ago many of them announced they are investigating the viability of using bitcoin. They are investigating, not investing, and aren't openly offering bitcoin in the mainstream, if at all at this time.

Three, there's a reason china did what they did, because bitcoin is still untraceable, exchanges are created one week and are gone the next, and china couldn't figure out how to have governmental control of any exchange because of their nature. Many exchanges today offered in the US are off shore, none of them are regulated in any legit way with the US government, regardless what these promotional sites say.

Four, energy costs for bitcoin are truly astronomical and there has been no real solutions to cut back on electricity costs. Then there's the loss of land and resources when someone opens a rendering farm on some pristine river property like out west and other countries and then shut down in a short time span when the price jumps up and down.

Five, our economy is a fluid point of sale, instant charge type mechanism with almost total electronic commerce.
We don't really need bitcoin, when we do everything electronically already instantly, and bitcoin can not be processed fast enough. Basically, if you actually can do a bitcoin transaction on the street, it's not really happening real time with bitcoin, they are processing through your credit card, and then later, hours later, attempting to balance out as a bitcoin transaction. A customer is not actually doing a bitcoin to bitcoin transaction, but more like a paypal or other service where traditional transaction is passed through your bank. Why do this?

In reality, the only money being made is the people creating exchanges and new coins out of the thin air and then shutting down and starting another one. And the speculators jumping the questionable exchanges running up the price to ridiculous unsustainable prices.

And promotional companies all over the internet are also making money and like political disinformation make ridiculous claims like:

Within five years I believe bitcoin will be at $500,000. That’s a $10 trillion market China just gave away to its biggest rival: The United States of America.

If it cannot be killed – and only 200 million people own it – that means you must own some as well.

Thanks For The $10 Trillion, China


This website is promoting bitcoin like a cheap penny stock. And again, I'm responding to the link and that website, not the messenger in any way.
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Zorax

10/20/21 4:36 PM

#388700 RE: blackhawks #388654

About that bitcoin website... when you see stuff like this, run far far away. 5G for a single newsletter?

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