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Bitcoin - you might do well to read this

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    #21
    Originally posted by FrontEnder View Post
    Anyone who's used an exchange will know about KYC as every one I've used does the checks. I have to upload proof of address and ID.

    The impact of that would probably be minimal, if anything I think it would make it stronger as it legitimises it even more.

    agreed legitimizing BitCoin will increase trust and therefore attract a wider audience as an investment instrument

    so let's assume the world trusts bitcoin like they trust gold

    gold is simply a store of wealth, yes it is traded, but the majority use it as a store of wealth and as a store of wealth gold's price does not rise exponentially year on year

    and hence, when bitcoin reaches its stable price and the graph becomes horizontal

    what will the price of bitcoin be at that point when the price chart is level ? will that price be 20kU$D or 200k U$D ?

    when the price plateau's and there is no more upside, will all of the traders/speculators bale out ? or will they patiently sit and hold ?

    if the traders bale when the price stabilizes, ie when the price chart becomes flat, then the price is going to go through a correction

    how big will the correction be ?

    Milan

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      #22
      Originally posted by milanbenes View Post
      agreed legitimizing BitCoin will increase trust and therefore attract a wider audience as an investment instrument

      so let's assume the world trusts bitcoin like they trust gold

      gold is simply a store of wealth, yes it is traded, but the majority use it as a store of wealth and as a store of wealth gold's price does not rise exponentially year on year

      and hence, when bitcoin reaches its stable price and the graph becomes horizontal

      what will the price of bitcoin be at that point when the price chart is level ? will that price be 20kU$D or 200k U$D ?

      when the price plateau's and there is no more upside, will all of the traders/speculators bale out ? or will they patiently sit and hold ?

      if the traders bale when the price stabilizes, ie when the price chart becomes flat, then the price is going to go through a correction

      how big will the correction be ?

      Milan
      No one has a clue, as unfortunately predicting the future is one problem that blockchain can't solve.

      Comment


        #23
        Originally posted by FrontEnder View Post
        No one has a clue, as unfortunately predicting the future is one problem that blockchain can't solve.
        Governments will take over blockchain and everyone will move on. The question is when.

        Comment


          #24
          Originally posted by BrilloPad View Post
          Governments will take over blockchain and everyone will move on. The question is when.
          How would they do this?

          Comment


            #25
            Originally posted by FrontEnder View Post
            How would they do this?
            Retrospectively....

            Comment


              #26
              Bitcoin seems to be plateauing at the moment. Wouldn't touch it with a barge pole. At least Gold can be made into jewelry.
              I'm alright Jack

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                #27
                Originally posted by BlasterBates View Post
                Bitcoin seems to be plateauing at the moment.
                It's up over 15% in a week, you dope.

                Comment


                  #28
                  Originally posted by FrontEnder View Post
                  It's up over 15% in a week, you dope.
                  gotta love trader charts. You can see what you want to see.
                  See You Next Tuesday

                  Comment


                    #29
                    2018: The Year Central Banks Begin Buying Cryptocurrency | Zero Hedge

                    How it will happen
                    As the realisation of the systemic weakness of fiat currencies becomes apparent contrasted with the groundswell of cryptocurrency, the executive committee of central banks, including governors, presidents and chairpersons – will call emergency meetings to exercise their prerogative to deviate from the current investment policy for reserves management.

                    Bitcoin and other select cryptocurrencies will be added to the list of eligible securities and currencies. Central bank money will pour into cryptocurrencies.

                    Most G7 central banks will likely use external fund managers to invest in cryptocurrencies over this new epoch. But don’t expect this information to be freely available.

                    This will happen in the dark. Old habits die hard.
                    It's too big and widely adopted to ban/overregulate - it's too late, like 'fake news' on the Internet they cannot contain it.

                    I'm expecting heavy taxation and harsh laws against anonymity. They will try and control it by owning enough of it to manipulate the price - which will/is taking place now.

                    Moon!
                    "Is someone you don't like allowed to say something you don't like? If that is the case then we have free speech."- Elon Musk

                    Comment


                      #30
                      https://davidgerard.co.uk/blockchain...ely-fictional/
                      merely at clientco for the entertainment

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