The Future of Money and Historical Perspective

[LDAHL]

All the latest pronouncements that Bitcoin is dead are quashed here:
https://www.cryptocoinsnews.com/bitcoin-dead-dumb/

It's getting old, these uninformed/misinformed arguments which never hold water.

How is a lot of puerile name-calling an argument?

[Xmac]

How is a lot of puerile name-calling an argument?

Ahh, the "vultures and starving dogs" thing. Yup, it is puerile name calling. I certainly apologize if anyone took that as me calling them that. I posted that because it addresses many of the nonsensical positions routinely taken about Bitcoin.

I will say however, that I understand the exasperation that prompted them to name call because those in the media, et al, routinely disseminate opinions based on what appears to be either negligence in due diligence or worse.

This is an example of such, past predictions of the demise of Bitcoin and there are a lot them:
http://bitcoinobituaries.com/

[Xmac]

I've belonged to an investment discussion group for about 20 years now. One of our longstanding rules is that we post our trades. Eliminates much of the puffery, and weeds out the fantasy-football types.

This is not an investment discussion group, not this thread anyway.

The purpose of this thread is not to advocate investing in Bitcoin the currency or even a Bitcoin company like Bitpay, for example. Although when I was asked, I respond as I already have: one to five percent of discretionary income.

My purpose was to offset the false information that is routinely disseminated by those who are invested in the status quo and to share a new vision of commerce that is twenty first century, old paradigm shattering, disruptive of legacy banking and financial institutions, empowering to the poor, egalitarian (a form of non-violent constructive program).

So bae, I guess I'd like to hear your explanation as to why, in a period (a year) of such steep decline in price, the investment rate in the technology of Bitcoin continues to rise dramatically? Are these entrepreneurs, who are investing to the tune of hundreds of millions of dollars, all fantasy-football types? That would seem to suggest a level of puffery that would be high, even for the most dedicated naysayer.

If I agreed to send you a dollar's worth of Bitcoin would you learn how to receive it?

[bae]

This is not an investment discussion group, not this thread anyway.

The purpose of this thread is not to advocate investing in Bitcoin the currency or even a Bitcoin company like Bitpay, for example. Although when I was asked, I respond as I already have: one to five percent of discretionary income.

No, you went quite a bit further. You encouraged investment in Bitcoin, with a 3-year horizon:

If one has money they know they won't need for at least three years, I'd invest one to five percent of my disposable income in it. Why, because it has become increasingly stable and the long term outlook is favorable for growth.

So bae, I guess I'd like to hear your explanation as to why, in a period (a year) of such steep decline in price, the investment rate in the technology of Bitcoin continues to rise dramatically? Are these entrepreneurs, who are investing to the tune of hundreds of millions of dollars, all fantasy-football types? That would seem to suggest a level of puffery that would be high, even for the most dedicated naysayer.

I am not the one making the bold claims about the future of bitcoin and the block chain technology - the burden is on you. I have however asked *you* what investments you are making in this area, and how, and you dodge and weave. That speaks volumes.

If I agreed to send you a dollar's worth of Bitcoin would you learn how to receive it?

Nope. Say Bitcoin soars 20x over the next 3 years. I'd make $20 pre-tax profit, for the cost of 5-10 minutes to set up a wallet, and another 5 minutes to think of some way of remembering the keys in a useful fashion. Not really worth the time, I'd rather spend it chopping firewood or something useful.

[Xmac]

No, you went quite a bit further. You encouraged investment in Bitcoin, with a 3-year horizon

I said at least a three year time horizon.
Suggesting a time horizon is quite a bit further?

I also said:
Yes, dollar cost averaging in over a five year time horizon would yield comparable returns to that of other similar speculative ventures. This is why it would be only part of a diversified portfolio.

I am not the one making the bold claims about the future of bitcoin and the block chain technology - the burden is on you./

Interpretation: "I can't explain it Xmac, because all I've got is sarcasm, diversionary tactics (like posting about Bitcoin price) and avoidance. Talking about the substance and merits of the videos you posted are too much work and might mean I'd have to open my mind".

I have however asked *you* what investments you are making in this area, and how, and you dodge and weave. That speaks volumes.

Yes, volumes. You're not interested in discussing what's relevant.

I've followed my own advice. Beyond that, it's nobody's business as to the particulars. As I said this is not an investment club. If you'd like to lay out your investment details on a public forum, be my guest.

Nope. Say Bitcoin soars 20x over the next 3 years. I'd make $20 pre-tax profit, for the cost of 5-10 minutes to set up a wallet, and another 5 minutes to think of some way of remembering the keys in a useful fashion. Not really worth the time, I'd rather spend it chopping firewood or something useful.

1. One doesn't have to memorize one's key (not necessarily keyS) without any added security risk.
2. No? To 20x over the next 3 years? I'll take that as recognition of the earnings potential and your level of investment savvy.

[bae]

Wow.

[bae]

https://medium.com/@octskyward/the-r...1f7#.5pyv27ycw

So, there's that....

[Xmac]

Wow, $9000 tonight. That's a 42x bagger....and it didn't even take 3 years.

[LDAHL]

What I have trouble understanding are the fundamentals that are pushing Bitcoin up. With a conventional investment security, you can evaluate things like market share, credit quality or new products in the pipeline. What can we point to that explains Bitcoin's recent rise, other than the exuberance of its enthusiasts? Are the major traditional currencies expected to collapse? Is it similar to a spike in gold prices? Is it truly a revolution in finance, or a sort of digital beanie baby? The whole phenomenon seem aromatic of a bubble to me.

[dmc]

Wow, $9000 tonight. That's a 42x bagger....and it didn't even take 3 years.

Congrats,

still not for me .