Stu, LOL..... Unfortunately I fear this is short lived as the cartel that runs the most powerful monetary currency the world has ever seen doesn't like competition nor does the bankers that whisper in their ears and funds their campaigns... http://www.zerohedge.com/news/2017-06-14/you-wont-believe-stupid-new-law-against-cash-and-bitcoin
Speaking of maintaining a monopoly this article does wonders for my cynicism in all things govt.... http://alternativemediasyndicate.com/2016/01/14/declassified-emails-reveal-nato-killed-gaddafi-stop-libyan-creation-gold-backed-currency/
Well can't say I didn't tell you Bitcoin is pushing $11,000 Ethereum is $500 Heck my online gaming casino token is up 35% :shock: Current investment up by five times since I started May1 when bitcoin was at $1,540 and Ethereum was $39.00 Forecast is bitcoin will be $30K this time next year and Ethereum $2K... I have made a few mistakes along the way and probably should have made more money but I got fancy and purchased a few tokens outside the mainstream market. Sad thing is I've made more on my crypto currency than my large sum invested in my annuity and it's locked down for ten years. Only 4% of the population is involved with digital currency at the moment, once it goes mainstream watch out for the boom.
I totally get it, heck my in-laws and outlaws who I discussed it with over the Thanksgiving holiday looked at me like I had three eyeballs... My wife did as well early on and was kind enough to send me every negative article concerning crypto currency known to mankind until it kept growing and growing. Now for some reason she thinks its OUR portfolio when just a short time ago she referred it as your risky stuff, lol... A young salesman who calls on me made the plunge and bought a $100 of Ethereum at the price of $345 a few months ago and the market immediately died and stagnated. He toughed it out and just ignored it as he waited for the market to wake up. It's not much but his $100 is now worth $150 as the market moved up incrementally. He called me this morning and is going to expand his purchasing every chance he gets... I missed the tech boom because I was too nervous and too poor to really even consider buying. Amazon, Apple and others were there for the taking but folks said it would never fly and I was dirt poor. Most investment in the tech boom flowered quickly and died just as fast, but some survive today. I'm very conservative as well and wish I wasn't...Here is an example... I put $225,000 into an annuity with a guaranteed 8% return that is locked in for ten years ago. We did that one year ago. We met with our financial adviser on Monday and we made $25,000 in one year on our investment. Not bad actually and very safe and sound and hopefully it provides us stability toward our eventual retirement one day. If 8) and I mean IF :shock: I would have taken that same $225,000 and invested it in Bitcoin on May 1, 2017 it would currently be worth $1,607,142.85 and in only 7 months... Now I'm just a working stiff who lives a dull and uneventful life and have forgone the toys just to be able to have $225K to stick into an annuity. This is a lot of money to me so I could not risk it on crypto currency. But if I would have done so with the total sum or even half my portfolio would be much different at the moment. As it stands I believe I will make it up but it will take me longer because of my small investment...Sorry for the long winded response...
Interesting thing is I waited until our financial adviser was done talking about the annuity and its accomplishments it made in one year. I popped open the app on my phone showing my crypto portfolio and said I made the same amount and more with just $9,000 in less than a year. His eyes got big and he mumbled he doesn't know a thing about crypto but can I please send him all the information that I could....
I hate being poor at the moment. My group of friends who range from say 50 to 30 are almost exclusively involved with bitcoin and they are making a killing. I just don't have the money to make any real jump, but I am going to when I get the chance. I'll start small and see where it goes. A couple of my nerd buddies got into crypto currency because of the amount of shopping they do on the dark net. They began to notice that during the stretches they weren't spending money, they were making a bunch of it. Now, it's basically their second job.
8) I'm thinking of starting my own currency called JO'Coins. I'll allow you lads to get in on the ground floor for a measly $1,200 per unit. It's a sure thing...
I’m just mad I didn’t buy it when my son was in college and he was calling me 3 years ago saying Dad, bitcoin is $130 a coin, I think it’s a good investment.... That being said this current FOMO (feeling of missing out, I had to ask my son what it meant) is beyond crazy and I am expecting a temporary crash on bitcoin as the professionals in the money arena profit. I’m also nervous as bitcoin futures will be traded starting Monday. I think that by itself will hamper movement. That being said this is not going away and cough, cough am selling most of my gun collection to pour more funds into crypto currency. I’m only up by 400% on my original coin investment so it needs work. 8) If anyone has interest in pursuing this Wild West investment please be patient and buy when it’s making headlines for crashing to capitalize on your money. Because regardless of what anyone says it’s going to be $30,000 a bitcoin this time next year. Also consider a coin called Ethereum, it’s way ahead of bitcoin at its growth stage and was designed as a development platform and is the foundation for most coins using the block chain....
https://www.cnbc.com/2017/12/08/bitcoin-is-dangerous-and-akin-to-tulip-bulb-mania-stefan-ingves-says.html Make sure we listen to the above expertise, because as we ALL know, central banks and international regulators only have OUR best interest in mind...Bahahahahaha... Hey Stu, let me know when you want me to send you a dozen tulips, I can damn sure afford them these days...$$$
Just a word of caution; Bitcoin has nothing to back it up...no dividends, interest, equipment, buildings, infrastructure...anything. It is only worth what you can get somebody else to pay you for it...and it's ethereal. Tulips on the other hand...
First let me apologize Stu if I came across mean spirited in my response because that’s how I took it after re-reading it again. I realize you are trying to only warn of the possibility of a bubble and collapse. The scenario I responded in was I just spoke with a friend I introduced digital currency with who was so excited at his earnings as a 20 something year old, I just realized personally I was up another $10,000 since last night prior to reading your tulip picture. The attitude was beyond cocky as I replied to your post. That being said yes I have heard over and over again it’s a pyramid scheme but Bernie Maddox hasn’t shown up yet holding Steven Spielberg’s Yamaka as collateral. Then it’s referred to it’s a bubble, yeah did I tell ya it’s a bubble yet..It’s a bubble...Meanwhile 9 years later Bitcoin is still moving forward..Think about it, 9 years, that’s 8 years longer than the famous tulip mania reference that was brought up about $15,000 ago or when bitcoin was about $30.... Then you have the banks, regulators and govt crying out how bad this is...Hmmm, do you think there may just be the possibility that this goes against their little fiefdoms that have been established for a couple hundred years. I mean, everyone knows if you want to earn interest put your money in the bank, come on it’s always been done that way, it has to be what’s best for everyone. If you don’t do it this way you could lose your money, hey you... You could lose your money...And on que the regulators speak up, it’s not safe, hey you, that’s not safe, only drug cartels use this, and evil people who venture into the dark web... Meanwhile ahhh, just ignore that cocaine that’s on 67% of American currency, nothing to see here...Move along, move along...The Federal reserve will protect your money...Just my luck, I guess they never noticed the $150,000 I lost in two economy crashes on my 401K or the .45% I’m currently earning with my savings... Gentlemen welcome to the future where the unabashed decentralized Internet is king, where the nerdy gamer guys who are just passed having acne but can write computer code in five computer languages are now making Wall Street green with envy. If Sid loses his wallet in Cairo he’s thinking oh crap or worse, maybe he can negotiate with Western Union and get wired some money at a nominal fee. Or he can whip out his smart phone and look up that smart ass Ralph in Florida, send him a text explaining his issue and Ralph can instantaneous send him some bitcoin or ethereum at zero charge to his coin app on his phone, wala Sid has money... I’m up 400% in seven months, it would be many times more if I would have ignored the naysayers 3 years ago, it’s hard to argue the math. I personally don’t have much bitcoin, I feel it’s outdated to be honest. I like Ethereum that is not only a currency but it’s a platform that allows a smart contract to run on a decentralized network without any possibility of fraud, censorship or third party interface. Or Golem which is built on top the Ethereum blockchain is on track to becoming the worlds most powerful decentralized supercomputer. This computer will process anything from academia to rendering block buster movies.... There is much more to this digital currency than what the market media is portraying....