Bitcoin to 500k by 2030

[chuckz28]

and you think fiat isn't fundamentally flawed?

Yes flawed but it has the backing of governments. It's only as good as that governments word but that is better than Bitcoin which has nothing.

[Bouncer]

He understands that it's all speculation. Money can be made on speculation for sure, just like money can be made on pyramid schemes (Bernie Madoff). Doesn't mean it isn't fundamentally flawed.

and you think fiat isn't fundamentally flawed?

[chuckz28]

warren buffett sticks with stuff he understands. he once said he saw no value or future in amazon.com and has since admitted he totally undervalued and misunderstood what it was all about.

He understands that it's all speculation. Money can be made on speculation for sure, just like money can be made on pyramid schemes (Bernie Madoff). Doesn't mean it isn't fundamentally flawed.

[Bouncer]

Neither does Warren buffet lol https://www.google.com/amp/s/www.cnb...nvestment.html

warren buffett sticks with stuff he understands. he once said he saw no value or future in amazon.com and has since admitted he totally undervalued and misunderstood what it was all about.

[chuckz28]

okay bro. the ceo of the company that owns the NYSE knows nothing. :)

https://www.wsj.com/articles/nyses-o...cts-1533315263

Bitcoin Could be ‘First Worldwide Currency’: NYSE Owner

https://www.ccn.com/bitcoin-could-be...cy-nyse-owner/

Neither does Warren buffet lol https://www.google.com/amp/s/www.cnb...nvestment.html

[Bouncer]

https://markets.businessinsider.com/...8-8-1027429844

:hibb:

they hate it so much they are getting into the crypto buisness. lol

https://sludgefeed.com/goldman-sachs...stody-service/

[Bouncer]

Companies wanting to create their own chuck e cheese coins trading with others of the same thing is a joke.

okay bro. the ceo of the company that owns the NYSE knows nothing. :)

https://www.wsj.com/articles/nyses-o...cts-1533315263

Bitcoin Could be ‘First Worldwide Currency’: NYSE Owner

https://www.ccn.com/bitcoin-could-be...cy-nyse-owner/

[chuckz28]

https://markets.businessinsider.com/...8-8-1027429844

[chuckz28]

you haven't been paying attention at all. massive institutions including the owner of the NYSE are very much involved. gov regulated exchanges are very much involved.

https://www.nasdaq.com/article/inter...20180803-00433

https://thenextweb.com/hardfork/2018...rency-custody/

Companies wanting to create their own chuck e cheese coins trading with others of the same thing is a joke.

[Bouncer]

it has no institutional or government backing of any kind

you haven't been paying attention at all. massive institutions including the owner of the NYSE are very much involved. gov regulated exchanges are very much involved.

https://www.nasdaq.com/article/inter...20180803-00433

https://thenextweb.com/hardfork/2018...rency-custody/

[chuckz28]

US DEA: Criminal Activity in Cryptocurrency Has Dropped 80 Percent Since 2013

An agent of the U.S. Drug Enforcement Administration (DEA) has noted that Bitcoin’s (BTC) role in crimes has dropped to just 10 percent of transactions, while transactions themselves have “grown tremendously,” Bloomberg reports August 7.

In an interview, DEA special agent Lilita Infante — who is a member of the 10-person Cyber Investigative Task Force — said that the ratio of legitimate to illegitimate Bitcoin transactions had flipped over the past five years, noting

“The volume has grown tremendously, the amount of transactions and the dollar value has grown tremendously over the years in criminal activity, but the ratio has decreased.”

The concept of criminals turning to cryptocurrency as an alternative to cash has traditionally formed a central argument used by those critical of Bitcoin’s future.

Regulators too have set about tackling the perceived usage of cryptocurrency for illicit purposes, often associated with terrorism and money laundering.

As Bitcoin’s popularity has grown, however, it is now legitimate trading which forms the overwhelming majority of activity, with Infante noting that the “majority of transactions are used for price speculation.”

She added that although privacy-focused altcoins are less liquid and more anonymous than BTC, the DEA “still has ways of tracking” currencies such as Monero and Zcash. Infante concluded,

“The blockchain actually gives us a lot of tools to be able to identify people. I actually want them to keep using them [cryptocurrencies].’’

At a U.S. House public meeting on digital assets in mid-July, Andreessen Horowitz managing partner Scott Kupor suggested that “Bitcoin is law enforcement’s best friend” due to the ability to track illicit transactions on the blockchain.

https://cointelegraph.com/news/us-de...ent-since-2013

Hmmm. So law enforcement has no issue tracking transactions, the overwhelming majority of transactions are from price speculation, and it has no institutional or government backing of any kind, or anything physical to hold. Remind me again why anyone should buy this trash?

I get that digital currency is the way of the future and all but I still don't see how any of these non backed, made in your basement, forms of it will ever be accepted for use by governments and general society.

[Bouncer]

US DEA: Criminal Activity in Cryptocurrency Has Dropped 80 Percent Since 2013

An agent of the U.S. Drug Enforcement Administration (DEA) has noted that Bitcoin’s (BTC) role in crimes has dropped to just 10 percent of transactions, while transactions themselves have “grown tremendously,” Bloomberg reports August 7.

In an interview, DEA special agent Lilita Infante — who is a member of the 10-person Cyber Investigative Task Force — said that the ratio of legitimate to illegitimate Bitcoin transactions had flipped over the past five years, noting

“The volume has grown tremendously, the amount of transactions and the dollar value has grown tremendously over the years in criminal activity, but the ratio has decreased.”

The concept of criminals turning to cryptocurrency as an alternative to cash has traditionally formed a central argument used by those critical of Bitcoin’s future.

Regulators too have set about tackling the perceived usage of cryptocurrency for illicit purposes, often associated with terrorism and money laundering.

As Bitcoin’s popularity has grown, however, it is now legitimate trading which forms the overwhelming majority of activity, with Infante noting that the “majority of transactions are used for price speculation.”

She added that although privacy-focused altcoins are less liquid and more anonymous than BTC, the DEA “still has ways of tracking” currencies such as Monero and Zcash. Infante concluded,

“The blockchain actually gives us a lot of tools to be able to identify people. I actually want them to keep using them [cryptocurrencies].’’

At a U.S. House public meeting on digital assets in mid-July, Andreessen Horowitz managing partner Scott Kupor suggested that “Bitcoin is law enforcement’s best friend” due to the ability to track illicit transactions on the blockchain.

https://cointelegraph.com/news/us-de...ent-since-2013

[Keiser]

Traps!!! He's back.

[Bouncer]

Bouncer you did a full 180 on btc and crypto in general. Good to see. Maybe if btc hits 100k I'll be able to smoke scrums turbo 4 cylinder ... Or wait I can already do that in my 5000 lb. brick lol albeit I'll be getting 9 miles per gallon in the process.

With today's massive news and no price action it's a pretty solid confirmation to me that we are going to continue into a bear market for awhile. The news today should have sent us up at least a couple hundred. Instead we got zero movement. Weird ass market.

Sent from my Moto G6 using Tapatalk

[TrapsBrah]

Bouncer you did a full 180 on btc and crypto in general. Good to see. Maybe if btc hits 100k I'll be able to smoke scrums turbo 4 cylinder ... Or wait I can already do that in my 5000 lb. brick lol albeit I'll be getting 9 miles per gallon in the process.