RE:Bitcoin or sleeping at night.. I agree. they have created a vehicle for shorting which prior to tomorrow did not exist.
I don't know when they will start shorting the electronic currency but you know just
like the.com phase...its gonna happen at some point.
I honest ta christ wish YD had not gone into the Blockchain/Crypto Currency mania cuz that
is not why i invested in them in the first place. it was their AI/AR enterprise model.
at least my position here is free and clear having sold half this past january
in the .40s from its .165 original entry prices-so whatever happens happens as I have
derisked my exposure already.
TonkaDog wrote: Bitcoin futures start tomorrow in Chicago (other markets are begining to follow suit)...watch the wealthy start shorting the cr*p out of this.
Cboe Global Markets Inc. will begin offering Bitcoin futures tomorrow, Sunday December 10. CME Group Inc. will do the same Dec. 18.
Whether you go long or short...This may be the date we, in hindsight, will say the 'Bitcoin Bubble started to thin'...because of wealth manipulatoin via shorting (very, very few people possess the wealth to short, say 10,000 or more bitcoins), hackers and theft, fear and profit taking. So many negative variants can occur once the general public reaches the tipping point where common sense, coupled with said fear and greed (and the ever possible panic run), says 'cash in before we're f*cked'. Swings will have a field day, month...possibly even longer.
Etherum is working on being scalable and secure.
IOTA is governed by a German non-profit with Microsoft involved. Some people think BIll Gate's company is smart and prudent. The word I would use is 'reliable'.
Maybe bitcoin will stay 'long and strong' and continue elevating...yet, I'm worried of those rubbing their hands in anticipation for futures (and shorting)...and the general public starts applying for margins, loans, mortgaging their homes to 'get in before it's too late to make (fantastical) millions'.
One couple in British Columbia, Canada...decided to pour their life savings to begin mining Bitcoin...ironically the husband claiming "If I was looking for get-rich-quick, I would've just bought bitcoin, and just sat there and crossed my fingers — and that would be really taking a chance...I was looking for something that was a little bit more stable." (source: https://www.cbc.ca/news/business/bitcoin-mine-canada-1.4436149)
That's the epitome of logical dissonance. Financial misappropriation of retirement security previously stable.
They are not the only ones.
As bitcoin gets bigger and easier public access...so shoud the obligations of governments to start regulating it...I doubt '$50K a Bitcoin in the next year', as predicted by a well-known security expert, will be achievable. I certainly wonder if we'll actually see him backtracking on "eating his own d*ck".
Responsible govenments know there's going to be a significant (and financially harmful) correction to Bitcoin, in turn causing sell-off that the general public will react adversely. It behooves responsible governments, in good faith, to regulate this explosive and always controversial digital abstract of monetary affluence. Not only to remove the criminal element, realize tax implications...but to actually protect their citizens. On a humanistic level, there's the environmental harm of mining Bitcoin in the increased consumption of electricity, even by self-professed environmental activists.
Who believes Bitcoin will reach $1 million value? $500,000 value? Even $100,000? Every month, another reported theft of tens of millions in Bitcoins occurs. There's no insurance...very often those 'investors' are left 'holding the bag'.
I like Blockchain in general...though Blockchain is similar to OS software...each companies' unique software version is going to be hit-and-miss relative to their success in the stock market. It's a beneficial evolution of the internet.
There's so many other commodities (and markets) where growth is either comparable, if not greater than Bitcoin's growth. I carry a small interest in some, which I consider myself very fortunate. I've lost money in others. The stock market, much like Bitcoin, is entirely a gamble, with often less success that going to Las Vegas...
I considered mining BItcoin in late 2016 (when it was in the hundreds of dollars, not thousands now) but decided not to. I do not regret my decision. I don't like that kind of stress.
For those of you that hold Bitcoin, I have the greatest respect for you all. I get little sleep as it is...even with stop limits, I like to watch what happens real time. Maybe it's a control issue...maybe I simply like to sleep my 5 or 6 hours a night peacefully.
Always, always execute due diligence.
Warren Buffet's BRK is at $294,385.34 at Friday's close. I'd mortgage my house for that...not Bitcoin. I don't like living in a tent.