Business tip only for my HA friends - buY bitcoins

[giovanni_hotel]

Looks like Bitcoin is a worthless investment -

Bitcoin is a fraud that will ultimately blow up, according to JP Morgan boss Jamie Dimon, who said the digital currency was only fit for use by drug dealers, murderers and people living in places such as North Korea.

Speaking at a conference in New York, the boss of America’s biggest bank said he would fire “in a second” anyone at the investment bank found to be trading in bitcoin. “For two reasons: it’s against our rules, and they’re stupid. And both are dangerous.”
He added: “The currency isn’t going to work. You can’t have a business where people can invent a currency out of thin air and think that people who are buying it are really smart.

Whole of the article is here- (and widely reported in the media)
https://www.theguardian.com/technolo...y-drug-dealers

Of course the boss at JP Morgan would shit on bitcoins.
I know someone who trades in bitcoins and swears they will become the digital currency of the new millennium.

I'm ambivalent and will wait until the bitcoin market is more established, but sorry if I don't take the word of Jamie Dimon as gospel.

Bitcoin is a direct threat to their business model.

[filghy2]

There's an old adage in the stock market; when grandma, cab drivers, etc. recommend buying stocks then sell all the stocks you have.

Wise words. It's amazing how people so readily fall for the notion that they can make easy money by jumping on the latest investment bandwagon. Has everyone forgotten what happened with the housing bubble 10 years ago or the hi-tech stocks bubble almost 20 years ago?

Bitcoin appears to have the hallmarks of a fad because it has no intrinsic value, so it's really only worth what people subjectively think it's worth. In particular, it seems to be favoured by anti-government types who think that money printing is going to erode the value of central bank money - even though these people have been wrong for the past 10 years

[Nikka]

I love when Bitcoins CEO´s jump from their buildings in Hong Kong

[Gillian]

What's that expression?

"If you can see the bandwagon ... it's already too late."

[broncofan]

Wise words. It's amazing how people so readily fall for the notion that they can make easy money by jumping on the latest investment bandwagon. Has everyone forgotten what happened with the housing bubble 10 years ago or the hi-tech stocks bubble almost 20 years ago?

Bitcoin appears to have the hallmarks of a fad because it has no intrinsic value, so it's really only worth what people subjectively think it's worth. In particular, it seems to be favoured by anti-government types who think that money printing is going to erode the value of central bank money - even though these people have been wrong for the past 10 years

I agree with everything you're saying about it being a fad. It could do well in the long-term if it becomes more widely used, but most are probably not buying it based on fundamentals.

Its lack of intrinsic value would not be fatal to any decision to purchase it if people were really trying to value it based on how effective a medium of exchange it will be and what goods and services it's likely to be able to claim. But it should not be enough to have just a general sense that this is the wave of the future since it is not backed by commodities or a government. Again, not fatal, but it does mean purchasing them is very speculative. The dutch tulip mania is the common example for an item where people have lost all touch with the determinants of value; if there is no intrinsic value you can make money in the near term, but you have no security if people flee to safer, more readily exchangeable instruments.

[Jericho]

In other words, don't keep all your shit in one crapper!

[NikaTS]

My NEO gains are giving me a raging boner

[pedman]

My NEO gains are giving me a raging boner

Would be happy to assist with said boner! 😮

[Nikka]

THE FUTURE!!!!

YOU ARE NOT A MUTATION, YOU ARE, EVOLUTION!

[Nikka]