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  1. Replies
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    That would be the best solution. Have one or two...

    That would be the best solution. Have one or two survive and the rest bite the dust. Then it might be a viable alternative.
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    I got the above quote from Wikipedia. So a...

    I got the above quote from Wikipedia.

    So a store is supposed to accept 1,384 different cryptos and know their current "value"? Get real. The only way cryptocurrency will work is if there are one...
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    Banks are totally corrupt and should never be...

    Banks are totally corrupt and should never be trusted. But as long as the government bails them out whenever they screw up, your money is safe.

    Who can you go to if Bitcoin suddenly decides to...
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    It's may be a good idea in theory, but it's...

    It's may be a good idea in theory, but it's backed by nothing. You can't just make up a currency and then state that it's worth 20 grand a bitcoin. Has to be backed by gold or a government that will...
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    Got this from Wikipedia: Man, that sounds...

    Got this from Wikipedia:

    Man, that sounds delicious! LOL!



    https://www.youtube.com/watch?v=bIahXVJrvT0"]https://www.youtube.com/watch?v=bIahXVJrvT0
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    Guess that cancels my plans to go to the...

    Guess that cancels my plans to go to the Amsterdam Falafelshop today! LOL! And I was hankering for a nice big salad for lunch, but SweetGreen won't take my cash. Bummer...


    P.S. The poster...
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    Yup, cash is king in my world. Ever go to a gas...

    Yup, cash is king in my world. Ever go to a gas station and find out their computers are down? Can't process debit or credit cards, sorry. Cash only. I always have at least $60 on me at all times to...
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    Methinks thou doth protest too much, Dave. You...

    Methinks thou doth protest too much, Dave. You seem VERY touchy whenever anyone states anything negative about cryptos. If you're not speculating in them, why do you care?
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    Boy, talk of the SEC regulating cryptos really...

    Boy, talk of the SEC regulating cryptos really shook up the speculators. All of the cryptos are dropping like a stone with no bottom in sight...
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    This is one of the big things that bothers me...

    This is one of the big things that bothers me about the whole setup. Why do you have to buy Bitcoin, then exchange it for the crypto that you want? Seems shady to me. Why can't you just buy any one...
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    Don't look now, but Bitcoin is crashing big time....

    Don't look now, but Bitcoin is crashing big time. Pump and dump, pump and dump, repeat ad infinitum...
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    Calling me a liar? Classic sign of a scam, call...

    Calling me a liar? Classic sign of a scam, call anyone who's against it a liar, stupid or not very knowledgeable. You two are trying too hard now. How about replying to my other post?
    ...
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    Another reason why I would never invest in...

    Another reason why I would never invest in Bitcoin. Insider trading and pumping up the price of Bitcoin and other cryptos:
    ...
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    But how many are actual transactions and not just...

    But how many are actual transactions and not just people buying and selling Bitcoin? The reason for all the spikes and crashes (and the volume) are due to people dumping the stock and then buying it...
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    Of course, Bitcoin isn't the only way to launder...

    Of course, Bitcoin isn't the only way to launder money. Check out these listings for canning jars. Why would 15 people pay $929.28 for 24 canning jars when you can buy the same jars for $38.34?...
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    No one said it will go away, but it will be...

    No one said it will go away, but it will be regulated (and taxed to death). But it will go away quickly if it's viewed as a scam by the powers that be. And if it's main purpose is to hide drug deals...
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    How many actual transactions take place each day...

    How many actual transactions take place each day with Bitcoins? All I see are people buying and selling it like it's a commodity, such as gold. The few stories I've read of actual transactions have...
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    How long do you think the government will put up...

    How long do you think the government will put up with that? B of A can't compete because they're heavily regulated. Just a matter of time before the Feds regulate cryptos to death. No way will they...
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    Unfortunately, the crypto craze looks very...

    Unfortunately, the crypto craze looks very similar to the dot com bubble. Just like the dot com craze, any fool can sell their cryptos online with nothing to back it up. So many of the dot com...
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    Some anonymous person bought $400 million in...

    Some anonymous person bought $400 million in Bitcoin stock and now it's trading for over 11 grand. Hard to imagine anyone having that kind of cash throwing it into Bitcoin. Seems shady to me. Watch...
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    I'm wondering why you have to pay a percentage...

    I'm wondering why you have to pay a percentage instead of a flat rate fee. When you buy stocks, you pay a flat fee, usually around $7.00 or so. Seems kind of greedy to be charging 1.49% per...
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    Don't forget all the fees and capital gains tax....

    Don't forget all the fees and capital gains tax. Those costs will eat into any profit. The cost to buy or sell Bitcoin is 1.49% per transaction. If you bought 9k worth, you would have paid $134.10 in...
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    Sorry to be so negative. You guys have a firm...

    Sorry to be so negative. You guys have a firm grasp regarding the risk, so good luck to you all.
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    The Fed never said Bitcoin and others were legit....

    The Fed never said Bitcoin and others were legit. They're just not sure if they have a legal right to mess with it. They'll have to create a committee and discuss it for the next year or two, while...
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    Classic symptoms of a Ponzi scheme. Those who...

    Classic symptoms of a Ponzi scheme. Those who have the stock (or "currency") keep trying to convince others to join in. And calling me a "hater" is ridiculous, as well. I don't hate Bitcoin, I just...
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    Of course they are, as you can see today. The...

    Of course they are, as you can see today. The short sellers need fluctuation to profit. Stable market means no profit for them.

    The game is rigged. I haven't bought a stock since the Facebook IPO...
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    Look at it this way. Say you have a stock that...

    Look at it this way. Say you have a stock that opened today at $5960.00 and seven hours later it was at $7,200.00. Then it drops to $5,550.00 the next morning, but goes back up to $7,000.00 by the...
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    Bitcoin was at $5,960.00 at 3 AM and now it's at...

    Bitcoin was at $5,960.00 at 3 AM and now it's at $7,200.00 seven hours later. It is obviously being manipulated by Bitfinex by buying up Bitcoin with Tether. And your chart is irrefutable proof...
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    My quote from January 21st. Stock market is down...

    My quote from January 21st. Stock market is down over 1,000 points today.
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    Okay, that'll be fun to see what happens.

    Okay, that'll be fun to see what happens.
  31. Replies
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    Yup, that's really sad. And it can happen with...

    Yup, that's really sad. And it can happen with ANY of these so-called "currencies". It's a grim reminder to never invest more money than you can afford to lose.

    The key to safe investing is...
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    Here's a really scary stat. Bitcoin was at...

    Here's a really scary stat. Bitcoin was at $16,954.78 on January 4th. Now just 30 days later, it's currently at $8,340.00 or so. That means it lost over HALF of it's value in one month. Doesn't take...
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    Yes, it has tanked dramatically. It went from...

    Yes, it has tanked dramatically. It went from $19.783.21 on December 17th to the current $8,400.00 or so. That's a HUGE loss for many people. Like any Ponzi scheme, the early investors made money and...
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    Since they're not regulated, it would be very...

    Since they're not regulated, it would be very easy for any (or all) of the cryptocurrencies to manipulate the price of their "currency". But the poop's going to hit the fan soon and all of these...
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    Sorry, but Bitcoin is a house of cards ready to...

    Sorry, but Bitcoin is a house of cards ready to collapse. It is being propped up by Bitfinex by buying Bitcoin with Tether. Here's what they're doing to keep the price up:
    ...
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    Bitcoin, Ripple and other cryptocurrencies are...

    Bitcoin, Ripple and other cryptocurrencies are falling like a rock this week. Bitcoin has now tanked to $8,400. Hate to say I told you so, but I did tell you it was too good to be true...
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    I really hope you guys get rich and come back...

    I really hope you guys get rich and come back here and brag about it. Not trying to discourage you, just don't want to see anyone lose their shirt over it. If you have money to play with, then...
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    Dave, enough of the condescending comments. I...

    Dave, enough of the condescending comments. I know exactly what they are. Maybe YOU should read this article from The Washington Post. His explanation is exactly how I view Bitcoin. It's just a Ponzi...
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    1) It's a fantasy currency. Nothing to back up...

    1) It's a fantasy currency. Nothing to back up the alleged "value" (gold, government backing, etc.).

    2) The inventor has 1 million shares. If he dumps his shares, Bitcoin will crash. Evener...
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    Here's what Warren Buffett had to say about...

    Here's what Warren Buffett had to say about Bitcoin and the other "currencies". When Warren Buffett talks, I listen.

    ...
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    Jason hit the nail on the head. If the dollar...

    Jason hit the nail on the head. If the dollar lost half it's value in a few months, panic would set in. Why would you think Bitcoin is any different? Bitcoin is not a safe currency if it fluctuates...
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    Bitcoin (and the rest of them) are Ponzi schemes....

    Bitcoin (and the rest of them) are Ponzi schemes. Those who get in at the beginning get rich, but the rest will get taken.

    Any "currency" that loses half it's value in a couple of months isn't a...
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