@RR your outdated analysis from last week doesn’t show the true price of bitcoin topping $16k as of today. Try to keep up!

Don’t even try to do the math on Ethereum, you’ll think you’re off by a decimal or two. You aren’t.

However, to be fair, the intent of my comment wasn’t that it’s a great investment. Indeed if bitcoin were to plummet 50% or go up another 50%, this would be meaningless from a technical perspective. Same with Ethereum.

My point was that these technologies are not Ponzi schemes, nor do they need any defending. They are the future of the digital world both as a currency and on a much broader scale. Exciting times.

Well, let’s see. If you bought a bitcoin in June 2014 for $621, today it would be worth roughly $11,279 — 12/4/17.

Heck, that’s growing even faster than my FDIC insured savings account, paying maybe 5/100 of a percent annually.

How’s that whole “ethereum” thing I mentioned doing?

Just checking.

Everyone thinks they’re an expert on bitcoin while possessing little knowledge of the intricacies of it.

If you want to talk about its volatile exchange rate, that’s a different discussion and involves market hysteria and other currencies. But from a technical perspective bitcoin does exactly what it says it will do so it doesn’t need defending and there is nothing misleading about it.

Here are a couple advantages of Bitcoin:
– Once you receive bitcoins (securely on your local wallet), it is impossible for anyone to confiscate them from you. This includes the government which is more and more of a concern for folks (particularly OUTSIDE of the US).
-Bitcoins cannot be counterfeited.
-Bitcoins cannot be inflated — there are a set number that will be in existence.
-Bitcoins can be used 100% anonymously.
-Bitcoins can be transferred without a 3rd party via the internet.

All of these are attributes that the US Dollar does not possess. While some argue that bitcoin is a scam because it’s not backed by anything, they seem to forget that neither is the US Dollar. The US Dollar is ONLY more stable because more people use it.

My 2 cents on the subject, and I’ve read plenty on it, is that BitCoin is the Myspace of crypto currency. It is very interesting, but it is only the beginning of a peer to peer verification process that has truly limitless possibilities. There are several other services trying to do things better than Bitcoin. One that stands out is Ethereum, which comes online at the end of the year. The possibility for private crypto-currency backed by whatever folks want, opens the door for a completely new currency market.

Good luck.

It’s like Cap and Trade. You make up some words, numbers, fees, regulations and have globalist bankers nod all is ok. Start trading!

Can someone explain this?