Real Estate versus Bitcoin
Despite its volatility, Indians are using bitcoin as an alternative way to invest and pay for items following the country's demonetisation move in 2016
Speaking in an interview with Kitco News, Max Keiser shared his opinion on Bitcoin's recent market growth and criticized Warren Buffet and Jamie Dimon for their negative comments about the cryptocurrency.
“I know what’s going on now is that all these guys [Professional Investors] are building up their inventory. They need an inventory; they need a basis for Bitcoin that’s relatively low going forward. They are going to ramp this all the way up at a much higher price before they launch these futures products. Then you’re going to see volatility, but from a much higher level, and then the game gets even more interesting. That’s what you’re seeing this past week and a half...”
“When CME said green-light the futures, it’s a relatively peanut market compared to bond futures, currency futures, stock futures - it’s minuscule. The pros have got to get massive inventory at hand so they can play the games they like to play.”
“We are still talking about 10x gains from here in medium term. It [Bitcoin] will outperform stocks, bonds, gold. It’s going to outperform Warren Buffet. He famously compared Bitcoin to rat poison, and he is right! Guess what? Warren Buffet is the rat. Jamie Dimon is the rat.”
2. Bitcoin is a Bubble[There] are examples of terrorists using virtual currencies, but probably are not indicative of a major push. Right now, virtual currencies are harder to acquire and spend than, say, prepaid cards, or the most anonymous way to fund terrorism – cash. And most terrorists operate in a world where fiat, or government-backed, currency is needed for their expenditures, so a virtual currency where one has to figure out how to cash out without tipping off authorities only complicates a funding scheme.
7. Bitcoin is a Ponzi Scheme
Other positive comments on Bitcoin and the other virtual currencies“Bitcoin as a digital currency is not quite there yet. People are not using it to transact. People are using it as an investable asset. I personally am a believer in where digital currency can play a role in our society. Especially in, not only the front end of doing transactions but also in the back end of creating a much more efficient system and a much more verifiable system”.
First, the team. Who is behind the project? Do they have the ability to develop? Second, the price. If the price is already too high, then there is no room to rise further. Third, the user base. Is it listed on multiple exchanges? A coin must go global to rein in political risks. Fourth, patience. Forked coins will gain more traction, but it takes time.
Gold or digital gold"Buyers can make purchases with Bitcoin at any time, from nearly anywhere, just as with most credit cards. International orders become significantly easier as cryptocurrency like Bitcoin is accepted worldwide without conversion. Also, many customers prefer Bitcoin payment because of the anonymity offered by a Blockchain purchase.”
Charlie Bilello✔ @charliebilelloBitcoin's market cap just passed Visa's.
Yes, that Visa:
Largest electronic payment processor in the world
$8.9 trillion in 141 billion transactions per year
Across 160 currencies and over 200 countries$BTC.X $V
Other highlights of Ravikant’s speech"Money is a bubble that never pops. It's a consensus hallucination."
"One indicator we are in a very frothy environment is we have a lot of tokens trading at very high values that are junk. Right now, I think the market isn't distinguishing quality."
We expected this to happen, but not so fast. It seems that the panic of the financial system is quite large.
UBB [bank] informed us a few days ago that they were closing down our accounts for trading in cryptocurrencies. After a conversation with one of the bank’s bosses, I realized it was the decision of the bank’s owner, it was not for regulation.
Bitcoin has breached the $US 16,000 mark, extending the digital currency's record-breaking surge.
"The offenders choose the bitcoin way of investing/saving the money, because it is rather difficult to be tracked and followed."
-----BEGIN PGP SIGNED MESSAGE----- Hash: SHA512 Bitcoin Core version 0.13.2 is now available from: https://bitcoin.org/bin/bitcoin-core-0.13.2/