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Thread: Bitcoin.....

  1. #61
    Verified Hobbyist BCD Slitlikr's Avatar
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    Smart move.
    Buy the dips and hodl!! Lol
    I'm loving this AMC play.
    She's a kind girl, the kind I'd like to.......
    Details on P411
    MFC charter member

  2. #62
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    Quote Originally Posted by Slitlikr View Post
    Smart move.
    Buy the dips and hodl!! Lol
    I'm loving this AMC play.
    Honestly i tried to panic but my phone didnt reconize �� �� ended up ordering chicken tendies and 1,000 more... ( ive put all im putting in now raised my average from 10.40 to 18.90 ) in honestly feeling this memeScreenshot_20210606-121409.jpg

    Idk why everyone wants a lambo tho... I want the first ever made camero.. Classics man those hold and gain value.. Lambos depreciate...

  3. #63
    Verified Hobbyist BCD Ben Rhimene's Avatar
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    Thus spoke Zarathustra...

  4. #64
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    Philosophical readings huh?? I dig it..

  5. #65
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    It is looking more and more like you are very correct, Ben.

    I'm still holding out hope on the cryptos I have. I am not even considering cashing in.
    I'm down now, but by only a trace.
    I am going to be patient and see how it all plays out.
    As of right now though, you appear to be right./

  6. #66
    Verified Hobbyist BCD Ben Rhimene's Avatar
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    Quote Originally Posted by lovelyxxxo View Post
    Philosophical readings huh?? I dig it..
    The theme of the transition from Apes to ubermensch seemed to fit as trading evolves, as does the theme of eternal recurrence...we shall see about cryptos being a dot.com bubble or not.

    In related news El Salvador made Bitcoin legal tender this week. First country to do so.

  7. #67
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    Per the Wall Street Journal on 6/10:

    El Salvador passed a law on Wednesday that would make the country the first in the world to deem Bitcoin a legal tender.

    The designation allows bitcoin to be used to buy goods and pay taxes and bank loans with the currency. Businesses would also be required to accept bitcoin for payment.
    ***********************

  8. #68
    Verified Hobbyist BCD Ben Rhimene's Avatar
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    Quote Originally Posted by grand1001 View Post
    The designation allows bitcoin to be used to buy goods and pay taxes and bank loans with the currency. Businesses would also be required to accept bitcoin for payment.
    ***********************
    Yup. The issue, as I see it, is that country is not strong enough to develop its own, so it adopts a crypto. They ranked 107 out of 196 countries in 2019 GDP. But if a G7 country were to develop its own and others follow, why wouldn't that drive out the private currencies? El Salvador already accepts the USD, so wouldn't everyone prefer a digital USD to Bitcoin?

  9. #69
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    According to the WSJ today...."ForUsAll inc. a 401K provider, announced earlier this month a deal with Coinbase that will allow workers in plans it administers to invest up to 5% of their 401K contributions to bitcoin, Ethereum,litecoin, and others...

    Of course this doesn't mean it will be an avalanche of money being put into them. To me it's interesting to see how things are transpiring(coming together??) with cryptos.

  10. #70
    Verified Hobbyist BCD Ben Rhimene's Avatar
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    Quote Originally Posted by grand1001 View Post
    According to the WSJ today...."ForUsAll inc. a 401K provider, announced earlier this month a deal with Coinbase that will allow workers in plans it administers to invest up to 5% of their 401K contributions to bitcoin, Ethereum,litecoin, and others...
    Part of my RW job is to be a fiduciary to employer's 401-k. Not sure I would comfortable allowing it as an alternative at the current state of evolution. Plan Administrators try to avoid getting sued and looking at crypto volatility it is a risk companies try to avoid.

  11. #71
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    Billionaire investor Paul Tudor Jones said on Monday, June 14th, that he had bitcoin in his portfolio because it is a diversifier.

  12. #72
    Verified Hobbyist BCD Ben Rhimene's Avatar
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    I am always skeptical of such comments. For one, he came from money. Two, he became extremely wealthy predicting Black Monday (smart or lucky? I think both....but still).

    What does diversification require? No more for a billionairre than the rest of us:

    https://www.forbes.com/advisor/inves...asset classes.

    You can find similar descriptions. Investors were diversifying just fine before crypto existed, so I call BS on that comment...he made it in an attempt to move the market and protect his investment.

    Bitcoin was up today when I last looked. I still do not believe in fundamentals. Also on fence enough to not short it. Infer what you like...

  13. #73
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    Bitcoin? This will end well said nobody. Just like the "Meme" stocks you have to watch it constantly. And usually the little guy gets burned.

    I will stick with my APPL,FB,MSFT and GOOGL and sleep well at night!
    Paying for pussy is cheaper than getting it for free.

    BBBJ ONLY (NO CBJ), DFK, DATY, 69, CIM(not a deal breaker), Mish, K9, SS, CG, RCG........ GFE wanted, I DO NOT give deposits for Meets

  14. #74
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    Interesting report on why bitcoin is so volatile over on YT.

    https://youtu.be/pEnzg8Fca8w

  15. #75
    Verified Hobbyist BCD Ben Rhimene's Avatar
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    The UK has informed Binance they are not allowed to engage in any regulated activity. Apparently Japan may have given them a similar warning recently.

    IMO these are the initial steps the G7 will take against private interests while developing a national digital strategy. Citi recently put out a good piece on this: there are now nearly 5,000 digital curremcies available, up from a few dozen in 2013. Market value is worth a few trillion dollars. Getting too big to ignore.

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