The most I would leave in a account with no purchases intended in the near future would be $95 worth....the same that I am willing to bet on game and not worry about loosing. The more likely cause of bitcoins demise would be a few jackass billionaires getting together and manipulating the price. Sort of like what you read about the Hunt brothers doing to the silver market back in the 80s.
The markets are still rigged...
I make loads off it despite it being rigged.and you have a choice
they need 'us' to play..what happens if there are no players?
Casinos arent rigged, the odds are just stacked against you.
and when the odds are purposely stacked against you by actuaries using actuarial science...nevermind.
I'm only about 30 minutes in, but already learned bitcoin is capped at 21M units.
His talk ends, and a different one continues on (which I am watching now). I can understand the boredom. He does drone on about some points. But since he is a part of "the system" I figured his perspective would be of benefit to some on here who may be curious as to what the Fed thinks about Bitcoin (spoiler: they don't care about it).
Yeah, the federal reserve gets touchy about real competition.
Andolfatto's slides discuss that.
I'm not sure I believe the fed doesn't care. It could be true perhaps, but I believe it's more like "the fed can't do anything about it and will work to compete against them and drive them from business"
Would you like me to ask him personally?
He doesn't need to control them. There are enough people who follow his moves to make his actions a force by proxy. Of course, he knows that, too. I'm sure he's not altruistic (nor dotty) enough to trade in a vacuum. So while he may not "control" markets like an iron fist beneath the velvet glove, he indubitably uses his leverage of influence for questionable reasons.
True, I'm thinking more along the lines of the threat of what Bitcoin has shown is possible moreso than "just" Bitcoin. They used innovation that "could" put a dent in central banking control. The best option for them is to also monopolize and control this market.Would you like me to ask him personally?
He makes the point clearly when comparing "market caps" of BTC and the Fed balance-sheet. The scale is small, and by definition it cannot become a proper "unit of account" (or numeraire).
That's what I actually meant, you said it better. One reason the forex market is popular is because of the sheer volume. Because of the sheer volume, it's nearly impossible to control. It would take a concerted, world wide effort by central bankers and brokerage firms. I'm not a big enough conspiracy theory guy to believe that will happen. I actually see no point or profit. These are in competition with each other, not cahoots (for the most part, I think you know what I mean).
It's been dropping steadily for some time now.
Says the girl on food stamps
which is why i'll never play the market again..other than a 401k in order to gain company match..<shrug> meh, why leave money on the table?
i will put it in bonds so it's virtually guaranteed* to be there when i retire.
the rest? i will throw it in my safe because it will earn more..at least i know it will be there when i get back.
thank you for your part in the sham the nearly took down a global economy!
signed the girl who stood in her companies lobby consoling the 401k rep on September 15, 2008, morning when i should have been at presidents in atlantis that year..but couldn't..the phones stopped ringing the quarter before..something surely had gone down..down the drain..
30% of my business and 15% of my 401k.
xxoo
Gold is a finite substance while dollars have been appearing from thin air for years.
There are only two functions of money which Bitcoin offer; 1) a medium of exchange; 2) a store of value.
Yes, that is a better way of stating his effect.
Anonymity is another function, although surely that's a small percentage of people's concern (although a major reason bitcoin was so popular in the beginning). I know this isn't exclusive as cash can have the same properties.
