You are here: HomeWallSayIt Loud2018 09 12WH ƒake ƒunny ƒo†os ƒound ... (Sakyimo)Comment by Sakyimo

Comment: RE: WH ƒake ƒunny ƒo†os ƒound ...

Author:
Sakyimo
Date:
2018-09-12 15:00:21


::: "ƒoney-money's ßaloney"!


ßi†coin and o†her "cryp†ocurrencies" have value D E M O L I S H E D > 80%!


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Bitcoin investors are getting their digital butts kicked lately.

Bitcoin prices were hovering near a record high of about $20,000 in December.

Hussein Sayed, chief market strategist at currency brokerage FXTM said in a report that it's possible prices could fall below $5,000!

Google, Facebook and Twitter have banned some cryptocurrency ads.

The Securities and Exchange Commission blocked several proposals for bitcoin exchange-traded funds in the past few months, including plans from ETF giants "ProShares" and "Direxion" and one backed by the "Winklevoss brothers" of "Facebook co-founders" fame.

Several publicly traded companies have also tried to latch onto the crypto craze, leading to more concerns that bitcoin could be a bubble.

Eastman Kodak -- yes, the camera and film company -- created its own KodakCoin.

There's even a PotCoin for the legal marijuana and cannabis industry.

Many of these initial coin offerings are legitimate.

But there have been scams too.

The SEC even created a fake ICO called HoweyCoins to show how easy it is for investors to get duped.

And several titans of business have blasted bitcoin as well.

JPMorgan Chase CEO Jamie Dimon has called bitcoin a "fraud" that was only good for "drug dealers" and North Korea.

Billionaire investor Saudi Prince Alwaleed, whose Kingdom Holding Company owns stakes in Apple, Citigroup and Twitter, told CNBC late last year he thought bitcoin was an "Enron in the making" that will implode.

Warren Buffett and Charlie Munger of Berkshire Hathaway have also warned investors to stay away from bitcoin.

Buffett told CNBC in early May bitcoin was "probably rat poison squared" while Munger said at the Berkshire shareholder meeting that the thought of owning cryptocurrencies was "just dementia."

It's also worth noting that the recent plunge in bitcoin comes at a time when the "Turkish lira", "Indian rupee" and "Argentine peso" are in freefall mode as the dollar strengthens.


Still, the pullback in bitcoin comes even as more and more businesses and organizations have embraced "blockchain technology", the digital ledger that keeps records of transactions in "virtual currencies".

IBM is a big proponent of the blockchain.

There is a clear difference between "bitcoin" and "blockchain".

The future of money may still very well be digital, but that doesn't mean that bitcoin or the scores of other "virtual currencies" out there will all survive and thrive.


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(ßßLß)©® : TWßD > Thy will ße Done!
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