Just trying to educate, don't take it personally. See my responses below.
1. There is nothing bitcoin can't do as a currency that the dollar or other traditional currencies can't do, except be used for crime, to evade sanctions, terrorism, drug dealing, hiring people to kill someone . . . darkweb stuff. This should make it a prime target for governments. That is huuuuge risk.
HERE IS A GOOD ARTICLE ON WHAT IS ADDED TO BANKING AND HOW IT CAN COMPETE WITH TRADITIONAL BANKS - https://fee.org/articles/how-will-banki ... y-economy/
2. It has absolutely no inherent value. At least you could hold a tulip and use it to decorate. BTC is literally nothing.
WE ARE SHARING INFORMATION ABOUT INVESTMENTS IN THIS FORUM. THIS COULD NOT BE DONE YEARS AGO. PEOPLE CHARGED HUGE FEES AND THEN JACK BOGEL CAME ALONG WITH VANGUARD.
SO THE NEXT QUESTION IS, DO WE NEED VANGUARD? WHAT HAPPENS IF THIS FORUM COULD CREATE OUR OWN INDEX FUNDS AND HAVE PERFECT TRUST? THAT IS THE POTENTIAL FOR THE BLOCKCHAIN.
3. It was originally supposed to be a currency that hedges against inflation, because unlike the dollar governments can't just print bitcoins. BUT its price is so erratic that no one would seriously use it as a currency. Do the few stores that take it sell their BTC for dollars immediately after accepting the BTC? That seems to be the only rational thing to do.
THIS WAS NOT THE ORIGINAL CONCEPT. THE KEY PROBLEM IS/HAS BEEN - 1) THERE IS BITCOIN THE CURRENCY 2) THERE IS THE TECHNOLOGY WHICH IS THE "BLOCKCHAIN" BUT WAS ORIGINALLY ALSO CALLED bitcoin. I WILL NOT DISAGREE THAT THE CURRENCY IS PROBABLY OVERVALUED AS THE ORIGINAL BITCOIN TECHNOLOGY HAS ISSUES.
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MY ORIGINAL COST PER BTC WAS $331 AND I COVERED LONG AGO. I AM NOW DIVERSIFYING INTO OTHER CRYPTO ASSETS. THE SECOND MOST CONSERVATIVE PERSON IN THE WORLD AFTER JACK BOGEL IS MY WIFE, AND SHE AGREES WITH THIS STRATEGY, BUT THAT TOOK TIME. I DONT CARE IF BTC GOES DOWN TO WHATEVER PRICE AS I TOOK A RISK 4 YEARS AGO, GOT A LITTLE LUCKY, AND I AM NOW DIVERSIFYING PROFITS INTO A BLENDED PORTFOLIO OF USD ASSETS 75% AND CRYPTO ASSETS 25%. THE MORE I LEARN, THAT PERCENTAGE COULD SHIFT TO 33% IN 2018.
PLAYERS IN THE MARKET NOW:
IBM - https://www.ibm.com/blockchain/
UBS - https://www.coindesk.com/ubs-launch-liv ... it-suisse/
Microsoft - https://azure.microsoft.com/en-us/solutions/blockchain/
I am not an either/or guy. This stuff takes a long time, but there is absolutely no way that I need to do a RE Title Search every time I sell, finance, or buy a REAL ESTATE property. Put it on the "blockchain" once with a clear title, and then pay a transfer/administrative fee to your state government. Sorry to the lawyers and title agents, but your days are numbered (some, not all).