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Thread: Bitcion's a FAD, same as bell bottom jeans

  1. #11
    Join Date
    Jun 2014
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    2,314

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    Quote Originally Posted by PMnut View Post
    Price of Bitcoin is about 6770 right now, June 16, 2017 it was 1900. It is not yet the tulip you portray it to be.
    For the main stream folk that got in when Btc was on the news everyday it has become a tulip bulb story, causing market destruction.

  2. #12

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    Quote Originally Posted by PMnut View Post
    Price of Bitcoin is about 6770 right now, June 16, 2017 it was 1900. It is not yet the tulip you portray it to be.
    gold raced from 270 to 1900 and is now 1350 but for years we have to hear remarks about the " disaster" When bitcoin raced from a couple of hundred dollars to almost 20,000 and now is under 7,000 we are not allowed to smile...nor call it a Tulip market. People who are brutal when they talk about gold are talking like pucelles when it concerns Bitcoin.
    Depends which mindsets people are living in.

    Golditiki2+++

  3. #13

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    I don't think it is a fad. Bitcoin probably means a lot more to people living in countries whose national currencies are being inflated like crazy. Think Venezuela. Bitcoin's price may have been speculated on but it still has use cases as a store of value and as a decentralized borderless medium of exchange.

  4. #14

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    Venezuelan gov't is very concern about btc fad

  5. #15

    Default Currencies

    Quote Originally Posted by SilverBullionSG View Post
    I don't think it is a fad. Bitcoin probably means a lot more to people living in countries whose national currencies are being inflated like crazy. Think Venezuela.
    That won't work, because you need internet connection, a hightech device plus power to operate it for your cryptocoin trading. Prices of all three will skyrocket while your national currency plunges.

  6. #16

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    I've read that the power companies in Venezuela now take PMs, ammo and food in trade for services renders. No funny monies...
    Small business is the incubator of employment. As it declines, so too do opportunities for first jobs, second chances and economic independence.

  7. #17

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    Quote Originally Posted by Westerner View Post
    I've read that the power companies in Venezuela now take PMs, ammo and food in trade for services renders. No funny monies...
    Seems a bit cumbersome then Btw: thanks for your Google Translate link. GT is now so much better than it was in the early years.

  8. #18

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    Speaking of Bell bottom jeans...

    https://www.coinworld.com/news/paper...-currency.html

    Arthur L. Friedberg
    Special to Coin World
    April 9, 2018

    As Venezuela’s economic mess continues unabated, with inflation surpassing 2,600 percent in 2017, the country’s president, Nicolás Maduro, decided on March 22 to make its worthless currency officially worthless. The currency now used has been in circulation for less than 10 years.

    New coins and paper money will start circulating on June 4, at which point all existing currency will lose its value.

    The new currency, called the “bolívar soberano” (sovereign bolivar, which will be written as “Bs.S.”), will actually come into existence on May 1, when three zeroes will be lopped off every denomination. For instance, the old 50,000-bolivar (Bs) note will be replaced by the 50-bolivar-soberano note. The old money will therefore continue in circulation for about another month.

    The eight new denominations will be Bs.S 2, Bs.S 5, Bs.S 10, Bs.S 20, Bs.S 50, Bs.S 100, Bs.S 200 and Bs.S 500. The nation will also release 50-céntimo and Bs.S-1 coins.

    According to Reuters, since Maduro came to power in April 2013, the bolivar has fallen 99.99 percent against the U.S. dollar on the black market, and if inflation continues at its current rate, another re-denomination will be necessary in 20 months. Maduro blames these problems on domestic opposition and the United States.
    Small business is the incubator of employment. As it declines, so too do opportunities for first jobs, second chances and economic independence.

  9. #19

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    The domino's are falling one by one


    Argentina looks to be headed for another economic storm

    https://www.cnbc.com/2018/05/09/arge...mic-storm.html


    Spain
    Spain Has More Public Debt Than The Entire Economy Produces


    Italy

    Turkey


    The list goes on and on.....Of course the last domino to fall will be the U.S

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