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FA1, we get it. You work for Gold Line... Your quote from JP Morgan, while fun for blogs that promote pump and dump for gold and silver, is from 1912 in a congressional hearing. The US abandoned the gold Standard in 1933. Had Morgan not died 20 years earlier, he might have had a different quote.
So when Morgan said the, gold was a currency. Today, it is not. It is a commodity, no different than oil, cotton, or any other commodity. Actually, bitcoin has far more similarities to Gold than either has to actual currency.
I’m putting all of my money in Iraqi Dinars
OP, FA1 is just being a pretentious bully. I’ve been studying crypto and blockchain myself, and I’m cautiously interested. I think the potential implications for global trade and digital contracts are very interesting. Also, I agree with Managing Partner 1, Bitcoin (and several other established cryptos) tend to behave more like commodities than currencies.
How many gift cards do you own? Would you hold onto those?
I don’t profess to know where crypto is going,but I don’t think it’s a fad,but unlike some I know,it won’t be mainstream either. It rocketed up to the 20,000 range then shot down like Qualcomm several years ago. Volatility is the name of the game I think
Cash is King - the US dollar will forever be the strongest currency in the world. It's the most common used outside of the US - in drug trade, black market, etc. There are probably more crypto currencies now than actual monetary currencies worldwide... There's just too many and lots of arbitration. People join groups that all buy and sell on the inside (supposedly) and no regulation/oversight. The in (owners) groups can profit and everyone else will probably get screwed if they aren't lucky. Too risky, not regulated, and probable rampant inside trading - stay away.
I have a little bit (a few thousand) in crypto for fun in case it actually does something. I plan to HODL it for now. I have my doubts that crypto will become mainstream anytime soon.
Stop.
Bitcoin and all crypto currencies are all zeros. Every single one of them. Not grasping this makes me wonder about you. History, science, and money are things you seem to not understand. This space is too small to educate you. But, I’ll leave this quote. “Money is Gold and nothing else”. I do understand that this is baffling to the modern mind. But it is true. The modern mind is seriously lacking
Oh my goodness. Iraqi Dinars....... WTF
Man, miss the days of the Dinar!!!