Where will Bitcoin be on 9/4/2018?

Quote: Pacomartin

It is the greatest Ponsi scheme in the world.

One thing I know about Ponzi schemes (other than to stay out of them altogether) is 'First in, and first out' is the proper investing strategy. After that the risk rises progressively.

Quote: rxwine

One thing I know about Ponzi schemes (other than to stay out of them altogether) is 'First in, and first out' is the proper investing strategy. After that the risk rises progressively.

Ponzi's are very profitable for a lot
of people, that's why they never
go away. Not just for the creators,
but for a lot of the investors too.
But not for the majority.

Quote: Evenbob

How many Benji's are even in the US,half of them?

It's the subject of considerable controversy. Some analysts believe it is closer to 25%.

They finally stopped producing the 2009A series on April 2017

Timothy Franz Geithner 1/26/2009 - 1/25/2013

and are producing the 2013 series now

Jacob Joseph Lew 2/28/2013 - 1/20/2017

Steven Terner Mnuchin 2/13/2017 - present (no series with his signature has even started production)

It shows you how many severe problems the Bureau of Engraving an Printing is having. Lew was Secretary of Treasury for 4 years and they produced only 140.8 million Benjamins with his signature while he was in office, and they have only started printing them in large numbers (720 million) in 8 months after Lew left office. In the meantime they were still printing notes with Geithner's signature three months into Mnuchin's term.

It gives you an idea of how difficult it is to print that much secure paper. By now the $1 banknote must be fairly easy to make near perfect counterfeits, but it is probably not very profitable.

Quote: ChesterDog

Recently, I learned on DT or WOV, that was the "South Sea Company,"

Yes, that was it! Thanks!

I wonder what a big investor in any of the spice and tea trade companies of the time would think walking into a modern supermarket, where they'd see the same products sold cheaply and in vast quantities.

This article explains, without any techie talk, how Bitcoin got to where it is: https://theoutline.com/post/2592/bitcoin-is-none-of-the-things-it-was-supposed-to-be?utm_source=pocket&utm_medium=email&utm_campaign=pockethits

Based mostly on the above, it's definitely a bubble.

Quote: Nareed

Based mostly on the above, it's definitely a bubble.

It went from $1 to $16K in less than seven years. Certainly it is a bubble. But that doesn't mean it will go to worthless.

Well I finally took the plunge a couple of days ago and put in $5k. Roughly $2850 in Bitcoin, $1250 in Etherium & $650 in Litecoin with the change in commission. Waiting on another $1k deposit to clear then will get 1 more Litecoin with the change in Ripple.

Where will it end up? Who knows. Have lost bigger bets than this before so won’t be the end of the world if it crashes.


AZDuffman - apologies but I didn’t end up using your referral link as there were a few more hoops to jump through to get it running from Australia. Ended up going with a local exchange.

Quote: Aussie

AZDuffman - apologies but I didn’t end up using your referral link as there were a few more hoops to jump through to get it running from Australia. Ended up going with a local exchange.

It happens and I thought there might be. No big deal, thanks for the try.

Quote: Pacomartin

It went from $1 to $16K in less than seven years. Certainly it is a bubble. But that doesn't mean it will go to worthless.

A bubble happens when the price of a thing is higher than than the thing's value.

Price is largely determined by supply and demand, often in spite of restrictions or regulations about it. The problem is there may be high demand and low supply for something that is inherently worthless or very cheap, like tulips, beanie babies or stock in a company that produces no income. It also happens with things that are inherently valuable or expensive, like stocks or housing.

So what is the actual value of 1 bitcoin?

Quote: Nareed

So what is the actual value of 1 bitcoin?

The Mexican Peso in the last year went from low:17.49672 to a high:21.95646 relative to USD. We don't ask what is the actual value of the peso, it's value is what it is trading for at the moment: 19 pesos to $1.

Analysts use indexes to try to determine if national currencies are over or under valued, but I don't know if currency traders are any more successful than stock pickers.