Nice deflection. When did Indonesia become China?1911 Raptor wrote:Another off the crypto currency.The Annoyed Man wrote:Exactly. That’s why China is not going anywhere. They were relatively early adopters, and they’ll stay in because it is good for them.OldCannon wrote:Don't fool yourselves. China is the #1 miner of cryptocurrency. You don't kill your cash cows.
https://www.crowdfundinsider.com/2018/0 ... g-bitcoin/
Next, ask yourself: “Are Indonesia and South Korea truly free societies?” Not really. What they ARE is firmly anti-communist. Being anti-communist alone is no guarantee of liberty, if your gov’t seeks to control all other facets of your existence. There’s all kinds of other things those two countries do to control their citizens which would not fly here, and make no mistake, this is about control. For instance....have you ever tried to buy a gun in South Korea? Good luck. Your odds are much higher of legally getting one in anti-gun Australia or socialist Europe. Do you think that caning on top of the fines is an excessive punishment for misdemeanors? If yes, then Indonesia is not a free society. Both countries are HIGHLY regulated societies. On the other hand, if you agree with how those governments control their citizens, then you fundamentally do not understand the Constitution of the United States.
In the U.S., which, despite the best efforts of the DNC, is still a country where the concept of individual liberty holds some sway, cryptocurrency trading is perfectly legal. Where does the primary opposition to crypto in the US come from? Banks first, gov’t second. Banks don’t like it .... or haven’t until recently liked it.... because it cuts them out of the fee chain for financial transactions. Gov’t didn’t like it until the tax issues were addressed. Those tax issues HAVE been addressed. And as banks figure out how to convert their processes to crypto platforms, they will come on board. Indeed, some already have.
Is crypto risk free? No. And at no point in this thread have I said it was. But, neither is Real Estate or the Stock Market. As with ALL investment vehicles, cryptocurrencies being no exception, the higher the return, the greater the risks. No investment market, regardless of what’s being traded, is a place for cowards or pessimists. That’s capitalism, baby. If you have no faith in it, don’t engage in it. But it is pretty obnoxious to keep peeing in everyone’s cornflakes here. You’re not doing anyone a service; you’re just getting your fancy tickled. It’s tiresome.
What I HAVE said repeatedly in this thread is that, right now, there is no other investment that is performing like cryptocurrency. That’s just a fact. Even with the losses posted over the last 24-48 hours, I am STILL ahead of the game.....at a greater rate than any of my other investment accounts. The current dip WILL reverse itself, and prices WILL go back up. At the very least, now is the time to HOLD, not SELL. For my own part, I will probably buy some more Etherium today if I can get the cash uploaded to my account quickly enough. If the price rises to more than I want to spend before I can get it uploaded, I’ll just sit on the uploaded $$ and wait for the next dip.
Will I ever sell part or all of it off? Yeah, maybe at some point down the road. But that point will be determined by the same kinds of external-to-the-market factors that would prompt someone to sell off some blue-chip stocks.......like maybe for the cash $$ to buy a car, or a house, or land, etc., etc.
OTH, if the country adopts some form of crypto as a common medium of exchange, I may not even have to convert the assets to $$ to make that transaction happen. At that point, for a fairly small investment of $$, I’ll be like the guy who sold pizzas for two Bitcoin each way back when. Do you think HE’s making pizzas any longer, for any other reason than it simply makes him happy to do it? Every single one of those Bitcoin that he accepted in payment at a $1 value is still worth $9,896 at this very moment, even in the face of the dip.
And by the way, that story is 100% true. The Bitcoin blockchain verifies it.
