Bitcoin and cryptocurrencies

[objectiveMan]

Investing and speculating? Beware! Play safe! Like the price of diamonds and gold, bitcoin prices are manipulated by the people who own or control the most. Sure I have heard the same fix is in to a degree with the stock market, but it has a history that is extensively scrutinized, well known, and makes relative sense. Remember some past investments that were artificially high like Beanie Babies, fantasy football, collectables, and back in Holland, tulips? Even in a “tanked” market like today's commercial real estate the land is usually still sellable at the assessed tax value.

I agree, it is very risky and any investment is purely speculative.

Jamie Dimon. The always opinionated CEO of JPMorgan Chase (JPM) says bitcoin has no future -- governments will shut it down, he said at Fortune's Global Forum on Wednesday. “Virtual currency, where it’s called a bitcoin vs. a U.S. dollar, that’s going to be stopped,” Dimon said.

Sure, but his opinion is not exactly unbiased. JPM is one of the entities which benefit most from current status quo.

[Brant Gaede]

I don't see how BitCoin can be stopped. It was kicked out into the world and cut off from its roots. Not needing those roots it can't be ripped out.

--Brant

if you want to buy some, remember there's more value in the currency you pay for them to the people who sell them

[merjet]

A lot has happened since the prior post here. Bitcoin's price skyrocketed to more than $17,000 in Dec 2017. Since then it has fallen and is now less than $4,000 (graph with choice of time frame). Wikipedia gives some explanations of the price changes. Some people in the Cleveland area are advocating wider acceptance. A major car dealer will accept Bitcoin to pay for a car. The state of Ohio will accept Bitcoin to pay taxes.

[Peter]

On 11/30/2018 at 7:29 AM, merjet said:

A lot has happened since the prior post here. Bitcoin's price skyrocketed to more than $17,000 in Dec 2017. Since then it has fallen and is now less than $4,000 (graph with choice of time frame). Wikipedia gives some explanations of the price changes. Some people in the Cleveland area are advocating wider acceptance. A major car dealer will accept Bitcoin to pay for a car. The state of Ohio will accept Bitcoin to pay taxes.

So it's not like paying with Mexican pesos? I know fiscally conservative people have always been suspicious about our dollar, backed ONLY by the United States, but bitcoin is very iffy in my book. I saved silver coins and bought Univasario's? from a libertarian site in the 70's and sold them a few years ago for a hefty Ferengi profit.