[Cryptography] Cryptocurrency: CME Approved, Coin Paychecks, FED, OpenBazaar ZEC BCH

[Tamzen Cannoy]

> On Dec 1, 2017, at 5:29 PM, Ray Dillinger <bear at sonic.net> wrote:
> 
> I am concerned.
> 
> A lot of money is going into Bitcoin.  This is harmless - even good for
> the crypto market, as long as the investors are solvent.
> 
> But the current crop aren't. A lot of that money is borrowed. They're
> borrowing money to get in.  They're trading futures.  They're buying
> bitcoin on their credit cards and paying 20% interest.  They're
> mortgaging their houses.  And now banks are borrowing to hold bitcoin in
> their portfolios....
> …..
> But when people are in debt to own something and want to sell the thing
> to pay off their debts and the people holding it for them are in debt
> and would have to sell it to get the money to pay them, and the people
> they'd have to sell it to are banks who have leveraged positions that,
> in a falling market, would want to sell it themselves.....  It's
> starting to sound a lot like those funny mortgages people were writing
> in 2007.
> 
> 				Bear

Welcome to 1928, when even paper boys bought stocks because the market could only go up.Until it diddn't. There are people on my local Nextdoor.com asking if they should be investing in bitcoin. At $10K/coin. No, not unless they started 10+ years ago. It’s a tulip bubble and it is going to wreck a lot of people’s lives and set back crypto-currencies in general.

Tamzen