05-20-2021, 02:21 PM
Quote: @AGRforever said:
that and the banks/fed cant control it, wall street doesnt like wild rides and with no regulations or control of the product its going to one hell of a ride so I agree, it wont become main stream viable anytime soon, despite people like Musk throwing in on it, notice how long Musk stood behind it when it faltered, if it doesnt stabilize who will want to accept it knowing they could be the last one holding the bag when the market crashes on it again.@StickyBun said:
I don't trust Bitcoin. Way too volatile for me. The bold says it all, its a game and a scam for a very few to make money:
"Bitcoin’s is taking investors on another wild ride: The biggest cryptocurrency plunged more than 30% at one point Wednesday and 50% from an all-time high of $64,870 reached in April before rebounding rapidly in the afternoon. Helping drive the declines, which wiped $500 billion in market value, were recent moves by China barring use of cryptocurrencies. Another blow, according to Bloomberg, was “cryptic” statements by Elon Musk, whose earlier embrace helped fuel its rise. The Tesla CEO recently suspended its use to buy cars. As one trading executive put it, “The history of these assets has been littered with aggressive rallies and sickening selloffs.”
I get into the argument every friend gathering because I have a friend who has essentially quit working to day trade crypto. He/they are essentially insider trading the much less known cryptos. Eventually the .gov will catch up with him on his shenanigans.
But back to bitcoin. It can go to whatever it wants to but right now I still say that the .gov and banks will never allow it to be currency because there is no current way for them to get a commission/tax on it. So to me it will always be the myspace of social media until Jp Morgan or BOA comes up with one they can manipulate and make money off of .
