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RE: My Thoughts On The Bitcoin (Cryptocurrency) ETF
You are wrong. Do you seriously believe money can compete with Blockchain technology? It's like comparing a horse to a Ferrari. One will never replace the other? That means you are not well read up on history what happens when better technology comes a long
Lol...I love when people can see into the future.....Ha! Smh....
Crypto will line up as an alternative to WS; but, it is highly unlikely (never say never) that it will ever replace fiat. Those who have the most money make the rules. As long as crypto has the risk factor, with no guarantees of reimbursement for swindled losses, it is merely seen as a 'high-risk' trader's choice.
Crypto is currently without risk of legal recourse. WS is federally regulated, and crimes are punishable by law...think Bernie Madoff (made off) and Martha Stewart for starters.
Best regards.
Peace.
Cars are highly unlikely to ever replace horses also. If you think a bank system from the 1800s can compete against 3 second transfers with 0 fees then you are uneducated. Money is not power anymore. Technology and human relationships is. In an abundant world with everyones needs met money will lose even more of it's power. Traders live in a scarcity mentality where value is scarce and nobody ever has enough. Crypto is a new paradigm shift of liquid value.
Surely you know this is being replaced with AI...ever heard of Alexa? She's just the beginning. I never would have imagined that Total Recall could be so real to life...love that movie!
Technology will replace the need for humans...it already is doing so...ever been out with friends and faces buried in little screens?....lol...
It sure is...people have to decide if they want regulated or deregulated 'investing'...Crypto is manipulated...Crypto is friend to the shady dealer....
Btw, money is 'power'. If you don't believe me, try competing with someone who has some; and, see who gets the attention....which reminds me why I'm feeling scroogy...someone with $300K won the bid on a property I had my eyes on...
You caught me on a good day @phoneinf...needed a feisty discussion...lol...feelin' betta already! (hysterically lol!)
Peace.
What I meant was that money is losing power as people become more abundant and Technology and experiences becomes cheaper. It's not as exotic anymore.
Aha...got it! You get no argument from me on this one.
I'm reminded of Warren Buffett who says he wouldn't touch crypto with a 10-foot pole. But, he doesn't forbid his kids and grandkids from investing in the same. So, indirectly, he is 'investing'.
Some wise sage said crypto is in the Wild West phase. This means that some pioneers will be robbed along the way; while a vast majority will eventually experience the boom.
Indeed, we're living in very interesting times. The beauty of Steemit is that you can put zero in, and invest a little time posting, and still grow in value.
Best regards!
Peace.