Can anybody explain this to me?
1 Like
This is like asking for cliffnotes of the Bible.
12 Likes
It’s worthless and backed by nothing. The block chain technology could be replicated by a government overnight.
So how’s that any different than the US Dollar? It used to be backed by gold. Now it’s not. Now it’s backed by how much ink is in the Treasury’s printer. So really what’s the difference? Am I way off here?
1 Like
US dollar is backed by a $20T economy.
2 Likes
Correct.
Currency on a on the most secure decentralized computer network in the world, unseizable, un traceable, hard capped at 21 million, crosses borders easily, eliminates banks, and is digital in an increasingly digital world has no value. It is simply a scam.
A govt $26 trillion in debt and printing as fast as they can change the ink is the better way.
2 Likes
All speculation and always getting hacked on the exchanges. Blockchain technology is great and will be used for government currencies in the future.
2014 called and wants it’s attack line back
1 Like
I’ve worked in investment banking, commodity trading, and managed teams trading rates and FX; point being, Ive seem some stuff. And I don’t really get it.
Frankly, it’s the perfect tool for multinational criminals and money launderers.
Lastly, crypto set off my alarm a couple years ago. When people like my parents start asking me for crypto trading tips, it’s time to hit the brakes.
On the other hand, I’ve also never understood the flight to gold in a doomsday scenario. That one boggles my mind.
1 Like
Not much has changed other than the speculative bubble growing on it.
This is a good point. The dollar has never been used for anything illegal.
1 Like
$2.9B worth?
Ya, cause that’s what I said.
4 Likes
So where do we stand on pork belly and orange juice futures?
6 Likes
“When temperatures are cold, orange juice is hot!”
- Oldest saying in the frozen concentrate OJ trading pit.
“Pork bellies! I have a hunch something very interesting is going to happen in the pork belly market this morning.”
- from the movie that has inspired a shocking number of commodities traders to get into the business
3 Likes
1 Like