View single post by srossi
 Posted: Mon Nov 27th, 2017 08:55 pm
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Joined: Sun Oct 14th, 2007
Location: New York USA
Posts: 52458
Ultimark wrote: I have been studying investing for a few years now. It is basically what I do. I have devoted 40 hours a week towards investing and studying the markets. At this point, there is no doubt in my mind that this is a bubble. However, I also know that bubbles can continue to grow for a long time and it is hard to predict ahead of time when it will burst. I will say this - amazon doesn't accept bit coin. Walmart does not. It is not that easy to pay for something with a crypto currency although the use has grown.

Don't forget that this is international and much bigger in countries with devalued currency, a dictatorial or communist government, a thriving black market for everyday goods, etc.  It's bigger than Walmart.  It's huge in Zimbabwe (has been worth over $10,000 there for months already), Venezuela, Estonia, etc.  There's a Bitcoin war in China right now as the government is trying to shut it down and struggling to do so.  America isn't a major market for something like this, we just look at everything from an American perspective.  Acceptance by major American companies will help of course, but we're already beyond that.  There are tons of people around the world who are using it to buy bread to feed their families. 

Last edited on Mon Nov 27th, 2017 08:58 pm by srossi

This thread was great before AA ruined it.