Brownsocks
Just a dog
This is hillarious. Bitcoin and other cryptos are going to be banned or heavily regulated by the goverment and it won't be good for people investing in a bubble.
I want my 401k money now!!!
- Thread starter Faceplanted
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Brownsocks
Just a dog
My 401k might not grow as fast as risky trades but it is easy to reallocate to stable funds in bear markets and will be there when i really need it. Op probably sold Amway before he made fulltime.
Faceplanted
Well-Known Member
Please explain with all your wisdom how crypto can possibly be get banned. I’ll wait because you can’t. It’s literally impossible.
Faceplanted
Well-Known Member
Why invest in a 401k? It’s risky!!!!!
The smart money sticks to bonds and and money markets!!!!
Brownslave688
You want a toe? I can get you a toe.
Banned lol you guys are so funny.
There's a bitcoin futures market. There will likely be a litecoin and bitcoin cash futures market after Gemini adds them.
Every major financial company will have crypto ETFs before the end of 2018. Institutional money is going to flood this market in the back half of 2018.
Does this mean every coin is gonna make people big bucks? No. But to act like crypto is gonna be banned or regulated out of existence is an ignorant statement at best.
Brownsocks
Just a dog
So the sudden tanking of Bit due to a feared government crackdown is a lie? Crypto has no relevant non illegal use for most people in the US, period.
Will all cryptos fail? Probably not, but which bubble you going to chose?
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Brownsocks
Just a dog
Not looking for a 1 year turn around or a more than 10 year bond. My 401k is a nest egg on top of pension and ss. I use other income is used for more liquid investments.
Brownslave688
You want a toe? I can get you a toe.
They banned exchanges in china and people just moved to peer to peer trading.
Brownsocks
Just a dog
Goldman Sachs predicts most Crypto will crash to zero.
El Correcto
god is dead
Yeah, crypto isn’t a terrible thing to invest in using money in your checking account or whatever. Trying to cash out your 401k to buy it is foolish. You’re gambling your future, he is talking about shorting something that could possibly triple in value through a 6 month period or possibly buying into a bubble only to have it crash back down.
Brownslave688
You want a toe? I can get you a toe.
Good god talk about misinformed.
There are a number of reasons for crypto being down. One of which is its natural cycle which you can look back at over the last few years.
Ps. Less than [
1% of bitcoin is used for illegal transactions. Why? Because it's extremely easy to track. That's the whole basis of the blockchain.
Brownslave688
You want a toe? I can get you a toe.
Is it the smartest thing in the world.....probably not. However people cash in their life savings to start a business all of the time. This is pretty much the same thing As far as risk/reward goes.
Brownslave688
You want a toe? I can get you a toe.
Barclays eyes move into cryptocurrency trading
"Goldman Sachs is currently setting up a cryptocurrency trading desk that is expected to launch within months."
Brownsocks
Just a dog
Google is your friend. The losses of bit are the direct result of federal talk of crackdown on crypto. I have some Dinar for sale if your interested.
El Correcto
god is dead
I see this as investing your life savings in a speculative investment.
OrionsBitch
Not...
Banks can make transactions on crypto exchanges illegal.
Govt can put a trade embargo on crypto and restrict all international transactions. (See Cuba)
They can simply lable it illegal to purchase
Govt can block crypto exchanges.
Banks can refuse to recognize it as currency.
Any one of these options will make the crypto market too risky for most investors and the already pathetic market cap will nose dive. They don't even have to be 100% effective to destroy crypto.
OrionsBitch
Not...
So they can pump and dump on morons like you.
Brownslave688
You want a toe? I can get you a toe.
Ahhhh statistics Research Concludes that Laundering of Illicit Funds Constitutes Less than 1% of Bitcoin Transactions
I have a feeling this is probably a difference in meaning. Because we all want our study to show what we want right?
My guess
1% of all bitcoin held is used for illegal transactions
But that 1% makes up 44% of the total number of transactions
This would make sense since it's largely used as a store of value and not particularly easy to buy everyday goods with yet.
Faceplanted
Well-Known Member
Actually google is your friend. The true cause of The 2 huge dumps this past half a year can be traced directly to the lawyer handling the mt gox funds dumping them on the market.
The big banks fudded the
out of crypto for past year so they can get in at lower pricesNow they all are green lighting crypto.
You think the stock market is safe? All it takes is one huge terrorist attack and you can kiss 30-50% or your money gone over night.
