Let's end any discussion of Bitcoin and NTEK. B
Post# of 96897
(Total Views: 624)
Posted On: 12/27/2017 11:46:29 AM
Re: mikemc1001 #86770
Let's end any discussion of Bitcoin and NTEK.
Bitcoin is a horrible idea. You really need to do more research on it. First of all, it’s a valueless currency that has very few outlets for redemption. For those places where you can exchange it, there are severe daily limits on how much you can convert into real currency. There is no security with any of the exchanges on which the currency is traded, and no recourse if they do not deliver on the exchange. To see growth, we would have to accept it, and then hold it without exchanging it, hoping that it would grow. With the recent drop from 19,000 to 15,000 in less than a week, the volatility is far beyond speculative. The Bitcoin has recently gone parabolic and as such is due for a severe crash in the near future, and with no regulation is not anything that we would put our money in. The cost to convert from bitcoin to other currency is far greater than the cost we have for using credit cards, and the exposure with credit cards is minimal and we get paid in cash within 48 hours, whereas with bitcoin or others we would be held up for a minimum of 7 days on a best case scenario.
Bitcoin is a horrible idea. You really need to do more research on it. First of all, it’s a valueless currency that has very few outlets for redemption. For those places where you can exchange it, there are severe daily limits on how much you can convert into real currency. There is no security with any of the exchanges on which the currency is traded, and no recourse if they do not deliver on the exchange. To see growth, we would have to accept it, and then hold it without exchanging it, hoping that it would grow. With the recent drop from 19,000 to 15,000 in less than a week, the volatility is far beyond speculative. The Bitcoin has recently gone parabolic and as such is due for a severe crash in the near future, and with no regulation is not anything that we would put our money in. The cost to convert from bitcoin to other currency is far greater than the cost we have for using credit cards, and the exposure with credit cards is minimal and we get paid in cash within 48 hours, whereas with bitcoin or others we would be held up for a minimum of 7 days on a best case scenario.
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