Can bitcoin replace the U.S. dollar as a reserve currency

Discussion in 'Stock Market Today' started by Rustic1, Feb 8, 2021.

  1. Rustic1

    Rustic1 Well-Known Member

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    Hmm? Makes you wonder. The more that gets permanately stored in digital wallets will essentially dry up the float " so to speak" unlike securities it can't be borrowed like in shorting a stock. A good percentage is lost in locked out wallets and many are rightfully taking profits from the recent run but it seems to be absorbed by the newer buyers. More and more companies are accepting it as payment and a few more are greenlighting ETFs and the sort.

    Screenshot_20210215-140143_Webull.jpg Screenshot_20210215-135728_Webull.jpg
     
  2. roadtonowhere08

    roadtonowhere08 Active Member

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    Exactly. Take away the profit motive and what do you have?

    Lose your "wallet" and it is all lost? To hell with that. I'll keep my rewards credit cards, thankyouverymuch!
     
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  3. StockJock-e

    StockJock-e Brew Master
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    If we are talking federally run blockchains, then your wallet is assigned to your SIN or some biometrics, you can never lose it.
     
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  4. roadtonowhere08

    roadtonowhere08 Active Member

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    True. Let's hope that would be the case.
     
  5. Rustic1

    Rustic1 Well-Known Member

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    Even the Rothschild's are waking up.

    Screenshot_20210216-045329_Chrome.jpg Screenshot_20210216-045516_Chrome.jpg
     
  6. T0rm3nted

    T0rm3nted Moderator
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    bearmarketcrash likes this.
  7. Rustic1

    Rustic1 Well-Known Member

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    Smart a$$ millennials, proving they are smarter than the ole man. :D

    I'm just a old kranky. Screenshot_20210216-084800_YouTube.jpg
     
  8. bearmarketcrash

    bearmarketcrash Well-Known Member

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    hah yea wow. those screenies are coming in a bit hot on my display as well. thought i was the only one. :p
     
  9. Steph Quinn

    Steph Quinn New Member

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    While I respect your experience, there are a few times when you have to take a leap of faith, with things you don't yet fully understand.
     
  10. roadtonowhere08

    roadtonowhere08 Active Member

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    I'll be happy to do that... with someone else's money :biggrin:
     
  11. Rustic1

    Rustic1 Well-Known Member

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    Broke 50k and seems to be holding. Without the annoying screenshots. A lot of recent news with more and more joining the mix. Time will tell.
     
  12. Rustic1

    Rustic1 Well-Known Member

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    52,000 baby. BOOOYAH.
     
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  13. StockJock-e

    StockJock-e Brew Master
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    Took a bit to get through that 50k barrier, but here it goes

    upload_2021-2-17_12-58-2.png
     
  14. Rustic1

    Rustic1 Well-Known Member

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    Lot more big players entering the mix BLACKROCK and several others.
    Have a bunch of articles but the massive screenshots were getting on some nerves.
    I THINK it will become more stable as more hold longterm and most likely store in wallets. Time will tell.

    Its not going away and becoming widely accepted.
     
  15. StockJock-e

    StockJock-e Brew Master
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    Worthless and used by drug dealers at $5

    Essential store of value by major financial institutions at $50,000
    :D
     
  16. Rustic1

    Rustic1 Well-Known Member

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    I think the drug dealer stuff is mumbo jumbo, most crackheads prefer cash or whatever they can get their hands on. Unless they meet you at the crypto ATM " we have nearly 400 machines in my state" It has been shown a small percentage has been used for illegal purposes but same with any currency.
    Remember the big bills 1000 10,000 those are said to have been used quite a bit in the mob days but have long been out of circulation for years.

    Anything is possible but computers leave trails that can be followed. If you think the FEDS or SEC can't track our butts,even on this forum I would say otherwise.
     
  17. Rustic1

    Rustic1 Well-Known Member

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    Sorry about the screenshot :cool: But it just got real.
    We make fun of them but in the past they have made some good calls for the buy n holders.
    Screenshot_20210217-160721_Chrome.jpg
     
  18. StockJock-e

    StockJock-e Brew Master
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    So now at $50k its time to buy bitcoin?

    Whats wrong with them? lol
     
  19. Rustic1

    Rustic1 Well-Known Member

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    Any responsible investor always buys at the top.

    Its just a ponzi scheme anyway just as everyone has tried to warn us about for years. Its not like the major players such as Blackrock, Mellon, or Canada is going to approve a ETF or even Elon Musk,Cathie Wood are going to take it serious.
    The U.S. Dollar is backed by gold nothing can ever go wrong.
     
  20. turtle957

    turtle957 Member

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    [deleted] - sorry, realized this post was a bit of a tangent and strayed from the original purpose of the thread. Carry on and don't mind me!
     
    #60 turtle957, Feb 18, 2021
    Last edited: Feb 18, 2021
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