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Bitcoin - Is there an investment case for the cryptocurrency?
"For those who believe that cryptocurrencies could be the next big thing, buying bitcoin is like an option contract: it might just pay off. For everyone else, the wise course is to watch. Investors have had a lot of fun piling into bitcoin; the real test will come when they suddenly need to get out again."
Personally, I think the bitcoin phenomena fits nicely into the #1 position as catalyst for the next unwinding when the bubble pops and people run for the exits.
I've been wondering what "tag-a-long" stock or sector would be affiliated with the bitcoin craze. For example, instead of buying Amazon at high valuations you might reap similar benefits by buying UPS or FedEx. Instead of buying over priced Apple stock you may buy the companies supplying the components in their Iphones. What would you invest in that will move in the same direction as bit coin without paying the exorbitant price for bitcoin stock?
Maybe rebranded beverage companies are the way to go!
This week, two beverage companies—Long Island Ice Tea Corp and SkyPeople Fruit Juice—saw huge stock gains after renaming their companies with cryptocurrency terminology.
I don't get how in the world this happens in today's day and age... Are investors really so oblivious that they'll send a stock soaring because of a name change?
Kind of on-cue for this discussion. From the little I've read, I do believe it is the future of finance. How that equates to equity I have trouble with, but I have no doubt it will create billionaires. One technology an oldster like me has a hard time grasping.
But today: Bitcoin has been on a tear this past with the value of the cryptocurrency jumping from $8,000 to nearly $20,000. Well that run hit an abrupt end today as the price crashed as much as 23 percent on Coinbase.
Maybe rebranded beverage companies are the way to go!
This week, two beverage companies—Long Island Ice Tea Corp and SkyPeople Fruit Juice—saw huge stock gains after renaming their companies with cryptocurrency terminology.
First of all, most of us at one time perhaps thought of opening up a bitcoin wallet and stashing a couple of coins there for giggles. Alas and alack, I didn't. Rats. [rono looks around for a show of hands]
Is it worth the tulip-maniacal craze? Probably not, but who really knows. On the news last week, there was a segment on how in South Korea bitcoin is very mainstream. Keep in mind that they're been about a decade ahead of us when it comes to mainstreaming new technology. If I recall, the whole country has had broadband for going on ten years. What we will want to watch is the winter games and how our athletes and visitors use it.
I think the whole world is looking for a way to test the waters without actually opening up a wallet.
Oh, and for those that have studied bitcoin and mining them, think about how much Mordor has mined.
Comments
Just my opinion, of course.
How much are you guys willing to pay me not to buy one?
Maybe rebranded beverage companies are the way to go!
This week, two beverage companies—Long Island Ice Tea Corp and SkyPeople Fruit Juice—saw huge stock gains after renaming their companies with cryptocurrency terminology.
https://qz.com/1163073/beverage-companies-are-juicing-their-stocks-by-rebranding-with-cryptocurrency-jargon/?mc_cid=8b7d0c9026&mc_eid=858fcae90a
But today:
Bitcoin has been on a tear this past with the value of the cryptocurrency jumping from $8,000 to nearly $20,000. Well that run hit an abrupt end today as the price crashed as much as 23 percent on Coinbase.
https://techcrunch.com/2017/12/22/bitcoin-crypto-crashed-hard/
FWIW
The distinction between blockchain ( https://en.wikipedia.org/wiki/Blockchain ) and one use for it -- crypocurrency (bitcoin is an example) -- is important.
There are already practical uses for blockchain records -- here is an example:
https://www.mutualfundobserver.com/discuss/discussion/37301/vanguard-will-use-blockchain-to-share-index-data/p1
Its my impression the case for cryptocurrienies in general, and bitcoin in particular (especially at its current price level), is still to be made.
davfor, thanks. that was useful and understandable. Here is also a fairly simple explanation of what blockchain is.
https://blockgeeks.com/guides/what-is-blockchain-technology/
First of all, most of us at one time perhaps thought of opening up a bitcoin wallet and stashing a couple of coins there for giggles. Alas and alack, I didn't. Rats. [rono looks around for a show of hands]
Is it worth the tulip-maniacal craze? Probably not, but who really knows. On the news last week, there was a segment on how in South Korea bitcoin is very mainstream. Keep in mind that they're been about a decade ahead of us when it comes to mainstreaming new technology. If I recall, the whole country has had broadband for going on ten years. What we will want to watch is the winter games and how our athletes and visitors use it.
I think the whole world is looking for a way to test the waters without actually opening up a wallet.
Oh, and for those that have studied bitcoin and mining them, think about how much Mordor has mined.
and so it goes,
peace,
rono
On the other hand, rather than rebranded beverage companies, maybe something along these lines is a place to look.....
https://www.bloomberg.com/news/articles/2017-12-26/blockchain-pumping-new-life-into-old-school-companies-like-ibm