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Backing is not the point. It's acceptance and value

Posted on: December 22, 2017 at 10:24:41 CT
Ferg MU
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I think there's a place for cryptocurrency but it seems like people are using bitcoin as a buy and hold speculative investment and are not using it for transactions.
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this is the sound of a bubble popping - Ferg STL - 12/22 09:51:01
     Not a bubble (nm) - pickle MU - 12/22 10:08:32
          how do you know? (nm) - SwampTiger MU - 12/22 10:13:13
               Not central bank/gvmt controlled - pickle MU - 12/22 10:25:45
                    A feeding frenzy doesn't need to involve - Ferg STL - 12/22 10:32:55
                         The dot.com bubble was created by the gvmt/fed reserve - pickle MU - 12/22 10:34:01
                              no it wasn't - Ferg STL - 12/22 10:37:57
                                   It was created by an expansion of credit - pickle MU - 12/22 10:43:04
                                        what housing bubble? Housing prices are higher than - Ferg STL - 12/22 10:47:52
                                             The bubble that popped in 2005 (nm) - pickle MU - 12/22 10:56:38
                                                  it didn't really pop if prices today are considerably higher - Ferg STL - 12/22 11:01:48
                                                       It's a new bubble. (nm) - ummmm MU - 12/22 11:28:32
                                                       Ok (nm) - pickle MU - 12/22 11:22:56
          Not a bombing. - GODZILLA MU - 12/22 10:12:08
          who knows? maybe it is, maybe not. - Ferg STL - 12/22 10:11:52
               I agree with there being a lot of speculation - pickle MU - 12/22 10:24:24
               It's got as much backing it as - JayHoaxH8r MU - 12/22 10:15:19
                    Backing is not the point. It's acceptance and value - Ferg STL - 12/22 10:24:41
                         I completely agree with this. I, of course, love the idea - ummmm MU - 12/22 10:30:27
                              it's certainly interesting - Ferg STL - 12/22 10:40:49
                         So just like oil, gas, etc speculators? - JayHoaxH8r MU - 12/22 10:26:36
                         But that doesn't make it a bubble (nm) - pickle MU - 12/22 10:26:12
                    It doesn't have legal tender laws. It certainly has less - ummmm MU - 12/22 10:17:49
     RE: this is the sound of a bubble popping - ummmm MU - 12/22 09:54:25
          What's it worth? and Why? - Ferg STL - 12/22 10:00:33
               Well, that's what markets are for. - ummmm MU - 12/22 10:02:34
                    yes, that's what markets are for. I won't touch - Ferg STL - 12/22 10:06:04




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