RE: Bitcoin's recent fall23 May 2021 14:52
Hi Red Sparrow,
Irrelevant of subject matter, I always greatly appreciate your posts on this forum, in my view your observations and opinions on bitcoin didn't sound at all sarcastic, although your honesty and admitted realisation’s regarding possibly one of the biggest pyramid or "Ponzi" penny share schemes of the decade won't be popular with some.
As already stated it is unwise to regard bitcoin as an investment, but instead as a bit of a flutter, I suppose possibly just like online bingo, etc, but offering the chance of considerably more reward or loss, although at far greater risk!
Unfortunately the present intolerance of differing opinion that prevails across our country and brought about by the present governments rhetoric and innuendo has caused a severe infection of tunnel vision resulting in a bigoted herd mentality of the masses causing a severe reluctance, even an outright aggressive refusal to even consider the possibility of error of judgment or any possibly being wrong!
Not to go along with this attitude will result in being accused of, being unpatriotic, a lefty a remoaner and then there is the “Oh I don’t talk about my politics” or “This isn’t the place for it”
Rubbish, shear unadulterated rubbish, these are the statement’s of those who haven’t got the courage of their convictions, or is even embarrassed to admit them, anyone that voted for or against, or not at all, should be prepared to admit how they voted or their opinion, but then not be vilified or castigated for having the honesty to do so .
The alternative is a loss of democratic free speech and a win for the bullies, the bigots and the ill informed which is what has happened in our country and to some extent on this forum!
I agree with you opinion, indeed I know far more people who have lost considerable amounts of money on bitcoin; I can count those that claim to have done well on the fingers of one hand!
Despite recent events in the markets it seems that Bitcoin may well be still be around in one form or another for the future.
But whilst Bitcoin has been rising to unprecedented values investors should consider the why the world’s central banks have been amassing bullion on the cheap and why the BIS & central banks after so many years of resistance have now decided to fully adopt Basel 3 requirements?
Consider then if governments & central banks see the curtailing of the Comex paper PM markets by the implementation of Basel 3 an opportunity to stimulate the value of their gold bullion stocks and also a provide a means to bring about some greater central bank influence or even curtail interest in bitcoin.
If Elon Musk who is able to influence the bitcoin market could be brought onside with the establishment, although most probably not by the offer of more monetary wealth, but possibly by something which would appeal to Elon’s great ego, such as the kudos of being in charge of some governmental high tech space project, this may prove to be irresistible!