I-5 wrote:Slightly OT, but is there a thread here about cryptocurrency, and specifically Bitcoin? I had some money sitting around (which rarely happens) in 2017 and decided to put a few grand into crypto, most of it on BTC. This was in Nov 2017 just as it was beginning it's big climb....I rode it a few weeks, maybe a couple months, then it started crashing - hard. But since I rarely ever sell investments, I decided to ride it into the ground...and glad I did. As of right now, I'm up about x5. It still could come down, but I'm in it for the long haul now.. Anyone else?
Not yet, but I'm starting to lean that way. Seems companies are finding uses for Bitcoin. That was one of the reasons I've been holding back is it just seemed like something people were buying and selling with no real useful value by what people were willing to pay. But now it is starting to form into something that can be used for commerce.
1. Tesla and a few other companies are storing cash in Bitcoin.
2. Tesla says they will accept Bitcoin as payment.
3. Other companies are starting to accept Bitcoin as payment.
4. You don't have to deal with the currency exchange costs using a Bitcoin to purchase overseas.
It might need a little more regulation so as not to be used to for illegal activities that can't be tracked, but it could become a global digital currency used to buy and sell goods without a currency exchange cost. That would drive its value up and turn it into a useful currency.