Cryptocurrency Rise

@yugocean (9965)
India
October 15, 2017 2:40am CST
Bitcoin is now at value of nearly $5800. JPMorgan Chase chairman and CEO Jamie Dimon, who used to say he does not care about bitcoin, and called bitcoin as fraud in September, now he said only stupid people buy Bitcoin and themselves pay the price one day. According to Fortune group, Cryptocurrency market is now above Goldman Sachs and Morgan Stanley in business. This rise made me remember my lose of leaving easy Bitcoin earn few years back.
7 people like this
6 responses
pgn
@pgntwo (22408)
• Derry, Northern Ireland
15 Oct 17
I have none to worry about, unless those investing my pension fund are buying them...
4 people like this
vanny
@vandana7 (98986)
• India
15 Oct 17
Exactly...that would be devastating indeed.
2 people like this
yugocean
@yugocean (9965)
• India
15 Oct 17
Not to worry, you can exchange your bitcoin to US dollar through online wallets.
2 people like this
yugocean
@yugocean (9965)
• India
15 Oct 17
@vandana7 you are not buying?
2 people like this
topffer
@topffer (42156)
• France
15 Oct 17
I would not tell that only stupid buy bitcoin, but I am not sure if all people buying crypto-currencies are aware that it is a high risk speculative investment, and that they can lose all their investment very quickly. I am mining an alt-currency since mid-August, and the way it goes up and down would make me stay away if it was something on the share market. It is speculation, nothing else.
4 people like this
vanny
@vandana7 (98986)
• India
15 Oct 17
Exactly. A currency with no asset backing is like a big baloon set free to roam the world...you never know when lightening will strike and it will burst.
2 people like this
topffer
@topffer (42156)
• France
15 Oct 17
@yugocean I guess you will see more and more countries banning them, not because it is not under government control, but because their value is based on nothing real. It is not better or worst that any HIYP. But the blockchain concept is something interesting, and will certainly be used for online transactions.
2 people like this
yugocean
@yugocean (9965)
• India
15 Oct 17
Such currencies are not under control of government but market. China and South Korea even banned them, but who knows if the ban is temporary or permanent.
4 people like this
goingeagle3
@eagletrek2 (5499)
• Kingston, New York
20 Oct 17
Hi I am still try to understand bitcoin and this new kind of money and how it works
Pinay Ako
@AkoPinay (11544)
• Philippines
15 Oct 17
You spell the name incorrectly, it is Jamie Demon just kidding he called me stupid so I spell his last name as demon
1 person likes this
yugocean
@yugocean (9965)
• India
15 Oct 17
Haha You might be a rich girl, 1 Bitcoin touching to $6000, so you got yourself Richie .
1 person likes this
Pinay Ako
@AkoPinay (11544)
• Philippines
15 Oct 17
@yugocean no, I only buy worth $2 to $10 coins if I have extra I am not the stupid like "demon" is referring to as I do not use all my money to buy CryptoCurrency. I only spend what I CAN AFFORD TO LOSE.
1 person likes this
yugocean
@yugocean (9965)
• India
15 Oct 17
@AkoPinay Right thought, invest only what you can afford to lose. Or waste few minutes to earn from such sites which pays in bitcoin.
1 person likes this
Yadah
@Yadah04 (3363)
• Philippines
15 Oct 17
I do not get the idea of bitcoin actually. But i do have bitcoins still.
3 people like this
yugocean
@yugocean (9965)
• India
15 Oct 17
Do you really have bitcoin's? Do you know they have price, you can even exchange 1 Bitcoin for over $5000 now.
3 people like this
Yadah
@Yadah04 (3363)
• Philippines
17 Oct 17
@yugocean yes, i do "mine" and have my "wallet". I joined bitlanders, and some other "bitcoin-generating" websites. But when I said i do not really get the idea of bitcoin is on what determines its value. and where was it from? like it is actually just a virtual money, but still could be used to purchase things or exchanged with real money. am i right?
1 person likes this
yugocean
@yugocean (9965)
• India
17 Oct 17
@Yadah04 It can still be exchanged, various Countries are controlling the ways. There are many legit sites which transfer amount to paypal in exchange, but they charge high, so people do not like to use them.
dekkukkslimetalon
@dekkukkslimetalon (193)
•
15 Oct 17
I also heard this news from different people about jpmorgan, some people use bitcoin as investment and withdraw it once the bitcoin price is already increased.
2 people like this
yugocean
@yugocean (9965)
• India
15 Oct 17
@dekkukkslimetalon This will be a problem because market has put huge, they are now 179 billion dollar industry as per Fortune.
1 person likes this
dekkukkslimetalon
@dekkukkslimetalon (193)
•
15 Oct 17
@yugocean and once it dropped, bitcoin will be forgotten hehehehe
1 person likes this
dekkukkslimetalon
@dekkukkslimetalon (193)
•
15 Oct 17
@yugocean but the problem here is, we dont know until when the price of bitcoin will increase because if it drops a lot, then they are going to lose huge amount
1 person likes this