"you cannot pick up a loan in cryptos"
There are companies who offer salary to employees in cryptocurrency, yes. Smiley
Your quote: "In the future I can image a world with digital currencies"
Problem solved, the future is tomorrow, wake up tomorrow and accept it.
The world is changed and you can be part of it or just keep on crying.
And stop talking about the tulip mania, incomparable and that lasted just 6 months.
BTC is since 2009... and within 5 years worth $50.000 = 1 BTC
The end.
ps and don't cry again if you miss another upcoming currency Karbowanec (KRB) Cool hahaha
A loan is not a salary. And to receive cryptocurrencies as a salary is not possible. At least not in my country. Insufficient shops who accept (all) cryptocurrencies. Tax problems. There is no regulatory basis to use cryptocurrencies as a salary. Not feasible. I also can not get any interests on cryptocurrencies. At least not on Karbo and Bitcoin.
And even if you get a salary in the cryptocurrency of your choice, you cannot pick up a loan in cryptocurrencies. This possibility is a core element of our financial system. If a cryptocurrency cannot perform this, it has never a chance to replace the USD. But I admit this aim is too high for any cryptocurrency of today but a currency which claims to be an answer to the financial crisis of 2009 should have this approach. I also would expect then that all prices should be in this cryptocurrency. stable prices. No live calculators or such funny things
A future (5-30 years from today and not tomorrow) will take place with cryptocurrencies but not with the cryptocurrencies which we can observe today.
And of course the Bitcoin-price is a bubble. A very long lasting one. The last 6 month of the tulip bubble in 1637 have only been the climax. It already began in the 1620s.
The tulip mania was fueled by the gold of the new world (Amerika). But imagine how much MORE money is circulating today. We even do not have the Bretton Woods system anymore - it was abandomed. (Do you even know that it ever existed?) There are billions over billions of money circulating. Its not unusual that a bubble today will last maybe longer than 400 years ago because the amount of money is a multiple today than it was in 1637. The information are circulating much faster today. But the process and the shape of a bubble is always the same. Also the warning signals.
There have been expensive tulips (bitcoin) who have been sold in 1637 for 10,000 gulden each. For comparison: the average salary of a year was 150 gulden and the most expensive houses in the most expensive street in Amsterdam did cost 10,000 gulden. There also have been cheap tulips which did only cost 0,07 gulden in 1636 and they rose to 0,15 gulden in 1637. And so on.
You can buy (
maybe with Karbos? *uh, bad comment) a book and read for yourself if you are interested in.
The 2009 subprime crisis in USA I dont have to name here. Well known. But also the reasons? Same was true with the Nasdaq bubble in 2000 with all the internet companies. They did not earn a single cent but the buyers paid several millions of USD for it. (By the way today a lot of Nasdaq corporations are bankrupt. If you can read a balance sheet it becomes obvious.) The New Market in the late 1990s in Germany is another example. Many companies have been a fraud and do not exist anymore. Japan Nikkei 1989, keyword: Nick Leeson (options have been new in those days. Nick was the man and got a lot of money from the barings bank and he ruined the whole bank. bankruptcy.
) The Silver market was a bubble between 1975 and 1980. keyword: hunt brothers. they cornered the silvermarket. In the 1960s there has been a bubble in microelectronic stocks in USA. In the 1920s there was a bubble in radio and carstocks. The crash in 1929 and the following depression should be a term for nearly everybody. In the 1870s a bubble in railroadstocks in USA. 1720 - South See bubble. I could count several further bubbles of the history of human kind. And some of it I have experienced even myself.
But you should hear to your gut feeling - if it smells like a bubble - it IS a bubble. The subprime bubble I have not seen coming - the internet bubble in 2000 in contrast - yes.
And like the internet is still relevant in our lifes but not the many internetcompanies - so the blockchain will be relevant for us still in 20 years and more but not the bitcoin. Thats a matter of fact. There are so many use cases that must still developed. Blockchain is a master piece. And the high prices for cryptocurrencies (like the many bubble in history of human mankind) are an indicator that here was invented something very useful. A game changer. But as it is often the case. The first mover is not always the one who will survive.
Do not run after the money. By experience this does not work. You have to wait for the money. Then it will come to you.
Maybe the CME will crash the financial system (again) if it introduces a bitcoin future. There is a heavy risk of infection of other market participants which would reach deeply into the real economy. Read this letter:
https://ip.bitcointalk.org/?u=https%3A%2F%2Fpbs.twimg.com%2Fmedia%2FDOsH_-3UQAAV7Zg.jpg%3Alarge&t=582&c=RmzDmueREWMdVQThe CME should not clear bitcoin futures. Because if uptick or downtickrule could get active while market volume is poor that one counterparty cannot cover his position and then the CME can not clear. (high volatility problem) And if the CME cannot clear this could infect the CME itself and therefore other financial markets until real economy effects. It could harm the whole world economy. By the way that also was my thought as I heard that CME wants to clear bitcoin futures. If this should happen there is a massive risk. I think THAT could be a trigger so the bitcoin bubble would burst with a big bang. The bitcoin market is too small. The demand is too high. The crowd is getting insane. Too much confidence. Really - thats not good.
But anyway. If not this event then it will be another event. It took me a while to understand cryptocurrencies and now after I understandd how they work I am sure. Its just hot air. This bubble will burst soon. Not to mention the stuff with the ICOs and Tokens and that stuff. Totally scam. Really. Pure fraud. Jamie Dimon, CEO of JP Morgan Chase, has a clear view on the things. I am with him.
And one more tip: expect the unexpected. The most danger comes from events from which we still do not know.
I am - for myself - mentally in the red high alert area. Theoretically an e-function goes to infinity. A bubble is developing to a certain point quite similar to an e-funktion, but in real life it does not go to infinity. It will come down. Also if you really really wish that it could last a little bit longer. There are a lot of fools outside but at a certain point of time the last buyer has bought what he always wanted to buy and nobody else is dumb enough to pay more. And then the house of cards will collapse. Especially when market participants are financing their cryptocurrencies by credit it becomes extraordinary dangerous.
BTC is since 2009... and within 5 years worth $50.000 = 1 BTC
There is a saying: pride comes before the fall.
Its in every bubble the same. If people extrapolate historical price movements into the future, especially if the price movement reminds me on an e-funktion - its bubble time.
The future is always not sure. No matter if you made already a lot of money or not. You cannot simply say that within 5 years a BTC will be worth 50K USD. That is misguidance.
Best Regards
