CryptoCurrencyInc.com (OP)
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February 07, 2015, 02:11:17 PM |
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Former CEO of UBS & Credit Suisse: Buy Bitcoin So no investment tip for the next 30 to 40 years? “The only investment that has been proven holds its value over a longer period, gold, and in the future (Bitcoins). Gold and Bitcoins production is limited. Not so with money. Central banks can print unlimited money and tell us today also very clear. It is for this reason not recoverable.” What should you consider when wealth building? “You should not rely on The State itself. Maybe he paid you in the future is not what you imagine today. Everyone should take the initiative. When you create, you must find something that is limited and not increased arbitrarily.” https://www.cryptocoinsnews.com/ex-ceo-ubs-credit-suisse-bitcoin-good-buy-long-term/
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BillyBobZorton
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February 07, 2015, 03:17:43 PM |
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This man is a scholar and a gentleman. We need more pioneers like him.
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Shattered
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February 07, 2015, 07:10:42 PM |
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I think a really simple and fundamentally sounds investment strategy is to invest in BTC and physical Gold and Silver. Like the CEO pointed out, the common denominator in those 3 is that there isnt an infinite supply.
This is what ive been doing and will continue to do in the future.
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pereira4
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February 07, 2015, 07:27:19 PM |
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Some people have the ability to think long-long term and Former CEO of UBS & Credit Suisse is one of them.
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jbrnt
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February 07, 2015, 08:46:36 PM |
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A bank ex-CEO voiced to promote bitcoin, that is promising. Why is he saying "in the future (bitcoin)"? What does he mean? Bitcoin is not a good investment now? If bitcoin is a good investment in the future, it should be a good investment now when it is cheap.
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Denker
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February 07, 2015, 09:45:36 PM |
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Where is that english translation coming from? Because in the original german written source Gruebel said Bitcoin will MAYBE hold it's value. That is an important word missing in cryptocoinnews english translation. I'm pro Bitcoin but translations shoud be done correctly.
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redsn0w
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#Free market
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February 07, 2015, 09:47:40 PM |
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Very great news, this is the best part :
"Making a clear parallel between the value of Gold appreciating and Bitcoins is significant. And also illuminating fiat, bank-made money through Fractional Reserve Banking as an opposing investment position is something I have been vocal on as well. It is clear to anyone with an economic background that “The State” will only feed you one thing in the long-term: debt. Creating fiat through “Quantitative Easing”, Fraction Reserve Banking, and other measures only hurt the common consumer, and protects the elite at the top of the financial food chain. Inflation, unemployment, and increased state debt and taxation are all rising dramatically."
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neurotypical
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February 07, 2015, 10:08:23 PM |
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Where is that english translation coming from? Because in the original german written source Gruebel said Bitcoin will MAYBE hold it's value. That is an important word missing in cryptocoinnews english translation. I'm pro Bitcoin but translations shoud be done correctly.
I dont know, there are some weird expressions there, it may be google translator for all i know.
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Aswan
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February 07, 2015, 10:13:04 PM |
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It's interesting that he think of Fiat currencies as money and not currency. In my world, Gold and Silver is money, and maybe bitcoin, but EUR, USD, GBP etc. are currencies, not money.
Also, I don't know why he says Gold and maybe Bitcoin, but not Silver. I think Gold and Silver both go hand in hand when is comes to actual, solid, fungible money.
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topminingcontracts
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February 07, 2015, 11:32:31 PM |
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Former CEO of UBS & Credit Suisse: Buy Bitcoin So no investment tip for the next 30 to 40 years? “The only investment that has been proven holds its value over a longer period, gold, and in the future (Bitcoins). Gold and Bitcoins production is limited. Not so with money. Central banks can print unlimited money and tell us today also very clear. It is for this reason not recoverable.” What should you consider when wealth building? “You should not rely on The State itself. Maybe he paid you in the future is not what you imagine today. Everyone should take the initiative. When you create, you must find something that is limited and not increased arbitrarily.” https://www.cryptocoinsnews.com/ex-ceo-ubs-credit-suisse-bitcoin-good-buy-long-term/Would be nice if not was the "Former" CEO :-)
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gentlemand
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Welt Am Draht
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February 07, 2015, 11:37:53 PM |
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Would be nice if not was the "Former" CEO :-)
He'd become 'former' very rapidly if he'd said something while in office. I wonder how many finance professionals there are who have some opinions to share on this subject but have to keep it under their hats.
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Q7
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February 08, 2015, 12:47:03 PM |
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That's the best news I've heard thus far in weeks. We need more people like him to promote bitcoin and with his stature, common people would sure listen to what he has to say.
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Poolie
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February 08, 2015, 01:29:31 PM |
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It's nice to see it getting props from prominent people but I don't think either cash or bitcoin is a safe investment currently. However, if the fiat economy did collapse I think bitcoin could thrive. Gold will always be valuable because it's a useful metal but not very good as a currency.
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countryfree
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Your country may be your worst enemy
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February 08, 2015, 07:05:27 PM |
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Das einzige Investment, das nachweislich seinen Wert über einen längeren Zeitraum hält, ist Gold, und in Zukunft sind es vielleicht noch Bitcoins. Bei Gold und Bitcoins ist die Produktion limitiert. Nicht so bei Geld. Die Zentralbanken können unbegrenzt Geld drucken und sagen uns das heute auch ganz klar. Es ist deshalb nicht werthaltig. The guy is not very friendly with central banks, and there's no way he could have said that while in office. Basically, he only compares valuables things, some with a fixed supply, gold and BTC, with those with an unlimited and unrestricted supply: fiat from the central banks.
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I used to be a citizen and a taxpayer. Those days are long gone.
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picolo
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February 08, 2015, 08:15:06 PM |
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Former CEO of UBS & Credit Suisse: Buy Bitcoin So no investment tip for the next 30 to 40 years? “The only investment that has been proven holds its value over a longer period, gold, and in the future (Bitcoins). Gold and Bitcoins production is limited. Not so with money. Central banks can print unlimited money and tell us today also very clear. It is for this reason not recoverable.” What should you consider when wealth building? “You should not rely on The State itself. Maybe he paid you in the future is not what you imagine today. Everyone should take the initiative. When you create, you must find something that is limited and not increased arbitrarily.” https://www.cryptocoinsnews.com/ex-ceo-ubs-credit-suisse-bitcoin-good-buy-long-term/Some financial executives start telling the truth after they retired like Greenspan.
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jonald_fyookball
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Core dev leaves me neg feedback #abuse #political
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February 08, 2015, 10:07:54 PM |
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Nice, but I question the last point about fungibility. The fact that Bitcoins have a transaction history isn't a problem as long as the basic "social contract" is in place and all Bitcoins are treated equally. Gold and cash, on the other hand, are able to be counterfeited, which makes them less fungible.
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david123
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February 09, 2015, 02:49:56 PM |
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On what occasion did he say this? Was it an interview conducted by this site bitforum.info? To be honest, this article seems to leave out a lot..
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