Platinum Contributing Member steve from amherst Posted February 8, 2018 Platinum Contributing Member Share Posted February 8, 2018 Add Vanguard to the growing list of major Wall Street institutions that are skeptical of bitcoin. Joe Davis, Vanguard’s global chief economist and the head of its investment strategy group, weighed in on the world’s largest digital currency, expressing enthusiasm about bitcoin’s underlying technology but extreme bearishness about the cryptocurrency itself. “I see a decent probability that its price goes to zero,” he wrote in a blog post. While bitcoin BTCUSD, +0.00% has largely trended higher over the past 12 months, recent trading in the notoriously volatile security has been decidedly lower. Bitcoin last traded at $8,587.65, up 13% on the day. The digital currency was trading under $1,000 a year ago, but it has sharply declined from a peak near $20,000 hit in December. The gains have led to a surge in interest in bitcoin and other digital currencies; Davis wrote that he’s been asked about bitcoin more than any other topic over the past few months. https://www.marketwatch.com/story/vanguards-chief-economist-decent-probability-that-bitcoin-goes-to-zero-2018-02-08 Quote Link to comment Share on other sites More sharing options...
NaturallyAspirated Posted February 8, 2018 Share Posted February 8, 2018 I don't get why people see it as an investment tool, it isn't, and never was intended to be. Neal Quote Link to comment Share on other sites More sharing options...
Whiskey Tango Foxtrot Posted February 8, 2018 Share Posted February 8, 2018 3 minutes ago, NaturallyAspirated said: I don't get why people see it as an investment tool, it isn't, and never was intended to be. Neal Nor is a real form of currency IMO. Can I use it to tip the hookers at the bar? It's new age, fake, federal reserve style"money" Quote Link to comment Share on other sites More sharing options...
Zambroski Posted February 8, 2018 Share Posted February 8, 2018 I don’t get investing in this at all. Most governments won’t recognize it. I learned my lesson at trading currencies and commodities the hard way. No thanks. And Bitcoin is really neither! But, lots made money in it, so...good for them. Quote Link to comment Share on other sites More sharing options...
NaturallyAspirated Posted February 8, 2018 Share Posted February 8, 2018 2 minutes ago, Whiskey Tango Foxtrot said: Nor is a real form of currency IMO. Can I use it to tip the hookers at the bar? It's new age, fake, federal reserve style"money" Of course it isn't, and never was to be. It is a cryptocurrency. Yes, you could, pending on you and the hooker understood how to use it. It's actually the exact opposite of fake federal reserve style money. Why the commentary on a topic you obviously know or understand nothing about? Neal Quote Link to comment Share on other sites More sharing options...
Whiskey Tango Foxtrot Posted February 8, 2018 Share Posted February 8, 2018 5 minutes ago, NaturallyAspirated said: Of course it isn't, and never was to be. It is a cryptocurrency. Yes, you could, pending on you and the hooker understood how to use it. It's actually the exact opposite of fake federal reserve style money. Why the commentary on a topic you obviously know or understand nothing about? Neal I guess I've been hanging out with you assholes too much lately... To be honest, you're correct, I'm not as informed as I should be on this subject. Problem is, at the beginning I saw "$cam" written all over it and haven't investigated further. 1 Quote Link to comment Share on other sites More sharing options...
NaturallyAspirated Posted February 8, 2018 Share Posted February 8, 2018 Just now, Whiskey Tango Foxtrot said: I guess I've been hanging out with you assholes too much lately... To be honest, you're correct, I'm not as informed as I should be on this subject. Problem is, at the beginning I saw "$cam" written all over it and haven't investigated further. The scam applies if you view it as an investment tool. Neal Quote Link to comment Share on other sites More sharing options...
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