All Forum Posts by: Eric Carr

Established companies? Bitcoin's market cap alone is larger than all of the US banks.  Countries have legalized it, US States have bills to legalize it, and right now, the Ukrainian government is soliciting donations to be made in bitcoin. 

If you haven't seen a cash flow statement then you haven't done enough research. Bitcoin has beat your real estate appreciation for the past 10 years. And yes, you can get a dividend. 

@Dylan Barnard

Google, Amazon, Facebook, windows, ios, PayPal, Visa,  just pieces of computer code. 

Airbnb is considering accepting bitcoin for  payment 

Ebay is adding a crypto payment option.

We will see. 

I believe the Fed CANT raise rates. They've just raised the ceiling, basically took out a credit card to pay the interest on another credit card. If they raise rates, it will impact the US ability to pay the interest on the debt, that it's already struggling to pay. If they don't raise them, inflation continues. They aren't "tapering" either. The treasury balance sheet is on a public website, still going up and to the right. They will eventually try to raise rates, the stock markets and economy will get hammered, and the fed will back off again. Inflation will continue to run, and investors will look for real assets to park their money. The Fed must raise rates and cut the money supply for prices and demand to stabilize. But they cant. I believe larger issues are brewing and money will start flowing to other assets 

  When you understand how bitcoin is mined and the network is maintained, you realize it's the most stable thing on this planet. The El salvadorian president, not ruler, made it legal tender. Along with the other branches of the government. And they haven't lost money, they are buying more. They have established a bitcoin mining operation using one of their volcanoes, free energy. They've also formed a bitcoin bond, which other countries are buying into. El Salvador also built a 4 million dollar veterinarian hospital/college, using bitcoin.  There are States in the US that have bills to legalize it as money, others want to buy it and put it on their States balance sheet, others want to attract miners, other States including California and Colorado want to make it possible for citizens to pay government fees using bitcoin.  The world's largest banks, corporations, and hedge funds, are putting it on their balance sheets, establishing funds, and building custody products.  Both Russia and Ukraine have made it legal property, and Brazil is working on its own bill to do the same.  Mexico is considering making it legal tender, just as El Salvador has. Several countries have spot traded bitcoin etfs. Canada's largest spot bitcoin ETF, just grew 12% over the past 2 weeks.  The US currently has a handful of futures traded bitcoin ETF's, there are mounting efforts to push the SEC to approve a spot product in the US.  It's up 400% over the last 3 years. And it doesn't have the government/fed anti plunge protection team buying it up like the stock market has. 

The price is volatile. That's the price you pay for performance. There are no wash sale rules when it comes to crypto. It also trades 24 hours a day. There are also exchanges that will do 20 to 1 or 100 to 1 leverage. As the rules start to change and countries, states, and institutions continue to adopt, the volatility will lessen. 

Brazils crypto bill, which was unanimously passed Economic Affairs Commission, is moving to the Senate this week, then the Chamber of Deputies, and then the President. The bill would regulate and allow “digital representations of value that can be traded or transferred by electronic means and used to make payments or for investment purposes.”

BNY Mellon has announced a Digital Assets wing, and a custody product, to be offered later this year.

I believe the wallet will custody Bitcoin and Ethereum. It will roll out in the US, then globally in line with demand. BNY suggests that it will be the first to enter the global custody market. 

 Do you think that anything that 2 people agree upon can be money? 

I can see central bank currencies making it difficult to convert Fiat to privacy coins. Or to buy enough of anything to border with. 

Let's hope that enough people don't want that in their future, at least in our lifetimes, to allow that to happen