Sunday, December 10, 2017
Bitcoin aspect as a Pyramid Scheme, Bubble like thing
Back in the 1990's I was getting into a life insurance company
pyramid scheme AL Williams. It was life insurance funded by stocks.
At the time it looked good as the internet stocks where up and stable.
But came the crash and recession and lawsuits on AL Williams.
(Noted lawsuits happened after I quit!)
I quit because of the issues and the road of a recession and...
My dads insurance broker warned me about the issues
and that the gears are in motion for many lawsuits against them.
I later found out as I have a tendency to meet people before
I meet them or relates, that a co-worker at a hotel I worked at
his grampa passed away and the family could not get his
life insurance because the money was not there. So they where
one of the people that sued! Awkward moment for me, but I let him
know I dropped out before any lawsuits and it was the rocky road
ahead why I dropped!
Relating to Bitcoin and others I would see it as the same. Will it be there when
you want it? Bitcoin is like a pyramid scheme it will happen sometime! Crash!?
Reflection about paranoia, Hushmail's former CEO?
~~~~~Well their former CEO sits on the bitcoin Foundation. You should also never use Hushmail for privacy. They spill to the feds every chance they get. In fact, hushmail feeds you a MITM login upon request from any shady LE authority that will capture your private keys so they can decrypt your entire inbox. It's happened many, many times.
Give it's just a light to it but I need to say because of the investment into Bitcoin
being would I like to put my money into a pyramid scheme, bubble like thing?
NO! Because of the long term risk. Looking at the finish line what does
Bitcoin and others implicate?
Even in the stock market, futures and trading it is iffy! Well stocks now
are high up and like to say the iceberg is coming out of the water more,
so Bitcoins are able to pop out of the water more than it normally
would. When stocks are high other things do better. It can be like...
"Drag a hundred-dollar bill through a trailer park,
you never know what you'll find." - James Carville.
But the push in China would hold as investing in china is different.
The view of a company going broke is not broke as long as there is trust
the broke company will go on supplying goods in one way or another
still making money. But in reality it's a bubble. Also relating to the fact
is the power it holds and of what threat or against governments in a high
level of power bitcoin has! Points that needs to be looked at!
If Bitcoin goes down it can pull down the stock market with it
right into another great depression like the stock market did
in the past!
I would like to see Bitcoin get dumpped in to the poor to cover issues
in a minimum wage retirement cure all fix. It would help more than not
for the poor. Bitcoin would be a better investment to dump it
into the poor as those are the 99% of labor force pushing on METH for
productivity in the workplace taking down sales with them.
~~~~~'A Real Bubble': Billionaire Warren Buffett Doubles Down on Bitcoin Doubt
Billionaire investor Warren Buffett has joined the ranks of those who believe the market for bitcoin is in bubble territory.
According to MarketWatch, Buffett touched on the subject during an annual question-and-answer session held in Omaha earlier this month. While Buffett focused on a range of topics, he honed in on the cryptocurrency market during his remarks.
"People get excited from big price movements, and Wall Street accommodates," he was quoted as saying. Describing bitcoin as a "real bubble," according to the publication, Buffett also criticized the idea of applying a value to bitcoin.
He told attendees:
"You can’t value bitcoin because it’s not a value-producing asset."
Not a value-producing asset? I have to note people would be the asset.
And in that points to slavery... We all are anyway. Wage slaves etc.