Re: Bitcoin, crypto currencies, block chain

[Guest]

https://twitter.com/SquawkCNBC/status/1 ... nswered%2F

[Guest]

Rush to bitcoin? Not so fast, say keepers of corporate coffers

https://www.reuters.com/article/us-cryp ... SKBN2B00FY

Article is one year old. Reasons CFOs gave in the article for not using bitcoin.

1. BTC does not guarantee security and liquidity of the balance sheet.

“When I did my treasury exams, the thing we were told as number one objective is to guarantee security and liquidity of the balance sheet,” said Graham Robinson, a partner in international tax and treasury at PwC and adviser to the UK’s Association for Corporate Treasurers. “That is the fundamental problem with bitcoin, if those are the objectives for treasurers, then breaking them could get them in trouble.”

"Other potential headaches for executives include questions over how a company can safely hold a cryptocurrency, and how much it should disclose to shareholders about security precautions, said Tim Davis, principal in the financial and risk advisory practice at Deloitte & Touche, which advises firms on holding crypto on their balance sheets."

2. BTC is too volatile.

3. Slow adoption as a method of payment.

"Some 84% of respondents said they did not plan to ever hold it as a corporate asset, citing volatility as the top concern, followed by board risk aversion, slow adoption as a widespread method of payment and regulatory issues."

4. The accounting is too difficult.

5. It can't be stored securely.

"headaches from bitcoin’s volatility to accounting for it and storing it are likely to preclude a big wave of companies holding large amounts on balance sheets in the short term, according to over a dozen financial officers, board members and accountants interviewed by Reuters."

"must write down their investment as an impairment charge if it falls."

6. Could lose your job if the price falls.

“The general consensus among treasurers is that very few of them are going to follow this trend initially,” said Naresh Aggarwal at the UK’s Association for Corporate Treasurers. “As a treasurer, if I am right and the price doubles, the company may sell its holding and make a profit. Whilst the company may be worth more, it won’t be reflected in my compensation,” he added. “But if the price falls, I am pretty confident I will be fired. Why bother putting my neck on the line?”

[Guest]

Bitcoin ownership concentrated among a few investors, new study reveals
By Lydia Moynihan
October 26, 2021 11:01am Updated

Bitcoin's ownership is highly concentrated among a few major investors, a new study finds.


So much for bitcoin democratizing the world of finance.

A new study has found that less than 10,000 people worldwide collectively own 5.5 million bitcoin — nearly a third of the 18.77 million bitcoin that thus far has been mined. The latter currently carries a market value of nearly $1.2 trillion.

What’s more, less than 1,000 people own 15 percent of the bitcoin that’s in circulation, a chunk that’s currently worth $180 billion. The study from the National Board of Economic Research notes the concentration could be even more acute than it is able to prove.

“Our results suggest that despite the significant attention that bitcoin has received over the last few years, the bitcoin ecosystem is still dominated by large and concentrated players, be it large miners, bitcoin holders or exchanges,” study authors Igor Makarov and Antoinette Schoar found.

“This measurement of concentration most likely is an understatement since we cannot rule out that some of the largest addresses are controlled by the same entity,” Makarov and Schoar said.

https://nypost.com/2021/10/26/bitcoin-o ... new-study/

If bitcoin became world reserve asset, this is a template for a new form of slavery where you have to go to your "bitcoinsmith" to get currency notes. With just a few thousand people in the world owning most of the "digital gold."

Not freedom at all.

[Cool Breeze]

Short it then, Peter?

LOL, see how that works out for ya

[Guest]

Short it then, Peter?

LOL, see how that works out for ya

[Cool Breeze]

Did you cover? lol

[Guest]

Did you cover? lol

I can't speak for anyone else but I don't invest in crypto, either way.

The only investment I made this week was take a small initial stake in Facebook (Meta Platforms) tonight because of its WIDE MOAT and NETWORK EFFECT. Price was 204.60 and will buy more small amounts if it goes down more.

Reason to talk about it here is Facebook has a real use network effect, unlike the phantom network effect of Bitcoin which is almost all due to speculation. Plus it has income.

[Guest]

"No underlying asset" = I don't understand network effects, value, security, portability, scarcity.

Government "backing" is funny when you consider most governments, it's a real hoot

You don't understand network effects. See the above post to understand what network effect is and who has it. Read and learn.

[Cool Breeze]

"No underlying asset" = I don't understand network effects, value, security, portability, scarcity.

Government "backing" is funny when you consider most governments, it's a real hoot

You don't understand network effects. See the above post to understand what network effect is and who has it. Read and learn.

No, you don't. And you can't even make a handle. Bugger off

[Guest]

"No underlying asset" = I don't understand network effects, value, security, portability, scarcity.

Government "backing" is funny when you consider most governments, it's a real hoot

You don't understand network effects. See the above post to understand what network effect is and who has it. Read and learn.

No, you don't. And you can't even make a handle. Bugger off

I'd make a handle if anything you post was worth responding to but it's not. Go wallow in your Bitcoin misery and stop responding to my valuable posts with your worthless crap. You are a zero.