Bitcoin and CryptoCurrencies are not stock, are they?
Amazon is probably going to annouce next week that they will accept Bitcoin.
Will this make it more mainstream? More Credible?
What do you think? There is so much conversation, speculation and misinformation about Crypto.
Stock? Gamble? Credible Future Currency?
Don't forget to hit the like button!!
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18
A little too early for me to make a decision on this one. Another couple months down the road, I will have a better take on it. So mainstream and having more credibility only time will tell. Thank you for the info.
I am not an expert by any stretch of the imagination, but I would rather have Canadian Tire money. I sure wish we could use emojis now!
Trevor
A wise guy eh. It seem to me that if you are not educated in crypto currencies and prepared to loose it’s probably best to look for better investments. Canadians are jumping on the marijuana band wagon. Like they say when you open a margin account all trading has a risk involved. Don’t play with money you can’t afford to loose
Trevor
I wasn't being a wiseguy. I am educating myself. I think the big issue is actually the lack of education. Of course, with money it's considered any investment, so yes, do your dilligence.
I meant I was the wise guy, I am sorry about that.
Just goes to show how grammar and punctuation can make or break content. Your cool. Some days I just should not speak.
Trevor
Bitcoin seems to be acting more as a store of value or trying to make money through trading.
To become cryptocurrency it needs to be used in transactions. Right now it seems impractical to use Bitcoin to buy small items like coffee, as the the time to complete the purchase is too long and the transaction charges would probably be much more than the cost of the coffee.
Personally, I believe another cryptocurrency will take the lead from if Bitcoin does not become competitive on transaction times and costs. There are cryptocurrencies coming out that are backed by gold or silver, and I would make an asset investment in them before Bitcoin. To me a gold backed cryptocurrency (or for that matter any fiscal currency backed by gold) would be my first choice to invest in and use for transaction purposes.
By the way how are you doing with your Jan Objectives? I have a lot to do in the next 4 days!
Roger
Roger, well spoken. Bitcoin is the lucky Crypto. There are others including Ripl, which I believe is from the Government!
As for the objectives, I hear ya, I have a lot to do...am working on it now!
If you check out their websites, they say the currency can be very unstable. I imagine Amazon would immediately turn the bitcoin into cash to avoid fluctuation. Or maybe they plan on accumulating it making it a bet, but the risk would be too high.
Even the banks are buying into Bitcoin.
I just don't understand why people consider it gambling.
I think fear is stopping people because we all have a sense of normalcy that crypto does not fit into.
Gambling (I play craps and Texas Holdem) is even more volatile, but lately some cryptos are not that far behind.
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Hi, Jared.
Amazon won’t be accepting bitcoin anytime soon. They have not made any public statements to that effect and what you are hearing are rumors and speculation.
.
Considered the ‘white whale” of bitcoin acceptance and as one of the world’s foremost retailers, their decision to accept bitcoin would provide bitcoin with a tremendous credibitlity boost and would likely increase the rate of mainstream cryptocurrency adoption. This however will not happen for quite a long time.
Those who are long on bitcoin expect that retail giants such as amazon will eventually join forward-thinking companies such as Overstock in accepting cryptocurrency payments, but investors should remain skeptical of unverified reports that this will occur in the near future.
When you think about it, there is currently very little incentive for Amazon to do so. The company is so ubiquitous that it is unlikely that they would see a noticeable increase in market share.
At last check, Amazon’s valuation is nearly four times the size of the combined market caps of all cryptocurrencies combined, and despite the bitcoin year to date price surge, its market cap is still more than $15 Billion less than the net worth of Amazon Founder Jeff Bezos.
Hmmmmm.
Kindest regards,
Paul.
Where have you been lol?
I like your insights here. Makes me think about it all over again.
Thank you for the compliment Jared.
It's always good to measure at least twice before making the final cut.
Cheers.
Paul.