tag:blogger.com,1999:blog-1656921634940224775.post8436850500944143933..comments2024-02-11T15:29:31.409-05:00Comments on Richard's Pretension: All That GlittersRichard Bellushhttp://www.blogger.com/profile/10108081864942272619noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-1656921634940224775.post-43329330287266365802016-06-03T11:04:52.485-04:002016-06-03T11:04:52.485-04:00...and quadraphonics were great. Keep that system.......and quadraphonics were great. Keep that system.Richard Bellushhttps://www.blogger.com/profile/10108081864942272619noreply@blogger.comtag:blogger.com,1999:blog-1656921634940224775.post-7146671395718310462016-06-02T17:17:30.007-04:002016-06-02T17:17:30.007-04:00I have no doubt Bitcoin is and will be used in the...I have no doubt Bitcoin is and will be used in the same way as cash in hand – which is to say in ways both legal and illegal. But this is true of any fungible good whether paper euros, gold coins, or barrels of oil. That is part of the original idea of Bitcoin: to keep some transactions private and out of government control and oversight. Still, as in the case of Silk Road, illegal physical goods (whether weapons or drugs) move from one physical address to another and so are not invisible to authorities. Avoidance of taxes and capital controls is a bigger issue, but, as the saying goes, “that’s not a glitch, it’s a feature.” Those who use it know the risks of an absence of regulation and take it on willingly: no bailouts when the price drops.<br /><br />Still, like you, I hesitate to touch it, at least at current prices. Besides, I worry that coordinated international tax, regulatory, and prosecutorial bodies may yet come down hard on it. I’ll still opt for golden nuggets.<br />Richard Bellushhttps://www.blogger.com/profile/10108081864942272619noreply@blogger.comtag:blogger.com,1999:blog-1656921634940224775.post-72918987865209103692016-06-02T15:11:51.948-04:002016-06-02T15:11:51.948-04:00Betamax here, as well as Quadraphonic stereos. Re...Betamax here, as well as Quadraphonic stereos. Remember those? I also had to get an 8-track for the car too. I was always fascinated by electronic gadgetry growing up, but like you said there's a downside to it: bugs to be ironed out with the newer releases, or newer trends push older ones aside. <br /><br />I never could understand the Bitcoin thing either. I looked into it, more out of curiosity, but it seemed a bit too nebulous for my understanding or liking, plus when it comes to finance, silver and gold, I think regulation and watchdogs are beneficial. The whole angle of Bitcoin being sort of clouded and hazy leaves my curiosity out of the picture. As Peter Lynch has said about investments: Buy what you know or use in your daily life. I don't use Bitcoin, but at the same time, I never had a cell phone either (I do now) at least when the trajectory of the stock was rising. Still it's good advice.<br /><br />Plus the fact that it seems like Bitcoin was being used for shady underground type transactions: buying and sell drugs, and who knows what else kept me wary. It wouldn't surprise me to know that some terrorist type organizations use it as well. It just seemed like to much of a pyramid scheme to me. <br /><br />Sometimes you might miss an investment that in hindsight you wish you had bought into, but at the same time you can loose your shirt that way too. Better safe, than sorry.El Voxhttps://www.blogger.com/profile/05985563041511492981noreply@blogger.com