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"Please invest responsibly — an important message from the Coinbase team"
The cryptocurrency exchange #Coinbase sent out a message to their users recently, advising people not to become too heavily invested in #BTC.
"We also wanted to remind customers of some of the risks associated with trading digital currency. Digital currencies are volatile and the prices can go up and down. Due to the rapidly changing price of digital currencies, some customers
may not have sell limits that are sufficient relative to the value of total digital currency they are storing on Coinbase. Sell limits are one of the many measures Coinbase takes to protect client accounts and assets."
I guess they are worried about "irrational exhuberance" behind the current rise in the price of #Bitcoin. !cryptocurrency
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@perspicacisous01@quitter.se Oh, #Bitcoin _is_ volatile. Even if the general trend for the past year or so has been up, there have been some spectacular drops in that time. But if #BTC is proven to have any real value, it will have to come from being a medium for transactions, not as a playground for high-stakes gambling.
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@perspicacious01 Oh, #Bitcoin _is_ volatile. Even if the general trend for the past year or so has been up, there have been some spectacular drops in that time. But if #BTC is proven to have any real value, it will have to come from being a medium for transactions, not as a playground for high-stakes gambling.
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@perspicacious01 What do you mean when you say #Bitcoin is "secure"? Theft resistance? Tell that to the people whose #BTC was stolen from various #cryptocurrency exchanges. Resistance to manipulation? A few very large mining pools could very well conspire to manipulate it. Somewhere North of 50% of total mining/hashing volume, they could do whatever they wish without anyone being able to resist.
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@lnxw48a1 I heard big players like the #Koch brothers and 3-letter-agencies are involved in BTC speculations. @perspicacious01
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@perspicacious01 Currently, #Bitcoin is rapidly heading toward #gold_rush status. Everyone floods into an area, hoping to dig up enough gold nuggets to become rich. Right now, people are flooding into #BTC, hoping to buy and hold a little #cryptocurrency long enough to sell it for enough money to become rich.
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@clacke @alpacaherder It could force people to sell earlier during rapid price gains. All sorts of strange things (like AMT) get turned on if income gets too hig. Most people don't have the tax avoidance resources, so they may have lifestyle changing tax bills.
LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864}
@mcscx@quitter.se
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