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originally posted by: pavil
originally posted by: whywhynot
Hmmm, may be the right time to get out of Bitcoin.
It constantly amazes me that historically, even though people see a bubble forming, they ignore the huge rise and think it will go on forever.
Someone's going to make a killing. Chances are it won't be the average investor.
Remember how Goldman Sach and all the others intentionally built up the real estate bubble, selling the derivatives while they were covering themselves with Credit default swaps? They made money both ways and got govt assistance too.
Hawala is a method of value transfer system that relies on a network of brokers to send money to various locations instantaneously and without a paper trail. The ancient system used especially in the Muslim world is convenient for its users, but difficult for those looking to track them down.
Basically, a person can transfer money from one location to another by depositing money with a local agent, who calls their counterpart abroad. Then, the recipient will collect their cash from this second person instantly and the two agents settle their accounts later.
“It’s mostly secure, it’s relatively anonymous and it’s also convenient for those who don’t want to deal with the scrutiny or due diligence procedures of banks,” Clarke said.
The networks tend to be long-established, based on family relationships or regional affiliations, and broker reputations are built mainly on trust. While this method is sometimes referred to as “underground,” it’s often used for legitimate reasons and even advertised, according to a report from the U.S. Treasury.
originally posted by: neo96
Bitcoin is crashing down -$6,486 according to coinbase.
Bitcoin cash is crashing down $1,541.
Both Ethereum and litecoin are also down.
I'd hate to be one of those idiots that took out a second mortage to buy bitcoin.
They lost their snips.
I am going to dollar cost average it(monthly), and rotate between 7 different cryptos.
By 2019 I should have a pretty decent stake without the significant cash outlay.
Coinbase and Poloniex.
did quite well for yourself!