Monday, November 27, 2017

Good Luck Collecting Bitcoins Kansas City!!!



For our KICK-ASS TKC SHIFT WORKER DENIZENS we offer a quick missive on the sordid topic of coin . . . Bitcoin.

Kansas City financial moguls might be a bit behind the curve on the subject of cryptocurrency and now the whole world is starting to play catch-up thanks to a recent bit of good press.

TKC won't pretend to give any financial advice given that all of our money is "invested" in snack cakes and a roughly aged collection of classic Transformers.

Nevertheless . . .

It's fun to see so many of social media "friends" bragging about their bitcoin millions. We're waiting to witness these folks try to redeem these digital riches for any kind of goods or services in the real world . . . However, social media cred is equally valuable according your mobile phone that dictates the pace and quality of most American lives.

Either way, the scarcity is real and the buzz is impossible to deny . . . Only time will tell if that adds up to real value and/or yet another shortcut to working for the Kansas City, MO $7.85 minimum wage in 2018.

Check the links . . .

Fortune: Bitcoin Is Getting Really Close To $10,000. Here's What Analysts Are Saying.

CNBC: Bitcoin exchange Coinbase has more users than stock brokerage Schwab

New York Times: As Bitcoin Scrapes $10000, an Investment Boom Like No Other

Biz Insider: One of Asia’s largest banks has labelled bitcoin a “ponzi scheme” riddled with hidden costs, joining a number of banks worldwide which have expressed several concerns over the cryptocurrency.

MIC: Is bitcoin really worth $10,000 — or is it in a bubble? The truth about bitcoin’s rapid price rise

You decide . . .

10 Comments:

Anonymous said...

Of course the banks don't like it. It will make them obsolete.

As for the rest of us, it's time to start thinking about alternatives since the banking industry has proven to be so shaky.

Anonymous said...

Your bitcoins are impregnable by the huge worldwide banking industries, right geniuses?!!

Byron Funkhouser said...

Dollars are backed by gold reserves. What are Bit-coins backed by? The banks are right, this is nothing but a Ponzi Scheme con. You have bought a digital promissory note backed by no one & nothing. It has no intrinsic value. It is not legal tender.

12:25, there is no real alternative.

There are no guarantees with any investment. It is a gamble. Play wisely.

Anonymous said...

^^^ Byron you fool. We haven't been on the gold standard since Nixon. Please try to keep up or STFU while the adults are talking.

As for Bitcoin, I hear very young people are equally happy with gift cards. At least you can turn those in for a sandwich.

Anonymous said...

^^^As I hear old people are happy with a supply of depends.

Anonymous said...

^^^. As I hear Geezer Hater is happy with a supply of little boys.

Anonymous said...

Not on gold since 1933. Nixon took us off silver backed dollars to oil backed dollars. That is why we kiss Saudi Arabia's ass.

Hyperblogal said...

Something that doesn't actually exist has always been a good investment.

Anonymous said...

Geezus I hate agreeing with Byron's sentiment; but he is partially correct at least. The dollar is a fiat currency backed by the power Federal Government, bitcoin is backed by nothing, insured by nothing, "found" by computer programs running script calculations written by "bitcoin founders". This is probably one of the greatest scams that has ever been foisted on people. In the event of a revaluing, money is still worth a thing, debt is effectively cancelled. In the case of bitcoin, it is simply gone forever.

Anonymous said...

Yep, Ponzi is alive in spirit and flourishing. These things are probably in the same category as the "Index Options" the millennials are so hot for, another imaginary non-fungible creation based on nothing more than "Corporate Integrity" and a hand full of promises.

I guess the old saying is still true,
"A Fool And His Money Were Damn Lucky To Get Together In The First Place"!