Found Deceased MO - John Forsyth, 49, doctor, Mercy ER Clinic, Cassville, 21 May 2023 *car found* #2

[Cedars]

I know. It all sounds to me like pretend money, money laundering, etc. In some ways, this is beginning to sound like a plot line for the tv show "Ozark", or like a plot for a book by Daniel Woodrell.

IMO, one significant fact is that crypto is not functioning as a currency. You can't buy anything with it, you have to sell it in exchange for a real currency (dollars, euros, pesos). There are some online storefronts experimenting with selling you a TV in Bitcoin, but I think consumers will still shop around and use Amazon or Best Buy, etc.

Instead, crypto is being used as an investment. So it functions like stocks, baseball cards, real estate, gold, tulip bulbs, all the things people buy because they believe the value will increase in the future.

JMO

 

[thefragile7393]

IMO, one significant fact is that crypto is not functioning as a currency. You can't buy anything with it, you have to sell it in exchange for a real currency (dollars, euros, pesos). There are some online storefronts experimenting with selling you a TV in Bitcoin, but I think consumers will still shop around and use Amazon or Best Buy, etc.

Instead, crypto is being used as an investment. So it functions like stocks, baseball cards, real estate, gold, tulip bulbs, all the things people buy because they believe the value will increase in the future.

JMO

This sums up what I've heard as well. But it's very volatile...very risky

 

[megs1477]

IMO, one significant fact is that crypto is not functioning as a currency. You can't buy anything with it, you have to sell it in exchange for a real currency (dollars, euros, pesos). There are some online storefronts experimenting with selling you a TV in Bitcoin, but I think consumers will still shop around and use Amazon or Best Buy, etc.

Instead, crypto is being used as an investment. So it functions like stocks, baseball cards, real estate, gold, tulip bulbs, all the things people buy because they believe the value will increase in the future.

JMO

Clarification: You can't buy anything legal with it. It is exchanged in illegal transactions.

 

[thefragile7393]

Clarification: You can't buy anything legal with it. It is exchanged in illegal transactions.

There's legit companies that accept bitcoin.

 

[Howl]

Instead, crypto is being used as an investment. So it functions like stocks, baseball cards, real estate, gold, tulip bulbs, all the things people buy because they believe the value will increase in the future.

Thank you for the shout out to one of the famous speculation bubbles: the Dutch tulipmania that began around 1634 until the petals came off the flower and the whole thing collapsed/imploded in February 1637.
From Investopedia:

What does tulipmania have to do with market bubbles?
Tulipmania reflects the general cycle of a bubble, from the irrational biases and group mentalities that push up prices of an asset to an unsustainable level, to the eventual collapse of those inflated prices. The example of tulipmania is now used as a parable for other speculative assets, such as cryptocurrencies or dotcom stocks.

 

[acutename]

Clarification: You can't buy anything legal with it. It is exchanged in illegal transactions.

Cryptocurrency | Department of Revenue - Taxation

Crypto Currency Now Accepted For All State Tax PaymentsStarting September 1, 2022, the Colorado Department of Revenue (DOR) will now accept Cryptocurrency as an additional form of payment for all state taxpayers. This includes individual income tax, business income tax, sales and use tax...

tax.colorado.gov

Major Companies That Accept Crypto Payments

These major companies accept Bitcoin and other cryptos as payment directly, through third-party apps like SPEDN or crypto credit and debit cards.

milkroad.com

AT&T Now Accepts Cryptocurrency Payments

AT&T becomes the first major U.S. mobile carrier to provide a cryptocurrency payment option customers can use through BitPay

www.att.com

 

[Betty P]

IMO, one significant fact is that crypto is not functioning as a currency. You can't buy anything with it, you have to sell it in exchange for a real currency (dollars, euros, pesos). There are some online storefronts experimenting with selling you a TV in Bitcoin, but I think consumers will still shop around and use Amazon or Best Buy, etc.

Instead, crypto is being used as an investment. So it functions like stocks, baseball cards, real estate, gold, tulip bulbs, all the things people buy because they believe the value will increase in the future.

JMO

Thanks for that explanation.

I hope my previous comment wasn't insensitive to the Forsyth family, it wasn't intended that way.

 

[ch_13]

Cryptocurrency | Department of Revenue - Taxation

Crypto Currency Now Accepted For All State Tax PaymentsStarting September 1, 2022, the Colorado Department of Revenue (DOR) will now accept Cryptocurrency as an additional form of payment for all state taxpayers. This includes individual income tax, business income tax, sales and use tax...

tax.colorado.gov

Major Companies That Accept Crypto Payments

These major companies accept Bitcoin and other cryptos as payment directly, through third-party apps like SPEDN or crypto credit and debit cards.

milkroad.com

AT&T Now Accepts Cryptocurrency Payments

AT&T becomes the first major U.S. mobile carrier to provide a cryptocurrency payment option customers can use through BitPay

www.att.com

It's important to note that most of these companies don't actually accept Bitcoin directly. Instead they use a third-party processor, such as BitPay. In other words, the customer gives BitPay their crypto and BitPay gives the company actual cash. The stores don't ever touch any of the coins themselves.

And most of the crypto purchases they do allow are relatively small scale, probably because of the volatility and the risk of fraud. The Microsoft store only permits purchases of "digital products", e.g. Xbox games, music, etc. And even though Elon Musk is notoriously pro-crypto, you can't use crypto to buy a Tesla. Instead Dogecoin can be used to buy "select items from the Tesla online shop."

If anything, that list shows how limited the uptake of crypto has been considering that it's now been around for 15 years.

 

[megs1477]

There's legit companies that accept bitcoin.

Thank you. I wasn’t aware of this. I also was not meaning anything negative towards bitcoin. Many people have made quite a bit of money from it. Like everything else, criminals always find a way to exploit things.

 

[Charlot123]

Right , I don’t believe crypto was involved, and he lived too reckless and large to be an undercover FBI .In my opinion his secrets caught up with him, or ,he is enjoying life somewhere!!! MOO

He could have agreed to be an undercover FBI agent, he probably needed the money, but it requires organization and some obsessiveness, and JF, with his mercurial temperament, could have not kept up with the job, methinks. He leaves a mess of loose ends.

 

[Charlot123]

Clarification: You can't buy anything legal with it. It is exchanged in illegal transactions.

You probably can buy legal items. I view it as an ideal scheme for tax evasion. Let us say I am a diamond dealer and i sell you, another dealer, a diamond, for which you pay in bit coins. I then buy a diamond from another dealer and pay him in bitcoins. From time to time, I sell stones to regular customers and get dollars and pay taxes. The idea is the existence of two parallel markets, one is of a natural exchange-type and another, regular dollar market. I think it is good for illegal goods but also, for illegal actions. Theoretically, natural exchange historically eventually died out, but it might erode financial systems. JMO.

 

[Cedars]

He could have agreed to be an undercover FBI agent, he probably needed the money, but it requires organization and some obsessiveness, and JF, with his mercurial temperament, could have not kept up with the job, methinks. He leaves a mess of loose ends.

He was a full time emergency room physician. I'm amazed he could squeeze in time for his crypto business.

JMO

 

[Cedars]

If anything, that list shows how limited the uptake of crypto has been considering that it's now been around for 15 years.

To bring it back to the victim, JF himself talked of how he benefited from the enormous increase in the value of Bitcoin. It was his major asset, according to the marriage settlement. So it turned out to be a sucessful investment.

Whereas all his efforts to create an actual viable currency, seem to have failed.

IMO, that wasn't his fault. I think you just can't create a currency out of something that has a volatile valuation. Tomorrow it may double in value, or it might be worth nothing.

Who would actually spend Bitcoin to buy a TV these days? Most people will hold on, since next year it might buy 20 TVs.

JMO

 

[ifindedout]

He was a full time emergency room physician. I'm amazed he could squeeze in time for his crypto business.

JMO

I think JF fit the definition of a polymath. MOO

 

[megs1477]

He was a full time emergency room physician. I'm amazed he could squeeze in time for his crypto business.

JMO

When you replace “leisure” or “entertainment” activities in your daily life with a side business it isn’t as hard as it seems. Some of us don’t come with the ability to relax and chill. We need to be productive and accomplish, I think some may call this a workaholic. Lol

 

[Charlot123]

When you replace “leisure” or “entertainment” activities in your daily life with a side business it isn’t as hard as it seems. Some of us don’t come with the ability to relax and chill. We need to be productive and accomplish, I think some may call this a workaholic. Lol

OMG, I have seen Bitcoin dealers who were barely keeping it together, lol! In fact, this is how I learned the word. I always expect that people have to be super organized to do it, but not necessarily. Not even great mathematicians. Just have mathematical logic, but it different from knowing math

 

[Teche]

OMG, I have seen Bitcoin dealers who were barely keeping it together, lol! In fact, this is how I learned the word. I always expect that people have to be super organized to do it, but not necessarily. Not even great mathematicians. Just have mathematical logic, but it different from knowing math

My husband is a retired computer analyst with a minor in math who spends much time investing our funds and would never ever advise family members or friends. Investing can be too risky. He’s a math wiz but will never invest in Bitcoin due to the risk factor.

 

[Jojefos]

You probably can buy legal items. I view it as an ideal scheme for tax evasion. Let us say I am a diamond dealer and i sell you, another dealer, a diamond, for which you pay in bit coins. I then buy a diamond from another dealer and pay him in bitcoins. From time to time, I sell stones to regular customers and get dollars and pay taxes. The idea is the existence of two parallel markets, one is of a natural exchange-type and another, regular dollar market. I think it is good for illegal goods but also, for illegal actions. Theoretically, natural exchange historically eventually died out, but it might erode financial systems. JMO.

I’m a tax accountant and Bitcoin and its fellows are quite easily and heavily. Since every transaction is taxable and all legal exchanges report to the irs it’s actually easier to evade taxes with cash than with with crypto imo. I have no experience with black market diamonds or illegal crypto exchanges but quite a lot with “untraceable currency” and I’d stick to cash for evading if I was so inclined

 

[jellybean96]

Im late to learning this, but I cannot get over that Richard has not seen the videos of Johnny at the park. Very early on he was describing what had happened so well that I could easily picture Johnny sitting in his car and then getting out and walking around.

 

[Betty P]

Im late to learning this, but I cannot get over that Richard has not seen the videos of Johnny at the park. Very early on he was describing what had happened so well that I could easily picture Johnny sitting in his car and then getting out and walking around.

All the family knows is what the police have told them. It does seem strange they haven't showed any video or other evidence to family members.