Schu Posted February 19, 2021 Share Posted February 19, 2021 Bitcoin... and indeed many of the larger market cap alt coins are FLYING today! Bitcoin gonna Bitcoin! Quote Link to comment Share on other sites More sharing options...
Schu Posted February 19, 2021 Author Share Posted February 19, 2021 in 2009 when BTC was created... If you had invested a dollar in gold... today it would be worth $1.73. If you had invested a dollar in Bitcoin... today it would be worth $67 million dollars. Quote Link to comment Share on other sites More sharing options...
Schu Posted February 19, 2021 Author Share Posted February 19, 2021 as of yesterday... Bitcoin in GOOD company! at it's present valuation, silver is going to fall soon! Quote Link to comment Share on other sites More sharing options...
JJkizak Posted February 19, 2021 Share Posted February 19, 2021 As soon as I can find someone to explain how Bitcoin works I will be interested. From what I hear even the guy that invented it can't explain it. JJK 2 Quote Link to comment Share on other sites More sharing options...
CECAA850 Posted February 19, 2021 Share Posted February 19, 2021 5 minutes ago, JJkizak said: As soon as I can find someone to explain how Bitcoin works I will be interested. From what I hear even the guy that invented it can't explain it. JJK You sound like me. Quote Link to comment Share on other sites More sharing options...
JL Sargent Posted February 19, 2021 Share Posted February 19, 2021 That is insane! 1 Quote Link to comment Share on other sites More sharing options...
babadono Posted February 19, 2021 Share Posted February 19, 2021 This too shall crash. 2 Quote Link to comment Share on other sites More sharing options...
Jeff Matthews Posted February 19, 2021 Share Posted February 19, 2021 Faith makes it real. As many investors have stated, it doesn't throw off any income. Your only hope is that the person after you will pay more than you did. Now that I have seen recent articles saying that JP Morgan and Morgan Stanley are looking to get in on the game, I feel more than ever that tulip mania is definitely here. Who knows? I like income. If it doesn't produce income, I am not too interested. I like dividends and option income. I think Mr. Wonderful summed it up pretty well. 1 Quote Link to comment Share on other sites More sharing options...
Schu Posted February 20, 2021 Author Share Posted February 20, 2021 ^He's clueless... but, I would be willing to bet he owns some. its an engineering marvel. if anyone has a passing interest, I can explain it. Quote Link to comment Share on other sites More sharing options...
Jeff Matthews Posted February 20, 2021 Share Posted February 20, 2021 8 hours ago, Schu said: its an engineering marvel. if anyone has a passing interest, I can explain it. I am told there's no backdoor if you lose your password. While people marvel at that, I consider it as a factor that would put a negative value on it. If my bank told me I would lose my account if I forgot my password, I would withdraw it all immediately. Quote Link to comment Share on other sites More sharing options...
Coytee Posted February 20, 2021 Share Posted February 20, 2021 20 hours ago, Schu said: If you had invested a dollar in Bitcoin... today it would be worth $67 million dollars. Ok, so I put $10,000 into it back at day one.... that infers that today, I'd have 670,000,000,000 I did the math correctly. (I'm not worried about the number if I didn't do the math correctly for my question) I want to cash out..... who's going to hand over the cash? Where & how? For that amount, I'm willing to accept pennies though I'd prefer them to be rolled with the person's name and phone number on each roll. 1 1 Quote Link to comment Share on other sites More sharing options...
DizRotus Posted February 20, 2021 Share Posted February 20, 2021 The forum is acting up. After accidentally hitting “Submit Reply” it would not allow me to edit the premature post. My inference from Richard’s @Coytee post above is that he implies uncertainty as to how to cash out a hypothetical investment in Bitcoin. IMO, Jeff @Jeff Matthews is spot on with his reference to the 1636 tulip mania. IMO, a speculation bubble exists when a market frenzy drives the price high above any intrinsic value. You invest in things that have intrinsic value, that are useful, have a purpose, fill a need; but you speculate when you hope to sell to the next fool speculating on selling to an even greater fool. It’s somewhat analogous when discussing the wealth of individuals such as Bill Gates, Mark Cuban, etc. Wealth calculated, even in part, by multiplying today’s share price by the number of shares owned is misleading. Such billionaires could NEVER liquidate their assets at the market high, or anything close to it. Neither the market, nor SEC regulations, would permit it. Speculators who buy Bitcoin, or anything else, hoping to sell to an even greater fool are in for a disappointment. Somebodies will be left holding the bags. IMO, sell those 60s GTOs, 442s, etc. ASAP. The number of well-healed Baby Boomers who covet those things is dying off. Unless you want a tulip bulb that must be stored, insured and requires oil changes, SELL. Carroll Shelby’s personal 427 Cobra is soon to go to auction and is predicted to fetch between 5 - 8 million dollars. Although a gorgeous car, IMO, that is “tulip” speculation on the highest order. https://www.roadandtrack.com/news/a35540420/shelby-427-cobra-super-snake-for-sale/ 1 Quote Link to comment Share on other sites More sharing options...
CECAA850 Posted February 20, 2021 Share Posted February 20, 2021 15 minutes ago, DizRotus said: I can't look at that picture without drooling a bit. 2 Quote Link to comment Share on other sites More sharing options...
Coytee Posted February 20, 2021 Share Posted February 20, 2021 3 minutes ago, CECAA850 said: I can't look at that picture without drooling a bit. It just cured my ED.... 1 3 Quote Link to comment Share on other sites More sharing options...
Schu Posted February 20, 2021 Author Share Posted February 20, 2021 today... Morgan Stanley: 'cryptocurrencies (are) here to stay as (a) serious asset class... Bitcoin (is) making progress to REPLACE US dollar.' Quote Link to comment Share on other sites More sharing options...
Schu Posted February 20, 2021 Author Share Posted February 20, 2021 3 hours ago, Jeff Matthews said: I am told there's no backdoor if you lose your password. While people marvel at that, I consider it as a factor that would put a negative value on it. If my bank told me I would lose my account if I forgot my password, I would withdraw it all immediately. why would you do that... we're REPLACING institutions, which are a 'single point of failure' and replacing it with personal responsibility... you, personally, are responsible for your financial safety and administration. we are trying to 'decentralize' financial security. Anticipating your next thought, currently FDIC insures your deposits to a level and it is backed by the central government... that's not saying much these days as your dollar continues it's RAPID debasement. DEX's (decentralized exchanges, where you buy your cyrpto) is also insured to roughly $250k... it's just not insured by the federal government. If that scenario is not 'safe' enough for you... a couple of the DEX's have in fact been chartered to be banks. if that is still not enough for you, centralized banks are authorized to be custodians for Cryptocurencies. Quote Link to comment Share on other sites More sharing options...
Schu Posted February 20, 2021 Author Share Posted February 20, 2021 3 hours ago, Coytee said: Ok, so I put $10,000 into it back at day one.... that infers that today, I'd have 670,000,000,000 I did the math correctly. (I'm not worried about the number if I didn't do the math correctly for my question) I want to cash out..... who's going to hand over the cash? Where & how? For that amount, I'm willing to accept pennies though I'd prefer them to be rolled with the person's name and phone number on each roll. Hypothetical ideas don't prove a point... it would have been impossible to invest $10,000during the genesis block of bitcoin. your dex that housed the transaction would in fact transfer that value to your institution of choice. there is no physical cash bundle... it's ones and zeros (nothing new here) the control point for physical assets are still centralized banks... but you could theoretically spend that 67 billion on real estate... airplanes... yachts... bearer bonds (with coupons attached), whatever you wanted. there is no limitations... a cup of coffee. companies are beginning to accept all forms of cryptocurrency. people/institutions would be LINED UP to take those coins off your hands... I know it is hard for you to wrap your head around it, but you had better get it straight, your financial future and that of your children depend on it. There is also 'peer to peer' transfers of wealth... taking the banks out of the equation (though you would still need to use a bank if you wanted that much physical cash) Quote Link to comment Share on other sites More sharing options...
Schu Posted February 20, 2021 Author Share Posted February 20, 2021 18 hours ago, Jeff Matthews said: Faith makes it real. As many investors have stated, it doesn't throw off any income. Your only hope is that the person after you will pay more than you did. Now that I have seen recent articles saying that JP Morgan and Morgan Stanley are looking to get in on the game, I feel more than ever that tulip mania is definitely here. Who knows? I like income. If it doesn't produce income, I am not too interested. I like dividends and option income. I think Mr. Wonderful summed it up pretty well. Faith makes it real. As many investors have stated, it doesn't throw off any income. Your only hope is that the person after you will pay more than you did. time to address this^... I waited to see if anyone else actually could UNDERSTAND the inherent issue with this view point before I answered. ^This is 100% true... JUST AS IT IS WITH ANY ASSET CLASS... even those that actually produce. Tyson chicken produces a product and yet if no one wanted to own the stock or eat meat it would be worthless. This is perhaps the worst argument/assessment of cryptocurrency there is. it illustrates the lack of understanding of value and indeed how the monetary system works. I will try and sum it up in a generalized way so that anyone should be able to understand... What gives Bitcoin (BTC) it's value? initially, bitcoin was thought of as a decentralized payment system that DOES NOT rely on a single point of failure or a centralized control point (either banking institutions or the central government). for this it works beautifully... though other cryptocurrencies have come online that are faster and cheaper that bitcoin. since it's early days, bitcoin has taken on a new and much stronger role... that of a store of value. What do I mean by 'store of value'... just as with gold, silver, artwork, classic cars, real estate etc... bitcoin can send it's financial energy into the future WITHOUT the negative effects of a centralized control point and WITHOUT the detrimental effects of currency debasement. let's take a look at inflation... we're not going to use CPI for this assessment because the consumer price index is a lie... it's NOT an accurate assessment of all things inflationary. currently the CPI put's inflation at 1-2%... which is a blatant lie. Currently the REAL inflationary level is over 10%-15% and rising all the time with the current round of monetary (quantitative) easing... this mean for every $100 you save this year, next year that $100 will only purchase between 85%-90% of what it could this year... and it's only getting worse. What bitcoin does is... Sends financial energy into the future by not only insulating you from inflation, it actually introduces a deflationary commodity so that the same $100 invested this year would be worth $235 next year (given historical data year over). Even if there was no growth in value... moving $100 store of value into next year at that same value will net you 10%-15% (insulated) gain. Bitcoin is an engineering marvel that stores and moves financial energy thru time... it's thermo dynamics. Quote Link to comment Share on other sites More sharing options...
Jeff Matthews Posted February 20, 2021 Share Posted February 20, 2021 36 minutes ago, Schu said: why would you do that... we're REPLACING institutions, which are a 'single point of failure' and replacing it with personal responsibility... you, personally, are responsible for your financial safety and administration. we are trying to 'decentralize' financial security. Anticipating your next thought, currently FDIC insures your deposits to a level and it is backed by the central government... that's not saying much these days as your dollar continues it's RAPID debasement. DEX's (decentralized exchanges, where you buy your cyrpto) is also insured to roughly $250k... it's just not insured by the federal government. If that scenario is not 'safe' enough for you... a couple of the DEX's have in fact been chartered to be banks. if that is still not enough for you, centralized banks are authorized to be custodians for Cryptocurencies. Nope. Not buying. People have made a bundle, but... It's not realized. Cash out. Then, you're a real winner. Still, there is no way I will ever put my money at permanent risk of loss due to losing a password. That has to be a nightmare to an estate's beneficiaries and heirs. In fact, I had a recent client find a receipt from Bitcoin Exchange and wonder how on earth they would ever get to the Bitcoin of her deceased husband. Fortunately for her, it was a scam email, and there was no Bitcoin. Good luck to those of you who trust it. I'm not saying you will ultimately lose. Just be very careful. Think of it like this. Unclaimed Bitcoin will grow over time as the result of people who are unfortunate enough to lose passwords. There will always be more people doing this, but by definition, they will not be making any more Bitcoin. Who wants to place bets on when Bitcoin degrades to a 100% unclaimed funds? Quote Link to comment Share on other sites More sharing options...
Schu Posted February 20, 2021 Author Share Posted February 20, 2021 if you have ANY interest in learning or understanding... watch this interview between michael saylor and a financial reporter. She gets schooled because she DOESN'T understand what bitcoin is. it's worth the 10 minutes to watch/ Quote Link to comment Share on other sites More sharing options...
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