OT- Bitcoin

[itseasyas1-2-3]

I'm sure next time will be different, but In a situation you describe, bitcoin will be worthless.

Would you like me to sell you a couple of BTC I ought at .08? I won't be that devastated.

I'll even spring and throw in a couple that I bought for $ 200.00.

Do you think I lose sleep overnight with the economy? Bring it on.

You're gonna be the one left holding the bag.

Do you think the stock market is for real?

 

[big red22]

What do banks have to do with bitcoin? Do you think buying bank stocks is the alternative to bitcoin? There are thousands of companies to invest in, pointing out a couple bank failures that has driven other bank stocks down is kind of odd.

What do banks have to do with bitcoin... not trying to be a ****, but you have no clue bud! Bitcoin (Crypto) is going to be a different way to manage your own finances. Why do you think the banking industry is so afraid of it. The fact that you don't know that, means you don't understand it enough to comment.

Banks are investing in bitcoin, because they know it is going to take their current roles

 

[cornhustler]

Would you like me to sell you a couple of BTC I ought at .08? I won't be that devastated.

I'll even spring and throw in a couple that I bought for $ 200.00.

Do you think I lose sleep overnight with the economy? Bring it on.

You're gonna be the one left holding the bag.

Do you think the stock market is for real?

Mister I sure would like to buy one of your BTC for .08.

 

[TampaBaySkers]

What do banks have to do with bitcoin... not trying to be a ****, but you have no clue bud! Bitcoin (Crypto) is going to be a different way to manage your own finances. Why do you think the banking industry is so afraid of it. The fact that you don't know that, means you don't understand it enough to comment.

Banks are investing in bitcoin, because they know it is going to take their current roles

Bitcoin could = gold. It kind of failed the inflation test, but did do pretty well in the long run

 

[big red22]

Bitcoin could = gold. It kind of failed the inflation test, but did do pretty well in the long run

Bitcoin is like gold in the sense that it has limited total of 21,000,000. It will eventually be all mined and at that point there will be limited availability. This is why when Bitcoin halves it typically triggers the bull. It is going to take longer and longer to get to mint a single bitcoin.

With that said, really do your research and digest "Smart Contracts". These are going to take over for mortgages (no more BS paperwork fees). Cars, Education, Land, etc... will all be able to be purchased via Smart Contracts as the Transaction ID proves you are the owner of said items.

Read this article

What Are Smart Contracts? A 2023 Beginner's Guide | SoFi

Smart contracts take advantage of blockchain technology and can be used in many industries. Learn what they are, how they work, and use-case examples.

www.sofi.com

 

[itseasyas1-2-3]

You mark my words in 2025 I am going to be bumping this thread... whether I am right or wrong. You know how many people have said Bitcoin is going to fail in the last two bear markets? Yeah me either, because they all wish they would of got in when it was 3k.

Here I thought I'd share this... You know for all those trusted banks that are going to be begging to suck more off the government teet

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The problem with banks is they are all virtually illiquid because of fractional banking.

Come 2025, I (or my wife, if I expire) will still be holding BTC, physical precious metals, remaining debt free, and knowing the right decision(s) were made along the way.

 

[Huskers123456]

The problem with banks is they are all virtually illiquid because of fractional banking.

Come 2025, I (or my wife, if I expire) will still be holding BTC, physical precious metals, remaining debt free, and knowing the right decision(s) were made along the way.

What's happening in 2025? And why 2025? Should I start on my bunker?

 

[Bugeater]

The problem with banks is they are all virtually illiquid because of fractional banking.

Come 2025, I (or my wife, if I expire) will still be holding BTC, physical precious metals, remaining debt free, and knowing the right decision(s) were made along the way.

Got a friend who's going to retire this year and he's wondering what he should do with his pension money and 401k, he's quite worried about his money evaporating before his eyes. Serious question, not trying to be a wise guy here. Thanks!

 

[Huskers123456]

Got a friend who's going to retire this year and he's wondering what he should do with his pension money and 401k, he's quite worried about his money evaporating before his eyes. Serious question, not trying to be a wise guy here. Thanks!

Spend a couple hundred bucks and sit down with a financial advisor. Not someone who will just recommend they park money where they will collect commissions.

 

[big red22]

Got a friend who's going to retire this year and he's wondering what he should do with his pension money and 401k, he's quite worried about his money evaporating before his eyes. Serious question, not trying to be a wise guy here. Thanks!

I know you didn't ask me, but I would give it to a professional if they don't know the market.

 

[itseasyas1-2-3]

Got a friend who's going to retire this year and he's wondering what he should do with his pension money and 401k, he's quite worried about his money evaporating before his eyes. Serious question, not trying to be a wise guy here. Thanks!

I wouldn't consider making any suggestions for anyone. He should find someone who knows his situation and risk level, then try to make the decision that makes the most sense to him.

 

[SuperBigFan]

Got a friend who's going to retire this year and he's wondering what he should do with his pension money and 401k, he's quite worried about his money evaporating before his eyes. Serious question, not trying to be a wise guy here. Thanks!

Buy a duplex, rent out both sides, enjoy the extra cash.

 

[itseasyas1-2-3]

I know you didn't ask me, but I would give it to a professional if they don't know the market.

I agree in the most part.

The "problem" I tend to see in those situations is that professional will tend to move that person into something that makes the most money for that advisor.

I personally think any advisor that will not try to steer that soon-to-be retiree into some physical assets is not doing a real service.

There are so many different asset classes to move into, the most important is what makes sense and maintaining a risk level that the person is comfortable with.

When you're younger, you can take a few more risks. Once your "working" days are over the security of maintaining what has been built over many years should be a huge priority.

 

[itseasyas1-2-3]

Buy a duplex, rent out both sides, enjoy the extra cash.

Lots of ways to disperse a lump sum of money and real estate can be a good choice, however, the housing market is going to tank by 30% or more, but if you own the property as a clear asset there are definitely worse ways to go.

I always tell friends they aren't making any more land.

 

[SuperBigFan]

Lots of ways to disperse a lump sum of money and real estate can be a good choice, however, the housing market is going to tank by 30% or more, but if you own the property as a clear asset there are definitely worse ways to go.

I always tell friends they aren't making any more land.

Just buy farm land, let the government pay you to not farm it, and then bitch about it still.

 

[itseasyas1-2-3]

Just buy farm land, let the government pay you to not farm it, and then bitch about it still.

LOL. Now I can't comment on that because one of my good friends is on this forum and he happens to be quite successful in his farming operation.

I've yet to hear him bitch about it though.

 

[SuperBigFan]

LOL. Now I can't comment on that because one of my good friends is on this forum and he happens to be quite successful in his farming operation.

I've yet to hear him bitch about it though.

Your friend is not a farmer...he is a unicorn! Hahaha

You know how you can tell a farmer is bitching? his lips are moving. Hahaha

 

[redli]

Would you like me to sell you a couple of BTC I ought at .08? I won't be that devastated.

I'll even spring and throw in a couple that I bought for $ 200.00.

Do you think I lose sleep overnight with the economy? Bring it on.

You're gonna be the one left holding the bag.

Do you think the stock market is for real?

Yeah, if you buy anything at the right time and sell at the right time you can make money. That's fundamentally different than an investment. My parents bought berkshire early so I'm good, you can keep your bitcoin.
Look, you might make money, and that's fine, people make money on beanie babies, but under the apocolyptic scenario you seem to have a wet dream for it won't be any more valuable than so called fiat currency.
And why do you crypto folks care so much what other people think anyway? If I think it's a bad idea that doesn't have any barring on you, if you're right you're right.

 

[itseasyas1-2-3]

LOL. Now I can't comment on that because one of my good friends is on this forum and he happens to be quite successful in his farming operation.

Yeah, if you buy anything at the right time and sell at the right time you can make money. That's fundamentally different than an investment. My parents bought berkshire early so I'm good, you can keep your bitcoin.
Look, you might make money, and that's fine, people make money on beanie babies, but under the apocolyptic scenario you seem to have a wet dream for it won't be any more valuable than so called fiat currency.
And why do you crypto folks care so much what other people think anyway? If I think it's a bad idea that doesn't have any barring on you, if you're right you're right.

I was referring to YOUR post 1,036 when you said BTC would be worthless.

It's not that I care or don't care about "what you other crypto people think", it's more like, we should all be satisfied that others do well in whatever they do with their money.

Your Berkshire has just as good of a chance of being as worthless as any crypto holder has.

Do you have the actual certificate for the shares you have or are you just mixed into a street account like 99.9% of the rest of the public? I'd be checking that if I were you.

If you think the collapse of the economy is going to be bad, just take that times 1,000 and you'll be in the neighborhood of what the reality will be.

 

[big red22]

Yeah, if you buy anything at the right time and sell at the right time you can make money. That's fundamentally different than an investment. My parents bought berkshire early so I'm good, you can keep your bitcoin.
Look, you might make money, and that's fine, people make money on beanie babies, but under the apocolyptic scenario you seem to have a wet dream for it won't be any more valuable than so called fiat currency.
And why do you crypto folks care so much what other people think anyway? If I think it's a bad idea that doesn't have any barring on you, if you're right you're right.

The old beanie baby comparison lol

 

[redli]

if it's 1000X as bad then bitcoin will be worthless, it would serve no point. It barely serves a point now. The blockchain certainly has legit applications though.
I can login and see my berkshire, they were part of a physical share transfer after my dad died and I inherited. I've sold some in the last few years and taken my money so I'm not worried about it, thanks for your concern though.

 

[SuperBigFan]

I don't think I ever realized how many doomsday preppers we had here, what is that crazy website where you can buy canned food? MyPatriotSupply.com

I swear I though that kind of stuff was a joke but I guess not.

 

[redli]

Yeah, I'm not sure why people would care about bitcoin in that scenario, the infrastructure might not even exist to transfer or spend them in that case...unless you had cold storage or something...but power might not exist so eventually the mechanism to see them wouldn't be around so you're left with some useless thumb drive. You could throw them in a pile with my pointless berkshire certificates, light them up, and use them for heat!

 

[SuperBigFan]

Yeah, I'm not sure why people would care about bitcoin in that scenario, the infrastructure might not even exist to transfer or spend them in that case...unless you had cold storage or something...but power might not exist so eventually the mechanism to see them wouldn't be around so you're left with some useless thumb drive. You could throw them in a pile with my pointless berkshire certificates, light them up, and use them for heat!

I mean, I have watch the documentary's The Walking Dead and The Last of Us. It is pretty clear that no form of currency will matter.

 

[Huskers123456]

I was referring to YOUR post 1,036 when you said BTC would be worthless.

It's not that I care or don't care about "what you other crypto people think", it's more like, we should all be satisfied that others do well in whatever they do with their money.

Your Berkshire has just as good of a chance of being as worthless as any crypto holder has.

Do you have the actual certificate for the shares you have or are you just mixed into a street account like 99.9% of the rest of the public? I'd be checking that if I were you.

If you think the collapse of the economy is going to be bad, just take that times 1,000 and you'll be in the neighborhood of what the reality will be.

Are you predicting the end of the world? Another Great Depression? Can you put me on a reminder list as this date approaches so I can speed up the fortifications around my property?

 

[drubendall]

I just follow Jim Cramer’s awesome advice

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Sagar enjoyed that way too much.

 

[itseasyas1-2-3]

if it's 1000X as bad then bitcoin will be worthless, it would serve no point. It barely serves a point now. The blockchain certainly has legit applications though.
I can login and see my berkshire, they were part of a physical share transfer after my dad died and I inherited. I've sold some in the last few years and taken my money so I'm not worried about it, thanks for your concern though.

You're welcome.

By the way, if you've ever booked a hotel room, an airline ticket, or a plethora of other items, they use blockchain technology.

You are correct when you say bitcoin "barely serves a purpose now." So you're telling me I could take 18 of the bitcoin that I bought for .08 each and buy a share of your $ 460k Berkshire Hathaway stock?

Wow, just think, that would cost me $ 1.44 (One dollar and 44 cents) out of pocket for that share. As you say, bitcoin serves no purpose.

I don't think it's likely you and I are going to see eye-to-eye on many things.
That's what makes the world go 'round.

 

[itseasyas1-2-3]

I don't think I ever realized how many doomsday preppers we had here, what is that crazy website where you can buy canned food? MyPatriotSupply.com

I swear I though that kind of stuff was a joke but I guess not.

Super, I'm not a doomsday prepper, I just have friends that lived through the economic crashes in Argentina and Venezuela. Suffice it to say, I won't be the guy digging through the dumpster or eating a dog to feed my hunger.

We have people that go ape shit when a 3-day storm hits. What are they gonna do when that 3-day storm turns into a 5-7 year storm? Because of just-in-time delivery, the large box stores only carry 72 hours of food in them.

What happens when we get into a full-blown liquidity crisis? Everything in this country is run on credit, what happens when the credit stops?

I'm not telling anyone what they should do. I've made my decisions and there will be a few surprises in store for my family and me. I can't say the same thing for 90% of the citizens in this country. As they say, we are 9 meals from anarchy. People have no food or can't eat, things get rough in a hurry.

This time the government won't be there to hand out food and water. Because they will have bought it all up. All of it.

 

[itseasyas1-2-3]

I mean, I have watch the documentary's The Walking Dead and The Last of Us. It is pretty clear that no form of currency will matter.

You're right, currency will not matter. Real money will matter.

 

[Huskers123456]

Super, I'm not a doomsday prepper, I just have friends that lived through the economic crashes in Argentina and Venezuela. Suffice it to say, I won't be the guy digging through the dumpster or eating a dog to feed my hunger.

We have people that go ape shit when a 3-day storm hits. What they gonna do when that 3 day storm turns into a 5-7 year storm? Because of just-in-time delivery, the large box stores only carry 72 hours of food in them. Then what happens when we get into a full-blown liquidity crisis? Everything in this country is run on credit, what happens when the credit stops?

I'm not telling anyone what they should do. I've made my decisions and there will be a few surprises in store for my family and me. I can't say the same thing for 90% of the citizens in this country. As they say, we are 9 meals from anarchy. People have no food or can't eat, things get rough in a hurry.

This time the government won't be there to hand out food and water. Because they will have bought it all up. All of it.

9 meals? More like 2 rolls! Most people can scrape by and make quite a few meals. The toilet paper situation was the scary part. Thank God for the rolls stashed with the camping gear.

 

[itseasyas1-2-3]

Yeah, I'm not sure why people would care about bitcoin in that scenario, the infrastructure might not even exist to transfer or spend them in that case...unless you had cold storage or something...but power might not exist so eventually the mechanism to see them wouldn't be around so you're left with some useless thumb drive. You could throw them in a pile with my pointless berkshire certificates, light them up, and use them for heat!

Nobody with half a brain has their bitcoin on a thumb drive.

In that worst-case scenario you mentioned, I guess I'll just have to rely on the only form of real money that has been around for 5,000 years and is just as welcome in Asia, South America, or anywhere in the world, just like your local coin dealer.

You act as though I have all my holdings in BTC. My wife and I have been buying physical precious metals for 40 years, or 20 years before Bitcoin was even thought of. Give me a little credit for being ahead of the game.

 

[itseasyas1-2-3]

The old beanie baby comparison lol

I'll throw in the tulips.

 

[itseasyas1-2-3]

if it's 1000X as bad then bitcoin will be worthless, it would serve no point. It barely serves a point now. The blockchain certainly has legit applications though.
I can login and see my berkshire, they were part of a physical share transfer after my dad died and I inherited. I've sold some in the last few years and taken my money so I'm not worried about it, thanks for your concern though.

Believe it or not, I was actually being sincere about that.

 

[redli]

Nobody with half a brain has their bitcoin on a thumb drive.

In that worst-case scenario you mentioned, I guess I'll just have to rely on the only form of real money that has been around for 5,000 years and is just as welcome in Asia, South America, or anywhere in the world, just like your local coin dealer.

You act as though I have all my holdings in BTC. My wife and I have been buying physical precious metals for 40 years, or 20 years before Bitcoin was even thought of. Give me a little credit for being ahead of the game.

I don't act any way because i have no idea what your holdings are. My only thesis is that bitcoin isn't a great investment, although you CAN make money in the short term if you buy and sell at the right time. I've done it a few times myself. I just don't think it's an investment. You shouldn't care what I think, though, I don't spend any time defending my investment choices to people because it doesn't matter. It's your money and your life, do whatever you want.

 

[itseasyas1-2-3]

I don't act any way because i have no idea what your holdings are. My only thesis is that bitcoin isn't a great investment, although you CAN make money in the short term if you buy and sell at the right time. I've done it a few times myself. I just don't think it's an investment. You shouldn't care what I think, though, I don't spend any time defending my investment choices to people because it doesn't matter. It's your money and your life, do whatever you want.

Personally redli, I've never looked at precious metals as an investment, moreso as protection of my purchasing power. So if it goes up or down, it doesn't make much difference because I intend to hold it as long as needed.

I was 55 years old in 2009 when I bought bitcoin. At the time, I knew exactly zero about it, but my son, who is super tech savvy, said "Pops, this is the future of money." Since he was bright enough to be the Vice President of a major technology company at the age of 33, I deferred to him. I can't say he led me astray.

Instead, had my son been in stocks, I would have said no considering I worked for a large securities company for a number of years and happened to know more than a little about high-frequency trading, I knew it was a shell game. I wouldn't have deferred to his expertise.

Although I know it's a pipedream, I hope everyone is able to position themselves to withstand what is headed our way. Sadly, you and I both know friends and acquaintances that are positioned to get clobbered.

People have grown used to Uncle Sam coming in and rescuing them every time there is an economic crisis, so they keep doing the same dumb ass stuff again and again. That's not always gonna be the case.

 

[GBRforLife1]

What do banks have to do with bitcoin? Do you think buying bank stocks is the alternative to bitcoin? There are thousands of companies to invest in, pointing out a couple bank failures that has driven other bank stocks down is kind of odd.

Not as odd as this post.

 

[Huskers123456]

Not as odd as this post.

Go on.....

 

[big red22]

Go on.....

He is saying you don't understand Bitcoin... It has everything to do with the banking industry

 

[countrybob]

Your friend is not a farmer...he is a unicorn! Hahaha

You know how you can tell a farmer is bitching? his lips are moving. Hahaha

I was reading some of the comments today and I am curious about some of your comments about farmers. Would you go into further detail on why you think the way you do. I am a farmer and find your comments interesting. Thanks

 

[redwine65]

farmers feed the world