OT- Bitcoin

[Huskers123456]

I will try to explain it in layman's terms

Bitcoin is still relatively new, and you have so many people out there (like you) that just don't understand it.
So

Gold gets it's value based upon its scarcity. There is only "x" amount of gold, and when the inflation goes up gold holds stronger than traditional stocks but is does go down as people tend to sell when they need more money. That typically happens when people have to pay more money for things and are living off investments (typically retired people).

Bitcoins supply is set at 21,000,000 total and there have been roughly 19,200,000 mined so far which leaves 1,800,000 left to be mined. Less and less will be mined every halving event which makes each one harder to get. This makes the value of it go up just like the value of gold.

Why not just buy gold?

Gold currently is the safer play, but more money is to made in bitcoin due to it being so new, and less adoption. So people that understand it (the charts) can make more gains in a shorter time period.

Why can't they just make more Bitcoin?

Bitcoin has what is called a digital policy ID, and because of this you can't fake new ones. It is impossible to duplicate the same Policy ID on blockchain technology. This is what make the value go up at the halving events which happens every 4 years.

I could keep going and explain it more, but this give you a solid base

Ok. Got that. But gold is actually a physical metal. If I magically landed in some remote place that had never had technology then I could probably sell gold that I physically had on me to buy food or a way home. So gold is always a strange comparison for me.

It's not a true currency to me in that it's not backed by a government. Yeah, I know, people will tell me that our money isn't truly worth anything either. But the fact is our currency is backed by a government that has been around for hundreds of years and proven reliable.

I keep going back to baseball cards. They only printed so many 1988 Donruss baseball cards. They are worth what someone will pay me. If people stop buying bitcoin is it not essentially worthless?

 

[litespeedhuskerfan]

With all the corruption within the different exchanges i'm surprised BTC has rebounded so well.

 

[SuperBigFan]

Ok. Got that. But gold is actually a physical metal. If I magically landed in some remote place that had never had technology then I could probably sell gold that I physically had on me to buy food or a way home. So gold is always a strange comparison for me.

It's not a true currency to me in that it's not backed by a government. Yeah, I know, people will tell me that our money isn't truly worth anything either. But the fact is our currency is backed by a government that has been around for hundreds of years and proven reliable.

I keep going back to baseball cards. They only printed so many 1988 Donruss baseball cards. They are worth what someone will pay me. If people stop buying bitcoin is it not essentially worthless?

Yep

Again, just like if women stop wanting diamonds engagement rings and start wanting ruby rings...the diamond industry all but folds.

Doesn't mean you still can't make a fortune off crytpo but in the end your hope is to sell it for real money.

 

[Huskers123456]

I could get into Alt Coins and their purpose as well as NFT's, but all you really need to know is the technology is being made to take over traditional banking. This is why you hear the negative press all the time. You think the banking industry wants to lose out on all those interest rates they take from us?

Big Oil is going to eventually lose out to the smarter play in electric cars. Just like banks are going to eventually lose to digital currency. You are talking Trillions of dollars switching hands in these moves. Why do you think people are so negative about Electric Cars and Crypto? I can tell you this... it's not because they are fads that are going to fade out.

New inventions that make things better will always prevail over its predecessor. Just the way it works, and blockchain technology and electric vehicles will eventually (maybe not in my lifetime) take over Big Oil and the Banking industry.

Big oil isn't going anywhere. All these growing 3rd world countries aren't switching to electric cars. Plus, people underestimate the amount of oil used in manufacturing. I think it's a balancing act. Oil becomes more scarce, usage might drop a little with technology. But technology also allows new and cheaper ways to drill and refine oil.

 

[big red22]

Big oil isn't going anywhere. All these growing 3rd world countries aren't switching to electric cars. Plus, people underestimate the amount of oil used in manufacturing. I think it's a balancing act. Oil becomes more scarce, usage might drop a little with technology. But technology also allows new and cheaper ways to drill and refine oil.

Pencil and Paper = Horse and Buggy
Typewriter = Train
GUI Computers = Automobile
Google/Reddit (Web 2.0) = Planes
Blockchain (Web 3.0) = Electric Vehicles

Things always adapt and become more popular than it's predecessor, because quite honestly it is just better than what was previously used. You don't have to understand it, but I can promise you when you hear news about Goldman Sachs buying Bitcoin or Wells Fargo etc... they are doing it when the price is in a bear, because they know they need their foot in the door to compete in the future. Believe it or don't, it doesn't matter to me one way or the other. I know what I am looking at and investing in, and I am 100% comfortable with it. That is all that matters. If it goes to zero I lose, but if it doesn't I make money.

 

[Streamer15]

Pencil and Paper = Horse and Buggy
Typewriter = Train
GUI Computers = Automobile
Google/Reddit (Web 2.0) = Planes
Blockchain (Web 3.0) = Electric Vehicles

Things always adapt and become more popular than it's predecessor, because quite honestly it is just better than what was previously used. You don't have to understand it, but I can promise you when you hear news about Goldman Sachs buying Bitcoin or Wells Fargo etc... they are doing it when the price is in a bear, because they know they need their foot in the door to compete in the future. Believe it or don't, it doesn't matter to me one way or the other. I know what I am looking at and investing in, and I am 100% comfortable with it. That is all that matters. If it goes to zero I lose, but if it doesn't I make money.

Blockchain is going to happen and it will upend a number of businesses in finance, as you have said. BTC and alt coins are not likely to make it because of our govt. I want it to happen, but, sadly, I dont think it will. I hope I am wrong and you walk out of this a billionaire.

 

[big red22]

Yep

Again, just like if women stop wanting diamonds engagement rings and start wanting ruby rings...the diamond industry all but folds.

Doesn't mean you still can't make a fortune off crytpo but in the end your hope is to sell it for real money.

Currently that is the case, but are Credit Card transactions "real money"? Cause crypto will be able to produce transactions faster than a credit card sooner than you think.

 

[big red22]

Blockchain is going to happen and it will upend a number of businesses in finance, as you have said. BTC and alt coins are not likely to make it because of our govt. I want it to happen, but, sadly, I dont think it will. I hope I am wrong and you walk out of this a billionaire.

If our government does not adapt to cryptocurrency the USD will be worthless and the rest of the world will pass us by

 

[Streamer15]

If our government does not adapt to cryptocurrency the USD will be worthless and the rest of the world will pass us by

There will be US digital currency run on blockchain but I highly doubt it will be tied to BTC, ETH, or any other alt coin. This will cause the value of BTC to crater.

 

[GoGophers_NoBigRed]

But gold is actually a physical metal. If I magically landed in some remote place that had never had technology then I could probably sell gold that I physically had on me to buy food or a way home. So gold is always a strange comparison for me.

Have you ever tried to exchange gold for food or a ride home? I don't think it's as easy as you think. First, the person at the grocery story probably isn't even authorized to accept gold as a form of payment - you'd have to talk to the manager, but even that person probably isn't authorized to accept it, unless it was a mom and pop type of store. But then, that person still isn't a jeweler, so just because you say this ounce of gold is real gold, how would they know? Plus, even if you could convince the person that it's real gold, how much food would you expect in exchange?

If you take those questions seriously, I think you'll find that your gold is just a hunk of metal that only a jeweler or bank is interested in.

However, if you're in one of those south american countries that is adopting crypto and you need food or a cab ride, there's a really good chance the cab driver will have his own digital wallet and will easily accept a fraction of Bitcoin in exchange for a ride.

It's not a true currency to me in that it's not backed by a government.

If the gov't doing the backing isn't on the gold standard, or some other standard, what's the value of their backing? It's really just empty words: "this current means something...until it doesn't" is about the best the gov't can say on the matter.

I keep going back to baseball cards. They only printed so many 1988 Donruss baseball cards. They are worth what someone will pay me. If people stop buying bitcoin is it not essentially worthless?

Yes, but that risk is with any currency. Didn't Venezuula's currency undergo massive printing a few years ago? There's an example of a gov't back currency that went to sh*t while Bitcoin didn't.

 

[GoGophers_NoBigRed]

There will be US digital currency run on blockchain but I highly doubt it will be tied to BTC, ETH, or any other alt coin. This will cause the value of BTC to crater.

This is probably just your hope, not fact-based. For instance, the US isn't the only place where people are buying it. El Salvador adopted Bitcoin as legal tender already. It'll eventually stop and settle into a price range and then just fluctuate a little against other currencies, just like the dollar and euro do now. But the US having it's own digital currency isn't going to do squat to the price of Bitcoin. Heck, most people who are crypto enthusiasts want nothing to do with a gov't currency - that's why they go to Bitcoin in the first place.

Now imagine visiting a south american country that accepts Bitcoin. You can just go and spend without paying the fees at the airport to convert dollars to whatever, you don't get that credit card fee for every foreign transaction, etc. That's once niche advantage.

 

[big red22]

There will be US digital currency run on blockchain but I highly doubt it will be tied to BTC, ETH, or any other alt coin. This will cause the value of BTC to crater.

Do you realize how dumb our government would be to do this? The point of the blockchain is for the ease of the transfer. To make everything decentralized.

If I want to buy something at a Street stand in Tijuana and they except Peso. You can convert your USD to Peso instantly on the blockchain. That is the point of it all really. To make the transfer of currencies seamless and easy

 

[SuperBigFan]

Currently that is the case, but are Credit Card transactions "real money"? Cause crypto will be able to produce transactions faster than a credit card sooner than you think.

well you pay it off with real money...or at least I do. And how much faster? I mean, my CC is instant.

 

[SuperBigFan]

Do you realize how dumb our government would be to do this? The point of the blockchain is for the ease of the transfer. To make everything decentralized.

If I want to buy something at a Street stand in Tijuana and they except Peso. You can convert your USD to Peso instantly on the blockchain. That is the point of it all really. To make the transfer of currencies seamless and easy

Is this that big of a deal?

Most transactions are probably done online...the shit I buy from other countries on Amazon doesn't force me to convert my US cash.

I see this argument all the time but I feel like it is the same argument as when the Euro started...like 20 years ago and still only 20 countries use it and all those countries still take American dollars. I think.

 

[big red22]

well you pay it off with real money...or at least I do. And how much faster? I mean, my CC is instant.

It is all "real money". You can liquidate any crypto asset for the value it is listed at.

If I have 0.1 Bitcoin I can instantly sell it for US Dollar, Yen, Pounds, Peso, etc... and vice versa you can instantly use those government issued currencies and get bitcoin. I can do it all from my cell phone right now... it truly is that simple so I am not sure how crypto currencies aren't real money, because they all have liquid value

 

[Streamer15]

This is probably just your hope, not fact-based. For instance, the US isn't the only place where people are buying it. El Salvador adopted Bitcoin as legal tender already. It'll eventually stop and settle into a price range and then just fluctuate a little against other currencies, just like the dollar and euro do now. But the US having it's own digital currency isn't going to do squat to the price of Bitcoin. Heck, most people who are crypto enthusiasts want nothing to do with a gov't currency - that's why they go to Bitcoin in the first place.

Now imagine visiting a south american country that accepts Bitcoin. You can just go and spend without paying the fees at the airport to convert dollars to whatever, you don't get that credit card fee for every foreign transaction, etc. That's once niche advantage.

I kept a close eye on the situation in El Salvador while I held ETH and BTC. If countries with bigger economies followed suit, I was going to increase my position.

I am not wishing for BTC to fail, but I think it will over time. I really like the idea of an independent crypto currency working, because I don't trust our govt.

My only gripe with crypto is that people I know, who didnt have money to lose, blindly bought alt coins and lost a lot of money. I guess its not much different than penny stocks.

 

[Streamer15]

Do you realize how dumb our government would be to do this? The point of the blockchain is for the ease of the transfer. To make everything decentralized.

If I want to buy something at a Street stand in Tijuana and they except Peso. You can convert your USD to Peso instantly on the blockchain. That is the point of it all really. To make the transfer of currencies seamless and easy

Ease of transfer and decentralization are independent of each other.

 

[big red22]

I kept a close eye on the situation in El Salvador while I held ETH and BTC. If countries with bigger economies followed suit, I was going to increase my position.

I am not wishing for BTC to fail, but I think it will over time. I really like the idea of an independent crypto currency working, because I don't trust our govt.

My only gripe with crypto is that people I know, who didnt have money to lose, blindly bought alt coins and lost a lot of money. I guess its not much different than penny stocks.

Everything has "lost money" in this bear market. They only lost if they sold, and I am assuming they did

 

[big red22]

btc to the moon. Just refinanced my house and bought 20 btc

I still have never got the answer if this guy truly bought 20 Bitcoin on December 26th of 2020. He would be about even right now and would of doubled his money if he sold at the peak at the end of 2021.

20 BTC (December 2020) = 30k Price = $600,000USD

20 Bitcoin (November 2021 All Time High) = 69k Price = $1,380,000

I mean not a bad profit in 11 Months 780k

Let's say he bought Cardano instead the same amount on the same date.

600k USD @ $0.15 USD (December 2020) = 4,000,000 ADA (Cardano Currency)

4,000,000 ADA (December 2020) = $0.15 Price = $600,000USD

4,000,000 ADA (August 2021 All time high) = $3.10 Price = 12,400,000 USD

Current ADA Price is $0.30 he'd still be able to cash out doubling his profit.

It is all about knowing the market, listening to the people that know a thing or two about it, using money you can and having patience.

 

[Streamer15]

Everything has "lost money" in this bear market. They only lost if they sold, and I am assuming they did

A lot of things will bounce back. There is zero chance of a future with 1000 independent coins existing. Most, if not all of those, will end up being worth zero.

 

[Streamer15]

I still have never got the answer if this guy truly bought 20 Bitcoin on December 26th of 2020. He would be about even right now and would of doubled his money if he sold at the peak at the end of 2021.

20 BTC (December 2020) = 30k Price = $600,000USD

20 Bitcoin (November 2021 All Time High) = 69k Price = $1,380,000

I mean not a bad profit in 11 Months 780k

Let's say he bought Cardano instead the same amount on the same date.

600k USD @ $0.15 USD (December 2020) = 4,000,000 ADA (Cardano Currency)

4,000,000 ADA (December 2020) = $0.15 Price = $600,000USD

4,000,000 ADA (August 2021 All time high) = $3.10 Price = 12,400,000 USD

Current ADA Price is $0.30 he'd still be able to cash out doubling his profit.

It is all about knowing the market, listening to the people that know a thing or two about it, using money you can and having patience.

How are you making money with crypto? Buying and holding? Are you trading?

 

[SuperBigFan]

It is all "real money". You can liquidate any crypto asset for the value it is listed at.

If I have 0.1 Bitcoin I can instantly sell it for US Dollar, Yen, Pounds, Peso, etc... and vice versa you can instantly use those government issued currencies and get bitcoin. I can do it all from my cell phone right now... it truly is that simple so I am not sure how crypto currencies aren't real money, because they all have liquid value

Yes, I agree...

but until you sell it is not real money because basically no one uses it, yet.

 

[GoGophers_NoBigRed]

Is this that big of a deal?

Most transactions are probably done online...the shit I buy from other countries on Amazon doesn't force me to convert my US cash.

Maybe not a big deal, but your money is being converted to a different currency, it's just happening after you make your purchase and somebody else is paying the conversion fee.

So foreign sellers could, for instance, sell their products for either US Cash or the equivalent amount of Bitcoin and they'd make more money by accepting the Bitcoin. Kinda similar to how some small businesses now list the "cash" price and mention they're adding a fee if you use your card. They don't want to keep paying the credit card company for the transaction, just like foreign businesses would prefer not to pay the US cash conversion fee.

Small deal in terms of one purchase, but over time it would mean financial institutions would lose their "cut of the action". Think about all of the BMW's and Mercedes' that get purchased in US currency. ALL of that needs to be converted and sent to Germany. Over time, that's a lot of cost.

 

[GoGophers_NoBigRed]

A lot of things will bounce back. There is zero chance of a future with 1000 independent coins existing. Most, if not all of those, will end up being worth zero.

This is agree with. Maybe a few small ones will stick around SOLELY as currency for a VERY specific online game or something, but in general, most will fold. Kinda like the tech stocks from 25 years ago.

 

[SuperBigFan]

Maybe not a big deal, but your money is being converted to a different currency, it's just happening after you make your purchase and somebody else is paying the conversion fee.

So foreign sellers could, for instance, sell their products for either US Cash or the equivalent amount of Bitcoin and they'd make more money by accepting the Bitcoin. Kinda similar to how some small businesses now list the "cash" price and mention they're adding a fee if you use your card. They don't want to keep paying the credit card company for the transaction, just like foreign businesses would prefer not to pay the US cash conversion fee.

Small deal in terms of one purchase, but over time it would mean financial institutions would lose their "cut of the action". Think about all of the BMW's and Mercedes' that get purchased in US currency. ALL of that needs to be converted and sent to Germany. Over time, that's a lot of cost.

Yeah, that is an interesting point.

I am all for crypto, I don't think it will be what some people it will be but if I (or you) can make some profit off it, that is great!

 

[SuperBigFan]

This is agree with. Maybe a few small ones will stick around SOLELY as currency for a VERY specific online game or something, but in general, most will fold. Kinda like the tech stocks from 25 years ago.

That is a great comparison! Man, those start-ups in tech back in the day, it was the wild wild west of investing and stock options (if you worked for one)

 

[big red22]

How are you making money with crypto? Buying and holding? Are you trading?

Currently I am DCAing into the market, and have been since late 2020, and I don't plan on selling much until retirement. I will sell some in 2025 I am sure, but I will continue to stay in the market until retirement and death. Let my son sell it or use it

 

[GoGophers_NoBigRed]

I am not wishing for BTC to fail, but I think it will over time. I really like the idea of an independent crypto currency working, because I don't trust our govt.

First off, thanks for the fair reply. Your comments about trusting the gov't are why I think more "3rd world" countries will keep trying it. How often do you want new leadership to come in with a new currency that will tank again on you when socialism fails and the printing of paper money begins? So I think they'll get fed up faster than the citizens here and it'll be a currency that starts out in those countries and works it's way into more established economies.

My only gripe with crypto is that people I know, who didnt have money to lose, blindly bought alt coins and lost a lot of money. I guess its not much different than penny stocks.

Not to sound harsh/mean, but why take it out on crypto - just like you wouldn't take it out on the stock market if they bought penny stocks, like you mentioned.

Also, if those alt coins still held their value, does that imply you'd be pro-crytpo?

(Sorry about the smiley face if this is a touchy subject.)

 

[Huskers123456]

Pencil and Paper = Horse and Buggy
Typewriter = Train
GUI Computers = Automobile
Google/Reddit (Web 2.0) = Planes
Blockchain (Web 3.0) = Electric Vehicles

Things always adapt and become more popular than it's predecessor, because quite honestly it is just better than what was previously used. You don't have to understand it, but I can promise you when you hear news about Goldman Sachs buying Bitcoin or Wells Fargo etc... they are doing it when the price is in a bear, because they know they need their foot in the door to compete in the future. Believe it or don't, it doesn't matter to me one way or the other. I know what I am looking at and investing in, and I am 100% comfortable with it. That is all that matters. If it goes to zero I lose, but if it doesn't I make money.

I think you are confused. I'm not anti-bitcoin or anti-green energy. I just think people get all excited about this stuff when the reality is technology takes longer then people want to admit. People wanting to get rid of oil have no idea how much oil is integrated into our everyday lives.

 

[Streamer15]

Currently I am DCAing into the market, and have been since late 2020, and I don't plan on selling much until retirement. I will sell some in 2025 I am sure, but I will continue to stay in the market until retirement and death. Let my son sell it or use it

If I can be nosey, are you DCAing into other things too? Is crypto a big percentage of your net worth? Ignore this if its too personal. I am just curious.

 

[big red22]

If I can be nosey, are you DCAing into other things too? Is crypto a big percentage of your net worth? Ignore this if its too personal. I am just curious.

I have a Pension and a Roth too

 

[itseasyas1-2-3]

Then why if I bought Bitcoin at $60k in ‘21 did it lose half its value ? Wasn’t Bitcoin supposed to be a hedge against inflation?

Not saying Bitcoin won’t outperform the dollar or even the s&p500 over the next 10 years, but I won’t be investing heavily until I see how it does in a recession. If it performs similar to s&p then I’m in, but id like to see how it does once we hit recession later this year.

I was an early adopter of BTC based on my son's recommendation in 2009. I didn't buy any more until it reached 300.00 each, then bought more at 600.00 each. The last whole BTC purchases I made was purchasing 6 each at 1,200.00 for my two oldest grandsons.

Since then the only BTC purchases I make are a few hundred dollars a month that I buy portions of BTC for my 2 youngest grandsons. Even at 400.00 a month, regardless of BTC price, over an 8 year period they have done well even though they have no idea they own BTC. I transferred 1/4 of the total grandsons BTC to my 2 little guys to get them more even with the older two.

As far as the Federal Reserve Note, it won't even exist in 10 years. It's being rejecting world wide and the USA great scheme of a CBDC will fail. Anyone locked into the CBDC will be screwed if they don't have an alternative way of protecting their money. Once the Universal Basic Income comes into play, so will the worldwide tax of at least 15% will milk those folks dry.

I've always looked at Bitcoin as a speculative investment with an enormous upside. Back when BTC approached 60K, I sold one and bought more physical gold. There is no way I can lose on BItcoin, regardless of its price point, even down to zero.

I was buyiong physical gold at 300.00 an ounce and silver at 4.85. Have only sold 5 ounces of gold in that period of time and that was when I arbitraged it into silver which was trading at 90/1 versus gold. My reasoning being IF, and its a big IF, the price of slver ever reverts anywhere near the traditional 16/1 ratio, I would then arbitrage those same 450 ounces of silver back into 28 oz. of physical gold. Other than that, I stand pat.

The only stock I own is in a small gold mining company that I purchased 3,000 shares (750 each) for my son, wife and 2 youngest grandsons. So far its doing well but if it goes to zero, it won't affect me. I bought those shares for my son to do the transaction.

Kudos to those who play the market. I'm just not a market guy with the High Frequency Trading platform in place. I hope everyone does well regardless of the route they choose.

 

[Streamer15]

First off, thanks for the fair reply. Your comments about trusting the gov't are why I think more "3rd world" countries will keep trying it. How often do you want new leadership to come in with a new currency that will tank again on you when socialism fails and the printing of paper money begins? So I think they'll get fed up faster than the citizens here and it'll be a currency that starts out in those countries and works it's way into more established economies.


Not to sound harsh/mean, but why take it out on crypto - just like you wouldn't take it out on the stock market if they bought penny stocks, like you mentioned.

Also, if those alt coins still held their value, does that imply you'd be pro-crytpo?

(Sorry about the smiley face if this is a touchy subject.)

All fair questions/comments. The super wealthy and political elite will do whatever it takes to protect their interest and stay in power. Crypto works against that so it will gradually be regulated into oblivion in a way where it wont cause a mass exodus out of their respective political parties, IMHO. I am also critical of a lot of other things in finance - penny stocks, lack of financial literacy programs, blood sucking financial advisors, etc.

I am pro crypto, not pro alt coins, but I am hiding it well. I don't like to see small investors hurt and I think we will see more of it.

 

[Streamer15]

I have a Pension and a Roth too

Good deal. I wish I had a pension.

 

[Streamer15]

I was an early adopter of BTC based on my son's recommendation in 2009. I didn't buy any more until it reached 300.00 each, then bought more at 600.00 each. The last whole BTC purchases I made was purchasing 6 each at 1,200.00 for my two oldest grandsons.

Since then the only BTC purchases I make are a few hundred dollars a month that I buy portions of BTC for my 2 youngest grandsons. Even at 400.00 a month, regardless of BTC price, over an 8 year period they have done well even though they have no idea they own BTC. I transferred 1/4 of the total grandsons BTC to my 2 little guys to get them more even with the older two.

As far as the Federal Reserve Note, it won't even exist in 10 years. It's being rejecting world wide and the USA great scheme of a CBDC will fail. Anyone locked into the CBDC will be screwed if they don't have an alternative way of protecting their money. Once the Universal Basic Income comes into play, so will the worldwide tax of at least 15% will milk those folks dry.

I've always looked at Bitcoin as a speculative investment with an enormous upside. Back when BTC approached 60K, I sold one and bought more physical gold. There is no way I can lose on BItcoin, regardless of its price point, even down to zero.

I was buyiong physical gold at 300.00 an ounce and silver at 4.85. Have only sold 5 ounces of gold in that period of time and that was when I arbitraged it into silver which was trading at 90/1 versus gold. My reasoning being IF, and its a big IF, the price of slver ever reverts anywhere near the traditional 16/1 ratio, I would then arbitrage those same 450 ounces of silver back into 28 oz. of physical gold. Other than that, I stand pat.

The only stock I own is in a small gold mining company that I purchased 3,000 shares (750 each) for my son, wife and 2 youngest grandsons. So far its doing well but if it goes to zero, it won't affect me. I bought those shares for my son to do the transaction.

Kudos to those who play the market. I'm just not a market guy with the High Frequency Trading platform in place. I hope everyone does well regardless of the route they choose.

Congrats on those early purchases. I wasnt that fortunate.

 

[itseasyas1-2-3]

I'm a skeptic but am open to changing my opinion here.

Where is the arbitrage?

The underlying tech, blockchain, has a lot of potential. That doesn't mean that BTC will live on.

The govt let this get away from them. Once the current admin figured out the severity of their problem, it was too late to make one big move to kill it. Now they have to kill it off slowly or risk pissing off a lot of voters.

I owned a lot of eth but exited my position as I couldn't see a future for it. It's safer for me to speculate with land.

Blockchain is used for virtually everything. Airlines, hotel, etc etc etc. Its all on blockchain.

Land is a prime investment vehicle. The only issue I have with it is when credit seizes up, and it will, where do the buyers of land come from? From borrowing money to buy that land. Very few people have the kind of coin it takes to purchase land at the elevated price it may be. That's the biggest negative for me. I always tell people, "they're not making any more land."

 

[itseasyas1-2-3]

I could get into Alt Coins and their purpose as well as NFT's, but all you really need to know is the technology is being made to take over traditional banking. This is why you hear the negative press all the time. You think the banking industry wants to lose out on all those interest rates they take from us?

Big Oil is going to eventually lose out to the smarter play in electric cars. Just like banks are going to eventually lose to digital currency. You are talking Trillions of dollars switching hands in these moves. Why do you think people are so negative about Electric Cars and Crypto? I can tell you this... it's not because they are fads that are going to fade out.

New inventions that make things better will always prevail over its predecessor. Just the way it works, and blockchain technology and electric vehicles will eventually (maybe not in my lifetime) take over Big Oil and the Banking industry.

I don't own any alt coins as they have been deemed as investments and will be treated the same way as stocks. The only crypto I own is BTC because it has been determined by the SEC as a commodity. And its treated as such.

 

[Streamer15]

Blockchain is used for virtually everything. Airlines, hotel, etc etc etc. Its all on blockchain.

Land is a prime investment vehicle. The only issue I have with it is when credit seizes up, and it will, where do the buyers of land come from? From borrowing money to buy that land. Very few people have the kind of coin it takes to purchase land at the elevated price it may be. That's the biggest negative for me. I always tell people, "they're not making any more land."

I am excited to see what happens with smart contracts on BC. If it can be applied to wipe out the parasites in the financial system, I'll be one happy person.

 

[itseasyas1-2-3]

With all the corruption within the different exchanges i'm surprised BTC has rebounded so well.

Every stock is owned by the DTCC through the Cede Corp. Research the DTCC and you'll see what I mean.

 

[itseasyas1-2-3]

I have a Pension and a Roth too

Just beware when the market crashes, most of those pensions are tied to derivatives and credit default swaps and will implode.