If you wanted to sell me some land. Say 250,00.00 worth. I could sell less than 100 that I own and pay you cash for that land. What's the rub? I bought each and every one of those Bitcoins for .08. In other words, for 8 Bucks out of my pocket, I could buy your land and you could have the cash.
OT- Bitcoin
- Thread starter redwine65
- Start date
Today, my physical Bitcoin is just as valuable as any of your assets. I can turn it into cash in a couple hours.
this is assuming there is and will always be demand for 100 fictitious, non-existent digital-only "assets", which, in my opinion, is somewhat of a stretch
I've just given you the utility of Bitcoin. Your numbers in the bank are nothing more than digits also.
I really won't defend BTC anymore, because we're turning this into another Deion thread scenario.
If you recall on that one, I checkmated you kong. I even took your king.
It's all good, we were chasing our tail in that conversation yesterday, and this is a repeat of that colossal waste of time. (But,it was fun).
But, you're holding a much stronger hand today. How about some Texas Hold 'Em?
I view it similar to any speculative investment - and this is probably where others will correct. But ultimately I don’t see the difference of buying bitcoin when you did as someone else buying apple or Amazon at extremely low values.
The biggest difference I see is that a company’s performance can help move the stock upward or downward and the business has value. What increases the value for bitcoin? Hype? In that sense I worry that it’s a modern day Tulip bulb.
Hype certainly plays a part in the market as a whole but what other ways does bitcoin increase in value? Is there a true supply/demand relationship or has it grown out of hype?
The idea that your land will always be worth what it is now is up for debate. What if your economy and tax base collapses where you live, say they bought a ton of worthless Muni bonds that go to zero? What does that do to property values and how would the taxes then be assessed?
Physical means I can turn it into cash, just like precious metals.
First of all RBig, forget what myself or others say, you are entitled to your own beliefs. Okay?
We're having a lively discussion that will lead exactly to nowhere.
The price of BTC is manipulated the same as gold, the market, the price of milk, gas, butter, and everything else in this country.
You go down the street and see 20 gas stations and they're all the same price. Why? Some bought a tankard last week at X dollars, another station bought one a month ago at that same price less 5 cents a gallon, etc, yet they're all still the same price.
If you have a niche that you're good at, or that's good to you, then do what you think makes the most sense.
I've never, with one exception to Tampa Bay today, suggested to anyone to buy Bitcoin. People either buy into it, or they don't.
Why should I care what anyone does with their money? I do my thing, and so far, not too bad of a job. I'm almost 70 years old and I have a history or having made a lot of good decisions. I've also made some bonehead plays, but never a serious one.
Financial matters should be considered based on your own research, experience and gut feeling.
What kong or I believe, should have no bearing on what you think.
I have a good friend that lost over $ 750,000.00 due to an underfunded pension plan that I tried to get him out of about 15 years ago. I could only try so hard to convince him that he was headed for disaster if THIS happened, and it did.
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Checkmated!
Now that was a good laugh!
The utility of Bitcoin - on its very best day - is that you can find somebody somewhere to trade you their actual money for it
Seems I understand this fictitious “asset” perfectly
I hope for your and everyone’s sake this next “big one” there’s “no coming back from” leaves enough people with computers and internet access so they can utilize their bitcoins (lol)
You just defined “liquid.”
I was anti Bitcoin for awhile but have since changed my tune and started accumulating. I think it it will dip to the low $20k or lower before some big moves next year on. But don’t take my word for it…follow the big smart money.
“BlackRock boss Larry Fink has upped his bullish stance on cryptocurrency as an investment, today saying that “it’s going to transcend any one currency.”
The CEO of the world’s largest asset manager said in a Friday interview with CNBC that although he couldn’t talk about Bitcoin specifically as BlackRock had filed an application with the U.S. Securities and Exchange Commission for a spot market Bitcoin ETF, crypto “has a differentiating value versus other asset classes.”
BlackRock—which manages $9.5 trillion in assets—last month applied to the SEC for a spot Bitcoin exchange-traded fund, leading institutional investors to pour money into the space and in turn causing the asset to jump to a 12-month high.”
You don't have to find anybody that wants to trade. Thats what the ****ing exchanges are for.
It's like if you have 5 shares of something that are 20.00 a share, and I want to buy 5 shares of that stock for 20.00 each.
I don't buy them from YOU, I buy them from the exchange (market).
It won't make any difference to me. I'm already whole. HAHA
Pooh pooh what's coming down the pike. You can cry on my shoulder later.
You don’t know how exchanges work?
They’re a brokerage - there absolutely has to be a buyer in order for there to be a seller
You buy those shares from a seller, not the NYSE
Of course its liquid. I've talked about physical metals being liquid a 100 times on this board.
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Typically, the crooks tell you what they're gonna do before they do it.
I wouldn't put 2 cents in his ETF. But, that's only me.
I can sell BTC on Coinbase in the next 5 minutes at market. Don't tell me how the ****ing exchange works.
I don't take marital advice from someone who's been divorced, I don't take financial advice from people that are broke, and I don't take Bitcoin advice from someone who doesn't hold any. I generally don't take advice, because I don't need to.
That’s because there is demand (buyers) today
I wouldn’t count on a non-existent non-physical non-liquid digital asset to always be in demand
Seriously, though. Please tell me you know how exchanges work.
The stuff you hope to trade it for (cash) is liquid
That you are always a step away (trade/sale) from realizing value defines it as non-liquid
Look, this discussion is pointless. You think I made it to almost 70 years old by being stupid?
Is there a straight line between IQ and longevity?
I know there’s a straight line between leg strength and longevity.
Exchanges simply provide a platform for buyers & sellers to meet. They do not buy or sell anything (duh).
kong, let me say this one time. I don't need the money. I'll never need the money.
If you had an idea of exactly where I am setting you would understand.
When you've been debt free for decades, you need very little money. If Bitcoin tanks, the losers are my kids and grandchildren whom I bought BTC for. They'll suffer no harm from it, since they have no out of pocket money involved.
Fast forward to when you get to be 70, and see how your outlook changes. I don't have to fight a battle, I already won.
My expertise is in Exercise Physiology, so I'm up to a debate about leg strength.
In a falling market, you think Bitcoin is hard to find someone who wants to buy?
I'll go another couple posts, then I'm done here and we will have accomplished exactly nothing.
When I get into a financial discussion, my hope is that your or I and others, pass along some good suggestions for those that may be looking at alternatives. Its not to argue mine is better than yours or vise versa. We have what we have. That should be good enough.
Now you didn't answer my question about the land you think you own.
In the grand scheme of things, I don’t really care. But Warren Buffet, possibly the most skilled investor in our lifetime, agrees with you:
“If you said … for a 1% interest in all the farmland in the United States, pay our group $25 billion, I'll write you a check this afternoon," Buffett said. "[For] $25 billion I now own 1% of the farmland. [If] you offer me 1% of all the apartment houses in the country and you want another $25 billion, I'll write you a check, it's very simple. Now if you told me you own all of the bitcoin in the world and you offered it to me for $25 I wouldn't take it because what would I do with it? I'd have to sell it back to you one way or another. It isn't going to do anything. The apartments are going to produce rent and the farms are going to produce food."
You realize Buffet got his start through his 4 time Congressman father in the insider trading business? He's done fabulous, but he's made plenty of investment mistakes along the way.
Biden cut the pipeline so all the oil can be shipped by Buffet's railroads. Tough gig, huh?
He has all that he ever needs, and so do I. I just have a lot less, but more than many.
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In the event of a global collapse - when tangible things are at an extreme premium - I think it would be impossible to find a buyer for a fairy tale currency with zero tangible value
My land is owned outright, paid for with cash. Its value will fluctuate (duh), but there is a ZERO percent chance it will be completely worthless one day.
There will always - ALWAYS - be somebody out there with cash who wants it.
Since you don't hold any, then why are you worried? I'm not worried about me, why should you?
Of course Black Rock is getting involved in Bitcoin because they think it will go to zero.
I heard somewhere, they're pretty plugged in.
Checkmate? 🤣
I like lively discussions.
I really don’t know what Bitcoin is (nobody does because it isn’t anything). Was hoping to learn something.
Sigh
Don't pay your taxes on that property for 2 years and we'll see who actually owns it.
Someone convinced against their will, remains unconvinced still.
C'mon, be honest kong. You weren't looking to learn anything.
You're so narrow minded you can see through a keyhole with both eyes.
But,I do love these dust-ups until we both get sick of saying the same ole shit. LOL
Couldn’t I say the same about losing your password to your digital wallet?
I want to learn
I always have an open mind & am constantly convinced of things here and in daily life
It’s why I spend so much time listening to people I perceive as unlikeable
