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OleWarSkuleAlum
Texas Fan
Member since Dec 2013
4938 posts

Avoid Bitcoin (all crypto) Like the Plague
quote:

“Avoid bitcoin like the plague. Did I make myself clear?” Bogle, founder of Vanguard Group Inc., said in response to an audience question at a Council on Foreign Relations event in New York Tuesday.

“Bitcoin has no underlying rate of return,” said Bogle, 88, who started the first index fund in 1976. “You know bonds have an interest coupon, stocks have earnings and dividends, gold has nothing. There is nothing to support bitcoin except the hope that you will sell it to someone for more than you paid for it.”


LINK

quote:

He's not the only skeptic. JPMorgan Chase CEO Jamie Dimon called bitcoin a "fraud," adding "it's worse than tulip bulbs. It won't end well." And billionaire investor Howard Marks called it a "pyramid scheme."


Crypto is the absolute definition of speculation. This will not turn out like you expect it.


jimbeam
USA Fan
University of LSU
Member since Oct 2011
48253 posts

re: Avoid Bitcoin (all crypto) Like the Plague
K


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93
rocket31
Toledo Fan
Member since Jan 2008
33478 posts

re: Avoid Bitcoin (all crypto) Like the Plague
Is it 2014 all over again bros?


finchmeister08
Florida Fan
Where the light is...
Member since Mar 2011
16272 posts
 Online 

re: Avoid Bitcoin (all crypto) Like the Plague
I wish it was, that way I could get in on it while it was still early.


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140
stout
Arizona Fan
Hermosa Beach
Member since Sep 2006
138106 posts

re: Avoid Bitcoin (all crypto) Like the Plague
I agree and as long as people are practical and approach it as the bubble it is then go for it.

Currency was never meant to be an investment vehicle. Blockchain will survive, though, and it will be valuable and you can't have the blockchain, in its current capacity, without the reward/coin so a coin or two have to survive the crash. No one knows which one that will be at this point and that's why the 100s of post here daily of people saying "this coin is the game changer" with no data to back that up other than their gut feelings should be stopped. It's dangerous because you have no idea how much people reading this might be speculating and what those BS predictions could cost them.


13SaintTiger
Harvard Fan
Isle of Capri
Member since Sep 2011
15004 posts

re: Avoid Bitcoin (all crypto) Like the Plague
quote:

This will not turn out like you expect it.


I know, it turned out better than I expected. I was able to pull-out my initial investment after seeing 300% growth.


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45
tduecen
LSU Fan
Member since Nov 2006
137215 posts

re: Avoid Bitcoin (all crypto) Like the Plague


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163
OleWarSkuleAlum
Texas Fan
Member since Dec 2013
4938 posts

re: Avoid Bitcoin (all crypto) Like the Plague
quote:

It's dangerous because you have no idea how much people reading this might be speculating and what those BS predictions could cost them.


I know for a fact when you have idiots on this very message board spouting stuff like the below people are going to lose a lot of money....

quote:

Not dangerous at all right now. You've said that for months and the market has shot up 1000%+

I've yet to be wrong on this board. Not too concerned about it


LINK


rocket31
Toledo Fan
Member since Jan 2008
33478 posts

re: Avoid Bitcoin (all crypto) Like the Plague
Oh I'm in idiot because I've made 10000% in less than one year.

That makes perfect sense.

Forget lambos I'll be waving down from my copter while you're crying
This post was edited on 1/7 at 11:01 am


MrSpock
Toledo Fan
Member since Sep 2015
2833 posts

re: Avoid Bitcoin (all crypto) Like the Plague
Interesting.

quote:

BOSTON (Reuters) - Vanguard Group Inc is moving to use blockchain to simplify how it updates index data underlying mutual funds, executives said on Monday, an important sign of confidence for the new financial technology.


quote:

JPMorgan Chase said Monday it is launching a blockchain-based system with two other banks to reduce global payment transaction speeds "from weeks to hours."
This post was edited on 1/7 at 11:05 am


rocket31
Toledo Fan
Member since Jan 2008
33478 posts

re: Avoid Bitcoin (all crypto) Like the Plague
I did work with fidelity this summer. They're getting highly involved into cryptocurrency

Inb4 oleskull closes his fidelity account


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49
DreauxB2015
LSU Fan
Louisiana
Member since Nov 2015
2437 posts

re: Avoid Bitcoin (all crypto) Like the Plague
You're right , I didn't expect when I bought 10 bitcoin at $480 a year ago Id sell 5 at $17k . My bank account wasn't ready but it is now . Best pyramid scheme ever!
This post was edited on 1/7 at 11:14 am


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125
stout
Arizona Fan
Hermosa Beach
Member since Sep 2006
138106 posts

re: Avoid Bitcoin (all crypto) Like the Plague
quote:

BOSTON (Reuters) - Vanguard Group Inc is moving to use blockchain to simplify how it updates index data underlying mutual funds, executives said on Monday, an important sign of confidence for the new financial technology.


I wonder if they will ever figure out a way for blockchain to survive without the need for the reward side.



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jimbeam
USA Fan
University of LSU
Member since Oct 2011
48253 posts

re: Avoid Bitcoin (all crypto) Like the Plague
quote:

Chase
then how come I can't buy ETH on coinbase with my chase debit card?


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03
MrSpock
Toledo Fan
Member since Sep 2015
2833 posts

re: Avoid Bitcoin (all crypto) Like the Plague
quote:

It's dangerous because you have no idea how much people reading this might be speculating and what those BS predictions could cost them.


Sort of like the OP and his unhealthy relationship with Marco Rubio.
This post was edited on 1/7 at 11:09 am


bayoubengals88
Wisconsin Fan
LA
Member since Sep 2007
9602 posts

re: Avoid Bitcoin (all crypto) Like the Plague
Dude. He’s 112 years old.

This reeks of Warren Buffet avoiding all tech like the plague.


gobuxgo5
Ohio State Fan
Member since Nov 2012
5145 posts
 Online 

re: Avoid Bitcoin (all crypto) Like the Plague
Rich people are embarrassed a wealth creator was had by geeks instead of them. They usually have advance inside knowledge of what’s going to boom so they can fill their pockets and use it for political favors and power.

This was spread to the peasants and the pipeline started without them and they are pissed


MrSpock
Toledo Fan
Member since Sep 2015
2833 posts

re: Avoid Bitcoin (all crypto) Like the Plague
quote:

Marco Rubio Interestingly, on Marco Rubio’s donation page, you must acknowledge that “I am making this contribution using my own personal credit or debit card, PayPal account, or Bitcoins, and not those of any business entity.”


This must make you conflicted.


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11
stout
Arizona Fan
Hermosa Beach
Member since Sep 2006
138106 posts

re: Avoid Bitcoin (all crypto) Like the Plague
quote:

Sort of like the OP and his unhealthy relationship with Marco Rubio.



People are investing their money based on OP into Marco Rubio?

Your comparison attempt makes no sense.


MrSpock
Toledo Fan
Member since Sep 2015
2833 posts

re: Avoid Bitcoin (all crypto) Like the Plague
quote:

People are investing their money based on OP into Marco Rubio? Your comparison attempt makes no sense.


It's called an analogy.

You know voting has consequences and shite.


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