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re: Avoid Bitcoin (all crypto) Like the Plague
Posted on 1/7/18 at 1:19 pm to OleWarSkuleAlum
Posted on 1/7/18 at 1:19 pm to OleWarSkuleAlum
People spend money on stupid shite all the time. I don't see why so many people want to shite on crypto. It's not your money.
I doubt a majority of the people here are taking out a second mortgage to buy in.
I doubt a majority of the people here are taking out a second mortgage to buy in.
1
Posted on 1/7/18 at 1:59 pm to philabuck
It threatens the status quo, like other posters here have astutely explained.
The thought that a middle class teacher like myself, or god forbid a broke college student, can change his/her life in three months is frightening to the old money elite.
The thought that a middle class teacher like myself, or god forbid a broke college student, can change his/her life in three months is frightening to the old money elite.
Posted on 1/7/18 at 2:01 pm to OleWarSkuleAlum
It's NOT investing. It's speculation. It's legalized gambling.
I don't care about those throwing down a couple grand like they would at any casino, but to those on this board pumping this as some can't-lose cash cow, as something safe that others can sink major reserves into, I hope you get banned when it turns south. You deserve it.
I don't care about those throwing down a couple grand like they would at any casino, but to those on this board pumping this as some can't-lose cash cow, as something safe that others can sink major reserves into, I hope you get banned when it turns south. You deserve it.
Posted on 1/7/18 at 2:03 pm to Decisions
Another salty noncoiner
What else is new
What else is new
Posted on 1/7/18 at 2:05 pm to Decisions
Posted on 1/7/18 at 2:07 pm to Decisions
What ever happened to personal accountability? People should judge based on the merits of a project.
Posted on 1/7/18 at 2:16 pm to bayoubengals88
quote:
It threatens the status quo, like other posters here have astutely explained.
The thought that a middle class teacher like myself, or god forbid a broke college student, can change his/her life in three months is frightening to the old money elite.
I guess that could be the case for some. But to me it's probably more just people's belief in the old adage of, "If it sounds to good to be true, it probably is"!
I have some "fun money" in Crypto, but the thought of folks putting money in that they truly can't afford to lose does make me nervous for them.
If people overextend and they hit it big, it's a great story.
...But if things go south, the consequences could be real ugly and long term for that middle class teacher or broke college student.
This post was edited on 1/7/18 at 2:18 pm
Posted on 1/7/18 at 2:24 pm to LSUtoOmaha
It's an anonymous internet message board. How much personal accountability can there be? I had thought the MT Board subscribed to a higher standard than pump-and-dumps and whatnot. Perhaps I was wrong.
I'm not against the blockchain tech. It's great stuff. A new currency in and of itself also is acceptable.
But none of this is worth the insane valuations we've seen here. Currency, by its very nature, does nothing but provide a medium to exchange goods. There's no service rendered, no product produced.
Most of these coins are just one small step above Monopoly money, though. They're not accepted anywhere outside of these exchanges. As someone said before, you can't buy a burger or pay off a loan with them, so they don't even achieve the purpose of currency.
I'm not against the blockchain tech. It's great stuff. A new currency in and of itself also is acceptable.
But none of this is worth the insane valuations we've seen here. Currency, by its very nature, does nothing but provide a medium to exchange goods. There's no service rendered, no product produced.
Most of these coins are just one small step above Monopoly money, though. They're not accepted anywhere outside of these exchanges. As someone said before, you can't buy a burger or pay off a loan with them, so they don't even achieve the purpose of currency.
This post was edited on 1/7/18 at 2:33 pm
Posted on 1/7/18 at 2:25 pm to OleWarSkuleAlum
The way I feel is this could be one of the biggest things to happen in our lifetime. Or it could be a complete flop. There is a bunch of money to be made right now. I am not going to put a ton of money into this because there is always the chance that it's all shut down or at least severely hindered. If I lost everything I have in it, it wouldn't break me.
If this gets even half as big as it could get, you will have always wished you would have put a little money into it
If this gets even half as big as it could get, you will have always wished you would have put a little money into it
Posted on 1/7/18 at 2:27 pm to Moots
Meh. When you're young.. You should make risky investments
Honestly this board has given terrible investment strategies for years
Buy under armour? Buy oil? Buy housing during a bubble? Could go on and on
And they've gonna be critical of us? That's beyond amusing
Honestly this board has given terrible investment strategies for years
Buy under armour? Buy oil? Buy housing during a bubble? Could go on and on
And they've gonna be critical of us? That's beyond amusing
Posted on 1/7/18 at 2:30 pm to Decisions
quote:
something safe that others can sink major reserves into
You folks can keep repeating this until it you are blue in the face. Not one person in our group is advocating for anybody to sink their life saving into this venture. In fact most sink less than a grand, have already pulled out that grand and are using house money.
But for sure just keep repeating the same old tired argument over and over and over if it makes you sleep better at night.
Posted on 1/7/18 at 2:31 pm to Decisions
quote:
As someone said before, you can't buy a burger or pay off a loan with them, and yet people think they should be valued as much as the Dow Jones
quote:
Central Texas Gun Works pioneered bitcoin purchases among Texas firearms dealers in 2014. The Austin-based store accepts bitcoins for online and in-store sales.
quote:
Should you find yourself and your bitcoins in St. Paul, Minnesota, and in need of a casket, then you're in luck: Crescent Tide Funeral & Cremation is there for both of you (with a 3 percent discount, no less).
quote:
he best news for bitcoin enthusiasts may be that pubs have been among the earliest adopters and most ardent supporters of the currency. The historic Old Fitzroy in Sydney, for instance, became Australia's first bitcoin-friendly bar in 2013.
quote:
In 2014, the D Las Vegas and its sister property, the Golden Gate Hotel & Casino, made Sin City history by accepting bitcoins at their front desks, restaurants and gift shops
quote:
There are some awesome-looking properties showcased on Bitcoin Real Estate. Our favorite: the eight-bedroom, six-living-room, seven-bathroom Australian abode that can be had for the bitcoin equivalent of $3.5 million.
Posted on 1/7/18 at 2:33 pm to Decisions
Didn't realize you could buy a burger with the Dow Jones
Posted on 1/7/18 at 2:37 pm to Decisions
quote:
Currency, by its very nature, does nothing but provide a medium to exchange goods. There's no service rendered, no product produced.
So making that exchange faster, cheaper, safer and more convenient is not a product?
This post was edited on 1/7/18 at 2:38 pm
Posted on 1/7/18 at 2:40 pm to jimbeam
The Dow Jones was never intended to be currency. Crypto is. Stock in a company has an underlying asset. Currency's only real value is how many places will accept it. A few outliers can be listed, sure, but you'll never find as many acceptors as there are for old fashioned greenbacks.
Posted on 1/7/18 at 2:44 pm to Decisions
I’m taking my .04 ounces of gold to Wendy’s and seeing if I walk out with the equivalent in Dollars of the food I attempt to buy
Posted on 1/7/18 at 2:51 pm to MrSpock
At best it's a service, but that's the blockchain tech, not the coin. A tech that no one has exclusive rights to, mind you.
It might be one thing if say bitcoin was the only one with blockchain tech. To use the tech you had to use bitcoin. But what happens when the establishment adopts blockchain? What's the upside of bitcoin then?
I'll answer that for you: the upside is nothing. Once everyone has blockchain tech bitcoin will have nothing over the competition and sink back into obscurity.
It might be one thing if say bitcoin was the only one with blockchain tech. To use the tech you had to use bitcoin. But what happens when the establishment adopts blockchain? What's the upside of bitcoin then?
I'll answer that for you: the upside is nothing. Once everyone has blockchain tech bitcoin will have nothing over the competition and sink back into obscurity.
Posted on 1/7/18 at 2:51 pm to Moots
It’s fascinating how much some of you care what people choose to do with their money. If you don’t believe in it, that’s fine. State your disagreements. But all this doom and gloom about what other people are investing in and trading is outrageous. You don’t know if someone has $10 or $10k in a crypto. What I do know is a lot of people have been able to recoup their initial investment and use the profits to make more profit.
One of the reasons I know this bubble isn’t popping any time soon is because there is still a hell of a lot of people with OP’s mindset. When they start to convert is when everything will go tits up
One of the reasons I know this bubble isn’t popping any time soon is because there is still a hell of a lot of people with OP’s mindset. When they start to convert is when everything will go tits up
This post was edited on 1/7/18 at 2:56 pm
Posted on 1/7/18 at 2:54 pm to OleWarSkuleAlum
Neat
Posted on 1/7/18 at 2:59 pm to Moots
quote:
..But if things go south, the consequences could be real ugly and long term for that middle class teacher or broke college student.
My history:
May 2017 - $700 —> $1,400 and out
June - $700 more invested
August $700 —> $200 (who cares? It’s $700...hold.
Nov/Dec/Jan - still holding original $700 investment, but added $828 more.
Today - Suffice it to say I’m doing quite well. No one is really being irresponsible about this. We know the risk, and trust me, we know the reward even better.
Still got my stocks and Roth. Haven’t touched them.
If things go south, it’s only ugly for those that are doing really dumb things.
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