I know people who will bet weekly on football as if it's a near certainty. Those same people have often tried to tell me, since 2015, that bitcoin is a bad investment.
Bitcoin
- Thread starter TarHeelNation11
- Start date
I was thinking about getting in on this, but then I remembered I have no money.
It definitely won't go to zero. It has value as a currency.
It just doesn't have any intrinsic value (stocks have intrinsic value - even if no one will buy the stock from you, you still have the rights to the earnings of the underlying company. Bonds have intrinsic value - even if no one will buy it from you, you're still entitled to the interest and principal payments). If no one is willing to buy bitcoin from you... you've got nothing.
Me too. We could pool our resources.
Naught + Naught = Naught
Not at all true, bitcoins intrinsic value lies in its mining and in its utility. To think it hasn't already proven itself there is false. Those looking for traditional valuation of it as an asset have already missed the boat. There will always be someone willing to buy Bitcoin, don't kid yourself.
I mean that's similar to what I had said. It has value as a currency due to the mining and the utility and all that. But that value isn't intrinsic - without someone willing to buy it from you, you can't get anything from it (just like all commodities and currencies).
I'm sure there will always be someone willing to buy Bitcoin, I don't doubt that at all. But why do you think they'll always be willing to pay $17k USD or more for it? What if blockchain is indeed the wave of the future, but it's another currency that chokes out BTC and LTC?
I would argue, and so would lots of folks, that mining and utility is intrinsic. I wouldn't say btc will always be valued at 17k or more as a certainty, but I'd bet going higher in the near future before I would bet on it going below that. And if another currency comes along and knocks it off its perch, more power to it. I'm going to very likely be in on the ground floor of that too. No one is saying don't diversify. I have already done so, just as any good stock market trader would.
We have Beaver Bucks here in Beaver City, NE. Anyone want in on the action?
You can spend them at Kelly's Grocery Store. The coffee shop or the Beaver Bar and Grill. It's a great deal. I can hook y'all up.
So when are we all going to get together and make OOTBcoin?I'm ready to starting making some money.
Sounds like a good opportunity to buy. I'll give it a few more days. Once it gets down to $20 next Friday, I'll buy a few.
A co-worker is all amped up about the bitcoin...He explained to me how it works and gushed about all the money he was making and his friends were making. He suggested that I get involved fast, and that is when I asked him, all I have heard about is the winners, what about the losers? With lots of people making bank off of bitcoin there must be lots of losers...Sounds like a pyramid scheme to me...If it sounds too good to be true......signed, one of the olds..
Then he did a horrible job explaining it to you. It's nothing like a pyramid. First of all, unlike a traditional pyramid no one is recruiting for the promise of payment. Just like gold, it's value is driven by supply and demand. Just like stocks it has winners and losers. People who get in on the ground floor of a good stock make more than people who get in after the price has already peaked. And even then, only if you kept some of it long term. Which is exactly a strategy that I have employed and it works out more times than not. And I do mean SOME of it. I do not keep all of it at whatever value I buy it. I sell some at the first sign of a tiny amount of profit. That way I can offset losses if it happens to go bad for me.I also move some of my longer term (btc I bought a while back at much lower prices than today) bitcoin around to other currencies if dips happen and I want to ensure some of my value.
Yesterday, anyone could have bought 1 bitcoin for $11k, turned a $2k profit in two hours and got out of it. None of your profit would go to anyone else, its all yours. You were not required to be in on the ground floor of bitcoin to do that. Yesterday I said, buy the dip. That was sound advice. The dip was $11k. Today it's at mid $15k. Anyone could of taken that advice and I wouldn't have seen a dime from your gain. Not bad for sitting on ass and doing nothing for 24 hours.
Math is forever. Bitcoin is a level playing field. It cannot be controlled by anyone. I'd trust it before I did any government attempting to manipulate the value of it's own currency.
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Bitcoin is a lot like gold but, in no way is it anything like shares of stocks...
Incorrect. Sure in some ways its not like a stock, but in others it is. See my previous posts ITT for a lot of the similarities already defined. It will soon be regulated by the SEC...like stocks and securities. It is traded on a market...like stocks. It has a large community of people seeking it out as investment...like stocks. So yes, in some ways....its like stock.
Obviously where it's not like a stock is how it's valued. Cryptocurrency, by its very nature, cannot accurately represent value if it is perceived as being valuable itself, and as soon as we stop treating it as a means to redistribute wealth in another currency, it can get back to doing its real job — facilitating fair and reliably accountable exchange. If that’s not your endgame for participating in it, then you should get out of it entirely because you’re defeating the purpose.
So while I will definitely trade it for means of gaining wealth if I can, ultimately I am in it for different reasons as a professional.
btw, I love being a dick about this. It's like one of the few things in this world I really know a lot about.
Shares of stock have a base underlying value (the book value of the company). Not so with BC. Like I said it is much more like gold. We will just have to agree to disagree. Merry Christmas.
That is true. I was just being literal about it and picking on you a bit.
But crypto's have value in our world and they will play a role as a means of exchange in our future. There is a lot of practical value in the tech alone, such as the blockchain network and smart contracts.
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Looks like you Bitcoin guys are in luck.
http://www.foxnews.com/tech/2018/01...ptocurrency-may-be-coming-to-bunny-ranch.html
http://www.foxnews.com/tech/2018/01...ptocurrency-may-be-coming-to-bunny-ranch.html
Once they take a look at @TarHeelNation11 they won't take any amount of money, real or not. Even those girls have standards.
Right, because the privilege will be all theirs.
