BitCoin
Quote: rxwineDidn’t someone say Bitcoin is speculation not investment several times already, or is it just me?
I read a long time ago you should never invest in something you can't hold in your hand. Like gold or silver or a microchip. Invest in things that actually exist, not in ideas. A Ponzi is a good example of investing in something that does not exist.
Quote: EvenBobI read a long time ago you should never invest in something you can't hold in your hand. Like gold or silver or a microchip. Invest in things that actually exist, not in ideas. A Ponzi is a good example of investing in something that does not exist.
I read recently that -EV games like Roulette can't be beaten using systems.
I think the Wizard says that.
How do you feel about what the Wizard says?
If you can win big in 10-20 spins, maybe that's all you can expect for the day.
Quote: billryanEB doesn't use a system. He has a method.
He throws the chips, wherever they land and as the ball spins round and round yells out "BITCOIN SUCKS".
We were told a long time ago, even by doctors, that smoking was good for you.Quote: EvenBobI read a long time ago you should never invest in something you can't hold in your hand. Like gold or silver or a microchip. Invest in things that actually exist, not in ideas. A Ponzi is a good example of investing in something that does not exist.
Quote: darkozI read recently that -EV games like Roulette can't be beaten using systems.
I wouldn't know, I've never used the system on roulette. As I've said about a thousand times. I make educated guesses, no system involved.
Quote: AxelWolfWe were told a long time ago, even by doctors, that smoking was good for you.
Actually, no real doctor who wasn't being paid by big tobacco ever said that. The medical profession has been against smoking since the late 19th century.
Quote: EvenBobI wouldn't know, I've never used the system on roulette. As I've said about a thousand times. I make educated guesses, no system involved.
When I was four years old my pre-kindergarten teacher EDUCATED me quarters have a head and a tail.
I now make educated guesses when I flip a coin.
Quote: billryanI've never said bitcoin is worthless. I don't think it's a good investment at anywhere near the current prices. At 63,000, it needed to go to $125,000 in order for me to double my money. I don't see that happening anytime soon. Someone who bought at $60,000 now has to see bitcoin triple in value to make it a decent investment.
Not for me. If I get north of 5% a year on my investments I consider it a decent investment.
Quote: DRichNot for me. If I get north of 5% a year on my investments I consider it a decent investment.
If you lower your expectations enough, you'll be happy.
Quote: billryanIf you lower your expectations enough, you'll be happy.
I'm sure Mark Cuban looks down at your only doubling your money in the same way.
When I was homeless I lived off practically nothing. Perhaps $2 a day (although there were things I didn't pay for like free food and I didn't pay for subway rides)
While I wasn't happy, I also wasn't exactly unhappy. It was simply my situation and I found things to keep me happy (in my case reading at the library and not drugs and alcohol)
There have been stories of millionaires living pauper lives. The money just didn't do anything for them.
Everyone has different attitude about it.
Quote: darkoz
I now make educated guesses when I flip a coin.
Yeah, that doesn't work in roulette. You need to be a little better educated than that to win.
Quote: EvenBobYeah, that doesn't work in roulette. You need to be a little better educated than that to win.
I consider the Wizard to be one of the most educated in regards to gambling.
And he says you can't beat roulette without some advantage which you haven't described.
You sound like you are doing an MDawg! "I win at -EV games like roulette, just believe me, I make educated guesses".
Quote: darkoz
And he says you can't beat roulette
If I were you I would listen to him. If I were you...
Quote: AxelWolfWe were told a long time ago, even by doctors, that smoking was good for you.
Reference please. (You are better at finding them than I am...)
Quote: SOOPOOReference please. (You are better at finding them than I am...)
Quote: darkoz
Those are advertisements with actors I would assume?
And saying one is ‘less irritating’ than others is not the same as saying ‘you should smoke them’!
So can you show me evidence of a real doctor organization ever supporting cigarette use? Still waiting...
Oh Gawd!! Are you missing the point? The point is...We had been told lots of things a long time ago that was flat out wrong or that doesn't apply anymore. Some people are stuck in the past with the same old school mentality that doesn't apply anymore, some people can/won't adapt to the present.Quote: SOOPOOQuote: darkoz
Those are advertisements with actors I would assume?
And saying one is ‘less irritating’ than others is not the same as saying ‘you should smoke them’!
So can you show me evidence of a real doctor organization ever supporting cigarette use? Still waiting...
Quote: SOOPOOQuote: darkoz
Those are advertisements with actors I would assume?
And saying one is ‘less irritating’ than others is not the same as saying ‘you should smoke them’!
So can you show me evidence of a real doctor organization ever supporting cigarette use? Still waiting...
Those are actual physicians giving their opinions on cigarettes.
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC1470496/
The gist of the government link above is that physicians themselves were huge cigarette smokers and apparently many gave their seal of approval on cigarettes not being harmful in return for free cigarette cartons.
Physicians are human and just like anyone else are subject to graft and corruption.
Regardless, the American public saw actual physicians giving their blessings to cigarettes and we're seriously misled
Quote: rxwineLaw enforcement thought they were raiding a cannabis farm with the amount of electricity being stolen. Little did they know...
https://www.bbc.co.uk/news/uk-england-birmingham-57280115
Quote: billryanDown another 10%.
It's down from yesterday but up from May 23rd.
I can probably point to just about anything that has a fluctuating price, compare it to a given time frame and make a statement about losses.
I'm sure there are some, but they will be few and far between.
Quote: billryanFind me an asset that dropped from a market value of over a billion dollars to under 600 million in three weeks.
I'm sure there are some, but they will be few and far between.
Find me an asset that appreciated from a market value of $1 a decade ago to $64,000 a decade later.
I'm sure there are some, but they will be few and far between.
EDIT: Or even from $1 to $35,000 in a decade
Quote: darkozFind me an asset that appreciated in value from $1 a decade ago to $64,000.
I'm sure there are some, but the will be few and far between.
Imitation is a sincere sign of flattery,
Quote: darkozFind me an asset that appreciated from a market value of $1 a decade ago to $64,000 a decade later.
Either scenario is not good, in fact it's very bad. Ever hear the slogan 'easy come easy go'. What goes up quickly out of all proportion to reason usually comes down just as quickly. No matter how much you want to avoid it Bitcoin always has been and always will be a scheme.
Quote: EvenBobNo matter how much you want to avoid it Bitcoin always has been and always will be a scheme.
We are living in a scheme no matter how much we want to avoid it. Unfortunately the only way of opting out comes with no future.
Quote: EvenBobEither scenario is not good, in fact it's very bad. Ever hear the slogan 'easy come easy go'. What goes up quickly out of all proportion to reason usually comes down just as quickly. No matter how much you want to avoid it Bitcoin always has been and always will be a scheme.
Pretty much like the stock market.
And yes the stock market has crashed in the past
Quote: darkozPretty much like the stock market.
Not at all like the stock market, I can't believe you said that. The stock market is based on the value of real brick and mortar for the most part companies that have actual value. Bitcoin is based on a collectible that, like Beanie Babies, only has value because a few people agree that it does.
Just read something that said BTC was going to 500k, that's Sounds absurd...I know, but I'm sure you thought it sounded absurd when people were predicting 50k, I certainly didn't think it would ever get that high. while you were claiming it was the next Beanie Baby, contrary to your beliefs and knowledge people were loading up and getting rich.Quote: EvenBobJust saw a report that said Bitcoin will never be a widespread legitimate currency because every bit of it can be manipulated almost on a daily basis by the super rich. As happened with Elon Musk.
whatever you read about BTC's future is probably meaningless since everyone is just guessing.
Bitcoin doesn't need to become a legit currency used for daily widespread transactions to succeed.
I'm not sure what the offshore online casino market is worth per year, and it's meaningless to the success of BTC, but it seems to be booming, and most of them accept BTC.
keep sitting there and armchair quarterbacking, eventually you will be correct about something.
Instead of sitting around telling everyone how bad BTC is... here you go...(Bill you can short it as well)
5 Ways to Short Bitcoin
https://www.investopedia.com/news/short-bitcoin/
P.S. had you been using bitcoin on Bovada with your "winning roulette method" like I advised you would be rolling in it by now.
How do you think bitcoin can succeed without becoming a legit entity used for daily widespread transactions?
At a point in the very near future, bitcoin will be fully harvested with no more being made. If it isn't able to capture a large portion of paypals business and other pay services, how will it succeed? You've been invested for a good while. What makes you confident it will recoup the losses of the last month or so?
Quote: EvenBobNot at all like the stock market, I can't believe you said that. The stock market is based on the value of real brick and mortar for the most part companies that have actual value. Bitcoin is based on a collectible that, like Beanie Babies, only has value because a few people agree that it does.
Lol, if you gave me a dollar for every brick and mortar company that ever went belly up throughout history I would have more than the current price of a Bitcoin.
Apparently EB you would prefer to own 100 shares of Blockbuster video than a single Bitcoin.
It's obvious how well you would fare
I am not confident either way, I have no clue what the future of BTC is. I ask people to tell me why they think it's going to go up given the recent backpedaling from Musk and the china regulations, and why people think it's going to down.Quote: billryanI don't short things. I stay in my lane and invest in things I know and that are known commodities.
How do you think bitcoin can succeed without becoming a legit entity used for daily widespread transactions?
At a point in the very near future, bitcoin will be fully harvested with no more being made. If it isn't able to capture a large portion of paypals business and other pay services, how will it succeed? You've been invested for a good while. What makes you confident it will recoup the losses of the last month or so?
Last I heard eBay(who owns Paypal) is pushing to accept bitcoin and the NFT'S. If they find a way to integrate it with Paypal then perhaps that will change your mind?
Years ago, this was when there was only a hand full of places that would take BTC, I meet a guy at the Tropicana. He was asking for VP advice on hands. It turns out he worked for Paypal in management for the fraud and security department, or whatever you call it. I asked him about Bitcoin being accepted on eBay. He said BTC will never be accepted there because it would be a fraud nightmare for them. I can't say for sure, but that comment may have delayed me from buying BTC. I can almost guarantee you, had he been optimistic about eBay taking BTC, I would have been eager to buy some.
Back in 1997 had you told me AOL(The king of online) would be all but dead now, and that Amazon(a company selling books online) would be a behemoth today, I would have thought you were a nutjob. I did buy AOL and I avoided buying Amazon.Quote: darkozLol, if you gave me a dollar for every brick and mortar company that ever went belly up throughout history I would have more than the current price of a Bitcoin.
Apparently EB you would prefer to own 100 shares of Blockbuster video than a single Bitcoin.
It's obvious how well you would fare
Quote: AxelWolfI am not confident either way, I have no clue what the future of BTC is. I ask people to tell me why they think it's going to go up given the recent backpedaling from Musk and the china regulations, and why people think it's going to down.
Last I heard eBay(who owns Paypal) is pushing to accept bitcoin and the NFT'S. If they find a way to integrate it with Paypal then perhaps that will change your mind?
Years ago, this was when there was only a hand full of places that would take BTC, I meet a guy at the Tropicana. He was asking for VP advice on hands. It turns out he worked for Paypal in management for the fraud and security department, or whatever you call it. I asked him about Bitcoin being accepted on eBay. He said BTC will never be accepted there because it would be a fraud nightmare for them. I can't say for sure, but that comment may have delayed me from buying BTC. I can almost guarantee you, had he been optimistic about eBay taking BTC, I would have been eager to buy some.
You can already use crypto to purchase anywhere visa is accepted
https://www.investopedia.com/best-bitcoin-debit-cards-5114761
As for brick and mortar companies, Visa isn't a brick and mortar service aside from they have offices somewhere. It's guess what? A service to help people make purchases
It has as much physicality you can hold in your hand status as Bitcoin especially now they have Crypto currency Debit cards.
Quote: darkoz
As for brick and mortar companies, Visa isn't a brick and mortar service aside from they have offices somewhere.
Do you invent this crap as you go along? Visa Inc is a financial corporation headquartered in California. It processes electronic funds transfers and is very much a brick and mortar company that employs over 20,000 people. How do you process fund transfers if you don't have brick and mortar buildings for the computer equipment. They process over 100 billion transactions a year.
Comparing Bitcoin to Visa is ridiculous. Bitcoin has no organization, it has no headquarters, it has no board of directors, it's a nothing burger known as a 'speculative bubble'. It has no organization controlling it therefore it can be controlled by anybody with enough money to do so.
(an economic bubble or asset bubble (sometimes also referred to as a speculative bubble, a market bubble, a price bubble, a financial bubble, a speculative mania, or a balloon) is a situation in which asset prices appear to be based on implausible or inconsistent views about the future.)
Quote: EvenBobHow do you process fund transfers if you don't have brick and mortar buildings for the computer equipment.
You actually don't understand that Bitcoin uses computer equipment located in brick and mortar facilities called Mining Farms to process fund transfers?
And since you are so hung up on Visa, they now accept Crypto currency.
https://www.google.com/amp/s/www.cnbc.com/amp/2021/03/29/visa-moves-to-allow-payment-settlements-using-cryptocurrency.html
Quote: AxelWolfI am not confident either way, I have no clue what the future of BTC is. I ask people to tell me why they think it's going to go up given the recent backpedaling from Musk and the china regulations, and why people think it's going to down.
Last I heard eBay(who owns Paypal) is pushing to accept bitcoin and the NFT'S. If they find a way to integrate it with Paypal then perhaps that will change your mind?
Years ago, this was when there was only a hand full of places that would take BTC, I meet a guy at the Tropicana. He was asking for VP advice on hands. It turns out he worked for Paypal in management for the fraud and security department, or whatever you call it. I asked him about Bitcoin being accepted on eBay. He said BTC will never be accepted there because it would be a fraud nightmare for them. I can't say for sure, but that comment may have delayed me from buying BTC. I can almost guarantee you, had he been optimistic about eBay taking BTC, I would have been eager to buy some.
eBay no long owns Paypal. They spun it off a separate business years ago and recently made a change so paypal is not the main payment agent.
As I said, I'm not anti- bitcoin. I just don't see it as a good investment. I also think a lot of Americans will sour on it when the IRS and states start demanding their share. People who bought for a few dollars and get out at $30,000 are going to start getting some hefty tax bills
Sadly, the main supporters of bitcoin keep misrepresenting it, but it apparently is more out of ignorance than intentional misleading.
Quote: billryanPeople who bought for a few dollars and get out at $30,000 are going to start getting some hefty tax bills
.
I don't understand why this is an issue? Wouldn't anything that made someone profit be taxable?
I would prefer to make $30,000 sitting on my arse for a few years and then owe proper taxes than sitting on my arse making nothing because I didn't invest.
Quote: AxelWolf
keep sitting there and armchair quarterbacking, eventually you will be correct about something.
EB and people like him either don't see or refuse to acknowledge that the internet has changed things forever
the usual stuff doesn't apply anymore
with no internet the Crypto thing would have collapsed quickly
with the internet Crypto has become gigantic - and I doubt that will change anytime soon
*
Quote: darkozYou actually don't understand that Bitcoin uses computer equipment located in brick and mortar
What is Bitcoins brick-and-mortar address again, I seem to have forgotten. That's right, they don't have one. I do have the address for the US Treasury however..
Quote: lilredrooster
with the internet Crypto has become gigantic -
You have no idea how big Beanie Babies were at one time, people thought they would be here forever.
Quote: EvenBobWhat is Bitcoins brick-and-mortar address again, I seem to have forgotten. That's right, they don't have one. I do have the address for the US Treasury however..
Okay you win.
Here is the main address to Fries Electronics with several Brick and Mortar stores open you can invest in
550 East Brokaw Road San Jose, CA 95112 USA
Good luck!
If it wasn't obvious that DO had little to no understanding of the situation before, this comparison alone ended the need for future exchanges.
Quote: billryanThe whole discussion jumped the shark when DO sought to compare bitcoin to Visa.
If it wasn't obvious that DO had little to no understanding of the situation before, this comparison alone ended the need for future exchanges.
Then goodbye!
EDIT:. Discussion really should have ended when EB compared Bitcoin to Beanie Babies ten years ago and the price of these so-called beanie babies went up from $1 to $34,000
