BitCoin

Quote: rxwine

People do eat gold flakes on food. For purposes of ostentatiousness, I guess.

Quote:

Of all the minerals mined from the Earth, none is more useful than gold. Its usefulness is derived from a diversity of special properties. Gold conducts electricity, does not tarnish, is very easy to work, can be drawn into wire, can be hammered into thin sheets, alloys with many other metals, can be melted and cast into highly detailed shapes, has a wonderful color and a brilliant luster. Gold is a memorable metal that occupies a special place in the human mind.

https://geology.com/minerals/gold/uses-of-gold.shtml
link to original post

The whole can you eat gold schickt got old for most people around junior high, as I recall.

Quote: billryan

Quote: AxelWolf

Quote: billryan

Quote: AxelWolf

Quote: rxwine

Quote: AxelWolf

Quote: DRich

Quote: rxwine

Bitcoin itself seems more like a wager than an investment.

^^^This^^^
link to original post

Aren't most investments a gamble/wager? Some are far less risky than others but less risk oftentimes equals less potential reward.

As far as I'm concerned, unless you can show me the +EV math, all investments are just gambling. Since no one can predict the future, even things that have past data showing decades of positive returns can suddenly crash.
link to original post

I'll asses the risk if I can ever find a cost for personal crypto insurance from long term well-established insurance companies. Every time I look up cost I get some price for a business. Not even sure if any of that is still accurate with recent failures. Or how much of assets it covers. What does it cost for 10k of crypto or 100k of crypto for theft in a personal account.
link to original post

The #1 form of insuring your BTC.... Don't keep it on an exchange, the exchanges are the problem, not Bitcoin. When done correctly, it would be extremely hard for anyone to get your BTC.

I actually think there are a few exchanges like Coincover that do various insurance. Coinbase has some insurance if the site is hacked, but not if your personal account is hacked. I don't know enough about all that. Obviously, insured crypto isn't the norm. The entire point of BTC is the antithesis of government and big institution interference/involvement.

If we are to believe Satoshi Nakamoto was the person behind BTC, it wasn't some attempt at a Ponzi scheme or about getting rich, It was simply a way to create an internet currency. "Simply put, he created it to take financial control back from financial elites, giving ordinary people a chance to take part in a decentralized financial system." https://cointelegraph.com/bitcoin-for-beginners/who-is-satoshi-nakamoto-the-creator-of-bitcoin

I highly doubt he or anyone initially thought it would grow into something this big.
link to original post

You do realize Satoshi Nakamoto doesn't exist, right? That's like saying Kizer Soze ate my homework.
link to original post

I did say, "If we are to believe" Id assume that's not his real name just like AxelWolf isn't my real name.

I haven't a clue what the real story is, I doubt anyone but a few people actually do and I'm sure they would all tell a different story. Whatever the case, they created something successful that works mostly as it should.
link to original post

Works mostly as it should? If it was working as it was designed, you'd be spending multiple bitcoin on a pizza., not losing $40,000 on one if you bought at the peak. It's not supposed to have peaks and valleys.
Outside of banks and a few hi-worth individuals, you don't " invest" in a currency. You invest in stocks,or in commodities, or some invest in collectibles. No one gives their niece a $100 bill and says put it away and someday you'll be able to buy a car with it. Bitcoin was designed to ease transactions, not as a tool for speculators. It's broken and I don't see it getting fixed.
Bitcoin was meant to be a means to facilitate transactions, not to build wealth, or if you've been a buyer these past two years, to lose wealth.
link to original post

I thought it wasn't a currency and never would be?

It works just fine as a way to exchange value peer to peer. You're comparing it to the government currency you know so well. It wasn't meant to be like a government currency, it wasn't meant to be used for an investment.

Quote: AxelWolf

Quote: billryan

Quote: AxelWolf

Quote: billryan

Quote: AxelWolf

Quote: rxwine

Quote: AxelWolf

Quote: DRich

Quote: rxwine

Bitcoin itself seems more like a wager than an investment.

^^^This^^^
link to original post

Aren't most investments a gamble/wager? Some are far less risky than others but less risk oftentimes equals less potential reward.

As far as I'm concerned, unless you can show me the +EV math, all investments are just gambling. Since no one can predict the future, even things that have past data showing decades of positive returns can suddenly crash.
link to original post

I'll asses the risk if I can ever find a cost for personal crypto insurance from long term well-established insurance companies. Every time I look up cost I get some price for a business. Not even sure if any of that is still accurate with recent failures. Or how much of assets it covers. What does it cost for 10k of crypto or 100k of crypto for theft in a personal account.
link to original post

The #1 form of insuring your BTC.... Don't keep it on an exchange, the exchanges are the problem, not Bitcoin. When done correctly, it would be extremely hard for anyone to get your BTC.

I actually think there are a few exchanges like Coincover that do various insurance. Coinbase has some insurance if the site is hacked, but not if your personal account is hacked. I don't know enough about all that. Obviously, insured crypto isn't the norm. The entire point of BTC is the antithesis of government and big institution interference/involvement.

If we are to believe Satoshi Nakamoto was the person behind BTC, it wasn't some attempt at a Ponzi scheme or about getting rich, It was simply a way to create an internet currency. "Simply put, he created it to take financial control back from financial elites, giving ordinary people a chance to take part in a decentralized financial system." https://cointelegraph.com/bitcoin-for-beginners/who-is-satoshi-nakamoto-the-creator-of-bitcoin

I highly doubt he or anyone initially thought it would grow into something this big.
link to original post

You do realize Satoshi Nakamoto doesn't exist, right? That's like saying Kizer Soze ate my homework.
link to original post

I did say, "If we are to believe" Id assume that's not his real name just like AxelWolf isn't my real name.

I haven't a clue what the real story is, I doubt anyone but a few people actually do and I'm sure they would all tell a different story. Whatever the case, they created something successful that works mostly as it should.
link to original post

Works mostly as it should? If it was working as it was designed, you'd be spending multiple bitcoin on a pizza., not losing $40,000 on one if you bought at the peak. It's not supposed to have peaks and valleys.
Outside of banks and a few hi-worth individuals, you don't " invest" in a currency. You invest in stocks,or in commodities, or some invest in collectibles. No one gives their niece a $100 bill and says put it away and someday you'll be able to buy a car with it. Bitcoin was designed to ease transactions, not as a tool for speculators. It's broken and I don't see it getting fixed.
Bitcoin was meant to be a means to facilitate transactions, not to build wealth, or if you've been a buyer these past two years, to lose wealth.
link to original post

I thought it wasn't a currency and never would be?

It works just fine as a way to exchange value peer to peer. You're comparing it to the government currency you know so well. It wasn't meant to be like a government currency, it wasn't meant to be used for an investment.
link to original post

You do realize you just made my entire point. It wasn't meant to be an investment. Thank you.

Quote: billryan

If you are stuck on a desert island with no food or water and no hope of rescue, what does it matter what else you have?
Simple solutions for simple minds. Sometimes it is hard to have an adult conversation when people keep injecting whataboutisms into it.
Someone could ask me if I'd rather have a bitcoin than covid, and some here would twist my answer into support for bitcoin.
link to original post

You could try and read the question.

But you inadvertently answered it.

If you had no food and water you would wish for the food and water not the gold.

Because there isn't any intrinsic value in gold.

Quote: darkoz

Quote: billryan

We have one guy who thinks 99.5% of cryptocurrencies will fail, but also that the one he bought into will go to $250,000 shortly, and another who compares bitcoins all in value to that of the dollars.
Who said comedy was dead?
link to original post

The comedy is that if you kept one dollar from 2009 in your draw and kept one Bitcoin which you purchased in 2009 for a dollar....

Today that dollar in your draw would buy you about fifty cents worth of the same product in purchases

While that one dollars worth of Bitcoin would buy you $16,000 worth of products

And you argue that the dollar was the better investment. That's comedic.
link to original post

The best investment is not always the investment that works.

Also, this is like playing Monday Morning Quarterback, except you're praising coaching decisions made in a game that was originally played thirteen years ago. Not only is the game extremely dated, but in the case of Bitcoin, it's not even the same game anymore.

Also, "Better investment," is subjective. What do you want your risk/reward ratio to look like? What do you project your maximum upside to be? More importantly, what do you project your maximum downside to be? If something is clearly failing, will you be able to tear yourself away from the investment, essentially, to admit failure and minimize your losses when it becomes sensible to do so?

These are all considerations. Furthermore, I'd be highly surprised if those who came into BTC circa 2009 wouldn't be shocked if you could go back in time and tell them where the price per BTC would be today...and that's even ignoring telling them where the price was at its highest

So, you look at it. BTC can absolutely bubble and crash; it's similarly evident by the fact that it has already happened. There are, 'Competing,' cryptos out there, one of which might eventually really take off in comparison to BTC. It's possible, though perhaps unlikely, that another crypto will surpass BTC one day. The fact that BTC exploded shows that BTC is capable of exploding, so other cryptos have the potential to pop.

From reading your posts, it seems that you want to hit Grand Slams and your investment attitude reflects that. It also seems that the amount of money you will risk to hit these home runs is negligible compared to the amount of cash you have on hand...again, based on my interpretation of what you have said.

With that, steady gains aren't really going to cause your jeans to tighten too much, but the prospect of knocking it out of the park appeals to you. That's fine. The money that you are investing, percentage-wise, sounds like only a Grand Slam is going to make any difference to you and taking a total loss (on investment) wouldn't really hurt you that much, if at all.

So, while it's not a good investing attitude, it's fine if that's not where a high percentage of your money is. Even people who are excellent at investing devote a small part of their investment portfolio to taking big shots, so it's fine, the long shot comes in sometimes.

What's important is that, while I don't consider your attitude great, it really doesn't matter because, with the amount you put into it relative to your worth, it's not a dangerous attitude for you to have. You can have your fun; you're just not a great choice, no offense, to advise other people...and neither am I, let's be very clear. My investment strategies are ridiculously conservative, unless the market has had a recent near-collapse, which is when I think of myself as pretty good at identifying value and what sectors/companies will make the strongest and fastest recoveries to...I look for half of previous high...who would have guessed that casinos would hit all-time highs!!!??? Certainly not me. I'd have sold everything way too early, I'd be out as soon as I'd tripled up on the casino stocks.

Quote: rxwine

People do eat gold flakes on food. For purposes of ostentatiousness, I guess.

Quote:

Of all the minerals mined from the Earth, none is more useful than gold. Its usefulness is derived from a diversity of special properties. Gold conducts electricity, does not tarnish, is very easy to work, can be drawn into wire, can be hammered into thin sheets, alloys with many other metals, can be melted and cast into highly detailed shapes, has a wonderful color and a brilliant luster. Gold is a memorable metal that occupies a special place in the human mind.

https://geology.com/minerals/gold/uses-of-gold.shtml
link to original post

Lol what value?

Maybe it conducts electricity. And yet I don't see anybody using gold wiring.

As for everything else? It can be hammered into thin sheets? Great thin sheets of gold. You do what with that?

Melted and cast into highly detailed shapes? Jewelry which again has no intrinsic value except to be collected.

"Gold... occupies a special place in the human mind."

If there was a ever a perfect definition for what is a collectible it's that.

Quote: billryan

Quote: AxelWolf

Quote: billryan

Quote: AxelWolf

Quote: billryan

Quote: AxelWolf

Quote: rxwine

Quote: AxelWolf

Quote: DRich

Quote: rxwine

Bitcoin itself seems more like a wager than an investment.

^^^This^^^
link to original post

Aren't most investments a gamble/wager? Some are far less risky than others but less risk oftentimes equals less potential reward.

As far as I'm concerned, unless you can show me the +EV math, all investments are just gambling. Since no one can predict the future, even things that have past data showing decades of positive returns can suddenly crash.
link to original post

I'll asses the risk if I can ever find a cost for personal crypto insurance from long term well-established insurance companies. Every time I look up cost I get some price for a business. Not even sure if any of that is still accurate with recent failures. Or how much of assets it covers. What does it cost for 10k of crypto or 100k of crypto for theft in a personal account.
link to original post

The #1 form of insuring your BTC.... Don't keep it on an exchange, the exchanges are the problem, not Bitcoin. When done correctly, it would be extremely hard for anyone to get your BTC.

I actually think there are a few exchanges like Coincover that do various insurance. Coinbase has some insurance if the site is hacked, but not if your personal account is hacked. I don't know enough about all that. Obviously, insured crypto isn't the norm. The entire point of BTC is the antithesis of government and big institution interference/involvement.

If we are to believe Satoshi Nakamoto was the person behind BTC, it wasn't some attempt at a Ponzi scheme or about getting rich, It was simply a way to create an internet currency. "Simply put, he created it to take financial control back from financial elites, giving ordinary people a chance to take part in a decentralized financial system." https://cointelegraph.com/bitcoin-for-beginners/who-is-satoshi-nakamoto-the-creator-of-bitcoin

I highly doubt he or anyone initially thought it would grow into something this big.
link to original post

You do realize Satoshi Nakamoto doesn't exist, right? That's like saying Kizer Soze ate my homework.
link to original post

I did say, "If we are to believe" Id assume that's not his real name just like AxelWolf isn't my real name.

I haven't a clue what the real story is, I doubt anyone but a few people actually do and I'm sure they would all tell a different story. Whatever the case, they created something successful that works mostly as it should.
link to original post

Works mostly as it should? If it was working as it was designed, you'd be spending multiple bitcoin on a pizza., not losing $40,000 on one if you bought at the peak. It's not supposed to have peaks and valleys.
Outside of banks and a few hi-worth individuals, you don't " invest" in a currency. You invest in stocks,or in commodities, or some invest in collectibles. No one gives their niece a $100 bill and says put it away and someday you'll be able to buy a car with it. Bitcoin was designed to ease transactions, not as a tool for speculators. It's broken and I don't see it getting fixed.
Bitcoin was meant to be a means to facilitate transactions, not to build wealth, or if you've been a buyer these past two years, to lose wealth.
link to original post

I thought it wasn't a currency and never would be?

It works just fine as a way to exchange value peer to peer. You're comparing it to the government currency you know so well. It wasn't meant to be like a government currency, it wasn't meant to be used for an investment.
link to original post

You do realize you just made my entire point. It wasn't meant to be an investment. Thank you.
link to original post

But that doesn't make it a tulip bulb or a beanie baby. It doesn't make it a good or bad investment. Were houses and property divisions originally made for investments, what about Art, Comic books, and baseball cards? I think not, but people certainly invest in those things.

Quote: Mission146

Quote: darkoz

Quote: billryan

We have one guy who thinks 99.5% of cryptocurrencies will fail, but also that the one he bought into will go to $250,000 shortly, and another who compares bitcoins all in value to that of the dollars.
Who said comedy was dead?
link to original post

The comedy is that if you kept one dollar from 2009 in your draw and kept one Bitcoin which you purchased in 2009 for a dollar....

Today that dollar in your draw would buy you about fifty cents worth of the same product in purchases

While that one dollars worth of Bitcoin would buy you $16,000 worth of products

And you argue that the dollar was the better investment. That's comedic.
link to original post

The best investment is not always the investment that works.

Also, this is like playing Monday Morning Quarterback, except you're praising coaching decisions made in a game that was originally played thirteen years ago. Not only is the game extremely dated, but in the case of Bitcoin, it's not even the same game anymore.

Also, "Better investment," is subjective. What do you want your risk/reward ratio to look like? What do you project your maximum upside to be? More importantly, what do you project your maximum downside to be? If something is clearly failing, will you be able to tear yourself away from the investment, essentially, to admit failure and minimize your losses when it becomes sensible to do so?

These are all considerations. Furthermore, I'd be highly surprised if those who came into BTC circa 2009 wouldn't be shocked if you could go back in time and tell them where the price per BTC would be today...and that's even ignoring telling them where the price was at its highest

So, you look at it. BTC can absolutely bubble and crash; it's similarly evident by the fact that it has already happened. There are, 'Competing,' cryptos out there, one of which might eventually really take off in comparison to BTC. It's possible, though perhaps unlikely, that another crypto will surpass BTC one day. The fact that BTC exploded shows that BTC is capable of exploding, so other cryptos have the potential to pop.

From reading your posts, it seems that you want to hit Grand Slams and your investment attitude reflects that. It also seems that the amount of money you will risk to hit these home runs is negligible compared to the amount of cash you have on hand...again, based on my interpretation of what you have said.

With that, steady gains aren't really going to cause your jeans to tighten too much, but the prospect of knocking it out of the park appeals to you. That's fine. The money that you are investing, percentage-wise, sounds like only a Grand Slam is going to make any difference to you and taking a total loss (on investment) wouldn't really hurt you that much, if at all.

So, while it's not a good investing attitude, it's fine if that's not where a high percentage of your money is. Even people who are excellent at investing devote a small part of their investment portfolio to taking big shots, so it's fine, the long shot comes in sometimes.

What's important is that, while I don't consider your attitude great, it really doesn't matter because, with the amount you put into it relative to your worth, it's not a dangerous attitude for you to have. You can have your fun; you're just not a great choice, no offense, to advise other people...and neither am I, let's be very clear. My investment strategies are ridiculously conservative, unless the market has had a recent near-collapse, which is when I think of myself as pretty good at identifying value and what sectors/companies will make the strongest and fastest recoveries to...I look for half of previous high...who would have guessed that casinos would hit all-time highs!!!??? Certainly not me. I'd have sold everything way too early, I'd be out as soon as I'd tripled up on the casino stocks.
link to original post

Most everything you said I agree with.

Except about giving investment advice. I actually never did.

I was quite surprised when people purchased Cytodyn. I wasn't pitching as an investment. I was simply reporting my own venture into it because I believed it would be the winner in the Covid race. There were probably 200 drugs being worked on if not more and only a handful made it to market.

But I was more interested in reporting about what I was up to than convincing people to invest. I really don't care what people invest in. It has no effect on my pocket one way or another.

I have since invested in a few other things but won't mention what because I don't want people following my lead for good or bad.

Quote: darkoz

Quote: billryan

If you are stuck on a desert island with no food or water and no hope of rescue, what does it matter what else you have?
Simple solutions for simple minds. Sometimes it is hard to have an adult conversation when people keep injecting whataboutisms into it.
Someone could ask me if I'd rather have a bitcoin than covid, and some here would twist my answer into support for bitcoin.
link to original post

You could try and read the question.

But you inadvertently answered it.

If you had no food and water you would wish for the food and water not the gold.

Because there isn't any intrinsic value in gold.
link to original post

You're neither right nor wrong.

Gold has a greater value than BTC because, as has been mentioned, gold has uses over and above just being a stand in for currency.

Your hypothetical scenario assumes that there is never a demand for gold, but there's often a demand for gold. Historically, it has been seen as a go-to, "Safe," investment when the broader market is not doing well. Check out this historical chart:

https://www.macrotrends.net/1333/historical-gold-prices-100-year-chart#:~:text=The%20series%20is%20deflated%20using,2022%20is%20%241%2C754.55%20per%20ounce.

Generally, when the market goes completely to crap, or there is a high degree of uncertainty, gold pops. When the market begins to recover, people are mostly willing to take more risks, so will move money from gold into other investments. When it comes to gold, unless you're holding for the very long-term, most people just try to time these events, or if the market stays down, gold demand continues to increase.

As far as 1980-1981, read on your own at your own peril; I don't feel like quintupling the length of this post, and that's if I show an uncharacteristic amount of brevity.

If you think you can time significant market events, then you're getting gold basically at a discount. Even then, relative to the all-time adjusted (consumer price index adjusted) high, gold has still held up better than BTC relative to all-time high, and that's over the span of over a century. The fact that the price is adjusted is also relevant because, if you click the box to turn, "Inflation adjusted," off, then you will see that the gold price today is higher than it was at its (adjusted) peak; it just hasn't kept up with inflation relative to its value at its highest point ever.

That's what makes gold relatively safe. Taking inflation out of the equation, you can just buy and hold and it'll get back to where it was sooner or later...especially if you're young enough...you can just wait for an inevitable short-term market crash and watch gold pop.

Another thing is that perception is reality. If the fact that many countries, United States included, still keep substantial gold reserves doesn't factor into your calculus as to gold's absolute value, then that's your perspective, but most people will see that as the leaders of the world saying, "Hey, this shizz is worth something, dawg." I imagine some Governments have a position in BTC, haven't looked much into it, but it's almost definitely minor compared to their gold position.

Anyway, if you're going to stipulate that only those things that are on the bottom tier of Maslow's Hierarchy of Needs have, "Intrinsic Value," then you're free to take that position, but it would sure seem to defeat the purpose of having a technologically advanced society.

And...even if gold's value is entirely perceived (I stipulate that it's largely perceived pursuant to your reasoning) the fact that more people perceive gold as safe and to have some kind of fundamental value is relevant.

Why is it relevant? Because it means that you perceive gold as a confidence game, but if that's true, then so is BTC (which I do believe) and people are willing to show more confidence in gold, it would seem, which matters when it comes to downside risk.

Quote: darkoz

Most everything you said I agree with.

Except about giving investment advice. I actually never did.

I was quite surprised when people purchased Cytodyn. I wasn't pitching as an investment. I was simply reporting my own venture into it because I believed it would be the winner in the Covid race. There were probably 200 drugs being worked on if not more and only a handful made it to market.

But I was more interested in reporting about what I was up to than convincing people to invest. I really don't care what people invest in. It has no effect on my pocket one way or another.

I have since invested in a few other things but won't mention what because I don't want people following my lead for good or bad.
link to original post

I see no reason for you not to discuss it.

I would suggest just throwing up a quick disclaimer that the post is not meant to be taken as investment advice and also to clearly declare the position you have in the thing being discussed, if any. I could be discussing the safest investment strategies in the whole world and would make sure to clearly indicate not to take it as advice...even then, that's probably only necessary when you're taking a position.

Quote: Mission146

Quote: darkoz

Quote: billryan

If you are stuck on a desert island with no food or water and no hope of rescue, what does it matter what else you have?
Simple solutions for simple minds. Sometimes it is hard to have an adult conversation when people keep injecting whataboutisms into it.
Someone could ask me if I'd rather have a bitcoin than covid, and some here would twist my answer into support for bitcoin.
link to original post

You could try and read the question.

But you inadvertently answered it.

If you had no food and water you would wish for the food and water not the gold.

Because there isn't any intrinsic value in gold.
link to original post

You're neither right nor wrong.

Gold has a greater value than BTC because, as has been mentioned, gold has uses over and above just being a stand in for currency.

Your hypothetical scenario assumes that there is never a demand for gold, but there's often a demand for gold. Historically, it has been seen as a go-to, "Safe," investment when the broader market is not doing well. Check out this historical chart:

https://www.macrotrends.net/1333/historical-gold-prices-100-year-chart#:~:text=The%20series%20is%20deflated%20using,2022%20is%20%241%2C754.55%20per%20ounce.

Generally, when the market goes completely to crap, or there is a high degree of uncertainty, gold pops. When the market begins to recover, people are mostly willing to take more risks, so will move money from gold into other investments. When it comes to gold, unless you're holding for the very long-term, most people just try to time these events, or if the market stays down, gold demand continues to increase.

As far as 1980-1981, read on your own at your own peril; I don't feel like quintupling the length of this post, and that's if I show an uncharacteristic amount of brevity.

If you think you can time significant market events, then you're getting gold basically at a discount. Even then, relative to the all-time adjusted (consumer price index adjusted) high, gold has still held up better than BTC relative to all-time high, and that's over the span of over a century. The fact that the price is adjusted is also relevant because, if you click the box to turn, "Inflation adjusted," off, then you will see that the gold price today is higher than it was at its peak; it just hasn't kept up with inflation relative to its value at its highest point ever.

That's what makes gold relatively safe. Taking inflation out of the equation, you can just buy and hold and it'll get back to where it was sooner or later...especially if you're young enough...you can just wait for an inevitable short-term market crash and watch gold pop.

Another thing is that perception is reality. If the fact that many countries, United States included, still keep substantial gold reserves doesn't factor into your calculus as to gold's absolute value, then that's your perspective, but most people will see that as the leader's of the world saying, "Hey, this shizz is worth something, dawg." I imagine some Governments have a position in BTC, haven't looked much into it, but it's almost definitely minor compared to their gold position.

Anyway, if you're going to stipulate that only those things that are on the bottom tier of Maslow's Hierarchy of Needs have, "Intrinsic Value," then you're free to take that position, but it would sure seem to defeat the purpose of having a technologically advanced society.

And...even if gold's value is entirely perceived (I stipulate that it's largely perceived pursuant to your reasoning) the fact that more people perceive gold as safe and to have some kind of fundamental value is relevant.

Why is it relevant? Because it means that you perceive gold as a confidence game, but if that's true, then so is BTC (which I do believe) and people are willing to show more confidence in gold, it would seem, which matters when it comes to downside risk.
link to original post

I think we are on the same wavelength.

I was responding to EB saying Gold has an intrinsic value.

You and I both agree it has a perceived value.

I'm not arguing it's perceived value. Only that it definitely doesn't have an intrinsic value.

Quote: EvenBob

Look at gold. If you've been following gold for the last 20 years you know there have been some tremendous ups and downs and yet gold always comes back. The reason it always comes back is because it does not depend one bit on public sentiment and public support for its price. Whereas Bitcoin depends 100% on public sentiment and public support which is very fickle and once you lose it it's very hard to gain it back. And Bitcoin loses it little by little every week. Bitcoin totally depends on a never-ending line of suckers who are willing to invest in it. Gold depends on nothing because gold has intrinsic value. Bitcoin has no value other than what we give it by our willingness to get sucked into buying it.
link to original post

You gotta be kidding.

Gold is not an investment. Investments like companies, real estate and farms produce things and/or generate income. Their values are ultimately determined by the future income they can generate. Gold is a commodity; it produces nothing and most of it just sits in bank vaults

Gold always comes back? If you bought in 1980 for $1000 (about $4000 in today's dollars) you’re holding a huge multi-decade loss. And you have no dividends or profits to defray the real capital loss since gold doesn’t produce anything

Gold’s “value” is simply what the next sucker will pay for it. Though I’ll admit I’d buy gold before I’d buy bitcoin. As an ancient store of value (literally a hard currency) gold will probably always be worth something. Impossible to forecast what that something value will be

Quote: darkoz

I think we are on the same wavelength.

I was responding to EB saying Gold has an intrinsic value.

You and I both agree it has a perceived value.

I'm not arguing it's perceived value. Only that it definitely doesn't have an intrinsic value.
link to original post

The best way to clarify my position is to say that the perceived value of gold, historical price movement and perception that gold is safe in a downturn is so strong that it's just as good as gold having an actual intrinsic value.

Quote: darkoz

Quote: rxwine

People do eat gold flakes on food. For purposes of ostentatiousness, I guess.

Quote:

Of all the minerals mined from the Earth, none is more useful than gold. Its usefulness is derived from a diversity of special properties. Gold conducts electricity, does not tarnish, is very easy to work, can be drawn into wire, can be hammered into thin sheets, alloys with many other metals, can be melted and cast into highly detailed shapes, has a wonderful color and a brilliant luster. Gold is a memorable metal that occupies a special place in the human mind.

https://geology.com/minerals/gold/uses-of-gold.shtml
link to original post

Lol what value?

Maybe it conducts electricity. And yet I don't see anybody using gold wiring.

As for everything else? It can be hammered into thin sheets? Great thin sheets of gold. You do what with that?

Melted and cast into highly detailed shapes? Jewelry which again has no intrinsic value except to be collected.

"Gold... occupies a special place in the human mind."

If there was a ever a perfect definition for what is a collectible it's that.
link to original post

Wow. I have to wonder how much of that is the usual do defend his positions to the point of exhaustion or if he really thinks like that.
What can one do with thin sheets of metal that conduct electricity? The first person who discovers a practical use for that will be rich.
Oh, wait.

Quote: billryan

Quote: darkoz

Quote: rxwine

People do eat gold flakes on food. For purposes of ostentatiousness, I guess.

Quote:

Of all the minerals mined from the Earth, none is more useful than gold. Its usefulness is derived from a diversity of special properties. Gold conducts electricity, does not tarnish, is very easy to work, can be drawn into wire, can be hammered into thin sheets, alloys with many other metals, can be melted and cast into highly detailed shapes, has a wonderful color and a brilliant luster. Gold is a memorable metal that occupies a special place in the human mind.

https://geology.com/minerals/gold/uses-of-gold.shtml
link to original post

Lol what value?

Maybe it conducts electricity. And yet I don't see anybody using gold wiring.

As for everything else? It can be hammered into thin sheets? Great thin sheets of gold. You do what with that?

Melted and cast into highly detailed shapes? Jewelry which again has no intrinsic value except to be collected.

"Gold... occupies a special place in the human mind."

If there was a ever a perfect definition for what is a collectible it's that.
link to original post

Wow. I have to wonder how much of that is the usual do defend his positions to the point of exhaustion or if he really thinks like that.
What can one do with thin sheets of metal that conduct electricity? The first person who discovers a practical use for that will be rich.
Oh, wait.
link to original post

Well computer chips conductors etc..etc..etc.. BillyR

https://www.waferworld.com/post/how-is-gold-used-in-computers

Quote: billryan

Wow. I have to wonder how much of that is the usual do defend his positions to the point of exhaustion or if he really thinks like that.
What can one do with thin sheets of metal that conduct electricity? The first person who discovers a practical use for that will be rich.
Oh, wait.
link to original post

I agree with this.

Just to be clear, I like to discuss my position in the light most favorable to the person to whom I am speaking. With that, when discussing gold, I was operating from Darkoz' implied position that nothing above the bottom tier of Maslow's Hierarchy can be said to have intrinsic value.

Gold does, indeed, have physical applications, but those are a step up in the hierarchy.

Okay I hadn't thought of its use in computer chips.

I will agree that's a very valuable use although perhaps moreso when it was a bigger component of computers.

I don't know if that's an intrinsic value since that value didn't exist prior to computers.

However I am willing to admit when I am wrong.

Unlike Bill Ryan who just ignores when he is wrong.

Still waiting on you to admit you didn't know what you were talking about when you asked someone to show you when Bitcoin has had any upward movement the Last two years, Bill.

How about being a man and not ignoring the post that showed you don't know what you are talking about.

I guess you didn't get it when I explained it, or understand it when Mission explained it so I doubt a third attempt would do much to change that. Investments shouldn't be measured by days or weeks, or even months.
Show me how to triple my money in three years and you have my attention. Tell me you have something that might be worth a fortune someday and I'll complement you on your sense of humor .
Anyone who bought bitcoin two years ago is below water, or at best treading it. Anyone who bought it in the last two years is almost certainly underwater.
Do you agree with that?

The point of investing is to plant seeds that grow into trees.
Tossing around a hot potato is a game for fools.
If some of the stories about Grayscale cause a run on their assets, it's not going to be pretty.
I just checked and my exposure to cryptocurrency is very low. One fund that is a minor holding owns up to 5% of its assets across the CC spectrum, but I'm worried about how many other investments are leveraged with CCs.

I'm still amazed that people agree that 99.% of cryptocurrencies will fail and everyone will lose their money, but still think they picked the one in 500 that will survive.

Quote: billryan

Anyone who bought it in the last two years is almost certainly underwater.
Do you agree with that?
link to original post

No I don't agree.

Exactly two years ago to this day Bitcoin was at $17,000+

During that two years period it climbed to $60,000.

To make a claim that anyone who purchased in the last two years is underwater with their Bitcoin investment is to make the ridiculous claim that in two years people purchased Bitcoin and no one sold.

Obviously someone who purchased at $17,000+ and sold at anything higher up to $60,000+ per coin isn't"underwater"

You always try to prove your fallacious points by Leaving out pertinent information. It's your MO and it's quite despicable.

Sure gold is of intrinsic value. Without it, the likely process how Earth formed would possibly be entirely different and we may not exist at all. You might not even be on that island.

: )

Quote: Ace2

Quote: EvenBob

Look at gold. If you've been following gold for the last 20 years you know there have been some tremendous ups and downs and yet gold always comes back. The reason it always comes back is because it does not depend one bit on public sentiment and public support for its price. Whereas Bitcoin depends 100% on public sentiment and public support which is very fickle and once you lose it it's very hard to gain it back. And Bitcoin loses it little by little every week. Bitcoin totally depends on a never-ending line of suckers who are willing to invest in it. Gold depends on nothing because gold has intrinsic value. Bitcoin has no value other than what we give it by our willingness to get sucked into buying it.
link to original post

You gotta be kidding.

Gold is not an investment. Investments like companies, real estate and farms produce things and/or generate income. Their values are ultimately determined by the future income they can generate. Gold is a commodity; it produces nothing and most of it just sits in bank vaults

Gold always comes back? If you bought in 1980 for $1000 (about $4000 in today's dollars) you’re holding a huge multi-decade loss. And you have no dividends or profits to defray the real capital loss since gold doesn’t produce anything

Gold’s “value” is simply what the next sucker will pay for it. Though I’ll admit I’d buy gold before I’d buy bitcoin. As an ancient store of value (literally a hard currency) gold will probably always be worth something. Impossible to forecast what that something value will be
link to original post

Why would anyone buy gold for $1,000 in the 1980s? I bought plenty of it and except for two or three quick spikes, it was in the low to mid-hundreds. Everyone harps on the peaks gold and silver hit when the Hunts tried to corner the market, but anyone else who bought bullion gold or silver did all right. I bought the $50 gold eagles when they came out in 1986 and they cost about $400 then. Now the proofs can go for $2,000.
An ounce of gold has bought a good suit for the last few hundred years. It's amazing how wise those 18th Century tailors were able to set the world economy for centuries to come.

Quote: darkoz

Quote: billryan

Anyone who bought it in the last two years is almost certainly underwater.
Do you agree with that?
link to original post

No I don't agree.

Exactly two years ago to this day Bitcoin was at $17,000+

During that two years period it climbed to $60,000.

To make a claim that anyone who purchased in the last two years is underwater with their Bitcoin investment is to make the ridiculous claim that in two years people purchased Bitcoin and no one sold.

Obviously someone who purchased at $17,000+ and sold at anything higher up to $60,000+ per coin isn't"underwater"

You always try to prove your fallacious points by Leaving out pertinent information. It's your MO and it's quite despicable.
link to original post

Perhaps the discrepancy is that, when BillRyan says investing, he means investing and you use investing interchangeably with trading, no offense meant.

Quote: darkoz

Quote: billryan

Anyone who bought it in the last two years is almost certainly underwater.
Do you agree with that?
link to original post

No I don't agree.

Exactly two years ago to this day Bitcoin was at $17,000+

During that two years period it climbed to $60,000.

To make a claim that anyone who purchased in the last two years is underwater with their Bitcoin investment is to make the ridiculous claim that in two years people purchased Bitcoin and no one sold.

Obviously someone who purchased at $17,000+ and sold at anything higher up to $60,000+ per coin isn't"underwater"

You always try to prove your fallacious points by Leaving out pertinent information. It's your MO and it's quite despicable.
link to original post

The third explanation seems to have gone over his head, just as the last two did.

I'll try to dumb down the question.
If you owned bitcoin two years ago and own it today, how much money have you made?
If you bought bitcoin anytime in the last two years and own it today, how much money have you made?

Quote: darkoz

Quote: billryan

Anyone who bought it in the last two years is almost certainly underwater.
Do you agree with that?
link to original post

No I don't agree.

Exactly two years ago to this day Bitcoin was at $17,000+

During that two years period it climbed to $60,000.

To make a claim that anyone who purchased in the last two years is underwater with their Bitcoin investment is to make the ridiculous claim that in two years people purchased Bitcoin and no one sold.

Obviously someone who purchased at $17,000+ and sold at anything higher up to $60,000+ per coin isn't"underwater"

You always try to prove your fallacious points by Leaving out pertinent information. It's your MO and it's quite despicable.
link to original post

The third explanation seems to have gone over his head, just as the last two did.

I'll try to dumb down the question.
If you owned bitcoin two years ago and own it today, how much money have you made?
If you bought bitcoin anytime in the last two years and own it today, how much money have you made?

I have no idea how someone would be underwater on something they don't own, but lets not get distracted.

Quote: billryan

Quote: darkoz

Quote: billryan

Anyone who bought it in the last two years is almost certainly underwater.
Do you agree with that?
link to original post

No I don't agree.

Exactly two years ago to this day Bitcoin was at $17,000+

During that two years period it climbed to $60,000.

To make a claim that anyone who purchased in the last two years is underwater with their Bitcoin investment is to make the ridiculous claim that in two years people purchased Bitcoin and no one sold.

Obviously someone who purchased at $17,000+ and sold at anything higher up to $60,000+ per coin isn't"underwater"

You always try to prove your fallacious points by Leaving out pertinent information. It's your MO and it's quite despicable.
link to original post

The third explanation seems to have gone over his head, just as the last two did.

I'll try to dumb down the question.
If you owned bitcoin two years ago and own it today, how much money have you made?
If you bought bitcoin anytime in the last two years and own it today, how much money have you made?
link to original post

Your question is meaningless.

If you owned Netflix stock last year and own it today how much money have you made?

What are you trying to prove Bill? That if you take a particular date you can show the investment went down so it's a bad investment?

Lol welcome to trading! Didn't realize you were a beginner.

Quote: darkoz

Quote: billryan

Anyone who bought it in the last two years is almost certainly underwater.
Do you agree with that?
link to original post

No I don't agree.

Exactly two years ago to this day Bitcoin was at $17,000+

During that two years period it climbed to $60,000.

To make a claim that anyone who purchased in the last two years is underwater with their Bitcoin investment is to make the ridiculous claim that in two years people purchased Bitcoin and no one sold.

Obviously someone who purchased at $17,000+ and sold at anything higher up to $60,000+ per coin isn't"underwater"

You always try to prove your fallacious points by Leaving out pertinent information. It's your MO and it's quite despicable.
link to original post

The third explanation seems to have gone over his head, just as the last two did.

I'll try to dumb down the question.
If you owned bitcoin two years ago and own it today, how much money have you made?
If you bought bitcoin anytime in the last two years and own it today, how much money have you made?

I have no idea how someone would be underwater on something they don't own, but lets not get distracted.

Quote: Mission146

Quote: darkoz

Quote: billryan

Anyone who bought it in the last two years is almost certainly underwater.
Do you agree with that?
link to original post

No I don't agree.

Exactly two years ago to this day Bitcoin was at $17,000+

During that two years period it climbed to $60,000.

To make a claim that anyone who purchased in the last two years is underwater with their Bitcoin investment is to make the ridiculous claim that in two years people purchased Bitcoin and no one sold.

Obviously someone who purchased at $17,000+ and sold at anything higher up to $60,000+ per coin isn't"underwater"

You always try to prove your fallacious points by Leaving out pertinent information. It's your MO and it's quite despicable.
link to original post

Perhaps the discrepancy is that, when BillRyan says investing, he means investing and you use investing interchangeably with trading, no offense meant.
link to original post

No offense received.

But with Bitcoin it's not even about trading necessarily.

A person who brought a coin for $17000 and the made $60,000 worth of purchases at it's high didn't trade it at all. He just sold it off for goods and he isn't "underwater".

The funny thing about Bill isnhe asks questions. Then when he gets answers that prove he doesn't know what he is talking about he rephrases the question to get the correct answer.

He would gain more respect if he just admits when he is wrong instead of trying to out-angle the original question

Quote: billryan

Quote: darkoz

Quote: billryan

Anyone who bought it in the last two years is almost certainly underwater.
Do you agree with that?
link to original post

No I don't agree.

Exactly two years ago to this day Bitcoin was at $17,000+

During that two years period it climbed to $60,000.

To make a claim that anyone who purchased in the last two years is underwater with their Bitcoin investment is to make the ridiculous claim that in two years people purchased Bitcoin and no one sold.

Obviously someone who purchased at $17,000+ and sold at anything higher up to $60,000+ per coin isn't"underwater"

You always try to prove your fallacious points by Leaving out pertinent information. It's your MO and it's quite despicable.
link to original post

The third explanation seems to have gone over his head, just as the last two did.

I'll try to dumb down the question.
If you owned bitcoin two years ago and own it today, how much money have you made?
If you bought bitcoin anytime in the last two years and own it today, how much money have you made?

I have no idea how someone would be underwater on something they don't own, but lets not get distracted.
link to original post

Are you having an epileptic seizure Bill?

You posted the same post at three different times

Quote: billryan

[
An ounce of gold has bought a good suit for the last few hundred years. It's amazing how wise those 18th Century tailors were able to set the world economy for centuries to come.
link to original post

From 1990 to 2005, maybe a “good suit” at Walmart. Was under $300 late 90s early 00s

For long periods an ounce of gold would only buy a decent dinner for two

Quote: darkoz

Quote: Mission146

Quote: darkoz

Quote: billryan

Anyone who bought it in the last two years is almost certainly underwater.
Do you agree with that?
link to original post

No I don't agree.

Exactly two years ago to this day Bitcoin was at $17,000+

During that two years period it climbed to $60,000.

To make a claim that anyone who purchased in the last two years is underwater with their Bitcoin investment is to make the ridiculous claim that in two years people purchased Bitcoin and no one sold.

Obviously someone who purchased at $17,000+ and sold at anything higher up to $60,000+ per coin isn't"underwater"

You always try to prove your fallacious points by Leaving out pertinent information. It's your MO and it's quite despicable.
link to original post

Perhaps the discrepancy is that, when BillRyan says investing, he means investing and you use investing interchangeably with trading, no offense meant.
link to original post

No offense received.

But with Bitcoin it's not even about trading necessarily.

A person who brought a coin for $17000 and the made $60,000 worth of purchases at it's high didn't trade it at all. He just sold it off for goods and he isn't "underwater".

The funny thing about Bill isnhe asks questions. Then when he gets answers that prove he doesn't know what he is talking about he rephrases the question to get the correct answer.

He would gain more respect if he just admits when he is wrong instead of trying to out-angle the original question
link to original post

So ,in your view, the guy who bought at $17,000 and used it to trade for 60,000 dollars worth of purchases didn't sell, he traded.
It's like one side is playing Monopoly and the other is playing Candyland.
Rosannadanna must be laughing in her grave.

Quote: darkoz

Quote: billryan

Quote: darkoz

Quote: billryan

Anyone who bought it in the last two years is almost certainly underwater.
Do you agree with that?
link to original post

No I don't agree.

Exactly two years ago to this day Bitcoin was at $17,000+

During that two years period it climbed to $60,000.

To make a claim that anyone who purchased in the last two years is underwater with their Bitcoin investment is to make the ridiculous claim that in two years people purchased Bitcoin and no one sold.

Obviously someone who purchased at $17,000+ and sold at anything higher up to $60,000+ per coin isn't"underwater"

You always try to prove your fallacious points by Leaving out pertinent information. It's your MO and it's quite despicable.
link to original post

The third explanation seems to have gone over his head, just as the last two did.

I'll try to dumb down the question.
If you owned bitcoin two years ago and own it today, how much money have you made?
If you bought bitcoin anytime in the last two years and own it today, how much money have you made?
link to original post

Your question is meaningless.

If you owned Netflix stock last year and own it today how much money have you made?

What are you trying to prove Bill? That if you take a particular date you can show the investment went down so it's a bad investment?

Lol welcome to trading! Didn't realize you were a beginner.
link to original post

Do you understand leverage? I do and it is one of the biggest problems with crypto. You seem to think if someone owns stocks that go up, it is meaningless until you sell.


Just to recap.
bitcoin is good, gold has no useful purposes and when you buy bitcoin at 17K and trade it for 60,000 you haven't sold the bitcoin. I think that pretty much sums up your arguments.

I can't add any thing to that.

Quote: Ace2

Quote: billryan

[
An ounce of gold has bought a good suit for the last few hundred years. It's amazing how wise those 18th Century tailors were able to set the world economy for centuries to come.
link to original post

From 1990 to 2005, maybe a “good suit” at Walmart. Was under $300 late 90s early 00s

For long periods an ounce of gold would only buy a decent dinner for two
link to original post

https://news.google.com/newspapers?nid=1898&dat=19120126&id=2DIpAAAAIBAJ&sjid=r2QFAAAAIBAJ&pg=1906,1686579&hl=en

This does seem to be a semantic argument over the meaning of "good".

Bitcoin is absolutely worthless on a desert island. At least i could pound gold into a reusable bowl or a hat that won't degrade. Unlike my previous palm hat or coconut bowl.

Gold attracts women. Be old enough and have enough of it and the world will beat a path to wherever you are.
Stand me on an island with 1,000 pounds of food and the search will be called off in a few weeks.
Strand me on an island with 1,000 pounds of gold and the search will go on for decades.

Quote: billryan

Gold attracts women. Be old enough and have enough of it and the world will beat a path to wherever you are.
Stand me on an island with 1,000 pounds of food and the search will be called off in a few weeks.
Strand me on an island with 1,000 pounds of gold and the search will go on for decades.
link to original post

I guess that's because you sent them an email you were stranded with the gold.

Billy, if you won a WoV kindness contest, and the prize, today, was either a check for $15k or one Bitcoin which would you take?

To me Bitcoin is not an investment at all. It is speculation just like trading in commodity futures. Buying corn, wheat, or lean hog futures to me is not an investment. It is pure speculation because none of those things earn money. You are just speculating if the price will go up or down. To me buying stocks is an investment because the companies derive revenue not just the stock price going up or down. Most of my "investments" are stock that pay money, dividends, whether the stock price goes up or down they will return money.

Don't get me wrong, I know very little about buying stocks and a lot of mine the stock price is down. My money would probably be doing better in 9/6 Jacks or Better.

Quote: SOOPOO

Billy, if you won a WoV kindness contest, and the prize, today, was either a check for $15k or one Bitcoin which would you take?
link to original post

I would take 1 bitcoin without hesitation and would promise not to sell it unless it hit 20k or 10k whatever came first.

Quote: DRich

To me Bitcoin is not an investment at all. It is speculation just like trading in commodity futures. Buying corn, wheat, or lean hog futures to me is not an investment. It is pure speculation because none of those things earn money. You are just speculating if the price will go up or down. To me buying stocks is an investment because the companies derive revenue not just the stock price going up or down. Most of my "investments" are stock that pay money, dividends, whether the stock price goes up or down they will return money.

Don't get me wrong, I know very little about buying stocks and a lot of mine the stock price is down. My money would probably be doing better in 9/6 Jacks or Better.
link to original post

you can earn interest etc on cyprto investments. People could loan crypto out and earn high rates of interest.. I don't know enough about all that but, some people were making incredible amounts of money on that stuff.

Again , why are the Bitcoin naysayers not shorting it?

Buy it, short it...or STFU. I'm willing to accept some short positions.

Quote: Ace2

Quote: EvenBob

Look at gold. If you've been following gold for the last 20 years you know there have been some tremendous ups and downs and yet gold always comes back. The reason it always comes back is because it does not depend one bit on public sentiment and public support for its price. Whereas Bitcoin depends 100% on public sentiment and public support which is very fickle and once you lose it it's very hard to gain it back. And Bitcoin loses it little by little every week. Bitcoin totally depends on a never-ending line of suckers who are willing to invest in it. Gold depends on nothing because gold has intrinsic value. Bitcoin has no value other than what we give it by our willingness to get sucked into buying it.
link to original post

You gotta be kidding.

Gold is not an investment. Investments like companies, real estate and farms produce things and/or generate income. Their values are ultimately determined by the future income they can generate. Gold is a commodity; it produces nothing and most of it just sits in bank vaults

Gold always comes back? If you bought in 1980 for $1000 (about $4000 in today's dollars) you’re holding a huge multi-decade loss. And you have no dividends or profits to defray the real capital loss since gold doesn’t produce anything

Gold’s “value” is simply what the next sucker will pay for it. Though I’ll admit I’d buy gold before I’d buy bitcoin. As an ancient store of value (literally a hard currency) gold will probably always be worth something. Impossible to forecast what that something value will be
link to original post

Gold is the same shyte as crypto. Almost nothing valuable in it except tradition.
If there is something that is worth every penny put into it and has intrinsic value it has to be land. Land produces every thing on earth (in conjunction with Sun's energy and atmosphere elements).
And people. That's all there is to it. Land, Sun, Human ingeniosity.
But not gold, diamonds, or crypto shyte. Those are modern civilization concepts that worth nothing by themselves.
Crypto is an (by design) attempt to redistribute wealth from people who have some to people who have none just because the later want some too. It was never meant to be a currency (if Satoshi had two functional braincells at least). It was meant to stir the manure and make people capable of claiming something for nothing. Never gonna work on mass scale. Ever. It will just work until the last sucker realizes how effed they are.

Quote: AxelWolf

Quote: DRich

To me Bitcoin is not an investment at all. It is speculation just like trading in commodity futures. Buying corn, wheat, or lean hog futures to me is not an investment. It is pure speculation because none of those things earn money. You are just speculating if the price will go up or down. To me buying stocks is an investment because the companies derive revenue not just the stock price going up or down. Most of my "investments" are stock that pay money, dividends, whether the stock price goes up or down they will return money.

Don't get me wrong, I know very little about buying stocks and a lot of mine the stock price is down. My money would probably be doing better in 9/6 Jacks or Better.
link to original post

you can earn interest etc on cyprto investments. People could loan crypto out and earn high rates of interest.. I don't know enough about all that but, some people were making incredible amounts of money on that stuff.

Again , why are the Bitcoin naysayers not shorting it?

Buy it, short it...or STFU. I'm willing to accept some short positions.
link to original post

Because you can short things that are better understood than the whims of crypto buyers?

I assume Buffet thinks crypto is a loser but doesn't short it probably for that reason. Am I right? I don't know.

Quote: EvenBob

Look at gold. If you've been following gold for the last 20 years you know there have been some tremendous ups and downs and yet gold always comes back. The reason it always comes back is because it does not depend one bit on public sentiment and public support for its price. Whereas Bitcoin depends 100% on public sentiment and public support which is very fickle and once you lose it it's very hard to gain it back. And Bitcoin loses it little by little every week. Bitcoin totally depends on a never-ending line of suckers who are willing to invest in it. Gold depends on nothing because gold has intrinsic value. Bitcoin has no value other than what we give it by our willingness to get sucked into buying it.

a man who knows he can win every single session at roulette has no need at all to concern himself with investments

a man with that kind of skill is a virtual money machine - no need to spend even one half of a second thinking about what bitcoin or the stock market or gold is doing

if only I had that ability - I can only fantasize - but sadly, I haven't been blessed with that much talent - only in my dreams can I win every single session



.

Another cryptocurrency pioneer dies at 30.
Nothing to see here. Just your typical thirty-year-old billionaire under investigation who dies suddenly.
I'm sure his product is 100% safe, and no one will spark a run on it.

Buy now, before bitcoin reaches $250,000.

Lock yourself in your house for seven years, studying the patterns of candle flames. Once you've mastered that, roulette is a kids' game.

Quote: billryan

Gold attracts women. Be old enough and have enough of it and the world will beat a path to wherever you are.
Stand me on an island with 1,000 pounds of food and the search will be called off in a few weeks.
Strand me on an island with 1,000 pounds of gold and the search will go on for decades.
link to original post

Yeah, if you're into grandmothers.

Google
More young women view crypto as future of saving.
Crypto, for cool girls
Hip chicks love crypto.


That's because they know you may have eaten all the food, or it has spoiled. If you have gold, when the pirates show up they will have killed you and taken your gold, you are not getting off that island alive.

If you have bitcoin you'll probably still have it if you get off the island.

Quote: lilredrooster

Quote: EvenBob

Look at gold. If you've been following gold for the last 20 years you know there have been some tremendous ups and downs and yet gold always comes back. The reason it always comes back is because it does not depend one bit on public sentiment and public support for its price. Whereas Bitcoin depends 100% on public sentiment and public support which is very fickle and once you lose it it's very hard to gain it back. And Bitcoin loses it little by little every week. Bitcoin totally depends on a never-ending line of suckers who are willing to invest in it. Gold depends on nothing because gold has intrinsic value. Bitcoin has no value other than what we give it by our willingness to get sucked into buying it.

a man who knows he can win every single session at roulette has no need at all to concern himself with investments

a man with that kind of skill is a virtual money machine - no need to spend even one half of a second thinking about what bitcoin or the stock market or gold is doing

if only I had that ability - I can only fantasize - but sadly, I haven't been blessed with that much talent - only in my dreams can I win every single session



.
link to original post

Bob only bets enough to pay his bills, which leads me to believe he probably has a very small unit size.

Quote: rxwine

I assume Buffet thinks crypto is a loser but doesn't short it probably for that reason. Am I right? I don't know.
link to original post

I haven't any clue why if someone was so confident something was a pyramid scheme or worthless as to why they wouldn't short the hell out of it. Variance shouldn't be a factor if you are worth as much as he is.

I believe Buffet has never liked investing in anything technology related because he doesn't like investing in things he doesn't understand so he probably doesn't short things he doesn't understand. Bitcoin is probably in opposition to his investments.

Quote: AxelWolf

Quote: rxwine

I assume Buffet thinks crypto is a loser but doesn't short it probably for that reason. Am I right? I don't know.
link to original post

I haven't any clue why if someone was so confident something was a pyramid scheme or worthless as to why they wouldn't short the hell out of it. Variance shouldn't be a factor if you are worth as much as he is.

I believe Buffet has never liked investing in anything technology related because he doesn't like investing in things he doesn't understand so he probably doesn't short things he doesn't understand. Bitcoin is probably in opposition to his investments.
link to original post

Because due to human nature there always will be plenty of suckers who will buy it for speculative purposes and hopes for moonlambo and its price might go up and you'd lose real money shorting it. Doesn't make it any less fundamentally worthless.