Dogecoin up 14,000% since January
May 9th, 2021 at 11:33:08 AM
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Quote: billryanI don't invest in currencies. Not that bitcoin is a currency, but I've never invested in one.
Right, I believe you invest in much more solid stuff like comic books and baseball cards
For Whom the bus tolls; The bus tolls for thee
May 9th, 2021 at 12:01:00 PM
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Quote: darkozRight, I believe you invest in much more solid stuff like comic books and baseball cards
I invest in things I know, things that have proven track records, and things that have abundant upsides. I have no idea why that bothers you and honestly, I have better things to do than argue with you. Invest however you want. As will I.
I don't invest in comics. I buy and sell them. Same with baseball cards, art, and real estate. Someday, you may understand the difference between the two, but until then there doesn't seem to be much point in discussing this.
The difference between fiction and reality is that fiction is supposed to make sense.
May 9th, 2021 at 12:09:37 PM
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Quote: billryanI invest in things I know, things that have proven track records, and things that have abundant upsides. I have no idea why that bothers you and honestly, I have better things to do than argue with you. Invest however you want. As will I.
I don't invest in comics. I buy and sell them. Same with baseball cards, art, and real estate. Someday, you may understand the difference between the two, but until then there doesn't seem to be much point in discussing this.
When someone realizes they are wrong they usually resort to deciding there's not much point in discussing it.
Thanks
For Whom the bus tolls; The bus tolls for thee
May 9th, 2021 at 12:11:02 PM
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I believe that Ethereum will be worth more than Bitcoin eventually. Today Ethereum is at 3,005. and Bitcoin is at 57,600. This is a huge gap but it is closing and will continue. Just the last 6 months and Bitcoin is up 285% and Bitcoin is up 719%. This is a continuing trend.
50-50-90 Rule: Anytime you have a 50-50 chance of getting something right, there is a 90% probability you'll get it wrong
May 9th, 2021 at 12:32:49 PM
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Crypto is too good to be true, but I wish I had millions of it. People hold too much IMO. Who do you respect more and who would you rather be, a guy with 1 billion in bit coin or a guy with 1 billion in real assets? Yeah maybe the BTC guy will be worth 2 billion but also could be worth 100 million. I'm really skittish. I bought some Coinbase stock but I don't really love it.
I am a robot.
May 9th, 2021 at 6:08:38 PM
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Quote: darkozWhen someone realizes they are wrong they usually resort to deciding there's not much point in discussing it.
Thanks
Wow, what a post from DO. Sorry, but please be better.
May 9th, 2021 at 6:27:24 PM
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I have no clue what's up with Crypto and the future. I'm sure a few are legitimate, many are crap. A few will grow up to be monsters. In the meantime, I'll keep investigating, some here and there. I only invest amounts that I don't care of I lose and won't effect me one way or the other.
I been though this with the .com bubble. I made money, but I would have made much more had I got out much earlier.
I can't lose on crypto at this point, I have allraady cashed out many multiple times than I have invested.
I'm under the impression the Crypto market will crash big time at some point and only a few will survive.
I been though this with the .com bubble. I made money, but I would have made much more had I got out much earlier.
I can't lose on crypto at this point, I have allraady cashed out many multiple times than I have invested.
I'm under the impression the Crypto market will crash big time at some point and only a few will survive.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
May 9th, 2021 at 8:31:27 PM
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Quote: KeeneoneWow, what a post from DO. Sorry, but please be better.
Anyone who follows my history on this forum will see I am pretty pigheaded about my positions.
Rarely do I wish not to discuss a topic.
For Whom the bus tolls; The bus tolls for thee
May 9th, 2021 at 8:38:03 PM
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Quote: AxelWolfI have no clue what's up with Crypto and the future. I'm sure a few are legitimate, many are crap. A few will grow up to be monsters. In the meantime, I'll keep investigating, some here and there. I only invest amounts that I don't care of I lose and won't effect me one way or the other.
I been though this with the .com bubble. I made money, but I would have made much more had I got out much earlier.
I can't lose on crypto at this point, I have allraady cashed out many multiple times than I have invested.
I'm under the impression the Crypto market will crash big time at some point and only a few will survive.
Historically, most currencies have crashed.
The US dollar has crashed most notoriously during the great depression.
The German Mark was totally worthless in 1933.
Fiat currency is technically worthless. If you had a million dollars on a desert island with nowhere to spend it, you have a bunch of worthless paper pretty much.
The crypto that survives will be those that deliver services and there are a number of them out there already.
The disconnect I see on this forum is not understanding some crypto delivers a service. People seem to be under the impression crypto is just some etherealdigital bytes with no purpose, owing success similar to the cabbage patch doll, today's fad.
Crypto that deliver a much needed service will be here as long as the services are required
For Whom the bus tolls; The bus tolls for thee
May 10th, 2021 at 12:23:57 AM
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I think people buy cryptos on greed and sell on fear. The holdlers are perceived as being hopeful, but it could be delusional in the end. Cryptos are not really currencies, because people do not really use them to buy anything they want. Some can be used for trivial things, but in the end, the transactions are based on real currencies. If such a thing were to be a currency, they do not ruin fiat, they ruin countries. I'm thinking they're analogous to sports picks, they weed out people who have lost on them and retain people who have seen paper gains. They're dangerous and susceptible to implosion. Just looking at etherium yesterday, the thing has gone up 1900% in the last year, how can it retain such an increase without an immense crash? I would not want to lose 70% of the value in the blink of an eye. People need to be careful and protect themselves with their own wisdom.
I am a robot.
May 10th, 2021 at 3:54:11 AM
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The things that cause a crash can be as mysterious as the things that cause 'irrational exuberance'
however, I've noticed that there is one situation that will always produce a crash, and that is the conviction being held by enough people that you need to sell to prevent further losses. Not just that something is going to go down sharply in value, in these markets that has become normal, but that there is no hope that it will recover, at least for a long period.
There are moments when there is no doubt about it. The experts tell you not to sell in order to try market-timing to buy again, but when there is no doubt you are preventing further losses, what can the experts or anybody say?
This will happen to digital currencies as it does happen in all other markets.
however, I've noticed that there is one situation that will always produce a crash, and that is the conviction being held by enough people that you need to sell to prevent further losses. Not just that something is going to go down sharply in value, in these markets that has become normal, but that there is no hope that it will recover, at least for a long period.
There are moments when there is no doubt about it. The experts tell you not to sell in order to try market-timing to buy again, but when there is no doubt you are preventing further losses, what can the experts or anybody say?
This will happen to digital currencies as it does happen in all other markets.
the next time Dame Fortune toys with your heart, your soul and your wallet, raise your glass and praise her thus: “Thanks for nothing, you cold-hearted, evil, damnable, nefarious, low-life, malicious monster from Hell!” She is, after all, stone deaf. ... Arnold Snyder
May 10th, 2021 at 4:40:45 AM
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Quote: odiousgambitThe things that cause a crash can be as mysterious as the things that cause 'irrational exuberance'
however, I've noticed that there is one situation that will always produce a crash, and that is the conviction being held by enough people that you need to sell to prevent further losses. Not just that something is going to go down sharply in value, in these markets that has become normal, but that there is no hope that it will recover, at least for a long period.
There are moments when there is no doubt about it. The experts tell you not to sell in order to try market-timing to buy again, but when there is no doubt you are preventing further losses, what can the experts or anybody say?
This will happen to digital currencies as it does happen in all other markets.
It's not a stock
If every single owner of Bitcoin simultaneously sold all their coins, and no one purchased them, then every single owner of Bitcoin would still own them.
Likewise, if every single owner of Bitcoin sold all their coins then every single owned coin would now be owned by someone else so how would the value have Benn caused to crash.
There is no Bitcoin manufacturing company that's taking back Bitcoins in some type of return policy
When people stop using Bitcoin it will lose its value but that will be when something better comes along and it will have to be tied into Bitcoin in some way.
Think about it. If you had bitcoin to make purchases and something better came along but you couldn't trade in your Bitcoin for it, why would you make the switch?
And retailers who accept Bitcoin won't stop taking it if people are still using it.
It's here to stay.
I'm not saying it's value won't go down but it's not going away any time soon.
For Whom the bus tolls; The bus tolls for thee
May 10th, 2021 at 5:15:41 AM
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Quote: darkozIt's not a stock
Your IRS and the UK HMRC tax authorities treat it more like a stock than as a currency.
We are SUPPOSED to treat every BTC transaction as a Capital Gains taxable event. If we try to do that properly, it's a nightmare that we don't have just using fiat money.
As currency's go, BTC are pretty rubbish: While it's going up in relative value, we are discouraged from spending it (Why spend your fast rising BTC on a Tesla when you can unload some US$?). When BTC price is dropping, vendors won't be happy to accept it for physical goods. Currencies rather enjoy stability of value.
As a generally fast rising asset, it's pretty good as a store of value investment.
Funny that what makes it a good store of value is what ruins it as a currency, and vice versa... a bit like gold, Oil, Soya beans, or Pokemon cards....
Unlike gold, oil. soya beans, or pokemon cards, your BTC are not much USE on a desert island, or in a post apocalypse, post internet age!
FWIW. I hold roughly 1BTC and I occasionally USE it to trade with online casinos.
Psalm 25:16
Turn to me and be gracious to me, for I am lonely and afflicted.
Proverbs 18:2
A fool finds no satisfaction in trying to understand, for he would rather express his own opinion.
May 10th, 2021 at 5:53:44 AM
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Quote: darkozThe disconnect I see on this forum is not understanding some crypto delivers a service.
What service to they deliver, other than a transfer of imaginary money from one person to another, which all of them do?
"For with much wisdom comes much sorrow." -- Ecclesiastes 1:18 (NIV)
May 10th, 2021 at 5:59:55 AM
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but it has a marketQuote: darkozIt's not a stock
the next time Dame Fortune toys with your heart, your soul and your wallet, raise your glass and praise her thus: “Thanks for nothing, you cold-hearted, evil, damnable, nefarious, low-life, malicious monster from Hell!” She is, after all, stone deaf. ... Arnold Snyder
May 10th, 2021 at 6:09:38 AM
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Quote: darkoz
If every single owner of Bitcoin simultaneously sold all their coins, and no one purchased them,.
May 10th, 2021 at 8:11:00 AM
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Darkoz, people understand the expressed fundamentals for cryptos, but some just don't believe in it. It's risky, you need to know where you buy in nobody will quit holding, or your wallet wont get stolen or the currency site doesn't get hacked. Don't go too deep, don't even have close to all your money by any means. If there is a stock crash, cryptos will fall with them to meet margin requirements on stock plays.
I am a robot.
May 10th, 2021 at 9:14:05 AM
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Anyone who puts much more than 10% of their money into such schemes is a fool. It can't be said much more clearer than that.
BTW- that's true for almost any investment.
BTW- that's true for almost any investment.
The difference between fiction and reality is that fiction is supposed to make sense.
May 10th, 2021 at 9:38:31 AM
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Quote: billryanAnyone who puts much more than 10% of their money into such schemes is a fool. It can't be said much more clearer than that.
BTW- that's true for almost any investment.
Schemes?
Sad!
For Whom the bus tolls; The bus tolls for thee
May 10th, 2021 at 10:35:15 AM
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Quote: WizardWhat service to they deliver, other than a transfer of imaginary money from one person to another, which all of them do?
It's a massive explanation.
I will probably start a thread where I go over each aspect.
Been thinking all morning where to start. Understanding crypto leads to a complicated web of terminology and processes
For Whom the bus tolls; The bus tolls for thee
May 10th, 2021 at 10:37:36 AM
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Have you seen the boom and bust cycles of the past? All it takes is some government intervention on top of everything. Be careful. I hope you bought so low under no circumstance will you need the money for everything. Don't waste your time trying to teach or convince anyone. Just listen and stay flexible.Quote: darkozSchemes?
Sad!
I am a robot.
May 10th, 2021 at 10:47:11 AM
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Quote: onenickelmiracleHave you seen the boom and bust cycles of the past? All it takes is some government intervention on top of everything. Be careful. I hope you bought so low under no circumstance will you need the money for everything. Don't waste your time trying to teach or convince anyone. Just listen and stay flexible.
I'm listening and no disrespect but everything I am reading on here seems full of misinformation and quite a bit of fear.
But you don't have to read what I post.
For Whom the bus tolls; The bus tolls for thee
May 10th, 2021 at 2:29:15 PM
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Such a blanket statement, it certainly can't be true for everyone. Let us say you have a smart young person with a really good job and the skill set to easily obtain another well-paying job easily if needed. If his investments go tits up he has plenty of time and the ability to get right back on track.Quote: billryanAnyone who puts much more than 10% of their money into such schemes is a fool. It can't be said much more clearer than that.
BTW- that's true for almost any investment.
Someome might be in a situation where they have multiple times the amount they need to be comfortable for the rest of their life and they can afford to invest more than 10% without it ever being an issue.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
May 10th, 2021 at 4:44:17 PM
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Delete
Last edited by: gamerfreak on May 10, 2021
May 10th, 2021 at 5:14:45 PM
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I'm over crypto unless it crashes hard and only BTC. I've lost so much money, but not really so much, but how easy it is. All my instincts stink. Any time I do anything w investing try to pick moments, I usually get screwed. I was messing with Doge and got screwed when RH crashed. They said they're looking into it and I'm moving to another platform when I can. On top of that, I think it's possible the RH interface is crooked. You might think you're seeing something, but if you refresh, it's not what you think. How many times have I been punked?
I am a robot.
May 10th, 2021 at 5:23:26 PM
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Yeah so I lost $300 leading up to SNL and about the same thinking it might go to $1. So often seems at the same time you sell, whatever you sold immediately goes up, Buy back, goes down. Sell for a few penny profits, goes up a long time. It's so cruel and not worth it. So funny how I'm so bad at the guessing game. To me it's like POS EV, but with investing it's BS like people at the casino making up things. Then the excuse is you didn't buy and hold. That's not a good answer. Guess variance is a B. I need to buy that monkey.
I am a robot.
May 10th, 2021 at 5:59:43 PM
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Quote: AxelWolfSuch a blanket statement, it certainly can't be true for everyone. Let us say you have a smart young person with a really good job and the skill set to easily obtain another well-paying job easily if needed. If his investments go tits up he has plenty of time and the ability to get right back on track.
Someome might be in a situation where they have multiple times the amount they need to be comfortable for the rest of their life and they can afford to invest more than 10% without it ever being an issue.
From the time we are kids, we are told not to put all your eggs in one basket. As an investor, the whole idea is to diversify. Diverse portfolios work best. Just as Kelly tells you how to bet, there are formulas that tell you how to invest.
Do you think it's okay for a ploppie to bet stupidly simply because he is young and can afford to lose?
Bitcoin might have some use as a hedge, if one uses hedges, but investing a large portion of your money in any one sector or product is foolish. Assuming, of course, that thousands of years of experience have taught people the right way to prosperity.
The difference between fiction and reality is that fiction is supposed to make sense.
May 10th, 2021 at 8:16:53 PM
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Hey, I'm all for diversification, I just don't know where this 10% comes from and why investing more in something would make one foolish, one might want to invest 25% in crypto, 25% in property, stocks, or whatever they feel is right for them.Quote: billryanFrom the time we are kids, we are told not to put all your eggs in one basket. As an investor, the whole idea is to diversify. Diverse portfolios work best. Just as Kelly tells you how to bet, there are formulas that tell you how to invest.
Do you think it's okay for a ploppie to bet stupidly simply because he is young and can afford to lose?
Bitcoin might have some use as a hedge, if one uses hedges, but investing a large portion of your money in any one sector or product is foolish. Assuming, of course, that thousands of years of experience have taught people the right way to prosperity.
We know for a fact playing a -ev game is a dumb bet, we don't know if BTC, ETH, or whatever is a dumb bet, it's all just speculation. I'm sure some people were saying Amazon and other was a bad bet back in the day.
Just because we were told something as kids, doesn't make it true, I was told all kinds of BS when I was a kid that isn't true and it's been debunked by science, meanwhile, some crazy old people(even young people) still believe it's true no matter what science says.
I have been hearing for years how BTC is a bad investment...meanwhile...
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
May 10th, 2021 at 8:47:32 PM
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I agree with Axel, it really depends on your situation. I’m 29 almost 30 with a large income. I have 95% of my net worth in crypto and I know Bill is going to say that’s insane but hear me out. If I’m correct and crypto goes where I think it is going I will never have to worry about money again. On the other hand if my portfolio is worth $0.00 tomorrow I’m young with a large income and I rebuild quite easily. The way I see it, I have infinite life changing upside and a very small inconsequential downside.
You can shear a sheep a hundred times, but you can skin it only once. — Amarillo Slim Preston
May 10th, 2021 at 9:35:03 PM
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Quote: onenickelmiracle...Any time I do anything w investing try to pick moments, I usually get screwed...
Quote: PokerGrinder...I have 95% of my net worth in crypto...
These to me display gambling mindsets. Certainly no crime, and not surprising on a board of this nature.
But I think few financial advisors would call either of these ideas investing.
May 10th, 2021 at 10:09:26 PM
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Quote: CalderQuote: onenickelmiracle...Any time I do anything w investing try to pick moments, I usually get screwed...
These to me display gambling mindsets. Certainly no crime, and not surprising on a board of this nature.
But I think few financial advisors would call either of these ideas investing.
But what do they know?
The difference between fiction and reality is that fiction is supposed to make sense.
May 10th, 2021 at 11:58:11 PM
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Quote: CalderQuote: onenickelmiracle...Any time I do anything w investing try to pick moments, I usually get screwed...
These to me display gambling mindsets. Certainly no crime, and not surprising on a board of this nature.
But I think few financial advisors would call either of these ideas investing.
If I believe that this is an excellent investment opportunity and I have the opportunity why wouldn’t I do this? Like I said the downside isn’t that big.
This is gambling but I believe I’m gambling with an edge so I don’t see the issue. I gamble with an edge every day, this is no different.
You can shear a sheep a hundred times, but you can skin it only once. — Amarillo Slim Preston
May 10th, 2021 at 11:59:19 PM
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Btw my financial advisor made me like 10% last year, I made 400%.
You can shear a sheep a hundred times, but you can skin it only once. — Amarillo Slim Preston
May 11th, 2021 at 2:13:11 AM
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Quote: PokerGrinder
This is gambling but I believe I’m gambling with an edge so I don’t see the issue. I gamble with an edge every day, THIS IS NO DIFFERENT.
sorry, but you're incorrect - it is different
I believe you have an edge - as just about everybody does who wades into a bull market - but only because it's been rocketing upward for quite some time
if that changes and it starts to rocket downwards or waffle and chop up and down I believe your edge and everybody else's will disappear
one main reason is that currently there is not the opportunity to sell these currencies short except possibly with ETFs and that will not be anywhere near as volatile as buying the currency outright
so, it's not at all like your edge at poker - where you're just better than the majority of players that you face
and that will always be the case unless the underclass at poker improves dramatically - and that is very unlikely
Quote: PokerGrinderBtw my financial advisor made me like 10% last year, .
the S&P 500 gained 18.40% including dividends in 2020 - you underperformed the broad market by a lot
if you used a financial advisor it suggests you are not comfortable trading the market by yourself
*
Last edited by: lilredrooster on May 11, 2021
Please don't feed the trolls
May 11th, 2021 at 2:57:17 AM
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Your parents will be glad to have their basement back.Quote: PokerGrinderThe way I see it, I have infinite life changing upside and a very small inconsequential downside.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
May 11th, 2021 at 3:14:23 AM
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Quote: AxelWolfYour parents will be glad to have their basement back.
Lol thanks boss
You can shear a sheep a hundred times, but you can skin it only once. — Amarillo Slim Preston
May 11th, 2021 at 5:06:38 AM
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I'd think 95% too much and by having less you can increase share if the price drops a lot from current levels.
I am a robot.
May 12th, 2021 at 9:18:38 AM
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Quote: PokerGrinderQuote: CalderQuote: onenickelmiracle...Any time I do anything w investing try to pick moments, I usually get screwed...
These to me display gambling mindsets. Certainly no crime, and not surprising on a board of this nature.
But I think few financial advisors would call either of these ideas investing.
If I believe that this is an excellent investment opportunity and I have the opportunity why wouldn’t I do this? Like I said the downside isn’t that big.
This is gambling but I believe I’m gambling with an edge so I don’t see the issue. I gamble with an edge every day, this is no different.
What edge do you think you have? What insight or advantage do you have that the average buyer lacks? You stated that you think this is an excellent investment opportunity. I'd like to understand what makes it so. So far, it seems most people look at the past performance and think it will continue. If bitcoin is at 50K, it needs to get to 100K for you to double your money. I'd love to have someone explain why one bitcoin is worth more than most luxury cars.
The difference between fiction and reality is that fiction is supposed to make sense.
May 12th, 2021 at 9:43:52 AM
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Quote: billryanQuote: PokerGrinderQuote: CalderQuote: onenickelmiracle...Any time I do anything w investing try to pick moments, I usually get screwed...
These to me display gambling mindsets. Certainly no crime, and not surprising on a board of this nature.
But I think few financial advisors would call either of these ideas investing.
If I believe that this is an excellent investment opportunity and I have the opportunity why wouldn’t I do this? Like I said the downside isn’t that big.
This is gambling but I believe I’m gambling with an edge so I don’t see the issue. I gamble with an edge every day, this is no different.
What edge do you think you have? What insight or advantage do you have that the average buyer lacks? You stated that you think this is an excellent investment opportunity. I'd like to understand what makes it so. So far, it seems most people look at the past performance and think it will continue. If bitcoin is at 50K, it needs to get to 100K for you to double your money. I'd love to have someone explain why one bitcoin is worth more than most luxury cars.
Scarcity and demand.
For Whom the bus tolls; The bus tolls for thee
May 12th, 2021 at 9:51:11 AM
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Quote: darkozQuote: billryanQuote: PokerGrinderQuote: CalderQuote: onenickelmiracle...Any time I do anything w investing try to pick moments, I usually get screwed...
These to me display gambling mindsets. Certainly no crime, and not surprising on a board of this nature.
But I think few financial advisors would call either of these ideas investing.
If I believe that this is an excellent investment opportunity and I have the opportunity why wouldn’t I do this? Like I said the downside isn’t that big.
This is gambling but I believe I’m gambling with an edge so I don’t see the issue. I gamble with an edge every day, this is no different.
What edge do you think you have? What insight or advantage do you have that the average buyer lacks? You stated that you think this is an excellent investment opportunity. I'd like to understand what makes it so. So far, it seems most people look at the past performance and think it will continue. If bitcoin is at 50K, it needs to get to 100K for you to double your money. I'd love to have someone explain why one bitcoin is worth more than most luxury cars.
Scarcity and demand.
And your edge is what? An ushaken belief that it will continue to go up in price?
The difference between fiction and reality is that fiction is supposed to make sense.
May 12th, 2021 at 10:01:55 AM
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Quote: billryanQuote: darkozQuote: billryanQuote: PokerGrinderQuote: CalderQuote: onenickelmiracle...Any time I do anything w investing try to pick moments, I usually get screwed...
These to me display gambling mindsets. Certainly no crime, and not surprising on a board of this nature.
But I think few financial advisors would call either of these ideas investing.
If I believe that this is an excellent investment opportunity and I have the opportunity why wouldn’t I do this? Like I said the downside isn’t that big.
This is gambling but I believe I’m gambling with an edge so I don’t see the issue. I gamble with an edge every day, this is no different.
What edge do you think you have? What insight or advantage do you have that the average buyer lacks? You stated that you think this is an excellent investment opportunity. I'd like to understand what makes it so. So far, it seems most people look at the past performance and think it will continue. If bitcoin is at 50K, it needs to get to 100K for you to double your money. I'd love to have someone explain why one bitcoin is worth more than most luxury cars.
Scarcity and demand.
And your edge is what? An ushaken belief that it will continue to go up in price?
I posted a thread on how crypto works called "what is Crypto". You should read it.
Crypto purchases creates work (Mining). Mining is paid in crypto. People who use their crypto to make purchases create more work.
It's a for lack of a better term a "perpetual motion machine" of finance.
The more it's adopted the more work the more it's in demand the more price goes up.
Of course it's still a gamble but if you examine the major crypto currently they almost all go up in value due to this cyclical purchase creates work creates more demand.
Today eBay discussed they are looking into crypto as a form of payment. You asked earlier what is the definition of currency. Paypal and eBay are integrating crypto into their systems.
https://www.google.com/amp/s/m.economictimes.com/tech/technology/ebay-says-open-to-accepting-to-cryptocurrencies-in-future-exploring-nfts/amp_articleshow/82383066.cms
Soon you will be able to purchase your favorite comic book on eBay using Bitcoin! But you will still be arguing that it's not a currency.
And just as some Ebayers say they only accept PayPal, there will come a time when some Ebayers will say they only accept payment in Bitcoin.
And then those people who want the item and don't have Bitcoin will be left out
For Whom the bus tolls; The bus tolls for thee
May 12th, 2021 at 10:17:02 AM
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It's not a currency. Ebay allows you to buy using coupons they issue. Are eBay coupons a currency. eBay allows me to pay with Paypal. Is PayPal a currency? Is visa a currency?
My question is very simple. Gamer says he was investing with an edge. I 'd like to know what edge he thinks he has.
Your problem is you think that everyone who disagrees with you simply doesn't understand it well enough. You went on for weeks about how leronlimb was going to save the world and eliminate covid and that the rest of us simply didn't get it. I'll state the obvious and point out how wrong you were about it. Now you think you need to educate us on crypto-currency.
My question is very simple. Gamer says he was investing with an edge. I 'd like to know what edge he thinks he has.
Your problem is you think that everyone who disagrees with you simply doesn't understand it well enough. You went on for weeks about how leronlimb was going to save the world and eliminate covid and that the rest of us simply didn't get it. I'll state the obvious and point out how wrong you were about it. Now you think you need to educate us on crypto-currency.
The difference between fiction and reality is that fiction is supposed to make sense.
May 12th, 2021 at 10:24:59 AM
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Do you understand the difference between money and currency? Do you understand that currency is tangible while money is not?
The difference between fiction and reality is that fiction is supposed to make sense.
May 12th, 2021 at 10:34:45 AM
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Edge = there’s still plenty of people in the world to buy into it. So, there is money to be made until at such time there isn’t and prices stabilize or crash.
That’s my best guess at an edge. Is there another?
That’s my best guess at an edge. Is there another?
There's no secret. Just know what you're talking about before you open your mouth.
May 12th, 2021 at 10:36:03 AM
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Quote: billryanDo you understand the difference between money and currency? Do you understand that currency is tangible while money is not?
I understand you stated you trust investopedia.
And investopedia says it a currency.
So apparently you don't trust investopedia.
As for Leronlimab that isn't over yet. A lot of sad corruption issues will come out about the FDA.
Looking like the Philippines is going to approve it after it saved the life of their former president.
I'm still holding. Time will tell on that one
For Whom the bus tolls; The bus tolls for thee
May 12th, 2021 at 11:47:26 AM
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Quote: billryanGamer says he was investing with an edge. I 'd like to know what edge he thinks he has.
PokerGrinder*
FWIW I think crypto is going to crash hard this year, but I have been saying that since bitcoin hit $1k so I am not the person to listen to.
I think PG is smart to invest in crypto the way he has. His “edge” is being 30 years of age and earning a high income.
Best case scenario he gets FU money, worst case he has to rebuild 5-10 years of savings.
May 12th, 2021 at 11:54:06 AM
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Quote: rxwineEdge = there’s still plenty of people in the world to buy into it. So, there is money to be made until at such time there isn’t and prices stabilize or crash.
That’s my best guess at an edge. Is there another?
I don't know. I'm asking myself.
The difference between fiction and reality is that fiction is supposed to make sense.
May 12th, 2021 at 11:57:36 AM
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Quote: gamerfreakPokerGrinder*
FWIW I think crypto is going to crash hard this year, but I have been saying that since bitcoin hit $1k so I am not the person to listen to.
I think PG is smart to invest in crypto the way he has. His “edge” is being 30 years of age and earning a high income.
Best case scenario he gets FU money, worst case he has to rebuild 5-10 years of savings.
The sector will correct itself. They always do. Some early favorites will fall and some longshots will prosper.
The difference between fiction and reality is that fiction is supposed to make sense.
May 12th, 2021 at 12:01:50 PM
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Quote: darkozI understand you stated you trust investopedia.
And investopedia says it a currency.
So apparently you don't trust investopedia.
As for Leronlimab that isn't over yet. A lot of sad corruption issues will come out about the FDA.
Looking like the Philippines is going to approve it after it saved the life of their former president.
I'm still holding. Time will tell on that one
Investopedia defines currency as the physical money in circulation in a country.
Please show me where they say bitcoin is a currency.
The difference between fiction and reality is that fiction is supposed to make sense.
May 12th, 2021 at 12:16:26 PM
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Quote: billryanInvestopedia defines currency as the physical money in circulation in a country.
Please show me where they say bitcoin is a currency.
The definition you say investopedia gives I don't see. Link to that on investopedia, please?
As for Investopedia saying it's a currency it's the first sentence in this link.
https://www.investopedia.com/terms/b/bitcoin.asp
Quote: Bitcoin is a digital currency.
Now, I suppose you will try to say when investopedia says the word "currency" prefaced by the word "digital" that they don't really mean the word "currency", lol.
For Whom the bus tolls; The bus tolls for thee
