Any Bitcoin or crypto currency?s investors

[HipWubba]

You're absolutely right, bc5391. Bitcoin and cryptocurrencies can be quite a rollercoaster, especially when it comes to trading and the associated fees. It's crucial to weigh the risks and rewards carefully.

 

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[FreeBirdTim]

But it's not money, since it's backed by no one and nothing. The U.S. dollar may lose some value, but it will never go to zero because it's backed by our country. Bitcoin can easly go to zero if there's a run for the exits.

The worse part is most of the people who bought it for under 20k refuse to sell it and are actually buying more! If you're up thousands on bitcoin, sell it! Don't be the last one out on this Ponzi scheme.

 

[robertk]

But it's not money, since it's backed by no one and nothing.

Neither is any modern currency, really, including the US dollar. ("Backed by the government"? What does that even mean? If my dollar won't buy anything, what is the government going to do about it?)

The U.S. dollar may lose some value, but it will never go to zero

It's trying really hard.

Bitcoin can easly go to zero if there's a run for the exits.

But this I absolutely agree with.

 

[pepperj]

The thing is that a person can be pocket rich, paper, land, PMs, asset....
Buying into one thing and holding it for security/investment is what most do.
Buying something that is totally dependent on the computer/internet seems a tad risky.
A little bug, zap, hack and poof it's all gone.
Basically into the thin air.
At least with a tangible asset there's something.

 

[FreeBirdTim]

I played around with bitcoin and ethereum a couple of years ago. Bought and sold it through Paypal, but the fees kept eating up any profit I made trading them.

I'm long on COIN stock right now, since they're making a killing on fees. Seems like a safer bet than trying to guess when bitcoin will soar or tank. Too erratic for my taste...

 

[LawrencetheMDer]

I found a bitcoin the other day metal detecting a public beach!
When asked what my most valuable find was metal detecting, I say I just found a whole bitcoin and watch the expression on their face. Worth a whole bitcoin.
Honey, get me another beer...

 

[QPublius]

Cryptocurrency is not legal tender and is not backed by the government.

Cryptocurrency, (including but not limited to tokens such as bitcoin, litecoin and ethereum, and stablecoins such as USDC), is not subject to Federal Deposit Insurance Corporation (“FDIC”) or Securities Investor Protection Corporation protections.

With the strokes of any keyboard... at anytime... anywhere in the world... by any one of the millions of the unscrupulous hackers just waiting for you to slip.

your "investment" could be gone in an instant... and you will certainly have ZERO recourse at best in recouping.

With that said...

Invest away...

just dont invest anything you are not willing to loose in a millisecond of anonymity.

fiat "the us dollar" has a negative annual lost in value.
the dollar is a note, promise to pay
Central control $$$
Primarily, the collateral on it's $$$ value is every sq inch within the u.s. boundaries and all resources
The IRS chains to Sovereign production until death do we part
Crypto "Bitcoin" is designed. to only produce 21 million, I think
The computer power to create a single bitcoin doubles every 6 months. the closure to the end

"There were 19,573,975 bitcoins in existence as of Dec. 18, 2023. Since the cryptocurrency has a limit of 21 million, there were 1,426,025 bitcoins left to be rewarded"
So one characteristic that is favorable is unit of $ crypto is scarcity.

 

[QPublius]

fiat "the us dollar" has a negative annual lost in value.
the dollar is a note, promise to pay
Central control $$$
Primarily, the collateral on it's $$$ value is every sq inch within the u.s. boundaries and all resources
The IRS chains to Sovereign production until death do we part
Crypto "Bitcoin" is designed. to only produce 21 million, I think
The computer power to create a single bitcoin doubles every 6 months. the closure to the end

"There were 19,573,975 bitcoins in existence as of Dec. 18, 2023. Since the cryptocurrency has a limit of 21 million, there were 1,426,025 bitcoins left to be rewarded"
So one characteristic that is favorable is unit of $ crypto is scarcity.

and Decentralized is favorable.
1 Million dollars can be put on cold storage or usb and Flown across any border you want. My 2 Cents

 

[Johnnybravo300]

Money supply has to grow with the markets. Usually around 1 percent or so, like the annual gold supply. It's never fixed.
The problem with Btc is there's no value to store. It's just a string of numbers.

 

[robertk]

Money supply has to grow with the markets.

Why?

The problem with Btc is there's no value to store. It's just a string of numbers.

How is this different than the dollar bill in your pocket, or the "string of numbers" on a debit card?

The only "value" in any modern currency is the fact that other people are willing to trade for it. Right now, people are willing to trade for bitcoin.

 

[ARC]

Why?


How is this different than the dollar bill in your pocket, or the "string of numbers" on a debit card?

The only "value" in any modern currency is the fact that other people are willing to trade for it. Right now, people are willing to trade for bitcoin.

Not me... nor most i know... so... the key in that is "willing". heh

 

[robertk]

Not me... nor most i know... so... the key in that is "willing". heh

Right. I should have said "some people", of course. I don't have (or want) any either.

 

[ARC]

Why?


How is this different than the dollar bill in your pocket, or the "string of numbers" on a debit card?

The only "value" in any modern currency is the fact that other people are willing to trade for it. Right now, people are willing to trade for bitcoin.

Credit cards and debits are a trap... plain and simple.
People should really wake up to the design of them.

 

[ARC]

For now / currently...
Cash is still king.
Gold / silver other rare precious metals are the only thing in the end that trump cash.

Stick to the basics and you will not go wrong.

 

[ARC]

Want to build wealth.... ? ? ?

IMO... crypto's and the likes are like going to casino... your betting... gambling... and you better know when to hold em and know when to fold em.
The same ole things are the only close to sure fire bets...
Properties... precious metals... and dont forget... TOILET PAPER ! ! !

 

[Siriusz]

I invest in crypto sometimes, but alot of them are trash coins that pump and dump. I'm also a regular stock market investor as well (albeit not a very good one) mostly dabbling in options trading; weekly spy contracts and all. I can tell you one thing however: and that is bitcoin being similar to a tech stock. Whenever the S&P500 moves, btc tends to follow. Lately it's been trying to pull away from the stock market, but I think that they still move with each other to some degree. Lately BTC has been crabbing (moving sideways) a decent amount so there's a possibility it'll fall. Since btc acts as the big cheese in the crypto market, if btc falls, so do all other altcoins.
The general stock market has been pushing continuous highs for the last 2-3 months however, and man i've been burned so many times thinking it'll go down, when in reality it keeps going up. Today was no exception. After yesterdays dump from FOMC meeting, I seriously believed it would keep tanking, but instead price action did a 180 all the way back up.
As someone once said: Losing money is the tuition paid to learn how to make money trading stocks or crypto.

 

[Johnnybravo300]

I played around with bitcoin and ethereum a couple of years ago. Bought and sold it through Paypal, but the fees kept eating up any profit I made trading them.

I'm long on COIN stock right now, since they're making a killing on fees. Seems like a safer bet than trying to guess when bitcoin will soar or tank. Too erratic for my taste...

Why?


How is this different than the dollar bill in your pocket, or the "string of numbers" on a debit card?

The only "value" in any modern currency is the fact that other people are willing to trade for it. Right now, people are willing to trade for bitcoin.

Same difference. Crypto is just a digital fiat.

 

[FreeBirdTim]

To me, the fatal flaw in crypto is simple. You can't make something out of thin air and then claim it has value. The dollar is backed by the U.S. government. Crypto is backed by no one and nothing. The fact that over 2,000 different cryptos have gone belly up proves that statement. Here one day, gone with your cash the next day. Crypto is a great trade, but it's like playing musical chairs. When the music stops and it crashes, the last people out will lose everything.

 

[robertk]

To me, the fatal flaw in crypto is simple. You can't make something out of thin air and then claim it has value. The dollar is backed by the U.S. government.

I agree with you about crypto. I just think the exact same thing is true of the dollar. But we're kinda stuck with it, at least for now.

 

[Siriusz]

I agree with you about crypto. I just think the exact same thing is true of the dollar. But we're kinda stuck with it, at least for now.

At least you still have gold and silver you occasionally find when metal detecting.