That reminds me of Purdue being a 1 seed and losing to a 16. Maybe you should give up on both the Boilers and Bitcoin?
Bitcoin
- Thread starter snarlcakes
- Start date
Remember you're investing long term. 🤣
Seriously, reminds me of a stock I bought 25-30 years ago. I had watched this stock (we used their software) for quite a while and it would go from 17 to 24 back to 17 back to 24,etc so I put in an order to buy some at 17. Well I got a message one day that my order had been filled at 11. It had dropped like a rock and eventually went all the way down to around 3. I thought why sell it now and just held on to it. I had some kind of class at work on the north side of Indy one day and they said for us to take a 15 minute break so I decided to see what the stock market was doing and looked to discover that the stock was $20..... I couldn't type fast enough to sell it.
It stayed in the $20 range for a couple days and then dropped back down to around 3 over then next several days.I don't own any crypto nor do I really care to own any, especially at the price that it's at (yeah I know you can buy fractional shares and all and that price is logarithmic) but the biggest turn off to me has always been the incessant hyping and a common personality that come with the hype of the crypto bro. Meaning it's all 'you're going to miss out on zillions' and if you challenge them the reply is typically 'that's because you're a complete dumbass and a dinosaur".
Again, like buying a time share or any other get rich scheme the aggressive speculation should be a massive red flag and we've seen it a million times before in pump and dump schemes.
That being said, typically when a transformational technology comes around it goes through the crazy speculation phase along with the hype men before it implodes and crashes in some mass extinction event.
Whoever survives that tends to be the market leaders and actually become incredible investments as the technology goes slower from niche to main stream, having multiple years of crazy but steady and solid growth.
Moral of the story, I'm probably not considering it until 80 to 90% of current crypto gets wiped out and the market leaders survive. Bitcoin is the current leader and I believe is traded on reliable exchanges so....that would be my bet but again, I wouldn't even think of it until the first mass extinction event (if it happens).
Again, like buying a time share or any other get rich scheme the aggressive speculation should be a massive red flag and we've seen it a million times before in pump and dump schemes.
That being said, typically when a transformational technology comes around it goes through the crazy speculation phase along with the hype men before it implodes and crashes in some mass extinction event.
Whoever survives that tends to be the market leaders and actually become incredible investments as the technology goes slower from niche to main stream, having multiple years of crazy but steady and solid growth.
Moral of the story, I'm probably not considering it until 80 to 90% of current crypto gets wiped out and the market leaders survive. Bitcoin is the current leader and I believe is traded on reliable exchanges so....that would be my bet but again, I wouldn't even think of it until the first mass extinction event (if it happens).
Unless I truly don’t understand crypto, I’m pretty sure the price is not logarithmic. But I do get your points.
It probably isn't the right term. I'm basically trying to say that there is no limit on how high a price is as it's all relative.
So while it might seem strange to think of Bitcoin hitting $75,000 or $150,000...it doesn't really matter as there is nothing preventing the price hitting.
I remember Priceline back in the day refused to split so it went from $30 to something like $2300 in a few years while we were thinking 'man, it's pretty expensive at $400'.
So whatever that term, if there is one, is what I was trying to disclaim.
Accept it’s always taxed and can be seized by the government. How many countries would you want to own land in?
At least I can look at it.... Owning an electrical entity that only exists on some server buried below the Pacific isn't my cup of tea
That’s reasonable. I was just pointing out that a majority of people on the planet don’t have strong property rights. I wouldn’t want to own land in China, India, Africa, South America, and etc.
We’re one despotic leader away from the same thing
Yeah, I’ve never posted my insane love for Bitcoin. I should probably start doing that.
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Edit: I forgot to troll @JamieDimonsBalls. Does Larry manage enough money to take his advice? Always remember you buy Bitcoin at the price you deserve. Unfortunately, that's going to be a lot higher for you.
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A high end computer continually scans for trades with BitCoin. Then they play margins. You can generally mine like $200/month. The issue is you need to extensively cool your home, or someone will think the heat signature means you’re growing weed.
@BradStevens a couple days ago I mentioned savings is a good thing. Breedlove sums it up pretty well from an Austrian economics point of view in this tweet.
Don't be this guy.
@BradStevens and @mcmurtry66 for your own sake, I hope you guys own Bitcoin. The spot ETFs have an 8 day window for approval, which is why the price is ripping some. If they aren't approved, it looks like it will definitely happen by January 10th. Sell every flat bill you own and buy Bitcoin.
This is a good clip @i'vegotwinners. The problem with your suffering is you're confused on the root cause of it. The issue isn't capitalism or free markets, it's the centralization of the money. Don't worry buddy Bitcoin will eventually fix this issue.
Bitcoin has demolished gold the last 15 years and will continue to destroy it. Everything is going to zero against Bitcoin.
Different Strokes fren.....
I hope you become wealthy...
Fing boomers man. They don’t see the future like young guns like me and @snarlcakes
it's generational. we're basically kids of the 90s and after. we don't see the world the same way
On some level it is. Whether Jamie likes it not technology disrupts everything. He can cry about it and stay in his horse and buggy. I choose progressive and Lambos.
Nothing beats Dilithium crystals as a natural resource investment.
