Posted on 02/28/2024 5:47:31 AM PST by Enlightened1
Like it or not Bitcoin is the top asset over the last decade.
And the reality about that top asset changes daily based on what? Think about it. It is fashionable today but tomorrow it is out of fashion, It is a lottery ticket with nothing behind it. There are a lot of investments that way.
You are right. YOU CANNOT ELIMINATE RISK IN ANY INVESTMENT. But note that YOU act like this is a SURE THING. That is the danger.
What does history teach us about bit coin? Tulips.
My point to all is to understand what you are doing. Understand the risks and rewards.
Bit coin is the current fashionable lottery ticket. If you like lottery tickets, buy it, but remember lottery tickets become worthless overnight.
Maybe it’s equivalent to buying the winning lottery ticket over the last 10 years that keeps getting bigger over time.
I don’t think is going away anytime soon.
FR CRYPTO PING LIST!
Ping!!
You can convert Bitcoin into dollars or any monitory denomination. You can buy gold or silver with it.
You can do it with any Exchange that does USD, and then send it to your bank account.
I don't understand it either. I have friends that invest in crypto currency who have tried to explain to me how this works, but it just doesn't make sense to me.
If I owned a business, why should I accept Bitcoin for goods or services that my business provides? What's the advantage to that versus accepting traditional, well established forms of currency?
I do too, and it’s what JP Morgan will use.
Although it has an unlimited supply. It’s fees are still hight, but it does well as the first smart contract coin.
—> if all computers stop working how do you use your bitcoins
Few people buy them “to use.”
The “fools” you mention include the wealthiest people on earth, ETFs, etc.
Bitcoin breaks $60.000.00
Think about it. Gambling and lotter tickets go up during tough economic times. Why?
It is not that Bitcoin is just a GOOD investment, it is that everything else is viewed as crap. It is RELATIVE. It tells us that everything else is viewed as a bad investment.
People don’t see a future. You bet the farm, when you think the farm is worthless and you are not in control of anything. You buy Bitcoin when you think everything else is worthless.
Few have read the Wealth of Nations by Adam Smith.
I don’t think is going away anytime soon.
Lottery tickets are still here and people still buy them, but they are out of fashion for many.
The reality is that stocks and bonds in many ways are a lottery ticket these days also.
They change price daily based on created news and govt action, not real economic analysis.
3 years ago I got in pitching at 19k and got out at 68k.
I’ll hold it for years if I have to. I’m in no rush
There are crypto gateways that will instantly settle the crypto in USD, straight to your merchant bank. You don't have to touch crypto to accept it, in the same way that you might offer a third party buy-now-pay-later option, where some other company finances the purchase, but gives you the funds immediately while they service the loan.
The funds settle to your bank, and unlike card schemes, there's no fraud or chargebacks. Payment processing for crypto is cheaper too because there's no counterparty risk.
The reason you WOULD accept it is the same reason you would accept any alternative payment method; you're giving your customers more options to pay.
For instance, tulips are plenty and Bitcoin is not.
Please elaborate.
I’ll admit I have not.
I think it was going on back in the early 80s.
Think my elementary school one or two years tried to get us to sell tulips.
The 'bet' is like any investment into a commodity, that it will still be desired/needed in the future.
With bitcoin ETFs from the largest financial companies in the world, and more and more merchants accepting it as payment, and it being impossible for governments to control or seize, there's little evidence that it won't continue to gain value in a world of debt and inflation.
Unlike frozen concentrated orange juice or copper, supply mining is global, automated 24/7, and requires little investment into equipment compared to physical commodities.
What is one reason that bitcoin will NOT continue to grow as a commodity?
Was bitcoin hacked previously?
You have to keep buying lottery tickets.
I don’t have to keep buying Bitcoin.
Lottery tickets is a tax on the poor.
Bitcoin is an asset for anyone. You just buy and hold, and don’t look at it everyday.
I’m up 1,400% in just over 4 years.
What other investment are you going to get those type of returns?
I get you call assets lottery tickets, and everything is bet.
The difference between a bet and an investment is time.
Bets are settled quick while investments are for a long time.
I think it was going on back in the early 80s.
I do not mean to be critical of you. It was not taught to me either. I had to learn it on my own and do much reflection.
https://en.wikipedia.org/wiki/Tulip_mania
https://www.history.com/news/tulip-mania-financial-crash-holland
The Bitcoin core code and the Bitcoin ledger are public and decentralized. Every has access to view (and mine) it if they want to.
There's nothing to 'hack' except the hashing algorithms (SHA256) which protect the wallets, which are unhackable. There are more combinations to a bitcoin wallet address than there are atoms in the universe. I did the math a while back, and it's something like 1.15e+77.
We will revisit this post in the future.
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