[Cementjungle]: So, are people putting portions of their life savings into Bitcoins.. in case of a collapse? What percentage do most put it? 50%? 90%?
[Errant]: I would feel very uncomfortable investing over say 5% of net worth in crypto at this point. I bounce between 1 - 3%, depending upon it's value and what I have in a wallet at the time. Pretty sure I'm close to the norm... ;)
Folks think nothing of giving up 3% to some CC company for the utility of using their payment method and think nothing of paying 10%+ interest on top of that, while the thought of putting a few hundred or thousand dollars into something they don't understand with an easier and cheaper use and potential for increased value, drives them crazy. :)
Go figure...
That’s the craziest thing I’ve ever heard of.
But it’s just numbers in some computer not real money blah blah blah /ignorantrant
Other News:
•Hong Kong’s First Bitcoin ATM Goes Live Today
•Singapore to Regulate Bitcoin Exchanges and ATMs
•Bitcoin enthusiast wants to set up the virtual currency in Cambodia
•Iranian Government Could Move Quickly to Regulate Bitcoin, Reports Suggest
•Macro Energy Shares Soar on Australian Stock Exchange Following Bitcoin Deal
Wandering around in some fever swamp....
What is this trying to build the “cashless” society that somehow comes into being for the future world that is “Star Trek”? In that “more nearly perfect” future, there never seems to be much reference to stores of value or transactions for goods or services, they just magically appear when the plot line calls for it.
LOL! What’s a portfolio? Got my money tied up in buying gas for the vehicles. Not much ROI on that though. ;>}
No thanks.
My money is in hard assets - agriculture, gold and lead.
I don't pay interest on anything (no mortgages on any of my properties and no credit card balances), and have to pay (built into prices) CC processing fees on products I buy regardless of what payment method I use.
Going to all the trouble to try and buy things with Bitcoins won't save me a penny. Besides, Bitcoin holders aren't getting interest-free loans from anyone.
I got 5% in Tulips instead
I’d buy 2 coins to get framed and hang on the wall, but nothing beyond that. They’d look nice along side of my set of framed US Mint $2 bills.
Do you remember Y2K, and what the hair-on-fire, predictions were.. So? .. NEXT..
Sometimes you win, and sometimes.. ya know
That rear view mirror is fuzzy, but fun.. Whats the point? Are you saying Bitcoin is the new internet, or is it Y2K?
Hope springs eternal...
The first few to get in and get out will make their fortunes. The average man on the street, particularly those who consider themselves savvy, will be left holding the empty bag.
Even the oxymoron ‘mortgage backed securities’ had a 50 / 50 chance. A mortgage is an outstanding liability, not a security, and yet every investor worldwide fell for that one. But at least the possibility remained that the mortgage, which represented an actual physical thing, would be paid.
Bitcoin represents an attempt to create something from nothing. Wasn’t it P. T. Barnum who said ‘There’s a sucker born every minute...” ?
This is an attempt to get 5% of investor’s money, because those looking to diversify their holdings will think “ Roll the dice, it’s only 5% of my total...”.
What backs Bitcoin?
Who runs it?
Have they replaced the CEO who just committed suicide? With whom?
No, it is NOT like the early internet; more like the early dot com bubble.
Speaking of bubbles I consider the current stock market to be in one also. I’m almost all out of it just waiting for the crash so I can move in and pick up the pieces I like.
Does this mean I should sell carbon credits and buy bitcoins? so confused....