Posted on 11/07/2023 6:12:21 AM PST by Enlightened1
Yeah…I guess. I disagree with your characterization. At this point my “trigger” price is still a 10000% gain. So….periodic harvesting insulates me from any loss these days. It’s ALL a bonus at this point.
If you have removed your investment, youve done well. It could drop to zero tomorrow and it doesn’t affect you the same way that somebody, who hasnt done that.
Haha!
Yeah like the USD.
To me (admittedly ignorant of BitCoin mechanics), in some ways the chart resembles a Ponzi scheme chart.
Here is the only answer to those who lost everything to this scam... aside from the short I posted there is this idea from a great film— the answer every sucking egg dog and illegal alien coming in expects from the formerly Great Satan..... Gibs me Dat!!
Guy loses their entire nest egg in Vegas on an RV trip to “america” to his crazy wife putting all on 22 while he sleeps-— everything.
A great scene from Lost in America (a really great movie!):
https://www.youtube.com/watch?v=pf2q0HemaFs
I love that scene!
“And...and.....you have *things* over easy with toast!”
In every way a Ponzi Scheme... this “chart”. Even to a real estate derivatives algorithm developer for THAT fake @ss monopoly money source.
But as for a replacement for a nest egg for societal drop outs or “never were” clowns, there is this scene between husband whose wife loses all of there cash nest egg riding 22 at roulette in Vegas. “I lost the nest egg”. Points out another commodity one could rely on... as a criminal! Heheh!
https://www.youtube.com/watch?v=xdMilnKGJdA
There were bitcoins “mined” in the first block. There are still bitcoins being “mined” today. That will continue until there are 21,000,000 bitcoins in existence. Then, no more can be created. “Mining” will be paid through processing transaction fees after that.
So, the early adopters have been “paid well.”
The “beauty” of bitcoin is the blockchain. THAT technology is already in use in many applications all over the world. It leads to less friction in the marketplace and it presents an unalterable history of transactions. Anyone thinking Bitcoin is “untraceable” doesn’t understand how any of this works.
And, trust me, the IRS knows how bitcoin works, wallets work, and how they are to be taxed. I recently finished a 4 year long examination of my bitcoin transactions from 2013 through last April. It took a while, but they dug into every nook and cranny and asked about small transactions that I had honestly forgotten. We ended up being “cool”, but I got a lesson in IRS accounting.
Don’t leave out the dealer who makes it a Ponzi— The Federal Reserve Bank. A private bank that Congress chartered to both abrogate their Constitutional duty to maintain United States currency— and thus be politically vulnerable answering for any crap they do, and also to provide a personal piggy bank for these chicken shite Congress clowns, to borrow “money” from and then tax the Public to pay back what they redistribute to their fiefdoms. Dismantle the who thing— eliminate the non-Federal “Federal” reserver which was created by JP Morgan, Bernard Baruch, and Senator Aldrich in 1913. And we still had the Great Depression- intentionally and WWII/FDR.
Tell her we currently live in a fractional reserve banking debt based economy. That only way our economy grows is when we create money via loans that are largerly based on credit. Every time we do this it this creates inflation and devaluation of our dollar.
Bitcoin is a fractional savings based economy. The more Bitcoin you save the more bang for your buck you get. This is because Bitcoin fractionalizes infinitely with out making more than 21 million Bitcoins.
With Bitcoin time ultimately time is your friend unlike the dollars that depreciate in value.
Honestly, the “greed” days are likely coming to a close. The next big rush will be when the SEC approves an ETF, which would allow folks to buy Bitcoin in investment accounts. That is coming, we just don’t know when.
When that day comes it will be likely that large firms will start buying bitcoin outright (although they have been buying for years in anticipation of those days.). Expect $5k-$10k gain days for a while after that.
People get confused about the pricing, thinking that you have to buy whole units. That is not true. Bitcoin is divisible to eight decimals (hence the name “bit”.). One school believes that when the 21 million are “mined” and larger investors can get into it, the thought of owning a single bitcoin will be consider unreachable.
I personally think that is very wishful thinking. But my $3,000 investment from 10 years ago has already paid me back…and a lot more. If it ran as high as the optimists think…I will be able to afford an island somewhere.
As they used to say, "With the Russians in Frankfurt, the Deutschmark is toilet paper".
Who=Whole.
And, true to form the economy wrecker moron JoeBama along with all the other loser demonrats and mil-industrial “producers” of “defense”, not for the US but for “markets” (and secrets of them sold away to Chi-Coms by...demonrats!)-— JoeyBags wants to get the US into a new World War, because it eliminates all claims to the National Treasury by eliminating the claimants (in the US and overseas proxies known as “allies”).
Brings to mind the only country which fully paid the US war reparations due... and it was Finland. No one else did to thank us for the lost of so many US sons (and daughters) and disappearing the American family farms of personal independence.
Bitcoin is gonna make WeWork look like a wonderful investment soon enough.
Invest in tulip bulbs—at least you can smell and touch them when the power goes out....
Oh, she’s been listening to me prattle on about it for years. LOL
Unless you lose your password; or your heirs are locked out of your computer and password manager....
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