Posted on 05/13/2019 4:58:36 AM PDT by Enlightened1
It’s not actually a ponsi scheme because there is a finite number of bitcoin. You cannot keep growing the scheme.
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Many lost in the volatility, true, if they sold at the dip.... just like any other investment.
But Bitcoin did not fail. Their timing failed.
But...Don’t invest what you can’t lose. But... I think there is more potential upside ahead of us than we have had even up to this point.
I think the concept of a secure (away from the exchanges) decentralized autonomous ledger independent of, and immune from any government or border, with the mobility of the internet, has a future we can only speculate at this point.
Volitile? At this point yes, but we are only at the initial adoption phase.
Yup. Your timing of the market sucks. Trying to time the market, calling the highs and lows, is very risky business.
Here is a Bitcoin historical chart for you.
And where are you getting this information. There are always some that lose big doing dumb things but “ millions”. Care to cite a source for this? The fact is there was only a very short time In bitcoin history where the potential for loss was substantial. It’s actually been pretty hard to lose money with Bitcoin. Outside of the few months when it shot up to 19k otherwise if you bought pretty much any other time in the ten year history of bitcoin and still have it you are way ahead.
It is Desperate Money trying to get OUT OF CHINA!
I agree. Also, Venezuela, Zimbabwe, Russia, Iran and a dozen other government controlled fiat currencies, soon to be followed by all the other fiat currencies, including the dollar.
-unless you believe we will never experience the inevitable collapse that uncontrolled deficit spending to the tune of -Hunderds- of Trillions of dollars we will owe in unfunded liabilities from social security, Medicaid and Medicare we will have in the next 30 years...
I don’t believe in denial as a principle.
Yup.
Fortunately for me - I lost very little. Relatively speaking.
Dollar cost averaging is the way for me. It might still be a good investment for you, buying small amounts over time. Think of it as buying potential. Good luck in whatever you do.
My best investment tool?
Matching 401(k) deposits. For the 6% I invest - the company matches half.
Free money. Can’t argue with that.
For those who believe that Bitcoin is worthless because it isn’t backed by anything, please consider this:
-Bitcoin will never be inflated beyond 21 million Bitcoin, just further divided to provide liquidity.
-whereas the dollar is not backed by anything either, but can be printed into infinity, and worthlessness, as well as “Created” every time a bank makes a loan when it has only 10% reserves. It is only really secured by the faith and trust in our government. “Faith and Trust in our government”...yea...
I am not saying Bitcoin will succeed, but it maybe a better bet than most think at this point.
I do that as well.
Bitcoin- 96%
Oil - 36%
Nasdaq 100 - 16%
S&P 500 - 13%
Commodities - 9%
Bonds - 3%
Gold - 1%
Where are you putting your money?
The dollar is backed by the US military which has a modern and large nuclear weapon force.
Dividend stocks from large companies - where there’s a near 0 chance of a total collapse and you get a quarterly payout. Bitcoin like everything else is a great investment if you can go back in time and buy and sell at exactly the right times.
See what time I posted this article about Bitcoin over 7k.
Well it is now over 8k less than 12 hours later.
Now think about suckers who bought at 20k. A lot of noise right now is an indicator that it would most likely attract some more suckers before another deep dive soon.
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