Posted on 01/03/2021 3:48:21 PM PST by Presbyterian Reporter
You mean like bank buy backs and mutual fun trading.
Unless you have been following the market for a few years you might not realize how much has changed in the past two years.
Pro football player in Charlotte has half his paycheck paid in bitcoin.
I have a buy order at about $23. :) I doubt we see the teens again either, at least not for some time, unless there’s some really bad news, like a government crackdown - but look at the huge amount of taxes they’re collecting from all the trading, etc.
What will exist will be the extremely wealthy and the poor. There will be no middle class.
There are a lot of variables at play here.
We shall see. This country also has free and fair elections.
I once traded a bit of BTC for gold. One of my worst trades ever... Lol
The Government is going to crack down on the exchanges. They will tax the crap out of it. They will enforce the “know your customer” laws.
None of which will kill it.
And there are lots of countries in the world. And they are dying to move away from the dollar. “We” can complain about that, and hope it doesn’t happen. But one look around and you can feel it slipping away.
It doesn’t take much to protect yourself.
For example, today I sold my month amount to reallocate it to other less volatile investments. For a significant, five figure sale...my cost basis was $275. The 7 year compounding rate BEFORE this run was almost 90%.
A slight investment today should return similar rates over the next five years. One does not NEED a lot of it.
I’ve read these threads about Bitcoin for the past 5 years.
Same comments.
Same misunderstandings.
Cyberspace is a marketplace. If bitcoins are really as valuable as the market currently makes them appear to be, no one will ever buy things with their bitcoins for fear of losing future money they will bring if they hold on to them. But what good does that do for the people holding them? They have a commodity that they will he hesitant to depart with due to future losses and the inability to replace those they spend.
Bitcoin is divisible to a ten thousandth of a coin. That is universally affordable.
It is accessible to the poorest people on earth, with a smart phone. Your assessment is one of someone trained in traditional finance (if I remember correctly.)
I have a friend who manages large family trusts for a stodgy New England firm. He started asking me about it because the younger members of these trusts are getting tired of the corporate crap that goes on. He had told me his company MUST venture into this to retain clients.
Buy SQ
When a single investment takes over a portfolio, you have to balance stuff over time.
Indeed. The free-market is at work here. If too many large players buying up too much of a single crypto will cause others to stop using it and to move to one of the other flavors. They will sell/trade what they have and drive down the price. It's not like silver/gold/dollar (to some degree) which there is no substitute for.
I’ve got a bunch of Krugerrands that I bought in the Carter years and they’ve been hiding in my safe deposit box for a long time, LOL. You’re right, they’re an insurance policy I never needed.
Pay for groceries ?
pay the hair salon ?
YOU know ... ordinary stuff like that
I’m guessing a governmental digital currency will basically be a digital version of a regular dollar. I doubt they will restrict the supply and make it have the traits of a gold backed currency. It will be inflated away like a dollar is.
And the whole concept of Bitcoin is staying out of grubby government hands.
Agree. Most of the BTC, LTC, and ETH I own(ed) came from miners which I starting running around ‘12. In hindsight, I should have just bought back then, but I enjoyed it. I used the heat produced in winter to heat a small greenhouse and to supplement home heating. I also installed quite a number of solar panels at the time when energy credits and tax incentives paid for about 85% of the cost to do so. When opportunity knocks...
If you go to Binance they have a bunch of cryptos you can buy.
Some are like penny stocks now. I’m looking to throw 50 bucks on a few that are like .028 cents a crypto...just something to hold a few yrs and see what it does.
Stupid question. What is the minimum amount of Bitcoin one can buy? And how/where is the best place to do so?
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