Posted on 02/08/2021 9:22:35 AM PST by bkopto
Bitcoin jumped to a fresh record high on Monday after U.S. electric car manufacturer Tesla (TSLA) announced its purchase of $1.5 billion of the cryptocurrency.
Tesla is the latest to join a growing list of publicly traded companies buying bitcoin for their corporate treasuries, led by Michael Saylor’s MicroStrategy (MSTR).
(Excerpt) Read more at coindesk.com ...
Why is bitcoin even worth anything?
How does one purchase bitcoin? Is there an ETF route it?
Why is bitcoin even worth anything?
Except if you keep your tulip bulbs in a box locked by a combination padlock and you forget the combination, you can still use a hammer to get them. :)
Why are the little green slips of paper in your wallet worth anything? Why is the little plastic card in your wallet worth anything?
Anything that someone is willing to take in trade for something you want has value. If no one is willing to give you anything of value for Bitcoin, it has no value. But they are, so it does.
It’s value appears to come from people investing in it via ‘stocks’. Companies accept it as a form of payment - namely Tesla is rumored to be accepting BTC coins for payment on their vehicles.
Collecting coins is incredibly hard. Currently there’s a meme-stock called Dogecoin that Must has (intentionally or not) pumped. It’s moved from .024 cents a share to .08 cents a share and holding today. There are companies accepting Doge coins as payment and, based on activity over the weekend, Dogecoin is worth over $10B.
Weird times.
First you need a cryptocurrency wallet. I use Jax Liberty. Wallets tie to exchanges and from there, you can add cash to your wallet and then exchange for cryptocurrency.
Coinbase app.
probably flame me.
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I doubt they could even make your skin feel warm.
As I understand it, if I give someone 453K, Do I get some kind of fancy coin thing in the mail or armored truck, or a piece of paper that says, I own "a" or "some" bitcoin ?
Bitcoin is to buy and hold, or HODL, and hope it goes higher. As a “currency” it has no practical use. You can buy a Walmart or Target or any of hundreds of shopping cards on Gyft. A $10 valued card costs almost $16 through Bitpay and that’s before the miner’s fee. So if you have 18 - 19 $ worth of BTC, you actually have $10 of spendable money.
Because people believe it is worth something.
Yeah, slick apples and oranges argument. Tangible verses digital. One would be better off investing in silver and gold coins than either the greens slips in ones wallet or some digital BS. I have friends who have x-amount of Bitcoins verses my silver and gold coins. I love the looks on their faces when I show them how I can touch, hold, and carry my silver and gold coins and then ask them to produce those Bitcoins they have and touch, hold, and carry them there Bitcoins. All they can do is grab their cellphones. lmao.
Bitcoin and tech stocks will experience a bigger crash than NASDAQ did in 2000. IDK the exact date of crash. Could be 1 month or 6 months or 2 years. Not much longer than 2 years.
Enjoy the party while music is still playing and booze has not run out.
Stock market is now over-valued by 18% over the value reached in 1929 at it’s peak before the crash.
Dang. If I had only purchased $10 worth when they were four for a penny.
In your example, you'd see an entry in your online e-wallet saying you own 10 bitcoins. No physical "coins," no pieces of currency or other paper, etc. If you really want a paper hardcopy, you can print a copy of your e-wallet screen that lists your 10 bitcoins. 10 bitcoins x $45,300/per = "453K".
Once government central banks - notably China and the US, develop their own blockchain currencies- Bitcoin will be outlawed and worth nothing.
Government does not allow competition.
Oh, who cares. Leading Congressional Democrats are now proposing to freely give families $3,000 to $3,600 per child in 2021. So if you're a single parent with, say, 10-15 kids from various unknown fathers, you could get up to another $54,000 in 2021. Pretty sweet deal. And the beauty of it is that government money grows on trees -- it's infinite with no cost. So there are absolutely no worries. Relax. It will all work out in the end. Trust me.
/s
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