The reason why it's valuable is because the world's main money supply is created by these guys in endless quantities, which is why most only exist on computers as well, due to a severe paper shortage actual printing would create:
Posted on 02/08/2021 9:22:35 AM PST by bkopto
Most bitcoiners DO own some gold and silver. It’s not either, or.
Times are not weird. What is weird is that FED has printed $4 Trillion since Chinese virus arrived. That money has to go somewhere. I am having trouble spending my $2600 stimulus checks. Travel is restricted and risky. I have enough clothes, shoes, kitchen stuff. I can buy only so much food because my stomach has limits. So should I eat caviar instead of scrambled eggs for breakfast? I don’t even like caviar. I upgraded to the bigger house last year. My house is now already bigger than I need.
Result is my money has no place left to spend. May be I will but Bitcoins.
Yes. Like how some people believe US dollars are worth something.
LOL.
The same reason the dollar for any asset is.
Because people are willing to pay that to own it.
I could ask the same thing about the US Dollar. Its a piece of paper.
Yes indeed, it’s purely a greater fools market. Those are exciting on the way up but when the music stops, the carnage is brutal.
I keep hearing I should buy Dogecoin. It’s not an option on Coinbase.
:)
LOL. I own both.
The gold and silver have no more intrinsic value than the Bitcoin. It’s what the market places on their value that matters.
I own a 3.2 bitcoin. I originally had a little over 4 I bought when working overseas to be able to make internet purchases when my credit card would not work on some sites.
I bought the total for 1,000.
I sold one for 2,000 to lock in a profit.
So my 3.2 bitcoin ( along with a few others that spun off for free) are now worth 145,000. All pure profit.
2014: Didn’t Bitcoin crash?
2015: Didn’t Bitcoin crash?
2016: Didn’t Bitcoin crash?
2017: Didn’t Bitcoin crash?
2018: Didn’t Bitcoin crash?
2019: Didn’t Bitcoin crash?
2020: Didn’t Bitcoin crash?
The reason why it's valuable is because the world's main money supply is created by these guys in endless quantities, which is why most only exist on computers as well, due to a severe paper shortage actual printing would create:
“Most bitcoiners DO own some gold and silver. It’s not either, or.”
Correct. Like me. Diversification of the portfolio. Bitcoin is worth having in the mix.
Send send me all and any Amazon, Walmart or any other plastic gift cards in your possession. I will pay you 100X the current plastic per lb recycling prices. Also send me all your paper US dollars in your possession. I will pay you 100X the current paper per lb recycling prices.
This offer is open to all. Cash out on all that worthless plastic and paper.
Bout equal portions for me. But, if the prices keep going up, I’m going to have to buy more PM to maintain equal size nest eggs. :)
That’s what I’ve been trying to figure out, I have zero idea how this works. “Virtual money” and someone somewhere down the line gives actual money for this fake money? What?
Because the dollar is worth even less.
Robinhood is a vehicle for the younger generation to learn about investing principles as much as FaceBook is a free site that never uses your personal information and allows free speech and people who want to post their opinions without censorship. The fact is that Robinhood is basically a game app for gambling. When kids are timing the market and day trading, it's 0% investing and 100% gambling.
“Why is bitcoin even worth anything?”
Why is gold worth anything?
Why is a small piece of paper with 100 written on it worth $100?
And lastly, why is an entry in a virtual database, ie, your bank account, worth anything?
As for bitcoin, it’s worth what it’s worth because there enough people, like Musk, are willing to exchange a big chunk of dollars for one bitcoin.
The whole premise that bitcoins are valuable because there can only be a limited number and they are hard to mine is fataly flawed. Can anyone explain what happens when all 21 million bitcoins are mined?
At that point, how are they any different than any other “thing” that where each has a unique id and a set number of them? (not discussing utility value of blockchain tech) Credit cards, lottery tickets, etc...
Your offers are most generous.
I too have similar offers out to liberals who have wallets filled with dead white racists.
I will glad take those symbols of white superiority off their hands for just a nominal handling fee.
If enough Franklins and Grants are involved - I will even mask up and personally provide my services.
I’m just that nice a guy.
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