Cryptocurrency

[OILERMAN]

12 hours ago, Supdawg said:

That's losing 7-10% of purchasing power per year? I hope like hell you're not seriously stockpiling US dollars. 

 

90%+ of my money is in equities

 

How much of yours is in BTC? 

[Supdawg]

26 minutes ago, OILERMAN said:

 

BTC was suppose to be a new form of currency, that's out the window so it has no "purchasing power". If you're a believer why would you buy something anyway, it's going to 100 mill a coin!

 

It was also suppose to be an inflation hedge, so much for that idea too

 

The bank found that “Bitcoin has not been compelling as an inflation hedge as commodities and even equities provide better correlations to inflation,” and went on to recommend that the argument for holding Bitcoin is not diversification, declining volatility, or inflation protection, but rather sheer price appreciation

 

If you're buying BTC it's simply because you believe someone will pay more for it than you did. That will also go out the window

 

 

Of course you're buying BTC because you believe someone will pay more for it in the future. That literally the thesis of any investment in the world, lol. 

 

As far as it being down 43% since November that's true, but it's also up 330% in the past 24 months so we can play that game all day and up 2900% in the past 5 years. Or 12000% in the past 7 years... Or..... 

[OILERMAN]

16 minutes ago, Supdawg said:

Of course you're buying BTC because you believe someone will pay more for it in the future. That literally the thesis of any investment in the world, lol. 

 

It's the only reason you buy BTC.

 

I made over 20k in dividends last year because the companies in the funds I own make a profit providing services/goods people buy. 

 

It has no intrinsic value and is not backed by anything. Bitcoin devotees will tell you that, like gold, its value comes from its scarcity—Bitcoin’s computer algorithm mandates a fixed cap of 21 million digital coins (nearly 19 million have been created so far). But scarcity by itself can hardly be a source of value. Bitcoin investors seem to be relying on the greater fool theory—all you need to profit from an investment is to find someone willing to buy the asset at an even higher price.

[Supdawg]

12 minutes ago, OILERMAN said:

 

It's the only reason you buy BTC.

 

I made over 20k in dividends last year because the companies in the funds I own make a profit providing services/goods people buy. 

 

It has no intrinsic value and is not backed by anything. Bitcoin devotees will tell you that, like gold, its value comes from its scarcity—Bitcoin’s computer algorithm mandates a fixed cap of 21 million digital coins (nearly 19 million have been created so far). But scarcity by itself can hardly be a source of value. Bitcoin investors seem to be relying on the greater fool theory—all you need to profit from an investment is to find someone willing to buy the asset at an even higher price.

LOL, I made more than that in interest from my crypto holdings

[OILERMAN]

38 minutes ago, Supdawg said:

LOL, I made more than that in interest from my crypto holdings

 

I made 364k in 2021 in market gains without dividends 

[OILERMAN]

And the reason I only mentioned dividends is because markets go up and down and gains are made on paper unless you actually sell. 

 

Dividends are actually paid out and something you get from equities quarterly 

[Jamalisms]

3 hours ago, OILERMAN said:

 

BTC was suppose to be a new form of currency, that's out the window so it has no "purchasing power". If you're a believer why would you buy something anyway, it's going to 100 mill a coin!

 

It was also suppose to be an inflation hedge, so much for that idea too

 

The bank found that “Bitcoin has not been compelling as an inflation hedge as commodities and even equities provide better correlations to inflation,” and went on to recommend that the argument for holding Bitcoin is not diversification, declining volatility, or inflation protection, but rather sheer price appreciation

 

If you're buying BTC it's simply because you believe someone will pay more for it than you did. That will also go out the window

 

 

 

Which is effectively a Ponzi scam.

 

Disconnect from utility, bordering on no utility, and the only way it works and keeps working is to bring ever-increasing numbers of people in to pay off the people who invested before.

[BobbyCoins]

1 hour ago, Jamalisms said:

 

Which is effectively a Ponzi scam.

 

Better the ponzi you know, right?

 

1 hour ago, Jamalisms said:

Disconnect from utility, bordering on no utility, and the only way it works and keeps working is to bring ever-increasing numbers of people in to pay off the people who invested before.

 

The only way Google search works is that people actually use it to look up info. The only way clean assholes work is that people actually wipe the shit away with toilet paper. The only way horseback delivered mail has survived into the 21st century is that it started using motorized carriages such as trains, planes, and automobiles.

I'll tell you what. We may have both missed out on buying stock in Google in 1999, but we're both sure as fuck a couple of Google using fools here in 2022, aren't we?

[BobbyCoins]

 

[titanruss]

19 hours ago, OILERMAN said:

 

It's the only reason you buy BTC.

 

I made over 20k in dividends last year because the companies in the funds I own make a profit providing services/goods people buy. 

 

It has no intrinsic value and is not backed by anything. Bitcoin devotees will tell you that, like gold, its value comes from its scarcity—Bitcoin’s computer algorithm mandates a fixed cap of 21 million digital coins (nearly 19 million have been created so far). But scarcity by itself can hardly be a source of value. Bitcoin investors seem to be relying on the greater fool theory—all you need to profit from an investment is to find someone willing to buy the asset at an even higher price.

 

I get decent money every month from staking crypto. .... and i'm not even staking that much.

[OILERMAN]

 

[OILERMAN]

[titanruss]

On 2/23/2022 at 6:33 AM, OILERMAN said:

 

I made 364k in 2021 in market gains without dividends 

Just on 2021 that's less than what I made in crypto in gains with I'm assuming significantly less invested. 

[BobbyCoins]

8 hours ago, OILERMAN said:

 

 

That's because they're idiots.

 

8 hours ago, OILERMAN said:

 

BTC was down to 34.4k last night.

Back up to 37.1k right now.

 

People gonna people. 

[titanruss]

Its so weird to me how people jump into gold... like... what is the trust in that?

 

You are buying a piece of paper that says you have gold.

 

You are buying literal paper gold that isnt even backed by real gold fully any more.....

 

.... to do what with? Currency breaks down in a crisis of war and what are you going to trade? Your unregistered gold certificates? You cant get real gold with it no matter where/what you do.

 

It's simply a trade over to be a differnt store of value and a significant;y less secure and more trust needed form of a store of value. if shit really hits the fan gold certificates will be worth less than the hopes and prayers they are written on.

 

but its a system people decided to buy into.... so it works. fickle, stupid, pointless, manipulated, truly useless... but it works because people adopted it as what they are supposed to do through years of propaganda.

 

No different than crypto  - other than crypto is significantly more useful from purely digitally use/trade/fucntion standpoint...... also, gold adoption isnt increasing at the same rates as crypto so...