Cryptocurrency

[OILERMAN]

I heard a finance guy on a podcast make the best point about Bitcoin. 

 

He said it was crazy 10 years ago when it went from 10.00 to 20.00 and people wondered how high it could go. But he said what was truly insane is that there were really two scenarios, either it faded away or it developed into something with a real use. It didn't do either, it kept going up and there is still no real use for BTC. 

[abenjami]

There's absolutely a real use for BTC.  It's used a ton for criminal activity.

[9 Nines]

 I was talking to the local heroin addict the other day.  He does not know much about anything, but he told me all kinds of things about bitcoin. 

 

[BobbyCoins]

 

[pat]

Transaction fees are a real problem with Bitcoin.  No one gives a shit about 4% after gaining 40000%.  But when gains are 10%, paying 4% per transaction eats away the account like Stormveil castle.

Edited April 19, 2022 by pat

[OILERMAN]

7 hours ago, pat said:

Transaction fees are a real problem with Bitcoin.  No one gives a shit about 4% after gaining 40000%.  But when gains are 10%, paying 4% per transaction eats away the account like Stormveil castle.

 

It's down -28% over the last year. 

[pat]

2 hours ago, OILERMAN said:

 

It's down -28% over the last year. 

yep making transaction fees even worse.  -4% is a real kick in the balls when it’s in addition to a loss.

[pat]

if Bitcoin doesn’t go up by inflation plus 4% the inflation hedge actually  loses money.

[BobbyCoins]

12 hours ago, pat said:

yep making transaction fees even worse.  -4% is a real kick in the balls when it’s in addition to a loss.

 

You know... I'm starting to wonder if it'll ever catch on.

I think I'm going to go sell off what I have and never speak of it again.

[pat]

5 minutes ago, NashvilleNinja said:

 

You know... I'm starting to wonder if it'll ever catch on.

I think I'm going to go sell off what I have and never speak of it again.

 

i'm starting to feel the same way about my nqso's too

[OILERMAN]

8 hours ago, NashvilleNinja said:

 

You know... I'm starting to wonder if it'll ever catch on.

I think I'm going to go sell off what I have and never speak of it again.

 

This is actually sound strategy

 

Start buying a total stock market ETF instead

[Supdawg]

On 4/17/2022 at 8:09 PM, abenjami said:

There's absolutely a real use for BTC.  It's used a ton for criminal activity.

So is the US dollar! 
 

 

 

On 4/18/2022 at 8:13 PM, pat said:

Transaction fees are a real problem with Bitcoin.  No one gives a shit about 4% after gaining 40000%.  But when gains are 10%, paying 4% per transaction eats away the account like Stormveil castle.

 

4% per transaction? Geez you're getting screwed. There are so many places to buy Bitcoin for less than 100 bps fee. 

On 4/19/2022 at 8:16 PM, NashvilleNinja said:

 

You know... I'm starting to wonder if it'll ever catch on.

I think I'm going to go sell off what I have and never speak of it again.

 

Not sure if serious or not? LOL 

[Supdawg]

Meanwhile tik tok, here comes the next block. 

 

 

 

[abenjami]

7 hours ago, Supdawg said:

So is the US dollar! 

 

Sure, no doubt.  But do you honestly not understand how much easier (and less traceable) it is to send a lot of value from one person to another using bitcoin instead of dollar bills, especially when you're talking about sending value to a different country?

[pat]

On 4/27/2022 at 11:44 PM, abenjami said:

 

Sure, no doubt.  But do you honestly not understand how much easier (and less traceable) it is to send a lot of value from one person to another using bitcoin instead of dollar bills, especially when you're talking about sending value to a different country?

 

Bitcoin is actually quite traceable.  That's sort of the point of a "distributed ledger".  I don't really know where it will go next.  While it wasn't my wisest investment decision, it is worth more than my work options which are under water at the moment.