Bitcoin

[fall]

On a macro scale, bitcoin is nothing but a waste of electricity. I am wondering why greens are not attacking it.

 

[black booty lover]

Guys, I've said this a million times and I'll say it again. Stay away from bitcoin. It's but of way transmitting money, and there is lots of way do that. There's no actual value in bitcoin. The only way it goes up in value is if people are willing to pay more then you did for it. It's one step away from a pyramid scheme. I promise you it won't end well if you get into it.

 

[roadhog]

Perspective from Skyy John, aka The Tipsy Bartender.

http://instagr.am/p/CJeyptIHPEI/

 

[black booty lover]

Hang on to it and see what happens.

 

[black booty lover]

so, you suggest what? cad? . or paper gold?

Anything that has actual potential value.

 

[black booty lover]

then The USD CAD EUR WOULD BE OUT OF THAT LIST! because gold sliver metal. that has real value.
fiat, has unlimited printing. that counterfeit money. That is the main reason of such low value! like selling paper gold. i could say i have 1000. tons. but when the safe is open. not even 1...
no thank you. i will stick with milking crypto for gold.

okay, hang on to that bitcoin and talk to me in 3 or 4 months.

 

[BillyZane]

Guys, I've said this a million times and I'll say it again. Stay away from bitcoin. It's but of way transmitting money, and there is lots of way do that. There's no actual value in bitcoin. The only way it goes up in value is if people are willing to pay more then you did for it. It's one step away from a pyramid scheme. I promise you it won't end well if you get into it.

It’s painfully clear you do not understand bitcoin if you claim there’s no value in it. For one, it’s a deflationary currency rather than an inflationary one. There will only ever be 21 million bitcoin, yet this year alone the US printed 1/5 of all dollars in existence. Every year our dollars are worth less and less because of inflation. But with deflation, every year a bitcoin will be worth more and more because supply is limited but demand rises.

Another source of value is that bitcoin is decentralized, no person, company, or government controls it so it cannot be manipulated or printed at will (thus devaluing it). Do some research on the Venezuelan economic crisis and how they’re using bitcoin as a store of value vs fiat currency. In 2018 inflation hit 65,374%!

In terms of traits of money, just look at how bitcoin compares against fiat and gold.

 

[black booty lover]

Another source of value is that bitcoin is decentralized, no person, company, or government controls it

This exactly the reason it has no value. It's only good for illegal shit on the net.

The only reason bitcoin goes up is because someone else is willing to pay more for it. It doesn't produce anything. You can do this with anything, and at the end of the day, the people at the bottom of the pyramid are going to get fucked because eventually when they're stuck with the bitcoin that doesn't produce anything and people realize its worthless, there's no way for it to rebound unless someone else is willing to pay more then you did for it. That's it. That's all it does. Throw as many fancy charts up as you want, but there is NO VALUE in bitcoin.

 

[BillyZane]

This exactly the reason it has no value. It's only good for illegal shit on the net.

The only reason bitcoin goes up is because someone else is willing to pay more for it. It doesn't produce anything. You can do this with anything, and at the end of the day, the people at the bottom of the pyramid are going to get fucked because eventually when they're stuck with the bitcoin that doesn't produce anything and people realize its worthless, there's no way for it to rebound unless someone else is willing to pay more then you did for it. That's it. That's all it does. Throw as many fancy charts up as you want, but there is NO VALUE in bitcoin.

Only good for illegal shit on the net? Tell that to the Venezuelans using it to survive, but I’m sure you didn’t do your research like I asked. We are fortunate to be living in Canada, but not everyone is as lucky. By dismissing an entire nation in economic crisis you are deliberately sticking your head in the sand.

And in response to your pyramid scheme point, I can see how someone who is lacking in the understanding of bitcoin can come to that conclusion, but unfortunately you’re wrong again. If you want a better understanding you should read this https://unchained-capital.com/blog/bitcoin-is-not-a-pyramid-scheme/

An excerpt:

So no, bitcoin is not a pyramid scheme. It is not organized by a sketchy company, pushing high pressure sales tactics. It is not peddling some inferior consumer good, with abundant supply, where compensation is directly tied to recruiting new members to the scheme. Bitcoin is money and its supply is finitely scarce. It does not matter how many people adopt bitcoin; as adoption increases, the same pie is distributed across more and more people, and on average, more people control a smaller and smaller share of the network. Its value increases as a function adoption, and adoption is increasing because its monetary properties are superior to the competition. Bitcoin has a fixed supply, its supply schedule is predictable, and its monetary policy is governed and enforced by consensus. Bitcoin’s pricing mechanism is unmanipulable and cannot be distorted because of its fixed supply. Everything changes around bitcoin but bitcoin’s fixed supply is the constant. Because bitcoin’s supply is fixed and cannot be manipulated, it will eventually become the most reliable pricing mechanism in the world, and consequently, the greatest distribution system of knowledge.

 

[desert monk]

So is the fiat dollar or petro what ever its called now a day. They print more money then the Monopoly guy! oh wait, is that not a monopoly. Hey real board game

The fed has been pumping the USD for over 100 years and it still hasn't crashed. The US dollar isn't going anywhere soon. Worlds largest consumer economy by a very large margin, world's strongest military, by an even larger margin.

 

[Jasmina]

All one has to do is google, 'Satoshi Nakamoto'.

Only good for illegal shit on the net? Tell that to the Venezuelans using it to survive, but I’m sure you didn’t do your research like I asked. We are fortunate to be living in Canada, but not everyone is as lucky. By dismissing an entire nation in economic crisis you are deliberately sticking your head in the sand.

And in response to your pyramid scheme point, I can see how someone who is lacking in the understanding of bitcoin can come to that conclusion, but unfortunately you’re wrong again. If you want a better understanding you should read this https://unchained-capital.com/blog/bitcoin-is-not-a-pyramid-scheme/

An excerpt:

 

[Fun For All]

All one has to do is google, 'Satoshi Nakamoto'.

I just checked it out...the more I read about Bitcoin the more I'm glad I'm not involved...it's over my head, still don't have a firm grip on it.

 

[black booty lover]

I just checked it out...the more I read about Bitcoin the more I'm glad I'm not involved...it's over my head, still don't have a firm grip on it.

Keep it that way. You'll be happy in the end.

 

[hoorawr]

So you posted in November, look at all the gains you missed out on. You know how many hour sessions with SPs I booked because “hey, I made another 5 grand off bitcoin today “

Bitcoin was announced the best performing asset of 2010-2020

I reckon it will also be the best performing asset of 2020-2030 too. 2021 is going to be a crazy year, BTC, ethereum, Decentralized-finance (DeFi) all going to explode!

Buy in, strap in, and enjoy the ride my friend

 

[Fun For All]

So you posted in November, look at all the gains you missed out on. You know how many hour sessions with SPs I booked because “hey, I made another 5 grand off bitcoin today “

Bitcoin was announced the best performing asset of 2010-2020

I reckon it will also be the best performing asset of 2020-2030 too. 2021 is going to be a crazy year, BTC, ethereum, Decentralized-finance (DeFi) all going to explode!

Buy in, strap in, and enjoy the ride my friend

Here's a question...how do you get your money back out of bitcoin?

 

[hoorawr]

Here's a question...how do you get your money back out of bitcoin?

You don’t know how an exchange works? That’s pretty basic stuff bud

Also due to its volatility bitcoin should be a long term-horizon investment. Not something you should be asking about pulling out in 1-2 years. Keep DCA-ing and watch your wealth explode in 5-10 years

Here’s a link that shows the power of DCA bitcoin

Dollar Cost Averaging Bitcoin - dcaBTC

Dollar cost averaging Bitcoin is a popular strategy. This bitcoin investment calculator shows the return of a BTC DCA strategy.

dcabtc.com

 

[Fun For All]

You don’t know how an exchange works? That’s pretty basic stuff bud

Also due to its volatility bitcoin should be a long term-horizon investment. Not something you should be asking about pulling out in 1-2 years. Keep DCA-ing and watch your wealth explode in 5-10 years

Here’s a link that shows the power of DCA bitcoin

Dollar Cost Averaging Bitcoin - dcaBTC

Dollar cost averaging Bitcoin is a popular strategy. This bitcoin investment calculator shows the return of a BTC DCA strategy.

dcabtc.com

My finances are safe...I'm comfortable but don't do risky.

 

[hoorawr]

My finances are safe...I'm comfortable but don't do risky.

That’s great thanks for sharing. I was merely answering your question WRT not knowing how exchanges work for various assets/commodities

 

[BillyZane]

I'm willing to put my money where my mouth is. If you're still doubtful of bitcoin I will give you $10 worth of BTC. Hopefully once you have some skin in the game you'll be more motivated to learn about it, and if bitcoin were to crash and burn tomorrow then, oh well, it didn't cost you anything, right?

I will transfer through Shakepay, since they offer no-fee transfers and the verification process is much quicker than Newton (1 hour vs over a week in my case).

You'll need to sign up through this referral link and then complete the verification process: https://shakepay.me/r/3LZNLLG This is so I can track a legit new sign-up vs. people who already have accounts and to prevent people claiming the reward multiple times through different unverified accounts.

Once you've been verified, send me a private message with your Shaketag. I will verify the new sign-up on my end and send you $10 worth of BTC.

 

[Jasmina]

I am psyched for Ethereum, hoping it tops its projected gains even more in 2021!

So you posted in November, look at all the gains you missed out on. You know how many hour sessions with SPs I booked because “hey, I made another 5 grand off bitcoin today “

Bitcoin was announced the best performing asset of 2010-2020

I reckon it will also be the best performing asset of 2020-2030 too. 2021 is going to be a crazy year, BTC, ethereum, Decentralized-finance (DeFi) all going to explode!

Buy in, strap in, and enjoy the ride my friend