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Let me know how that works out once asteroid mining is in full swing.Except for physical precious metals like gold, silver, platinum. They have intrinsic value and always will.
Let me know how that works out once asteroid mining is in full swing.Except for physical precious metals like gold, silver, platinum. They have intrinsic value and always will.
Let me know how that works out once asteroid mining is in full swing.
On the second point, that's always possible. See the chart below. However, I would personally never risk BUYING Bitcoins. My facepalm is from not generating them from nothing when I first read of them at a very early point in their history.
I have a friend (actually two) that tried to get me to buy Bitcoin. Knowing what I know now about the sky high value I wish had done it, but I can say the same for buying any number of stocks like Microsoft, Amazon and so on. What I need is a Delorean time machine! The number of places now accepting Bitcoin has risen considerably as well. Even precious metal sites often accept them as payment. I was reading a page about that just yesterday which listed a number of such sites. One I remember was SchiffGold which seems surprising considering Peter Schiff's views on Bitcoin. They even have a nice page on how to buy gold and silver with Bitcoin here https://schiffgold.com/buy/buying-gold-silver-bitcoin/ which also does a good job mentioning The Fed and its effects on fiat currency. I wish I could remember the other sites. Well, one definitely was JMBulion, the rest, not sure, but precious metal dealers that accept it are definitely growing in numbers.
I'll honestly be curious to see what happens with this. More interesting will be the impact a crash of Bitcoin will have on other cryptocurrencies.
Very, very interesting read...
As always, and a hundred times before it makes me want to do something / invest...
And as always the better things are the more you want to invest,,
and the better things are the worse time it is to invest..........
No matter what you're interested in investing in,, not just bitcoin...
How do you stop this cycle ???
Teddy
Only invest in things you understand reasonably well, otherwise low-fee mutual funds ( which are boring but steady ).
If you don't know how to play, stay out of the game. With the exception of Vanguard, this includes leaving your money under the control of hedge funds, mutual funds, financial advisors, brokers, et al.
"Investing" in something like this is more akin to gambling, and I've heard that you should never gamble more than you can afford to lose.
Similarly, know when to get out. If you get greedy you will eventually lose.
As mentioned in earlier posts, there are other forms of digital currency that are not yet as inflated, not yet as volatile as BitCoin. A person could put $100 into something like Ethereum or Litecoin, and just leave it alone for a few years to see what happens.
Every time I see a post about how bitcoin prices are going crazy, I think of this:
picture found on the "buttcoinfoundation.com" website.
You should look into what can be purchased and how you can spend or convert bitcoins into traditional currency. At best you will be a bit more positive and surprised, at worst you will realize that your perception is completely incorrect.How many Tulip Bulbs can one buy with a Bitcoin?
You should look into what can be purchased and how you can spend or convert bitcoins into traditional currency. At best you will be a bit more positive and surprised, at worst you will realize that your perception is completely incorrect.
Hmmm. I thought the tulip comment was a pretty insightful. If you cash out before the bubble bursts you can do well. However, like other speculative bubbles, you can lose everything. In of itself, Bitcoin has no intrinsic value - like many other things in life it's only worth what someone else is willing to pay for it.
While I agree with your philosophy about "worth", I would suggest that it applies right across the board, with anything and everything.
Look I am not trying to change anyone's mind, however I keep reading comments that are either based on not many facts or simply fear mongering. Of the people that have commented on how easy it is or isn't to cash-out or spend Bitcoins, how many of them have actually tried to do this.
You should look into what can be purchased and how you can spend or convert bitcoins into traditional currency. At best you will be a bit more positive and surprised, at worst you will realize that your perception is completely incorrect.
There are some sovereign nations toying with crypto-currencies, and even well established firms that have done very well with banknote printing equipment are looking at how to stay relevant if crypto-currencies take hold. Time will tell which, and how many forms of crypto-currencies will establish themselves, and how many people may suffer a few financial bumps and bruises along the way.
Michael,
Blockchain is something I know a little something about. It happens to be in the domain of my day job. I am neither positive or negative. If you knew what I know you might be surprised also...... :wink: