|
|
Post by Oatking on Jan 9, 2021 21:00:26 GMT -6
Wanted to start a conversation about what the folks on here think of investing in bitcoins. Looks like it is here to stay and is gaining traction in asia countries concerned about the value of their own currency.
With the economy struggling in north america is this something that needs a second look? I am Always a gold, silver or land investor type of guy but this is getting interesting.
What do you think?
|
|
|
|
Post by Beerwiser on Jan 9, 2021 21:36:45 GMT -6
God only made so much land and I will leave it at that.
|
|
|
|
Post by cptusa on Jan 10, 2021 8:38:51 GMT -6
I thought about buying bitcoin when it tanked this spring to $3-4k but did not. Looking back it would have been a sweet return.
My problem is I can walk on land, I can hold gold and silver. I can lay dollars on the ground and roll around naked on them. A bitcoin is just computer code created out of thin air. Maybe it's the future but I'll stay with physical assets for now.
Bitcoin may go considerably higher and I understand you can buy fractional bitcoin but right now at $39k+ that's high price poker.
All that said I do vaguely follow bitcoin and the dow for fun, no sure if they are good economic indicators as the dow once was but they just intrigue me.
|
|
|
|
Post by cptusa on Jan 10, 2021 9:02:41 GMT -6
|
|
|
|
Bitcoins
Jan 10, 2021 9:46:58 GMT -6
via mobile
Post by slipclutch on Jan 10, 2021 9:46:58 GMT -6
For 1.572 M. The tax’s are cheep. Looking at the land map. The land is sure divided some what.
|
|
|
|
Post by kenmb on Jan 10, 2021 10:42:17 GMT -6
Back around 2016 I started buying some metals. As I recall, btc was around $500 then. And I was very close to putting $3000 into some. The two things that resulted in me not buying was
1) the transaction was not too simple, I had to do some leg work to get an account, wallet, etc
2) the reason for not buying stocks was I wanted something tangible, and btc actually wasn't that
As I often say, I dont want to discourage someone from a speculative move. Buying penny stocks is no different. I consider btc a speculive move, not an asset. Remember that btc is a crypto currency that stopped operating under any pretense of a currency a number of years ago. Now its claim is its a store of value. So be wary of how its narrative has changed.
Who right now is buying material with their btc currency when that currency may double in value in 6 months. That $20,000 car you bought with it, you could have bought two of in 6 months.
So that is the buyer side of the equation. Easily understood right now.
What about btc dropping in value. You are a used car salesman who bought a used car for one btc at $20,000. Now btc is $10,000 and therefore that car lost 1/2 its value just sitting on the lot. How long will you stay in business like this?
This is crypto currency in a nutshell. Not only do you have to manage your business, you now need to be an expert on market trends of the currency you are using to know if you will be bankrupt in 6 months or rich, or not a good idea to buy or sell something this month.
Ok, so now, here is where I am going with all this.
Consider once more you are running a business with a currency that changes in value, sometimes rapidly. Can you do it? I know I can't.
That means to me, a crypto currency can not function in my life. It can't. Anyone telling you otherwise is scamming you. It's why btc does not operate as a crypto currency. It also means no other crypto currencies can.
Cryptos:
1) created from nothing
2) backed by nothing
3) regulated by nothing
Points 2 and 3 tell you the future. If I can't run my business using a current crypto currency offering. What is the future? I would say regulation and backing to create a stable value is what the future is.
Will btc ever have that? Or will someone else be the one to introduce a digital currency with stability? And if that currency then operates as a currency, where does that leave btc and all other crypto currencies for their future use and value.
This is my reasoning when I say btc is a psyo-op to condition people to understand its existence, and perhaps to show people the eventual short falls.
|
|
|
|
Post by cptusa on Jan 10, 2021 11:07:07 GMT -6
For 1.572 M. The tax’s are cheep. Looking at the land map. The land is sure divided some what. Really for this county that is a fairly consolidated map. Typical Iowa map is probably less consolidated. |
|
|
|
Post by SWMan on Jan 10, 2021 12:50:03 GMT -6
Hard assets. If you can't have it in your possession then don't buy it. If it's controlled or regulated by a government/bank then it doesn't qualify either. Property is the only exception but my guess it property taxes will become burdensome down the road as well. Farmland isn't a buy right now at all unless you have zero debt. My opinion, worth what you paid for it...lol
|
|
|
|
Post by kenmb on Jan 10, 2021 18:05:36 GMT -6
I was going through the 4chan link I put in the Trump thread and found this. It's an interesting angle on btc. There is a lot of intelligent posts that go on 4chan, and is why it is so heavily attacked by many. Ideas are dangerous. I haven't looked at a 4chan post for months so not saying this is the smartest thing I have read recently, I just find it an interesting possibility. I noticed cryptos were down tonight a bit. That's not saying much, but suppose tomorrow shows something else.
01/10/21(Sun)07:03:52 No.301711651▶>>301712522 >>301716400
>>301694911 (OP) #
Interesting. Here's my take on it.
1. China uses BTC as an untraceable means of shifting USD into the country while shipping out worthless (in terms of its value to them) crypto.
2. China sets up dummy companies to siphon money through the stock market - using blackmail on investment bankers and the like to pump up the stock price, which they then sell and convert into BTC to ship to China, bypassing the SWIFT system (which would regulate transactions over $10k). It doesn't matter what the price of the stock is - all that matters is that these people keep buying the stock every month. Another person who is also blackmailed then sells the stock, converts it to BTC and sends the coins to China.
3. One of the people who is in this scam is Pelosi. Another is Biden. Both the Pelosi laptop and the Hunter Biden laptop prove that they have been in collusion with the CCP - with transaction details showing the scam. They alternate who buys and who sells and more importantly, which stock they are going to use for the transaction every month.
4. With the flow of convertible BTC/USD now cut off, the mythical financial reserves of China grind to a halt - hence why Pompeo has now told the chinks to get f*cked when it comes to Taiwan. He knows that they don't have the power to do a damned thing about it, because their supply has been cut off.
5. So what do the chinks do? Start releasing bits and pieces of the blackmail to tell them that just because their little scheme to defraud investors out of money has come to an end, doesn't mean that they are off the hook when it comes to sending them money. Hence why all the Chinese stocks that weren't included on the ban list popped on Friday, as blackmailed individuals sold out of the stock that was tied to the EO and moved into ones that were not.
6. Trump's final play is for the EO on Election Interference to be enacted sometime this week. Then the blackmail floodgates will open.
|
|
|
|
Post by Beerwiser on Jan 10, 2021 20:25:58 GMT -6
CptUsa, there is a reason I said I would leave it at that. Need money to go any further lol. I thought about stocks and investments, but it is not for me. I think there is enough risk in what I am doing, I really don't want anymore. Yeah it is tempting, but there is no such thing as easy money IMO.
|
|
|
|
Post by kenmb on Jan 10, 2021 21:48:48 GMT -6
Interesting night for btc so far.
|
|
|
|
Post by kenmb on Jan 11, 2021 10:47:04 GMT -6
As I say, it is right in your face what the "value" of crypto currencies are.
Yes, btc can bounce up and you can become rich buying now. But understand you are speculating, this is penny stock style investing and trade acccordingly. Anyone who says btc is a store of value because this technology is the way of the future and will be how commerce will be conducted is an idiot. I can not run my farm with a currency that operates like this and therefore its value is $0. Created from nothing, backed by nothing, regulated nothing, and in infinite supply.
And yes, bitcoin is in infinite supply. Because its software exactly like the 4000 or so other crypto currencies and 10s of 1000s left to come that all are better than the last and therefore an innumerable amount that will indeed be better than bitcoin.
So one can speculate here and perhaps make dollars. You just need to anticipate what the idiots are going to do so you can get in or out at the right times. Used to be speculation and investment was based on intelligence and being smart. Betting on what idiots are going to do seems the opposite of what smart investing should be.
I still like precious metals right now. The drop last night has me interested. At some point the 200:1 or whatever ratio of paper to physical could be sold that drives the price to the floor as paper is sold yet the metal can be impossible to get because those who sold paper are buying up physical on the cheap. Its an interesting quirk to how our free market system built for price discovery works. It seems the opposite of price discovery should paper contracts are sold to buy physical. But that is why we always talk of holding the actual metal, not paper representations of it. You will always hold an asset regardless of what the digits behind the $ say.
The next thing to do is guess what the $us may do. For me in Canada, this effects what buying metals actually cost me. Even though metals may drop lower, if the Canadian $ drops faster then it costs me more. But that is the often overlooked part of holding metals is that historically they protect one from currency devaluation via inflation and that is not shown in the price per oz charts. I have gone into that in the past so wont now. But it is what makes a gold coin in your hand an asset, regardless of what others say.
|
|
|
|
Post by Oatking on Jan 11, 2021 17:12:54 GMT -6
Do You think Btc are part of trudeaus flashy new economic plan for Canada. Weed is probably a more sound investment since a democratic U.S government will push for legal weed across the U.S.
Thought it was interesting when i heard Analysists pointing to Btc reaching 100 000 by years end. One would think , if btc are in infinite supply what actually backs them up.
Maybe more than ever precious metals or land will be a safe bet.
|
|
|
|
Post by kenmb on Jan 12, 2021 7:56:22 GMT -6
Bitcoin can certainly go to $100,000. But it's value is $0. Where as land always has a value because you can do something with it. Women like gold jewelry, so even a gold coin can get melted down into a shinny thing and worn on the ears and some women will love it. And some men will see great value in a woman loving that shinny thing. Those bits of software worth $0 don't have much other use if their value is zero.
So, the point is whether I am wrong to say it's value is $0. It is actually $35,000 US. How can it be.
So again, we come back to the idea of real value vs fake value. SWMan gets it, I know others do, perhaps someone else needs to word it differently.
Crypto currencies as they stand have a value of $0. But you can trade crypto currency and make $1000 into $10,000 if you trade right. But the value still remains $0. Because I am trying to link currency ($) to an asset as if they are the same thing. Software is not an asset. Not as it stands today.
Until a crypto currency is backed by something so it becomes a stable unit of exchange, it will be worthless. Because I can not run a businesses with a digital currency that changes 10% in a week. I can't. Therefore any currency that does that is worthless.
And so btc hits $100,000 and the the Central Bank says it can't use bitcoin because transactions take hours to complete. So it rolls out Canada Coin as its crypto currency. Backed by the Bank of Canada. Stabilized by control of its issuance, insurance it can't be hacked, regulated by a body that says no other electronic currency is accepted for transactions in Canada.
So, the people now have bitcoin to choose from and Canada Coin. Bitcoin is worth $100,000, Canada Coin worth $1. Which do people use? And if they stop using bitcoin because you can not transact with it in Canada, why are you holding it. Because it is worth $100,000. But besides that, what is its value (usefulness).
Yes, bitcoin can go to $100,000. But what is happening right now is saying it's present value (usefulness) and future value (usefulness) puts it as worthless.
Speculate accordingly. Purchase assets accordingly. Invest accordingly.
|
|
ddf
New Member
Posts: 18
Likes: 14
|
Post by ddf on Jan 12, 2021 8:14:39 GMT -6
Do You think Btc are part of trudeaus flashy new economic plan for Canada. Weed is probably a more sound investment since a democratic U.S government will push for legal weed across the U.S. Thought it was interesting when i heard Analysists pointing to Btc reaching 100 000 by years end. One would think , if btc are in infinite supply what actually backs them up. Maybe more than ever precious metals or land will be a safe bet. I think something that is part of the new economic plan for both our and the newly elected American socialist parties is “the great reset”. It is scary stuff. There are theories that this reset could make land a terrible investment. The reset certainly seems unlikely, and the details of it are murky which leaves it open for much interpretation. But it is concerning how many things are lining up to possibly make it a reality. |
|
