Bitcoin touched 80k, it will hit $100,000 this year. An easy way to make 25% return on your money by year's end is to buy IBIT, which is an etf that tracks the price of bitcoin.
That’s quite possible, Pussylicker2. I’d put those odds at 50/50. With Bitcoin now holding the #1 spot in the list of hard, sound monies, and with Larry Fink finally on board, a lot of pension funds, institutions, sovereign wealth funds, etc. are starting to allocate. It’s ultimately going up forever.
But, some outspoken people on this website will continue to spread nonsense in regard to Bitcoin, or arguments that sound significant but are actually quite trivial. Like Icey’s argument that “it’s only worth what somebody will pay for it.”
You can try to help these people by using logic and reason, but some people can’t listen to reason. They have to figure it out for themselves, and that means getting past their emotions as well as their false beliefs and preconceived notions. Some of these people are going to wait until they see Bitcoin-denominated price tags in every Wal-Mart, every 7-Eleven, every yard sale, and every strip club.
To sort of quote the tall guy that stepped out of the small car that Nelson Muntz laughed at on The Simpsons: "I don't understand cryptocurrency. Am I therefore to be made fun of?"
Obviously, the answer is yes. I am to be made fun of. That's OK.
All the people that invested in FTT (Sam BF's cryptocurrency), without understanding it, ended up sort of like Nelson Muntz. Walking down main street with their pants around their ankles while the masses laughed and cheered.
All I am saying is, if you don't understand cryptocurrency, you're not alone. And if you don't understand it, you probably shouldn't invest in it.
My fundamental problem with Bitcoin, is that when I first heard about it, it was introduced as a currency. To me, the goal of a currency is to have a stable value. So I do not understand investing in a currency in speculation that it will go up.
As always: "Past performance is not indicative of future trends."
People who don't understand bitcoin don't understand money. Bitcoin traded for under 10 cents 15 years ago. In 15 years bitcoin has doubled 15 times. Gold has doubled about 7-8 times in the last hundred years. It's simple, the supply of gold has increased only a little in 100 years, whereas the supply of dollars has increased bigly. Right now there are 19,000,000 bitcoins, and the maximum there will ever be is 21,000,000. But, some of those bitcoins are lost, and more continue to get lost. I don't care if you buy bitcoin or not. But, in less than 10 years it will be over a million.
@Rightfield, that's really beside the point, don't you think? One doesn't necessarily need to understand money at a fundamental level, and in all of its aspects, in order to acquire it. Similarly, I don't need to understand the details of all the components of cars, and internal combustion engines, in order to acquire and collect cars. I don't need to be a physicist/chemist/mineralogist/materials engineer/jeweler in order to acquire and collect gold and silver coins. I don't need to be a meteorologist/crystallographer to collect snow into a snowball.
@FTS, I think your analogies are a little off. Let's take cars. You don't need to know all the details to collect cars. You do have to know some fundamental things. Like whether to collect Duesenbergs, or rust bucket Plymouth Volares from the 1970s.
Or this. Say you are in Mexico and want to take the opportunity to buy a Cuban cigar. If you don't know anything about Cuban cigars, what are the odds you are going to end up with the genuine article?
If you are buying firewood, do you want hard wood, or soft wood? Eh, it all burns, I guess.
I have stayed away from bitcoin both because I don't fully understand it, and because I've sensed and seen "scam" all over it, as evidenced by the many stories of people being defrauded and losing their money.
However, there is a good argument that bitcoin might do well in the near term, as Trump is pro-crypto and his family has a personal stake in it. Just watch how the wealthy and connected are going to make out like bandits in the years ahead.
Suppose the democrats had been successful in stealing the 2024 election. Then, suppose they decided to give a million dollars to every black person in America. That would add about 40 trillion dollars to the national debt. Do you really think the 401k you've contributed to all these years will be enough for you to get by? Hyperinflation has destroyed the currency of several countries. But, it can never destroy the value of bitcoin, which is the main reason Satoshi Nakamoto invented it.
I don’t understand how Bitcoin is so bewildering to some people. It’s just hard money. It’s digital money that can’t be debased. That’s pretty much it. When you use it, it’s basically the same as Venmo. It really shouldn’t be surprising that Bitcoin is going up right now, it did the exact same thing 4 year ago, and 4 years before that.
So why is Satoshi Nakamoto such an elusive figure? Jeff Bezos and Elon Musk are billionaires not afraid of being known.
And Bitcoin is a currency, but it's an investment?
And my retirement reserve is going to be rendered worthless because of reparations or something?
I admire what Will Rogers said: "Invest in land. They ain't makin' any more." And you don't have to depend on any Wizard of Oz to enforce that mandate.
Satoshi Nakamoto is elusive. He owns (perhaps) a million bitcoin, so he's worth 80 billion? It's dangerous having so much money, so he stays under the radar.
You have to pay to own land. It's very easy to take land away from you. Gold is heavily counterfeited, and it's easy to steal.
Digital currency is just money? Yup, just like the United States dollar it is backed by the full faith and credit......oh yeah, that's right, its money because people say it is. When people say it isn't the value will be zero.
@skibum, you are not demonstrating any proper knowledge of the concept of currency "backing," you're just repeating the talking points of Keynesian apologists. What does it mean that US currency is "backed" by the "full faith and credit" of the US currency? Can I go to the Federal Reserve and redeem my US currency for some bits of "faith and credit?" No, I'm really sorry, but you don't know what you're talking about.
P.S. Bitcoin is legal tender of a sovereign nation, like the Mexican Peso, the Egyptian Pound, the Czech Koruna, etc.
I guess it's smart to ignore my question for a use case when there is none and just focus on the price where you think it benefits you. But there's been bubbles before; South sea company, tulip mania, beanie babies.
Focus on use cases which bitcoin has none which is why bitcoin cultists ignore that question.
"No one cares about the technology they just care about they can do with it. Which is nothing."
^^ Name a use case for the US currency in your bank account, other than using it as a medium of exchange. Tell me about its industrial uses. How is it used in manufacturing?
I can use Bitcoin as a medium of exchange exactly the same way that US currency is used--by sending it over an electronic telecommunications network. A significant difference is that Bitcoin is a nascent currency with comparatively little acceptance, but that's a circumstantial difference rather than a fundamental difference. If half of Africa decided to use Bitcoin to economically liberate themselves from their French masters then the circumstances would be totally different.
Your use case is just use it as a currency? The blockchain can't handle all the transactions to be used as the world's currency. Plus the associated fee for the sender makes using the traditional financial system much better.
@2LeggedChair, you don't know what you're talking about. If you don't know what this is --> (https://mempool.space/graphs/lightning/n…) then you really shouldn't be commenting on the quality of the technology as if you're an expert. Please stop pretending to be an expert.
US currency has been honored for hundreds of years. You Bitcoin fellas remind me of the stock market geniuses of 1929, who ended up doing a dry dive when their huge stock portfolios, worth millions, disappeared overnight. When that happens with bitcoin ....., we shall see what we shall see FTS. Your Bitcoin will be worth as much here in the future as it is now in Gaza.
I didn't want to mention LN due to fear of getting too technical, but for those who don't know what it is its been around for a pretty long time and its fee structure is still many times more expensive than traditional banking.
"When the Lightning Network was integrated in 2018, expectations for reduced costs and faster transactions were high among users—but as the graph below shows, average Bitcoin transaction fees increased."
Direct quote from the article. I was also in the space when it happened.
^^ yea, they denominated the fees in US dollars. I wonder why the fees have increased... *rolls eyes*
You probably shouldn't be using investopedia as a technical guide. That's only marginally better than the articles written by journalists who don't do any research.
^ nobody has to take my word for it. All the technical information is online and available, the source code is free and open-source, and the apps are free. Everybody does their own research, and I'll continue to point out the inadequacy of the sources that people use.
The fees, denominated in Bitcoin, hit an all-time LOW just about a month ago.
I’ve traded Bitcoin in the past, made a few quick bucks, but that’s typical of Ponzi schemes , there’s nothing backing it up, all of your research is flawed because the anonymity is the key to running a pyramid scam.
Fiat comes from the Latin word for trust, and our U. S. Treasury issued currency is backed by the full faith and trust in the U. S. Government, as long as the government is here the money is good. On the other hand your faith in bitcoins is backed up only by your faith and trust in some anonymous guy called Satoshi Nakamoto, whom nobody knows if he’s even a real person.
So someone could steal my land? I daresay if someone did, I could go find him and get him by the throat. Where would I go to look up someone who stole my Bitcoin?
^^ mostly false, fiat is a latin word meaning "be done" or "let it be done," usually used as an authoritative command. It's a third-person singular present active subjunctive form of the verb fieri, meaning "to become" or "to happen." You have to go back to the hypothetical and reconstructed Proto-Indo-European language before you find an ancestral root word connecting "fiat" to "fiducia" or "fides" (the latin words for "trust" or "faith").
"backed" by the full faith and trust of the US government doesn't mean anything. The US dollar has already depreciated 99% since the Federal Reserve act of 1913, and that's according to their own statistics. So, by your understanding, the US government must be 99% gone since 1913?? LOL.
There have been several instances in which a fiat currency has completely failed (hyper inflated) while the government remained the same. So, you just pulled "as long as the government is here the money is good" right out of your a$$.
It really seems like you're trying hard to demonstrate that you don't understand currency "backing"--what it means, and what its purpose is.
^^ no I'm absolutely NOT trying to sell anything (except my US dollars)! lol. I'm just telling you how it is, because there's a lot of misunderstanding. I'm still buying.
The use of fiat money is based on trust that the central bank will guarantee its value over time (price stability). That is why it is called fiat (from the Latin fiducia, which means trust).
Rightfield- yes, if you don't pay your taxes, or you get a judgement against you, they can and do take your land. No one can take your bitcoin unless you give them the key. If someone makes you give them your keys, the transactions are on a public ledger.
^ you don’t have to trust the government or anything else, if it’s a public record it’s harder to hide from, all this secrecy I don’t have an interest in doing business on your terms, I want to know what I’m buying and from whom. The idea of bitcoin is at odds with capitalism it’s more on the order of trust me cause I say so.
"That is why it is called fiat (from the Latin fiducia, which means trust)." ^^ false. the Latin word fiat does not come from the Latin word fiducia. That doesn't even make sense. That's like say the phrase "let it be," in English, is actually derived from the other English word "trust." That's not how linguistic derivation works.
"the central bank will guarantee its value over time (price stability). "
^^ the central bank cannot guarantee value, nor can it guarantee stability. All they can do is adjust interest rates (Communistic price-setting) and buy bonds (print money, i.e. devalue the currency).
You do not have a proper understanding of the concept of value. I'm sorry.
@ FTS Like I told someone else yesterday there’s this thing called Google, you can get word origins and so much more information by learning to use it Etymology of fiat it’s there don’t need to take my word for it
@rightfield - no, i haven't had a chance to click that link. I've spent time on bitcoin forums, and it's been agreed that to argue with non-believers is fruitless. The point of my post was to point out an opportunity to make money. I made more money today than I ever made in a year when working. No, I'm not lying, I'm actually a little embarrassed about it. I wish the best to all of you! And bitcoin is at $88,500.
Which is more of an incel hobby, painting Dungeons and Dragons figurines, or trying to jack up one's investments and prove each other wrong on a strip club message board?
1. That link has nothing to do with etymology or the meaning of these latin words.
2. fiat currency and fiduciary currency are definitely similar, but there is a subtle difference. Not all fiduciary currency is/was fiat currency. For instance, during the free-banking era of the United States, banks were free to issue their own banknotes which were usually redeemable for gold (which is what is actually meant by a "backed" currency---the banknote was just a substitute for the desired money, which was gold). These banknotes were not fiat currency (not declared as legal tender by the government) but they WERE fiduciary currencies because they relied upon the trust from the customer that they can freely exchange the banknote for a fixed weight of gold. Nowadays, however, our currency is not backed by anything---the "full faith and credit" of the government is meaningless, especially when the government has demonstrated that they are NOT TRUSTWORTHY! That's why our currency is typically just referred to as "fiat," because it's just a database entry that is declared to be money by recognized authority. There isn't really any trust involved; I'm not trusting that they'll keep my gold safe for me, and that I can get it back whenever I want it back.
3. These are all moot points, but it's quite typical of how these arguments go. I make a correction to a misunderstanding, and the other person shifts the goalpost. You tried to argue that the latin word "fiat" is actually derived from another latin word, "fiducia." That's NOT correct.
4. You would do well to learn some history on this subject. There's plenty of historical records that conclusively demonstrate that governments pretty much ALWAYS debase and devalue the currency, for their benefit and to the detriment of their citizens. Why do you think we use the word "debasement," in this context? There are no metals being used in our exchanges anymore, but the phrase "debasement" is still used because that's how governments, historically, caused the inflation of prices, thereby depriving the citizens of their hard-earned incomes---they would switch out the core of the precious metal coins with a base metal and then put it back into circulation.
@fts - thank you for your contribution! Like I said, regardless of your political or religious beliefs, I just want to point out an great investment opportunity. Everyone since Trump was declared the winner and next president; TSLA has made massive gains, it's now at $357. It's going straight to $1,000. DJT has made big gains, it's at $33, gount to $100. Bitcoin is up bigly, at $88,000, going to $100k. I plan on using a lot of my gains to provide financial support to women in need who are willing to provide pleasure to an old man, me!
@rightfield- I read the article. It looks like bitcoin was about $3,000 when this happened. It seems to show that you can't steal bitcoin. Yes, if my brokerage account, or my bank account get hacked my money can be stolen.
All this yapping and bitcoin still has no uses. The only one you listed is defunct and has been since 2018. The price is from pure speculation and a talented although unscrupulous marketing campaign.
Once (if) people start using bitcoin for its intended purpose they will see how deeply flawed the technology is and abandon it.
^^ wrong. People use Bitcoin as medium of exchange for goods and services all the time. People like to post videos of it on Twitter. It's obviously not common in the United States, so you're not going to see it if you don't look for it, but in some parts of the world there are something like 50% of the local merchants accepting Bitcoin.
All that confidence, without sufficient knowledge. SMH.
I'm an American i have access to cheap quick payment services so I have zero reason to adopt bitcoin.
I do feel bad for those people in other countries who use bitcoin, they'd be much better off using traditional payment methods. I looked up a transaction fee for bitcoin and its at $2.77. The lightning network fee now is 4 cents but its volatile and could go as high as a regular bitcoin transaction. I feel so sorry for those using it (if they actually are i would assume most people in third world countries couldn't stomach those high fees) i do know bitcoin marketers have a habit of stretching the truth.
^^ you feel sorry for people paying 4¢ transaction fees whilst their money appreciates at an average annual rate of approx 40%? Are you dumb? You don’t feel sorry for the Argentinians whose fiat currency DEPRECIATES by over 100% per year? You think they should continue to save and transact in the Argentine Peso because their bank doesn’t charge them any fees?? LOL. Good lord, and you think I’m deluded…
P.S. a lot of those people in third-world countries are using custodial Lightning wallets like Wallet Of Satoshi or Strike, which is admittedly not ideal, but the tx fees are usually 1¢ or less using these highly connected Lightning nodes.
I actually moved some of my money around just last night, from my self-custodied Lightning Node… I just checked, the fee was 0 sats.
People in third world countries are spending all of their money as soon as they get it. Any compensation they would receive in bitcoin would be adjusted for the fact that bitcoin's price fluctuates. Ironically due to that reason bitcoin increasing in value has little benefit to them, but wealthy westerners do get alot of benefits from it.
I do think you're deluded in thinking bitcoin is good for third world countries for the reasons I listed above.
@FTS It’s tiresome you have the right to say anything you like, so honestly IDGAF I see you shilling for bitcoin, you can deny it till the cows come home, doesn’t mean much to me and most folks with actual experience. As far as defining FIAT, I have seen many different things and you can split hairs over meaningless trivia, that just misdirection on your part an attempt to deceive, it may work sometimes but I see it for what it is. I really don’t care what anyone else does, but if you’re so sure you’re right put your money where your mouth is, come out of hiding behind an anonymous “nom de plume” and show us the evidence. Peace
"an attempt to deceive" ^^ show me my attempt at deception, motherfucker. How dare you. Here I am trying to TEACH, to CORRECT people's misunderstanding, and you accuse me of deception? Fuck you. You can say I'm shilling Bitcoin, but I hardly ever actually give direct recommendations to buy Bitcoin. People should do whatever they want, I'm not their financial advisor. I'm just telling it how it is--fiat currency is just a number in a privileged computer database, there is no limit to the amount they can produce. That's straight from the horses mouth, so to speak.
"show us the evidence." ^^ show us your social security card, driver's license, and most recent bank statements and 401k statements, as well as a video recording of you, with your face clearly visible, holding these documents and verbally referring to this TUSCL conversation. If you do that then I'll show cryptographic proof of my largest Bitcoin holding (one address).
I have in the past used Bitcoin to purchase a few goods and services, but not recently. To this day I frequently use a crypto called Dash to pay for meals and hotels. There was an app which made this ultra convenient, but the banks put pressure on the company to force them to withdraw it, so nowadays it has to be done by purchasing a virtual gift card - because of course most merchants still don't accept crypto and hold it. Dash's technology is excellent for commerce (instant confirmations with ChainLocks) and the fees are negligible. Couldn't you do the same with a credit card, even more conveniently? Of course. The point for some of us is to cut out the banks, the Fed, and the government. I'd rather see merchant adoption go up than coin price.
Yes, please 25IQ, dox yourself. You are a keyboard coward who talk tough on the computer and accuses others of the same. You are a weak, decrepit old man with no life, no friends, no real retirement to speak of. Your whole retirement is some fabulist tale that is easily dispelled with even the most cursory examination. This -TUSCL and your fake persona- is the only thing you have in your life. It is so important to you, so all-consuming, that "beyond pathetic" does not come close to describing how beneath contempt you are.
You need to learn to live and let live. Shut your hole, spout your fantasies, and let others do the same. Or go play in the street. As you say, IDGAF.
Do not invest in bitcoin unless your networth is above 250k. If you do want to invest in it keep your position in it below 1% your networth, although I recommend staying away from it due to no use cases even after more than a decade since invention.
^^ Tell me the use case of those digital dollars in your bank account. Show me the manufacturing plant that uses digital dollars as an intermediate good.
I don't care if anyone buys bitcoin or not. But, gold and silver were the medium of trade for thousands of years. Today gold eagles have no use other than a store of value. I bought some gold eagles in '99 for about $350 each. Now they're worth about $2,600. They've almost doubled 3 times in 25 years. Bitcoin has doubled about 20 times in 14 years. Everyone who has income that is taxable should have a roth ira with Bitcoin. At least that's my opinion, as bitcoin flirts with 90k.
Lots of bitcoin believers think it's going to a million (as I do), and won't sell. They HODL (hold on for dear life). Bitcoin crashes after it runs up, I'm guessing it hits 150k next year and crashes to 90k. But of course I don't know. Ever since the election I've had huge returns.
You got the “cheap” part right; US dollars are very, very cheap… regardless of denomination. Marginal cost to produce a $100 note is about 7¢.
“Full backing” of a government that says it’s valuable, just because, is meaningless. You guys have such a poor understanding of the purpose of currency “backing.”
I had dinner with my Bitcoin buddies last night, about 8 people. We settled up in Bitcoin, over the Lightning network. Instantaneous and virtually free (less than 1¢).
Why do people insist on making false statements when they’re shown to be incorrect? SMH.
Using your own figures you just listed let's do some math.
The average monthly wage in Nigeria (using Nigeria as an example because you mentioned Africa using bitcoin to free itself of French influence) is the equivalent to $43.19 USD. Assuming they have 40(low estimate) transactions a month they would pay 40 cents a month in LN fees.
That proportionally is the equivalent of someone making 50k USD in America paying $463 a year in transaction fees.
Using your own examples bitcoin is absolutely not cheap.
^^ you didn’t account for the depreciation of the Naira. Bitcoin, priced in Naira, is up 4792% in the last 5 years. So, assuming a savings of 6 months’ salary (equivalent to $258) held in BTC, that’s a total appreciation of $12,363 vs the 40¢ x 12 x 5 = $40.
Spend $40 in fees, and realize an appreciation of $12,363. Yea, Bitcoin is so expensive… /S
I can tell by the way that you are focusing on this minute detail about fees that you are totally missing the forest and instead focusing on this tiny little twig.
The minute details are very important, especially when talking financial policies!
I know that saving any sort of salary for a Nigerian worker is completely impossible, hell do you think an American worker making 50k can save 25k? It's easy to type out but it's just not feasible. Combine it with the fact this Nigerian would need a device plus internet capable of using LN and buying bitcoin. They'd also need a bank to connect a bank account and deposit money to buy the bitcoin. Its just a silly thought to say an average Nigerian can even save 6 months salary or have the capabilities to use LN with their infrastructure.
Whether or not bitcoin tanks is irrelevant. It has zero uses 15 years after invention. I'm ready to call it a useless technology held up purely by speculation.
The first twitter dude Ekasi you listed tweeted that 2 years ago,and if you look at the screens the fees are pretty massive, even 3 cents for an average Nigerian for one transaction is huge per the math I listed above. I feel like they actually help my case oddly enough. Combine it with the fact that you'd need internet and a smart phone, which 27% of Nigerians have.
That stock you listed (ticker $STI on the NY exchange LOL) is down 96% in the last year.
The nano thing is a chinese b2b company which again would have zero uses for the consumer. Its been 15 years since bitcoin was introduced to the world and still no uses! The links you posted further proof how niche and limited it is. These aren't hard hitting major companies they're companies grasping for survival.
I could say the same thing regarding your faith in bitcoin. Bitcoin was released in 2009 and it still isn't feasible for use for the average consumer to use it since there's so many faster cheaper and safer options. Price movements are pure speculation.
I wish you the best of luck as well, have fun out there!
It's riding a "Trump high" right now. At some point that will fade, at least in the short- to medium-term. Longer-term it might increase as the fed is addicted to printing money, but regulators could crack down on it and drive it to zero. Highly speculative.
^^ no, that's ridiculous. This hard money is held by hundreds of millions of people worldwide, it's in the treasuries of public corporations, held in the personal accounts of millionaires and billionaires, held in pension funds, held in the BEST PERFORMING ETF IN HISTORY (IBIT), it might even be held by the US government as a strategic reserve. Oh, and it's the legal tender of a sovereign nation and people really do use it as a medium of exchange. I even heard that you can use Bitcoin to pay for a subscription to an Internet forum dedicated to reviewing strip clubs... The Ultimate something something something... I forget what it's called. So, no, it's extremely improbable that Bitcoin goes to zero.
But... I suppose a meteor might strike the Earth and wipe out 99.9% of the population. Bitcoin might go to zero in that scenario. *shrug*
Best performing etf in history is about as impressive as being the tallest person in first grade. The more people bleat about their money, the less they have. The bitcoin butt buddy sounds just like all the assholes bleating bout the stock market in 1928, who took dry dives in 1929.
^^ bro, you do know who just won the election, right? You do know that he said he's gonna try to create a US strategic "stockpile" of Bitcoin, and potentially buy 1 million BTC, right? You do realize the Republicans have a majority in both the House and the Senate, right? You do realize that Gary Gensler just announced his resignation, right?
"Don't know why you're so obsessed with bItCoIn iS aWeSoMe!!!!"
^^ I get bored, and I like dunking on stupidity. There's plenty of stupidity on this forum, lol. Like this stupidity here: "The bitcoin butt buddy sounds just like all the assholes bleating bout the stock market in 1928". Skibum is either pretending to know what people sounded like talking about the stock market in 1928, or he's REALLY old!
^ When I get bored, I read a book, or lift weights, or go out and get pussy. Not argue about something most people don't care about on a forum dedicated to something completely different.
But if you like shouting into the void, you do you, little buddy.
FTS is the typical simpleton of today, bleating and repeating what he hears on tv instead of researching everything. Anyone remember when Dot Com stocks were so hot because of their "value" instead of actually making something? I also recall the Real Estate Boom of this century and too big to fail. The Real Estate boom of the 80's, bring us the S&L crisis. Always the same thing and the most fucked up thing is all these investment vehicles are simply Amway, a ponzi scheme.
So skibum, a "Ponzi scheme" is when investors are paid profits that are actually funds new investors put in. Like the social security system. Amway was not a ponzi scheme, profits came from selling soap. Amway was pyramid marketing.
Bitcoin, like gold, is a store of value. It isn't supposed to generate revenue. I bought some gold in 1999 for $350 per ounce. Now it's worth $2,750. Is gold and ponzi scheme?
An opinion peice on the Sydney Morning Herald? (SMH) When has an Aussie opinion piece ever been relevant to anything? The piece is pretty poorly written too by the way, not sure if you read it or just glanced at the article name.
The only links you've sent are losers who are desperately trying to stay relevant by sticking to the flavor of the month, just like $STI (LOL) which is down 95% on the year or a poor quality Aussie news source SMH.
PS. Did you not realize the stock you listed was STI and the news source you listed was SMH? I feel like you're just playing a parody of a bitcoin cultist and setting us up for these jokes.
A ponzi scheme is a pyramid scheme. I am not going to argue semantics with someone who searches the internet for ridiculous sources. I don't care if bitcoin is worth 1 million or zero to others. I find it ridiculous and enjoy my old timey boring life, with traditional assets.
@FTS, go out and get some pussy. You said you're not trying to convince people to buy it, you're just ranting about it on a completely unrelated forum. Dork.
Skibum, you speak of "traditional assets". In the 1950's, when I was in grade school and just learning, I asked my dad about "federal reserve notes", they said redeemable for silver. I asked if I could redeem it for silver. My dad said sure, just take it to a bank, they'll give you 4 quarters. Traditional assets are gold and silver. Gold and silver are no longer money. It was a slow process, but in 100 years we've gone from gold (which FDR made illegal to own, you had to give FDR your gold in exchange for a paper note) and silver (no longer in our money) to just pieces of paper. The value of paper fiat money has decreased by a factor of 100 in 100 years. An ounce of gold was $20, now it's $2,750. One problem with hoarding gold is it can be counterfeit. The supply of gold is always increasing. Every fiat currency has eventually failed, and ours will too. Currently there are 2 trillion dollars invested in bitcoin. Good luck!
There actually isn't 2 trillion dollars invested in bitcoin. You reached this number by multiplying the number of bitcoin in circulation by its current price. This is referred to as market cap.
To get the amount of dollars invested into bitcoin you'd have to take the price the bitcoin was sold at during the time of mining/or its last sale, which is significantly lower than 2 trillion dollars.
2legs, wrong. By your definition, the "dollars invested" would have no relevance to anything. I have some gold American eagles, which sell for $2,750. I believe I have $2,750 invested in them. It doesn't matter to anyone (other than the irs) what i paid for them. And if course a 2024 dollar is not the same as a 1964 dollar.
A few lion-y 🦁 points to bring sanity to this thread:
First, this rick can guarantee that any hairless ape that calls himself pussylicker2 has never licked a pussy. I mean really…if he was cool 😎 he would have chosen the handle pussylicker69 or pussylicker420.
And even if he chose one of the cool numbers I can guarantee that he never licked a frickin’ pussy.
Second, doesn’t the Hawk Tuah girl hawing crypto? Maybe the never-licked-a-pussy ape should invest in that. Sounds less fly by night to this rick.
Of course, every time this rick hears about the Hawk Tuah female it is in the context of BJs. Which is weird because you really don’t want a frickin’ hawk to blow you. Just ask my poor bud Stumpytheclown. Poor guy was a circus freak looking for some BJ action but he didn’t have much money. Met a hawk in a back alley and told the hawk he’d pay her with the mouse in his pants. Didn’t go well.
Anyhoo…I hope this rick has clarified things for everybody and that you can now go back to your boring non-rickish lives somewhat enlightened. ROAR!!!
I wonder when the idea of thinkingand logic went out the window and bloviating and pretending replaced it. So the dollar, backed by the full faith and credit of the United States will fail, but bitcoin, which is based on absolutely nothing at all exceptthe infantile desire to get rich without working will survive. Reminds me of Wolrdcom. Buddy got a job there. $400,000 grand a year and 2 million in stock options. A few years later I bet $10 into a poker pot. He reaches into his briefcase, comes out with stock certifcates, throws 5,000 shares of Worldcom on the table says call. We laugh all say fuck you, you owe $9.99, or 1 cent more than bitcoin will eventually be worth.
I've learned a while back that it is pointless to argue with non-believers, so i won't. Less than a month ago I posted that bitcoin would go up over 25% within 2 months. I've made way over 100k since I first posted. I'm just trying to help you guys make money.
And the "full faith and credit" of the united states dollar, 100 years ago was equal to 1.55 grams of gold. Today it's equal to .012 grams of gold. Love that "full faith and credit"! lol
^ Diversification is the cornerstone of a strong and stable portfolio, even if crypto had a long history still its a single item market, if you’re 100% invested in bitcoin where do you hide, when the single market you’re invested in has a bad run. My portfolio is invested in a broad range of market sectors, the diversified nature of my investments means that I very rarely am I in a position where my holdings are at risk of total failure. So go and invest your money in bitcoin as you like it’s still like roulette and sure you can have a good day or good run, eventually you’ll get slammed.
25- of course you're right. I also have tesla, which has been very good, djt, and Ford (Ford sucks bit pays a 5% dividend). Bitcoin's pattern has been to crash after big run-ups. I would advise to be cautious at this level. Of course when it crashes it's scary to buy in. I've also been playing with options in games top, which I do mostly for fun, but I've done well with it.
"I wonder when the idea of thinking and logic went out the window and bloviating and pretending replaced it. So the dollar, backed by the full faith and credit of the United States will fail, but bitcoin, which is based on absolutely nothing at all exceptthe infantile desire to get rich without working will survive."
^^ You're retarded, and a hypocrite. What is that like? LOL
"Diversification is the cornerstone of a strong and stable portfolio,"
^^ Not exactly. Diversification is the right strategy when the investor is highly uncertain. With certainty comes a dramatic reduction in the need for diversification. It's like Mark Cuban said, diversification is for idiots. Personally, I wouldn't say "idiots," I would just say "incognizant," or "uninformed." But the principle is true. The people who had the foresight to realize how valuable Amazon would become as a result of the internet, they had no need to diversify. In fact, diversifying away from Amazon probably would have diminished the performance of their portfolio. Sure, the ride wouldn't be so bumpy... but if you can't handle a little volatility in your life, what do you think that makes you???????
^ Butthurt much? Hey, idiot, people come on this website to talk about all kinds of stuff. How many discussions are there about politics on this website. "People who don't have rocks in their heads don't look to anonymous titty bar message boards for [political] advice." Or how about this one by Skibum, a discussion about fucking movie endings?! But you're not gonna go on his discussion to complain and whine about it being off-topic because you don't have a massive blindspot in regard to movie endings. Or this discussion about the news of President Biden pardoning his son.
It's simple, Puddy Tat. Your opinion about Bitcoin is mostly wrong, and your opinion about Bitcoin will continue to be wrong until you figure out (or admit to yourself) the very fundamental truths about humanity and the principles of economics that are causing its market value to appreciate. If you can't do it today, or in a month, or in a decade, that's totally fine... I'll be here using TUSCL for my strip club desires and for other amusement, and that includes dunking on idiots who write idiotic things (which should be WELCOMED, by the way; it's how we mature and grow and become smarter and wiser... you fuckin idiot! lol)
LOL, I can picture you in your propeller hat rubbing your hands together...heh heh Bitcoin, Bitcoin...I got 'em saying Bitcoin!
If you could comprehend reading at a fourth-grade level, you should understand that to say that this isn't a place I trust for financial advice. Movie endings? Sure, that's subjective. Politics? Sure, not my first place but I like the debate. Finances? You're one of a few people who brag about how much money they have. Lest we forget, we're all 6'9" ex-SEALs with 10 inch penises on the internet.
I don't take ANY kind of financial advice from ANYONE on here, let alone someone whose identity hinges on "dunking on" anonymous strangers on a titty bar message board. If my life were reduced to yours, I'd stick the working end of my 12 gauge in my mouth and pull.
There but for the grace of God go I. Touch grass, incel ;-)
I don’t know 25ape. I believe FTS and the non-pussylicker might be sincere. I just need to see more evidence of their dedication.
If they REALLY believed what they’re saying they’d want to invest every possible dollar they can earn in the bitcoin. Logically, that would mean earning extra dollars. You know how they could do that? By becoming male prostitutes and sucking dicks in a back alley, that’s how!
To summarize, this rick think we should believe them if they provide evidence that they are sucking dicks for cash and investing they money they make that way into bitcoin. ROAR!!!
^ So, non-pussylicking ape, are you willing to provide evidence that you’re sucking off guys in a back alleys to generate additional cash for bitcoin investments?
Because you’ll have to provide that evidence if you want to win this argument. ROAR!!!
^ ANYONE who thinks TUSCL, where people routinely brag about how rich and successful they are, is a good source of financial advice, needs to get their heads examined.
FTS is, after CJKent, the most autistic guy here. Arguing and pimping Bitcoin seems to give him meaning in life. You can just tell a guy like that has a very small penis.
Trump is a smart guy, he wrote the art of the deal. I believe he plans for the government to create a strategic bitcoin reserve. But he won't announce it. If he were to announce it, the price would immediately spike. Trump will keep it quiet. When it happens, bitcoin will jump, I believe, to 150k immediately. It will soar over 200k this year.
If you're investment portfolio is small, and you're a gambler, you might consider buying some IBIT calls, $90 strike, expire may 16, 2025. They'll cost about $2. If bitcoin hits $200k, ibit will hit $110, and that call will hit $20. Your $2 will be $20. Just for the hell of it, I'm going to buy it myself, so I'll have real results to show you. Good luck and happy new year to all!
Not trying to be insensitive, but a lot of rich people lost a lot of their stuff in the California fires. One guy lost 10 Olympic medals. It's my guess that among the losses, there are people who lost their computers that had their bitcoin keys. Those bitcoin are gone forever. The supply of bitcoin will decrease every year.
^sincere question here: Is a bitcoin owner’s key accessible only on one device? If they have their login and PW, can’t they access their account even if their computer is destroyed in a wildfire? Second sincere question directed to the comment that the supply of bitcoin will decrease every year: What about the bitcoin mining I’m always hearing about?
Manuellabore, there are about 20 million bitcoin that have been mined. Only 21 million bitcoin can be mined, so about 1 million more can be mined. Of course some of those 20 million coins are lost, like the guy whose hard drive ended up in a dump with keys to 7,000 bitcoins. Once the last bitcoin is mined (about 2040), the supply will decrease as coins are lost.
Coins will be lost not just because of carelessness. Suppose a court is taking all a person's wealth, like bankruptcy or criminal activity. A judge orders a man to turn over his bitcoin keys, and he says sorry judge, the keys were on a computer the courts took, or were list in a fire. He's hoping he can get to his bitcoins in the future, but he dies. Those coins are lost forever. There is no limit on the price of gold, or a car, or a gallon of gas. It's more true of bitcoin.
Trump is smart. When he wants to buy something, he wants to pay as little as he can. He will try to be as stealth as possible because obviously when the US government funds the strategic bitcoin fund it will go up. $200k in '25.
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But, some outspoken people on this website will continue to spread nonsense in regard to Bitcoin, or arguments that sound significant but are actually quite trivial. Like Icey’s argument that “it’s only worth what somebody will pay for it.”
You can try to help these people by using logic and reason, but some people can’t listen to reason. They have to figure it out for themselves, and that means getting past their emotions as well as their false beliefs and preconceived notions. Some of these people are going to wait until they see Bitcoin-denominated price tags in every Wal-Mart, every 7-Eleven, every yard sale, and every strip club.
Obviously, the answer is yes. I am to be made fun of. That's OK.
All the people that invested in FTT (Sam BF's cryptocurrency), without understanding it, ended up sort of like Nelson Muntz. Walking down main street with their pants around their ankles while the masses laughed and cheered.
All I am saying is, if you don't understand cryptocurrency, you're not alone. And if you don't understand it, you probably shouldn't invest in it.
My fundamental problem with Bitcoin, is that when I first heard about it, it was introduced as a currency. To me, the goal of a currency is to have a stable value. So I do not understand investing in a currency in speculation that it will go up.
As always: "Past performance is not indicative of future trends."
Ignore the price pay attention to the underlying technology which is extremely flawed at best.
Bitcoin has zero use cases. Price action is based purely on speculation, not utility.
^^ No, that's not correct. Try again.
Come on. I don't understand bitcoin, but I have accumulated enough money in my life time to see me through to my end.
Or this. Say you are in Mexico and want to take the opportunity to buy a Cuban cigar. If you don't know anything about Cuban cigars, what are the odds you are going to end up with the genuine article?
If you are buying firewood, do you want hard wood, or soft wood? Eh, it all burns, I guess.
I have stayed away from bitcoin both because I don't fully understand it, and because I've sensed and seen "scam" all over it, as evidenced by the many stories of people being defrauded and losing their money.
However, there is a good argument that bitcoin might do well in the near term, as Trump is pro-crypto and his family has a personal stake in it. Just watch how the wealthy and connected are going to make out like bandits in the years ahead.
Trump family gets 75% of crypto coin revenue, has no liability, new document reveals
https://www.cnbc.com/2024/10/17/trump-cr…
Do you really think the 401k you've contributed to all these years will be enough for you to get by? Hyperinflation has destroyed the currency of several countries. But, it can never destroy the value of bitcoin, which is the main reason Satoshi Nakamoto invented it.
https://x.com/_checkmatey_/status/185592…
No one cares about the technology they just care about they can do with it. Which is nothing.
And Bitcoin is a currency, but it's an investment?
And my retirement reserve is going to be rendered worthless because of reparations or something?
I admire what Will Rogers said: "Invest in land. They ain't makin' any more." And you don't have to depend on any Wizard of Oz to enforce that mandate.
You have to pay to own land. It's very easy to take land away from you. Gold is heavily counterfeited, and it's easy to steal.
Bitcoin now: $82,450.
P.S. Bitcoin is legal tender of a sovereign nation, like the Mexican Peso, the Egyptian Pound, the Czech Koruna, etc.
Focus on use cases which bitcoin has none which is why bitcoin cultists ignore that question.
"No one cares about the technology they just care about they can do with it. Which is nothing."
^^ Name a use case for the US currency in your bank account, other than using it as a medium of exchange. Tell me about its industrial uses. How is it used in manufacturing?
I can use Bitcoin as a medium of exchange exactly the same way that US currency is used--by sending it over an electronic telecommunications network. A significant difference is that Bitcoin is a nascent currency with comparatively little acceptance, but that's a circumstantial difference rather than a fundamental difference. If half of Africa decided to use Bitcoin to economically liberate themselves from their French masters then the circumstances would be totally different.
The technology is terrible.
https://www.investopedia.com/tech/bitcoi…
"When the Lightning Network was integrated in 2018, expectations for reduced costs and faster transactions were high among users—but as the graph below shows, average Bitcoin transaction fees increased."
Direct quote from the article. I was also in the space when it happened.
You probably shouldn't be using investopedia as a technical guide. That's only marginally better than the articles written by journalists who don't do any research.
The fees, denominated in Bitcoin, hit an all-time LOW just about a month ago.
On the other hand your faith in bitcoins is backed up only by your faith and trust in some anonymous guy called Satoshi Nakamoto, whom nobody knows if he’s even a real person.
https://www.justice.gov/opa/pr/two-arres…
It appears we depend on the government to protect our bitcoin investment as well.
And if the value of Bitcoin increases over the span of a few hours on 11/11/2024, just what does that prove?
"backed" by the full faith and trust of the US government doesn't mean anything. The US dollar has already depreciated 99% since the Federal Reserve act of 1913, and that's according to their own statistics. So, by your understanding, the US government must be 99% gone since 1913?? LOL.
There have been several instances in which a fiat currency has completely failed (hyper inflated) while the government remained the same. So, you just pulled "as long as the government is here the money is good" right out of your a$$.
It really seems like you're trying hard to demonstrate that you don't understand currency "backing"--what it means, and what its purpose is.
$85,000.
https://x.com/saylor/status/185604141143…
But, remember, it's worth absolutely nothing! LOL.
But we do not need to continue the debate, as we are at the point where we are not listening to each other.
^^ false. the Latin word fiat does not come from the Latin word fiducia. That doesn't even make sense. That's like say the phrase "let it be," in English, is actually derived from the other English word "trust." That's not how linguistic derivation works.
^^ the central bank cannot guarantee value, nor can it guarantee stability. All they can do is adjust interest rates (Communistic price-setting) and buy bonds (print money, i.e. devalue the currency).
You do not have a proper understanding of the concept of value. I'm sorry.
Like I told someone else yesterday there’s this thing called Google, you can get word origins and so much more information by learning to use it
Etymology of fiat it’s there don’t need to take my word for it
https://www.etymonline.com/word/fiat#ety…
1. That link has nothing to do with etymology or the meaning of these latin words.
2. fiat currency and fiduciary currency are definitely similar, but there is a subtle difference. Not all fiduciary currency is/was fiat currency. For instance, during the free-banking era of the United States, banks were free to issue their own banknotes which were usually redeemable for gold (which is what is actually meant by a "backed" currency---the banknote was just a substitute for the desired money, which was gold). These banknotes were not fiat currency (not declared as legal tender by the government) but they WERE fiduciary currencies because they relied upon the trust from the customer that they can freely exchange the banknote for a fixed weight of gold. Nowadays, however, our currency is not backed by anything---the "full faith and credit" of the government is meaningless, especially when the government has demonstrated that they are NOT TRUSTWORTHY! That's why our currency is typically just referred to as "fiat," because it's just a database entry that is declared to be money by recognized authority. There isn't really any trust involved; I'm not trusting that they'll keep my gold safe for me, and that I can get it back whenever I want it back.
3. These are all moot points, but it's quite typical of how these arguments go. I make a correction to a misunderstanding, and the other person shifts the goalpost. You tried to argue that the latin word "fiat" is actually derived from another latin word, "fiducia." That's NOT correct.
4. You would do well to learn some history on this subject. There's plenty of historical records that conclusively demonstrate that governments pretty much ALWAYS debase and devalue the currency, for their benefit and to the detriment of their citizens. Why do you think we use the word "debasement," in this context? There are no metals being used in our exchanges anymore, but the phrase "debasement" is still used because that's how governments, historically, caused the inflation of prices, thereby depriving the citizens of their hard-earned incomes---they would switch out the core of the precious metal coins with a base metal and then put it back into circulation.
Like I said, regardless of your political or religious beliefs, I just want to point out an great investment opportunity. Everyone since Trump was declared the winner and next president;
TSLA has made massive gains, it's now at $357. It's going straight to $1,000.
DJT has made big gains, it's at $33, gount to $100.
Bitcoin is up bigly, at $88,000, going to $100k.
I plan on using a lot of my gains to provide financial support to women in need who are willing to provide pleasure to an old man, me!
Once (if) people start using bitcoin for its intended purpose they will see how deeply flawed the technology is and abandon it.
All that confidence, without sufficient knowledge. SMH.
I do feel bad for those people in other countries who use bitcoin, they'd be much better off using traditional payment methods. I looked up a transaction fee for bitcoin and its at $2.77. The lightning network fee now is 4 cents but its volatile and could go as high as a regular bitcoin transaction. I feel so sorry for those using it (if they actually are i would assume most people in third world countries couldn't stomach those high fees) i do know bitcoin marketers have a habit of stretching the truth.
https://www.statista.com/statistics/1320…
I actually moved some of my money around just last night, from my self-custodied Lightning Node… I just checked, the fee was 0 sats.
I do think you're deluded in thinking bitcoin is good for third world countries for the reasons I listed above.
It’s tiresome you have the right to say anything you like, so honestly IDGAF
I see you shilling for bitcoin, you can deny it till the cows come home, doesn’t mean much to me and most folks with actual experience.
As far as defining FIAT, I have seen many different things and you can split hairs over meaningless trivia, that just misdirection on your part an attempt to deceive, it may work sometimes but I see it for what it is.
I really don’t care what anyone else does, but if you’re so sure you’re right put your money where your mouth is, come out of hiding behind an anonymous “nom de plume” and show us the evidence.
Peace
We told you so.
TSLA has been very good to me though I think the fair value of DJT is zero. Who uses Truth Social?
"an attempt to deceive"
^^ show me my attempt at deception, motherfucker. How dare you. Here I am trying to TEACH, to CORRECT people's misunderstanding, and you accuse me of deception? Fuck you. You can say I'm shilling Bitcoin, but I hardly ever actually give direct recommendations to buy Bitcoin. People should do whatever they want, I'm not their financial advisor. I'm just telling it how it is--fiat currency is just a number in a privileged computer database, there is no limit to the amount they can produce. That's straight from the horses mouth, so to speak.
"show us the evidence."
^^ show us your social security card, driver's license, and most recent bank statements and 401k statements, as well as a video recording of you, with your face clearly visible, holding these documents and verbally referring to this TUSCL conversation. If you do that then I'll show cryptographic proof of my largest Bitcoin holding (one address).
You need to learn to live and let live. Shut your hole, spout your fantasies, and let others do the same. Or go play in the street. As you say, IDGAF.
Im not promoting anything, you are, if I was advertising, like you are, I’d put my credentials out there for examination and scrutiny
This is financial advice.
Oh wait, you can’t.
Bitcoin falls short on the cheap safe and fast part.
Look at dogecoin… doubled in one week
You can offer secondary stock offerings to dilute
You won't have more than 21M BTC
That said, I didnt listen to my own advice, Should have loaded up
You got the “cheap” part right; US dollars are very, very cheap… regardless of denomination. Marginal cost to produce a $100 note is about 7¢.
“Full backing” of a government that says it’s valuable, just because, is meaningless. You guys have such a poor understanding of the purpose of currency “backing.”
I had dinner with my Bitcoin buddies last night, about 8 people. We settled up in Bitcoin, over the Lightning network. Instantaneous and virtually free (less than 1¢).
Why do people insist on making false statements when they’re shown to be incorrect? SMH.
The average monthly wage in Nigeria (using Nigeria as an example because you mentioned Africa using bitcoin to free itself of French influence) is the equivalent to $43.19 USD. Assuming they have 40(low estimate) transactions a month they would pay 40 cents a month in LN fees.
That proportionally is the equivalent of someone making 50k USD in America paying $463 a year in transaction fees.
Using your own examples bitcoin is absolutely not cheap.
Spend $40 in fees, and realize an appreciation of $12,363. Yea, Bitcoin is so expensive… /S
I can tell by the way that you are focusing on this minute detail about fees that you are totally missing the forest and instead focusing on this tiny little twig.
I know that saving any sort of salary for a Nigerian worker is completely impossible, hell do you think an American worker making 50k can save 25k? It's easy to type out but it's just not feasible. Combine it with the fact this Nigerian would need a device plus internet capable of using LN and buying bitcoin. They'd also need a bank to connect a bank account and deposit money to buy the bitcoin. Its just a silly thought to say an average Nigerian can even save 6 months salary or have the capabilities to use LN with their infrastructure.
^^ wrong. You're a wrong, broken record. I use Bitcoin all the time.
https://news.bit2me.com/en/nigeria-en-2d…
Interest by region, Nigeria is #2:
https://trends.google.com/trends/explore…
Whatever these people are using, it's definitely, definitely not Bitcoin, because Bitcoin has zero uses....
https://x.com/BitcoinEkasi/status/158741…
https://x.com/BitcoinEkasi/status/156256…
https://x.com/saylor/status/158858113913…
https://x.com/Stromens/status/1775607668…
https://x.com/BitcoinIsaiah/status/16596…
https://x.com/bitcoin_racing/status/1856…
https://x.com/criptopepe1/status/1854735…
https://x.com/efenigson/status/185676279…
https://x.com/saylor/status/159337398504…
https://x.com/JoeNakamoto/status/1843735…
https://x.com/BTCtoolshed/status/1857290…
https://x.com/PichlerD/status/1596521856…
https://x.com/BTC_LN/status/163198078252…
https://x.com/Ecryptofficial/status/1771…
https://x.com/BTC_LN/status/162372108545…
https://ir.nano.cn/news-releases/news-re…
That stock you listed (ticker $STI on the NY exchange LOL) is down 96% in the last year.
The nano thing is a chinese b2b company which again would have zero uses for the consumer. Its been 15 years since bitcoin was introduced to the world and still no uses! The links you posted further proof how niche and limited it is. These aren't hard hitting major companies they're companies grasping for survival.
The average person has no uses for bitcoin.
I wish you the best of luck as well, have fun out there!
^^ no, that's ridiculous. This hard money is held by hundreds of millions of people worldwide, it's in the treasuries of public corporations, held in the personal accounts of millionaires and billionaires, held in pension funds, held in the BEST PERFORMING ETF IN HISTORY (IBIT), it might even be held by the US government as a strategic reserve. Oh, and it's the legal tender of a sovereign nation and people really do use it as a medium of exchange. I even heard that you can use Bitcoin to pay for a subscription to an Internet forum dedicated to reviewing strip clubs... The Ultimate something something something... I forget what it's called. So, no, it's extremely improbable that Bitcoin goes to zero.
But... I suppose a meteor might strike the Earth and wipe out 99.9% of the population. Bitcoin might go to zero in that scenario. *shrug*
Go out and get some pussy. Don't know why you're so obsessed with bItCoIn iS aWeSoMe!!!! on a titty bar message board.
^^ bro, you do know who just won the election, right? You do know that he said he's gonna try to create a US strategic "stockpile" of Bitcoin, and potentially buy 1 million BTC, right? You do realize the Republicans have a majority in both the House and the Senate, right? You do realize that Gary Gensler just announced his resignation, right?
"Don't know why you're so obsessed with bItCoIn iS aWeSoMe!!!!"
^^ I get bored, and I like dunking on stupidity. There's plenty of stupidity on this forum, lol. Like this stupidity here: "The bitcoin butt buddy sounds just like all the assholes bleating bout the stock market in 1928". Skibum is either pretending to know what people sounded like talking about the stock market in 1928, or he's REALLY old!
But if you like shouting into the void, you do you, little buddy.
Bitcoin, like gold, is a store of value. It isn't supposed to generate revenue. I bought some gold in 1999 for $350 per ounce. Now it's worth $2,750. Is gold and ponzi scheme?
https://www.smh.com.au/money/investing/i…
The only links you've sent are losers who are desperately trying to stay relevant by sticking to the flavor of the month, just like $STI (LOL) which is down 95% on the year or a poor quality Aussie news source SMH.
PS. Did you not realize the stock you listed was STI and the news source you listed was SMH? I feel like you're just playing a parody of a bitcoin cultist and setting us up for these jokes.
STI SMH
@FTS, go out and get some pussy. You said you're not trying to convince people to buy it, you're just ranting about it on a completely unrelated forum. Dork.
To get the amount of dollars invested into bitcoin you'd have to take the price the bitcoin was sold at during the time of mining/or its last sale, which is significantly lower than 2 trillion dollars.
Let me know if you have any other questions!
I don't mean to say I told you so, buy I told you so.
First, this rick can guarantee that any hairless ape that calls himself pussylicker2 has never licked a pussy. I mean really…if he was cool 😎 he would have chosen the handle pussylicker69 or pussylicker420.
And even if he chose one of the cool numbers I can guarantee that he never licked a frickin’ pussy.
Second, doesn’t the Hawk Tuah girl hawing crypto? Maybe the never-licked-a-pussy ape should invest in that. Sounds less fly by night to this rick.
Of course, every time this rick hears about the Hawk Tuah female it is in the context of BJs. Which is weird because you really don’t want a frickin’ hawk to blow you. Just ask my poor bud Stumpytheclown. Poor guy was a circus freak looking for some BJ action but he didn’t have much money. Met a hawk in a back alley and told the hawk he’d pay her with the mouse in his pants. Didn’t go well.
Anyhoo…I hope this rick has clarified things for everybody and that you can now go back to your boring non-rickish lives somewhat enlightened. ROAR!!!
Reminds me of Wolrdcom. Buddy got a job there. $400,000 grand a year and 2 million in stock options. A few years later I bet $10 into a poker pot. He reaches into his briefcase, comes out with stock certifcates, throws 5,000 shares of Worldcom on the table says call. We laugh all say fuck you, you owe $9.99, or 1 cent more than bitcoin will eventually be worth.
And the "full faith and credit" of the united states dollar, 100 years ago was equal to 1.55 grams of gold. Today it's equal to .012 grams of gold. Love that "full faith and credit"! lol
And I've licked hundreds of pussies.
My portfolio is invested in a broad range of market sectors, the diversified nature of my investments means that I very rarely am I in a position where my holdings are at risk of total failure.
So go and invest your money in bitcoin as you like it’s still like roulette and sure you can have a good day or good run, eventually you’ll get slammed.
That you view this as a matter of "believers" and "non-believers" says it's a matter of faith, not reason.
"I wonder when the idea of thinking and logic went out the window and bloviating and pretending replaced it. So the dollar, backed by the full faith and credit of the United States will fail, but bitcoin, which is based on absolutely nothing at all exceptthe infantile desire to get rich without working will survive."
^^ You're retarded, and a hypocrite. What is that like? LOL
"Diversification is the cornerstone of a strong and stable portfolio,"
^^ Not exactly. Diversification is the right strategy when the investor is highly uncertain. With certainty comes a dramatic reduction in the need for diversification. It's like Mark Cuban said, diversification is for idiots. Personally, I wouldn't say "idiots," I would just say "incognizant," or "uninformed." But the principle is true. The people who had the foresight to realize how valuable Amazon would become as a result of the internet, they had no need to diversify. In fact, diversifying away from Amazon probably would have diminished the performance of their portfolio. Sure, the ride wouldn't be so bumpy... but if you can't handle a little volatility in your life, what do you think that makes you???????
Plenty other websites make the case for BTC without being autistic incels about it.
It's simple, Puddy Tat. Your opinion about Bitcoin is mostly wrong, and your opinion about Bitcoin will continue to be wrong until you figure out (or admit to yourself) the very fundamental truths about humanity and the principles of economics that are causing its market value to appreciate. If you can't do it today, or in a month, or in a decade, that's totally fine... I'll be here using TUSCL for my strip club desires and for other amusement, and that includes dunking on idiots who write idiotic things (which should be WELCOMED, by the way; it's how we mature and grow and become smarter and wiser... you fuckin idiot! lol)
Until next time... have fun!
If you could comprehend reading at a fourth-grade level, you should understand that to say that this isn't a place I trust for financial advice. Movie endings? Sure, that's subjective. Politics? Sure, not my first place but I like the debate. Finances? You're one of a few people who brag about how much money they have. Lest we forget, we're all 6'9" ex-SEALs with 10 inch penises on the internet.
I don't take ANY kind of financial advice from ANYONE on here, let alone someone whose identity hinges on "dunking on" anonymous strangers on a titty bar message board. If my life were reduced to yours, I'd stick the working end of my 12 gauge in my mouth and pull.
There but for the grace of God go I. Touch grass, incel ;-)
If they REALLY believed what they’re saying they’d want to invest every possible dollar they can earn in the bitcoin. Logically, that would mean earning extra dollars. You know how they could do that? By becoming male prostitutes and sucking dicks in a back alley, that’s how!
To summarize, this rick think we should believe them if they provide evidence that they are sucking dicks for cash and investing they money they make that way into bitcoin. ROAR!!!
So, non-pussylicking ape, are you willing to provide evidence that you’re sucking off guys in a back alleys to generate additional cash for bitcoin investments?
Because you’ll have to provide that evidence if you want to win this argument. ROAR!!!
This is financial advice; please please please be well diversified. Again this is absolutely financial advice.
FTS is, after CJKent, the most autistic guy here. Arguing and pimping Bitcoin seems to give him meaning in life. You can just tell a guy like that has a very small penis.
Sure thing zippy
Just hit $106,000.
If you're investment portfolio is small, and you're a gambler, you might consider buying some IBIT calls, $90 strike, expire may 16, 2025. They'll cost about $2. If bitcoin hits $200k, ibit will hit $110, and that call will hit $20. Your $2 will be $20. Just for the hell of it, I'm going to buy it myself, so I'll have real results to show you. Good luck and happy new year to all!
Second sincere question directed to the comment that the supply of bitcoin will decrease every year: What about the bitcoin mining I’m always hearing about?
https://finance.yahoo.com/news/man-tryin…
Coins will be lost not just because of carelessness. Suppose a court is taking all a person's wealth, like bankruptcy or criminal activity. A judge orders a man to turn over his bitcoin keys, and he says sorry judge, the keys were on a computer the courts took, or were list in a fire. He's hoping he can get to his bitcoins in the future, but he dies. Those coins are lost forever. There is no limit on the price of gold, or a car, or a gallon of gas. It's more true of bitcoin.