The Bitcoin Craze/ Fad/ Real Thing??

[Will]

Originally Posted by DAB

the US govt has their taxing power and printing press and mint and the military to defend the US dollar.

who or what defends bitcoin?

You're thinking the right way. Bitcoin may stay and may succeed in the long term as a commodity. It will NEVER be a currency. The blockchain will not prevent governments from putting you in a cage at best or putting a bullet in your skull at worst.

[ZipZap]

Originally Posted by Dixievet

There are many levels of investing in crypto.

I guess it all depends on how you want to invest. I hold several stocks that are based on Bitcoin and other crypto currencies and I own actual coin.

For the average person, investing in something like MSTR, BITW, GBTC are the simplest methods.

Love ya Dixie, but this continues to just look like a circle jerk to me. I do understand investment in currency but this one does not appear to be any more than a self-eating watermelon. I will be more than happy to lift a toast with you if my Boomer butt lasts long enough to see the light at the end of the tunnel

[A/E]

Question:

why is Electrum ( a version of 4.0.9 ) vulnerable ?

why does a pop up the Red Screen of this platform want to paste this in my browser ?

https:// electrum-4.github.io

Who is trying to harvest my make believe crypto that I don't even own ?

Asking for Friend of a Friend who lives inside my brian or laptop since I called Hunter out for his not being covered by the Fake News . . .

[Rob]

Originally Posted by ZipZap

Love ya Dixie, but this continues to just look like a circle jerk to me. I do understand investment in currency but this one does not appear to be any more than a self-eating watermelon. I will be more than happy to lift a toast with you if my Boomer butt lasts long enough to see the light at the end of the tunnel

Completely understand. For me, this is at the edge of what I do for a living and investing in things like this means risks. Investing in this is not for everyone, but its adoption will grow; we are still in the toddler stage of cryptocurrency and I feel that we will soon realize its capability as it continues to mature.

Other examples:

[DAB]

Janet Yellen isn't too sure about bitcoin:

https://www.cnbc.com/2021/02/22/yell...t-bitcoin.html

[simpleman68]

Originally Posted by DAB

i can trust a bank or brokerage to keep my money safe from theft or corruption.

Sure 'bout that? Things are gonna get really interesting in the next few years.

If/when the dollar crashes, you won't have to worry about the banks; nobody will want the useless green notes.

Not being a fan boy but no way are we putting our "nest egg" all in one spot.

Scott

[Dan47]

“To the extent it is used I fear it’s often for illicit finance. It’s an extremely inefficient way of conducting transactions, and the amount of energy that’s consumed in processing those transactions is staggering.”

Mining bitcoin requires users to solve complex mathematical equations using high-powered computer setups. The electric consumption used in the process leaves an annual carbon footprint equal to the nation of New Zealand, according to Digiconomist.“

https://www.cnbc.com/2021/02/22/yell...t-bitcoin.html


Oh noes!

“Various government agencies have contemplated the idea of making an alternate digital currency with the hopes that it would open up the global payments system to those who don’t have access.

The Federal Reserve, where Yellen once served as chair, has studied the issue and discussed the possibility of a new digital currency along with a payments system it expects to roll out over the next several years.

“I think it could result in faster, safer and cheaper payments, which I think are important goals,” Yellen said.

https://www.cnbc.com/2021/02/22/yell...t-bitcoin.html

There ^ it is. Bitcoin’s time is limited, a beta test for the coming Fedcoin. Might be a good time to take your winnings and invest them in GameStop and Hertz.

[rolandjen]

Apologies for reviving an old thread, but I'm on the hunt for similar info. It's interesting to hear about your Bitcoin journey and your decision to jump on the MSTR ship. Timing it during a temporary dip sounds smart.Even though the stock price dipped a bit, don't worry! Bitcoin's upward movement is definitely a good sign. And it's cool to hear about your successful move from fully loaded Nasdaq to the Small cap fund. Seems like you made the right call there!By the way, during my online crypto search, I stumbled upon this website*https://www.moonbitcoins.com/dashboard. They offer free Bitcoin mining, which caught my attention. If you're curious, you might wanna check it out. Oh, and just so you know, I'm new to this forum and excited to join the discussion.

[Rob]

Originally Posted by rolandjen

Apologies for reviving an old thread, but I'm on the hunt for similar info. It's interesting to hear about your Bitcoin journey and your decision to jump on the MSTR ship. Timing it during a temporary dip sounds smart.

[Mick]

Originally Posted by Dan47

“To the extent it is used I fear it’s often for illicit finance. It’s an extremely inefficient way of conducting transactions, and the amount of energy that’s consumed in processing those transactions is staggering.”

Mining bitcoin requires users to solve complex mathematical equations using high-powered computer setups. The electric consumption used in the process leaves an annual carbon footprint equal to the nation of New Zealand, according to Digiconomist.“

https://www.cnbc.com/2021/02/22/yell...t-bitcoin.html


Oh noes!

“Various government agencies have contemplated the idea of making an alternate digital currency with the hopes that it would open up the global payments system to those who don’t have access.

The Federal Reserve, where Yellen once served as chair, has studied the issue and discussed the possibility of a new digital currency along with a payments system it expects to roll out over the next several years.

“I think it could result in faster, safer and cheaper payments, which I think are important goals,” Yellen said.

https://www.cnbc.com/2021/02/22/yell...t-bitcoin.html

There ^ it is. Bitcoin’s time is limited, a beta test for the coming Fedcoin. Might be a good time to take your winnings and invest them in GameStop and Hertz.

Posted on 2/22/21, MSTR close on that day = $750.41. Current price = $297.40.

Did anyone listen to Dan? Anyone still in MSTR?

[Bill]

Originally Posted by rolandjen

Apologies for reviving an old thread, but I'm on the hunt for similar info. It's interesting to hear about your Bitcoin journey and your decision to jump on the MSTR ship. Timing it during a temporary dip sounds smart.

Do you have any suspicious links we should be clicking on? Please post them!

[ZipZap]

Originally Posted by Rob

Close the damn door behind you!

[Giraffe (He/Him)]

Aren't all you crypto-bros in jail yet?

[MenorTayn]

While the US dollar has robust backing from governmental institutions, Bitcoin operates in a decentralized manner. This decentralization is both its strength and potential vulnerability. If you're intrigued by the complexities of Bitcoin and want to explore further, I can share some tips on how to sign up for Binance 바이낸스 가입방법. It's essential to understand the landscape as we navigate the future of finance!

[Onebadcad]

I know a dood, maybe family, not blood, bought $10K, maybe $20K, when at $1.00, he is a baller.

He also got a ton of telsa at IPO price.

[6spdC6]

Originally Posted by Onebadcad

I know a dood, maybe family, not blood, bought $10K, maybe $20K, when at $1.00, he is a baller.

He also got a ton of telsa at IPO price.

Telsa I can follow. Bitcoin i know nothing about so for that reason I would leave alone.

FWIW been doing the market for over 30 years, I will stick with what I sort of understand.

[GTOguy]

I'm comfortably retired and secure. No need to invest in stuff I can't put my hands on. No interest, either.

[Onebadcad]

Originally Posted by 6spdC6

Telsa I can follow. Bitcoin i know nothing about so for that reason I would leave alone.

FWIW been doing the market for over 30 years, I will stick with what I sort of understand.

He manages multiple funds, rule is they only buy what they can sell within 24 hours, I do not believe he buys cybercurrencies for his clients.

His son knows cybercurrencies, told him to do it, he is glad he did.

Know another dood, not family, he bought bitcoin in OCT last year, paid $27K, doing VERY well today.

I do not understand cybercurrencies, never been a buyer.

[Frankie the Fink]

Degreed Computer Scientist here - Bitcoin and its ilk are software constructs in cyberspace with individual transactions recorded in a "block chain" - (we used to call these linked lists) - the results have no intrinsic value (which is why Buffet calls it "rat poison").

Its appeal was to cut out the banking middle man and achieving anonymity (which is not really the case anymore). If you want to actually DO anything with crypto you have to turn into something else with intrinsic value, cash, stocks, real estate, etc..

Its a speculative play with a bit of the "bigger fool" theory at work; throw some money at it if you like slot machines but don't bet the farm...the volatility swings and "wild west" aspect are not for the faint of heat.

[dvarapala]

Originally Posted by Frankie the Fink

Degreed Computer Scientist here - Bitcoin and its ilk are software constructs in cyberspace with individual transactions recorded in a "block chain" - (we used to call these linked lists)

* immutable linked list

IOW, it's a distributed digital financial ledger than cannot be forged.