Not for me. I don’t need new wealth just need to maintain my current plan. I’m glad you younger folks are figuring out a plan to make up for the now defunct pension for life plan
@air4mdc said:
I’m interested to see what the price volatility will be when all 21 million are mined and zero available to be mined.
I'm interested to see what the price volatility will be when people realize that they are imaginary money and aren't even real.
Are you referring to Federal Reserve notes? Or financial derivatives?
As long as our debts and taxes are payable in dollars, Federal Reserve notes are as real as money gets.
And Detroit is going to allow BTC payments, so is BTC now real to you? El Salvador declared it legal tender so....
No. The important thing is the currency in which the debt is denominated, not the currency (or anything else) that is used to settle the debt. As for El Salvador, they use both the USD and BTC as their official currencies. I imagine that taxes and virtually all private debts are denominated in USD. Primarily because it's a much more stable currency, but also because the public has been reluctant to adopt BTC to any appreciable extent. Correct me if I'm wrong.
Andy Lustig
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
How can/will BTC ever be considered a method of payment when it is so volatile? It can swing so wildly in the time it takes to grab a gallon of milk, walk it to the register, and pay for it that the price of the product is basically unknown.
And why is the price of BTC based on the USD if it is "currency?"
It's speculation, that's why, just like any other stock. But there's nothing backing this thing! No one even knows who exactly created it.
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
@DCW said:
How can/will BTC ever be considered a method of payment when it is so volatile? It can swing so wildly in the time it takes to grab a gallon of milk, walk it to the register, and pay for it that the price of the product is basically unknown.
And why is the price of BTC based on the USD if it is "currency?"
It's speculation, that's why, just like any other stock. But there's nothing backing this thing! No one even knows who exactly created it.
Yes, volatility is an issue.
Why is gold "real money" if it's price is in USD?
Is Canadian money not real money because there's a USD conversion?
There's nothing backing the USD either except "faith".
@DCW said:
How can/will BTC ever be considered a method of payment when it is so volatile? It can swing so wildly in the time it takes to grab a gallon of milk, walk it to the register, and pay for it that the price of the product is basically unknown.
And why is the price of BTC based on the USD if it is "currency?"
It's speculation, that's why, just like any other stock. But there's nothing backing this thing! No one even knows who exactly created it.
Mostly agreed, but currencies do have market based exchange rates, and that doesn’t mean they’re not actually currencies. Bitcoin is no different in that regard.
Andy Lustig
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
@air4mdc said:
I’m interested to see what the price volatility will be when all 21 million are mined and zero available to be mined.
I'm interested to see what the price volatility will be when people realize that they are imaginary money and aren't even real.
Are you referring to Federal Reserve notes? Or financial derivatives?
As long as our debts and taxes are payable in dollars, Federal Reserve notes are as real as money gets.
And Detroit is going to allow BTC payments, so is BTC now real to you? El Salvador declared it legal tender so....
No. The important thing is the currency in which the debt is denominated, not the currency (or anything else) that is used to settle the debt. As for El Salvador, they use both the USD and BTC as their official currencies. I imagine that taxes and virtually all private debts are denominated in USD. Primarily because it's a much more stable currency, but also because the public has been reluctant to adopt BTC to any appreciable extent. Correct me if I'm wrong.
That is true.
I disagree, however, that the debt denomination matters more than accepted methods of payment. You need look no further than the use of non-US coins in early America. All of those currencies were legal tender even though debts were denominated in US dollars.
@jmlanzaf
1. Yay, we agree!
2. Gold has been used for millenia, and it's value is not in question
3. Canadian money will not buy you toilet paper in the United States
4. I will take the faith my country placed in a paper dollar it issued over some digital nonsense that no one is claiming to have invented any day.
That doesn't mean it isn't an "investment." I guess it is a great investment since it is up almost 100% since January. But anything that goes up that fast, can and probably will, fall at the same rate.
I'm just not a believer in this, and I'm not an old guy. (Well, getting there.)
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
@jt88 said:
Bitcoin will hit 120K very soon. I wonder so high it can go before it crash. Any thoughts?
It's a pyramid (Ponzi) scheme based on make-believe and it will eventually crash. If you got in early and if you get out before it crashes, you will make a lot of money. Otherwise, you won't. No one knows when it will crash but when it happens, it'll come fast. Tulip bulbs anyone?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
@jt88 said:
Bitcoin will hit 120K very soon. I wonder so high it can go before it crash. Any thoughts?
It's a pyramid (Ponzi) scheme based on make-believe and it will eventually crash. If you got in early and if you get out before it crashes, you will make a lot of money. Otherwise, you won't. No one knows when it will crash but when it happens, it'll come fast. Tulip bulbs anyone?
I don't think it is Ponzi scheme. I think many companies are buying it that's why the price keep moving up. We might see 120K tomorrow.
@jt88 said:
Bitcoin will hit 120K very soon. I wonder so high it can go before it crash. Any thoughts?
It's a pyramid (Ponzi) scheme based on make-believe and it will eventually crash. If you got in early and if you get out before it crashes, you will make a lot of money. Otherwise, you won't. No one knows when it will crash but when it happens, it'll come fast. Tulip bulbs anyone?
It’s not a pyramid scheme as there’s no pyramid structure. It may crash, but anything else that there exists to invest in may also crash. All monetary value is “make-believe.” People have been saying it will crash for more than 15 years, but in that time frame it has instead outperformed everything else.
@Coins3675 said:
I think the physical coins are cool, but they kind of defeat the point of a digital currency.
Not really. The tokens aren't usually meant to trade as coins. They usually have a digital, single use redemption code. That's why you see so many being sold as "redeemed".
I try my best not to get involved (invested in) something that I don't understand. My track record is rife with mistakes I've made in the past. I'm still trying to understand the concept of "block chain". If you have a link explaining the concept of "bitcoin for dummies", please share it.
Formerly known as deadmunny
Positive transactions with: slantycouch, dontippet, Gerard, Scrapman1077, USMC_6115, rah1959
@taropatch99 said:
I try my best not to get involved (invested in) something that I don't understand. My track record is rife with mistakes I've made in the past. I'm still trying to understand the concept of "block chain". If you have a link explaining the concept of "bitcoin for dummies", please share it.
Blockchain is an open system that allows anyone to track activity. It's great for an auditor trying to trace / follow transactions in an accounting system.
My main issues with Bitcoin are its speculative nature and very real possibility that your wallet can either be lost or stolen. North Korea pays many of its bills by stealing bitcoin accounts.
"Vou invadir o Nordeste, "Seu cabra da peste, "Sou Mangueira......."
I wasn’t a believer at 20,000 or 40 or 60 or 80 but once it hit 100 I changed my way of thinking. Now I’m investing in several different cryptos mostly the blue chips or top ten market caps.
But the learning curve is steep for a non-technical person like myself.
@taropatch99 said:
I try my best not to get involved (invested in) something that I don't understand. My track record is rife with mistakes I've made in the past. I'm still trying to understand the concept of "block chain". If you have a link explaining the concept of "bitcoin for dummies", please share it.
God comes first in everything I do. I’m dedicated to serving Him with my whole life. Coin collecting is just a hobby—but even in that, I seek to honor Him. ✝️
@privatecoin said:
Block chain is entirely faith based just like fiat currency. It has no material value beyond the faith of the people that use it.
I would never collect it. I'm sticking to real estate and coins.
God comes first in everything I do. I’m dedicated to serving Him with my whole life. Coin collecting is just a hobby—but even in that, I seek to honor Him. ✝️
I will never count something out that has the potential to make me money because I don't understand or agree with it
I see buying Bitcoin as like gambling. My guiding principle regarding gambling is to NEVER play a game I don't understand. I don't understand Bitcoin so there you go.
Whoever is careless with the truth in small matters cannot be trusted with important matters.
@Coinscratch said:
Less than two months in and my investments are already up 25%.
Makes me wonder how much crypto does William Devane own?!
Ethereum is up 112% over the last 3 months
Any investment that goes up that fast must be a really safe investment.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
@Coinscratch said:
Less than two months in and my investments are already up 25%.
Makes me wonder how much crypto does William Devane own?!
Ethereum is up 112% over the last 3 months
Yeah, I got in late on the Ethereum. It was down to below 1500 when the bombs were flying.
I've owned it for years. I sell when it crosses $3000 going up and I buy when it crosses $3000 going down. Lol. If it ever goes parabolic, I'm sure I'll be out of it. But I just play with it for fun. And the smart contracts make sense to me.
@Coinscratch said:
Less than two months in and my investments are already up 25%.
Makes me wonder how much crypto does William Devane own?!
Ethereum is up 112% over the last 3 months
Yeah, I got in late on the Ethereum. It was down to below 1500 when the bombs were flying.
I've owned it for years. I sell when it crosses $3000 going up and I buy when it crosses $3000 going down. Lol. If it ever goes parabolic, I'm sure I'll be out of it. But I just play with it for fun. And the smart contracts make sense to me.
I’m still learning and basically just gamble based on what the charts have done and are currently doing, more of a feel player, lol.
I like Tron for long term. Here is their all-time graph since 2017 which has steadily gone up. And even at $.31 today’s rate, you can buy a whole bunch of them for a little bit of money.
@privatecoin said:
Block chain is entirely faith based just like fiat currency. It has no material value beyond the faith of the people that use it.
Blockchain is a technology.
Bitcoin is a new type of fiat currency. Based off the blockchain.
But then again, gold is also fiat. It has value because you believe it has value. Don't believe me? If the end of the world as we know it happens, gold has minimal value as jewelry for the billionaire class. Nobody will be able to use it to buy practical things like land, eggs, beans, and bullets.
So invest in important things. FWIW, my Egg01(k) is down to 1 egg. I still have long positions in some of those other commodities I mentioned.
-----Burton ANA 50 year/Life Member (now "Emeritus")
Comments
I also find it impressive, that the OP started this yesterday at the $80,000 level, and it just hit $89,458, 24 hours later.
Owner/Founder GreatCollections
GreatCollections Coin Auctions - Certified Coin Auctions Every Week - Rare Coins & Coin Values
Casascius are very cool. They have a special place in numismatics and the hate that is here is fairly unwarranted. Seems like cope if anything.
As long as our debts and taxes are payable in dollars, Federal Reserve notes are as real as money gets.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
I own both btc and MSTR. Today was a really good day.
And Detroit is going to allow BTC payments, so is BTC now real to you? El Salvador declared it legal tender so....
Not for me. I don’t need new wealth just need to maintain my current plan. I’m glad you younger folks are figuring out a plan to make up for the now defunct pension for life plan
Agreed. But the IRS prefers checks.
``https://ebay.us/m/KxolR5
I turned this one down when Bitcoin was $48,000. The seller bought it in the early days for $150. Back to physical coin.
``https://ebay.us/m/KxolR5
No. The important thing is the currency in which the debt is denominated, not the currency (or anything else) that is used to settle the debt. As for El Salvador, they use both the USD and BTC as their official currencies. I imagine that taxes and virtually all private debts are denominated in USD. Primarily because it's a much more stable currency, but also because the public has been reluctant to adopt BTC to any appreciable extent. Correct me if I'm wrong.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
How can/will BTC ever be considered a method of payment when it is so volatile? It can swing so wildly in the time it takes to grab a gallon of milk, walk it to the register, and pay for it that the price of the product is basically unknown.
And why is the price of BTC based on the USD if it is "currency?"
It's speculation, that's why, just like any other stock. But there's nothing backing this thing! No one even knows who exactly created it.
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
Yes. I send them a DIGITAL check every year. 🙄
Mostly agreed, but currencies do have market based exchange rates, and that doesn’t mean they’re not actually currencies. Bitcoin is no different in that regard.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
That is true.
I disagree, however, that the debt denomination matters more than accepted methods of payment. You need look no further than the use of non-US coins in early America. All of those currencies were legal tender even though debts were denominated in US dollars.
@jmlanzaf
1. Yay, we agree!
2. Gold has been used for millenia, and it's value is not in question
3. Canadian money will not buy you toilet paper in the United States
4. I will take the faith my country placed in a paper dollar it issued over some digital nonsense that no one is claiming to have invented any day.
That doesn't mean it isn't an "investment." I guess it is a great investment since it is up almost 100% since January. But anything that goes up that fast, can and probably will, fall at the same rate.
I'm just not a believer in this, and I'm not an old guy. (Well, getting there.)
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
Bitcoin will hit 120K very soon. I wonder so high it can go before it crash. Any thoughts?
It's a pyramid (Ponzi) scheme based on make-believe and it will eventually crash. If you got in early and if you get out before it crashes, you will make a lot of money. Otherwise, you won't. No one knows when it will crash but when it happens, it'll come fast. Tulip bulbs anyone?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
I don't think it is Ponzi scheme. I think many companies are buying it that's why the price keep moving up. We might see 120K tomorrow.
It’s not a pyramid scheme as there’s no pyramid structure. It may crash, but anything else that there exists to invest in may also crash. All monetary value is “make-believe.” People have been saying it will crash for more than 15 years, but in that time frame it has instead outperformed everything else.
Gobrecht's Engraved Mature Head Large Cent Model
https://www.instagram.com/rexrarities/?hl=en
I think the physical coins are cool, but they kind of defeat the point of a digital currency.
Not really. The tokens aren't usually meant to trade as coins. They usually have a digital, single use redemption code. That's why you see so many being sold as "redeemed".
Okay, thanks for the info.
120 today.
I try my best not to get involved (invested in) something that I don't understand. My track record is rife with mistakes I've made in the past. I'm still trying to understand the concept of "block chain". If you have a link explaining the concept of "bitcoin for dummies", please share it.
Formerly known as deadmunny
Positive transactions with: slantycouch, dontippet, Gerard, Scrapman1077, USMC_6115, rah1959
$10,000 in bitcoin ten years ago is worth over $4 million today.
Blockchain is an open system that allows anyone to track activity. It's great for an auditor trying to trace / follow transactions in an accounting system.
My main issues with Bitcoin are its speculative nature and very real possibility that your wallet can either be lost or stolen. North Korea pays many of its bills by stealing bitcoin accounts.
"Seu cabra da peste,
"Sou Mangueira......."
I wasn’t a believer at 20,000 or 40 or 60 or 80 but once it hit 100 I changed my way of thinking. Now I’m investing in several different cryptos mostly the blue chips or top ten market caps.
But the learning curve is steep for a non-technical person like myself.
@taropatch99 https://www.gemini.com/cryptopedia/bitcoin-for-dummies-how-does-bitcoin-work-blockchain-btc
God comes first in everything I do. I’m dedicated to serving Him with my whole life. Coin collecting is just a hobby—but even in that, I seek to honor Him. ✝️
Block chain is entirely faith based just like fiat currency. It has no material value beyond the faith of the people that use it.
Paper money eventually returns to its intrinsic value. Zero. Voltaire. Ebay coinbowlllc
I would never collect it. I'm sticking to real estate and coins.
God comes first in everything I do. I’m dedicated to serving Him with my whole life. Coin collecting is just a hobby—but even in that, I seek to honor Him. ✝️
"If a horse can't eat it I ain't playin' on it" (Richie Allen)
I will never count something out that has the potential to make me money because I don't understand or agree with it
I see buying Bitcoin as like gambling. My guiding principle regarding gambling is to NEVER play a game I don't understand. I don't understand Bitcoin so there you go.
Whoever is careless with the truth in small matters cannot be trusted with important matters.
Less than two months in and my investments are already up 25%.
Makes me wonder how much crypto does William Devane own?!
Of course, had I invested right before the last election I would probably be up 200%
Ethereum is up 112% over the last 3 months
Up here in gods Country, we call that: ^North^! RGDS!!
Any investment that goes up that fast must be a really safe investment.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
You mean Amazon? Invidia?
You could snip certain timespans of gold/silver that reflect ridiculous increases/decreases and make the same argument...
Whenever gold makes a big move, gold bugs yell "breakout!". Lol.
Yeah, I got in late on the Ethereum. It was down to below 1500 when the bombs were flying.
I've owned it for years. I sell when it crosses $3000 going up and I buy when it crosses $3000 going down. Lol. If it ever goes parabolic, I'm sure I'll be out of it. But I just play with it for fun. And the smart contracts make sense to me.
I’m still learning and basically just gamble based on what the charts have done and are currently doing, more of a feel player, lol.
And the weak hands got shaken out. Selling this was like selling Amazon in 2003.
I like Tron for long term. Here is their all-time graph since 2017 which has steadily gone up. And even at $.31 today’s rate, you can buy a whole bunch of them for a little bit of money.
Blockchain is a technology.
Bitcoin is a new type of fiat currency. Based off the blockchain.
But then again, gold is also fiat. It has value because you believe it has value. Don't believe me? If the end of the world as we know it happens, gold has minimal value as jewelry for the billionaire class. Nobody will be able to use it to buy practical things like land, eggs, beans, and bullets.
So invest in important things. FWIW, my Egg01(k) is down to 1 egg. I still have long positions in some of those other commodities I mentioned.
ANA 50 year/Life Member (now "Emeritus")