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Bitcoin lol

 
Old 05-14-2019, 03:47 AM
  #1  
7thvet
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Default Bitcoin lol

I'm making a killing.
Woot!
One of my stocks is GBTC.
DO YOUR OWN DD.
Not a reco.
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Old 05-14-2019, 05:59 AM
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And all in on those Penny Weed Stocks now...
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Old 05-14-2019, 06:51 AM
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The bitcoin people I talk to are convinced its headed to 10k.
I don't know how that would effect GBTC.
Probably would add about 20% is my guess.
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Old 05-14-2019, 07:07 AM
  #4  
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its going to be volatile for a while, possibly a few more years. I am in a buy and hold position with money I wouldn't mind losing in the event things went sideways. thus far its doing well and there is optimism as more financial folks opt in to the idea.
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Old 05-14-2019, 07:31 AM
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Owning bitcoin is like getting a ******* from hooker with aids.
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Old 05-14-2019, 08:44 AM
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Originally Posted by jim2527 View Post
Owning bitcoin is like getting a ******* from hooker with aids.
Still blows my mind that this crap is actually worth anything. No ties to anything, not backed by a government, not backed by tangible assets, it's just a number out there.
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Old 05-14-2019, 08:50 AM
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Originally Posted by LayZ View Post
Still blows my mind that this crap is actually worth anything. No ties to anything, not backed by a government, not backed by tangible assets, it's just a number out there.
I am curious, which tangible asset backs your transaction when you swipe a visa card? Also, which tangible asset makes a piece of paper worth more because it has a ten written on it in lieu of a one?

Last edited by flange; 05-14-2019 at 08:51 AM.
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Old 05-14-2019, 08:53 AM
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Originally Posted by flange View Post
I am curious, which tangible asset backs your transaction when you swipe a visa card? Also, which tangible asset makes a piece of paper worth more because it has a ten written on it in lieu of a one?
The product you hold in your hand and the full faith and credit of the United States government.
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Old 05-14-2019, 09:05 AM
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Originally Posted by PatternDayTrader View Post
The product you hold in your hand and the full faith and credit of the United States government.
I realize that churches have been selling faith for many years, however by definition it is not an asset class.

Last edited by flange; 05-14-2019 at 09:06 AM.
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Old 05-14-2019, 09:12 AM
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Originally Posted by flange View Post
I realize that churches have been selling faith for many years, however by definition it is not an asset class.
Lol.
I understand your point but no one is going to give away their cash, even if its only backed by faith, and they wont be giving away their bitcoins either.

Last edited by PatternDayTrader; 05-14-2019 at 09:18 AM.
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Old 05-14-2019, 09:13 AM
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kenba
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Originally Posted by flange View Post
I am curious, which tangible asset backs your transaction when you swipe a visa card? Also, which tangible asset makes a piece of paper worth more because it has a ten written on it in lieu of a one?
Then why do you quote how much you make in $'S instead of bit coins.
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Old 05-14-2019, 09:23 AM
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Originally Posted by kenba View Post
Then why do you quote how much you make in $'S instead of bit coins.
That is a silly argument. If you mean me specifically, I am not invested solely in bitcoin. I am invested in multiple currencies and technologies in the sector. The American dollar is utilized as the global standard. Do people in France quote how much they earn in francs or dollars? What about Russians? BTC is just another currency. It has uses beyond what paper currency does. Think about it, if paper is such a good sound, all encompassing asset class, why do most people have a credit card, an ATM card? expand your horizons lad.
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Old 05-14-2019, 09:25 AM
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Something I think all bitcoin people/traders should keep in mind.
This time around, people are much smarter about this idea. So you can expect the people who intend to hold it, wont be as easily shaken out.
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Old 05-14-2019, 09:25 AM
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Originally Posted by PatternDayTrader View Post
Lol.
I understand your point but no one is going to give away their cash, even if its only backed by faith, and they wont be giving away their bitcoins either.
Why not? some say they have zero par value?
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Old 05-14-2019, 09:27 AM
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Originally Posted by flange View Post
Why not? some say they have zero par value?
Because sometimes faith is enough. This seems to be one of those times.
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Old 05-14-2019, 09:31 AM
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Originally Posted by PatternDayTrader View Post
Something I think all bitcoin people/traders should keep in mind.
This time around, people are much smarter about this idea. So you can expect the people who intend to hold it, wont be as easily shaken out.
people should also understand that there is more and more acceptance each passing day. There are areas, while small, where bitcoin ATM's are available. There are stores which accept the "currency". More and more this is getting adopted, even by industry giants who did nothing but shun it just a few years ago. There is proof of concept on use, and to some degree value.
Think about the weed industry. There have been tremendous gains of late in that arena, BUT traditional banks are scared shitless of this because of regulatory concerns. This opens opportunity for major players in BTC to use their value to finance construction, or otherwise build value in lieu of "keeping money In a mattress"
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Old 05-14-2019, 09:37 AM
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Originally Posted by flange View Post
people should also understand that there is more and more acceptance each passing day. There are areas, while small, where bitcoin ATM's are available. There are stores which accept the "currency". More and more this is getting adopted, even by industry giants who did nothing but shun it just a few years ago. There is proof of concept on use, and to some degree value.
Think about the weed industry. There have been tremendous gains of late in that arena, BUT traditional banks are scared shitless of this because of regulatory concerns. This opens opportunity for major players in BTC to use their value to finance construction, or otherwise build value in lieu of "keeping money In a mattress"
From a fundamental perspective, those are all important points, but that's not what will propel it over its old high (if its going to get there).
Frankly, the first time around, I had no interest in it, but that is changing. There might really be something worthwhile here.
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Old 05-14-2019, 09:50 AM
  #18  
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pass
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Old 05-14-2019, 12:18 PM
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Too bad we don't have a bitcoin thread already...oh wait.
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Old 05-14-2019, 12:21 PM
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Originally Posted by flange View Post
people should also understand that there is more and more acceptance each passing day. There are areas, while small, where bitcoin ATM's are available. There are stores which accept the "currency". More and more this is getting adopted, even by industry giants who did nothing but shun it just a few years ago. There is proof of concept on use, and to some degree value.
Think about the weed industry. There have been tremendous gains of late in that arena, BUT traditional banks are scared shitless of this because of regulatory concerns. This opens opportunity for major players in BTC to use their value to finance construction, or otherwise build value in lieu of "keeping money In a mattress"
What are they accepting, something that has no intrinsic value? Why? One day they will be worth nothing. Gold is a storehouse of value. In 1929 one ounce of gold would buy you a tailored suit or about 11 barrels of crude oil. Today one ounce of gold will buy you a tailored suit or about 11 barrels of crude oil.
I can see people trading BTC to take money out of this market but buying and holding is a losing proposition because one day it will be worth nothing.

Last edited by jfb; 05-14-2019 at 12:23 PM.
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