Bitcoin

[DenverTaco07]

Originally Posted by Camaro_QC

Well this means you made 10 billions. We need a proof or that is all BS.

I also made myself millionaire with bitcoins.

I guess my /S (sarcasm) sales pitch like the guys on TV saying they can turn you into a real estate mogul without even using any of your own money, was not very apparent. Maybe you folks up north don't get those TV ads (infomercials)?

the dollar amount i posted would only mean anything if I had used a 1 or greater in the front.

sorry to disappoint but I don't really have a book to sell you.

[Camaro_QC]

Originally Posted by DenverTaco07

I guess my /S (sarcasm) sales pitch like the guys on TV saying they can turn you into a real estate mogul without even using any of your own money, was not very apparent. Maybe you folks up north don't get those TV ads (infomercials)?

the dollar amount i posted would only mean anything if I had used a 1 or greater in the front.

sorry to disappoint but I don't really have a book to sell you.

Haha don't worry I was joking as well!

And nope, we don't have the same TV ads as you!

But that is sad, your book started to be interesting!

[pyroguy]

Originally Posted by DenverTaco07

You have to buy my book for that info.






But, to give you some idea, it has a lot of zeros. something like:

$0000000000.00

Originally Posted by DenverTaco07

I guess my /S (sarcasm) sales pitch like the guys on TV saying they can turn you into a real estate mogul without even using any of your own money, was not very apparent. Maybe you folks up north don't get those TV ads (infomercials)?

the dollar amount i posted would only mean anything if I had used a 1 or greater in the front.

sorry to disappoint but I don't really have a book to sell you.

I wasn't meaning to insult, just strike up continued conversation. I'm always interested to hear and learn about how people became millionaires because one day I'd like to be one and the best way I know to become one is to do intelligent things like millionaires. So far the best way I've seen to do that isn't cryptocurrency, but that's not to say that someone couldn't get rich off of cryptocurrency. However, the average person isn't likely to because of the extreme volatility.

My number 1 hangup on cryprocurrency is that it has no backing. Companies that you invest in their stocks have physical assets, precious metals are a commodity and have a physical item to hold or have when you purchase, cryptocurrency is a digital currency that is as valuable as what someone wants to put into a computer. It doesn't have anything that I can hold or physically use. It's one major data breach or server crash from people loosing all of their virtual money. Of course this could be argued with modern day banks except they have backed up files and physical assets to try and cover these types of things in the event of an issue.

[DenverTaco07]

Originally Posted by pyroguy

I wasn't meaning to insult, just strike up continued conversation. I'm always interested to hear and learn about how people became millionaires because one day I'd like to be one and the best way I know to become one is to do intelligent things like millionaires. So far the best way I've seen to do that isn't cryptocurrency, but that's not to say that someone couldn't get rich off of cryptocurrency. However, the average person isn't likely to because of the extreme volatility.

My number 1 hangup on cryprocurrency is that it has no backing. Companies that you invest in their stocks have physical assets, precious metals are a commodity and have a physical item to hold or have when you purchase, cryptocurrency is a digital currency that is as valuable as what someone wants to put into a computer. It doesn't have anything that I can hold or physically use. It's one major data breach or server crash from people loosing all of their virtual money. Of course this could be argued with modern day banks except they have backed up files and physical assets to try and cover these types of things in the event of an issue.

no insults taken here.

I see cryptocurrency as a service, so there is value, like Facebook(?) - albeit an unethical one, i.e. hiding / laundering of money.

There are many who've made millions, I think it's too late for most, unless you find a way to mine it efficiently.

The underlying technology, blockchain, seems to be on the minds of many leaders of many industries, so there's some opportunity there, if you know blockchain.

[pyroguy]

Originally Posted by DenverTaco07

no insults taken here.

I see cryptocurrency as a service, so there is value, like Facebook(?) - albeit an unethical one, i.e. hiding / laundering of money.

There are many who've made millions, I think it's too late for most, unless you find a way to mine it efficiently.

The underlying technology, blockchain, seems to be on the minds of many leaders of many industries, so there's some opportunity there, if you know blockchain.

But what if it goes belly up? If a company goes under it has assets that can be sold for value. Cryptocurrency is literally just a number in a computer or series of computers. There's absolutely nothing backing it. Even countries with their own currency have assets whether it be backed with precious metals, land, or other tangible items. If your hard drive crashes and that's where you had all of your cryptocurrency saved, you're screwed unless you can recover the hard drive. Even Facebook has physical facilities, equipment, and other assets to sell off if it goes under.

[DenverTaco07]

Originally Posted by pyroguy

But what if it goes belly up? If a company goes under it has assets that can be sold for value. Cryptocurrency is literally just a number in a computer or series of computers. There's absolutely nothing backing it. Even countries with their own currency have assets whether it be backed with precious metals, land, or other tangible items. If your hard drive crashes and that's where you had all of your cryptocurrency saved, you're screwed unless you can recover the hard drive. Even Facebook has physical facilities, equipment, and other assets to sell off if it goes under.

i can't disagree at all.

[Vegas Bound]

Watch for catastrophic events in the market. I bought $10K of American Airlines stock after they filed BK for $0.19 per share. It's current trading just over $30. And it is in a Roth IRA account.

[brianwil]

Originally Posted by ChrisBlair

It seems like a commodity that has only itself- it's own intrinsic value of being a decentralized currency- that can generate "worth"

Investing in a currency, as its own concept, means that the value of the currency comes from its accepted trading value. What are the tangibles that guarantee bitcoin's worth? It seems to me that it relies on a poor overall worldwide economy bitcoin futures nedir to generate value, instead of strong individual economies. Then too since it has the properties of 'currency' but also of a commodity that is traded, it has the potential of being a bubble that will burst.

To me this seems like digging a cave under your house- eventually the house might fall down.

thanks for the information

[BLU DUCE]

Scam

[Rabid Rabbit]

Originally Posted by trademaster

Really, nobody? This decentralized, "currency" has gone from $0.50 to nearly $400 in 3 years and nobody has any opinions? This could very well be one of the most influential technologies since the advent of the Internet.

You didn't even imagine how right your post appeared to be It is interesting that for almost a decade lots of high-quality hackers tried to hack blockchain but they failed. I smile to people who say that BTC is backed by nothing unlike the dollar. I see no point in trying to change the minds of people who can't see the obvious things. If you are looking for profitable ways of investing I would advise you to read this article about derivatives https://libertex.com/blog/what-are-derivatives-finance, their advantages and disadvantage, written in plain English.