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Just a suggestion. And I mean this politely because you are a respected poster. Maybe if you don't understand it you shouldn't be giving others advice on whether or not to invest in it. Maybe some people who invested in it actually do understand it.
i don't see where i told anyone else what to do ? do you see something i don't ?
i don't see where i told anyone else what to do ? do you see something i don't ?
Perhaps I am wrong but haven't you been negative on Bitcoin in other threads? If not, I apologize.
There is an attitude that people who invest in Bitcoin are clueless and haven't done any research, whereas those who are not invested in Bitcoin know better and are knowledgeable investors.
Jobster, about a year ago you swore 2017 would be a disaster unlike anything seen before in financial markets. It was a type of run, run for the hills, the sky is falling yell. That didn't happen (obviously).
Even Mr. BMW was strongly advising people the day after the election to bail out completely and short the market and put money into gold/GLD.
Good thing that people ignore B&W all or nothing type prognostications.
Everyone *knows* there will be a crash some day. That's not a mystery. Why? Because that's just how the markets have always been. Cycles. No one knows when. Not you, not anyone. You don't have to be in the market or at least not to the extent you are. No one is holding a gun to your head. You don't like the game but you're playing the game even though you hate the game, hate everything about it, even hate that it's working for you. Seriously, there's no reason to be so miserable--cash out, go plant your toes in the sand, or do something that you can at least get some pleasure from while you're still inhabiting this earth.
And for those who are convinced they are experts who know exactly what will happen and when it will happen and how it will shake out...that's called guessing and anyone can guess and most people are wrong.
The best advice I've gotten is to check equity allocation once or twice a year to make sure % of equities is aligned to age, timeline, and ability to handle risk. Allocation is correct when you can sleep at night and not panic when uncertain and/or markets tumble.
i don't discuss bitcoin . it has been of no interest to me . only thing i said and i still stand by it is "TULIP CRAZE "
Heard a really interesting and unexpected comment from Art Cashin on digital currency two days ago:
Quote:
Art also talked about bitcoin mania. He said it may not work out the way the bitcoin enthusiasts think it will.
The government will likely want to use the blockchain as a way to transition to a cashless society and use it as a way to keep track of where the money is, Cashin notes. This is the opposite of what many believe the intent of bitcoin was, which was to keep most transactions private and away from the government, he added.
Federal Reserve may even help someone develop a digital currency.
i don't discuss bitcoin . it has been of no interest to me . only thing i said and i still stand by it is "TULIP CRAZE "
That hsit is coming back. A tulip is forever. When all of these space flights come and they need plants that will definitely grow year after year....they're going with a tulip.
...oh, the years are different? Whatever.
For giggles I went on to Overstock.com. I hadn't been there in a very long time. They sell fake gold coins, which apparently you can pay with some crypto currencies. They have some knock-off products. They also do have some USED certified rolex watches. Certified by what I'm not sure, but I didn't see any signatures viewable.
The whole thing gave me a sense of a pawn shop...in a SE Asian street market.
Anyway, my guess is we're going to have more of this fake currency crap being thrown at us....as sanctions continue to get tougher. My guess is a lot of this is coming out of Russia, China, N. Korea and Venezuela from different groups that can hire lots of cheerleaders to jump online and help steer people towards these "investments". The reality is they are running out of ways to get real currency for their government.
The initial pioneers likely were toying with something, but some terrorist as a government group likely spotted ways of cornering the market and decided to employ some other tactics. Do yourself a favor and steer clear of this initial run. Let the mania pass and pop....then, like the .com carnage in 2003, you can sift through the remnants to start putting together what makes sense.
Bitcoin and other crypto coins are in a class of its own when it comes to investment risk.
Bitcoin: started out 0, then A pays B x on speculation of value appreciation, with x>0. Then bitcoin crashes, -x + x =0 overall, back to its intrinsic value. Only some gained, some lost.
Other investment backed by economic activities: value gains over time due to human factor. Value later y >> x at the beginning.
For giggles I went on to Overstock.com. I hadn't been there in a very long time.
My last purchase at Overstock was over a year ago. A very sturdy cat tree. I paid with a CC. I shop there maybe once every 2 to 3 years. I read that people were buying their stock to get exposure to bitcoin because Overstock is a playah in BTC.
it has to be a crappy feeling paying with bitcoin only to realize a few days later you spent 10k for socks and underwear as bitcoin goes for another roller coaster ride
Heard a really interesting and unexpected comment from Art Cashin on digital currency two days ago:
Art also talked about bitcoin mania. He said it may not work out the way the bitcoin enthusiasts think it will.
The government will likely want to use the blockchain as a way to transition to a cashless society and use it as a way to keep track of where the money is, Cashin notes. This is the opposite of what many believe the intent of bitcoin was, which was to keep most transactions private and away from the government, he added.
Starts at 6:15 at above link. He posited this as a very real consideration for the future of digital currencies, generally.
I don't know enough about the issue to even begin to conjecture on the impact of bitcoin and its ilk.
Great link introducing a perspective worth pondering.
"The Fed itself may wind up helping somebody develop a digital currency; that's the next thing I think we should watch for."
Sounds like they may be looking to invent a FedCoin. A "BitCoin" with government endorsement?
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FedCoin?
A "BitCoin" with government endorsement?
