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Old Today, 12:57 PM
 
11,314 posts, read 4,198,727 times
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Any Bitcoin fans around here?

I have been following this at a distance for years, but it looks like pretty much of a Ponzi scheme to me. Of course one of you will want to suggest that fiat money systems have a lot of these same sorts of "House of cards" Ponzi scheme type characteristics. Maybe so, but we have to have money of some sort, as we are not going back to the barter system, regardless of what the weaknesses of our monetary system are.

But the concept of an alternative "currency" sure is interesting. So I am into it from an intellectual curiosity perspective.

Bitcoin and other cryptocurrencies have been notoriously volatile. Their values skyrocket and then plunge and then climb back up again. You can make money fast and you can lose money fast. Which is apparently what is happening right now, for those people who have money in Bitcoin and other cryptocurrencies.

Quote:
Cryptos Just Puked, Miss Finland Warns Women Wary Of Bitcoin Risk

Echoing last Wednesday's sudden collapse, cryptos all just got monkey-hammered lower in seconds after a positive week...Bitcoin is leading the drop, but the whole space is suddenly down...And Bitcoin is holding above $10k as it follows a similar path to last week's slow pump and sudden dump...

The good news is that, as CoinTelegraph reports, Miss Finland is a big bitcoin fan and tries to explain why it is not more widely held. (Picture at the story link above) In a on Sept. 5, Miss Universe Finland 2015 winner, Rosa-Maria Ryyti, argued Bitcoins risk factor made it more appealing to men. She was responding to a query by analyst and Cointelegraph contributor, Filb Filb, who asked followers why the Bitcoin community was overwhelmingly male.

Women are more risk-conscious in general and often go for a slow & steady investment strategy, Ryyti wrote, adding: "The current general perception of Bitcoin in the msm makes it even less probable for the average women (and men) to get involved. Data currently available suggests around 90% of Bitcoin users are male. The phenomenon has frequently sparked debate, with dedicated structures set up in order to increase female involvement.
This looks like it is just barely less risky than a nice game of roullete at the nearest casino. And this is supposed to be an "Alternative currency"?

I do not think so. Maybe it will continue to evolve, but so far I am not impressed. But Miss Finland is hot, even if the cryptocurrency markets currently are not.
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Old Today, 01:00 PM
 
Location: Wouldn't you like to know?
389 posts, read 50,299 times
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bitcoin "puked" when it was around $3000 usd... that isn't today or anytime super recent.
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Old Today, 01:26 PM
 
7,719 posts, read 4,419,724 times
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I mostly just kick myself for not investing in it early. I knew about it early, had the money, but was too risk adverse. Could be retired right now.
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Old Today, 01:29 PM
 
11,314 posts, read 4,198,727 times
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Quote:
Originally Posted by notnamed View Post
I mostly just kick myself for not investing in it early. I knew about it early, had the money, but was too risk adverse. Could be retired right now.
You could also be living in a tent in skid row in Los Angeles right now, surrounded by piles of human feces. As a result of investing at the wrong time in Bitcoin.
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Old Today, 01:36 PM
 
Location: SM
25,842 posts, read 9,977,626 times
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Diversify your cryptos and routinely capitalize on the dollar exchange rates when they favor you (Binance or Bittrex).

You'll be fine.
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Old Today, 01:39 PM
 
Location: SM
25,842 posts, read 9,977,626 times
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Quote:
Originally Posted by Spartacus713 View Post
You could also be living in a tent in skid row in Los Angeles right now, surrounded by piles of human feces. As a result of investing at the wrong time in Bitcoin.
There was a right time though and it was mind-boggling profitable if you had the foresight or the luck.

Unfortunately I did not.
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Old Today, 01:39 PM
 
Location: Seattle
1,455 posts, read 307,734 times
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Mostly it's a waste of perfectly useful electricity.
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Old Today, 01:39 PM
 
11,314 posts, read 4,198,727 times
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Quote:
Originally Posted by No_Recess View Post
Diversify your cryptos and routinely capitalize on the dollar exchange rates when they favor you (Binance or Bittrex).

You'll be fine.
I want to hear what Miss Finland has to say about that, first.
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Old Today, 01:42 PM
 
Location: SM
25,842 posts, read 9,977,626 times
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Quote:
Originally Posted by rjshae View Post
Mostly it's a waste of perfectly useful electricity.
It's a way to avoid government interference as well as actually funding the government...to a certain degree...which is why it's very appealing to anarchists like myself and libertarian-types.
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Old Today, 01:43 PM
 
Location: SM
25,842 posts, read 9,977,626 times
Reputation: 9963
Quote:
Originally Posted by Spartacus713 View Post
I want to hear what Miss Finland has to say about that, first.
LOL.

Well, she's Miss Finland and I'm a guy on the internet. I wouldn't dip my toe in based on either of us.

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