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Why? If he's making money, it seems he knows what he's doing. Now I hope he's not investing y'all's entire life savings into any coins, but if you're smart, you can make more money with a lower risk than gambling in Vegas!
If you're smart and willing to put in the requisite effort, you can become very wealthy very quickly trading crypto. Doesn't matter what the price of BTC is in US dollars, either, because you're not trading in dollars.
I've seen it happen. Multiple times. I'd be one of those if I were disciplined and focused enough.
People who start threads claiming the end of crypto because a bitcoin is "only" valued at $30,000.00 are morons. Regardless of where you think crypto is going, right now, it's creating enormous opportunities for those with some vision and who are willing to take some amount of risk.
Why? If he's making money, it seems he knows what he's doing. Now I hope he's not investing y'all's entire life savings into any coins, but if you're smart, you can make more money with a lower risk than gambling in Vegas!
You don't make money on something like Bitcoin until you sell it. I don't trust it. I'd rather he buy stocks or another rental home.
Reminds me of the days when beenie babies were the hype.. a sack full of beans with some cloth sewed on it and went for a chunk of change if it was so called rare. It's a sack full of beans folks!
Bit coin is a pyramid scheme . the ones that bought it low and sell that worthless commodity at a high price gets rich on investors who bought high..
You don't make money on something like Bitcoin until you sell it. I don't trust it. I'd rather he buy stocks or another rental home.
Quote:
Originally Posted by Taratova
*SNIP*
Bit coin is a pyramid scheme . the ones that bought it low and sell that worthless commodity at a high price gets rich on investors who bought high..
How is any of this different than the stock market? You don't really make money in the stock market until you sell. Sure, you might get a few cents of a dividend here and there, but that's it. Unless you have enormous holdings, dividends mean nothing. The reason so many people are into crypto is the volatility, if you're watching the market, you can make considerable profits by just buying and selling at the right times. I admit, for me personally, there's a definite excitement to it and rather than seeing my stocks grow by cents per week, I'm watching my crypto go up and down by dollars per hour some times.
Quote:
Originally Posted by Taratova
Bit coin is a pyramid scheme . the ones that bought it low and sell that worthless commodity at a high price gets rich on investors who bought high..
How is that any different than people that invested in Google and Amazon in the early 2000s?
Bitcoin is an anonymously made digital ledger. There are over 10,000 of those things and growing daily, Bitcoin just happens to be the favorite one at the moment.
Quote:
Originally Posted by MattCW
How is any of this different than the stock market? You don't really make money in the stock market until you sell. Sure, you might get a few cents of a dividend here and there, but that's it. Unless you have enormous holdings, dividends mean nothing. The reason so many people are into crypto is the volatility, if you're watching the market, you can make considerable profits by just buying and selling at the right times. I admit, for me personally, there's a definite excitement to it and rather than seeing my stocks grow by cents per week, I'm watching my crypto go up and down by dollars per hour some times.
How is that any different than people that invested in Google and Amazon in the early 2000s?
Stocks pay a dividend and represent a real company in existence.
Bitcoin is unsustainable. Due to the blockchain, energy consumption is enormous to authenticate a single transaction...this means that a single Bitcoin transaction pollutes as much as 1.7 million VISA transactions. Right now the "miners" pay that cost and it eats half their gains from mining Bitcoin. What happens as mining keeps getting reduced...eventually down to zero? What happens if transactions double? Or if the price gets cut in half? Who pays the transaction cost, which is about $206 per single Bitcoin transaction in electricity?
Unsustainable. Why ride a ride that you know eventually has to crash?
Why is my local tv news running more stories about cryptocurrency all of a sudden? What is it, where can you buy it, etc. Like it's coolest new thing everyone needs to know about it.
Are they preparing to switch US dollar to crypto, and getting public ready? It's just digital money. I don't see a clamor for getting rid of cash and coin. But I do see signs at stores that they are "low on coins". What?
If this great reset thing is real, all banks will switch to digital cash at the same time. Then another virus will sweep the planet and the world bank will require everyone to have a vaccine passport- even IF you are un-vaccinated!
Then, they will have total control of your life. If this great reset thing is real. IDK
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