I just bought $200,000 of Bitcoin

[The Hammer2021]

1 hour ago, Longwood50 said:

Well not really.  A ponzi or pyramid scheme entices new investors to pay off old ones.  Bitcoin does not require new buyers to enter the market to pay off old ones.  

It is a classic example of really what occured during the dot.com era.  Dot.com companies never earned a penny and many were merely "ideas".  " The value of a company is determined by its "anticipated" future earnings.  So investors buy Microsoft, Apple, Amazon, Netflix, at a price they believe is fair for what their anticipated future earnings will be.   If the company is successful, and earnings increase the value of the stock rises because the company is earning money.  

Bitcoin earns nothing.  It is really nothing more than a figment of someone's creation that they very masterfully have created from nothing and have people buying it despite the fact it hatched from nothing and has nothing tangible about it. 

However to "make money" in Bitcoin the only way possible is for a person to buy it and sell it to another person at more money.  Bitcoin can do nothing in the way of improving its earnings to enhance its value.  It is strictly what occured in the dot.com era where companies not making a penny sold each day for more than the previous day not based on any fundamentals but strictly on the premise that there would always be another greater fool willing to pay more. 

Can bitcoin go on?  Who knows.  I only know that it is pure specualtion.  

Here is what Warren Buffet who many consider the most renowned investor or all time said about cryptocurrencies. 

Warren Buffett has made his opinion on crypto crystal clear over the years. The billionaire investor says he doesn't own any and he never will. He claims Bitcoin (BTC) and other cryptocurrencies have basically no value, and all you can do with them is sell them to somebody else.Jan 27, 2565 BE

I did NOT use the word Ponzi scheme. Pyramid schemes in the 80s were promoted as investments and savings schemes. But the only investment was the money contributed by people. I specifically referred to your last paragraph.

[Pravda]

Is it possible that this cr@p thread is one of my longest yet?

[Sametboy2019]

5 minutes ago, Pravda said:

Is it possible that this cr@p thread is one of my longest yet?

Stop adding to it then

[Sparktrader]

Up 5,000

 

Nearly 15% in under 2 days

Thats great not cr ap

[Sparktrader]

43,000 target

[Neeranam]

41 minutes ago, Pravda said:

Is it possible that this cr@p thread is one of my longest yet?

Why did you sell some of the BTC? 

 

It's actually a very interesting thread as it attracted the Bitcoin boat missers. They see BTC going down and they seem to rejoice and try inanely to use the same arguments against BTC that they heard 10 years ago when it was a speculative asset. They have missed out and try to justify their poor decision by getting all excited when it drops 30% in a week. Well haters, that's nothing. 

 

A couple of the haters even said that they are here to warn people about how they can lose money. The truth is that no one who has bought bitcoin and held it for a few years has lost. 

 

Buy and HODL. Not for a month but a couple of years and you will make life-changing money. 

[Pravda]

46 minutes ago, Sametboy2019 said:

Stop adding to it then

Thank you for your contribution

[Sparktrader]

3 minutes ago, Neeranam said:

Why did you sell some of the BTC? 

 

It's actually a very interesting thread as it attracted the Bitcoin boat missers. They see BTC going down and they seem to rejoice and try inanely to use the same arguments against BTC that they heard 10 years ago when it was a speculative asset. They have missed out and try to justify their poor decision by getting all excited when it drops 30% in a week. Well haters, that's nothing. 

 

A couple of the haters even said that they are here to warn people about how they can lose money. The truth is that no one who has bought bitcoin and held it for a few years has lost. 

 

Buy and HODL. Not for a month but a couple of years and you will make life-changing money. 

True

Or trade. 15% in under 24 hrs.

Im having fun. 

 

Tulips lasted 1 year useless

Bitcoin 13 years.

 

The negative chaps still think its a bubble. Bubbles last 1 year.

 

Fiat loses 3% to 7% if gov is hopeless. Most are.

[Sparktrader]

Set up 200 day linear regression on Bitcoin. Tells you a lot. Same any stock.

[Neeranam]

5 hours ago, Longwood50 said:

What the heck are you talking about. 

Value is always a perception.  However some items are "tangible"  A house, car, clothing, gold, wheat, a company, machinery, equipment. 

Bitcoin is an "intangible"  It exists only in peoples minds.  It is not backed by any sovereign nation.   Now some intangibles have value.  I may have a patent, or trademark, an option to buy property or stock.   Goodwill in a business is an "intangible"  A buyer may pay more for a business that has a good reputation and long standing customer base than one with identical hard assets but a poor reputation and a short history in business. 

As I said, some people may make money trading bitcoin.  Perhaps it might even be long lasting.  However I believe that any person who invests soley on the premise that "it may rise in value" because some other fool is willing to pay more for it, is not "investing" they are speculating.  

Companies like Apple "make products" and services.  They also rise on "speculation" of future profits.  Bitcoin has no profits.  It goes up or down strictly based on the speculation that it will go up, or down.  I might make money going to Las Vegas and betting on black versus red but that doesn't mean it is an investment.   At some point traders in Bitcoin will sense that the last fool is in, and they will rush to sell.  The trip down will be far faster than the trip up. 

Bitcoin is just one cryptocurrency. I think you said earlier that you know little about it. 

 

Bitcoin is the gold, or store of value. Other are used for utility. 

 

Actually, can't really compare gold to BTC

 

 

[Pravda]

Almost there....

[Sparktrader]

[steven100]

 

[Longwood50]

15 hours ago, Neeranam said:

Bitcoin is just one cryptocurrency

1. Bitcoin is a figment of peoples imagination.  It didn't exist before and someone just magically started it.

2. Unlike USD, Thai baht, Euro's or any other currency it is not backed by any sovereign government. 

3. I never said you could not make money from buying Bitcoin.  Obviously many already have.  What I did say is that the "only" and I repeat "only" way that bitcoin increases in value is that there is a greater fool willing to pay even more.  That differs from companies that can improve their profitability over time, or for that matter other currencies which fluctuate in demand depending on economic or political happenings. 



Since bitcoin is an "intangible"  you can not touch it, see it, feel it, build anything with it, its value is purely a matter of perception.  If and when the marketplace senses the specualtion in cryptocurrency is waining there will be a mad rush for the exists and its value will plummet.  When will that occur?  Who knows.  

However as a former head of a Trust Division for a major bank plus working for both two of the largest investment firms in the world, Merrrill Lynch and UBS Painwebber I will share with you this truism, often repeated by investment professionals. 

1. Bulls can make money
2. Bears can make money
3. Pigs get slaughtered 

If you have made money with Crypto currency take your money and run.  Dont expect that the tree will always continue to grow to the stars.


This is from the investment advise company widely hailed known as the Motley Fool. 



https://www.fool.com/ext-content/why-this-one-stock-set-to-make-money-on-bitcoin-at/?utm_source=google&utm_medium=contentmarketing&utm_campaign=bb-bitcoinboom&aid=9528&paid=9528&waid=9528&source=esagglwdg0215888&psource=esagglwdg0215888&wsource=esagglwdg0215888&gclid=Cj0KCQiAmeKQBhDvARIsAHJ7mF6AxGEdO5X8hZuPbWjO6dNkxLk6c-awFa7hCjVo15BpLJixG6oAXFIaAhcuEALw_wcB&testId=a-sa-btc-boom-2&cellId=0&campaign=sa-bitcoin-boom

Edited February 26, 2022 by Longwood50

[Sparktrader]

Just now, Longwood50 said:

1. Bitcoin is a figment of peoples imagination.  It didn't exist before and someone just magically started it.

2. Unlike USD, Thai baht, Euro's or any other currency it is not backed by any sovereign government. 

3. I never said you could not make money from buying Bitcoin.  Obviously many already have.  What I did say is that the "only" and I repeat "only" way that bitcoin increases in value is that there is a greater fool willing to pay even more.  That differs from companies that can improve their profitability over time, or for that matter other currencies which fluctuate in demand depending on economic or political happenings. 

This is from the investment advise company widely hailed known as the Motley Fool. 

Since bitcoin is an "intangible"  you can not touch it, see it, feel it, build anything with it, its value is purely a matter of perception.  If and when the marketplace senses the specualtion in cryptocurrency is waining there will be a mad rush for the exists and its value will plummet.  When will that occur?  Who knows.  

However as a former head of a Trust Division for a major bank plus working for both two of the largest investment firms in the world, Merrrill Lynch and UBS Painwebber I will share with you this truism, often repeated by investment professionals. 

1. Bulls can make money
2. Bears can make money
3. Pigs get slaughtered 

If you have made money with Crypto currency take your money and run.  Dont expect that the tree will always continue to grow to the stars.
https://www.fool.com/ext-content/why-this-one-stock-set-to-make-money-on-bitcoin-at/?utm_source=google&utm_medium=contentmarketing&utm_campaign=bb-bitcoinboom&aid=9528&paid=9528&waid=9528&source=esagglwdg0215888&psource=esagglwdg0215888&wsource=esagglwdg0215888&gclid=Cj0KCQiAmeKQBhDvARIsAHJ7mF6AxGEdO5X8hZuPbWjO6dNkxLk6c-awFa7hCjVo15BpLJixG6oAXFIaAhcuEALw_wcB&testId=a-sa-btc-boom-2&cellId=0&campaign=sa-bitcoin-boom

People not buying are the fools.

[Sparktrader]

https://www.fool.com/investing/2022/02/22/top-2-cryptocurrencies-to-buy-and-hold-forever/

[Longwood50]

Just now, Sparktrader said:

People not buying are the fools

1. Bulls can make money
2. Bears can make money
3. Pigs get slaughtered.

If you have made money with it, I suggest at some point you take your profits and smile. 

There were those who likewise saw the great investment returns generated by Bernie Maddoff and suggested those who did not invest with him were likewise fools. 

https://www.usatoday.com/story/money/2021/04/14/bernie-madoff-ponzi-scheme-victims-list-includes-celebrities/7223467002/

[Sparktrader]

7 minutes ago, Sparktrader said:

Dont expect that the tree will always continue to grow to the stars.

You posting this nonsense 10 times.

 

 

[Sparktrader]

4 minutes ago, Longwood50 said:

1. Bulls can make money
2. Bears can make money
3. Pigs get slaughtered.

If you have made money with it, I suggest at some point you take your profits and smile. 

There were those who likewise saw the great investment returns generated by Bernie Maddoff and suggested those who did not invest with him were likewise fools. 

https://www.usatoday.com/story/money/2021/04/14/bernie-madoff-ponzi-scheme-victims-list-includes-celebrities/7223467002/

He ran a ponzi scheme.

[Sparktrader]

10 minutes ago, Sparktrader said:

and when the marketplace senses the specualtion in cryptocurrency is waining there will be a mad rush for the exists and its value will plummet.  When will that occur?  Who knows.  

It seems you know nothing. It has crashed many times and recovered.

 

 

[Sparktrader]

 

 

 

[Sparktrader]

Billionaire venture capitalist and bitcoin investor Tim Draper is sticking by his prediction that bitcoin will reach $250,000 by the end of 2022 or early 2023 despite the cryptocurrency’s wild swings in value and the turmoil around its environmentally unfriendly energy usage

[Sparktrader]

 

 

Early investor in twitter hotmail tesla etc

[Sparktrader]

 

[Sparktrader]

[davidst01]

On 2/24/2022 at 11:05 PM, lkn said:

Please elaborate. I think it is you who do not understand that a hardware wallet does not actually hold any coins, it holds a private key, and this private key can be stored in multiple locations, even multiple hardware wallets (most have the option to transfer an existing private key to the wallet).

 

And having your private key in a single hardware wallet is an extreme risk, it can break or be stolen. Just last week, a friend of mine got his hardware wallet stolen (break-in where all his electronics was stolen), fortunately he did have a backup stored in another location.

jesus, mary and joseph. Give up whilst you still can... or is it too late?

 

The private keys to each individual hardware wallet are held on the blockchain. Duh...

[Sparktrader]

Close above black run to 45

[treetops]

21 minutes ago, davidst01 said:

jesus, mary and joseph. Give up whilst you still can... or is it too late?

 

The private keys to each individual hardware wallet are held on the blockchain. Duh...

This site seems to disagree:

 

 

https://www.ledger.com/

 

[lkn]

2 hours ago, davidst01 said:

The private keys to each individual hardware wallet are held on the blockchain. Duh...

Is this satire?

[Sparktrader]

Most exchanges are secure. Bank level.