I just bought $200,000 of Bitcoin

[Sparktrader]

54 minutes ago, Longwood50 said:

You  really don't understand investing do you?  Fiat may not have income and for that matter companies like Tesla, and Amazon lost money for many years.  The value is the multiple of 'EXPECTED' earnings.  

Bitcoin never earned a penny nor will it ever earn a penny.  If it was thought that Fiat would never earn money again its value would drop to the tangible value of liquidating its hard assets, the plant, machinery, equipment, accounts receivable. 

If bitcoin was "liquidated" at its tanglible value it would be ZERO. 

Fiat down 96%

3% pa

 

Btc up 300% last few years.

 

It is you who doesnt understand investing.

 

 

 

 

[Sparktrader]

Just now, Sparktrader said:

Bitcoin never earned a penny nor will it ever earn a penny. 

Cause its currency not a share. Basic stuff you keep failing to grasp. Hedge against inflation.

 

Fiat is devalued yearly, hence the rise of btc which is liquid unlike gold.

[Sparktrader]

1 hour ago, Longwood50 said:

World Com  Formed in 1983 19 years later bankrupt proved to be a fraud
Tyco Formed 1960 bankrupt 2002 bankrupt
Enron formed 1985 bankrupt 2001 
Bernie Maddoff - 1980's started fund, 2008 ponzi discovered

The fact that Bitcoin is 13 years old proves nothing. 

Obviously you know more than the person who is acknowledged as the most astute investor of all time. 



 

 

This is a silly argument. Buffet knows zero about tech, missed Twitter,  facebook, google, yahoo and amazon.

 

Buffet is 95yo. The average 15yo knows more about tech than him.

 

Musk is richer and smarter than Buffet and is pro coins.

 

[Sparktrader]

Asking Buffet about tech is like asking a vet about your heart issues. Not his field of expertise.

 

All the naysayers roll out Buffet line everytime they are out of their depth.

[Sparktrader]

1 hour ago, Neeranam said:

There's a good chance you mean we'll, I'm not sure. 

 

How many years have you been telling people Not to buy bitcoin? 

He is out of his depth.

[Sparktrader]

1 hour ago, Longwood50 said:

If it was thought that Fiat would never earn money again its value would drop to the tangible value of liquidating its hard assets, the plant, machinery, equipment, accounts receivable. 

Plant isnt fiat. Fiat is a transfer system. Fiat by itself is worthless. Fiat was created cause rice and salt were hard to use as currency.

 

A house is a real asset. Fiat is an illusion.

[Sparktrader]

Darren Marble, CEO of CrowdfundX, is one of them. “Although Warren Buffet has made the right call on many investments, he is dead wrong on Bitcoin, because he is totally clueless to the technology,” says Marble. “How could someone who doesn’t use email possibly appreciate Bitcoin? They can’t.”

[Neeranam]

1 hour ago, Sparktrader said:

Darren Marble, CEO of CrowdfundX, is one of them. “Although Warren Buffet has made the right call on many investments, he is dead wrong on Bitcoin, because he is totally clueless to the technology,” says Marble. “How could someone who doesn’t use email possibly appreciate Bitcoin? They can’t.”

Not jut Buffet, a lot of older members here. 

[Sparktrader]

Over the past 20 years, Buffet’s own company, Berkshire Hathaway, has had 6 losing years, with one of them erasing approximately 1/3 of his shareholder’s value.

 

So Buffet is wrong 30% of the time.

 

it seems he doesn't know everything like his followers claim.

[Sparktrader]

https://www.livemint.com/companies/people/tesla-would-fail-elon-musk-recalls-the-time-when-charlie-munger-said-this-11645084760799.html

[Neeranam]

I'd hazard a guess that not one of the guys here saying Bitcoin is a ponzi or a risky buy is under 50. 

 

Prove me wrong @Longwood50 @lkn @Don Chance @Virt

@sirineou  @Jingthing @Lacessit

[Lacessit]

1 minute ago, Neeranam said:

I'd hazard a guess that not one of the guys here saying Bitcoin is a ponzi or a risky buy is under 50. 

 

Prove me wrong @Longwood50 @lkn @Don Chance @Virt

@sirineou  @Jingthing @Lacessit

Guilty as charged. I'm solvent, have no debt, I'll be leaving money when I die. Gold, silver and platinum.

I've seen timber plantations, property funds, CFD's and CDO's come and go. To me, a stream of electrons is even more ephemeral.

Why is it the young think they are smarter than the old? We have the benefit of experience.

Floating around in cyberspace may give you the knowledge to change a car tire, but nothing beats actually doing it.

[SAFETY FIRST]

14 minutes ago, Neeranam said:

 

Prove me wrong @Longwood50 @lkn @Don Chance @Virt

@sirineou  @Jingthing @Lacessit

Strange comment. 

 

How are they going to do that? 

 

[Neeranam]

2 minutes ago, SAFETY FIRST said:

Strange comment. 

 

How are they going to do that? 

 

By saying, "no, I'm under 50 and think BTC is a ponzi".

[Lacessit]

2 minutes ago, SAFETY FIRST said:

Strange comment. 

 

How are they going to do that? 

 

Not strange at all. I understood it, and I'm an old fart.

[Neeranam]

6 minutes ago, Lacessit said:

Guilty as charged. I'm solvent, have no debt, I'll be leaving money when I die. Gold, silver and platinum.

I've seen timber plantations, property funds, CFD's and CDO's come and go. To me, a stream of electrons is even more ephemeral.

Why is it the young think they are smarter than the old? We have the benefit of experience.

Floating around in cyberspace may give you the knowledge to change a car tire, but nothing beats actually doing it.

My point was not that old people are not smart.

Just saying that it's usually older people who wrongly think Btc is a Ponzi.

My mother gave her grandkids Bitcoin last Christmas and she's 80. She stakes Polkadot herself so there are exceptions. 

 

 

[SAFETY FIRST]

1 minute ago, Lacessit said:

Not strange at all. I understood it, and I'm an old fart.

You didn't understand my comment. 

 

I was asking how to Prove. 

[Lacessit]

1 minute ago, Neeranam said:

My point was not that old people are not smart.

Just saying that it's usually older people who wrongly think Btc is a Ponzi.

My mother gave her grandkids Bitcoin last Christmas and she's 80. She stakes Polkadot herself so there are exceptions. 

 

 

That's a statistical sample of one, I would need a bigger sample size.

Only time will tell if BTC is a Ponzi or not. It took the American SEC over 40 years to catch up with Madoff.

Saying older people are wrong because they reject a form of "investment" they don't understand is wrong in itself. What is your evidence cryptocurrencies are NOT a scam?

[Neeranam]

10 minutes ago, SAFETY FIRST said:

You didn't understand my comment. 

 

I was asking how to Prove. 

No one would lie about their age, we are not teenagers! 

[Neeranam]

1 minute ago, Lacessit said:

Saying older people are wrong because they reject a form of "investment" they don't understand is wrong in itself. What is your evidence cryptocurrencies are NOT a scam?

I never said that. I said 'they wrongly think BTC is a Ponzi'.

 

There are scams using crypto just as there are scams using Baht or Pounds. 

 

There is a thread here about the US dollar being a Ponzi.  I suggest you familiarize yourself with what a Ponzi is. 

 

https://www.coindesk.com/layer2/2022/01/18/is-crypto-a-ponzi-define-ponzi/

[SAFETY FIRST]

11 minutes ago, Neeranam said:

No one would lie about their age, we are not teenagers! 

OMG, don't offend the teenagers, they buy crypto. 

[Neeranam]

16 minutes ago, SAFETY FIRST said:

OMG, don't offend the teenagers, they buy crypto. 

 It is the future. 

 

[Lacessit]

10 minutes ago, Neeranam said:

 It is the future. 

 

Models are based on assumptions, sometimes from fact, sometimes not.

I'm a model sceptic, it only takes one assumption to be incorrect, and the whole model collapses like a house of cards.

Prove me wrong, show me in the history of modelling there are more accurate models than inaccurate ones.

[happydreamer]

Just adding that Ebay is set to accept Crypto starting in March.

[Neeranam]

5 minutes ago, happydreamer said:

Just adding that Ebay is set to accept Crypto starting in March.

Everything will have to accept crypto. Thanks for the news. It is the future. Banks are history due to DeFi, the US dollar is history.

[happydreamer]

34 minutes ago, Neeranam said:

Everything will have to accept crypto. Thanks for the news. It is the future. Banks are history due to DeFi, the US dollar is history.

I don't know that the dollar is history, or that I want it to be.  However alternative forms of currency are definitely intriguing.

[Whale]

1 hour ago, Neeranam said:

 It is the future. 

 

Thats cut and paste from a YouTuber. So it hardly constitutes proof?

 

Even the results from the different models are all from people within the crypto and trading industries so one could argue they have an iron in the fire. 

 

 

 

 

[Neeranam]

19 minutes ago, happydreamer said:

I don't know that the dollar is history, or that I want it to be.  However alternative forms of currency are definitely intriguing.

It is exciting.

 

Here's an interesting debate

 

 

[Neeranam]

2 minutes ago, Whale said:

Thats cut and paste from a YouTuber. So it hardly constitutes proof?

 

Even the results from the different models are all from people within the crypto and trading industries so one could argue they have an iron in the fire. 

 

 

 

 

Proof of what?

 

I never said it was proof of anything, just a model. 

[lkn]

4 hours ago, SAFETY FIRST said:

You didn't understand my comment. 

 

I was asking how to Prove. 

I am under 50, but I have @Neeranam added to my ignore list, because even linking to official consumer price index data is not enough to prove to him that we did not have 15% inflation over the last decade, so rather pointless trying to prove my age to him, nor do I care, he lives in his own reality.

 

And I think he has already implied that I am actually quite knowledgable about crypto, since he accused me of spending all my time researching it, but to him, I am just bitter because I missed the boat, which is just so funny, because “missing the boat” means that this is an investment scheme which rewards the early investors, and what other schemes do we know that does that, think ▲? ????