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Unca Walt

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#1
-- The last time I pleaded with you to just take 1/2 of whatever Bitcoin you have and convert it to PM's... You could have bought PM's...

AND THEN BOUGHT BACK THE BITCOIN CHUNK YOU SOLD LAST WEEK.

1610536364627.png
 

Mujahideen

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#2
34,725.00 United States Dollar Right now.
 

TomD

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#3
I talked to a lifelong friend a couple of weeks ago who had asked me what I though of "investing" in bitcoin. She doesn't have money to lose. I told her to consider it the same as taking that money to a casino.
 

Unca Walt

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#4
34,725.00 United States Dollar Right now.
YOWZA,

And just a couple of days ago, it was $41,423.51 <-- went down to $30,370.25

I just asked for folks to consider taking profit, then buying back in total fiscal SAFETY.

A tad over an eleven thousand dollar spread. Coulda bought $5K of PM's and then gone back in with Bitcoin with $6K.

I always like to use other people's money, and I think Bitcoin is a great opportunity for some folks to really use other folks' money.
 

brosil

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#5
I invested in canning jar lids.
 

spinalcracker

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YOWZA,

And just a couple of days ago, it was $41,423.51 <-- went down to $30,370.25

I just asked for folks to consider taking profit, then buying back in total fiscal SAFETY.

A tad over an eleven thousand dollar spread. Coulda bought $5K of PM's and then gone back in with Bitcoin with $6K.

I always like to use other people's money, and I think Bitcoin is a great opportunity for some folks to really use other folks' money.


shhhhhhh......it’s difficult to time the bitcoin market

these wild swings in the crypto remind me of gold at $300 and how some folks back then pontificated about the wild swings in gold and how difficult it is to hang on to the gold bull

bitcoin has exceeded the definition of a wild bull market
 

Mujahideen

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#7
I just want to make sure that everything is clear.

On December 19th, Walt, you said:

6A73C6E3-27B9-4238-BDF8-4BE1B4D4E390.jpeg


On December 19th, bitcoin closed at $23,137.96

Today bitcoin is 34,306.70 USD.

lol
 

Unca Walt

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#9
Thank you for re-posting my correct and accurate post.

I will repost what you apparently (?) are not understanding. I used capital letters to type the word, "ONE" <-- This time I bolded it.

Read this: I have NEVER, EVER even hinted that folks should sell off all or even most of their bitcoin. Is that clear to you now?

I have -- repeatedly -- said that with the meteoric rise in Bitcoin trading price, it is a wise thing to sell just enough to be ahead of the game.

This is a great example of eyes wide shut:
-----------------------------------------------------------------------
"On December 19th, bitcoin closed at $23,137.96

Today bitcoin is 34,306.70 USD."
------------------------------------------------------------------------

That quote above refers/compares to AFTER Dec 19. But dig deeper, and you will be able to quote me prior to that date... and if you had just sold ONE "chunk" of your Bitcoin pile several months before that Dec. 19 date, you would have been using other peoples' money watching your remaining "chunk" move to $41,000...

If it goes to the moon, GREAT. <-- When it gets to where your remaining "chunk" can be halved again (or maybe just a quarter of your Bitcoin chunk) you can cash in again without the slightest worry about which way Bitcoin will go next. You've doubled and more than redoubled your initial investment no matter what.

If Bitcoin turns into a tulip bulb, NO PROBLEM, you are in the black and have been ever since you sold your first "half-chunk".

If Bitcoin drops to half its peak, BUY IN AGAIN FREE-FER_NUFFIN !! Enjoy the ride no matter whichaway it goes because you cannot lose.

I really am trying to 'splain what you've missed, Muj. Because your post shows you missed it, or are being obtuse a-purpose.
 
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Buck

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#10
did they ever lift that 'total amount' of bitcoin that would be released / created? there was a planned maximum amount that would be 'mined' into existence, has that amount been lifted?

if not, we gotta be getting close to it by now, and anything that nears it's 'end of life' is going to reflect some weird happenings.....and because of 'scarcity' prices are 'necessarily' (i've grown a bit fond of that word) going to rise
 

Mujahideen

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#11
did they ever lift that 'total amount' of bitcoin that would be released / created? there was a planned maximum amount that would be 'mined' into existence, has that amount been lifted?

if not, we gotta be getting close to it by now, and anything that nears it's 'end of life' is going to reflect some weird happenings.....and because of 'scarcity' prices are 'necessarily' (i've grown a bit fond of that word) going to rise
Add interest rates at nearly zero, trillions of dollars being created, fintech integrating bitcoin into their platform and big funds making big moves on bitcoin... and you will have people that barely know how to use a flip phone, let alone a smartphone, give you bad and untimely advice on fintech.
 

Casey Jones

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#12
Next comes the huge CapGains taxes for the hodlers.

Keep in mind...one Dumbo pledge and platform was to assess Capital Gains on UNREALIZED capital appreciation. Stawks that go up in your portfolio, even if they haven't sold. Your home value.

It's lunacy, but so is most of their plans. Before they start attacking Ma and Pa Kettle on their old grey farmhouse...bitcoin hodlers are low-hanging fruit. Not anywhere near as plugged-in as the Banksters, which, today, hold much of the outstanding stawk.

They may be one of the first.

Meantime...I'm still checking out things where I had that boating accident...
 

solarion

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#14
If you don't hold it, you don't own it.
Except you can hold the private keys to bitcoin...unlike shares of the SLV, GLD, Gold stocks, etc...but yeah of course you guys buy those bankster frauds. It's amusing how the double standards work here. Do you "hold" your 401k? IRA?

You can have 100% absolute control of bitcoin. NOBODY can take it from you. NOBODY. ...and you don't need ANYBODY to spend it whenever you wish, no government, no brokers, no bankers. Zero. Yeah...let's hate on that, cuz who wants economic freedom. lol

The bitcoin hate here is hilarious. Bitcoin is the most predictably volatile asset I've ever seen. It goes up 75 - 100% from its recent low, then retraces nearly 50% from its previous ATH over and over and people that are JUST as predictable begin touting the end of bitcorn once again. ...as usual they're wrong...once again. Oh and BTW...bitcoin is...

$39654
 

spinalcracker

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#15
Except you can hold the private keys to bitcoin...unlike shares of the SLV, GLD, Gold stocks, etc...but yeah of course you guys buy those bankster frauds. It's amusing how the double standards work here. Do you "hold" your 401k? IRA?

You can have 100% absolute control of bitcoin. NOBODY can take it from you. NOBODY. ...and you don't need ANYBODY to spend it whenever you wish, no government, no brokers, no bankers. Zero. Yeah...let's hate on that, cuz who wants economic freedom. lol

The bitcoin hate here is hilarious. Bitcoin is the most predictably volatile asset I've ever seen. It goes up 75 - 100% from its recent low, then retraces nearly 50% from its previous ATH over and over and people that are JUST as predictable begin touting the end of bitcorn once again. ...as usual they're wrong...once again. Oh and BTW...bitcoin is...

$39654


don’t forget credit cards and paying bills online...all done digitally...
 

mnmom

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#16
I think bitcoin has its place for certain people. I'm personally not one of those people. Like I said... if I don't hold it I don't believe I own it. 401k, IRA, shares, bonds, fiat... none of it. I also don't think those things are worth anything long term. That's why I invest differently. No need to be mad. We just think differently.
 

solarion

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#17
I'm not mad at all...I'm used to the bitcoin ignorance here. The concept of private keys and brain/paper wallets is simply too complex for many here to bother to understand. Thus they constantly spew forth ignorant comments about bitcoin ownership. Hey, if you like your ignorance, you can go in peace and keep your ignorance.

Delighted you personally don't engage in bankster paper fraud investments. It's a philosophy I share, but there are many here that spew forth rhetoric like "if you don't hold it...blah blah" and then turn right around and talk about which gold miner shares they "own" and debate about whether they should beg the goobermint to let them have some of their own retirement fund. These people suffer from cognitive dissonance.
 
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Brio

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#18
did they ever lift that 'total amount' of bitcoin that would be released / created? there was a planned maximum amount that would be 'mined' into existence, has that amount been lifted?

if not, we gotta be getting close to it by now, and anything that nears it's 'end of life' is going to reflect some weird happenings.....and because of 'scarcity' prices are 'necessarily' (i've grown a bit fond of that word) going to rise
No, there will only ever be 21 mm BTC. But each one is divisable to 1/1,000,000th called a Satoshi. So the 'scarcity' is a lot of zeros. I posted a valid pro-BTC argument and still got 'chastised' shall we say, for not being a hodler. Coiners get quite aggressive. That tells me a lot.
I guess my biggest problem with BTC is it's future value. The higher it goes the less likely anyone will be willing to exchange anything for it. When BTC hit $40k last time, coinbase went down. They happen to do that every time people want to take money off the table. Buy side works well, just don't try to sell.
 
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solarion

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#19
did they ever lift that 'total amount' of bitcoin that would be released / created? there was a planned maximum amount that would be 'mined' into existence, has that amount been lifted?
Nope.
if not, we gotta be getting close to it by now
Depends on what one defines as "close". Is 2140 "close" to you?
...and anything that nears it's 'end of life' is going to reflect some weird happenings.....and because of 'scarcity' prices are 'necessarily' (i've grown a bit fond of that word) going to rise
Mining of the last block on or around 2140 is not expected to be "end of life" for the bitcoin network. Instead when mining incentives(rewards) are no longer produced, the sole reward for bitcoin transaction processors will instead be transaction fees alone.

It's amazing, to me at least, that bitcoin has now been around for 12 years, yet these basic concepts about how the bitcoin network works isn't common knowledge. ...yet there's no lack of people ready to warn others about how dangerous bitcoin is as an investment. Even being wrong over and over about bitcoin seems not to give these folks pause.
 

BeefJerky

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#21
My understanding is capacity is only 7 transactions per second. Meanwhile VISA can handle something like 50k transactions per second. Apparently people wait 8 hours for a transaction to go thru. Unless of course they are willing to pay increased fees. I saw someone complaining about a $4 fee to buy a $10 lattee.
But but but Bitcoin is limited edition. So is my poop. I only produce 1 a day. If this isn't madness of crowds. I don't know what is.
What is Bitcoin being used for other than selling it the next bigger sucker? The thing is complete junk from a practical use standpoint.
 

Mujahideen

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#22
My understanding is capacity is only 7 transactions per second. Meanwhile VISA can handle something like 50k transactions per second. Apparently people wait 8 hours for a transaction to go thru. Unless of course they are willing to pay increased fees. I saw someone complaining about a $4 fee to buy a $10 lattee.
But but but Bitcoin is limited edition. So is my poop. I only produce 1 a day. If this isn't madness of crowds. I don't know what is.
What is Bitcoin being used for other than selling it the next bigger sucker? The thing is complete junk from a practical use standpoint.
It’s great for helping you hide money. And we know how important that is.
 

BeefJerky

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#24
It’s great for helping you hide money. And we know how important that is.
I'm not sure about that. If I buy at the wrong time I could lose over half of it. Then I have to do something called HODLing and hope I get made whole again. I saw someone else complaining that they signed up for some account before KYC. Now they are having a hard time getting to know their custodian.
 

Mujahideen

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#25
I'm not sure about that. If I buy at the wrong time I could lose over half of it. Then I have to do something called HODLing and hope I get made whole again. I saw someone else complaining that they signed up for some account before KYC. Now they are having a hard time getting to know their custodian.
Same applies for just about everything else.

If you let someone hold your gold in storage you might get screwed, your bank can screw you also. It’s best to hold your keys cold storage.
 

Voodoo

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#26
My understanding is capacity is only 7 transactions per second. Meanwhile VISA can handle something like 50k transactions per second. Apparently people wait 8 hours for a transaction to go thru. Unless of course they are willing to pay increased fees. I saw someone complaining about a $4 fee to buy a $10 lattee.
But but but Bitcoin is limited edition. So is my poop. I only produce 1 a day. If this isn't madness of crowds. I don't know what is.
What is Bitcoin being used for other than selling it the next bigger sucker? The thing is complete junk from a practical use standpoint.
I would actually like to get into some Crypto but would not buy Bitcoins. That was purposefully taken over and ruined. But I still don't know which ones are looking like the most useful.
 

Buck

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#27
... people suffer from cognitive dissonance.
Hypocrisy...and i'm certain most folks are 'blind' to it, it's just too common


...yet there's no lack of people ready to warn others about how dangerous bitcoin is as an investment. Even being wrong over and over about bitcoin seems not to give these folks pause.
personally, i don't come at this as if Bitcoin is an investment, i'm on the 'digital currency' side of the equation

if anyone can 'make money' off of it, i'm good, there's risk with everything...idk, i've viewed it as a 'digital currency' since it first came out, and i will continue to argue against it for this fact alone
 

Mujahideen

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#28
if anyone can 'make money' off of it, i'm good, there's risk with everything...idk, i've viewed it as a 'digital currency' since it first came out, and i will continue to argue against it for this fact alone
I’m with you on that. I also acknowledge that we are missing out on this wave and all the indicators seem to be indicating that it’s still on its way up.
 

solarion

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#29
...idk, i've viewed it as a 'digital currency' since it first came out, and i will continue to argue against it for this fact alone
Yeah. Well. The date is 2021 not 1921. Kids want to pay for crap with their iPhones not chunks of rocks. Bitcoin is the best possible solution to provide financial freedom...even if some old crusty folks dislike it. I feel like spring chicken around here...even though I'm an x'er.
 

TomD

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#30
I may be wrong, and that damn sure wouldn't be the first time, but bitcoin has all the ear marks of an economic bubble, of which there are many examples from the past couple of hundred years.

One example is from the 1980's in Japan when speculation had driven land and real estate prices to the point at which the book value of the city of Tokyo was worth more than the entire continental United States. It popped of course and Japan has never fully recovered.

And then was the dot com bubble in the 1990's that had internet startups with 50 employees that had no physical holdings and had never made a dime in profit worth more than General Electric and General Motors combined.

There are lots and lots of examples through history and they have certain things in common. The central characteristic seems to be that an asset is bid up far past it's intrinsic worth because of what I would characterize as "group think". This bid up process continues until some trigger event causes the group think to reverse direction.

Here's the deal from my viewpoint: can someone demonstrate the intrinsic worth of a bitcoin?
 

solarion

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#31
Been hearing about how bitcoin is a bubble for over a decade. Never mind that it's a technological and economic revolution trying to find proper price equilibrium with the scheisse dollar. Never mind also that it and NOT gold is the canary in the coal mine squawking right now.
Here's the deal from my viewpoint: can someone demonstrate the intrinsic worth of a bitcoin?
A bitcoin, just like gold and silver, represents self contained value...a sunk cost. It's an asset on only one side of the ledger...an asset without a matching liability elsewhere...unlike the US dollar.

I know, I know...it's electronic vapor...and you can't hold it. blah blah.
 

Thecrensh

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#32
If I had invested the $100 I was thinking about in Bitcoin back in like 2011...shoulda, woulda, coulda...
 

Buck

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#33
Bitcoin is the best possible solution to provide financial freedom...even if some old crusty folks dislike it.
like a cactus, get near it and the needles will just jump right off

"Bitcoin is the best possible solution to provide financial freedom"
LOL, that's a big chuckle

you portray as if you're emotionally attached...you should relax a bit
 

solarion

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#34
What's shocking is that here on a forum about PMs and economic knowledge/freedom, the majority don't seem to recognize the revolutionary nature of bitcoin and cryptos in general. Mostly because they're emotional about gold and silver.

Silver btw is now and has been my favorite investment for decades. It(Ag) is what I convert bitcoin into when I think it's top heavy...as I did recently. Yet, it's not likely to be widely accepted as "money" again anytime soon, and bitcoin is right now. Sucks that people get so attached to their chunks of yellow and white metal they don't recognize a revolutionary concept when they see it.
 

TomD

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#35
If I had invested the $100 I was thinking about in Bitcoin back in like 2011...shoulda, woulda, coulda...
Reminds me of my Dad bemoaning the fact that he didn't buy beachfront property in some Florida town (I forget which) for $5 per front foot back in the 1950's.
 

TomD

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#36
What's shocking is that here on a forum about PMs and economic knowledge/freedom, the majority don't seem to recognize the revolutionary nature of bitcoin and cryptos in general. Mostly because they're emotional about gold and silver.

Silver btw is now and has been my favorite investment for decades. It(Ag) is what I convert bitcoin into when I think it's top heavy...as I did recently. Yet, it's not likely to be widely accepted as "money" again anytime soon, and bitcoin is right now. Sucks that people get so attached to their chunks of yellow and white metal they don't recognize a revolutionary concept when they see it.
Again, what is the intrinsic value of a bitcoin or is intrinsic value an outmoded concept? So what then is the concept of value?
 

Casey Jones

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#37
No way to know.

Suppose you'd owned Enron stock. Or Adelphia or WorldCom. Or, what was that blood-testing scam company, with that blonde cookie who would dress like Steve Jobs, all in black. Geez, I'm getting old.

You just do not KNOW what the future holds. I've trebled my money on my first gold purchase; and that's good enough. Meantime I've avoided the GM bankruptcy, the Sears bankruptcy, and the Chrysler LLC bond debacle, without money lost.
 

Casey Jones

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#38
Again, what is the intrinsic value of a bitcoin or is intrinsic value an outmoded concept? So what then is the concept of value?
Apparently "intrinsic value" and other estimations of value, are obsolete concepts. Like price-to-earnings.

Which means there's no rational way to appraise value. It's all about the Herd, and where it's being led to stampede. Bigger Fools who will pay more for it, tomorrow...because, reasons.

That's not rational investing. And for that reason, it's not investing I can or will do.
 

Buck

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#39
Yet, it's not likely to be widely accepted as "money" again anytime soon, and bitcoin is right now.
what's the real difference between a monetary purchase and a barter purchase?

does the word monetary change the meaning of exchange? how about a barter, does that change the meaning of exchange?

i can exchange seashells to specific people and walk away with a trade that the IRS could easily consider to be a 'taxable' transaction that i would need to get some fiat in order to make their payment plan...another exchange (probably taxable also)


it begins to get a bit nebulous, can you see it?

i'm only pointing out, in order for 'people to believe' in any crypto, it had to start somewhere and profit and greed seems to be at the tip of the arrow but, eventually profit and greed, the very things that help get other things off the ground, is soon found to be the very elements that take that very same thing, down

we've been duped, we're now giving the name 'money' to everything...CC's are money, fiat is money, cryptos are money, and we've been told that PM's are not money

why does this all sound so...wrong?

besides, money, real money, is not a 'real investment', it's a form of exchange, a barter system

if we're profiting off of money, i'd like to ask, what has that money made? does it go out and earn anything today?...and think of how really stupid that idea is...it forces our monetary system to either adapt to irresponsible valuations or to become worthless and no one's interested in any adaptations

actually, the fiat we're using today isn't real money, any more than BC is money
 

solarion

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#40
Again, what is the intrinsic value of a bitcoin...
Precisely the same as gold, silver, platinum, etc.

It takes effort, time, expense, energy, etc to extract raw metal from the earth, refine it, and stamp it into bullion. This then becomes a unit of self contained value and scarcity. That is the value intrinsic in bullion.

While bitcoin is not mined from the earth, there is energy, innovation, technology, time, and effort that go into their creation. When bitcoin are freshly minted they're also relatively scarce...currently about 18.5m exist.