Do you have bitcoin? What do you think about it?

[crazyy_men]

what do you think about bitcoin

[Qdbrown]

It's a bad idea. It made a lot of people rich, but only because of the perception of wealth. Anytime you have greedy people seeking out successful for no reason, the undisciplined will bring it down.

There is an old 80's movie, "Wallstreet" that was made to tell this warning, but quite ironically the main take away from movie goers was that Gordan Gekko was the hero, when he was intended the bad guy. He made greed look good. When in fact when perverted, is very evil.

The segway here is that when you have people throwing what they think is money, in a bucket, that has no real value that you can trade easily, and then expect riches in return, it's a gimmick. Yes, some are getting lambos, but in reality most will be giving their real money to some unknown group.

[Not_Average]

You don't see a real-life utility for bitcoin with the amount of money printing taking place via QE? Bitcoin is the most pristine asset in the world. It's finite and decentralized. When have sovereign nations using bitcoin, and everyone on wallstreet is getting their hands on it. The market cap is several trillions of dollars. At what price point and market cap do you admit that you're wrong. I honestly don't understand how people deny it at this point. It's astonishing to me. The SEC is on board with crypto and the fed just wrote an entire detailed article on it. Gary Genslar has taught crypto at MIT. I just don't understand why the masses still don't see it.

[Qdbrown]

@Not_Average believe you me, it will collaspe, and when it does, anyone with "Coin" will lose it. American money is pretty worthless, but people feel like they can "Cash out" and buy into something else. Tell me how many people lose their login creditials and lose their creditials? I know one who bought a thousand when it was new, around $10 a coin and he cannot get back in. Probably a millionaire at this point, and can't touch it not fully understanding what he should have saved back at the beginning.

[AmandaYVR]

You don't understand the technology at all.

[insignificant_person]

No. I don't trust it, I trust only money that is secured by some country. Just hear what Warren Buffet or Donald Trump say about cryptocurrencies. Warren Buffet said that he don't trust it because it's not something that he can touch. They made fun of him that he is too old for a new business. But now we see that he was right. Elon Musk is very intelligent and he sees that his popularity can make much more money that his Tesla, SpaceX or whatever. He just wrote something on Twitter and the trade will go crazy. And Elon just sell or buy Bitcoins.

[weeee]

Fuck ekon

[AmandaYVR]

Yep, husband bought in years ago.
Unfortunately we lost the bulk of it when there was a hack of an exchange in Japan. But court case is pending. We'll see what happens.
It's highly volatile and the swings up and down don't equate to intrinsic value much now, but is cryptocurrency the future? Without a doubt.

[exitseven]

When Warren Buffett buys into it I will think about it. The whole thing sounds like a scam, but I am probably the most cynical person you will ever meet.
I hope you didn't lose too much. I have been taken to the cleaners once and it is not fun.

[AmandaYVR]

@exitseven We lost the $5K USD we invested, which ballooned up to waaaay over that. So it sucks.
But there's a small chance we'll get it back. We're not counting on it, but it would sure add to the retirement.
It's not a scam. It is used by crooks, yes, but the technology itself is not.
The main thing of note is that only so much will be produced (and it's still being produced right now.) The original program creator designed it this way, many years ago. So even though it sounds even easier to create than how the U. S. gov't prints money, it's actually very different - it's more like gold in that sense. And it cannot be created quickly or easily, in any one location/server.
This blockchain technology will become very big in the future. It has other uses than currency.

The issues right now are that it's not valuable unless you have a way to spend it. So it will take time before it's more of a commonly-recognized payment method. And hackers are always trying to steal it, and sometimes they succeed. Though the security gets tougher and tougher. Many people have lost their digital keys to gain access to it, or the fobs that hold the keys, and they're out millions. Ha ha, sort of. You cannot be a disorganized or forgetful crypto holder!

Buffett looks for value stocks, with long holds. He probably just doesn't understand it.

[exitseven]

Warren buffet understood the tech boom.
So a guy in my town gets scammed by somebody that called him pretending to be his grandson and said he was in jail and needed 11K to make bail. I guess there is a machine in a 7-11 store that takes cash and converts it into Bitcoin. The guy was instructed to put the cash in the machine and send it to some e-mail address. Yes, I know the guy was incredibly stupid but he did it. Then he started to have doubts. He calls the local cops and they tell him the bad news. He tries to get his money back but is told it is gone. The cash was physically still in the machine but he could not get it out. It is things like this that make me doubt the validity of it.
I guess I should say you were lucky it was only 5 grand but I'm sorry this happened to you.

[AmandaYVR]

@exitseven Yeah, poor guy. It's used quite often for nefarious means, and that's a real shame.

But I've seen lots of documentaries etc. about people getting scammed. They also pull money from their own bank accounts and ship it via courier in a box or envelope. Crazy.
Can't blame the currency. Blame the crook.
Thankfully mum elderly mother was always suspicious. Her husband is dumb as a post when it comes to this stuff. She's like, "Hang up the phone right now!!"

You know what the biggest culprit of financial scams is? Dating scams. Online relationships, where they pretend to fall in love with the person. Or that they will 'invest' their retirement savings in something "with a guaranteed return."
It accounts for a bigger economic impact than identity theft.

[exitseven]

OMG that is the worst of the worst. Sometimes I can' t believe the stuff people do to scam others out of their money.

[Not_Average]

By the time Warren Buffet buys it, it won’t be nearly as profitable. The guys strategy is outdated. he's in his 90s now? He doesn’t know anything about bitcoin lol. He’s had his run as a value investor. Berkshire Hathaway doesn’t even compare to most funds at this point.

[Anonymous]

I think a lot of people have made money on it. It’s definitely been good in the short term. Whether it’s a good long term investment, I’m
not entirely sure but it sure does look like something that’s going to stick. I don’t think it’s unwise to consider it as part of your overall investment strategy.

[midnightmoon05]

Tried it 2018. Forgot my password. Never care to retreat it.
unless there is one world govt. system, I don’t see how such currency can be universally accepted. All these speculations are just that with lots of people puttin money in... anyone one can create a currency... there is no regulations. Govt can change laws.
I just invest in tangible stuff for now.

[TyroneJones]

My friends and I all have bitcoin. In my opinion, bitcoin and other cryptocurrencies and change lives. I have personally seen my friends go from poverty to middle class within the time period of a few years. If you are not already into bitcoin or cryptocurrency, I would highly suggest getting into it.

[RasberrySlushPuppy]

No I don't and I think it's a way to lose money to someone because it's not really a whole lot safe. Course you might get lucky and make a lot but it's based on others buying into it and no outside influence.

I just think it's not something that could become part of everyone's lives as banks control this world.

[EssenceOfLight]

I had some and sold them at 10k peak, before transaction fees became a bad joke. Now it's a bubble market where only miners earn money in countries with cheap electricity. It's a "currency" without credits, without places where you can buy something real with BT (it was different few years back), it's just an speculation product.

[midnightmoon05]

After you sold, did you transfer your money into your personal bank account?

[Anonymous]

If you know something about crypto coins, it's worth the investment. I currently invested 100 euros in bitcoin and am at 150 atm.
Know when to invest and when to sell, dont invest for short term but for long term.
It peaks around august-september and december-january depending on the year, layer or sooner. At those times you should sell, in between when it is low you should buy.

[Not_Average]

I was buying bitcoin before it was cool and mainstream, and it’s made me a lot wealthier. I could talk about crypto all day long. It’s funny how the naysayers are still saying it’s a scam lol. How much evidence do they need?

[crazyy_men]

Will it replace currencies in the future?

[Oigit]

I don't and it isn't something I plan on getting. If the idea behind it was still a currency with universal value. Meaning a single bitcoin is worth a single bitcoin everywhere in the world. I would have gotten several.

[exitseven]

I do not. A currency based on an abstract idea that has no oversight and does not belong to any particular government or country is a recipe for fraud.

[AmandaYVR]

Actually the fact that it doesn't belong to any government is one of the biggest reasons many people do like it. It is not manipulatable. The technology doesn't allow for that.

[rjroy3]

Got into trading Crypto this year. Love it. Biden is trying to tax you at the ass tho. If it passes (don't think it will) it won't take effect till 2023. So now's the time if you're gonna

[v666_]

I'm in favor of decentralized currency being the new way. Fuck these Bitcoin rules they're trying to come out with. The government just don't want you to have something they can't control or tax!

[Feelicks]

I do and I've recently changed my mind about it. It's going to be at 100k by years end I'm almost certain.

I'm actually doing training for other people in my country about how to trade Bitcoin and other crypto.

[TommyMountainFigure]

No.. I do not. It just strikes me like stocks and shares that you can't really touch. But I haven't looked into it.

[Anonymous]

Yeah, and a few others. All I think about it is that I’m making money from it. The people who don’t trust it because it isn’t government controlled or who say that it’s for criminals are idiots. The government is filled with crooks.

[Sugar_7]

I hear about it but it sounds silly if you ask me and people should be more smarter than being fooled by couple of criminals controlling these things to steal people’s money.

[Anonymous]

I don't have enough sound knowledge about cryptocurrencies to make a responsible decision to buy 'em.

[ArrowheadSW]

So far no, I have not bought any cryptocurrency. Personally I don't see the need for it myself.

[Anonymous]

Yes.
I think it's excellent. The problem is the legacy financial establishment trying to control it. Fundamentally, it's good for people, but of course the government is going to put the squeeze on it in order to maintain control.

[Anonymous]

I bought a bunch of ETH last year when it was at at $131. It’s now at $3082. More than 23x gain. Not bad for a silly scam.

[Anonymous]

i don't know much about it and still trying to figure out the point of it. for a regular person, i don't think it's worth it.

[andreasderjuengere]

I'm immune to greed.
And still have a comfortable enough life :)

[Surely]

Don’t know anything about them.
Safer things to loose money on.

[Anonymous]

It’s for greedy people who think it will make them rich but they look stupid anyway.

[lonewolf2233]

Moon bois where you at squad.

[Anonymous]

have 30 dollars. I lost my password. I can get it back with special software.

[midnightmoon05]

I lost my password as well. Probably not going to bother... unless I know for sure I can sell, transfer my money back to my account... for now... it’s all in some clouds...

[jamesgoldman]

No and it's intangible so I don't trust it

[OddBeMe]

Yes, the one time I’m glad I didn’t pull out.

[BeMuse]

Hell no.

[Iron_Man]

No I do not have it

[Anonymous]

I have one bitcoin