Bitcoin as an investment?

[pwd72s]

Want to know about

BITCOIN the “ MONKEY”
BUSINESS 2018


A lot of monkeys lived near a village.🐒🐒🐒🐒🐒🐒🐒

One day a merchant came to the village to buy these monkeys!🐵🐵🐵🐵🐵🐵

He announced that he will buy the monkeys @ $100 each. 🐵💵

The villagers thought that this man is mad.😇

They thought how can somebody buy stray monkeys at $100 each?🤔

Still, some people caught some monkeys and gave it to this merchant and he gave $100 for each monkey. 😬

This news spread like wildfire and people caught monkeys and sold it to the merchant.😬

After a few days, the merchant announced that he will buy monkeys @ 200 each. 🐵💵💵

The lazy villagers also ran around to catch the remaining monkeys!🐒🐒🐒🐒🐒🐒

They sold the remaining monkeys @ 200 each.😋

Then the merchant announced that he will buy monkeys @ 500 each!
😮💵💵💵💵💵

The villagers start to lose sleep! ... They caught six or seven monkeys, which was all that was left and got 500 each.🙊🐵🐵🐵🐵🐵🐒

The villagers were waiting anxiously for the next announcement.🙄

Then the merchant announced that he is going home for a week. And when he returns, he will buy monkeys @ 1000 each!🐵💵💵💵💵💵💵💵💵💵💵

He asked his employee to take care of the monkeys he bought. He was alone taking care of all the monkeys in a cage.🤠🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒 🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒 🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒 🐒🐒🐒🐒🐒🐒

The merchant went home.😎

The villagers were very sad as there were no more monkeys left for them to sell it at $1000 each.☹😞😓

Then the employee told them that he will sell some monkeys @ 700 each secretly. 😶

This news spread like fire. Since the merchant buys monkey @ 1000 each, there is a 300 profit for each monkey.😬

The next day, villagers made a queue near the monkey cage.🐒🐒🐒🐒🐒🐒🐵🐒🤑🤑🤑🤑 🤑🤑🤑🤑🤑🤑

The employee sold all the monkeys at 700 each. The rich bought monkeys in big lots. The poor borrowed money from money lenders and also bought monkeys!
🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒💵💵💵💵💵 💵💵💵💵💵

The villagers took care of their monkeys & waited for the merchant to return. 😕

But nobody came! ...😤 Then they ran to the employee...🤠

But he has already left too !😉

The villagers then realised that they have bought the useless stray monkeys @ 700 each and unable to sell them! 😩😫😨😰😭😭😭😭😭😭
The Bitcoin will be the next monkey business
😜

It will make a lot of people bankrupt and a few people filthy rich in this monkey business. 🐒😉😅

That's how it will work🤣

[dewolf]

All the crypto's are down. They will recover.

[KFC911]

Originally Posted by dewolf

All the crypto's are down. They will recover.

Exactly....that's why I've been hoarding tulips

[GWN7]

I invested all my spare money in food (and a few old Porsches) but I forgot that I had teenagers....

[trader220]

Originally Posted by GWN7

I invested all my spare money in food (and a few old Porsches) but I forgot that I had teenagers....

I like your thinking!

I invested in shelter for the old Porsches (myself and son too), food, tools, provided for my son's future, and squandered the rest on a well diversified portfolio of stock's and ETF's that are also hedged with derivatives. On another note, last winter was so warm here my Tulips came up so early they didnt make it to the spring. This year is so cold they'll probably come up in the spring. Glad I have the safe and sound in the ground.

[widebody911]

Even malware developers are giving up on BTC

https://www.theguardian.com/technology/2018/jan/18/bitcoin-fluctuations-ransomware-cybercrminals-malware-developers

[aigel]

So, did you see the latest on Bitcoin and Tether? Why isn't this big news? Not looking so good. The "decentralized" currency possibly being manipulated by a few?

https://www.nytimes.com/2018/01/31/technology/bitfinex-bitcoin-price.html

Will be interesting to see what happens next!

G

[Tom '74 911]

Kind of crazy that I started this thread 4 years ago. Been quite a ride - especially the last 3 months - and generated some interesting discussion and comments. I finally pulled the ripcord early last week and sold it. I wanted to get out before it dropped too much lower as I want a set of new PMOs for a 2.7L RS engine I'm building... : ) : ) so thanks to my brother's Christmas gift 4 years ago, they are on him! If I'd gotten out at the peak, I'd be able to afford some new SSIs as well, but I'm happy with where I am for sure...

[KFC911]

I just hopped on this thread recently...you early birds ate worms, late worms get eaten...or something. How do credit cards figure in....saw where the three largest were stopping the purchase of Bitcoins in order to protect themselves from potential losses. Maybe you made money..but if fools were buying Tulips on credit cards...it's over boyz .

[biosurfer1]

Bitcoin has spectacularly 'died' several times

📉 - 94% June-November 2011 from $32 to $2 because of MtGox hack

📉 - 36% June 2012 from $7 to $4 Linod hack

📉 - 79% April 2013 from $266 to $54. MTGox stopped trading

📉 - 87% from $1166 to $170 November 2013 to January 2015

📉 - 49% Feb 2014 MTGox tanks

📉 - 40% September 2017 from $5000 to $2972 China ban

📉 - 55% January 2018 Bitcoin ban FUD. from $19000 to 8500

Yep, all over🙄 this drop isn't even in the top 3 percentage wise.

[KFC911]

Originally Posted by biosurfer1

Bitcoin has spectacularly 'died' several times
...

Yep, all over🙄 this drop isn't even in the top 3 percentage wise.

The sucker's have left the flowershop...check back in a few years...may never die however.

You want my 1500 shsres of Enron? I still got 'em....I guarantee you won't lose yer azz though....they're free

Anyone buying Bitcoin now deserves the same...

[Sooner or later]

Today's bitcoin is anything but an investment.

Good for high risk speculators and day traders.

[Nine, Frau!]

It should provide some more quality pain and suffering. Still a long way from zero

[MBAtarga]

Went to a superbowl watching party tonight. Was speaking to one of the other guests - found out he has had several Porsches over the years. Anyway, he mentions his kids are close in age to ours - his daughter is 25 and his son is 28.
Then he adds, his son just retired! Retired at 28? I ask...
Seems his son bought 100 bitcoin back several years - recently sold them at $14k a pop - a cool $1.4M His son quit work and is going to figure out what he wants to do the rest of his life. Start up his own company, etc.... to make sure the $1.4M will last.

[Holger]

$1.4M? Retiring with that? LOL!

[KFC911]

Timing is everything....those he sold to have lost half of what they bought almost overnight....what did "they" buy....other than into a "Bitcon" pyramid scheme?

[Alan A]

Originally Posted by MBAtarga

Went to a superbowl watching party tonight. Was speaking to one of the other guests - found out he has had several Porsches over the years. Anyway, he mentions his kids are close in age to ours - his daughter is 25 and his son is 28.
Then he adds, his son just retired! Retired at 28? I ask...
Seems his son bought 100 bitcoin back several years - recently sold them at $14k a pop - a cool $1.4M His son quit work and is going to figure out what he wants to do the rest of his life. Start up his own company, etc.... to make sure the $1.4M will last.

So about $700k after tax, give or take.
I know the cost of living in GA is lower, but that still may not carry him all the way through methinks...

[Tervuren]

I think there is a difference between retiring cold turkey, and working at something you enjoy. Sounds like he's going to do the second.

[MBAtarga]

Yep - I think he is going to use the funds to start up something on his own - quite not exactly "retire" - but at least no longer working for The Man.

[KFC911]

Saw where Bitcoin went below $6K...before anyone is tempted to take advantage of this buying opportunity....please send me $20 for my 1500 shares of Enron. Dayum...