Bitcoin as an investment?

[Paul T]

Originally Posted by Rusty Heap

? Somebody explain to me how to spend Bitcoin at your local market for food?

you can’t, which is why it will ultimately be worth zero (or close) IMHO….there is no valid use case and in all these years it has still been not made easy to use for the average person. Until you can spend BTC as easily as tapping your phone down on the terminal, it will continue to just be a novelty. I could of course be 100% wrong, but it’s a purely speculative play to me, with no real world use case.

[lowyder993s]

Originally Posted by Paul T

you can’t, which is why it will ultimately be worth zero (or close) IMHO….there is no valid use case and in all these years it has still been not made easy to use for the average person. Until you can spend BTC as easily as tapping your phone down on the terminal, it will continue to just be a novelty. I could of course be 100% wrong, but it’s a purely speculative play to me, with no real world use case.

You ARE wrong!!! LN (LIghtning Network) is all you need to pay. BTC has beaten EVERY play out there for the last decade! Hell...MicroStraegy (MSTR) just made 6.9 years of profit IN ONE DAY (yesterday). Watch anything you can from Michael Saylor; CEO of MSTR. He is a Bitcoin Maxi! I've got 3 plays...Bitcoin, Ethereum and Chainlink. I got cut off at the knees for the better part of a year and a half. Portfolio jumped 1.15MM in 3 weeks! This is the start of another bull run. I'm comfy AF!

[Arizona_928]

The question is…. We’ll crypto mirror the stock market if the dollar gets knocked off its high horse…

[sc_rufctr]

I've been wrong all the way through this thread but...

Bitcoin seems to defy logic. And that's the problem I have with it.

The markets I understand and I've done well over the years.

[Paul T]

Originally Posted by lowyder993s

You ARE wrong!!! LN (LIghtning Network) is all you need to pay. BTC has beaten EVERY play out there for the last decade! Hell...MicroStraegy (MSTR) just made 6.9 years of profit IN ONE DAY (yesterday). Watch anything you can from Michael Saylor; CEO of MSTR. He is a Bitcoin Maxi! I've got 3 plays...Bitcoin, Ethereum and Chainlink. I got cut off at the knees for the better part of a year and a half. Portfolio jumped 1.15MM in 3 weeks! This is the start of another bull run. I'm comfy AF!

You could be right, and I never said you can’t make money on it….people made lots of coin trading tulips until they didn’t. At the end of the day, I still think the intrinsic value is zero and most people are just not interested or even care. I still maintain that it will NEVER gain wide acceptance until it’s as easy as a credit card - and I still don’t see a real world use case that answers the question “why”. Not to mention, if you lose your key, your $$ is gone forever. Lastly, most of the people I’ve encountered in the “industry” don’t strike me as serious people. More like a gaming culture. Glad you have done well, but I will remain on the sidelines on this one.

[chapstic2001]

Originally Posted by Rusty Heap

? Somebody explain to me how to spend Bitcoin at your local market for food?

Today? The same way you would spend your 401k and stock investments at your local market, cash out and withdraw it.

[cockerpunk]

Originally Posted by sc_rufctr

I've been wrong all the way through this thread but...

Bitcoin seems to defy logic. And that's the problem I have with it.

The markets I understand and I've done well over the years.

there is nothing illogical about it.

its a scam, its works like any other scam. as long as there are more people buying into the scam than leaving the scam, its works.

[Paul T]

Originally Posted by cockerpunk

there is nothing illogical about it.

its a scam, its works like any other scam. as long as there are more people buying into the scam than leaving the scam, its works.

That’s more or less my view, but I don’t know if I’d go so far as to call it a “scam”…people understand (or should understand) what they are buying, I don’t think anyone is being duped into buying Bitcoin or any other coin - it’s just that they are deluded into thinking there is intrinsic value there. Bitcoin wouldn’t exist without internet hype. It will eventually go the route of NFT’s, it will just take longer, especially now that there is some institutional involvement. That’s my belief anyway….could be wrong. It’s the penny stock schemes of earlier eras (except it’s far from pennies!)

[cockerpunk]

Originally Posted by Paul T

That’s more or less my view, but I don’t know if I’d go so far as to call it a “scam”…people understand (or should understand) what they are buying, I don’t think anyone is being duped into buying Bitcoin or any other coin - it’s just that they are deluded into thinking there is intrinsic value there. Bitcoin wouldn’t exist without internet hype. It will eventually go the route of NFT’s, it will just take longer, especially now that there is some institutional involvement. That’s my belief anyway….could be wrong. It’s the penny stock schemes of earlier eras (except it’s far from pennies!)

techbros gonna reinvent basic human interactions and scam people for things they already have.

trick as old as time. well, trick as old as capitalism anyway.

watching them reinvent the train, with all this interconnected, autonomous vehicle, EV trucking stuff is pretty funny. its a train guys. you just reinvented a train. good job. no trains are great, we've just had them for 150ish years already, thanks.

[911 Rod]

I just found out from a friend of a friend that the friend lost $300,000 on bitcoin last year.
Retired postal worker with no debt wanted to get rich I guess.
He had to borrow the money for the purchase and has now pretty much f#cked up his retirement.

[Paul T]

Originally Posted by 911 Rod

I just found out from a friend of a friend that the friend lost $300,000 on bitcoin last year.
Retired postal worker with no debt wanted to get rich I guess.
He had to borrow the money for the purchase and has now pretty much f#cked up his retirement.

Ouch! I hate to hear stories like this....

[Arizona_928]

Originally Posted by Paul T

You could be right, and I never said you can’t make money on it….people made lots of coin trading tulips until they didn’t. At the end of the day, I still think the intrinsic value is zero and most people are just not interested or even care. I still maintain that it will NEVER gain wide acceptance until it’s as easy as a credit card - and I still don’t see a real world use case that answers the question “why”. Not to mention, if you lose your key, your $$ is gone forever. Lastly, most of the people I’ve encountered in the “industry” don’t strike me as serious people. More like a gaming culture. Glad you have done well, but I will remain on the sidelines on this one.

But they're putting $$$$ into those coins.
Just as they stuck it to Wall Street with Game Stop.

[sugarwood]

Originally Posted by 911 Rod

I just found out from a friend of a friend that the friend lost $300,000 on bitcoin last year.
Retired postal worker with no debt wanted to get rich I guess.
He had to borrow the money for the purchase and has now pretty much f#cked up his retirement.

How?

BTC went from $16k to $40k in 2023.
It is now at $60k

[Sooner or later]

Originally Posted by sugarwood

How?

BTC went from $16k to $40k in 2023.
It is now at $60k

I wondered the same thing. Possibly bought in 2022 and then sold at a loss in 2023. Bad timing.

[911 Rod]

Originally Posted by sugarwood

How?

BTC went from $16k to $40k in 2023.
It is now at $60k

Originally Posted by Sooner or later

I wondered the same thing. Possibly bought in 2022 and then sold at a loss in 2023. Bad timing.

Not sure. Not about to ask either.

[Bill Douglas]

Originally Posted by turbofan

and found a solution)))

. Gold?








.

[stevej37]

Along with gold, Costco is selling platinum 1oz bars for $1090 each.
The news said the platinum is selling very good.

[Pazuzu]

Originally Posted by Bill Douglas

. Gold?








.

No, spamming websites!
Turbofan posted for ONE MONTH in 2011, and basically woke up from a 13 year slumber to post a mix of random basic automotive repairs facts, and spam posts with links.

Methinks that someone had their account stolen recently.

[Bill Douglas]

Good thinking! That would be it.

[rwest]

Originally Posted by sugarwood

How?

BTC went from $16k to $40k in 2023.
It is now at $60k

It probably wasn’t Bitcoin, but some other cryptocurrency that scammed him out of his life savings.