If I'm playing craps, the thrill of the win is so exhilarating. Watching the money pile up, doubling, tripling the money I came to the table with, is intoxicating and I always want moar... Then I start losing, and think "man, I was at $300 before, I can get back up there" then it's "well, I came to this table with $100, I can get back up there" and next thing I know I'm walking away with zero. This emotion is what makes us human.
When I say it's cheap, I mean it's cheap. To buy portions of it. I have a feeling it will hit 20k soon, eventually 50k, 100k, possibly even 1 mil. That's why it's "cheap". My coworker's boyfriend just bought 1 Bitcoin around $12,000 over the weekend.
It's now at $15,900.
Actually it juts broke $16,000 and is now $16,140. It went up $200 as I typed this post.
My mom gave me $100 to put in @ $4800. Now her investment is over $350.
My $5 referral bonus back in 2013 is now worth over $85.
Actually now it's $16,272.
$1 million? How? Why? What in the fuck makes you think that? It's a literally useless thing. The "value" is based solely on hype. It WILL crash. Now, sure, it could hit $20k or even $50k first, but it will crash and everyone in it will lose all of it. It has no real value whatsoever. Anyone that's making money on it, cool. You can make money on the Las Vegas strip too, but more people will lose ultimately. That's how gambling works, BTC is a gamble, not an investment.
I'd rather gamble in LV , at least then I'm hammered when I lose it all.
It's such classic bubble mentality.
The real issue is the price volatility will keep major, legitimate companies from accepting payment universally. Selling a coffee of bagel is low risk...but a car or house? Not going to happen. Volatility will ultimately be the death of it once people realize that it's inherently worthless.
Then there's the fact that it takes more power than the country of Denmark consumes to keep the system going, and it's just a ticking time bomb.
Cryptocurrency will be here to stay in one form or another, but once this bubble bursts, it'll go back to being solely for international drug dealers and trolls.
Desertbreh wrote: ↑Tue Oct 10, 2017 6:40 pm
My guess would be that Chris took some time off because he has read the dialogue on this page 1,345 times and decided to spend some of his free time doing something besides beating a horse to death.
$1 million? How? Why? What in the fuck makes you think that? It's a literally useless thing. The "value" is based solely on hype. It WILL crash. Now, sure, it could hit $20k or even $50k first, but it will crash and everyone in it will lose all of it. It has no real value whatsoever. Anyone that's making money on it, cool. You can make money on the Las Vegas strip too, but more people will lose ultimately. That's how gambling works, BTC is a gamble, not an investment.
I'd rather gamble in LV , at least then I'm hammered when I lose it all.
It's such classic bubble mentality.
The real issue is the price volatility will keep major, legitimate companies from accepting payment universally. Selling a coffee of bagel is low risk...but a car or house? Not going to happen. Volatility will ultimately be the death of it once people realize that it's inherently worthless.
Then there's the fact that it takes more power than the country of Denmark consumes to keep the system going, and it's just a ticking time bomb.
Cryptocurrency will be here to stay in one form or another, but once this bubble bursts, it'll go back to being solely for international drug dealers and trolls.
When I say it's cheap, I mean it's cheap. To buy portions of it. I have a feeling it will hit 20k soon, eventually 50k, 100k, possibly even 1 mil. That's why it's "cheap". My coworker's boyfriend just bought 1 Bitcoin around $12,000 over the weekend.
It's now at $15,900.
Actually it juts broke $16,000 and is now $16,140. It went up $200 as I typed this post.
My mom gave me $100 to put in @ $4800. Now her investment is over $350.
My $5 referral bonus back in 2013 is now worth over $85.
Actually now it's $16,272.
$1 million? How? Why? What in the fuck makes you think that? It's a literally useless thing. The "value" is based solely on hype. It WILL crash. Now, sure, it could hit $20k or even $50k first, but it will crash and everyone in it will lose all of it. It has no real value whatsoever. Anyone that's making money on it, cool. You can make money on the Las Vegas strip too, but more people will lose ultimately. That's how gambling works, BTC is a gamble, not an investment.
I'd rather gamble in LV , at least then I'm hammered when I lose it all.
Bitcoin was worth $0.003 in 2009 or something. You would've said the same thing if someone said it would hit $10, or from $10 to $100. or from $1000 to $10,000...but look now.
$1 million? How? Why? What in the fuck makes you think that? It's a literally useless thing. The "value" is based solely on hype. It WILL crash. Now, sure, it could hit $20k or even $50k first, but it will crash and everyone in it will lose all of it. It has no real value whatsoever. Anyone that's making money on it, cool. You can make money on the Las Vegas strip too, but more people will lose ultimately. That's how gambling works, BTC is a gamble, not an investment.
I'd rather gamble in LV , at least then I'm hammered when I lose it all.
Bitcoin was worth $0.003 in 2009 or something. You would've said the same thing if someone said it would hit $10, or from $10 to $100. or from $1000 to $10,000...but look now.
You didn't read all of what I wrote, sure, it could get to $20k, $50k, $100k (pretty unlikely, IMO), but then it will burst and everyone in it will lose all of their "investment".
nuggstein wrote: ↑Thu Dec 07, 2017 11:08 am
Bitcoin was worth $0.003 in 2009 or something. You would've said the same thing if someone said it would hit $10, or from $10 to $100. or from $1000 to $10,000...but look now.
You didn't read all of what I wrote, sure, it could get to $20k, $50k, $100k (pretty unlikely, IMO), but then it will burst and everyone in it will lose all of their "investment".
It could be an awesome "investment" for the person who sells at precisely the right time
I just know because I've gambled before that I'd be the person to hold on until it shits the bed.
How is it useless? It's literally a currency...an internet currency, that is used GLOBALLY, can be converted into ANY other physical currency or cryptocurrency, and can be used to purchase physical or virtual items. It avoids the government, and it avoids banks.
The real issue is the price volatility will keep major, legitimate companies from accepting payment universally. Selling a coffee of bagel is low risk...but a car or house? Not going to happen. Volatility will ultimately be the death of it once people realize that it's inherently worthless.
Then there's the fact that it takes more power than the country of Denmark consumes to keep the system going, and it's just a ticking time bomb.
Cryptocurrency will be here to stay in one form or another, but once this bubble bursts, it'll go back to being solely for international drug dealers and trolls.
These are one-off instances where the seller was dumb enough to accept it. And in this market, it makes sense that you'd find some people willing to take the risk.
Think about it.
Sell property for 1 BTC = 15,000 USD or whatever. The next day, it's worth 10,000 USD. You just lost $5k on your property sale. Sure the next day it could go to $18k and you just made $3k, but there's too much uncertainty for most people to take on. Trading physical property for digital money (aka worthless) is super risky no matter how you look at it.
Currency valuation is a major line item of revenue/loss in corporate accounting. This will keep BTC out of the mainstream for a long time.
Major companies and corporations won't be willing to take on the risk universally for anything more than coffee and donuts until the price stabilizes for a while. And that doesn't seem likely for a while.
BTC is one major hack away from being the butt of VH1 "Remember 2017" jokes in 2020.
Desertbreh wrote: ↑Tue Oct 10, 2017 6:40 pm
My guess would be that Chris took some time off because he has read the dialogue on this page 1,345 times and decided to spend some of his free time doing something besides beating a horse to death.
There is some good philosophy behind it, but this is ridiculous growth that;s synonymous with a bubble.
It's a fun ride, and I'm REALLY tempted to pull my initial investment out, and let the rest ride, but don't get too fan boi into this.
4zilch wrote: ↑Mon Apr 12, 2021 8:46 am
I'm a fucking failure.
Anyone got stock they're looking at buying into? I just gave up on an aluminum company that's been struggling for a bit and want to put it into something that'll perform better. Tempted to just by more stock in Lockheed Martin or Northrop.
Johnny_P wrote: ↑Thu Dec 07, 2017 11:24 am
Anyone got stock they're looking at buying into? I just gave up on an aluminum company that's been struggling for a bit and want to put it into something that'll perform better. Tempted to just by more stock in Lockheed Martin or Northrop.
Unless you're looking to play, I'd just dump it into an index or something.
Desertbreh wrote: ↑Tue Oct 10, 2017 6:40 pm
My guess would be that Chris took some time off because he has read the dialogue on this page 1,345 times and decided to spend some of his free time doing something besides beating a horse to death.
I'm also seriously considering shorting bitcoin futures. I'm probably too risk averse, doe...the bubble popping is just too hard to predict.
Desertbreh wrote: ↑Tue Oct 10, 2017 6:40 pm
My guess would be that Chris took some time off because he has read the dialogue on this page 1,345 times and decided to spend some of his free time doing something besides beating a horse to death.
Detroit wrote: ↑Thu Dec 07, 2017 11:25 am
I'm also seriously considering shorting bitcoin futures. I'm probably too risk averse, doe...the bubble popping is just too hard to predict.
So invest $3k. If it pops you'll lose half before you pull it out. If it doesn't pop you'll gain a bit.
Detroit wrote: ↑Thu Dec 07, 2017 11:25 am
I'm also seriously considering shorting bitcoin futures. I'm probably too risk averse, doe...the bubble popping is just too hard to predict.
So invest $3k. If it pops you'll lose half before you pull it out. If it doesn't pop you'll gain a bit.
Right. I may have to play with it.
Desertbreh wrote: ↑Tue Oct 10, 2017 6:40 pm
My guess would be that Chris took some time off because he has read the dialogue on this page 1,345 times and decided to spend some of his free time doing something besides beating a horse to death.
Detroit wrote: ↑Thu Dec 07, 2017 11:32 am
Right. I may have to play with it.
Just know going into it that you have a chance of losing whatever your initial investment is. Make it a reasonable amount.
Oh totally.
Desertbreh wrote: ↑Tue Oct 10, 2017 6:40 pm
My guess would be that Chris took some time off because he has read the dialogue on this page 1,345 times and decided to spend some of his free time doing something besides beating a horse to death.
troyguitar wrote: ↑Thu Dec 07, 2017 11:41 am
It still boggles my mind that y'all have thousands of dollars to gamble with like that.
It all depends how stingy you want to be with your savings. With a healthy "slush fund", losing a few K isn't the end of the world.
Desertbreh wrote: ↑Tue Oct 10, 2017 6:40 pm
My guess would be that Chris took some time off because he has read the dialogue on this page 1,345 times and decided to spend some of his free time doing something besides beating a horse to death.
Johnny_P wrote: ↑Thu Dec 07, 2017 11:46 am
Paging : How do you even buy into something like that?
He doesn't. It's why he constantly posts about it as he laments the fact that others are getting rich for doing nothing ( dream) and he's not.
Desertbreh wrote: ↑Tue Oct 10, 2017 6:40 pm
My guess would be that Chris took some time off because he has read the dialogue on this page 1,345 times and decided to spend some of his free time doing something besides beating a horse to death.
, at least then I'm hammered when I lose it all.
thinks it'll be worth $1 million and why he isn't buying if that's the case.
something that'll perform better. Tempted to just by more stock in Lockheed Martin or Northrop.
dream) and he's not.