Is anyone watching Bitcoin? It's over 61,000 this morning!

[Blues Man]

There’s a big difference. The lottery has one in the millions of chance of winning.

Bitcoin is entirely different. It has created many many more millionaires even folks who have made $10,000 or more compared to the lottery. We’re talking about a huge difference.

Traditional ways of making money like opening up a restaurant is extremely. Some 50% of restaurants fail in the first year

What good is a million dollars if it can be worth 90% less tomorrow for no reason?

And if you are playing the stock market to "make money" good luck,

Investing for financial security is not buying the latest hot stock.

It's a strategy played out over decades.

But hey feel free to dump your portfolio into bitcoin if you want have fun

 

[Blues Man]

Never put all of your eggs in one basket. People could simply put a certain percentage of their investing money into bitcoin. Of course that’s if they’re lucky to have it. Most Americans don’t have the money for stocks let alone $1000 emergency. Something like 57% of Americans can’t afford an emergency for a few thousand dollars.

It’s a tough time for the middle class these days

My portfolio is well diversified. I retried at the age of 51 because it is.

There will be no extremely volatile investments for me and I don waste money in casinos and bit coin is just as speculative a bet as roulette.

 

[Andrew_Jackson_FTW]

What good is a million dollars if it can be worth 90% less tomorrow for no reason?

And if you are playing the stock market to "make money" good luck,

Investing for financial security is not buying the latest hot stock.

It's a strategy played out over decades.

But hey feel free to dump your portfolio into bitcoin if you want have fun

But there are people who are ignorant about bitcoin. It’s simply a matter of investing a percentage of your portfolio into bitcoin. And if you invest a small percentage, you will not stand to lose much. That’s common sense anybody who pets a significant percentage of their net net worth into one investment is engaging in risky business whether it’s any stock, Amazon, Tesla, you name it any company can go under in one day.

There are non-cryptocurrencies that are more volatile compared to bitcoin.


It seems to me you’re acting like somebody would invest a significant portion of their wealth into one investment. That’s the wrong thing to do whatever it might be.

For many people, bitcoin has been a success story.

 

[Andrew_Jackson_FTW]

My portfolio is well diversified. I retried at the age of 51 because it is.

There will be no extremely volatile investments for me and I don waste money in casinos and bit coin is just as speculative a bet as roulette.

With respect that is not accurate. Bitcoin is less risky compared to spitting a roulette wheel.

Are you mad or something lol .

Good job brother I’m happy for you honestly. Now we both know that most Americans can’t afford to do the kind of things that stock investors are doing. 57% of Americans don’t have a few thousand dollars available for an emergency. This is not what it used to be. The middle-class is struggling in America today.

I did not invest in the bitcoin but I say hats off to the brilliant people who bought the coin at under $100 or even at 10,000 and now they’re investment is worth six times as much. You see you can call it brilliant or lucky ….it doesn’t matter. They made a ton of money. And so good for them. I sent some jealousy from some people out there who are the ones claiming that bitcoin is some kind of stupid investment or your investing into into nothing. Clearly, as long as they made money who cares what happens to the coin in the future.


There are people who spend countless hours every day, studying the trends of cryptocurrency. To attempt to say “they don’t have any kind of they can lose all their money Tomorrow” is ignorance. And this is nothing against you. But it’s really important to understand that cryptocurrency is a serious thing, and for years now people who have no idea how the crypto market works have been saying “you can invest in bitcoin and lose all your money in the next day”. They’ve been saying it for many years. And it’s a position of ignorance. It would be like somebody like me who’s never been in the restaurant industry attempting to tell somebody

“hey you’re dumb to invest in the restaurants you can easily lose everything.”

 

[Sunni Man]

Bitcoin is 100% is a scam.
It's like the game musical chairs.
One day the music will stop playing and lots of people aren't going to have a chair.

 

[MarathonMike]

Bitcoin is 100% is a scam.
It's like the game musical chairs.
One day the music will stop playing and lots of people aren't going to have a chair.

I've read lots about the concept and the technology behind it and I tend to agree. It's an amazing thesis paper that turned into a TRILLION DOLLAR industry. WTF?

 

[MarathonMike]

This is an interesting article about Chinese investors buying up Bitcoin as the Chinese stock market has been tanking. Could explain at least partly why BC is on such a tear.

https://www.reuters.com/technology/bruised-by-stock-market-chinese-rush-into-banned-bitcoin-2024-01-25/

 

[DudleySmith]

All gains from this sort of idiot gambling should be taxed at 90%. to help offset the inevitable bankruptcies and bailouts that follow.

 

[dblack]

Good

All gains from this sort of idiot gambling should be taxed at 90%. to help offset the inevitable bankruptcies and bailouts that follow.

Good luck with that. The whole point of Bitcoin is to free us from that kind meddling horse shit.

 

[Sunni Man]

Bitcoin is backed by nothing and no one.
Just

The whole point of Bitcoin is to free us from that kind meddling horse shit.

The only thing Bitcoin is going to free you from is your money, ..

 

[dblack]

Bitcoin is backed by nothing and no one.
Just

The only thing Bitcoin is going to free you from is your money, ..

Mind your own business then.

 

[Sunni Man]

Mind your own business then.

Make me Poindexter. ..

 

[dblack]

Make me Poindexter. ..

Oh, I can't really do that. Meddling twats like you live to bully others. Or rather, hide behind the government while it bullies others on your behalf. Either way, you're a blight. Please die soon.

 

[MarathonMike]

It is mind boggling the money that is flowing into cyber currencies. It looks like it's FOMO plus global investors from China and other floundering economies pushing it higher. Now over $66K!! Wow.

 

[Sunni Man]

Oh, I can't really do that. Meddling twats like you live to bully others. Or rather, hide behind the government while it bullies others on your behalf. Either way, you're a blight. Please die soon.

Oh, you poor thing.
Did someone call you by the wrong pronoun? ..

 

[DudleySmith]

Good

Good luck with that. The whole point of Bitcoin is to free us from that kind meddling horse shit.

The whole point of Bitcoin is sucking money out of the pockets of idiots.

 

[DudleySmith]

It is mind boggling the money that is flowing into cyber currencies. It looks like it's FOMO plus global investors from China and other floundering economies pushing it higher. Now over $66K!! Wow.

One of the main causes of the Great Depression was paper returns on Wall Street gambling sucked money out of the real economy into pyramid schemes and trusts built on fake 'equity'. This is just another scam in the same vein.

 

[MarathonMike]

It would be interesting to see where the money is coming into BC by country.

 

[odanny]

So does anyone know if you sell your Bitcoin now can you have those profits transferred to a brick and mortar style bank account? Can you have those funds transferred into a traditional currency like the. USD or the Euro?

Would be nice to have someone come here and explain cashing out digital currencies.

 

[dblack]

So does anyone know if you sell your Bitcoin now can you have those profits transferred to a brick and mortar style bank account? Can you have those funds transferred into a traditional currency like the. USD or the Euro?

Would be nice to have someone come here and explain cashing out digital currencies.

You just sell them. Same way you buy them. Either via an exchange or direct transaction..