Current Events > Bitcoin is literally free and easy money. Why are you not buying?

(+) Yeah! (+)

https://www.youtube.com/watch?v=XbZ8zDpX2Mg

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Yeah it's too high I wouldn't buy now. I'm holding though

i keep reading about potential corrections to 30-35 being a good place to get in

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EndOfDiscOne posted...

https://www.youtube.com/watch?v=XbZ8zDpX2Mg

2015 video and it's still relevant

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ROOTFayth posted...

I dont think you understand the point of a currency, we actually want bitcoin to become mainstream and use to buy goods

what about FX trading, is this a ponzi?

I don't think you understand the point of currency. How does going from $25k to $50k help its case as a currency? You want people to spend your currency. You want to expand places where it can be used. You want it accepted everywhere. People holding it or buying to hold it does nothing for it's value as a currency.

Imagine if people did the same for the dollar. Hey I'm not going to buy a car yet because tomorrow I might be able to buy a Mercedes instead of a Toyota because the dollar fluctuated.

Or you go through a drive-thru, give $5 for your meal, and the workers tell you "Sorry sir. The dollar dipped today. It's $7.50." Then you go the next day you go, the meal is $4.

But hey, it sounds like you're an early "investor." Might as well make more money getting new people to buy into the Ponzi.


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Squall28 posted...

I don't think you understand the point of currency. How does going from $25k to $50k help its case as a currency? You want people to spend your currency. You want to expand places where it can be used. You want it accepted everywhere. People holding it or buying to hold it does nothing for it's value as a currency.

Imagine if people did the same for the dollar. Hey I'm not going to buy a car yet because tomorrow I might be able to buy a Mercedes instead of a Toyota because the dollar fluctuated.

Or you go through a drive-thru, give $5 for your meal, and the workers tell you "Sorry sir. The dollar dipped today. It's $7.50." Then you go the next day you go, the meal is $4.

But hey, it sounds like you're an early "investor." Might as well make more money getting new people to buy into the Ponzi.

are you gonna respond to #33 or

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im not 13 posted...

2% of a BTC is relevant bro. Unless you are a millionaire or something

2% is 2% regardless of how much money you have

Choco posted...

are you gonna respond to #33 or

I didn't see post #33 but it sounds like the post you quoted already addressed it. It has no value as a currency.

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Squall28 posted...

I don't think you understand the point of currency. How does going from $25k to $50k help its case as a currency? You want people to spend your currency. You want to expand places where it can be used. You want it accepted everywhere. People holding it or buying to hold it does nothing for it's value as a currency.

Imagine if people did the same for the dollar. Hey I'm not going to buy a car yet because tomorrow I might be able to buy a Mercedes instead of a Toyota because the dollar fluctuated.

Or you go through a drive-thru, give $5 for your meal, and the workers tell you "Sorry sir. The dollar dipped today. It's $7.50." Then you go the next day you go, the meal is $4.

But hey, it sounds like you're an early "investor." Might as well make more money getting new people to buy into the Ponzi.

Exactly. It dips, it rises and falls, but at this point you know its going to recoup value. You can also always change the price to equivalency of the USD, add a surcharge for crypto as a buffer, and then immediately sell once completing the transaction and are literally making a profit per transaction.

Youre just going to get grayer and older at this point. Do you still remember what fun is, what dreams taste like?

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Squall28 posted...

I didn't see post #33 but it sounds like the post you quoted already addressed it. It has no value as a currency.

Tesla plans to accept it as payment; I expect others will follow suit.

Choco posted...

just like normal money. it's almost as if currency only has value because people agree that it has value. what a concept.

Yeah, the US dollar is backed by nothing but a little-known entity known as the US government.

Choco posted...

"i admit that it keeps going up but i don't like the reason why it happens >:("

If you want to argue that bitcoin has inherent value, then you'll have to give a more compelling reason than rampant speculation, otherwise beanie babies would be a valid currency. Hell, at least beanie babies are tangible.

Choco posted...

and yet it worked fine for the people of nigeria until their shitty government banned it

what an incredibly dumb post

Looks like it didn't work because the government can simply ban it. What do you think would happen if bitcoin somehow threatened to undermine the US dollar?

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Squall28 posted...

I don't think you understand the point of currency. How does going from $25k to $50k help its case as a currency? You want people to spend your currency. You want to expand places where it can be used. You want it accepted everywhere. People holding it or buying to hold it does nothing for it's value as a currency.

Imagine if people did the same for the dollar. Hey I'm not going to buy a car yet because tomorrow I might be able to buy a Mercedes instead of a Toyota because the dollar fluctuated.

Or you go through a drive-thru, give $5 for your meal, and the workers tell you "Sorry sir. The dollar dipped today. It's $7.50." Then you go the next day you go, the meal is $4.

But hey, it sounds like you're an early "investor." Might as well make more money getting new people to buy into the Ponzi.

the current currency is hey I should spend all my money asap because it currently is depreciating every single day because it's garbage

how is it better? also in case you didn't notice, gold when I bought it in 2011 was at 1300$/oz, it went up to ~1800$/oz in about a year then the following 5 yrs it just dwindled back down to 1300$, how is it better in any way than bitcoin? because it has a little bit of practicality? lol

Robot2600 posted...

Tesla plans to accept it as payment; I expect others will follow suit.

Yeah, they plan to accept it as payment like any other company that has accepted bitcoin in the past -- they instantly convert the amount to a real currency like USD.

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1337toothbrush posted...

If you want to argue that bitcoin has inherent value

??? can you even read

1337toothbrush posted...

then you'll have to give a more compelling reason than rampant speculation, otherwise beanie babies would be a valid currency. Hell, at least beanie babies are tangible.

if enough people agree that they are a currency then they are a currency

1337toothbrush posted...

Looks like it didn't work because the government can simply ban it.

you could say that about literally anything

1337toothbrush posted...

What do you think would happen if bitcoin somehow threatened to undermine the US dollar?

isn't that literally impossible because dollar good bitcoin bad?

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Robot2600 posted...

Tesla plans to accept it as payment; I expect others will follow suit.

Let me ask you this. Would you rather buy a tesla with bitcoin or with dollars? Do you think the bitcoin would be worth more if you had kept it instead of spent it? We already know the dollar will be worth less due to inflation.

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ROOTFayth posted...

the current currency is hey I should spend all my money asap because it currently is depreciating every single day because it's garbage

how is it better? also in case you didn't notice, gold when I bought it in 2011 was at 1300$/oz, it went up to ~1800$/oz in about a year then the following 5 yrs it just dwindled back down to 1300$, how is it better in any way than bitcoin? because it has a little bit of practicality? lol

You're making his point for him. There's a reason why gold isn't accepted as a form of payment. A controlled ~2% inflation rate is much more desirable than crazy double or even triple digit jumps in percent. 2% is too small to think "I have to spend this immediately!!"

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1337toothbrush posted...

You're making his point for him. There's a reason why gold isn't accepted as a form of payment. A controlled ~2% inflation rate is much more desirable than crazy double or even triple digit jumps in percent. 2% is too small to think "I have to spend this immediately!!"

except inflation is 10% for the past 10 years, so much for the "controlled 2% inflation" bro

I bought $500 of bitcoin a couple weeks ago and i'm already up $150 on it.

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ROOTFayth posted...

except inflation is 10% for the past 10 years, so much for the "controlled 2% inflation" bro

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Choco posted...

??? can you even read

Oh sorry, your argument is even stupider than I thought. You're putting bitcoin on the same foot as the US dollar because you boiled it all down to "some people agree to use it!" Who agrees to use it and in what manner makes all the difference.

Choco posted...

if enough people agree that they are a currency then they are a currency

Again, who agrees to use it and for what purposes makes all the difference.

Choco posted...

you could say that about literally anything

Yeah, I'm sure the US government will ban US dollars.

Choco posted...

isn't that literally impossible because dollar good bitcoin bad?

Yes, but if it did then you'd still lose, which was my point.

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Squall28 posted...

Let me ask you this. Would you rather buy a tesla with bitcoin or with dollars? Do you think the bitcoin would be worth more if you had kept it instead of spent it? We already know the dollar will be worth less due to inflation.

I rather buy with dollars than Bitcoin

Rather trade a depreciating asset for another depreciating asset.

Squall28 posted...

well that is unless we want to pretend that the price of rent/housing doesn't matter at all

I'm curious about the naysayers, how much in % have you made with your investments so far? do you beat actual inflation?

ROOTFayth posted...

I'm curious about the naysayers, how much in % have you made with your investments so far? do you beat actual inflation?

1337toothbrush posted...

*makes $50 million off a $1 lottery ticket*

Can't argue with those returns!!

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ROOTFayth posted...

I'm curious about the naysayers, how much in % have you made with your investments so far? do you beat actual inflation?

Lol they ain't invested anything in anything, they're couch potatoes

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yeah comparing massively +EV investments with lottery tickets is very smart, since you know better what the good investments are you must be very rich, how many millions?

ROOTFayth posted...

yeah comparing massively +EV investments with lottery tickets is very smart, since you know better what the good investments are you must be very rich, how many millions?

$1 to $50,000,000! My investment in a lottery ticket paid off and it was due to my supreme intelligence.

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1337toothbrush posted...

$1 to $50,000,000! My investment in a lottery ticket paid off and it was due to my supreme intelligence.

lol so you're saying you're not investing anything? Just lettin what little money you have depreciate

I think we can safely shelve this troll back under his bridge next to his copper pot.

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ShyOx posted...

lol so you're saying you're not investing anything? Just lettin what little money you have depreciate

I think we can safely shelve this troll back under his bridge next to his copper pot.

Not surprising that someone like you would miss the point.

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1337toothbrush posted...

$1 to $50,000,000! My investment in a lottery ticket paid off and it was due to my supreme intelligence.

Look dude, you don't like money, it's fine, just spend it on video games and fast food, I'll keep investing and diversifying, crypto is going to be part of that diversification until I have a reason not to

1337toothbrush posted...

*makes $50 million off a $1 lottery ticket*

Can't argue with those returns!!

The sad thing is that even if the price goes up to $1 million, you'll still be saying the same thing. Unlike with lottery tickets, there are valid reasons to believe that the price of BTC will go up over the long term. You've been saying that BTC is a bad investment since before $20k at least. I hope no one listened.

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1337toothbrush posted...

Not surprising that someone like you would miss the point.

I asked if you were investing anything. Ive got actual stocks with the bigger monies. You clearly have not thought enough about your future long term.

We got the joke on the first post and giggled, what made you think it was going to be witty upon the third post

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ROOTFayth posted...

Look dude, you don't like money, it's fine, just spend it on video games and fast food, I'll keep investing and diversifying, crypto is going to be part of that diversification until I have a reason not to

Diversification is fine, but delusions of crypto being a proper currency.

EndOfDiscOne posted...

The sad thing is that even if the price goes up to $1 million, you'll still be saying the same thing. Unlike with lottery tickets, there are valid reasons to believe that the price of BTC will go up over the long term. You've been saying that BTC is a bad investment since before $20k at least. I hope no one listened.

The sad thing is that you completely missed the point. The huge return doesn't make it a wiser investment because it's not an investment, it's speculation i.e. glorified gambling. You're a genius until suddenly you're not and "buying the dip" suddenly becomes "holding the bag". Oh, but maybe there'll be another run-up three years from now.

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I expect some sort of normal pullback in stocks and crypto sometime this year after the crazy runs. Just hold if you are in for the long term. I remember some people on this board were still scared to put money in when the market was down over 30% last year and btc was under 5,000. Now that was free money.

ShyOx posted...

I asked if you were investing anything. Ive got actual stocks with the bigger monies. You clearly have not thought enough about your future long term.

We got the joke on the first post and giggled, what made you think it was going to be witty upon the third post

Yes, I'm invested in real companies that actually produce things, but that doesn't matter because your argument hinges on the idea that a big return means you're more correct. Following your logic, penny stocks are the future.

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2Pacavelli posted...

I rather buy with dollars than Bitcoin

Rather trade a depreciating asset for another depreciating asset.

What would have to happen for Bitcoin to be your currency of choice?

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Because I'm still waiting on binance to complete my identity verification after 3 weeks.

Why can't I use eTrade or some other platform I already have

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well unless you have a lot of capital you probably should focus on micro caps companies, return is just better

theAteam posted...

Because I'm still waiting on binance to complete my identity verification after 3 weeks.

same thing happened in 2017, you know you could have made your account when bitcoin was going to shit a year ago :D either way you'll get your account eventually there are just way too many requests right now, binance is the biggest exchange

fwiw regardless of if it's bitcoin or not we know that the future is cryptocurrencies anyway, everything becomes digitalized eventually, no reason why money wouldn't

ROOTFayth posted...

same thing happened in 2017, you know you could have made your account when bitcoin was going to shit a year ago :D either way you'll get your account eventually there are just way too many requests right now, binance is the biggest exchange

If I had that kind of foresight I would have put everything I owned into tesla

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ROOTFayth posted...

fwiw regardless of if it's bitcoin or not we know that the future is cryptocurrencies anyway, everything becomes digitalized eventually, no reason why money wouldn't

Real money is already digitized. Have you ever heard of online banking? Crypto fanatics love to think they're doing something new.

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1337toothbrush posted...

Real money is already digitized. Have you ever heard of online banking? Crypto fanatics love to think they're doing something new.

Centralized, not digitized. It's still accounted for and banks eventually reconcile debts among themselves. You think that's entirely your money after you give it to them lol?

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1337toothbrush posted...

Real money is already digitized. Have you ever heard of online banking? Crypto fanatics love to think they're doing something new.

well money that can't be printed ideally, what's happening during the pandemic is theft in broad daylight but you've got the plebs thinking "lol 1200$ stimulus check, free money, woohoo!", even more lol if you've spent that money

ROOTFayth posted...

I'm curious about the naysayers, how much in % have you made with your investments so far? do you beat actual inflation?

It's not hard to beat inflation. You can just buy a REIT or get a stock with decent dividends. I'm mostly in stocks, and I'm doing very well for myself. The companies I own all have solid profits and are growing every year. I've been investing for 9 years now, and I'm reaching the point where I can live off the yearly return of my investments. The key being that my my investments are pretty much guaranteed to get me that return. I'm not over here holding my breath on what's going to happen with the price.

But all that's beside the point. I'm not saying you can't make money off Bitcoin. Ponzi schemes make money for early adopters. That's why people do them. It doesn't mean it isn't a scam though.

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ShyOx posted...

Centralized, not digitized. It's still accounted for and banks eventually reconcile debts among themselves. You think that's entirely your money after you give it to them lol?

A thing can be both centralized and digitized. Why are you making assumptions as to what I think?

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well there's no convincing you, but no you won't be able to live off the return on your investments unless you gradually decrease your lifestyle

anyway it's pretty hard to beat real inflation which is sure as hell not 2%, BUT if it makes you feel better to think it is then by all mean buddy, more power to you

fwiw bitconnect was a clear ponzi, bitcoin isn't

ROOTFayth posted...

well money that can't be printed ideally, what's happening during the pandemic is theft in broad daylight but you've got the plebs thinking "lol 1200$ stimulus check, free money, woohoo!", even more lol if you've spent that money

Spoiler alert: cryptocurrencies can also be printed, it depends on implementation. Just look at Tether, which is a huge driving force behind this pump and the 2017 pump: https://onlinelibrary.wiley.com/doi/full/10.1111/jofi.12903

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1337toothbrush posted...

Spoiler alert: cryptocurrencies can also be printed. Just look at Tether, which is a huge driving force behind this pump and the 2017 pump: https://onlinelibrary.wiley.com/doi/full/10.1111/jofi.12903

well aware which is why in an ideal world we get a decentralized digitized currency with a capped supply, will it happen? I don't know but it would be for the best