Quote:
Originally Posted by DAVES
My opinion, the old line is hindsight is always 20-20. Foresight is far more valuable.
The world is full of opportunities. As what it is worth now, the same thought applies to stuff like Amazon, Apple, Microsoft.
As I stated, my opinion bit coin is ponzi scheme. It is valid to say the US dollar is no longer backed by any real value ie gold or silver. It is sad to read backed by the full faith and credit of the United States. I expect most think that is a depreciating value.
Bitcoin is backed by NOTHING. The creator does not exist. Rumor is it is a man, other rumors a woman and still others a group of people. The value has wild swings. To buy say a car, with bitcoin on a day when the value changes by down 12%. A 30,000 car could cost you 30,000 or 30,000 plus 12% 33,600.
You can make money on anything with wild swings. It is called day trading. Losses, you can deduct, if I recall 3,000. Gains it is all taxed at your highest income tax rate-short term gains and there is no 3,000 limit on taxable gains.
I have a strange view of everything I call it self responsibility. I am interested in learning.
I feel you learn more from people who do not agree with you than from people who do.
Most people only LISTEN to people who agree with them. They do not realize they are talking to themselves.
|
Maybe it would be a good idea for you to join the club. You'll certainly get differing opinions as to the viability of cryptos and thus, a learning experience for you. A forum blog like this isn't really sufficient to discuss cryptos in depth. Join the club and learn. Members may very well learn from you as well.
I look at Bitcoin as an invention of a new type of currency. It's not really created out of thin air. Precious metals need picks and shovels to be found and created into currency. Bitcoin is mined with supercomputers. Both assets are out there. You just need the correct tools to obtain them.
The beauty of bitcoin is it can't be manipulated. Eventually there will be a fixed amount in circulation and there will be no government that can change that. Market forces will dictate it's value. Slowly but surely, it's becoming widely accepted and that's really all that's needed for it to become 'real'.