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Originally Posted by DAVES
I must be old fashioned I see no relationship between bit coin and the value of the COKE logo.
In terms of an investment, I own K as stated I do not own bitcoin and have no faith in it.
Buying something where it is unknown who created it. Faith that it can't be reproduced? Actual bitcoins, there are tons of fakes around. As stated, compared, the tulip bulb Ponzi Scheme some made a lot of money due to wild swings. Bitcoin offers that. Right now the swing is DOWN and that seems to be the momentum. Will it change? Will it recover to the price you paid? I do not know. I truly wish you well.
I'm not in it. I've given my reasons.
A store of value? All kinds of thing have been used as money. A buck was a a buck, a deerskin. A shot of whiskey was because you could trade a bullet for it. Bitcoin the value changes every second, you need a WORKING computer and a broker to turn it into coin of the realm.
In terms of investing, bitcoin is not the only thing I am not buying.
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Can’t argue about volatility but this pullback isn’t as big as 17-18 was. And you do need a computer but a certain amount of infrastructure is needed for most anything these days. I’m not aware of any fake Bitcoin out there… that’s one of the best things about it.
Will it go the way of the pet rock or the the way of the internet?
Joe