[Aces4]

Originally Posted by DrMack

Bitcoin block chain will be hacked eventually. In 10 years folks will be laughing at what people paid for it. Technology will well have surpassed hacking block chain tech.

And by the time that happens, my guess is there will be many very rich people from their investment in bitcoin and cashing it in. Also, in 10 years there is a chance that BRIC will have decimated our belief in the dollar so many will be holding worthless paper. Time will tell.

[rsmurano]

Originally Posted by CoachKandSportsguy

And that's any different than houses? cars? groceries? memberships? a lifestyle? jail time?

if you think its worth the price or cost, then you have a tendency to buy, if not you pass. .

Everything you listed is a liability. Your house is not an asset, it’s a liability. Unless you sell it, make money renting it out, it’s a liability even if it’s paid off. You have to pay property taxes on it, insurance on it, and if you don’t pay your taxes, they can take it from you.

[Cuervo]

Originally Posted by CoachKandSportsguy

And that's any different than houses? cars? groceries? memberships? a lifestyle? jail time?

if you think its worth the price or cost, then you have a tendency to buy, if not you pass. .

I hope you understand the difference between houses, cars, groceries and lifestyle.
Even if these drop in value you can still live in the house, get into your car to drive to the store to buy groceries that you will consume, to continue your lifestyle whatever that is.
Your Bit Coin drops in value, what do you have.
I don't understand what you mean by jail time.

[dewilson58]

Originally Posted by Aces4

Kinda like the dollar bill, it's only worth what we think it is worth.

& gold.

[RyFLGA]

Many said indoor plumbing wouldn’t work either. Might want to hop on the evolution train.

[ithos]

Originally Posted by Aces4

You just made a sound case for bitcoin.

I don't own any part of a bitcoin or whole bitcoins and never will. The framework for the dollar and bitcoin are the same, belief in value.

The only good reason to ever buy crypto was to get rich quick. If you did then congratulations. Of course there are hundreds of stocks that you could have bought and had similar results.

But those days are over and there is no compelling reason to buy crypto. Why invest in something that people warn "not your keys, not your coin."

And if you think exchanges are safe then you should spend some time reading the horror stories on reddit.
Be careful, I lost my life savings to Binance
https://www.reddit.com/r/binance/com...gs_to_binance/
You will not get the same prompt attention that you do from your bank.

[SaucyJim]

Originally Posted by Aces4

A house, cars, groceries, memberships, lifestyles, jails are tangibles. So is a dollar bill in that it's made of paper or linen. The value of said dollar bill is in our mindset unless you're using it to start a fire.

The material makeup of a currency provides a fraction of the the value it is supposed to represent. You are right that it can be burned as fuel, but there are better-value fuels out there.

Tangibles can be traded as themselves. Wine to drink. Cigarettes to smoke. Food to eat. Not a means of exchange, but a direct trade. When the house of cards collapses, I’d rather have 1000 bottles of wine than $10k of paper losing value by the hour via hyperinflation.

Crypto, through its limited quantity will be much more stable than the dollar, as no one can print more of it, devaluing it over and over again.

If anything is a Ponzi scheme, it’s the dollar. Not bitcoin.

[Wondering]

Originally Posted by MorTech

Funny clarification....

https://www.youtube.com/watch?v=mo2NRBMyDMA

This fast talking presenter proves that Bitcoin is indeed a Ponzi scam, if not a Ponzi, it's a digital scam!

[RoboVil]

An alternative to buying bitcoin outright and paying fees to buy and sell is to buy an ETF. IBIT is one of the more popular ETFs.

[terryf484]

Originally Posted by MorTech

Funny clarification....

https://www.youtube.com/watch?v=mo2NRBMyDMA

No wonder "he" is encouraging everyone to invest in Bitcoin.

[Boilerman]

I used to think bitcoin was a scam but there is a lot of momentum towards bitcoin becoming mainstream including the US government starting a bitcoin reserve. International acceptance makes it look a lot like gold as an investment. I’m coming around to considering IBIT to help diversify.

It’s probably more speculative than many retirees can stomach. But I do think it’ll continue to grow in acceptance.

[SoCalGal]

Originally Posted by Whatnext

Ponzi or no Ponzi.
I wish I had bought $100 of them when they first came out!

YUP... You'd be a multi-millionaire today.

[OrangeBlossomBaby]

Originally Posted by DrMack

Bitcoin block chain will be hacked eventually. In 10 years folks will be laughing at what people paid for it. Technology will well have surpassed hacking block chain tech.

The current administration plans for the taxpayers to pay for it.

[Aces4]

Originally Posted by OrangeBlossomBaby

The current administration plans for the taxpayers to pay for it.

What is the current administartion planning to have paid for by taxpapers? You lost me there.

[OrangeBlossomBaby]

Originally Posted by Aces4

What is the current administartion planning to have paid for by taxpapers? You lost me there.

Establishment of the Strategic Bitcoin Reserve and United States Digital Asset Stockpile – The White House

Note - this was ordered back in March, and they've been in the process of ramping up implementation. It's been in the news within the past week.