[JMintzer]

Originally Posted by jimjamuser

I must have had a pulse years ago (not sure today) because I bought Apple (AAPL) at about $ 25 and sold it at around $ 50. I bragged to everyone about how smart I was. Then, it began doubling and I was no longer smart.

[Boston-Sean]

Originally Posted by Aces4

Just for clarity, are you talking about crypto currencies or the American dollar? The premise for both is the same. Something for absolutely nothing.

Not the same when it comes to Bitcoin. There is a limit to how many Bitcoins will be created.

[Aces4]

Originally Posted by Boston-Sean

Not the same when it comes to Bitcoin. There is a limit to how many Bitcoins will be created.

True, that would make Bitcoin more valuable.

[tophcfa]

Originally Posted by Boston-Sean

It's the mining that takes up all the energy. Not the trading. Once all of the bitcoins have been mined (about 120 years from now) most of that disappears. FYI, only 2 million more bitcoins will ever be mined. 19 million have already been mined.

El Salvador is working on mining bitcoins using thermal energy from volcanos. They are close to issuing Bitcoin backed bonds referred to as "volcano bonds".

More and more mining is done using excess energy that gets wasted otherwise. Flared gas from drilling, excess hydro power that can't be used, etc.

No doubt it uses a lot of energy though.

Please explain, how is something that doesn’t physically exist get mined? I get mining materials such as metals from the earth, but not a digital entry?

[ithos]

Originally Posted by tophcfa

Please explain, how is something that doesn’t physically exist get mined? I get mining materials such as metals from the earth, but not a digital entry?

They do it for the same reason that bitcoin is graphically depicted as a coin made of gold. To create the illusion that is a rare precious asset that has intrinsic value.

It does have some real world uses but they are not exclusive to bitcoin. That is why altcoins market cap is about the same as Bitcoins.

[jimjamuser]

Originally Posted by Boston-Sean

It's the mining that takes up all the energy. Not the trading. Once all of the bitcoins have been mined (about 120 years from now) most of that disappears. FYI, only 2 million more bitcoins will ever be mined. 19 million have already been mined.

El Salvador is working on mining bitcoins using thermal energy from volcanos. They are close to issuing Bitcoin backed bonds referred to as "volcano bonds".

More and more mining is done using excess energy that gets wasted otherwise. Flared gas from drilling, excess hydro power that can't be used, etc.

No doubt it uses a lot of energy though.

In a world with many energy problems such as having a finite amount of fossil fuel and a growing world population with no moderation in sight - most of Europe facing harsh freezing winter conditions - Russia being in control of Ukraine's largest nuclear plant with fighting all around it. It seems to me like a bad time to be wasting large amounts of energy on the competition to mine more cryptocurrency at the fastest rate for a relatively small number of investors in a product that may not even be a useful product and might just be techno-gambling.

Obviously, I am not a crypto expert and never saw a need to be one. But, the more I read about it the more I think that people should run away from the concept and that governments should regulate cryptocurrency.

[ithos]

Originally Posted by jimjamuser

In a world with many energy problems such as having a finite amount of fossil fuel and a growing world population with no moderation in sight - most of Europe facing harsh freezing winter conditions - Russia being in control of Ukraine's largest nuclear plant with fighting all around it. It seems to me like a bad time to be wasting large amounts of energy on the competition to mine more cryptocurrency at the fastest rate for a relatively small number of investors in a product that may not even be a useful product and might just be techno-gambling.

Obviously, I am not a crypto expert and never saw a need to be one. But, the more I read about it the more I think that people should run away from the concept and that governments should regulate cryptocurrency.

I agree. It is a monumental waste of natural and human resources that has made just as many people poorer than more wealthy. Caveat emptor.

[DylanTodd]

Hi everyone,

Thank you for sharing your thoughts on bitcoin & cryptocurrencies in general and a special thank you to those who posed insightful & thoughtful questions.

Did you know we have a crypto currency club here in the Villages? We have an active member base that welcomes beginners & intermediates. There are 3 ways to get involved:

1. Happy hours! We actually have one tomorrow from 3pm to 5pm on Sunday Dec 4th at Glenview country club. Every two weeks we rotate around to a different country club to catch up and chat in person.

2. We hold virtual meeting every Saturday morning from 8am to 930am covering important crypto news articles for the week.

3. We hold monthly in person meetings at a rec center. Currently Water Lily and transitioning to Ezell in the new year.

If you would like further information reach out to me at dylanwaynetodd@gmail.com

[JP]

Originally Posted by nn0wheremann

You can do whatever you want to do in an unregulated business environment. Some people demand less government, less regulation, and less “red tape.” They got that for which they asked.

This goofball broke the law that was in place and deserves jail time along with his girl friend.

[Boston-Sean]

Originally Posted by PJackpot

But here's the other thing...if you had invested in Berkshire Hathaway instead of Apple, you would probably would have retired a lot earlier.

Just pulled up a chart of BRK-A for the last 20 years. On June 1st 2005 the price was $83,150.

It closed on Friday at $477, 403 which is 5.75X the price in 2005. Are there special dividends that Berkshire issues or some other compensation to shareholders I'm missing that would make that 5.75X return come close to Apples return?

[Caymus]

Originally Posted by JP

This goofball broke the law that was in place and deserves jail time along with his girl friend.

Congress will hold hearings shortly - see if he shows. Reports claim that his "girlfriend" is on her way to Dubai (no extradition treaty).

[ithos]

Originally Posted by Worldseries27

you should catch the episode of billions where all that happened

I looked up and watched a condensed version of the video.

BITCOIN on TV Show BILLIONS: Entire Episode is About an Attorney General Trying to Get Access to a Billionaire'''s Bitcoin Cold Storage...were they successful? Watch : Bitcoin

I am sure they took creative license in the show.

But I am curious how many would be willing to put a substantial part of their savings in such a device? To acquire the crypto and storing the device along with the seed phrase seems to be more risk and hassle than most would want to deal with.

Perhaps someone is out there that could make a compelling argument for cold storage.

[Pilodent]

Imho?

[Pilodent]

Backed by what?

[Aces4]

Originally Posted by Pilodent

Backed by what?

Please link your posts by quoting them so we can follow the train of conversation.