[Cuervo]

Originally Posted by Rainger99

Isn’t that true for everything?
Gold, Amazon stock, Villages houses - new and pre-owned!

No there are actually assets supporting these investments, if the price of gold, Villages home might take a downturn you still have tangible assets. If Amazon goes bankrupt lawsuits will follow and even though you will not get full value of your investment the odds, are you will get something. What do you get if bitcoin goes bust?

[Aces4]

Originally Posted by Cuervo

No there are actually assets supporting these investments, if the price of gold, Villages home might take a downturn you still have tangible assets. If Amazon goes bankrupt lawsuits will follow and even though you will not get full value of your investment the odds, are you will get something. What do you get if bitcoin goes bust?

The same thing you'll get if the dollar goes bust. Remember the stories of the Great Depression and we're not all that far from it with the debt that has been accrued over the years.

[Lanieb]

Originally Posted by Malsua

There's a few things that have happened to bitcoin since 2011.

The first being that bitcoin had numerous forks since then. Each one entitling the owner to equivalent in Bitcoin Cash, Bitcoin Gold, Bitcoin Diamond, Bitcoin SV. That will add some life changing amounts of money right there, but the granddaddy of BTC would be north of 2 billion.

Bitcoin will continue to rise. If you buy even a few hundred dollars worth now and hand it to your children or relatives, by the time they retire, it will likely have appreciated significantly.

It's now owned by all the major players in finance. It's not going away.

You don't have to buy whole coins, you buy fractional pieces called Satoshis. Right now you can buy 913 Satoshis for one US dollar.

In 10 years, it'll probably be about 91 Satoshis for 1 dollar.


I'm one of the founding members of the Crypto Currency Club in The Villages. We meet every Saturday morning virtually except for the first Saturday of the month because there is a club meeting at Ezell on that prior Thursday.

I would like to join your next meeting please, how do I do that?
Thanks,
Lanie

[Aces4]

Originally Posted by jimbomaybe

Perhaps his distain for bitcoin has something to do with its "value" , it has no value other than what is driven by the greed/fear factor, produces nothing. My credentials ,, I took a very small position in TESLA, not much more than an IPO, I was up 125%, thinking to add substantially, but then thinking you never go broke taking a profit, sold out, that's why my advice is free.

Yup, Bitcoin has the same value as the dollar bill, nil. And don't tell me the government stands behind the dollar because that's worthless when the coffers are empty, huge debt and financial system is running on fumes.

[Larryandlinda]

You wake up, It’s April 1976….
No mobile phones. internet on the horizon….
What could you do?
Apple cofounder Ronald Wayne sold his 10% stake for $800 in 1976—today it’d be worth up to $300 billion

[jimbomaybe]

Originally Posted by Aces4

Yup, Bitcoin has the same value as the dollar bill, nil. And don't tell me the government stands behind the dollar because that's worthless when the coffers are empty, huge debt and financial system is running on fumes.

The government stands behind the dollar, the credibility of both are dependent on the strength of the US economy is it not? certainly the expanding debt hinders both the dollar and the government's ability to deal with economy

[Bwanajim]

My CPA's son told me he bought some at $300 and told me to buy some at $3000 a coin. I told him he was out of his mind. Oh well. I was just never comfortable with owning something that is not tangible. How do you redeem it for cash if you want

[Rainger99]

Originally Posted by Bwanajim

My CPA's son told me he bought some at $300 and told me to buy some at $3000 a coin. I told him he was out of his mind. Oh well. I was just never comfortable with owning something that is not tangible. How do you redeem it for cash if you want

Hopefully someone from the Crypto Currency Club can answer that.

[Aces4]

Originally Posted by jimbomaybe

The government stands behind the dollar, the credibility of both are dependent on the strength of the US economy is it not? certainly the expanding debt hinders both the dollar and the government's ability to deal with economy

So they just print more more worthless dollars. The belief in the dollar is all in our heads. Scary, isn't it?

[MorTech]

Word!

"I should have bought much more Bitcoin" is every thinking man's slogan
Made huge money on AMZN and Bitcoin.
Still huge money to be made on Bitcoin and Bitcoin treasury companies.

"The government stands behind the dollar" - And prints them worth less as it steals everything from everyone over time.
"2% inflation target" means they steal half of everything from you every 35 years.

[jimbomaybe]

Originally Posted by Aces4

So they just print more more worthless dollars. The belief in the dollar is all in our heads. Scary, isn't it?

Economic treadmill with no way off

[Nell57]

Originally Posted by Rainger99

Hopefully someone from the Crypto Currency Club can answer that.

The same way you would change your Amazon stock into cash.
I purchase it on an exchange, Coinbase. If I want to cash out it is just a bank transaction.
The reason people gravitate to Bitcoin as an investment is that there will only be a finite number of coins. Not all are in circulation yet.
The federal government just prints money irresponsibly and our children will have to somehow pay the price. Our dollar continues to slide in value.
The Trump family, Musk and almost all financial institutions are crypto investors. Trump instituted a crypto czar and there is a Bitcoin Reserve Bill in the works.
I don’t put all my money there, just a percentage. It’s a hedge.
Do what is comfortable for you. I’ve been a member of the crypto club in the Villages for 5 years.
It’s a fun group of intelligent people. A nice place to be.
Check it out on Facebook.