Im a virtual investor now

[jim584672]

If I had 15 billion I would start touching them.

[97guns]

Quote:

Originally Posted by jim584672 If I had 15 billion I would start touching them.

Bitcoin is capped out at 21 million, kinda hard to hold more than what’s available. The creator of bitcoin, Satoshi Nakamoto, is an unknown person

[97guns]

Sorry, maybe $15 billion bucks, I’ll google, I’m curious now

[4legsgood]

Quote:

Originally Posted by Cpadave cyber currencies are making the stock market look very cheap now. Lol

+1

[Car-Guy]

I don't know if Bitcoin or any other crypto currency will "make it" but it's scary. Heck, it's scary enough to even think too much about what government mandated currency is ("fiat" money.) Just hope my dollars are still "perceived" as valuable for another ~20 years.

[Mr._Graybeard]

Quote:

Originally Posted by Car-Guy I don't know if Bitcoin or any other crypto currency will "make it" but it's scary. Heck, it's scary enough to even think too much about what government mandated currency is ("fiat" money.) Just hope my dollars are still "perceived" as valuable for another ~20 years.

I don't think you need to worry about the dollar too much, since it has a $19 trillion annual GDP backing it up. I'm not sure what guarantees the value of bitcoin, other than people's desire to own then. ... like gold. Of course, gold has some industrial and decorative value. I can't imagine wearing a string of bitcoins around my neck.

Speaking of gold, it's at a 5-month low. Perhaps the bitcoin craze is contributing to that.

[Car-Guy]

Quote:

Originally Posted by Mr._Graybeard I don't think you need to worry about the dollar too much, since it has a $19 trillion annual GDP backing it up.

And over 20 trillion in debt. It's to bad they didn't charge all of that on a 1.5% cash back credit card.

[tinlizzy]

Gosh, I remember not too many years ago being laughed at for wanting to buy Lockhead Martin. Times have changed.

[NW-Bound]

If one is afraid of hyperinflation, he should hold hard assets like real estate, land, and stocks. Yes, stocks are ownership of companies that produce "stuff".

Cryptobits can be generated at will, and the reason bitcoins are harder to "mine" with time is due to the built-in pricing structure that progressively reduces the reward for mining them, not because the mining itself gets harder and harder. It's another form of fiat.

So, they have been defining new competitions to bitcoins. A current Web ad proclaims "Free Crypto Masterclass - Expert reveals top cryptocurrencies to overtake Bitcoin". There can be zillions of different "cryptocurrencies". Anyone can define a new blockchain. Who knows what the "exchange rate" between them should be?

PS. When they are all worth zero, we do not care to know the exchange rates between them.

[Mr._Graybeard]

Quote:

Originally Posted by Car-Guy And over 20 trillion in debt. It's to bad they didn't charge all of that on a 1.5% cash back credit card.

$20 trillion is a lot of debt, and it would be nice if the federal government took steps to reduce it, but it's still less than the GDP-national debt after World War II. It's getting close, though.

The overall real value of the US also comes into play when valuing the greenback. The assessed value of the city of New York alone is over $1 trillion -- and that doesn't include the value of public improvements such as highways, harbors and airports.

[Teacher Terry]

97: people always make fun of bitcoin on this forum. My son got us into it 4 years ago. WE mine and trade coins to make $. WE took out our initial investment years ago as it went up. We did not invest more then we could afford to lose. WE often will cash in 1 or 2 when it gets high enough. We cashed out 1 at 10k and will do another at 20k. We have 10 right now but because of mining are continuing to earn more. My son is the brains of the operation and he spends a lot of time staying on top of the trends etc so he knows when to move coins, etc. If he wasn't so knowledge we would not have done it. Some friends of ours lost $ because they held their coins in a place that was not secure. My son could see it coming and warned them to move their coins but they did not and lost them.

[wolf]

Think "Tulips" , and run.

[NW-Bound]

In any bubble, there are always people who make money: the people who got in early.

And then as now, those early speculators are beating their drums for more people to get in. Bubblelicious assets, if they can be called assets, do not produce anything for their holders, unlike real assets. They only make money for holders when they find the next buyer.

I am not going to be their next buyer.

Quote:

Originally Posted by wolf Think "Tulips" , and run.

No, I will not run. It is interesting to stand on the sideline and watch. Actually, I am tempted to open an account and find out how I can short some. Not now, but in a few months.

All this really brings back the déjà vu in late 1999. There were all kinds of warnings about dotcoms, but they kept going up. It was not until mid-March 2000 when it broke. And it broke hard.

A lot of people shorted dot-coms early, and got burned. Sir Templeton patiently waited for the right time. And then, he made for himself some $80 million. With his networth, he could do a lot more shorting but I think he knew the danger of that.

I wish Sir Templeton were still around to hear his wisdom.

[wolf]

Think, "Bernie" Madoff , and run.

[aja8888]

When Amazon starts selling bitcoins, it's time to unload.