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Campfire Ranger
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Campfire Ranger
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I’m here, Ray and have yet to learn anything from you except for that you invest in things that you don’t know jackscchitt about nor can you begin to explain to those (me) who’ve asked you very simple questions and again, you cannot seem to answer. If asking honest questions to you of that which you post is “ picking on you “ then so be it and take refuge in it. Please accept my apologies.
The degree of my privacy is no business of yours.
What we've learned from history is that we haven't learned from it.
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Joined: Nov 2003
Posts: 28,411
Campfire Ranger
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Campfire Ranger
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Posts: 28,411 |
I’m here, Ray and have yet to learn anything from you except for that you invest in things that you don’t know jackscchitt about nor can you begin to explain to those (me) who’ve asked you very simple questions and again, you cannot seem to answer. If asking honest questions to you of that which you post is “ picking on you “ then so be it and take refuge in it. Please accept my apologies. Now, where is Ray ?
The degree of my privacy is no business of yours.
What we've learned from history is that we haven't learned from it.
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Joined: Dec 2013
Posts: 23,686
Campfire Ranger
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Campfire Ranger
Joined: Dec 2013
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Jackmountain. I have an investor man that makes recommendations on What ones I buy. There is and endless amount of "stuff" that is making all this run and I do NOT know how it works. I would NOT EVER make an investment in this crypto stuff with out some that KNOWS what is going on. And would not put much money in any of them. My "GUY" says $500 per coin unless you have a lot of money and then only 1K if you do. I have been with this guy since 2017 and have not lost a penny yet. Ray, no offense, but I hope your trust in your guy is well founded...... No way I'd invest $10,000 in one Bitcoin and have no idea what it is, how it's made, how to spend it etc.. Making money is never a bad thing, and if you're ok with the risk and volatility, it sounds like it's working good for you. I would love to understand how crypto works though. I think it could be a great tool to retain some semblance of freedom in the near future.
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Joined: Nov 2004
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Campfire Ranger
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Campfire Ranger
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Sounds like the old worn out Amway pitch to me.
"I have sworn upon the altar of God, eternal hostility against every form of tyranny over the mind of man."
Thomas Jefferson
GeoW, The "Unwoke" ...Let's go Brandon!
"A Well Regulated Militia" Life Member
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Joined: Dec 2011
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All the guys that bought on Dec 15 2017 must be celebrating these recent developments.
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Joined: Aug 2019
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Campfire Regular
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Any form of Crypto Currency is the first non existent thing, that has no backing, to ever be assigned a value. Any traded funds or currency eventually lead to a backing of some hard good, but not crypto currency.
Volatile? There is nothing that can be traded or bought that isnt more volatile.
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Joined: Nov 2011
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Campfire Regular
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Campfire Regular
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The paper money you work for every day. Come on CHRISTMAS. Ray
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Joined: Feb 2010
Posts: 16,076
Campfire Ranger
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Campfire Ranger
Joined: Feb 2010
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I don't have to boast. I posted that bitcoin was up and away it went. Everyone here can learn about all this the same way am. Seems like some of us have a lot of time to watch tv and play on the computer at the same time. I do not have that benefit in life. There is no "easy" way to understand Crypto. Too big and too much info for me. IF I was to help teach it would be to direct you to my crypto investment guy. I never said I was the great wis at this. All I know right now is this guy is pounding the table hard on the cryptos. So your handing a guy your money and don’t really know what he’s doing with it. A sound financial plan indeed.
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Joined: Feb 2010
Posts: 16,076
Campfire Ranger
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Campfire Ranger
Joined: Feb 2010
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Jackmountain. I have an investor man that makes recommendations on What ones I buy. There is and endless amount of "stuff" that is making all this run and I do NOT know how it works. I would NOT EVER make an investment in this crypto stuff with out some that KNOWS what is going on. And would not put much money in any of them. My "GUY" says $500 per coin unless you have a lot of money and then only 1K if you do. I have been with this guy since 2017 and have not lost a penny yet. Ray, no offense, but I hope your trust in your guy is well founded...... No way I'd invest $10,000 in one Bitcoin and have no idea what it is, how it's made, how to spend it etc.. Making money is never a bad thing, and if you're ok with the risk and volatility, it sounds like it's working good for you. I would love to understand how crypto works though. I think it could be a great tool to retain some semblance of freedom in the near future. Me too! All I can find are folks who declare me too dumb to begin to understand it. Works for me...I’m out. I also didn’t buy Enron, ostriches, or whatever Bernie Madoff was hawking.
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Joined: Nov 2003
Posts: 28,411
Campfire Ranger
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Campfire Ranger
Joined: Nov 2003
Posts: 28,411 |
Any form of Crypto Currency is the first non existent thing, that has no backing, to ever be assigned a value. Any traded funds or currency eventually lead to a backing of some hard good, but not crypto currency.
Volatile? There is nothing that can be traded or bought that isnt more volatile. Well,,not understanding the full spectrum of Bitcoin (me, for one) and without any form of visible backing (as you mentioned) it’s hard to see the wizard behind the curtain that assigns the value associated with it. I’m sure there’s an explanation but Ray who supposedly owns it cannot articulate it in any form or fashion. Strange.
The degree of my privacy is no business of yours.
What we've learned from history is that we haven't learned from it.
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Posts: 11,496
Campfire Outfitter
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It's easy to understand.
Bitcoin was invented about 400 years ago in Holland except they used tulip bulbs instead of some mythical nonexistent stuff that some kid thought up in his parents' basement. It will crash. The only question is when.
The only differences are (a) you can't grow pretty flowers and (b) Bitcoin uses the blockchain, which makes it very difficult to hack.
Nations may, in the future use cryptocurrencies (based on the blockchain) but Bitcoin will not be one of them. Nations will not tolereate currencies they can't control. It is also too volatile to use as a store of value. Besides, Bitcoin is limited to a certain number of Bitcoins. Can you imagine how hard that would make it for the US government to print $3 trillion? It's imossible.
I don't think a legitimate financial advisor would recommend that clients invest more than a small amount of their assets in Bitcoin, for speculation only. Also, I don't think a legitimate advisor would want a client to invest in something the client did not understand, or was too indifferent to look it up on Wikipedia.
Don't blame me. I voted for Trump.
Democrats would burn this country to the ground, if they could rule over the ashes.
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Joined: Nov 2003
Posts: 28,411
Campfire Ranger
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Campfire Ranger
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The paper money you work for every day. Come on CHRISTMAS. Ray So you’re convinced positively that the value or even more value will be there come Christmas time,,,yet you don’t understand the full nature of it nor can you answer - any - questions regarding it. Are you going to trade your bitcoin holding(s) for a new ride or will you sell your bitcoin and use the proceeds from the sale to do the purchase? How will this work, Ray ?
The degree of my privacy is no business of yours.
What we've learned from history is that we haven't learned from it.
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Joined: Nov 2003
Posts: 28,411
Campfire Ranger
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Campfire Ranger
Joined: Nov 2003
Posts: 28,411 |
It's easy to understand.
Bitcoin was invented about 400 years ago in Holland except they used tulip bulbs instead of some mythical nonexistent stuff that some kid thought up in his parents' basement. It will crash. The only question is when.
The only differences are (a) you can't grow pretty flowers and (b) Bitcoin uses the blockchain, which makes it very difficult to hack.
Nations may, in the future use cryptocurrencies (based on the blockchain) but Bitcoin will not be one of them. Nations will not tolereate currencies they can't control. It is also too volatile to use as a store of value. Besides, Bitcoin is limited to a certain number of Bitcoins. Can you imagine how hard that would make it for the US government to print $3 trillion? It's imossible.
I don't think a legitimate financial advisor would recommend that clients invest more than a small amount of their assets in Bitcoin, for speculation only. Also, I don't think a legitimate advisor would want a client to invest in something the client did not understand, or was too indifferent to look it up on Wikipedia. “Legitimate “ is the operative word to all of this.
The degree of my privacy is no business of yours.
What we've learned from history is that we haven't learned from it.
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Joined: Aug 2017
Posts: 9,049
Campfire Outfitter
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Campfire Outfitter
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I think those who were early Founders of bitcoin specifically said that it shouldn't be viewed as an investment vehicle.
The value in it is only the demand that is created, which right now is significant. That of course changes.
Some have made fortunes. Of course that can be said for many things.
Agree that block chain will be our future.
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Joined: Nov 2011
Posts: 1,573
Campfire Regular
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OP
Campfire Regular
Joined: Nov 2011
Posts: 1,573 |
OLD TOOT. Good find on the tulip thing. IF the dealer takes bitcoin I will just pay for it that way. If not, I can sell some of a coin back to cash direct to my checking account.. I have lived thru the hard times dealing with the hoops we have to to deal/trade crypto and now it has evolved enough to be as easy as buying it with your smart phone ..... soon. Ray
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Joined: Nov 2003
Posts: 28,411
Campfire Ranger
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Campfire Ranger
Joined: Nov 2003
Posts: 28,411 |
OLD TOOT. Good find on the tulip thing. IF the dealer takes bitcoin I will just pay for it that way. If not, I can sell some of a coin back to cash direct to my checking account.. I have lived thru the hard times dealing with the hoops we have to to deal/trade crypto and now it has evolved enough to be as easy as buying it with your smart phone ..... soon. Ray It was Indy that paralleled the tulip mania fwiw. I sincerely hope that things work out for you. As you rightly pointed out, few here have any problems with making money on investments. Good luck going forward on this, Ray.
The degree of my privacy is no business of yours.
What we've learned from history is that we haven't learned from it.
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Joined: Oct 2009
Posts: 119
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If you got in when it was valued at $0.0008 (not a typo), then got out at, or near the peak, $20k, you hit the lotto.
Long ago, it was drummed in to my head that a currency Must serve as a unit of account, a unit of exchange, and a store of value.
So regarding bitcoin, is it a unit of account? Not really, I don’t know if anything is accounted for in bitcoin, but bitcoin is account for in dollars. Is it a unit of exchange? I guess, kind of, I hear anecdotes of people buying stuff with it, but most people holding bitcoin keep on holding it hoping it’ll go up. Lastly, is it a store of value? I dunno, it’s pretty volatile.
Would I buy it? Eh, if someday it falls in to a range that I don’t think is over valued, I might throw a few bucks that way for kicks.
Last edited by El_CuCuy; 07/27/20.
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Joined: Nov 2011
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Campfire Regular
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Posts: 1,573 |
It was scary dropping the first cash on the bitcoin. I got in at a good time and it went to $20 K and then started dropping. It went down like $5K one week and a guy was laughing at as I had lost $5K. I told him I was still UP $15K.
EL.... You saying .0008. My guy got me into a coin like that one and a couple of weeks announced that one of our coins had gone up 1000%. Some investors asked where and my guy said it was the .000 one. 1000% doesn't move the needle very far.
YUP very volatile. But it has been pronounced dead a few hundred times now and every time it comes back even higher.. I think it will keep that up for a while yet, but there should be a very big jump coming. Ya, if I would have sold it @ $20 and then bought back in at $3K maybe I could live in Florida too, ha ! The crypto stuff got me retired 2 years early. Ray
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Joined: Feb 2003
Posts: 10,361
Campfire Outfitter
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Campfire Outfitter
Joined: Feb 2003
Posts: 10,361 |
![[Linked Image]](https://www.24hourcampfire.com/ubbthreads/gallery/80/full/134577.jpg) I know a young man who spent $30k building an R2D2 robot with my gunsmithing tools. He is a digital guy with lots of other digital guys reporting to him. I did not pay attention to his block chain talk, but I did listen to the low carbs talk. Then all of a sudden he buys his own shop tools and a house to put them in. He had been investing in Bitcoin early.
There is nothing noble in being superior to your fellow man; true nobility is being superior to your former self. -Ernest Hemingway
The man who makes no mistakes does not usually make anything.-- Edward John Phelps
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Joined: Nov 2004
Posts: 17,253
Campfire Ranger
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Campfire Ranger
Joined: Nov 2004
Posts: 17,253 |
Can I go to McDonalds in the morning and buy an Egg McMuffin with a bit coin?
g
"I have sworn upon the altar of God, eternal hostility against every form of tyranny over the mind of man."
Thomas Jefferson
GeoW, The "Unwoke" ...Let's go Brandon!
"A Well Regulated Militia" Life Member
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