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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 |
More likely some IRS agent getting blowed by a hooker. Old news.... nice try.
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Joined: Nov 2003
Posts: 28,411
Campfire Ranger
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Campfire Ranger
Joined: Nov 2003
Posts: 28,411 |
BOB H... About a year ago Japan recognized Bitcoin as legal tender and could be used to settle any national debt.
This crypto isn't for everybody for sure. Flat scary to be honest. When I first got into it in march of 2017 there were about 400 different crypto coins. ANYONE can set one up. I got on a sight that listed all the coins out there and one was named tittsandass coin. REALLY ! Can you get hacked on this. YUP !! Heck, they hacked the pentagon. Last I heard{which has been at least a year ago} there were over 2000 crypto and my guy says 99% of them are pure POOP !!
TOOT was worried there wouldn't be an ATM at the McD. There might or might not be one there but when this all gets said and done you will have an app on your phone or have a debit card that will take care of your purchase of the double fat burger and fries. Ray When all gets said and done,,That’s yet to be seen, Ray. And The Tootster ain’t worried about anything connected with bitcoin. I don’t have to be.
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: Feb 2010
Posts: 16,058
Campfire Ranger
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Campfire Ranger
Joined: Feb 2010
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More likely some IRS agent getting blowed by a hooker. Old news.... nice try. One more question. What does “your guy” receive in the way of commissions for talking you into buying bitcoin?
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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 |
Nothing. I pay him a yearly fee, life time now, and he makes recommendations and I buy what I want when I want as much as I want. I have bought 20 cryptos and am in 5 pre IPO investments All for the yearly fee. Not cheap but he is making some good money. Ray
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Joined: Feb 2010
Posts: 16,058
Campfire Ranger
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Campfire Ranger
Joined: Feb 2010
Posts: 16,058 |
Nothing. I pay him a yearly fee, life time now, and he makes recommendations and I buy what I want when I want as much as I want. I have bought 20 cryptos and am in 5 pre IPO investments All for the yearly fee. Not cheap but he is making some good money. Ray Cool. Thanks for responding.
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Joined: Nov 2004
Posts: 9,952
Campfire Outfitter
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Campfire Outfitter
Joined: Nov 2004
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My friend tried to get me to buy bitcoin when it was about $300. My wife said go ahead and buy about $10,000. I hesitated because I was afraid I'd lose the code and I didn't understand you could print them off. My Friend put everything he had in it. He worked at Intel at the time and even started getting his paycheck in bitcoin. He doesn't work at all now, just travels and has fun. Last time I asked bitcoin was around $5,000 and he had $36 million worth of it. Hindsight....
At least my silver i bought in 2008 and 2009 for around $12 is starting to be worth something. My friend still says bitcoin is a buy at $10,000. He says the day will come i wished I had a few of them.
Bb
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Joined: Nov 2003
Posts: 28,411
Campfire Ranger
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Campfire Ranger
Joined: Nov 2003
Posts: 28,411 |
you can cash it into money, then use the money Yes, in the Coinbase card example I posted the crypto is converted to fiat because that is what the seller’s bank requires. This is like using a debit card connected to your USD savings account to purchase something in Euro, your bank takes care of the conversion. But BTC can also be used to make purchases directly. Anyone at all can choose to accept it in lieu of any other form of payment and they can leave it on BTC or convert it to whatever else, fiat included. People do that all the time every day. The twitter scammers converted BTC to XMR to wash it, then likely into Rubles or whatever they use where they are. The “not backed by anything” is a tiresome argument. Your USD are backed by faith and credit, literally. If you buy a stock it is backed by nothing more than a market assigned value which is exactly what BTC is backed by. Do you own any bitcoin, Stick ?
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 2011
Posts: 1,573
Campfire Regular
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Campfire Regular
Joined: Nov 2011
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One thing. YOU ARE RESPONSIBLE FOR PROTECTION OF YOUR CRYPTO. COPY THE CODES TO YOUR ACCOUNTS AND VAULTS TO 3 OR 4 DIFFERENT PLACES. I keep one copy in my lock box at the local bank. I use thumb drives and keep them in different places. Story goes a guy and his wife got in to a fight. She through him out and through the computer in the garbage. The local dump would NOT let him to look for his computer.... worth more than $1 million. Ray
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Joined: Oct 2010
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Campfire Outfitter
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Campfire Outfitter
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Do you own any bitcoin, Stick ? Yes. In the 2018 bull run I sold most of what I'd bought. I hold a bit of it, mostly for transactions rather than an expectation the value will increase.
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Joined: Nov 2003
Posts: 28,411
Campfire Ranger
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Campfire Ranger
Joined: Nov 2003
Posts: 28,411 |
Do you own any bitcoin, Stick ? Yes. In the 2018 bull run I sold most of what I'd bought. I hold a bit of it, mostly for transactions rather than an expectation the value will increase. Sounds like you did well and if what Ray is expecting actually happens, that value appreciation might well be there. It also sounds like you did your homework and fully understand the whys and the whats concerning Bitcoin.
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 2010
Posts: 7,638
Campfire Outfitter
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Campfire Outfitter
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Sounds like you did well and if what Ray is expecting actually happens, that value appreciation might well be there. I did ok, but largely by accident. Crypto technology is very interesting and has a lot of upsides, but I never expected the value to go up like it did nor do I know why it did. I tend to think anyone predicting crypto prices is just guessing. At least the people way out on the edges are, and a guy forecasting $1MM per BTC is out there. But they balance out people on the other end of the spectrum.
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Joined: Jan 2012
Posts: 26,415
Campfire Ranger
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Campfire Ranger
Joined: Jan 2012
Posts: 26,415 |
One thing. YOU ARE RESPONSIBLE FOR PROTECTION OF YOUR CRYPTO. COPY THE CODES TO YOUR ACCOUNTS AND VAULTS TO 3 OR 4 DIFFERENT PLACES. I keep one copy in my lock box at the local bank. I use thumb drives and keep them in different places. Story goes a guy and his wife got in to a fight. She through him out and through the computer in the garbage. The local dump would NOT let him to look for his computer.... worth more than $1 million. Ray What happens to BC's in this instance, just sit in perpetuity?
FJB & FJT
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Joined: Oct 2010
Posts: 7,638
Campfire Outfitter
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Campfire Outfitter
Joined: Oct 2010
Posts: 7,638 |
What happens to BC's in this instance, just sit in perpetuity? Possibly. Ray is probably referring to seed words in his post about CODES. A crypto wallet can be recovered by using those seed words to regenerate the private key that was used to encrypt it, so the coins would be available again. If the guy didn’t have a copy of his seed words the coins in the wallet are gone forever. There were several very large BTC wallets that didn’t move anything in 2018 when the price was close to $20k. Likely they are lost, because who wouldn’t sell a bit if they were sitting on $100MM?
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Joined: Jun 2014
Posts: 127
Campfire Member
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Campfire Member
Joined: Jun 2014
Posts: 127 |
One thing about Bit Coin I never understood. Why is it owners feel its their life's mission to tell others about what a great thing it is and how much they made from it?
Does this .405 Winchester make my butt look big?
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Joined: Oct 2010
Posts: 7,638
Campfire Outfitter
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Campfire Outfitter
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Why is it owners feel its their life's mission to tell others about what a great thing it is and how much they made from it? You might see less of that if you read fewer threads titled “BITCOIN”. You posses the agency to change your life for the better.
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Joined: Aug 2009
Posts: 3,025
Campfire Tracker
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Campfire Tracker
Joined: Aug 2009
Posts: 3,025 |
Why is it owners feel its their life's mission to tell others about what a great thing it is and how much they made from it? You might see less of that if you read fewer threads titled “BITCOIN”. You posses the agency to change your life for the better. a person could use that advice in reading different posters......dont want to hear it...dont read it.....just to hard for most people, they would rather bitch......bob
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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 |
The crypto industry is about to explode with new growth and financial products world wide. Rumer is one of the major stock exchanges is about to make a platform for buying and selling cryptos right on the stock exchange. Then anybody with a trade account like TD Ameritrade could buy bitcoin right there and not have to jump thru all the hoops we have had to in the past. It would be as secure as your stocks. When this happens there will be like 30 million people that now have the option to buy cryptos at the touch of a button. The next 2 years or so are going to see amazing growth. The reason I like to tell people about the cryptos is the opportunity to help other people get ahead in life. If I had not got into the cryptos I would have had to wait 2 to 3 years to retire. IF this goes as planned, the amount of family and friends I can help will be huge. Right here in front of you is the biggest opportunity to help your self for not a lot of money you may ever have. THIS IS ALL ON YOU ! THIS ALL IS GOING TO HAPPEN. Bitcoin has gone up about $2K in the last 2 or 3 months. Would $2K help your finances out. It did mine. I do not post this to brag. I am trying to get you into a better place in life. Some want to fight about this and bad mouth it and will never do it no matter what. Their loss. This is as the guy that posted earlier. His neighbor bought in and now is rich and spends his time traveling. The other guy didn't buy in and works for a living. ON the lost coins. YUP, sounds like they are gone for good. ALWAYS WEAR PROTECTION !! RAY
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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 |
On 7/27/ 2020, I posted BITCOIN had just went over $10K. In less than 1 month it is now hitting $12,200. I love being scammed and ripped off for NOT knowing what I was investing in. Ray
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Joined: Jan 2006
Posts: 5,616
Campfire Tracker
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Campfire Tracker
Joined: Jan 2006
Posts: 5,616 |
On 7/27/ 2020, I posted BITCOIN had just went over $10K. In less than 1 month it is now hitting $12,200. I love being scammed and ripped off for NOT knowing what I was investing in. Ray We all enjoy making money. At what point would you sell? Or do you just collect? I noticed you posted you bought at $1144. So if you passed up selling when it was $20,000 then you could of netted almost another $8000. Just trying to understand your reasoning of your posts. Are you happy you still have it instead of selling when it hit $20000?
My biggest fear is when I die my wife will sell my guns for what I told her they cost.
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Joined: Jun 2002
Posts: 131,433
Campfire Sage
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Campfire Sage
Joined: Jun 2002
Posts: 131,433 |
Bitcoin is like gambling. It literally has value because people buy it, and for no other reason. Purely enthusiasm based. What can you actually do with a bitcoin?
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