Home Forums Hunting & Shooting Hunter's Campfire BITCOIN

You can't get more intangible than cryptocurrencies. You can't get more dependent on fragile technology than cryptocurrencies. I don't like intangible assets. Period.

That's just my opinion. I'm a nobody and you should never take investment advice from a nobody.

That isn't the case and you think that because you lack understanding of the tech underpinning cryptocurrencies.

Normies trade ETNs every day, and bonds, notes, all sorts of unsecured debt securities that are no more tangible than the promise made by their issuer. Whatever record of their ownership of it exists is electronic and exists only at their brokerage. They keep money in banks and those bank convert it to nothing more than a database entry on their servers. They aren't required to, and many don't, keep even a single penny of it in vault cash.

I'm impressed with how well bitcoin was designed. I am a little concerned with the amount of energy required. Our grid is soft, and California can barely keep the lights on.

A while back I bought a NASDAQ stock called Riot Blockchain which I understand deals with crypto currencies. I don't understand crypto currencies at all and usually don't invest in something I don't understand but made an exception this time. For you folks that do understand them, is this a good investment? So far it's been good and tripled in price but I was cautious and only bought 200 shares. It has done way better than the Transocean I bought for about the same price.

I read a little thing my investor guy sent and I forget the year but from like 1902 comparing the price of the USD it is worth .4 cents.... and with all the FREE SHTUF it is getting smaller every day. SO are you going to go to work every day when the dollar has no value. Take a little time and read up on Veneswella. Sorry, I don't know how to spell it. TOOT is right.... I can't articulate very well. Ray... oh, thanks Stick for all the help on this !!

I’m watching as institutions begin to invest. I’m only looking at bitcoin, not lesser crypto’s.

Hastings, I just saw your Riot price chart. Lol

Now I wish I had been bolder and bought more of RIOT and less Transocean.

Peter Schiff is a gold bull I follow. He claims bitcoin is a pump and dump scheme. I’m not so sure.

I read a September article somewhere that said Peter Schiff now says he was right about gold but wrong on Bitcoin. I just wish I understood crypto currencies. I don't like wading into something I don't understand. My genius son has tried to explain it to me but I don't understand how fake money (U.S. dollar included) cannot be over produced and become worthless.

Peter (((Schiff))) is a gold salesman trying to convince goyim to pump his own holdings. He doesn’t need to say he was wrong about bitcoin because chart shows he gloated right at the bottom in March, and it is up about 400% since then. (((Schiff))) gold is up 20%.

I would like to believe he is seething over missing that money getting opportunity, but he was probably just exercising his ethnic disposition to lie, and was actually longing BTC.

I’m tracking stick. Hastings, my understanding is bitcoin is capped at 21 million.

I am trying to understand how crypto currency has value, but it escapes me. It seems at some point trade in crypto could be outlawed just as gold was in 1933. The central banks have a huge interest in not allowing an alternative to their notes as legal tender. If it were legal to require gold or silver in payment no one would accept a Federal Reserve Note. Another thing I am trying to figure out is how Soros attacked the British Pound and reaped a fortune. I have to wonder if his moves to politically destabilize the U.S. is just part of a scheme to wreck the dollar to his benefit. You can bet big money that he is not driven by his desire to help the downtrodden of this country. Anyway I have got a little invested in crypto using the RIOT stock symbol and BLOK.

It has value because there is more demand for it than supply.

The price you see reported is generally the intersection of bids made by people wanting to buy BTC, and asks from people who want to sell it. The media typically picks one of the big exchanges and reports their number, but each exchange tracks that as well dependently as possible while keeping the door closed on arbitrage.

Yes sir, I understand that the fact that someone will pay for it gives something value. That is true of gold and silver. Their price is a good bit over the value of their usefulness and is mainly due to the limited supply and their incorruptibility. I'm guessing the ease of transport and universal acceptance makes for value also. This universal acceptance is what I would guess is the reason the U.S. outlawed a requirement of contracts payable in gold and demanded the acceptance of Federal Reserve Notes. Otherwise the paper money would never have been accepted. Could not the various governments of the world outlaw Bitcoin which you cannot bury in the back forty until the smoke clears?

They could, but for now they are choosing to tax it instead.

You can effectively bury BTC by moving it off an exchange and on to a cold storage wallet. You could literally bury that on the back forty and when the smoke clears plug it in and transact with the BTC on it. As long as the BTC blockchain exists it will remember.

Might want to look at PayPal too as they just started a crypto service with less risk than bitcoin. Ive been buying on lows

I wouldn’t suggest anyone buy crypto through PayPal. If the person lacks trust in all of the exchanges they are better off just staying out of it.

Buying through PayPal is buying a share of crypto that PayPal owns rather than owning it directly. Like buying a share of GLD...you own something that represents a share of physical gold rather than actually owning physical gold. You can’t sell PP crypto to anyone other than PP at the price and terms set by PP. If you buy something with it you have to do so through PP. You can’t do the above “move it to a cold wallet and bury it” thing, because you don’t own the crypto directly.

Crypto people say “not your keys not your crypto”, implying that if you don’t actually hold the private cryptographic key to your wallet you run the risk of losing it if your exchange is hacked or shuts down. PayPal takes it a step further in that you don’t even own your wallet, they do.

Just checked the bitcoin price. Remember on 7/26 I said it might be $20 K by the end of the year ? $20,899. I have been called names and cussed out and all kinds of stuff. I am still here and I have made over $19,000 gain in 3 years.
I agree with stick... stay away from Paypal. BAD DOG kind of stuff. It's for them, not the customer.

Even at this price, Bitcoin is cheap. You don't have to buy a whole Bitcoin. If you have a K to put in, do it in a couple of months. My guy says he can see a drop to maybe $15K as Bitcoin has been on this run for a while. You might wait till after the first of the year and see. IF it drops, Ray is putting in another K as they are looking at $100,000 K by the end of next year............Buy and hold till the next run and if you feel the need take some profit but do not sell out.or it will make you cry where Bitcoin ends up.
I am glad to see this has finally turned into a discussion than a pissing match. THIS, RIGHT NOW, IS A CHANCE TO MAKE A BUTT LOAD OF MONEY FOR CHEAP AND I AM TALKING A BIG BUTT LOAD !! DO NOT WORRYING ABOUT UNDERSTANDING IT. GET SOME MONEY IN AND WATCH IT GROW. You can live where you are or you can move the stake a long way the the right. This is all on YOU !!

Some of the small coins will end up doing better than Bitcoin....ETHERIUM for one.


ENJOY !! Ray

$25,500 this morning. MERRY CHRISTMAS !!