Your Universal Remote Control Center
RemoteCentral.com
Custom Installers' Lounge Forum - View Post
Previous section Next section Previous page Next page Up level
Up level
The following page was printed from RemoteCentral.com:

Login:
Pass:
 
 

Page 3 of 3
Topic:
OT - anyone into Bitcoin?
This thread has 44 replies. Displaying posts 31 through 45.
Post 31 made on Wednesday May 19, 2021 at 22:32
buzz
Super Member
Joined:
Posts:
May 2003
3,918
The current Crypto vs fiat valuation swings are a problem. This is no different from converting one country's currency to another country's currency -- except the Crypto valuation is extremely volatle.
Post 32 made on Thursday May 20, 2021 at 01:04
Brad Humphrey
Select Member
Joined:
Posts:
February 2004
2,228
On May 19, 2021 at 21:27, oprahthehutt. said...
You seem to have a uninformed illogical view towards Bitcoin. If you do not wish to use it then dont. But there is not a relevant argument against Bitcoin that I have yet found. Its one of the most beautiful machines ever made.

LMAO!
OK man, you're right. I just can't see what you do with those rose colored glasses. My bad. I'll be sure to buy a pair of those at the store that accepts bitcoin... oh wait...
Post 33 made on Thursday May 20, 2021 at 12:46
Redbiker98
Regular Member
Joined:
Posts:
November 2020
109
Bitcoin is one of the biggest regrets of my life.

When it first came out, a friend was telling me how this is the future and that I should invest. I was about to buy 100 coins, had my finger hovering over the enter key. Noooo, I didn't do it, I was saving up for something or other, rather than "wasting" the money on an unknown quantity.

Now my old friend travels first class on his many trips, has a Lambo and McMansion all paid off. I'm still working my ass off and for the life of me can't even remember what I bought with the money I didn't spend on Bitcoin.
Post 34 made on Thursday May 20, 2021 at 15:31
rmalbers
Founding Member
Joined:
Posts:
October 2001
761
On May 20, 2021 at 12:46, Redbiker98 said...
Bitcoin is one of the biggest regrets of my life.

When it first came out, a friend was telling me how this is the future and that I should invest. I was about to buy 100 coins, had my finger hovering over the enter key. Noooo, I didn't do it, I was saving up for something or other, rather than "wasting" the money on an unknown quantity.

Now my old friend travels first class on his many trips, has a Lambo and McMansion all paid off. I'm still working my ass off and for the life of me can't even remember what I bought with the money I didn't spend on Bitcoin.

Wow, I'd look at it more like he won a lottery, maybe that would make you feel better!
Post 35 made on Thursday May 20, 2021 at 17:49
buzz
Super Member
Joined:
Posts:
May 2003
3,918
There is always the lure of 'smart', early buys of seemingly good ideas. Those who bought into Apple, Microsoft, Intel, etc. regularly beat their chests. Then there is the other group who bought into companies such as Theranos.
Post 36 made on Saturday May 22, 2021 at 10:44
Anthony
Ultimate Member
Joined:
Posts:
May 2001
28,614
On May 19, 2021 at 16:02, Short Stop said...
Cryptocurrency will come and go but blockchain technology and use will continue to grow. There's too many possible uses for it and we have only scratched the surface at this point.

agree, the issue is that you can't invest in "block chain" you invest in a particular Cryptocurrency.
...
Post 37 made on Saturday May 22, 2021 at 10:47
Anthony
Ultimate Member
Joined:
Posts:
May 2001
28,614
On May 20, 2021 at 12:46, Redbiker98 said...
Bitcoin is one of the biggest regrets of my life.

When it first came out, a friend was telling me how this is the future and that I should invest. I was about to buy 100 coins, had my finger hovering over the enter key. Noooo, I didn't do it, I was saving up for something or other, rather than "wasting" the money on an unknown quantity.

Now my old friend travels first class on his many trips, has a Lambo and McMansion all paid off. I'm still working my ass off and for the life of me can't even remember what I bought with the money I didn't spend on Bitcoin.

like every Ponze scam out there. If you are early on and get out you make lots off money (and if that money was maid off of Bitcoin that means your friend took it out to buy his Lambo....) , If you invest when it comes crashing then you lose out.
...
Post 38 made on Saturday May 22, 2021 at 16:54
Short Stop
Long Time Member
Joined:
Posts:
November 2011
70
On May 22, 2021 at 10:44, Anthony said...
agree, the issue is that you can't invest in "block chain" you invest in a particular Cryptocurrency.

That's true. There are public companies you can invest in that are using the blockchain for various things. I'm paying attention to them now too. It's very interesting to watch unfold.
Post 39 made on Wednesday May 26, 2021 at 11:57
oprahthehutt.
Active Member
Joined:
Posts:
December 2011
603
On May 20, 2021 at 01:04, Brad Humphrey said...
LMAO!
OK man, you're right. I just can't see what you do with those rose colored glasses. My bad. I'll be sure to buy a pair of those at the store that accepts bitcoin... oh wait...

You still didn't produce an argument against.

As for using Bitcoin as currency I have no desire as the tax code is prohibitive.

I believe International trade will drift away from USD and towards BTC. Why would a country want to sell their natural resources for USD that is simply printed out of thin air? On top of that the US is ~30 Trillion in debt. Every dollar in existence is simply a debt note backed by the "Full Faith and Credit" of the United States.

In other words worthless, which is why people trade it for real estate and other hard assets as fast as they can which in turn has created massive asset bubbles.

If USD had value they wouldn't loan it out for next to nothing.

Good luck to you. The crashes will come faster and deeper as we go forward.
Post 40 made on Wednesday May 26, 2021 at 19:33
rmalbers
Founding Member
Joined:
Posts:
October 2001
761
The argument against bitcoin is that it has no intrinsic value. It's only worth what the next person will pay for it.
The reason the USD has value is because you can buy stuff with it, some currencies, you can't buy as much, that's why everyone in the world wants USD's.
The reason that loan rates are so low is that they are currently trying to stimulate the economy.
Post 41 made on Thursday September 2, 2021 at 19:32
oprahthehutt.
Active Member
Joined:
Posts:
December 2011
603
Back around 50k

Last edited by oprahthehutt. on September 4, 2021 23:41.
Post 42 made on Thursday September 2, 2021 at 19:47
Mac Burks (39)
Elite Member
Joined:
Posts:
May 2007
17,481
On September 2, 2021 at 19:32, oprahthehutt. said...
Back around 50k. Its getting ready to go parabolic again.

Vast Bank 5 Branches in around Tulsa OK now offers Bitcoin services. That is just the beginning. Many other banks are getting ready to unroll their Bitcoin products.

Brandon, are you in Tulsa? I moved here last spring.
Avid Stamp Collector - I really love 39 Cent Stamps
Post 43 made on Monday September 13, 2021 at 02:21
simoneales
Select Member
Joined:
Posts:
May 2005
1,782
I can only speak for myself and back in June i bought 5.5k in crypto to have a bit of a play and see if i could grow it. Within 6 weeks it was worth 1.8k and still dropping.
At that point i sold it all and cut my losses. If i had held onto a couple of the coins i invested in i would have trippled my money recently, but if i hald onto others it would now be $500. It genuinely is a gamble and a bullrush market.
I guarantee I'll tell you the truth and I guarantee I'll tell you what you need to know but I can't guarantee that I'll be telling you anything you want to hear.
Post 44 made on Monday September 13, 2021 at 10:18
PHSJason
Advanced Member
Joined:
Posts:
December 2002
994
Considering that this is a forum full of tech nerds, I find it odd that more of us arenít into the mining side. Seems to be right up most our alleys.
Post 45 made on Monday September 13, 2021 at 12:00
rmalbers
Founding Member
Joined:
Posts:
October 2001
761
On September 13, 2021 at 10:18, PHSJason said...
Considering that this is a forum full of tech nerds, I find it odd that more of us arenít into the mining side. Seems to be right up most our alleys.

You have to live somewhere where you can get power for almost free to make money. That means some country where bribes work wonders and there isn't much risk of getting caught or a country where you are the owner of a power plant.
Page 3 of 3


Jump to


Protected Feature Before you can reply to a message...
You must first register for a Remote Central user account - it's fast and free! Or, if you already have an account, please login now.

Please read the following: Unsolicited commercial advertisements are absolutely not permitted on this forum. Other private buy & sell messages should be posted to our Marketplace. For information on how to advertise your service or product click here. Remote Central reserves the right to remove or modify any post that is deemed inappropriate.

Hosting Services by ipHouse