Apparently very few people actually buy Bitcoin, I know there are various pros and cons, I’ve watched several videos on it but if anyone here has bought Bitcoin I could use some information. I know it’s quite different from the standard investment, but they never break it down enough for me. I’d like your actual experience, if you want to take this off line that would be fine also.
Bitcoin
- Thread starter Bear Paw Jack
- Start date
jack black
Hunter
Buy the ETF not a coin
OP
That’s the part I understand.
JackBull
Hunter
I listen to a computer help radio show weekly. These guys are geeks and believe Bitcoin et al is a scam. Can anyone explain how an imaginary "coin" has any real value?
Back in its early days, I listened to two financial law enforcement types (don't remember actual qualifications now but remember one was DEA targeting cartells). At the time, they didn't have anything good to say about crypto.
I know some people who have reportedly made a lot of money in crypto.
I also know someone who bought crypto early on, had the tokens or whatever on her phone, had her phone crash, and was told there was no way to recover her crypto. Would probably be worth six or seven digits but she's given up attempting to recover.
Also, I really don't understand crypto mining. Do any of you?
I know some people who have reportedly made a lot of money in crypto.
I also know someone who bought crypto early on, had the tokens or whatever on her phone, had her phone crash, and was told there was no way to recover her crypto. Would probably be worth six or seven digits but she's given up attempting to recover.
Also, I really don't understand crypto mining. Do any of you?
OP
That’s a big part of what I’m concerned about, I have trouble keeping up with my passwords.
I just finished reading all about bitcoin and now have even less understanding of it the I had before I started reading. Think I will stick with greenbacks and rattly change.
Yaworski
Hawkeye
I had a young coworker who made a bunch of money in crypto but that was a while ago.
I can see the whole thing collapsing and leaving everyone high and dry. I have my money in Frozen Concentrated Orange Juice.
I can see the whole thing collapsing and leaving everyone high and dry. I have my money in Frozen Concentrated Orange Juice.
All I know is it cost about a buck a coin when it first came out in 09 and today it closed at over 80k per.
Doesn’t get much better than that. I’m priced out and wouldn’t roll the dice at this point anyway.
Doesn’t get much better than that. I’m priced out and wouldn’t roll the dice at this point anyway.
OP
I thought that a few years ago, I was wrong then too.
OP
I also figured out you don’t invest without facts, and you don’t avoid investing because of fear.
I believe bitcoin is still a good investment, you don’t have to invest in a whole Bitcoin, you can invest in 1/3, 1/4, 1/2, what you are comfortable with. My concern for myself is I’m not computer literate as much as I’d like to be to jump.
I believe bitcoin is still a good investment, you don’t have to invest in a whole Bitcoin, you can invest in 1/3, 1/4, 1/2, what you are comfortable with. My concern for myself is I’m not computer literate as much as I’d like to be to jump.
I have a friend who bought a couple of g's worth of bitcoin when it was new and at one time it was valued at a lot more but my question to him was how do you sell it. He said some online retailers take it in place of money...now I still don't know anything about it and he still has all of his bitcoin...now if Gunbroker takes it in place of a credit card I can see some value...
Theres the fellow who told his girlfrient to dump his trashcan, and later found out he had apparently swept his digital minidrive in there. Worth about 8 mil, then. Has been digging thru the local landfil for it. They just legally stopped his search (again) after he tried to buy the landfil, becsuse it would cause environmental concerns and besides, "landfils have temperature extremes and vile chemicals and the hard drive wouldnt have survived this long". Its now worth 750 mil!
Just his luck, he finds it, and the norks have hacked and stolen it anyway...
Just his luck, he finds it, and the norks have hacked and stolen it anyway...
Yaworski
Hawkeye
My wife had a knack for finding retired Beanie Babies before their prices started going up. The problem was that she wouldn't sell them. I told her "give me prices and I'll put them on eBay" but she never did.
I have something like 400 Beanie Babies in plastic bags in the basement. My daughter tried selling them on eBay but folks want them certified. So you spend $25 to get it certified so you can sell it for $30. Nah. We then took them to a flea market and priced them at $5 each. Thought that we'd sell a bunch. Two. Sold two. So now they're all getting donated to the domestic violence unit at the Sheriff's office.
I figure that we shelled out at least $4k for those damned things.
Thats why we still hear "this new thing could be the next beanie baby/cappatch badge/pet rawk", whuch means fergit longterm, buy/sell/trade while they're still HOT.
Same story with my mother in law. She bought hundreds of the damn things.
Ended up donating them to the local elementary school.
jack black
Hunter
I have done well with buying the ETF there are a few of them.
I was interested in bitcoin back in 2009. Couldn't really get a handle on it so I didn't buy. Looked at it a little more when you could actually get cash out of it and/or buy something. My thought process was (if I did) was to cash out in cars or jewelry as those were the most common ways to use it. Then I would just resell the items. Alas, I didn't so it doesn't matter.
I have a friend that is a bandwagon kind of guy. Jumps on the hottest fads, gonna get rich, blah, blah, blah.... Well it seems there is a new crypto out and it gonna make him a millionaire. Keeps telling me I need to buy. I stick with what has worked.
I have a friend that is a bandwagon kind of guy. Jumps on the hottest fads, gonna get rich, blah, blah, blah.... Well it seems there is a new crypto out and it gonna make him a millionaire. Keeps telling me I need to buy. I stick with what has worked.
I don't buy something I don't understand.
Yaworski
Hawkeye
I got married. Does that count?
OP
FWIW there was a Crypto currency summit yesterday that the president was involved in. Just heard on the news but haven’t looked it up yet.
I read the first paragraph of an article about it... folks there paid DT a million dollars each to attend and then got a sales pitch on buying his coins. I'm surprised most of you have not already invested in it.
Yaworski
Hawkeye
I read the Reuters article, didn't see any mention of paying to be there. Source please?
- Joined
- Dec 9, 2013
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Like the get rich Iraqi Dinar fad going around years ago. Local car dealership bought $1 million US of the dinar, so far still nothing.
