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Bitcoin anyone? Crypto?

Thread in 'Finance / Investing' started by HUNTING, Jun 20, 2019.

  1. HUNTING

    HUNTING ODT Supporter

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    May have been a mistake but I stuck $750 into Grayscale bitcoin trust into the Roth IRA... when you really look into it, i truly
    Believe it will be huge one day...

    Definitely not betting “big” on it but a little won’t hurt.

    Any other bitcoin investors on here?

    Facebook just jumped on the bandwagon and introduced their version Libra which is nothing like bitcoin which is more a “ digital gold”...
     

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  2. moosensquirrel

    moosensquirrel ODT Junkie!

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    It is still currency, and have no inherent value. If it goes up in value (greater fool theory) and you can get out of it and turn it into something real and useful, (guns, tools, gold and silver coins, etc) you are ok. If it is based on the fiat USD, it will go to zero value. Cryptos are good for privacy and especially for getting your "currency" out of the country and beyond government reach.
     
    FreedomUSMC and Toothpick like this.
  3. chucklenut

    chucklenut The Hen that laid the Golden Legos

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    bitcoin and crypto is only good if you want to do some straight up day trading with it IMO

    you have to follow the market and just like cash it can be straight up stolen (hacked) and you are relying on 3rd party exchanges based in places like bermuda and malta
     
  4. chucklenut

    chucklenut The Hen that laid the Golden Legos

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    these animated videos may be created by an autistic 4chan anime nerd but this dude understands the market lol
     
    palmettomoon likes this.
  5. letusbuyyourcar

    letusbuyyourcar The Hen that laid the Golden Legos Supporter

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    Color me an uneducated simpleton but if it ain't tangible it ain't real. If it's digital it can disappear. And just like you said it can definitely be hacked or stolen.
     
    Wolfpenhiker likes this.
  6. markmayfield42

    markmayfield42 ODT Junkie!

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  7. chucklenut

    chucklenut The Hen that laid the Golden Legos

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    true, i feel much the same but the reality is alot of people make money in this (and alot lose it)

    i think its worthwhile to pursue if you have extra investment cash on hand or if you are good at following trends in the market plus news. to me its like sports betting; i dont know nearly enough to **** with it
     
    Wolfpenhiker likes this.
  8. letusbuyyourcar

    letusbuyyourcar The Hen that laid the Golden Legos Supporter

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    This reminds me of tw separate stories. First one is about the select few guys I know around Houston Co with all the money. All older Crackers as you would imagine. They used to sit around the Ole Times Buffet in Warner Robins damn near everyday and discuss most everything. One day I walked up on them while one was explaining Bitcoin to a retired state court judge. Of course he didn't get it. These are real estate guys mainly. So then the one guy tried to start over explaining it and the judge stopped him and said something I'll never forget. " No I don't need to hear it again.I have a rule that I'm not interested in any investment schemes that need to be explained more than once." Made damn good sense to me.
    Second story was a guy I knew many years ago that used to run his own somewhat less than legal pick 4 or pick 5 football ticket. He made a lot of money at it. But at the same time he had subscriptions to every sports publication known to man. And he spent lots of time online looking at stats scores and football minutia. WAY more effort than I would put into a venture especially an illegal one. But the point here that relates to the Bitcoin or day trading thing is that you would have to put that much time and effort into it in order to at least not get burned much less make money at it.
     
    jhunter and chucklenut like this.
  9. mriton

    mriton Outdoorsman

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    I have a few cryptos too. However, I wouldn't touch Facebook Libra with a ten foot pole. If any of you guys interested in trading my guns, for your crypto, send me a PM. (Bitcoin, ethereum or litecoin only)
     
  10. moosensquirrel

    moosensquirrel ODT Junkie!

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    Amen: gold and silver have no counter-party risk.
     
    mriton likes this.