Yeah that’s my problem with crypto or bitcoin easy for a puter Whizz hack into the account then you have nothing. If I am correct have pay higher taxes on them also.
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Bitcoin anyone? Crypto?
- Thread starter Realtor
- Start date
I am up 676% in stocks from 2010 to Sept. 2025. That's 14.5% per year with lots of dividends.
I think most people got beyond the hype and the huge swings in the prices of The Bitcoin. The Bitcoin is rigged for you to lose your money.
The losers elect a communist mayor.
I think most people got beyond the hype and the huge swings in the prices of The Bitcoin. The Bitcoin is rigged for you to lose your money.
The losers elect a communist mayor.
BTC is still here chugging along, long after many people speculated. Many people have made varying valid points from different perspectives. I am still in BTC. My first small (very small purchase) was in the single digits. The current price is in the 6 digits. I have sold most of it. Huge Win!!
I am playing BTC through other avenues now other than holding a small amount of actual tokens. I have been gambling on the BTC options on the stock market. Just playing the volatility and making a few bucks each direction. I also play some ETF's that sell calls/puts of BTC contracts and not directly holding BTC. Gamblers gambling. But the dividends they pay are sitting around 50% annually. Total gamble in actually buying the ETF shares for the long term, but an acceptable diverse risk of some funds for long-term DRIP share accumulation.
Everything is a risk and BTC/crypto is no different. Yes, crypto needs electronic infrastructure intact to continue to exist. Just because something could potentially happen (SHTF) and you are prepared for it, don't put all your eggs in one basket. We preppers (yes, I am well prepared in all avenues) could be wrong and it never happen. I hope it never happens. But preps are like insurance, a "What If?"........ Crypto should be treated the same. "What If" it does go mainstream? "What If" this is the early iteration of the next currency/economic life cycle (for next 150 years)? Shouldn't you consider a small diversification of assets for the "What If"? I think so, which is why I play with crypto.
Just because people don't understand it doesn't mean it is bad. It means that there are many people who are hopelessly dependent on a system they hate and complain about.
Now, Gold and Silver. I love it. I am also a stacker. But Gold and Silver is not quite as liquid as we think. I recently sold a fair share of Gold/Silver bullion. If I sold the gold to a dealer, they were not paying spot due to current market fluctuations (high prices). Silver..... the dealers flat out refused to buy it unless I was willing to discount my silver a minimum 15% under spot. If they cannot unload it, they ain't buying! Did I sell? Yes, personal circumstances required the sale and I did take a discount to sell what I needed to. Could I take the metal to the bank for deposit? Nope. Could I take it to the hospital to pay a bill? Nope. Credit Card company would also not accept it. Then I had to justify the reason why I was depositing so much cash to my bank, when large cash deposits are not a regular occurrence. Banks are required to file forms in this instance. BSA/AML.
If I had BTC, I could have pulled up Coinbase app on my phone and initiated the trade. Sold for market price, almost immediately. Funds clear within 1 hour. Initiate transfer of CASH from Coinbase to my bank account. Pay for 1 day service or free for 3 day service. Funds in my account 3 days later. All of the funds. Yes, I have created a taxable transaction by using crypto and selling over 10k. Selling bullion over a certain amount to a dealer also has the potential to create a taxable transaction. Uncle Sam is reducing the ways to move money around without technically creating a taxable transaction. Soon, cash will be obsolete (within 20 years maybe). Then what? 100% electronic money....... Peer-to-peer system of transfer of emoney..........commercial acceptance of emoney...........global acceptance of emoney.......... consumer demand for transactional transparency of emoney........... Sounds a lot like crypto to me...
This is my current experience of a mini-SHTF scenario I went through. We can wish all we want, but everything is changing/evolving quicker than we expected. Get left in the past or consider embracing the future. That sentence is funny to me. I am pushing 50 yrs old and find myself needing to re-learn finance based on the evolution of money that has already started.
Just my $.02.
I am playing BTC through other avenues now other than holding a small amount of actual tokens. I have been gambling on the BTC options on the stock market. Just playing the volatility and making a few bucks each direction. I also play some ETF's that sell calls/puts of BTC contracts and not directly holding BTC. Gamblers gambling. But the dividends they pay are sitting around 50% annually. Total gamble in actually buying the ETF shares for the long term, but an acceptable diverse risk of some funds for long-term DRIP share accumulation.
Everything is a risk and BTC/crypto is no different. Yes, crypto needs electronic infrastructure intact to continue to exist. Just because something could potentially happen (SHTF) and you are prepared for it, don't put all your eggs in one basket. We preppers (yes, I am well prepared in all avenues) could be wrong and it never happen. I hope it never happens. But preps are like insurance, a "What If?"........ Crypto should be treated the same. "What If" it does go mainstream? "What If" this is the early iteration of the next currency/economic life cycle (for next 150 years)? Shouldn't you consider a small diversification of assets for the "What If"? I think so, which is why I play with crypto.
Just because people don't understand it doesn't mean it is bad. It means that there are many people who are hopelessly dependent on a system they hate and complain about.
Now, Gold and Silver. I love it. I am also a stacker. But Gold and Silver is not quite as liquid as we think. I recently sold a fair share of Gold/Silver bullion. If I sold the gold to a dealer, they were not paying spot due to current market fluctuations (high prices). Silver..... the dealers flat out refused to buy it unless I was willing to discount my silver a minimum 15% under spot. If they cannot unload it, they ain't buying! Did I sell? Yes, personal circumstances required the sale and I did take a discount to sell what I needed to. Could I take the metal to the bank for deposit? Nope. Could I take it to the hospital to pay a bill? Nope. Credit Card company would also not accept it. Then I had to justify the reason why I was depositing so much cash to my bank, when large cash deposits are not a regular occurrence. Banks are required to file forms in this instance. BSA/AML.
If I had BTC, I could have pulled up Coinbase app on my phone and initiated the trade. Sold for market price, almost immediately. Funds clear within 1 hour. Initiate transfer of CASH from Coinbase to my bank account. Pay for 1 day service or free for 3 day service. Funds in my account 3 days later. All of the funds. Yes, I have created a taxable transaction by using crypto and selling over 10k. Selling bullion over a certain amount to a dealer also has the potential to create a taxable transaction. Uncle Sam is reducing the ways to move money around without technically creating a taxable transaction. Soon, cash will be obsolete (within 20 years maybe). Then what? 100% electronic money....... Peer-to-peer system of transfer of emoney..........commercial acceptance of emoney...........global acceptance of emoney.......... consumer demand for transactional transparency of emoney........... Sounds a lot like crypto to me...
This is my current experience of a mini-SHTF scenario I went through. We can wish all we want, but everything is changing/evolving quicker than we expected. Get left in the past or consider embracing the future. That sentence is funny to me. I am pushing 50 yrs old and find myself needing to re-learn finance based on the evolution of money that has already started.
Just my $.02.
I definitely agree with one of the points you made! It doesn't hurt to have a small amount of money in Bitcoin. If your net worth is 1,000,000 ..... it probably wouldnt hurt to have like 10k in bitcoin.
This is why I have a trouble buying PM. To buy I have to pay over spot. To sell I have to sell under spot. There is just a lot that has to be taken into consideration
Nope, never got on
Recent times I've been looking to invest a little in this market. Just haven't had the funds to do so. And it wouldn't be much. I have several investments I've done this way. Most have paid off well, just small amounts. Have to start somewhere
True. For me, it was still a win. I bought the gold at $1,800 per ounce using BTC. The silver was accumulated around $24 an ounce. It was an effective store of value and the amount of fiat dollars I received was twice what I used to purchase. Is that because Gold/Silver became more scarce or the fiat cotton toilet paper we "trust" continues to lose its purchasing power.
I still say buying an unregulated, not insured, and an un-reulagged "coin" is not a good long term investment. I'll admit that many of you guys can trade to sell high and buy low.
I like the US $dollar when buying cars, guns and hamburgers. I had to pay ODT in dollars to renew my subscription.
The crypto could go to $50K or zero. It has no intrinsic value. If we have a stock market correction, you dudes that own the cropto will suffer from the big loses.
I like the US $dollar when buying cars, guns and hamburgers. I had to pay ODT in dollars to renew my subscription.
The crypto could go to $50K or zero. It has no intrinsic value. If we have a stock market correction, you dudes that own the cropto will suffer from the big loses.
