You said "effectively a meaningless drop". It isn't meaningless, even if you own a little tiny fraction. Small yes, meaningless no. Repoman0's post addressed that flaw of your statement. He isn't Warren Buffet, yet he got a meaningful amount of money.I don't see how that changes any of what I said. One could make $100k a year on CD's or govt bonds, assuming you buy enough of them.
Right. It’s not just betting on share prices like crypto. He selectively ignored the part about dividends — real cash paid to “part owners.”You said "effectively a meaningless drop". It isn't meaningless, even if you own a little tiny fraction. Small yes, meaningless no. Repoman0's post addressed that flaw of your statement. He isn't Warren Buffet, yet he got a meaningful amount of money.
It's gambling, plain and simple. The only way to make money is to find a greater fool.
At least if you buy a piece of art or jewelry, you have something tangible and real.If anything bitcoin is probably more like investing in valuables like art, fine wine, expensive watches etc.
Artifacts which are favorable when you want to do money laundering, avoid paying taxes and circumvent tariffs etc. Just like bitcoins, which coincidentally is turning popular now....
Yeah, it's not 1:1, but it is not like stocks at all.At least if you buy a piece of art or jewelry, you have something tangible and real.
How is buying bitcoin any different than buying gold, or silver - or maybe let's compare something like IBIT or FBTC to GLDM...Gambling with an underlaying basis of economic activity. Crypto has no underlaying basis of value.
Gold and silver are hedges for the paranoid. They both have thousands of years of history of people directly trading them for food and goods. Bitcoin depends on the modern world continuing to function and society allowing it to continue to burn 1% of the world’s electricity budget.How is buying bitcoin any different than buying gold, or silver - or maybe let's compare something like IBIT or FBTC to GLDW...
I agree that in reality it's mostly waiting for bag holders. I've put some small amount of money on MSTR. Only question is when to exit...
Don't look to me as someone to defend hoarding gold or silver. High school me tried silver in the 80s and it is lower today in inflation adjusted dollars than when I bought.How is buying bitcoin any different than buying gold, or silver - or maybe let's compare something like IBIT or FBTC to GLDW...
I agree that in reality it's mostly waiting for bag holders. I've put some small amount of money on MSTR. Only question is when to exit...
At least if you buy a piece of art or jewelry, you have something tangible and real.
Yeah, crypto is kind of scamy, with the "good uses" seemingly limited to gambling and doing illegal things. Going to simply stay away from "investing" in such a product and stick with my boring index funds.It's like a gentleman's club with bouncers designed to take your money like some sort of exclusive club!
But who can you sell crypto to? big firms??
And if you say it's a ponzi scheme.. you're looked upon like a troll and laughed at.. and still they find suckers to buy into it.
Get rich slowly is a tried and true method. I'm following it quite nicely.Yeah, crypto is kind of scamy, with the "good uses" seemingly limited to gambling and doing illegal things. Going to simply stay away from "investing" in such a product and stick with my boring index funds.
When there is major turmoil in your part of the world, gold and silver don't do a whole lot (food and shelter are way more important). But at least you can trade them for food and shelter. Try trading crypto for food and shelter when there is no electricity or no internet because of that major turmoil. On average, about 1 in 25 people in the world are in that situation of a long term blackout.How is buying bitcoin any different than buying gold, or silver - or maybe let's compare something like IBIT or FBTC to GLDM...
I agree that in reality it's mostly waiting for bag holders. I've put some small amount of money on MSTR. Only question is when to exit...
When there is major turmoil in your part of the world, gold and silver don't do a whole lot (food and shelter are way more important). But at least you can trade them for food and shelter. Try trading crypto for food and shelter when there is no electricity or no internet because of that major turmoil. On average, about 1 in 25 people in the world are in that situation of a long term blackout.
Really think about trading crypto for what is important when you have no power and/or no internet. That is how they are different.
PREACH brother. Can I get an A-men.I maybe "stupid" for not getting into crypto but I have no desire to look "galactically stupid" by getting played like a fool.
On sale just in time for Christmas?Ouch... Target missed the, uh... Target. Currently down 16% premarket.