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Discussion in 'Community Forum' started by Strutter, Jan 22, 2021.
As long as whatever is in those mason jars still hold value when you rush to dig them back up!
The difference is stock price has something tangible to value. A business or products can be tracked to see what the value is. You can read profit statements. You may buy on the hopes it continues to grow but at least you have something of actual value to base it on. Bitcoin has zero to base it on other than what people are willing to spend on it. Its 100% speculation. It can go to 1 dollar as easy as 500 thousand. There's nothing to tell you the value other than other people pumping money into it. There are many crypto currencies out there but this one is hot. Id be rather spooked seeing it explode like it is on speculation alone.
Ignorance is bliss, please don’t get in front of me at the grocery store I’m assuming you still whip that checkbook out to pay
What tangible value are you speaking of? Let’s say you invest in Coca-Cola stock, what are you gonna do run over to the freaking plant and grab your cans to take home with you. You’re discrediting something you know zero about. I’m not mad or trying to insult you but just stop it.. Everything has risks those are the chances we take to make money. I bought bred cows last fall. I have no guarantee on their future. All them standing around a tree and a single lightning strike would do me in. Ask me how I know
I bet you don't use Bitcoin to pay....
Tangible. Look at Walmart or Apple. They have hard assets. They can list how much money they make and spend. They have growth depending of something real. Bitcoin does not. Sorry to ruffle your panties. Invest how you want. I don't care. You may become filthy rich. I hope you do. Just don't pretend Bitcoin is anything other than speculation driven because its not. The only value it hold is from the money pump into it. Period.
Bitcoin is more tangible than the dollar. It’s more of a hard asset than any other currency in the world. It is finite. They aren’t making anymore. We can all chastise it because it’s new and we don’t fully understand it...but it’s definitely more tangible than the digitized dollars that they don’t even print
Wildman....literally the exact argument you just made about Bitcoin can very easily be made about the dollar
Yet you buy the bitcoin with dollars and sell it back for dollars. My point with bitcoin remains it has no value beyond what people are pumping into it. There’s nothing to base the value on. The dollar will drop in value but it will not fluctuate wildly and drop 3000% over night. I’m sure you saw the guy that has over 200 million in bitcoin and can’t get it because he forgot his password. He only has 2 more attempts at it before he’s locked out forever.
I still write checks,...still use cash....love basic commodities at times. Unfortunately electric cars and banking from our phones is the future. Digital assets and block chain will be household words within a decade or less...in less than 5 years the banks will pretty much be in the lending business only. It's coming....imo.
I think you under estimate the widespread acceptance and proven value of crypto currencies. Currency is only as valuable as what someone else will give you for it. Modern monetary theory is destroying our dollar value by inundating the economy with digitized money that doesn’t exist. It’s based on nothing but the “full faith and credit of the US” and reserve currency status....but that can change over night.
Im still relying on my 401 k stocks. If it fails, wont matter, everything will. Im investing in toilet paper, ammo and food. It gets as bad as i fear it will, a wheel barrow full of gold wont buy a cheeseburger. A roof over your head, food, and mean to raise more and protect what you have, will be worth more than anything, digital money, gov currency or precious metals. Precious metals to me are brass and lead.
Oddly enough, Tucker Carlson had a good segment on modern monetary theory tonight. I’ll post it as soon as I can find it on YouTube.
The 64 dollar question for me is, How much is enough to retire? Wish I knew the answer.
Too many unknown variables.
As you stated. Too many variables. I’m 42 and when I was 20 I’d have thought a million dollars would’ve been plenty enough to live a good life and not work anymore. That’s obviously not the case and I’d have come up way short...... I think the biggest variable in the equation is how an individual wants to live. I see so many people today that live paycheck to paycheck. Not necessarily because they have too. But because they’ve not learned to live within their means. They’ve got the I want it all and I want it now mentality. People could make a huge impact in their daily lives if they’d spend their tax returns on paying off debt or investing that money. Most just blow it on something they think they’ve got to have that they ultimately sell off for half its value when they’re broke again 2-3 months later. Which leads to what the Democrats want to do. They want to force those that plan for the future to pay for those that don’t....
ETA: Didn't mean to go on a rant. Lol