Bitcoin

[smackaholic]

Derron,

If your portfolio lost 36K in the 8 years AFTER the market shit itself, you need to find someone else to manage it. Through the Obama years, after the crash, the market has been on a fairly steady climb, partly because it had no other way to go after the crash and partly because it was the only place to put your money if you didn't want to settle for the ridiculously low returns CDs were paying.

I honestly don't know what mine has done over this period as I find that looking at it month to month just gives me a headache.

[Rooster]

http://www.foxnews.com/world/2017/12/10 ... -says.html

Ok, so I was geographically off, but the essence of my previous post is spot-on. Digital money in the form of credit cards, debit cards, or bitcoin are highly susceptible to thievery by hacking. Cash is still king.

[Screw_Michigan]

Digital money in the form of credit cards...are highly susceptible to thievery by hacking.

I couldn't care less. Not my problem.

[Derron]

Derron,

If your portfolio lost 36K in the 8 years AFTER the market shit itself, you need to find someone else to manage it. Through the Obama years, after the crash, the market has been on a fairly steady climb, partly because it had no other way to go after the crash and partly because it was the only place to put your money if you didn't want to settle for the ridiculously low returns CDs were paying.

The majority of that loss happened between in the last part of 2015. I was ready to eject completely from the market. My bro in law got out just before that period. Went to cash and real estate with 4 million. He does not need growth so that was a good move on his part. I met with my broker, my banker and another friend who has about 5 million in the market. We met individually and in groups about once a week for months. I stayed in the market and am glad I did.

I honestly don't know what mine has done over this period as I find that looking at it month to month just gives me a headache.

And you are cracking on my broker and strategy ???? Bwahhaaa....dude I look at mine about two times a day. It can be painful at times, but over all it has been doing very well. In fact my banker just move 500K over to my brokers accounts. Once you hit a certain point in investing, you really have it made, and unless there was some kind of catastrophic market collapse, my retirement is pretty well set, and any variations are easy to ride it out. I am still adding to it so that makes it even better.

[smackaholic]

Yeah, I probably should pay a little more attention to it and at times in the past did, but I have decided its better to just look the other way. I have a pretty well diversified account and currently put 30% in. Trying to play catchup basically as I was pretty derelict about this stuff in my 20s and 30s. Rack those who did hit it hard through their 20-30s, they should all retire wealthy.

[Left Seater]

None of it will matter if Congress can’t get their spending under control.

[smackaholic]

Yeah, everything will collapse and we'll all be working for the chinese.

[Softball Bat]

Bitcoin is getting raped.

[Mikey]

Bitcoin is getting raped.

They should file a sexual harassment complaint.

[Dr_Phibes]

Bitcoin is the ONLY example in the entire history of economics that perfectly exemplifies Marx's "Labour Theory of Value"...
e.g. the value of any product or service is directly proportional to the resource and effort expended in it's creation.

I would investigate the difference between 'value' and 'use value'. Just as you should investigate 'self-criticism' then atonement.

[Shlomart Ben Yisrael]

I would investigate the difference between 'value' and 'use value'.

I did.
Because I think dialectically.


You should try it.

[Shlomart Ben Yisrael]

3 years hard labour in the gulag worker's relaxation spa for you, comrade.

[Go Coogs']

'holic,

You really need to read more about bitcoin before posting something in here about it. Its following the same pattern as the dotcom bubble. Amazon went from $50 to $7 almost overnight during that time and Pets.com completely collapsed. Bitcoin is going to do the same and only a few cryptos are going to survive. You should really read up on bitfinex and Tether and you'll understand how it all works and why its inevitably doomed. The crypto with the best infrastructure and support staff and clean ledgers will survive and gain steam again, but right now its just too damn volatile because of all the subsidiaries that have popped up in the last few months such as Cardano, IOTA, and Monero.

And to echo what Marty said, mining has become more and more difficult. It's nearly impossible to mine on your own and you need quite of bit of cash to get started. Group mining is your only hope and you better be able to solve a few algorithms just to get in said group. My friends here at work have taken the plunge without educating themselves properly and they are stuck in an affirmation bias type quandary because they are only reading articles and forums that advocates bitcoin's success.

Fees, exchange rates, and transfers to smaller cryptos are what is causing its current swing. Zero regulation is also scary when you consider how to tax an international digital currency. When governments intervene, you could see a major drop. Too many questions right now.

[Slap]

'holic,

You really need to read more about bitcoin before posting something in here about it.

Smackaholic talks straight out of his ass.

I'd like to see Elana Kagan put him in a sleeper hold on national television.

[smackaholic]

How did I talk out my ass? I don't know a g0d damn thing about bit coin and trust it a bit. I started this thread to get others' take on it.

I would like to see that dude Kagan try something. I would beat the fukk out of him.

[BSmack]

I knew Bitcoin was fucked when I saw all of the D students that I went to High School with jumping on the bandwagon. Funny the Harvard Law graduates in the class don't seem as enamored.

[Dr_Phibes]

Faith in any currency is notionary, there's people that think old rules don't apply to them. They've re-invented the wheel.