Bitcoin—Keep Your Thoughts Coming…

Discussion in 'Bad Dog Cafe' started by staxman, Oct 20, 2021.

  1. ChicknPickn

    ChicknPickn Tele-Afflicted Silver Supporter

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    Well said. Tax implications for the novice day trader types can be gruesome. But, you know, everyone's a genius. Just like I was during the Dot.Com debacle.
     
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  2. tomasz

    tomasz Tele-Meister

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    If you are looking for an investment, I'd say, buy cheap land in the north, where the next mediterranean climate will settle in 20 years. Lots of people will want to move there :)
     
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  3. staxman

    staxman Tele-Afflicted

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    At least for now, investing in a cryptocurrency ETF or trust within a Roth account can help with taxes. But as others have mentioned, government regulation of crypto is an unknown.
     
  4. '64 Tele

    '64 Tele Tele-Afflicted

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    We used to have a Shiba Inu (Japanese akita dog breed). I swear it was ADHD and chewed everything.....just saying. :rolleyes:
     
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  5. Greggorios

    Greggorios Friend of Leo's Gold Supporter

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    I have every confidence that Bitcoin and other crypto currencies will follow the same trajectory of success as other beasts born of the internet, like Facebook, ransomware, click bait, digital warfare and the like.

    "A fool and his/her/their money are soon parted."
     
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  6. fasteddie42

    fasteddie42 Tele-Afflicted

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    it's a new religion.
     
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  7. staxman

    staxman Tele-Afflicted

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    If it all goes bust, I can play REM’s “Losing My Religion”!
     
  8. Obsessed

    Obsessed Telefied Silver Supporter

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    Let the pyramid schemes continue. Now notice the spread of numerous crypto currencies. Just like the pyramid schemes of the early 80s. The only losers are the ones caught without a chair when the music stops. :lol:

    Kind of a crude game compared to stock market indexes or Lotto, but apparently we love free money without working for it.

    This is going to be so much fun to watch.:twisted:
     
  9. staxman

    staxman Tele-Afflicted

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    I do have fun with investing. No one should invest more than they are willing to lose in a highly speculative play like cryptocurrency. Bitcoin is at an inflection point that could play out in unknown ways. As of late, a lot of big players like Morgan Stanley, PayPal, Square are beginning to heavily invest in Bitcoin and crypto infrastructure. Does that mean Bitcoin is the future? Perhaps not. I wouldn’t say your comments are incorrect.
     
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  10. pbenn

    pbenn Tele-Afflicted

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    Wonder if there is a "short" or "bear" bitcoin ETF.
     
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  11. staxman

    staxman Tele-Afflicted

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  12. dsutton24

    dsutton24 Doctor of Teleocity Ad Free Member

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    There you go! Name calling, that's always an argument winner.

    /Bob
     
  13. schmee

    schmee Doctor of Teleocity Silver Supporter

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    Before: "I ain't investing in that unless it's FDIC insured!"
    Then: "It's a Pyramid group, We just gotta get some more people invested!"
    Now: "Someone made up imaginary money! Let's put our life savings into it!"


    I invested in Chrysler options on advice from a friend in the late 80's. I made 50% in one week!
    Unfortunately, I didn't sell then, I lost 20% in the end.
    Ya gotta know when to get out.
     
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  14. Greggorios

    Greggorios Friend of Leo's Gold Supporter

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    Whether bitcoin or any other investment vehicle, PLEASE, take the time to understand the difference between "investing" and "trading" in securities. The vast majority of people have little to no business in trading securities.
     
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  15. beanluc

    beanluc Tele-Afflicted

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    Who's "the house," here?

    I don't know, I'm asking.
     
  16. tarheelbob

    tarheelbob Tele-Holic Silver Supporter

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    Well, only if one self-identifies as a Neanderthal. Me? I'm definitely more of the "shake fist at cloud" and "get off my lawn" curmudgeon.

    - Bob
     
    Last edited: Oct 20, 2021
  17. Esquire Jones

    Esquire Jones Tele-Meister

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    For instance, the Chinese government just made BC illegal in China. They apparently didn’t like the competition.

    If it presented a real threat to the currency here I would imagine everyone’s favorite Uncle Sam would step in.

    But again I’m fascinated by the whole thing; not really a hater. Just not smart enough to fully understand the magic.
     
  18. slauson slim

    slauson slim Friend of Leo's

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    Do your homework. Don’t invest if you don’t understand it. Are you willing to undertake the risk? Be skeptical about the hype. Diversify your investments.

    Recent editions of The Economist newspaper have included understandable descriptions of crypto-currency and decentralized finance (de-fi), and the pros and cons.

    My spouse is a director of a bank involved in investing in Bitcoin.
     
  19. Toto'sDad

    Toto'sDad Tele Axpert Ad Free Member

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    I'm not WILLING to lose any amount of money! :D
     
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  20. Obsessed

    Obsessed Telefied Silver Supporter

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    Companies, just like banks, can and do afford and mitigate big losses compared to the individual investor. Not much skin in the game for Morgan Stanley or PayPal, yet it makes business sense to get involved … just in case crypto currency’s takes off for awhile. Not that your comments are incorrect, but gotta keep perspective.
     
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