I invest. Always had the Buffet Rule that if I don't understand it I don't put my money in it.
What say you?
What say you?
Over 50 crowd you in Bitcoin?
- Thread starter HJCane
- Start date
Nothing to be honest and I consider myself fairly intelligent investor. I know it's origins were dark money Silk Road but not the evolution since. It has NO tangible value at all.
That has been my general rule for decades. That's why I posed the question.
They say it will be the Global currency of the future but right now it is the preferred currency of hackers etc.....I know vendors are accepting it. Got a guy in my building who bought a killer Bentley GTC and a souped up Range Rover and he tells me he made a fortune in bitcoin and bought both vehicles with bitcoin. He even had a bitcoin logo license plate made for front of Range Rover.
As far as I can tell he bought when bitcoin was over 50K per coin and has since dropped to around 37K seems to me the car dealer is down a LOT OF MONEY on that deal.
As far as I can tell he bought when bitcoin was over 50K per coin and has since dropped to around 37K seems to me the car dealer is down a LOT OF MONEY on that deal.
Depends on timing no? There is a pizza place in Jacksonville, Florida that sold two pizzas for 10,000 bitcoins back around 2010. Hopefully he held onto them as they would be worth close to $400 million today.
Normal? Absolutely not. Extremely fortunate .. oh yeah. My brother in law is an investment banker for a small boutique firm and he stumbled across a guy .. real blue collar labor type guy .. who started to buy $100 chunks of bitcoin when they were initially introduced .. just for a couple of years. Kind of like lightening striking .. guy was worth upwards of $1 billion a few weeks ago then Elon said he wouldn't accept bitcoin and the value tanked a good 40%. But this guy is sitting in an unbelievable financial position for most likely under $1000 in investment. Definitely not an investment strategy .. just a crazy story about a fluke.
I don't get it either. Here's the Google definition:
Cryptocurrency is virtual money based on software. When you purchase cryptocurrency, you purchase a digital asset based on an algorithm. ... Unlike centralized currency, which is government controlled, cryptocurrency is decentralized. Its value is controlled by the network based on supply and demand.
And, from what I gather, if you lose your password you're screwed. It just doesn't make sense to me. But I'm 62, so maybe it's a generational thing...
LOL, I know! I've had several people explain it, I look it up, and I still can't get my head around it.
I don’t play with invisible shitt…. I want to see it, smell it & taste it… Fucck that crypto crap…
Soon as I hear the word algorithm I'm done
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