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01-13-2018, 09:21 AM
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#91
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Veteran
Join Date: Mar 2010
Posts: 5,222
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Quote:
Originally Posted by PaceAdvantage
Well, if you (using the general YOU here, not YOU personally) think Bitcoins are a sham and a ponzi scheme, but you're scared of them going limit up, then I would suggest you really don't think they are such a scam after all.
And let's be realistic here...unless some major country abandons their current currency and declares Bitcoin their currency going forward (chances of that happening are, dare I say, nil), you really don't have that much to worry about in terms of losing your life savings in a lock limit situation.
For the record, I am not going to trade Bitcoin futures...long or short...I'm just asking those who are so bearish on them and call them a scam and a ponzi scheme, why aren't you itching to short at least 1 contract...
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Because I don't ever itch to gamble.
I thought about your question after you asked it. Other than my lack of willingness to see gambling as anything more than an entertainment expense, why would I want to bet on something with that risk/reward ratio?
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01-14-2018, 03:08 AM
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#92
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,604
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Quote:
Originally Posted by Fager Fan
Because I don't ever itch to gamble.
I thought about your question after you asked it. Other than my lack of willingness to see gambling as anything more than an entertainment expense, why would I want to bet on something with that risk/reward ratio?
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Well then, you should reconsider your theory that bitcoin is nothing more than a con and/or a ponzi scheme, which is what you wrote earlier.
Because if in fact you believed this, then shorting bitcoin on the futures market wouldn't be a gamble to you. It would be free money. Because something that has gone sky high recently, but is nothing more than a con and/or a ponzi scheme...WILL come crashing down one day.
See ENRON as an example:
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01-14-2018, 08:18 AM
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#93
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Veteran
Join Date: May 2014
Location: Lincoln, NE
Posts: 11,474
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If you could sell illegal drugs legally on the stock market, what would you pay for it?
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01-14-2018, 12:42 PM
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#94
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Veteran
Join Date: Mar 2010
Posts: 5,222
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Quote:
Originally Posted by PaceAdvantage
Well then, you should reconsider your theory that bitcoin is nothing more than a con and/or a ponzi scheme, which is what you wrote earlier.
Because if in fact you believed this, then shorting bitcoin on the futures market wouldn't be a gamble to you. It would be free money. Because something that has gone sky high recently, but is nothing more than a con and/or a ponzi scheme...WILL come crashing down one day.
See ENRON as an example:
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It WILL come crashing down one day. It doesn't mean I will be involved in any way.
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01-15-2018, 08:38 PM
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#95
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Registered User
Join Date: May 2011
Posts: 22,638
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Quote:
Originally Posted by PaceAdvantage
Because if in fact you believed this, then shorting bitcoin on the futures market wouldn't be a gamble to you. It would be free money. Because something that has gone sky high recently, but is nothing more than a con and/or a ponzi scheme...WILL come crashing down one day.
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Do they have minis somewhere? other wise with a 30K maintenance, you need a half a million in your account to cover swings.
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01-16-2018, 11:06 AM
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#96
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Veteran
Join Date: Jun 2002
Location: near Philadelphia
Posts: 4,560
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Needless to say, we've been overwhelmed beyond boredom about Bitcoin, etc. these past many months, especially when that price started racing towards $20,000.
But, one week ago January 7, 2018, the Dow Jones Industrial Averages hit 25,000 ... and just this morning, only one week later, the Dow has crossed 26,000!!
Yet, very little commentary on here about the stock market, especially the Dow ... not just in recent months but since... let's say 11-2-16, 8,000 + points ago! Yet, very little commentary on here about the stock market, especially the Dow ... not just in recent months but since... let's say 11-2-16, 8,000 + points ago!
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01-16-2018, 12:19 PM
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#97
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Registered User
Join Date: Jan 2007
Posts: 1,133
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As I type Bitcoin is trading on the CBOE around 11770. Once trading on an exchange opened a “two-way-street” a more orderly market arrived.
Free market capitalism, the best!
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01-16-2018, 12:48 PM
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#98
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Veteran
Join Date: Feb 2013
Location: Washoe County, Nevada
Posts: 2,253
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Quote:
Originally Posted by reckless
Needless to say, we've been overwhelmed beyond boredom about Bitcoin, etc. these past many months, especially when that price started racing towards $20,000.
But, one week ago January 7, 2018, the Dow Jones Industrial Averages hit 25,000 ... and just this morning, only one week later, the Dow has crossed 26,000!!
Yet, very little commentary on here about the stock market, especially the Dow ... not just in recent months but since... let's say 11-2-16, 8,000 + points ago! Yet, very little commentary on here about the stock market, especially the Dow ... not just in recent months but since... let's say 11-2-16, 8,000 + points ago!
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It’s not just very little commentary. What little commentary there has been is largely about how overvalued the market has gotten. Not just since 11-2-2016 (or 11-8-2016) though. It’s been true throughout the rally which started in March 2009.
You can own part of a company that generates a profit and shares it with you or you can spend time watching one minute ticks and trying to guess which direction the next one moves. I can’t imagine putting that much effort into something when there is such an easy alternative for generating capital gains and income.
Of course, you might not want to own a portion of the greatest capitalist economy in the world. You could always buy some shiny rocks instead. Plenty of people have made that choice despite the fact those rocks have consistently lost value vs. equities on any long term horizon.
There is just no accounting (I mean that literally) for the choices many make with their money.
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01-19-2018, 12:52 AM
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#99
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Registered User
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,757
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Bitcoin has fallen from $20,000 down to $10,000 in about a week. i have no idea if Bitcoin will be around or not be around going forward.
the people that i have spoken to that own the Bitcoin say they own it because they don't trust fiat currency. i told them they should sell Bitcoin and buy precious metals with the money they have.. they say its going much higher.
i still say buy insurance, own gold. but in my opinion, one of these crypto's will withstand the test of time, my problem is there are so many of them now and probably more in the future that i don't know which one is the right one. i say gold will be around for about another 5000 years.
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01-20-2018, 04:57 PM
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#100
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,604
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See how much money you bitcoin-bashers could have made in one week shorting on the futures market?
I gave you the keys to the kingdom that you didn't even know existed, but you refused to run with it...
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01-20-2018, 05:47 PM
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#101
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Veteran
Join Date: Mar 2010
Posts: 5,222
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Quote:
Originally Posted by PaceAdvantage
See how much money you bitcoin-bashers could have made in one week shorting on the futures market?
I gave you the keys to the kingdom that you didn't even know existed, but you refused to run with it...
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How much Bitcoin do you own?
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01-20-2018, 07:58 PM
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#102
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,604
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Quote:
Originally Posted by Fager Fan
How much Bitcoin do you own?
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None...I have no opinion on it one way or another...never have.
I view it as a curiosity.
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06-04-2018, 01:01 PM
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#103
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Apprentice
Join Date: Apr 2018
Posts: 4
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I love cryptos!!
Hi all,
Just throwing my 2 cents worth into this topic.
Personally i really love the idea of having control of my own money and not trusting a 3rd party like a bank. I believe all we do is get either fleeced by the banks or the government.
Your money, your rules!!
Regards timmy2toes.
P>S id love your thoughts on my perspective
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06-05-2018, 12:08 AM
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#104
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Registered User
Join Date: May 2011
Posts: 22,638
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timmy2toes, can you use your cryptos to fill up your car with gasoline or buy a burger at a drive through?
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06-11-2018, 06:43 AM
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#105
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Mike Schultz
Join Date: Oct 2010
Location: North Carolina
Posts: 2,234
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Bitcoin is currently priced at $6,750; headed to $5,500 IMO.
__________________
I attract money, I attract money...
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