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Old 01-03-2018, 10:05 AM   #46
biggestal99
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Why don't you ask for your next paycheck to be paid in bitcoins? Have fun paying your bills. The only way you'll be able to do so is by finding someone who will exchange it for US dollars. It's not a currency yet, and I predict it never will be. It's just a trading speculation. Not backed by any government or anything. It's a huge Ponzi scheme. All the excitement over this is over speculation or how to use it for illegal purposes. The only way for it to succeed as currency is for there to be no excitement over those two reasons, which would make it no better than the US dollar, so why would I prefer it over the US dollar?

I look forward to the day when all the fools are crying over holding their worthless bitcoins. But congrats on giving millions and millions to the people who first invented the computer play money.
Bitcoins are completely liquid.

Its the same as any other commodity.

supply and demand.

Here is the exchange link.

https://www.gdax.com/trade/BTC-USD

You are welcome.

Allan
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Old 01-03-2018, 02:57 PM   #47
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It's odds-on that my home "investment" will never become profitable during my lifetime. However...there is a better-than-average chance that I might recoup my losses by investing in Bitcoin and Ripple.
Perhaps if you studied the PPs for real estate as much as you do for the races then you might not have such a pessimistic viewpoint.
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Old 01-03-2018, 06:46 PM   #48
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with the tax changes, rental property should do very well. its been a good game for the past 8 years. if you live in an are that has travelers, you might want to try short term rentals. i do it with AirBnB that has worked out very well. i started with 1 room in May and i now have 5 that are booked from an April to the end of November 99% of the time. in December i hit 80%, and i hope to get to 60% this month. the rates in the winter time are about 1/3 as much as the peak season.
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Old 01-03-2018, 09:10 PM   #49
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Originally Posted by Fager Fan View Post
Why don't you ask for your next paycheck to be paid in bitcoins? Have fun paying your bills. The only way you'll be able to do so is by finding someone who will exchange it for US dollars. It's not a currency yet, and I predict it never will be. It's just a trading speculation. Not backed by any government or anything. It's a huge Ponzi scheme. All the excitement over this is over speculation or how to use it for illegal purposes. The only way for it to succeed as currency is for there to be no excitement over those two reasons, which would make it no better than the US dollar, so why would I prefer it over the US dollar?

I look forward to the day when all the fools are crying over holding their worthless bitcoins. But congrats on giving millions and millions to the people who first invented the computer play money.
A lot of people think the same of the US dollar...what's it backed by? Faith in the US government to pay up? That's reassuring...

Someone is willing to pay over $15,000 for one bitcoin. Wish I had some...

Same thing.

If/when people LOSE faith in the US Dollar, you'll need a wheelbarrow full of dollars to buy a loaf of bread.

If/when people LOSE faith in bitcoin, it will be worthless...

Yeah, the chances of lost faith a much more likely with bitcoin vs. US Dollar, but you get my point. Neither is backed by anything except FAITH.
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Old 01-03-2018, 09:12 PM   #50
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I watched the documentary on Netflix which was very detailed about Bitcoin. I can't imagine I would spend a penny on it until its backed by something or more regulated. Its like a fraud wrapped in a con built on a ponzi scheme. It is great for online wagering or drug dealing. Outside that, the only way to make money appears to be buying and hoping hucksters hype it up enough to resell to a bigger sucker. I'll pass for now.
You could say exactly the same about each and every stock on the NYSE...buying and hoping to resell to a bigger sucker....lol
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Old 01-03-2018, 09:47 PM   #51
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A lot of people think the same of the US dollar...what's it backed by? Faith in the US government to pay up? That's reassuring...

Someone is willing to pay over $15,000 for one bitcoin. Wish I had some...

Same thing.

If/when people LOSE faith in the US Dollar, you'll need a wheelbarrow full of dollars to buy a loaf of bread.

If/when people LOSE faith in bitcoin, it will be worthless...

Yeah, the chances of lost faith a much more likely with bitcoin vs. US Dollar, but you get my point. Neither is backed by anything except FAITH.
There's actual insurance. In addition, the faith is a long history that when I go anywhere in this country, someone will take US currency for what they're selling. There's also the gold in Fort Knox.

The dollar may trade for less and less in desperate times, but it'll always be tradable.

I don't participate in cons even if it could enrich me, whether it's bitcoins, carbon credits, or Amway. It insults me.

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Old 01-03-2018, 09:49 PM   #52
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There's actual insurance. In addition, the faith is a long history that when I go anywhere in this country, someone will take US currency for what they're selling. There's also the gold in Fort Knox.

The dollar may trade for less and less in desperate times, but it'll always be tradable.

I don't participate in cons even if it could enrich me, whether it's bitcoins, carbon credits, or
More people than you probably realize think fiat currency is the biggest con of all. US Dollar is fiat currency.
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Old 01-03-2018, 09:54 PM   #53
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More people than you probably realize think fiat currency is the biggest con of all. US Dollar is fiat currency.
I don't, unless you're talking of government printing, but there's consequences. Every society must have a common currency, and this is ours. Why is it a con?
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Old 01-03-2018, 09:55 PM   #54
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I didn't say I believe the US Dollar is a con, now did I?

However, I'm not one to jump and down about bitcoin being a con, because I'm sensible when it comes to these sorts of things.

If you're going to go to the extreme about bitcoin, you must examine the extreme view of other, more "accepted" forms of currency.

They really aren't all that different when you get down to the nitty gritty.

Wasn't there a song...Gotta Have FAITH! lol
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Old 01-03-2018, 10:00 PM   #55
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I didn't say I believe the US Dollar is a con, now did I?

However, I'm not one to jump and down about bitcoin being a con, because I'm sensible when it comes to these sorts of things.

If you're going to go to the extreme about bitcoin, you must examine the extreme view of other, more "accepted" forms of currency.

They really aren't all that different when you get down to the nitty gritty.

Wasn't there a song...Gotta Have FAITH! lol
No, I didn't say you did, I just thought you could explain to me why some think it's a con.

I have a visceral reaction to crypocurrency, and I don't have that reaction from total ignorance. I've read quite a bit on it. I had the same reaction to the millions Gore made hawking carbon credits. If I end up being wrong, then I'll be wrong, but I wish I could make a bet on betcoins in the opposite direction than those buying them.
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Old 01-03-2018, 10:12 PM   #56
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More people than you probably realize think fiat currency is the biggest con of all. US Dollar is fiat currency.
Maybe so but the US dollar is still backed by an economy whose GDP is roughly $20 trillion.

A stable democratic-republic form of government, too, which its always and incorrectly hardly ever mentioned in the Bitcoin discussion.

Foreign investments into the USA is roughly $2.5 trillion and US investment world-wide is about $3.5 trillion dollars the other. There's loads of intrinsic value in both the US 'dollar', the US government and the world economy.

Yes, our very own US government debauches the currency with deficit spending and a never-ending printing press but the 'dollar' is far from a near-worthless fiat currency. And those Winklevoss twins usually say Bitcoin is the great new next big thing because the US dollar is 'fiat' currency. A joke and a hustle, imo.

What is backing the Winklevoss twins, Bitcoin, and other similar crypto currency firms exactly?

Is Block Chain technology proprietary? If not, what value is there in the technology besides Wall Street hype?

As to simply imply that Bitcoin, et al, is a needed world-wide payment system .... really? Who should we trust more to handle payment transfers, etc., ... the Winklevoss twins? ... the Google Guys? ... any Soros-backed techfin firm? ... or Visa, American Express, Master Card and the major banking systems of the world which already have the technology, infrastructure, finances, history and acceptance firmly in place?
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Old 01-04-2018, 12:47 AM   #57
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If I end up being wrong, then I'll be wrong, but I wish I could make a bet on betcoins in the opposite direction than those buying them.
Luckily for you, you can. Let us know what price you get in short at...

http://www.cmegroup.com/trading/bitcoin-futures.html
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Old 01-04-2018, 12:55 AM   #58
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Maybe so but the US dollar is still backed by an economy whose GDP is roughly $20 trillion.

A stable democratic-republic form of government, too, which its always and incorrectly hardly ever mentioned in the Bitcoin discussion.

Foreign investments into the USA is roughly $2.5 trillion and US investment world-wide is about $3.5 trillion dollars the other. There's loads of intrinsic value in both the US 'dollar', the US government and the world economy.

Yes, our very own US government debauches the currency with deficit spending and a never-ending printing press but the 'dollar' is far from a near-worthless fiat currency. And those Winklevoss twins usually say Bitcoin is the great new next big thing because the US dollar is 'fiat' currency. A joke and a hustle, imo.

What is backing the Winklevoss twins, Bitcoin, and other similar crypto currency firms exactly?

Is Block Chain technology proprietary? If not, what value is there in the technology besides Wall Street hype?

As to simply imply that Bitcoin, et al, is a needed world-wide payment system .... really? Who should we trust more to handle payment transfers, etc., ... the Winklevoss twins? ... the Google Guys? ... any Soros-backed techfin firm? ... or Visa, American Express, Master Card and the major banking systems of the world which already have the technology, infrastructure, finances, history and acceptance firmly in place?
Look, once again, someone is taking simple statements and extrapolating them into me saying something like the US dollar is near-worthless. Never said that...never said fiat currency is near-worthless.

All I am saying is, before people damn bitcoin with all these knee-jerk criticisms, take a step back and think about what's really backing the money in your wallet...
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Old 01-04-2018, 10:27 AM   #59
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Look, once again, someone is taking simple statements and extrapolating them into me saying something like the US dollar is near-worthless. Never said that...never said fiat currency is near-worthless.

All I am saying is, before people damn bitcoin with all these knee-jerk criticisms, take a step back and think about what's really backing the money in your wallet...
Mike, I was making an argument and extrapolated of what the pro-Bitcoin people say when they defend this scam and scheme. I didn't post what I did as a criticism of you or your post.

Anyone who says Bitcoin and those future resultant knock-offs will be the world's currency of choice by claiming the dollar is just worthless fiat scrip should be laughed off the stage, so to speak. Anyone who buys their b-shat and plays these hucksters' games with real money should have their head examined.

I put holes in the Wilklevoss boys Bitcoin argument and not what you were parroting.
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Old 01-04-2018, 11:58 AM   #60
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Understood.

I just think Bitcoin gets damned too much by critics while the US Dollar doesn't get damned enough...
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