Yup and Bitcoin is at 35k compared to the 50+ - 60k last week
Bitcoin / Cryptocurrency
- Thread starter Defilade
- Start date
Yup and Bitcoin is at 35k compared to the 50+ - 60k last week
holdover
.475 A&M Magnum
I sold off my crypto right before Elon musk went on SNL . The guy is a fucking charlatan. the price to earnings ratio on Telsa is something like 1000 to 1 . People kept telling me how great it is , but I look at the earnings and they aren't selling anything. And I think their cars are like 80K. Anyways I was lucky to get out when I did. It Bitcoin crashes to 5K again I might gamble , but Crypto scares me because I dont understand the value of it.
meketrefe
.450/400 Nitro Ex
The guys ego is as inflated as the Tesla brand and products themselves.
Tesla is a great example of a bubble within a bubble ready to pop any time.
I have a new slogan for them: "working in a sustainable future with unsustainable systems and economies"
spat
.700 Nitro Express
Crypto is a fiat currency like any other.
The real question is "why do you trust the US dollar ?"
Age
holdover
.475 A&M Magnum
Well my confidence in the dollar is dropping like bitcoin. which is why I bought cryptos to begin with.But the dollar been established for a long time. Once upon a time it backed by gold, and ever since it went off the gold standard the value has dropped .and now it looks like its going the way of Zimbabwe
Doc8404
.450/400 Nitro Ex
I held. And will hold.
I've sold and bought and sold and bought.. I keep missing the highs and lows ahhaha and losing out pretty bad..
But even losing I'm still up like $900 from my actual "real" money investment
No one does. The dollar is based on the full faith and credit of the US government. Bitcoin is based on the faith of hacker nerds who go on and on about "fiat currency" but otherwise display a remarkable ignorance of basic economics (case in point - they almost all support Bernie Sanders).
The Bitcoin craze reminds me of the dutch tulip madness from a couple hundred years ago.
Bitcoin is always at risk of government crackdowns. If the government declares Bitcoin illegal then what is everyone supposed to do? Can you get all your shopping needs fulfilled on the dark web?
Doc8404
.450/400 Nitro Ex
my sister watches it and texts me. Drives me nuts.
i am in for the long haul and could sell now for 600% return.
But I’m holding since I didnt sell when it was 1,000% return.
Yea I keep reminding myself it's a long game especially with what they have in the works. So im not where I was but I always get back in
Jmac00
.475 A&M Magnum
HAHA, Crypto currency is starting to piss of the IRS (which I believe is the point)
The Government and central bank is having a little trouble controlling the currency
www.theepochtimes.com
The Government and central bank is having a little trouble controlling the currency
US Wants to Force Reporting of Crypto Transfers Over $10,000 to the IRS
www.theepochtimes.com
holdover
.475 A&M Magnum
Yeah there's a flight out of the dollar , people looking for somewhere to put thier money, and the millennials are useing it as a bank , and banks dont like that.If people are looking for alternatives to crypto , it could be a bump for precious metals this fall
holdover
.475 A&M Magnum
The current Secretary of the Treasury, Janet Yellen, has floated the idea of taxing cryptocurrencies as much as 80%,
She is not alone, President Biden’s proposed tax increases would see capital gains taxes as high as 43%.
if the government has proved one thing over the last 300 years, it’s that if there is money to be made from taxing an asset, they will start taxing it.
Warning: Bitcoin & Cryptocurrency Are Napster and iTunes is Coming – Investment Watch (investmentwatchblog.com)
She is not alone, President Biden’s proposed tax increases would see capital gains taxes as high as 43%.
if the government has proved one thing over the last 300 years, it’s that if there is money to be made from taxing an asset, they will start taxing it.
Warning: Bitcoin & Cryptocurrency Are Napster and iTunes is Coming – Investment Watch (investmentwatchblog.com)
Yep! Of course .Gov has to get it's paws involved!
holdover
.475 A&M Magnum
You got to think about how safe cryptos are when one man ( Musk) can make or break a market.
holdover
.475 A&M Magnum
You can bet they are going to pound it this week too. I feel bad for all the people who are holding it
If these were stocks it would be a great buying opportunity, but they're not.
Phazer
.450/400 Nitro Ex
On what exchanges do most here trade crypto currencies?
holdover
.475 A&M Magnum
I used coinbase
Carlos Hathcock
.450/400 Nitro Ex
Gordon Gekko: The point is, ladies and gentlemen, that greed, for lack of a better word, is good. Greed is right. Greed works. Greed clarifies, cuts through, and captures the essence of the evolutionary spirit. Greed, in all of its forms, greed for life, for money, for love, knowledge, has marked the upward surge in mankind and greed, you mark my words, will not only save Teldar paper, but that other malfunctioning corporation called the USA. Thank you very much.
And if our govt outlaws bitcoin to support the digital dollar or the libra - what happens to your investment in bitcoin?
holdover
.475 A&M Magnum
And that is exactly what is going to happen in time.
