Are you kidding. I'm up almost $3k since my last post.
Biggest crash in stock market history?
- Thread starter Dave Taylor
- Start date
THATmanMANNY
Well-Known Member
Held on as lon go as I could both weeks before some positions started turning red. More volatile ones. The blue chips held on.
glad I sold last week and glad I did today. Nice come back today but You just never know what Monday or next week will bring. Better to buy during a general upswing not one day or two.
glad I sold last week and glad I did today. Nice come back today but You just never know what Monday or next week will bring. Better to buy during a general upswing not one day or two.
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RobW
Well-Known Member
Things are making a turn it seems after the great sell off.
I can see that being an issue for families that need childcare- 1, it’s tough to get it, 2 it’s expensive
Dave Taylor
Rex kwan Do
Yea, looks just like tuesday lol. STFR.
Dave Taylor
Rex kwan Do
Lots of bleeding in tech. TSLA may be a good buy here at the bottom of it’s channel. I think we have a ways to go down yet though. If TSLA hits $495 I am buying. For all the other SPACS...well do you like gambling? GME may be the next TSLA 🤣
THATmanMANNY
Well-Known Member
still bullish on crypto/BTC. This may actually be an infliction point for BTC where tech crashes and BTC takes off even higher. I'm liking the slow comeback.
GSTim
Formerly M3Tim
Real question, how commerce in dollars is actually being transacted with cryto?
THATmanMANNY
Well-Known Member
Do you mean how much value is actually transacted by commerce. It’s only a few billion. It is dwarfed by the double digit trillions of credit card companies.
Dave Taylor
Rex kwan Do
I think he means how can you use crypto to buy shit?
THATmanMANNY
Well-Known Member
I’ll accept BTC or ETH for anything I sell here ha
not much but it definitely will come to a Starbucks near you
https://99bitcoins.com/bitcoin/who-accepts/
retail investors + business investors + growing merchants + limited coins ... that spells everyone is trying to get their hands on BTC as much and as quick as they can which means it’s going to keep rising in value
not much but it definitely will come to a Starbucks near you
https://99bitcoins.com/bitcoin/who-accepts/
retail investors + business investors + growing merchants + limited coins ... that spells everyone is trying to get their hands on BTC as much and as quick as they can which means it’s going to keep rising in value
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it isn't.
they will claim it is, because you can buy gift cards (ie visa/mc) in specific amounts and use them.
i think there is 1 hotel chain, and some peeps in vegas.
it is a bunch of speculators playing chicken.
How do you set a price? By the time you meet up to make the exchange BTC value has changed.
BTW, I think Bottle Republic has some type of Bitcoin ATM.
GSTim
Formerly M3Tim
Yes, this is what I meant, I should have said "How Much?". What I suspected is not much. Why do we think that will change?
GSTim
Formerly M3Tim
So then what is it's long term intrinsic value?
it has none other than the agreement to exchange it for goods/services - which nobody does.
paper money is kinda like that too, only it is somewhat stable because everyone uses it.
as opposed to gold or silver - which can be used for industrial or artistic purposes.
here is a little mind tease.
if someone purchased all of the bitcoin, what would it be worth?
The whole idea is that they can't make more after a certain point.
there are no barriers to starting a new digital currency - fire up a server, and start TimCoin
Useful for bike parts and beer.
GSTim
Formerly M3Tim
That's my point, for paper money everyone uses it. What is going to make people use crypto? I keep hearing that it's secure blah, blah. What happens when you forget your password or someone hacks it? There is no crypto FDIC.it has none other than the agreement to exchange it for goods/services - which nobody does.
paper money is kinda like that too, only it is somewhat stable because everyone uses it.
as opposed to gold or silver - which can be used for industrial or artistic purposes.
here is a little mind tease.
if someone purchased all of the bitcoin, what would it be worth?
The whole idea is that they can't make more after a certain point.
there are no barriers to starting a new digital currency - fire up a server, and start TimCoin
Useful for bike parts and beer.
i think that is solvable - giving up anonymity for a way to recover your keys.
combo of biometrics, personally known info, and token?
right now it is just speculators. hard to ignore because of the numbers - FOMO stuff.
THATmanMANNY
Well-Known Member
you guys are stuck on the now
No one uses gold to pay for anything either. The world has made it valuable over centuries. Unlike gold, BTC it is easy to store and easy enough to use. The world is going to make BTC valuable and with increasing concerns of inflation anyone in the world can hold BTC and use it to exchange anywhere (i.e. world currency without some central taking exchange rates). Also, in countries with non stable currency, BTC use is rising.
I'm not touting invest your life in it but a certain percentage is acceptable. Long term, there is more upside than down.
Re: it can drop tomorrow
Yea, but I'm not saying pay my salary in BTC. Contrary, you get paid in BTC and it doubles in value in 5 years.
Re: value
The actual dollar value of what BTC is worth is irrelevant. It will level off ONE DAY and be stable, probably not my lifetime even. It will be normal one day to say you can pay me 0.000001 BTC and understand if that is fair.
No one uses gold to pay for anything either. The world has made it valuable over centuries. Unlike gold, BTC it is easy to store and easy enough to use. The world is going to make BTC valuable and with increasing concerns of inflation anyone in the world can hold BTC and use it to exchange anywhere (i.e. world currency without some central taking exchange rates). Also, in countries with non stable currency, BTC use is rising.
I'm not touting invest your life in it but a certain percentage is acceptable. Long term, there is more upside than down.
Re: it can drop tomorrow
Yea, but I'm not saying pay my salary in BTC. Contrary, you get paid in BTC and it doubles in value in 5 years.
Re: value
The actual dollar value of what BTC is worth is irrelevant. It will level off ONE DAY and be stable, probably not my lifetime even. It will be normal one day to say you can pay me 0.000001 BTC and understand if that is fair.
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unless it goes to zero -
because there are no barriers to entry for other digital currency.
there will always be some exchange rate - cause a gallon of milk in one place is different than a gallon elsewhere.
(it may be reflected in the product price, rather than the payment ?)
a market where audit becomes difficult is unacceptable. so there will have to be a third party involved.
here is an interesting one - all the bitcoins have been mined - then the miners will need to take a piece of each transaction
to maintain the blockchain - it isn't going to be free. they'll do it on a percentage? or fixed? or combo? sounds like a credit card company.
GSTim
Formerly M3Tim
Yes, but gold is gold. I can still take gold to a dealer and get money for it. What is bitcoin? Why is bitcoin worth any more or less than any of the other (or future) cryptos, just because it was the first?