Page 1 of 2 12 LastLast
Results 1 to 10 of 14

Thread: What Do You Think Of Bitcoin?

  1. #1
    Senior Member gimmethesimplelife's Avatar
    Join Date
    Dec 2010
    Posts
    5,986

    What Do You Think Of Bitcoin?

    The other day I even saw a credit card on offer featuring 3.5% Bitcoin cash back! I don't really understand the concept to be honest but I have even started seeing Bitcoin ATM machines. I take it this concept is not going to go away any time soon - do you believe Bitcoin is an acceptable alternative to actual currency printed by a given country? Rob

  2. #2
    Senior Member bae's Avatar
    Join Date
    Jan 2011
    Location
    Offshore
    Posts
    9,816
    Tulips

  3. #3
    Senior Member Teacher Terry's Avatar
    Join Date
    Dec 2013
    Location
    Nevada
    Posts
    11,743
    9 years ago my son mined it in our basement. We invested 4K and made 50k and they made 100k. When we divorced we split the coins we had left and neither of us have cashed them out. We only made money because we got in early and my son knew what he was doing.

  4. #4
    Senior Member iris lilies's Avatar
    Join Date
    Mar 2013
    Location
    Always logged in
    Posts
    20,092
    I do not understand it and therefore do not invest in anything I donít understand.

    I could maybe throw $1000 at bitcoin just for fun if I felt like it when we get through all of our real estate renovation. But I doubt that I will because Iím just not that interested.

  5. #5
    Senior Member
    Join Date
    Mar 2014
    Posts
    816
    Quote Originally Posted by gimmethesimplelife View Post
    do you believe Bitcoin is an acceptable alternative to actual currency printed by a given country?
    Litecoin's price jumped 33% in a few hours based on a fake press release and fell just as quickly when the fake press release was debunked. Virtual currencies are rife with possibilities for hype-and-dump fraud. https://www.marketwatch.com/story/li...er-11631560795

    One of the smartest guys on Wall Street says "At the end of the day, if Bitcoin is successful governments will kill it." https://www.marketwatch.com/story/at...if-bitcoin-is-successful-theyll-kill-it-says-founder-of-worlds-largest-hedge-fund-dalio-11631715223

    And there are already rumblings that the SEC should regulate Bitcoin and similar virtual currencies in a manner similar to highly speculative bonds.

  6. #6
    Senior Member catherine's Avatar
    Join Date
    Jan 2011
    Location
    Vermont
    Posts
    12,513
    Where's Xmac when we need him? Wasn't he totally into bitcoin a few years back?

    I'm with IL. I don't get it.
    "Do any human beings ever realize life while they live it--every, every minute?" Emily Webb, Our Town
    www.silententry.wordpress.com

  7. #7
    Senior Member gimmethesimplelife's Avatar
    Join Date
    Dec 2010
    Posts
    5,986
    Quote Originally Posted by bae View Post
    Tulips
    You mean like in Holland in the 1600's? Surprised I caught that? Rob

  8. #8
    Senior Member jp1's Avatar
    Join Date
    Dec 2010
    Location
    San Francisco
    Posts
    7,313
    Not interested. The whole thing is just based on the belief that they have value. And the electricity necessary is not something I care to be a part of. There are plenty of other things I can invest in to protect/grow my wealth.

  9. #9
    Senior Member
    Join Date
    Jun 2012
    Posts
    4,166
    Quote Originally Posted by gimmethesimplelife View Post
    You mean like in Holland in the 1600's? Surprised I caught that? Rob
    Pretty sure that is exactly what he meant.
    Quote Originally Posted by jp1 View Post
    Not interested. The whole thing is just based on the belief that they have value.
    That part is not any different then the US dollar, since it was removed from the gold standard and is based on trust alone.
    That said, they are now part of the tax code (check your last years tax form).
    And I remember the Xmac discussions, LOL.

  10. #10
    Senior Member Teacher Terry's Avatar
    Join Date
    Dec 2013
    Location
    Nevada
    Posts
    11,743
    My son had to hire a cpa that specializes in crypto currency’s.

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •