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rated:
Today, I see that Bitcoin is down to it's lowest value in months.
Right now, I'm wondering if it would be the right time to buy as much Bitcoin as possible.
Or, should I wait to see if it goes lower.
Last time I looked it was over $4,500.
Let me know if I should invest every last penny in Bitcoin.

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No, they have communism, Skynet runs everything. If anything they use that Coltan material that makes Terminators bullet... (more)

kamalktk (Sep. 15, 2017 @ 3:13p) |

The sooner this bubble bursts the better IMO. Fewer people getting scammed by a pyramid scheme. And less clutter on the ... (more)

brettdoyle (Sep. 15, 2017 @ 4:02p) |

I found the mother lode
Beanie Babies

snnistle (Sep. 15, 2017 @ 6:21p) |

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rated:
Investing in bitcoin is not a valid investment. Fools Gold at best .. Quicksand is more realistic and a better investment.

Better to give that money to your favorite charity.  At least you know you may get a tax deduction.

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Yes, take out a second mortgage, cash out all life insurance, pawn your wedding rings.

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SummerSoFar said:   Yes, take out a second mortgage, cash out all life insurance, pawn your wedding rings.
Great idea.
Or, maybe I will cash out my retirement accounts.
Then, maybe a second mortgage.
Can you imagine how much money I will make.
Hopefully, I can double my money in a month.
And, then I will retire.
 

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snnistle said:   Today, I see that Bitcoin is down to it's lowest value in months.
Right now, I'm wondering if it would be the right time to buy as much Bitcoin as possible.
Or, should I wait to see if it goes lower.
Last time I looked it was over $4,500.
Let me know if I should invest every last penny in Bitcoin.

  By months... you mean A month? It's currently around 3300. It was lower than than that at the beginning of August. Don't get so excited about this kind of move when it's very typical for this asset.

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GodelianKnot said:   
snnistle said:   Today, I see that Bitcoin is down to it's lowest value in months.
Right now, I'm wondering if it would be the right time to buy as much Bitcoin as possible.
Or, should I wait to see if it goes lower.
Last time I looked it was over $4,500.
Let me know if I should invest every last penny in Bitcoin.

  By months... you mean A month? It's currently around 3300. It was lower than than that at the beginning of August. Don't get so excited about this kind of move when it's very typical for this asset.

  
Asset and cryptocurrency are never to go in the same sentence.

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Bitcoin is down because China just banned it. A lot of Chinese were using it to move money out of the country without fees.

Will it bounce back? No idea.

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forbin4040 said:   Bitcoin is down because China just banned it. A lot of Chinese were using it to move money out of the country without fees.

Will it bounce back? No idea.

  
Not to worry, North Korea still loves it.

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We've seen similar movement from China in the past, it doesn't matter in the long term. Just how long you decide to wait before buying is really up to your judgement. I've been mining LTC since 2013 and seen all kinds of movement over the years but I am still here.

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My financial adviser has never done me wrong before. So I'm sticking with "Always invest on black".

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Bitcoin is going to $0 as it has no intrinsic value and there are thousands of crypto currencies. A lot of fools think Bitcoin is going to make them a millionaire and they are geniuses for buying it. They'll end up being embarrassed pyramid scheme victims.

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https://www.cryptocoinsnews.com/bitcoin-price-falls-to-3450-but-analysts-are-not-worried/

"Still, analysts are not worried. Prominent bitcoin investor and researcher WhalePanda...."

Prominent bitcoin investor and researcher WhalePanda...

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We really need to see if we can have every thread on the first few pages be about bitcoin

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If WhalePanda is not worried, either am I.

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kamalktk said:   We really need to see if we can have every thread on the first few pages be about bitcoin
My ridiculous thoughts exatly. Look at the first letter of each sentence of my oroginal and follow up post. Sorry, but I had to do it. Tired of the Bitcoin madness. Congrats to anyone who got lucky and made a fortune, but Im afraid the adventure is over. 

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snnistle said:   
kamalktk said:   We really need to see if we can have every thread on the first few pages be about bitcoin
My ridiculous thoughts exatly. Look at the first letter of each sentence of my oroginal and follow up post. Sorry, but I had to do it. Tires of the Bitcoin madness. Congrats to anyone who got lucky and made a fortune, but Im afraid the adventure is over. 

  
I can't give you green, but I took away the red

rated:
I need the FW hive-mind to weigh in here - I can't decide:

Bitcoin or Beanie Babies?  Which one is better as an early retirement vehicle?

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mikk1 said:   I need the FW hive-mind to weigh in here - I can't decide:

Bitcoin or Beanie Babies?  Which one is better as an early retirement vehicle?

  

Well that depends.  Is it the year 2010 or 1996? 

 

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snnistle said:   kamalktk said:   We really need to see if we can have every thread on the first few pages be about bitcoin
My ridiculous thoughts exatly. Look at the first letter of each sentence of my oroginal and follow up post. Sorry, but I had to do it. Tires of the Bitcoin madness. Congrats to anyone who got lucky and made a fortune, but Im afraid the adventure is over. 

You got me.

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brettdoyle said:   Bitcoin is going to $0 as it has no intrinsic value and there are thousands of crypto currencies. A lot of fools think Bitcoin is going to make them a millionaire and they are geniuses for buying it. They'll end up being embarrassed pyramid scheme victims.
  
Sounds a lot like the U.S. dollar.

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greling said:   
brettdoyle said:   Bitcoin is going to $0 as it has no intrinsic value and there are thousands of crypto currencies. A lot of fools think Bitcoin is going to make them a millionaire and they are geniuses for buying it. They'll end up being embarrassed pyramid scheme victims.
  
Sounds a lot like the U.S. dollar.

  
Sounds a lot like your mama. 

Thank you, thank you very much.

rated:
mikk1 said:   I need the FW hive-mind to weigh in here - I can't decide:

Bitcoin or Beanie Babies?  Which one is better as an early retirement vehicle?

Give it a few months and maybe you and I can swap some Bitcoin for Beanie Babies. They will both have the same value. (Insert poo emojie here.)

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Brilliant!  We'll create digital beanie babies!  Soccer moms will have to mine them, and we can offer a conversion scheme on the dark web!

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S**t coin

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greling said:   
brettdoyle said:   Bitcoin is going to $0 as it has no intrinsic value and there are thousands of crypto currencies. A lot of fools think Bitcoin is going to make them a millionaire and they are geniuses for buying it. They'll end up being embarrassed pyramid scheme victims.
  
Sounds a lot like the U.S. dollar.

  There is actually value there, but I have no time to go through the technology.  99.9% of those other crypto currencies I agree have no value.  Who's mining them/managing the blockchain?

Anyway, Bitcoin had a selling panic this morning.  It dropped below $3,000.  It's now about $3,800.  I have no idea if that was the low for this cycle, but I'm still hanging in there.  Bitcoin kind of behaves like a stock, but in an amplified way.  Getting in right now could be risky, but if you've been buying over the past few years, I think you can hold tight.  Anyway, just my opinion.

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This is one of the last chances to sell at the bubble inflated price. The news media has been pumping it up for months and attracting interest. Those who hold will be disappointed as more people figure out it is a pyramid scheme.

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brettdoyle said:   This is one of the last chances to sell at the bubble inflated price. The news media has been pumping it up for months and attracting interest. Those who hold will be disappointed as more people figure out it is a pyramid scheme.
  

How many years in a row now have you been saying that the bubble is about to burst?    3 years?  4?


 

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jerosen said:   
brettdoyle said:   This is one of the last chances to sell at the bubble inflated price. The news media has been pumping it up for months and attracting interest. Those who hold will be disappointed as more people figure out it is a pyramid scheme.
  

How many years in a row now have you been saying that the bubble is about to burst?    3 years?  4?


 

  It's going to $0 over the long run. Just because a bubble becomes a bigger bubble doesn't mean that bitcoin is a good investment or prove me wrong. People thought they were geniuses for buying dotcom stocks and had massive profits for years. This is a parabolic pyramid scheme. Could it go to $100,000 before it goes to $0? Sure I guess anything is possible... but is it probable? No. 

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brettdoyle said:   
jerosen said:   
brettdoyle said:   This is one of the last chances to sell at the bubble inflated price. The news media has been pumping it up for months and attracting interest. Those who hold will be disappointed as more people figure out it is a pyramid scheme.
  

How many years in a row now have you been saying that the bubble is about to burst?    3 years?  4?


 

  It's going to $0 over the long run. Just because a bubble becomes a bigger bubble doesn't mean that bitcoin is a good investment or prove me wrong. People thought they were geniuses for buying dotcom stocks and had massive profits for years. This is a parabolic pyramid scheme. Could it go to $100,000 before it goes to $0? Sure I guess anything is possible... but is it probable? No. 

  

Couldn't someone make the same argument about just about any asset class that is going up in value?

gold, the Euro, government bonds, stocks, rare paintings, any fiat currency... its all just a pyramid scheme.


I'm not saying bitcoin is a good investment.   I really don't know.    But its not a given that its going to crash to $0 any time soon if ever.       

 

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No because some of those assets you listed have intrinsic value and provide utility. Even if society values them at $0 they still have value(and of course for that reason society would never consider them worthless). Bitcoin is a bunch of worthless 0's and 1's.

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brettdoyle said:   No because some of those assets you listed have intrinsic value and provide utility. Even if society values them at $0 they still have value(and of course for that reason society would never consider them worthless). Bitcoin is a bunch of worthless 0's and 1's.
  
fiat currencies are all really no different than bitcoin.   
Whats the intrinsic utility value of gold?   $12 an ounce?   Whats the value when someone pulls in a asteroid full of $2 trillion in gold in a couple decades? 
Bonds are just promises.   
art is in the eye of the beholder.     An original Warhol is only special until people decide it isn't.
stocks may have value until the companies perish in a puff of smoke
All that stuff is only worth what its worth until your fiat currency crumbles.

Stuff is mostly just worth what people thinks its worth.
Money is only worth what its worth until it isn't.

You can claim any asset is doomed to collapse.
 

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Gold has intrinsic value because of its properties. It has heavy use in semiconductors and is a very malleable metal.

Fiat currencies all trend toward being worthless over time. Example: The US Dollar has lost 96% of its value in the last 100 years and there are thousands of worthless currencies over human history.

Bonds are just a promise to repay someone with fiat currencies in the future and thus they have the same problem.

Art has no intrinsic value unless you consider burning it as firewood utility.

Stocks have intrinsic value. The businesses behind them are holding real investment assets that create goods and services that provide utility.

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And after the nuclear holocaust when we're overrun by zombies you'll wish you'd invested in canned food and ammo.

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brettdoyle said:   Fiat currencies all trend toward being worthless over time. Example: The US Dollar has lost 96% of its value in the last 100 years and there are thousands of worthless currencies over human history.

 

  
You must know thats just the impact of inflation.     And inflation impacts everything.

 

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jerosen said:   And after the nuclear holocaust when we're overrun by zombies you'll wish you'd invested in canned food and ammo.
Skynet and the Terminators will get us first.

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kamalktk said:   
jerosen said:   And after the nuclear holocaust when we're overrun by zombies you'll wish you'd invested in canned food and ammo.
Skynet and the Terminators will get us first.

  

I'm sure our future robot overlords will be using a digital currency like Bitcoin.
 

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jerosen said:   kamalktk said:   
jerosen said:   And after the nuclear holocaust when we're overrun by zombies you'll wish you'd invested in canned food and ammo.
Skynet and the Terminators will get us first.

  

I'm sure our future robot overlords will be using a digital currency like Bitcoin.
 

No, they have communism, Skynet runs everything. If anything they use that Coltan material that makes Terminators bulletproof since it has intrinsic value.

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The sooner this bubble bursts the better IMO. Fewer people getting scammed by a pyramid scheme. And less clutter on the finance forum.

rated:
mikk1 said:   Brilliant!  We'll create digital beanie babies!  Soccer moms will have to mine them, and we can offer a conversion scheme on the dark web!
I found the mother lode
Beanie Babies

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