My personal belief is cryptocurrency is the biggest scam ever perpetrated on the world economy . Till someone can prove me different I will never touch it , Bitcoin could drop down to $2 and the most I would invest in it is $2 . I guess this is more of a rant , why would anybody buy something that isn't real ? Can I say hey Pete I have two bitcoins worth $186,000 , will you give me 15 acres of land for it ? Never going to happen . Rant over
Cryptocurrency reality
- Thread starter scoot
- Start date
You should invest in something tangible. Beanie Babies, Pet Rocks, belly button lint.
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Multiple multi-millionaires who gained their wealth by cryptocurrency would disagree with you.
Would you buy a 1oz American Gold Eagle for $3k?
Zee09
$200 Site Donor 2023
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I always said the same thing but I like trading penny stocks and may start flipping crypto on Robinhood..
Entertainment only of couse..
Sifting for daily burger money
No doubt, but I believe there are multi-millionaires before they went into cryptocurrency . A guy with a net worth of 10K did not take half of it and put it into Bitcoin
No but I did at 1,870
Me too!
I imagine most have been sure to diversify! They know its been making money on nothing.
I too wish I had gambled earlier on them, but now I think its too late, and the crazy valuation probably has lots of smart people working out a way to hack it...
Everyone thinks a Ponzi scheme is wonderful - until it isn't.
No they were not. I know of people who bought hundreds of BTC in mid-early 2010's. They weren't poor but they weren't multi-millionaires either.
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If you bought 100 Bitcoin at $0.06 each it will be currently worth 8.4 million. If you sold it when it hit an all-time high you'd almost have $11 million. The math is not that hard.
took some mad $ and bought at $4k 
yrs ago
don't be jealous
yrs agodon't be jealous
Why? You can't do anything with it. It just sits in your safe collecting dust hoping to outpace inflation.
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OP you do realize that our money is fiat currency...
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We have the might of the US military behind it.
More like the productive capacity of the US Economy and our legal structure (private property rights).
The fact is people have made money where only the belief in something made it seem to have value, when it is simply data in a database somewhere on someone's computer. People have starved to death and become obese based on their belief. You can deny it all you want, but facts are what they are.
Try to imagine why anyone would want money that has these features:
-a chain of custody (no one but you can spend it)
-has inflation resistance (not 0 inflation)
-cannot be counterfeited
-requires zero permission to send to anyone, anywhere
