Gloves | 11,790 Administrator · Posted April 22, 2021 Share Posted April 22, 2021 14 minutes ago, Bearcat-Doug said: It's dipped far enough, you can stop buying now. Buy the dip with me! 1 Link to comment Share on other sites More sharing options...
Bearcat-Doug | 5,105 Posted April 22, 2021 Share Posted April 22, 2021 8 minutes ago, Gloves said: Buy the dip with me! Okay, since you asked and all. Link to comment Share on other sites More sharing options...
Bearcat-Doug | 5,105 Posted April 23, 2021 Share Posted April 23, 2021 The price charts aren't looking too good right now... Link to comment Share on other sites More sharing options...
ThePhleo | 2,185 Posted April 23, 2021 Share Posted April 23, 2021 >_> I guess now is my chance to buy in. ... too bad all my money is stuck in Nintendo tapes. Link to comment Share on other sites More sharing options...
Gloves | 11,790 Administrator · Posted April 23, 2021 Share Posted April 23, 2021 1 minute ago, ThePhleo said: >_> I guess now is my chance to buy in. ... too bad all my money is stuck in Nintendo tapes. Same, honestly. Link to comment Share on other sites More sharing options...
Bearcat-Doug | 5,105 Posted April 23, 2021 Share Posted April 23, 2021 7 hours ago, Gloves said: Same, honestly. I would have bought more, but all of my money was already in bitcoin. Link to comment Share on other sites More sharing options...
Gloves | 11,790 Administrator · Posted April 23, 2021 Share Posted April 23, 2021 I just wanna make sure it's clear, I bought all this bitcoin because you all made me do it, and now I'm down like 40 bucks. The people responsible will soon be held to blame and punished. 3 Link to comment Share on other sites More sharing options...
ThePhleo | 2,185 Posted April 23, 2021 Share Posted April 23, 2021 10 minutes ago, Gloves said: I just wanna make sure it's clear, I bought all this bitcoin because you all made me do it, and now I'm down like 40 bucks. The people responsible will soon be held to blame and punished. Don’t look at me...I just doubled down on Doge... 1 Link to comment Share on other sites More sharing options...
Gloves | 11,790 Administrator · Posted April 23, 2021 Share Posted April 23, 2021 15 minutes ago, ThePhleo said: Don’t look at me...I just doubled down on Doge... Link to comment Share on other sites More sharing options...
dvertov | 207 Posted April 23, 2021 Share Posted April 23, 2021 (edited) I bought my first crypto two days ago and I've already lost 20% of my investment. I don't know, folks. That's literally an entire dollar just gone. Come on DOGE you gotta turn it around baby, I just want out of this with my entire $5 back Edit: I’m kidding, it’s fine. I just bought this so I could bug my crypto friends with texts like “Much loss. Very ouch.” The jokes are worth $5 to me. Edited April 23, 2021 by dvertov 1 Link to comment Share on other sites More sharing options...
Code Monkey | 2,011 Posted April 23, 2021 Share Posted April 23, 2021 3 hours ago, ThePhleo said: Don’t look at me...I just doubled down on Doge... Don't buy Dogecoin, it's a joke coin. Its purpose is just to tip people online, it doesn't really have any technical purpose, unlike the others. It's going to die out once the hilarity of it gets realized. Buy something that's actually useful like Filecoin, Siacoin or TRX. Link to comment Share on other sites More sharing options...
Hammerfestus | 3,852 Posted April 23, 2021 Share Posted April 23, 2021 Link to comment Share on other sites More sharing options...
ThePhleo | 2,185 Posted April 23, 2021 Share Posted April 23, 2021 6 hours ago, Code Monkey said: Don't buy Dogecoin, it's a joke coin. Its purpose is just to tip people online, it doesn't really have any technical purpose, unlike the others. It's going to die out once the hilarity of it gets realized. Buy something that's actually useful like Filecoin, Siacoin or TRX. As long as wealthy insane idiots like Elon Musk support it, there’s money to be made if you ride the tide with the memes. Im playing with house money right now too. $1400ish is now $900ish but I’m confident that a single tweet by “papa Elon” will give me my profits back. Honestly, it’ll take a lot more to convince me that any digital coin is money. The stuff is so volatile that people got used to losing 40% of their wealth overnight...that isn’t money, that’s a casino...utility be damned. Link to comment Share on other sites More sharing options...
Code Monkey | 2,011 Posted April 23, 2021 Share Posted April 23, 2021 12 minutes ago, ThePhleo said: As long as wealthy insane idiots like Elon Musk support it, there’s money to be made if you ride the tide with the memes. Im playing with house money right now too. $1400ish is now $900ish but I’m confident that a single tweet by “papa Elon” will give me my profits back. Honestly, it’ll take a lot more to convince me that any digital coin is money. The stuff is so volatile that people got used to losing 40% of their wealth overnight...that isn’t money, that’s a casino...utility be damned. It's no different than government regulated currency, a $20 bill is only worth $20 because they tell you it is. Today it might buy 10 loaves of bread, tomorrow it might buy 8. And only 3% of that currency is physical now anyway so that's pretty much a digital currency already. Link to comment Share on other sites More sharing options...
ThePhleo | 2,185 Posted April 24, 2021 Share Posted April 24, 2021 (edited) 13 minutes ago, Code Monkey said: It's no different than government regulated currency, a $20 bill is only worth $20 because they tell you it is. Today it might buy 10 loaves of bread, tomorrow it might buy 8. And only 3% of that currency is physical now anyway so that's pretty much a digital currency already. On paper that’s true, but the real world tells me different. Prices don’t fluctuate double digit percentages in a single day, and when they rarely do it’s isolated to a single commodity. My $20 will buy a 10 loafs of bread today, tomorrow, and 6 months from now....in about two years it will buy me 9....but if yeast skyrockets then I’ll switch to pita for a couple months until the supply chain is fixed. Edited April 24, 2021 by ThePhleo Link to comment Share on other sites More sharing options...
Code Monkey | 2,011 Posted April 24, 2021 Share Posted April 24, 2021 27 minutes ago, ThePhleo said: On paper that’s true, but the real world tells me different. Prices don’t fluctuate double digit percentages in a single day, and when they rarely do it’s isolated to a single commodity. My $20 will buy a 10 loafs of bread today, tomorrow, and 6 months from now....in about two years it will buy me 9....but if yeast skyrockets then I’ll switch to pita for a couple months until the supply chain is fixed. Government regulated currency has been so bad for some countries that you had to pre-pay your restaurant meals because the price would fluctuate between your order and your bill. Venezuela's inflation situation was so bad that it hit 200,000% annually so your $20 today would literally be worth nothing tomorrow. So no, your $20 will not buy the same quantity of bread as it did yesterday. Link to comment Share on other sites More sharing options...
ThePhleo | 2,185 Posted April 24, 2021 Share Posted April 24, 2021 1 minute ago, Code Monkey said: Government regulated currency has been so bad for some countries that you had to pre-pay your restaurant meals because the price would fluctuate between your order and your bill. Venezuela's inflation situation was so bad that it hit 200,000% annually so your $20 today would literally be worth nothing tomorrow. So no, your $20 will not buy the same quantity of bread as it did yesterday. If America goes through problems like that I think we have worst things going on than worrying about bread. If you use an argument saying crypto is good for economies outside of America then we’re stunting their potential growth with the sheer might of our dollar/euro/yuan...Afterall if they can use crypto then they can use the dollar/euro/yuan. Link to comment Share on other sites More sharing options...
Bearcat-Doug | 5,105 Posted April 24, 2021 Share Posted April 24, 2021 On 4/23/2021 at 10:01 AM, Gloves said: I just wanna make sure it's clear, I bought all this bitcoin because you all made me do it, and now I'm down like 40 bucks. The people responsible will soon be held to blame and punished. I don't even want to think about how much mine went down over last weekend. I'm still up over 300% overall, so there's that. Link to comment Share on other sites More sharing options...
Gloves | 11,790 Administrator · Posted April 24, 2021 Share Posted April 24, 2021 1 minute ago, Bearcat-Doug said: I don't even want to think about how much mine went down over last weekend. I'm still up over 300% overall, so there's that. It's at the point honestly where I I don't see it being like, potentially life altering or anything. I'd have to start basically investing fully in it, and hope for another random 10x increase way later. I can probably put like 3k a month into it, but it still feels like a bit of a gamble. A 10x increase right this instant wouldn't really do much for me. Link to comment Share on other sites More sharing options...
Gloves | 11,790 Administrator · Posted April 24, 2021 Share Posted April 24, 2021 I just have a hard time envisioning a future where bitcoin is THE currency. I get why it should be, I've done that research. And maybe one day it will be, but I'm not sure we'll see it in our lifetime. Look at how many things get held up by old dudes, tradition, religion, the list goes on. If I could feel confident in it becoming THE currency, I'd be all in right now. 1 Link to comment Share on other sites More sharing options...
Bearcat-Doug | 5,105 Posted April 24, 2021 Share Posted April 24, 2021 1 minute ago, Gloves said: It's at the point honestly where I I don't see it being like, potentially life altering or anything. I'd have to start basically investing fully in it, and hope for another random 10x increase way later. I can probably put like 3k a month into it, but it still feels like a bit of a gamble. A 10x increase right this instant wouldn't really do much for me. I'm lucky that I bought as much as I did just under $15k. It's tough to feel like you're making much progress when it takes over $500 just to buy 0.01 bitcoin. Link to comment Share on other sites More sharing options...
Bearcat-Doug | 5,105 Posted April 24, 2021 Share Posted April 24, 2021 6 minutes ago, Gloves said: I just have a hard time envisioning a future where bitcoin is THE currency. I get why it should be, I've done that research. And maybe one day it will be, but I'm not sure we'll see it in our lifetime. Look at how many things get held up by old dudes, tradition, religion, the list goes on. If I could feel confident in it becoming THE currency, I'd be all in right now. I went all in based on my bank only paying 0.01% interest on savings. I'm satisfied as long as it simply becomes a hedge against inflation. Anything it does beyond that is a bonus. Link to comment Share on other sites More sharing options...
Gloves | 11,790 Administrator · Posted April 24, 2021 Share Posted April 24, 2021 5 minutes ago, Bearcat-Doug said: I went all in based on my bank only paying 0.01% interest on savings. I'm satisfied as long as it simply becomes a hedge against inflation. Anything it does beyond that is a bonus. I have all my funds in a robo investor. Average I get around 7% return; lately it's been more like 13%. Fluctuates though, obviously. Link to comment Share on other sites More sharing options...
phart010 | 1,707 Posted April 25, 2021 Author Share Posted April 25, 2021 2 hours ago, Gloves said: I just have a hard time envisioning a future where bitcoin is THE currency. I get why it should be, I've done that research. And maybe one day it will be, but I'm not sure we'll see it in our lifetime. Look at how many things get held up by old dudes, tradition, religion, the list goes on. If I could feel confident in it becoming THE currency, I'd be all in right now. Yea just wait until a major currency starts to fail like Euro, USD, Yuan etc and you’ll see bitcoin take all the blame. Then governments will fix the problem by putting out their own version of cryptocurrencies that basically copy all of the best features of bitcoin. Then they’ll outlaw bitcoin and they’ll start going after a few high profile bitcoin people to make an example out of them. 1 Link to comment Share on other sites More sharing options...
DoctorEncore | 3,691 Posted April 26, 2021 Share Posted April 26, 2021 On 4/24/2021 at 7:35 PM, Gloves said: I just have a hard time envisioning a future where bitcoin is THE currency. I get why it should be, I've done that research. And maybe one day it will be, but I'm not sure we'll see it in our lifetime. Look at how many things get held up by old dudes, tradition, religion, the list goes on. If I could feel confident in it becoming THE currency, I'd be all in right now. It definitely will not become THE currency. I suspect it will take the place of gold and act as a place to park your money for millenials and younger. It's safely stored away, but easily accessible and will probably steadily increase with time. 23 hours ago, phart010 said: Yea just wait until a major currency starts to fail like Euro, USD, Yuan etc and you’ll see bitcoin take all the blame. Then governments will fix the problem by putting out their own version of cryptocurrencies that basically copy all of the best features of bitcoin. Then they’ll outlaw bitcoin and they’ll start going after a few high profile bitcoin people to make an example out of them. Yeah, every country is developing their own digital currency and they will mostly quash BTC and other decentralized currencies. Still, I don't think the US will straight up ban it because too many big businesses have a stake now and they control the government. Instead, the government will heavily regulate it so only those big businesses can profit it from it as we are seeing happen around the world right now. 1 Link to comment Share on other sites More sharing options...
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