OT: Crypto, Stocks, Bonds, Real Estate, Investments, IRAs & Finances, etc.

[CharlesOakley]

The Bitcoin Reserve Fraud BS Act? Fck that!!!

If you want to go down in flames with this BS fraud Ponzi scheme, that’s on you. Don’t drag us non-crypto taxpayers - who will be left holding YOUR debt - into it.

The actual ponzi scheme is the dollar which has lost 97% of it's purchasing power since we went off the gold standard. During covid the Fed increased the dollar supply by 40% in just two years.

BTC has gone from $0 to $100,000 in 15 years with no marketing, no management team, no pre-sales, and built the strongest computer network on the planet in the process. Bitcoin is savings account in cyberspace with the strongest security layer ever created, that does not have a governing authority, that cannot be inflated, and that can be moved across the world in minutes for a few cents.

Transactions on the Bitcoin network cannot be censored, seized, or reversed, making it a tool for financial freedom in restrictive environments or under oppressive regimes. Bitcoin provides banking services to the unbanked by enabling anyone with an internet connection to participate in the global financial system, irrespective of location or socioeconomic status. The blockchain is a public ledger that ensures transparency and security, fostering trust without requiring a central authority. Bitcoin’s capped supply of 21 million coins makes it a hedge against inflation and currency devaluation.

I would recommend you spend 10 hours studying bitcoin before dismissing it. I thought it was a ponzi scheme too for many years until I finally looked into it.

[HarthorneWingo]

The Bitcoin Reserve Fraud BS Act? Fck that!!!

If you want to go down in flames with this BS fraud Ponzi scheme, that’s on you. Don’t drag us non-crypto taxpayers - who will be left holding YOUR debt - into it.

The actual ponzi scheme is the dollar which has lost 97% of it's purchasing power since we went off the gold standard. During covid the Fed increased the dollar supply by 40% in just two years.

BTC has gone from $0 to $100,000 in 15 years with no marketing, no management team, no pre-sales, and built the strongest computer network on the planet in the process. Bitcoin is savings account in cyberspace with the strongest security layer ever created, that does not have a governing authority, that cannot be inflated, and that can be moved across the world in minutes for a few cents.

Transactions on the Bitcoin network cannot be censored, seized, or reversed, making it a tool for financial freedom in restrictive environments or under oppressive regimes. Bitcoin provides banking services to the unbanked by enabling anyone with an internet connection to participate in the global financial system, irrespective of location or socioeconomic status. The blockchain is a public ledger that ensures transparency and security, fostering trust without requiring a central authority. Bitcoin’s capped supply of 21 million coins makes it a hedge against inflation and currency devaluation.

I would recommend you spend 10 hours studying bitcoin before dismissing it. I thought it was a ponzi scheme too for many years until I finally looked into it.

I’ll humor you for a moment and ask you this, what are you investing in? I bet you can’t even explain it in simple mole terms like when you invest in a company or commodity on Wall Street.

I have spent more time looking into this non-regulated bullshyt than I care to. Just don’t come looking for a government bailout when it crashes. Otherwise IDGAF what you folks do with your money.

[CharlesOakley]

Money represents stored work - it acts as a medium of exchange for the value you produce through your labor. When you earn money, you effectively store the effort and time you've spent working, which can later be exchanged for goods or services. This stored value relies on the stability of money's purchasing power.

Inflation undermines this principle by eroding the purchasing power of money over time. As the money supply increases disproportionately to economic output, the value of each unit of currency decreases. This devaluation acts as a hidden tax: the same amount of money buys fewer goods and services than before. People holding cash or savings lose purchasing power without actively spending or investing, making inflation a form of wealth transfer to those who control money creation, such as central banks and governments.

Perhaps the best analog is the early internet. I don't know how technical you are but TCP/IP is the backbone of internet communication, enabling reliable and universal data transmission. Similarly, Bitcoin's blockchain protocol is a foundation for decentralized digital value exchange. Both rely on widespread adoption for success. TCP/IP succeeded as a universal protocol because of its open, interoperable nature. Bitcoin shares this ethos, creating a distributed ledger that grows more valuable as more people use it. Investing in Bitcoin represents a bet on a promising foundational technology with parallels to the early internet's transformative infrastructure.

If I were to invest in Apple stock as an example, I'm betting that the current price is less than the future price. This is no different than BTC except that BTC has better returns than any asset on the planet and it acts as a hedge against inflation. If BTC crashes, I won't expect anything from the government, I'll buy more.

[CharlesOakley]

Read on Twitter

Michael Saylor lays out a brilliant plan for creating a bitcoin reserve by converting the gold reserve. No additional dollars created and a huge win for the US and the dollar while hurting our enemies.

[Garbagelo]

Unless you want to never sell it for 100 years, Gold is a terrible investment

It has immensely underperfomed SPY etf and obviously Bitcoin since their inception

I would even suggest Real Estate over it

Gold is a good trading instrument, especially GLD etf

[CharlesOakley]

Unless you want to never sell it for 100 years, Gold is a terrible investment

It has immensely underperfomed SPY etf and obviously Bitcoin since their inception

I would even suggest Real Estate over it

Gold is a good trading instrument, especially GLD etf

Gold bugs need impending doom to feel validated.

[NYKinMIA]

The Bitcoin Reserve Fraud BS Act? Fck that!!!

If you want to go down in flames with this BS fraud Ponzi scheme, that’s on you. Don’t drag us non-crypto taxpayers - who will be left holding YOUR debt - into it.

[Knicks Byke]

Money represents stored work - it acts as a medium of exchange for the value you produce through your labor. When you earn money, you effectively store the effort and time you've spent working, which can later be exchanged for goods or services. This stored value relies on the stability of money's purchasing power.

Inflation undermines this principle by eroding the purchasing power of money over time. As the money supply increases disproportionately to economic output, the value of each unit of currency decreases. This devaluation acts as a hidden tax: the same amount of money buys fewer goods and services than before. People holding cash or savings lose purchasing power without actively spending or investing, making inflation a form of wealth transfer to those who control money creation, such as central banks and governments.

Perhaps the best analog is the early internet. I don't know how technical you are but TCP/IP is the backbone of internet communication, enabling reliable and universal data transmission. Similarly, Bitcoin's blockchain protocol is a foundation for decentralized digital value exchange. Both rely on widespread adoption for success. TCP/IP succeeded as a universal protocol because of its open, interoperable nature. Bitcoin shares this ethos, creating a distributed ledger that grows more valuable as more people use it. Investing in Bitcoin represents a bet on a promising foundational technology with parallels to the early internet's transformative infrastructure.

If I were to invest in Apple stock as an example, I'm betting that the current price is less than the future price. This is no different than BTC except that BTC has better returns than any asset on the planet and it acts as a hedge against inflation. If BTC crashes, I won't expect anything from the government, I'll buy more.

xrp is the standard for payments, bitcoin as the test.

[Stannis]

I’ll humor you for a moment and ask you this, what are you investing in? I bet you can’t even explain it in simple mole terms like when you invest in a company or commodity on Wall Street.

I have spent more time looking into this non-regulated bullshyt than I care to. Just don’t come looking for a government bailout when it crashes. Otherwise IDGAF what you folks do with your money.

HW, you aren't totally wrong. But what you are saying can apply to basically every asset / currency in the world.

When it comes down to it, yes, a currency is only as valuable as the people make it out to be. It's only valuable if the people believe in it.

We believe in the US Dollar because we know it's basically the global currency for trading; and the USA will bomb other countries to an oblivion if they go against the USD. And/or sanction you and make your people suffer.

Stocks? What happens if the likes of Warren Buffet and other 0.1%ers sell their holdings. Guess who's 401k just got cut in half?

The only true safety net is diversification. Whether people like to admit it or not, Bitcoin is a valid asset.

Sure there's **** coins out there, but we literally have a stock market with so many phony tickers.

[HarthorneWingo]

The Bitcoin Reserve Fraud BS Act? Fck that!!!

If you want to go down in flames with this BS fraud Ponzi scheme, that’s on you. Don’t drag us non-crypto taxpayers - who will be left holding YOUR debt - into it.

You guys want your Diddy parties, go ahead. I'm not into that shyt.

[RHODEY]

The Bitcoin Reserve Fraud BS Act? Fck that!!!

If you want to go down in flames with this BS fraud Ponzi scheme, that’s on you. Don’t drag us non-crypto taxpayers - who will be left holding YOUR debt - into it.

The actual ponzi scheme is the dollar which has lost 97% of it's purchasing power since we went off the gold standard. During covid the Fed increased the dollar supply by 40% in just two years.

BTC has gone from $0 to $100,000 in 15 years with no marketing, no management team, no pre-sales, and built the strongest computer network on the planet in the process. Bitcoin is savings account in cyberspace with the strongest security layer ever created, that does not have a governing authority, that cannot be inflated, and that can be moved across the world in minutes for a few cents.

Transactions on the Bitcoin network cannot be censored, seized, or reversed, making it a tool for financial freedom in restrictive environments or under oppressive regimes. Bitcoin provides banking services to the unbanked by enabling anyone with an internet connection to participate in the global financial system, irrespective of location or socioeconomic status. The blockchain is a public ledger that ensures transparency and security, fostering trust without requiring a central authority. Bitcoin’s capped supply of 21 million coins makes it a hedge against inflation and currency devaluation.

I would recommend you spend 10 hours studying bitcoin before dismissing it. I thought it was a ponzi scheme too for many years until I finally looked into it.

I’ll humor you for a moment and ask you this, what are you investing in? I bet you can’t even explain it in simple mole terms like when you invest in a company or commodity on Wall Street.

I have spent more time looking into this non-regulated bullshyt than I care to. Just don’t come looking for a government bailout when it crashes. Otherwise IDGAF what you folks do with your money.

I understand your frustration. You missed out on major profits because you refuse to embrace the new. But its not too late Wingo...you can still join the DIddy Party!!

[NYKinMIA]

The Bitcoin Reserve Fraud BS Act? Fck that!!!

If you want to go down in flames with this BS fraud Ponzi scheme, that’s on you. Don’t drag us non-crypto taxpayers - who will be left holding YOUR debt - into it.

You guys want your Diddy parties, go ahead. I'm not into that shyt.

look man, if it's not for you...cool. I'm done trying to convince anyone about anything.

but telling us you've researched and still don't understand is a little disappointing.

I consider you one of the more intelligent people on this board. how I came to that conclusion now eludes me

[Capn'O]

The actual ponzi scheme is the dollar which has lost 97% of it's purchasing power since we went off the gold standard. During covid the Fed increased the dollar supply by 40% in just two years.

BTC has gone from $0 to $100,000 in 15 years with no marketing, no management team, no pre-sales, and built the strongest computer network on the planet in the process. Bitcoin is savings account in cyberspace with the strongest security layer ever created, that does not have a governing authority, that cannot be inflated, and that can be moved across the world in minutes for a few cents.

Transactions on the Bitcoin network cannot be censored, seized, or reversed, making it a tool for financial freedom in restrictive environments or under oppressive regimes. Bitcoin provides banking services to the unbanked by enabling anyone with an internet connection to participate in the global financial system, irrespective of location or socioeconomic status. The blockchain is a public ledger that ensures transparency and security, fostering trust without requiring a central authority. Bitcoin’s capped supply of 21 million coins makes it a hedge against inflation and currency devaluation.

I would recommend you spend 10 hours studying bitcoin before dismissing it. I thought it was a ponzi scheme too for many years until I finally looked into it.

I’ll humor you for a moment and ask you this, what are you investing in? I bet you can’t even explain it in simple mole terms like when you invest in a company or commodity on Wall Street.

I have spent more time looking into this non-regulated bullshyt than I care to. Just don’t come looking for a government bailout when it crashes. Otherwise IDGAF what you folks do with your money.

I understand your frustration. You missed out on major profits because you refuse to embrace the new. But its not too late Wingo...you can still join the DIddy Party!!

I first heard about bitcoin at $600ish and couldn't figure out how to safely buy it.

I'm damn sure bitter. But it does seem to be gaining legitimacy, not losing it. I'm not sure that I believe in the story but enough people do now.

[HarthorneWingo]

I’ll humor you for a moment and ask you this, what are you investing in? I bet you can’t even explain it in simple mole terms like when you invest in a company or commodity on Wall Street.

I have spent more time looking into this non-regulated bullshyt than I care to. Just don’t come looking for a government bailout when it crashes. Otherwise IDGAF what you folks do with your money.

I understand your frustration. You missed out on major profits because you refuse to embrace the new. But its not too late Wingo...you can still join the DIddy Party!!

I first heard about bitcoin at $600ish and couldn't figure out how to safely buy it.

I'm damn sure bitter. But it does seem to be gaining legitimacy, not losing it. I'm not sure that I believe in the story but enough people do now.

That’s because of the Harris campaign was talking it up leading up to the election in order to try and siphon off some voters. And there are some sports franchises promoting it now but that’s for advertising purposes. Maybe their owners are invested in it. The whole thing is a big scam.

[Knicks Byke]

I understand your frustration. You missed out on major profits because you refuse to embrace the new. But its not too late Wingo...you can still join the DIddy Party!!

I first heard about bitcoin at $600ish and couldn't figure out how to safely buy it.

I'm damn sure bitter. But it does seem to be gaining legitimacy, not losing it. I'm not sure that I believe in the story but enough people do now.

That’s because of the Harris campaign was talking it up leading up to the election in order to try and siphon off some voters. And there are some sports franchises promoting it now but that’s for advertising purposes. Maybe their owners are invested in it. The whole thing is a big scam.

maybe not bitcoin but crypto will reshape the financial system. payments are too slow right now and systems are too old. blockchain will speed things up.

[RHODEY]

I first heard about bitcoin at $600ish and couldn't figure out how to safely buy it.

I'm damn sure bitter. But it does seem to be gaining legitimacy, not losing it. I'm not sure that I believe in the story but enough people do now.

That’s because of the Harris campaign was talking it up leading up to the election in order to try and siphon off some voters. And there are some sports franchises promoting it now but that’s for advertising purposes. Maybe their owners are invested in it. The whole thing is a big scam.

maybe not bitcoin but crypto will reshape the financial system. payments are too slow right now and systems are too old. blockchain will speed things up.

Speed and the ledger provides a full record what happens to the money....

[RHODEY]

I understand your frustration. You missed out on major profits because you refuse to embrace the new. But its not too late Wingo...you can still join the DIddy Party!!

I first heard about bitcoin at $600ish and couldn't figure out how to safely buy it.

I'm damn sure bitter. But it does seem to be gaining legitimacy, not losing it. I'm not sure that I believe in the story but enough people do now.

That’s because of the Harris campaign was talking it up leading up to the election in order to try and siphon off some voters. And there are some sports franchises promoting it now but that’s for advertising purposes. Maybe their owners are invested in it. The whole thing is a big scam.

Blockchain is technology...not a scam. Was the internet a scam?

[NYKinMIA]

I first heard about bitcoin at $600ish and couldn't figure out how to safely buy it.

I'm damn sure bitter. But it does seem to be gaining legitimacy, not losing it. I'm not sure that I believe in the story but enough people do now.

you think you're bitter now?

imagine how you'll feel in 10 years after realizing "it seems to be gaining legitimacy" and still didn't act.

[NYKinMIA]

I first heard about bitcoin at $600ish and couldn't figure out how to safely buy it.

I'm damn sure bitter. But it does seem to be gaining legitimacy, not losing it. I'm not sure that I believe in the story but enough people do now.

That’s because of the Harris campaign was talking it up leading up to the election in order to try and siphon off some voters. And there are some sports franchises promoting it now but that’s for advertising purposes. Maybe their owners are invested in it. The whole thing is a big scam.

Blockchain is technology...not a scam. Was the internet a scam?

precisely. it's a type of network (see link below)

let grampy yell at clouds and keep his money in the mattress

https://en.wikipedia.org/wiki/Metcalfe%27s_law

[Capn'O]

I first heard about bitcoin at $600ish and couldn't figure out how to safely buy it.

I'm damn sure bitter. But it does seem to be gaining legitimacy, not losing it. I'm not sure that I believe in the story but enough people do now.

you think you're bitter now?

imagine how you'll feel in 10 years after realizing "it seems to be gaining legitimacy" and still didn't act.

That's my general view of currency. That it's as valuable as people believe it is. I knew BC was going to get big but not the extent or if it would be the end game in this trend, which it seems to be, or an early adopter. But no, I won't feel worse than that. That sucked. It wasn't like "oh, maybe I should buy this but I want to wait." The transaction was up on my screen but I couldn't figure out if the site was legit and Ameritrade didn't have a way in. I'll likely take a small holding in the near future. I tried to buy coinbase (which I'm aware isn't the coins themselves) yesterday and my screen froze at the bell. Deja vu.