Sold of My Entire Bullion Collection In Order To Purchase BitCoins

Exactly right. The odds of hitting a big win at Lotto are so tiny that it is not really worth the bother.

So in the case of bitcoin (and stocks) you can follow the macroeconomic trends and look at what the big players are doing, and so gain enough information to try to make a prediction. At present they are signalling big money piling into bitcoin. Of course they could be (and probably are) playing games and trying to steer the market.

For the record, I own a fraction of one bitcoin. I'm only betting a cow, just to keep an eye on the cattle market.

 

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This latest traffic prompted me to go look at PayPal's new crypto support.

Apparently you can buy and sell Bitcoin, Ethereum, and Litecoin. They also support Bitcoin Cash, but you need a PayPal Cash account to support that.

Until the end of December 2020, they're waiving transaction fees. Starting in 2021, the fees are 50 cents for transactions less than $25, then a sliding rate scale; the minimum fee, for transactions over $1000, will be 1.5%. I don't know how this compares to existing crypto marketplaces.

I see at least two big caveats:

1) PayPal will also make money on the spread, that is, the amount they'll pay for your BTC will always be a bit less than the amount they charge for BTC at any given moment. They explicitly state that they will not disclose the size of this spread, but it should be easy enough to guess at it on the basis of a few transactions.

2) You can't transfer crypto into or out of PayPal, except by converting it to dollars (or whatever other conventional currency you use).

Based on this, I might buy some between now and the end of the month as a speculation. It looks like the friction is low enough at this point to make it an interesting gamble. But I'm not much of a gambler, so it may not happen.

 

Correction: Bill Miller said this, not Bill Gross the bond king.

 

I said "Don't hit me" but here you are calling me a lemming ... Just joking, I respect your opinion. I look at the opinions of investors who are smarter and more successful than I am, then I make my own decisions.

Charles Darwin said: "It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change." And we are in a world of change right now. I'm looking to the future.

 

No I’m not repeating anything.

I never said PMs were a better investment.

PMs aren’t meant to be an investment at all. They are meant to be a hedge against inflation to maintain the value of wealth.

I have Bitcoin myself but I bought it back when it was at $400 per BTC because I used to buy things on PirateBay and that’s all they accepted.

What I am saying is that there are many other investments such as stocks that are better investments than Bitcoin.

 

You’re right!

I bought 200 shares of Virgin Galactic at $16.86 per share a few months ago and sold at $30.40 per share. I’m glad I did too because now it’s “only” $25 per share which is less than I sold for.

 

And how sad I am now to think that I could have bought about 3000 worth of bitcoin under 12$ a coin. I didn't see the get rich quick side of the game.
Bit coin still has no backing and funds many illegal activities. Ya who cares I got mine right?

 

$12 per coin would not have really been feasible.

By the time the public became aware of Bitcoin it was already up to like $500/coin in 2013 and that’s when it was a small time thing.

However I think it’s more realistic to say you could’ve bought Bitcoin at $600-$700 per coin and made a huge profit.

On the other hand Bitcoin still has a very high likelihood of being a bubble about to burst. It has no intrinsic value and it’s not being used for transactions and even if it is was being used for transactions many governments (including ours) would criminalize it since only the government has the legal authority to print or coin money.

Basically right now Bitcoin is just like a digital investment similar to an investment in digital gold with nothing to back it up.

Heck all it would take is a major nation or hacker network to execute a large scale hack and everyone who owns bitcoin could end up with nothing and no way to get their money back even if they knew who took it.

Right now the people who are going to make big profits from Bitcoin have already bought & sold their Bitcoin. Now it’s just a matter of how long it takes the people still holding Bitcoin to realize they’ve been left holding the bag.

Once they do and the panic selling sets in they’ll be lucky to get $10 for 1 Bitcoin.

 

I assume this is at or near an all time high.
$23,888.30

 

Yup!

Like I said I have Bitcoin myself and even having Bitcoin I am very skeptical of it.

Im not just saying it out of jealousy or ignorance.

 

It is easily said that I could have bought bitcoin at 12$ a coin. That is when I was first introduced to it. End of statement.

 

I expect that most Central Banks, including the FED, will come up with Digital Currency and, we'll all have to switch over to using it. I can't imagine that these Central Banks would allow "competition" from Bitcoin and other crypto currencies that they don't control. I don't own any cryptos and don't plan to start any time soon. I'll continue to stack silver and gold coins and pay off all debt. That seems like the safe thing to do at this time.

 

Highly doubtful. Countries aren’t going to combine their currency into one and we already have digital currency, it’s called credit cards and debit cards. There’s plenty of ways to electronically use a country’s currency

 

So you’re saying you were one of the first hundred people to know about it?

 

How many shares of Enron can you buy with 1 Bitcoin ?

 

All of them.

 

An all digital currency would be insanely dangerous.

That would mean the entire system would be reliant on computers.

If a solar flare like the one that hit in the 1800s hit again and they were doing that it would basically wipe everything out of the economy. Everyone’s bank balance would return to $0.00 regardless of how much money they actually had.

Can you imagine the chaos that would break out if every single citizen had all of their wealth just disappear like that?

Not to mention hacking attempts:

That would be terrifying.

 

$26900

 

$27,152

This is a runaway train. A charging bull.