Sold of My Entire Bullion Collection In Order To Purchase BitCoins

Discussion in 'Bullion Investing' started by Tyler, Apr 1, 2013.

  1. Lesbian Cow

    Lesbian Cow Member

    Hawkeye, my comment was not really directed at as you have explained what you don't like about bitcoin - you don't really trust it as it is not government issued. I get that, totally.

    But most of the comments are the intellectual equivalent of "No, you're poopy pants"

    Regarding log vs. non log, I prefer price charts to show a move from 10 to 20 the same size as a move from 2000 to 4000 as they are the % equivalent. Totally just my preference, others disagree.
    Numinaut likes this.
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  3. Lesbian Cow

    Lesbian Cow Member

    Why not sell short and make some money?

    Care to explain what characteristics of bitcoin convinced you it is not a worthwhile investment?

    Also, at what price was BTC in USD when you determined it was not a solid investment?
  4. Santinidollar

    Santinidollar Supporter! Supporter

    No offense intended, and I hope none is taken. But I don’t intend to play 20 Questions about my personal investment decisions.

    Bitcoin is obviously good for you. It’s not for me.

    Let’s leave it at that.
  5. HawkeEye

    HawkeEye 1881-O VAMmer Supporter

    I agree, and as I have said before, if Warren Buffett is steering clear of it then I don't need to own it. But I am just a simple investor stuck way back in the woods with a dialup modem and a phone.
  6. Michael K

    Michael K Well-Known Member

    Dixie cups and string modem, and Windows Stone Age here.
  7. Lesbian Cow

    Lesbian Cow Member

    I thought this was a discussion forum for sharing ideas and thoughts - having debate and the like.

    No offense taken, but why bother posting to a thread about bitcoin as an investment if you don't want to talk about your reasoning for why bitcoin is a bad investment?

  8. ToughCOINS

    ToughCOINS Dealer Member Moderator

    $6568 now . . . Maybe Kim Jung Un doesn't need it any more.
  9. Lesbian Cow

    Lesbian Cow Member

    Do you have a source for your information on Kim Jung Un ever using bitcoin? I had not heard that at all.
  10. ToughCOINS

    ToughCOINS Dealer Member Moderator

    Just poking unenlightened fun . . .

    While on the subject though, I'll state that BC holds no attraction for me because I see no trend towards mainstreaming any of the cryptos as a medium of exchange.
  11. Lesbian Cow

    Lesbian Cow Member

    Not sure I follow your above. Are you saying you have not observed bitcoin being used more as a medium of exchange? Really?

    Back in 2013 there were maybe 10 - 100k of us using btc around the world and all you could buy (legally) was Alpalca Socks. In 2010-11 (not me) it was 100's maybe 1000s of people. Today Bitcoin is discussed daily on CNBC, The Wall Street Journal, NY Times, JP Morgan's trading desk etc...Goldman Sachs has invested in several bitcoin exchanges. Peter Theil, Tim Draper, etc...

    APMEX accepts bitcoin, JM Bullion, Expedia, NewEgg, etc....

    If you do not see bitcoin gaining use as a medium of exchange over the last 5 years I have to ask, have you looked up from that desk at all?
  12. ToughCOINS

    ToughCOINS Dealer Member Moderator

    I'm talking about mainstream commerce . . . not a mere dozen pages of business names, but something broader than that. If, for example, the number of businesses accepting BC equaled let's say even 1% of the businesses accepting payments via PayPal, now THAT would turn my head!

    Unfortunately, it isn't mainstream, and I don't envision it getting there.
  13. ToughCOINS

    ToughCOINS Dealer Member Moderator

    One more point to be made . . . you're right, you do see BC discussed by CNBC, WSY, NYT, JP Morgan, Goldman Sachs, Peter Theil, Tim Draper, etc.

    What you don't see is BC routinely being accepted in run-of-the-mill regular everyday transactions on the street. In other words . . . those who want a profit position in BC are talking it up, but those on whom it would rely for sustainable survival as a medium of exchange aren't even giving it the time of day.

    BitCoin has no legs to stand on.
  14. midas1

    midas1 Exalted Member

    Only an idiot would broadcast he/she owns BTC.
  15. -jeffB

    -jeffB Greshams LEO Supporter

    I don't get your point. Then again, I'm reading a forum where people talk about their PM holdings.
  16. Michael K

    Michael K Well-Known Member

    When the bubble goes down, like today, expect it to run way down.
    They are finally admitting that manipulation drove the price higher,
    without any logic or fundamentals.
  17. CoinsandBars

    CoinsandBars New Member

    I'm reading this thread while holding on to a silver coin and smiling.
  18. midas1

    midas1 Exalted Member

  19. Michael K

    Michael K Well-Known Member

  20. Numinaut

    Numinaut Member

    Miller Value Partners’ Bill Miller holds the record for being the only mutual fund manager to beat the market for 15 years in a row. One way he did it is by investing in new technologies that the Wall Street establishment thought were crazy at the time – Amazon, Google, and Facebook among them. His latest “crazy” idea: Bitcoin.
    midas1 likes this.
  21. CoinsandBars

    CoinsandBars New Member

    It is still going down? Always update us.
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