Sold of My Entire Bullion Collection In Order To Purchase BitCoins

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

  1. baseball21

    baseball21 Well-Known Member

    Are you just repeating what has been said for the last 5 years?

    There is ABSOLUTELY NO argument in any world that PMs were a better investment in 2013 than bitcoin was.
     
    Evan Saltis likes this.
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  3. GoldFinger1969

    GoldFinger1969 Well-Known Member

    BitCoin to me is the Ultimate Speculation. It's a digital currency issued by nobody and transparency is ZERO.

    It could go to $250,000 in a few years or collapse to $2,500. I have no idea.

    I'll stick with gold and silver, at least the coin designs are nice.:D
     
  4. baseball21

    baseball21 Well-Known Member

    Speculation isn't really the worry with it, the real problem as I've said before is that it's so expensive now that the average person really can't do anything with it investment wise. This is especially true with all the undervalued stocks that are still out there

    Doesn't make a lot of sense to get 1 bitcoin when you could get 100s or a 1000 shares of something else that will spike when the vaccine comes out
     
    GoldFinger1969 likes this.
  5. Michael K

    Michael K Well-Known Member

  6. Marshall

    Marshall Junior Member

  7. -jeffB

    -jeffB Greshams LEO Supporter

    I have no idea why you'd say this. It's like saying the average person can't afford to buy copper because it's over $7000 a ton.

    If you want to buy a hundredth or a thousandth of a BTC, there's absolutely nothing stopping you, is there?
     
    GoldFinger1969 likes this.
  8. baseball21

    baseball21 Well-Known Member

    Why would you buy a 170 dollar 1/100th share. Why on earth would any one play around with a 17 dollar share of something that expensive. Part of investing is knowing where to get the best returns.

    Fractional shares of anything are a terrible idea and playing around with something this expensive if you can only do fractional is a terrible idea.

    There's a number of guaranteed stocks that will go up in the next year or so put the money with much larger returns
     
    Last edited: Nov 19, 2020 at 8:13 PM
    GoldFinger1969 likes this.
  9. hchcoin

    hchcoin Member

    What's your list of guaranteed stocks ;) ?
     
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  10. GoldFinger1969

    GoldFinger1969 Well-Known Member

    The ones that go up.......:D
     
    baseball21 likes this.
  11. baseball21

    baseball21 Well-Known Member

    There's a number that will go up when the world opens up again which it will.
     
    GoldFinger1969 likes this.
  12. -jeffB

    -jeffB Greshams LEO Supporter

    Because a tenfold return is a tenfold return, and if all you have is $17 or $170, then that's what you put in. How would you go about buying $17 worth of gold?

    (Note: I've never bought bitcoin, so I don't know what transaction fees are like. I know there are vending machines in my area, but I also know that they demand a full identity-theft kit of personal information to let you make a transaction; that's a price I'm not willing to pay.)

    I don't know whether Bitcoin will reach 10x its present valuation, or 1/10 its present valuation. I personally think the latter is more likely, and certainly more likely to happen first -- but I'm not gambling on it either way, because there are no fundamentals here.

    I don't think it's very likely that Bitcoin will hit $1M, but I think it's more likely than gold hitting $100K, because again, there are no fundamentals here.

    Bitcoin does interest me, because it's such a near-perfect abstraction of value. It's absolutely, positively backed by the full weight of nothing at all except itself. As a computer-science and logic geek, that appeals to me, or amuses me, or something.
     
  13. baseball21

    baseball21 Well-Known Member

    I wouldn’t. I’d put it into something with a greater expected return or at least dividends. And if I only had 17 dollars I’d use it for more important things.

    There’s also countless stocks this year where 17 would have given a much better return.
     
    Last edited: Nov 20, 2020 at 12:25 AM
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  14. Marshall

    Marshall Junior Member

    My only advice is that you sell enough to cover your investment and just use house money for the high risk investment that is continued appreciation.

    I've made high risk investments myself. Never put in more than you can afford to lose and recover your initial investment quickly unless there is a material change in the risk.
     
  15. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Good advice...I don't consider BitCoin to even be a "high risk" investment....more like a High Risk Speculation ! :D
     
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