Sold of My Entire Bullion Collection In Order To Purchase BitCoins

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

Page 86 of 130
  1. Collecting Nut

    Collecting Nut Borderline Hoarder

    And this thread started out as an April Fools joke 8 years ago. Lol
     
    Collecting Nut, Feb 8, 2021
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  3. hchcoin

    hchcoin Active Member

    If only they had done it for real.
     
    hchcoin, Feb 8, 2021
    #1702 + Quote Reply
  4. masterswimmer

    masterswimmer A Caretaker, can't take it with me

    So Elon buys $1.5 Billion in Bitcoins. Subsequent to his purchase he announces that he's going to accept Bitcoin for Tesla purchases. Bitcoin prices climb to another record high eclipsing $47,000 intra day trading. Not much market manipulation there. Nope, nothing to see. Move right along.
     
    masterswimmer, Feb 8, 2021
    #1703 + Quote Reply
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  5. -jeffB

    -jeffB Greshams LEO Supporter

    Nope. It's worth over $44000, if it's easy to sell it at that price.

    The problem I have: tomorrow it might well be worth $50000, or $38000. And a year from now, it might be $200K or $10K. It depends solely on mass psychology. I suppose you could make the same argument about TSLA or AAPL, but I'm a lot more comfortable putting money into a company that actually makes and sells stuff.
     
    -jeffB, Feb 8, 2021
    #1704 + Quote Reply
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  6. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Ultimately, BitCoin is just a private IOU traded online and digitally.

    At least with gold, I have a precious metal. I can also buy coins which I can enjoy.
     
    GoldFinger1969, Feb 8, 2021
    #1705 + Quote Reply
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  7. CoinCorgi

    CoinCorgi Tell your dog I said hi!

    If you don't want to own cryptocrap, but want to participate in the craze, try playing with the ETF's like BLCN, BLOK, and LEGR that invest in companies that stand to make money off of crypto and blockchain technology.

    3.png
     
    Last edited: Feb 11, 2021
    CoinCorgi, Feb 11, 2021
    #1706 + Quote Reply
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  8. baseball21

    baseball21 Well-Known Member

    We now have a US bank thats going to be in the crypto game
     
    baseball21, Feb 11, 2021
    #1707 + Quote Reply
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  9. longshot

    longshot Enthusiast Supporter

    Crypto-
    Bitcoin: $52,170 up 44% last month.
    Ethereum: $1,906 up 53% last month.

    Miners-
    Riot Blockchain: $81 up 223% last month.
    Marathon Patent Group: $48 up 113% last month.

    Just recording for posterity.:pompous:
     
    longshot, Feb 17, 2021
    #1708 + Quote Reply
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  10. ToughCOINS

    ToughCOINS Dealer Member Moderator

    I didn't write this but, as it echoes my sentiments, I am posting a comment I found following an article about Bitcoin . . .

    "This article is a joke. Bitcon is a failed currency which 99.9% of merchants do not accept and the handful who claim they accept it actually get paid by a third party in .... dollars. Bitcon is a failed currency and can never hope to compete as a legitimate currecy, it's too slow to process, costs too much to use and did I mention, no one accepts it? It is not peer to peer, it is not anonymous, it is not decentralized as only a handful of "miners" (bankers) process the transactions. Bitcon is a failed currency primarily because of these factors and of course because 99.9% of merchants do not accept it and have no incentive to do so. For merchants to use it simply adds to the cost of doing business, for buyers to use it just adds complication and cost to transactions. Common sense then begs the question, why would anyone want to use or accept it when it adds complication, cost and risk to any transaction? The answer is, no one does. This is of course why bitcon has failed as a currency and this is why it will fail as a speculation. It's much like a Ponzi scheme, the last one's to get in will lose the most money and the manipulators will sweep the table taking the money from the delusional bitcon faithful. At over $50K a digit, and a digit is all it is; bitcon presents the greatest risk ever to speculators, it is at the height of the mania. The astronomical returns are over, it's now too late for big gains or even or even a double."​
     
    ToughCOINS, Feb 19, 2021
    #1709 + Quote Reply
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  11. baseball21

    baseball21 Well-Known Member

    That comment isn’t accurate but people can keep saying it all they want.
     
    baseball21, Feb 19, 2021
    #1710 + Quote Reply
  12. manny9655

    manny9655 Well-Known Member

    Bitcoin is a fiat currency just like paper money is. No backing. It's all sheer speculation. Avoid it like the plague unless you want to eventually lose your shirt when it fails. I'll stick to precious metals, thank you.
     
    manny9655, Feb 19, 2021
    #1711 + Quote Reply
  13. baseball21

    baseball21 Well-Known Member

    That’s not even remotely true of government currency. Again though how many years are people going to say the same thing and be wrong. This thread started about a decade ago
     
    baseball21, Feb 19, 2021
    #1712 + Quote Reply
  14. ToughCOINS

    ToughCOINS Dealer Member Moderator

    Oh yes, of our government currency, it is true.

    The only thing backing it is . . . words.
     
    ToughCOINS, Feb 19, 2021
    #1713 + Quote Reply
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  15. baseball21

    baseball21 Well-Known Member

    Bo it’s backed by the strength of a nation and more specifically it’s military, production, and buying power. It’s backed by FAR more than any metal that’s literally backed by nothing
     
    baseball21, Feb 19, 2021
    #1714 + Quote Reply
  16. ToughCOINS

    ToughCOINS Dealer Member Moderator

    That's a load of crap.

    Strength of what nation? China? We've undergone a major dilution of military might while China has scaled up like the world has never seen. We've exported our manufacturing capabilities, first to China, and then to other nations. Now, in the shadow of COVID, we've shut down commerce . . . in the case of most small businesses, permanently. The USA has become an empty shell of itself.

    As China has won over changes in SDRs and BRIC nations have successfully lobbied most of the rest of the world to endorse transacting in a new world currency, we are on the chopping block, and most Americans aren't even aware of it yet.
     
    ToughCOINS, Feb 19, 2021
    #1715 + Quote Reply
  17. baseball21

    baseball21 Well-Known Member

    It’s not crap at all nor is China the super power it’s portrayed as. While there are some real issues you’ve brought up especially with bad leaders and power grabs the fact is the world needs the USA market as we are the biggest consumer of essentially everything and it’d be destroying themselves to destroy the US. Militarily still by FAR the strongest and only nukes are an equalizer. There’s a reason why the attacks have to be socially to keep trying to change things over a long period of time and we are no where close to the end of the dollar
     
    baseball21, Feb 19, 2021
    #1716 + Quote Reply
  18. ToughCOINS

    ToughCOINS Dealer Member Moderator

    What beachsand do you have your head plugged into?

    .​
     
    ToughCOINS, Feb 19, 2021
    #1717 + Quote Reply
  19. GoldFinger1969

    GoldFinger1969 Well-Known Member

    BitCoin may go up or down. But it is NOT a currency. Doesn't meet any of the requirements of a currency.

    The first time someone is hacked or BitCoins disappear -- it's happened before -- it will get rocked.

    Unfortunately, it is definitely sucking $$$ away from gold and other PMs.
     
    GoldFinger1969, Feb 19, 2021
    #1718 + Quote Reply
  20. baseball21

    baseball21 Well-Known Member

    That’s already happened a lot over several years. It didn’t get rocked from it nor is there a reason to think it will. Everything gets hacked at some point
     
    baseball21, Feb 19, 2021
    #1719 + Quote Reply
  21. -jeffB

    -jeffB Greshams LEO Supporter

    -jeffB, Feb 19, 2021
    #1720 + Quote Reply
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