Bitcoin... currency of the future or fraud/scam/bubble?

[UscGhost]

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Bitcoin is a speculation not an investment.

Its not a currency (may be at some point)..requires stability in value in order to be used as a transactional medium

Sone speculations do extremely well, some dont.

Thats all

 

[stillpremed]

Bitcoin is a speculation not an investment.

Its not a currency (may be at some point)..requires stability in value in order to be used as a transactional medium

Sone speculations do extremely well, some dont.

Thats all

This is the perfect example of the argument made by someone who has not made any/much money on bitcoin, a tale as old as time

 

[sevo00]

It’s the equivalent of someone thousands of years ago saying Gold is not an investment

 

[pgg]

It’s the equivalent of someone thousands of years ago saying Gold is not an investment

Of course it's an investment. Semantics over whether it's speculation or some kind of zero-sum currency trading game hardly matter; you bought some and made some money. Congrats. How well it will do from here out is uncertain - the notion that its market cap will exceed that of gold seems optimistic to me, but maybe you're right.

It's odd. You don't see people who bought Amazon or Apple or Nvidia stock and made truckloads of money on them prancing about, talking about their world-changing effects and pretending that people who didn't buy those stocks are going to be left behind, luddites condemned to the dustbin of history.

But you bitcoiners (and TSLA believers) are absolutely insufferable. It's as if you think everyone else hasn't also made money hand over fist investing in, well, just about anything, over the last 15-20 years. These have been good years for everyone.

Enjoy your profits. I wish you luck in making more. There's no need to be a **** about it.

 

[Lab Lover]

It’s the equivalent of someone thousands of years ago saying Gold is not an investment

You invest money for one reason...the hope that you will be able to turn it into more money.

 

[UscGhost]

This is the perfect example of the argument made by someone who has not made any/much money on bitcoin, a tale as old as time

Buying 100k in Amazon stock is investing. You are buying part of a business, with an established business plan, assets, cash flow, structure..with an expectation of appreciation and gains

Buying 100k in bitcoin is speculation. There is no well established business uses, business plan, cash flow, structure or governance. You are speculating that the price will go up because the price went up before.

Gold was a currency for thousands of years. Has industrial as well as cultural and personal uses.

Whether you make money on any specific investment or not is entirely irrelevant to the discussion of whether its an investment or a speculation

 

[triggermaster]

Buying 100k in Amazon stock is investing. You are buying part of a business, with an established business plan, assets, cash flow, structure..with an expectation of appreciation and gains

Buying 100k in bitcoin is speculation. There is no well established business uses, business plan, cash flow, structure or governance. You are speculating that the price will go up because the price went up before.

Gold was a currency for thousands of years. Has industrial as well as cultural and personal uses.

Whether you make money on any specific investment or not is entirely irrelevant to the discussion of whether its an investment or a speculation

It’s a speculative investment

 

[stillpremed]

It's a way to make more USD than your peers who are stuck on defining what is an investment and what is speculation

 

[UscGhost]

It’s a speculative investment

Correct.

 

[UscGhost]

It's a way to make more USD than your peers who are stuck on defining what is an investment and what is speculation

Sounds like a solid business plan.

Growth potential? Infinite
Business plan? Gains on gains
Exit strategy? After i have gained all the gains to be gained

Fool proof

 

[We'llBeDoneIn15Minutes]

It's a way to make more USD than your peers who are stuck on defining what is an investment and what is speculation.

Right or wrong, you are way too sure of yourself. At some point whether it's Bitcoin or something else you'll learn nothing is a sure thing. The investment graveyard is littered with young people like yourself saying the same thing during the dot com era as well as many others times in history.

 

[stillpremed]

Right or wrong, you are way too sure of yourself. At some point whether it's Bitcoin or something else you'll learn nothing is a sure thing. The investment graveyard is littered with young people like yourself saying the same thing during the dot com era as well as many others times in history.

Im cocksure, damn straight. Gotta have conviction and no gonadopenia in this game xoxo

 

[VA Hopeful Dr]

If I had to see 30 patients in a clinic every day I'd put a gun in my mouth. I'm an anesthesiologist, edging toward early retirement. Life is good.

Eh, like anything else it gets pretty easy with experience.

 

[aneftp]

Can’t believe the original thread was 2013. I hope Moscow is long retired by now with their future thinking with bitcoin.

Lots of should have could have back than.

It was on my radar late 2014. Except our private anesthesia contract was under fire by Sheridan trying to steal the contract and my kids were toddlers/pre k back than on single income and the job market was getting very tight in Florida as group after grouo (it seemed every 2 months was selling or loosing contracts). Even mangar of the infamous Tampa area snooped and tried to negotiate with the hospital.

 

[finalpsychyear]

Im cocksure, damn straight. Gotta have conviction and no gonadopenia in this game xoxo

We are so early. I get no one is going to put money into something based on some internet rando but the point is to be aware and do your own in depth research. The ultinate payoff is being able to retire a few years earlier than if you just stick to VOO so 55 instead of 60 if someone was doing a 3-5% allocation and just starting to get a position.

Regardless, most on here are in the 400-500+ range and investing most of their careers so even if they keep doing what they are doing they get to their finish line so i get there point as well not to mess with whats been a great bull run for them over the last 10-15 years.

But based on the title of this thread this asset is now a 2 trill MC, us pres and vp and treasury sec are pro along with many in congress and middle east soverign funds allocating. The odds of this being a scam/bubble is minimal at this point.

 

[pgg]

Eh, like anything else it gets pretty easy with experience.

To each their own. 🙂

My brother is an ER doc and I can't understand how he stays sane.

He can't understand how I don't die of boredom listening to beeps and the narcissistic drone of surgeons all day.

 

[pgg]

Im cocksure, damn straight. Gotta have conviction and no gonadopenia in this game xoxo

The great thing about being young with a high income is that you can afford to go after some higher risk investments, even if you don't need to. If it doesn't work out, still plenty of time to recover. If it does ... maybe there are riches to be had. Good luck. 🙂

 

[sevo00]

Right or wrong, you are way too sure of yourself. At some point whether it's Bitcoin or something else you'll learn nothing is a sure thing. The investment graveyard is littered with young people like yourself saying the same thing during the dot com era as well as many others times in history.

It’s been out since 2007. If it was a scam we would know by now

 

[stillpremed]

We are so early. I get no one is going to put money into something based on some internet rando but the point is to be aware and do your own in depth research. The ultinate payoff is being able to retire a few years earlier than if you just stick to VOO so 55 instead of 60 if someone was doing a 3-5% allocation and just starting to get a position.

Regardless, most on here are in the 400-500+ range and investing most of their careers so even if they keep doing what they are doing they get to their finish line so i get there point as well not to mess with whats been a great bull run for them over the last 10-15 years.

But based on the title of this thread this asset is now a 2 trill MC, us pres and vp and treasury sec are pro along with many in congress and middle east soverign funds allocating. The odds of this being a scam/bubble is minimal at this point.

Yup. Do you want to sacrifice 2 years of income for a potential 5-20 year earlier retirement (if you so choose to retire)? If not thats cool. If so, more power to you. That's what I ask myself all the time and the answer is always yes 100 times out of 100.

Freedom is time in the form of health + financial independence. Health is no guarantee but you can tilt the odds in your favor with FI.

The tulip mania and beanie baby craze analogies are dead on arrival with BTC going from 0 market cap to 2T market cap over 16 years.

 

[VA Hopeful Dr]

To each their own. 🙂

My brother is an ER doc and I can't understand how he stays sane.

He can't understand how I don't die of boredom listening to beeps and the narcissistic drone of surgeons all day.

The boredom I could handle, but y'all are kinda like OB: when **** hits the fan it can do so extremely quickly. I want no part of that.

 

[<(^_^)>]

Yup. Do you want to sacrifice 2 years of income for a potential 5-20 year earlier retirement (if you so choose to retire)? If not thats cool. If so, more power to you. That's what I ask myself all the time and the answer is always yes 100 times out of 100.

Freedom is time in the form of health + financial independence. Health is no guarantee but you can tilt the odds in your favor with FI.

The tulip mania and beanie baby craze analogies are dead on arrival with BTC going from 0 market cap to 2T market cap over 16 years.

Plenty of ways to get high returns with high risk without investing in something that has no basis for its value.

Bitcoin (as a technology/social thing) is cool, I have been following it since early days (back when you could CPU mine it!). I’ve made $xxx,xxx with bitcoin, even though if I had miraculously held until today all my btc it would be probably low 8-figures. Thing is 1: virtually everyone sells. Taking profits is a normal and good thing. 2: this is not remotely early.

If you think you’re early, sorry to let you know, this is late. Hell, you weren’t early when it was being mentioned in nytimes and cnn etc. now maybe btc goes to 11 quadrillion, its entirely arbitrary after all, but if you’re buying btc now you’re about as “early” as someone buying Nvidia. Maybe you’ll make $, not saying you won’t, but this isn’t some obscure early stage thing. The president has mentioned bitcoin in nationally televised addresses. What does “late” look like to you? Because bitcoin is inherently unusable as an actual globally used currency as the transaction limit is insufficient for the state of texas alone, there isn’t much else to be accomplished other than everyone knows about it.

 

[finalpsychyear]

Plenty of ways to get high returns with high risk without investing in something that has no basis for its value.

Bitcoin (as a technology/social thing) is cool, I have been following it since early days (back when you could CPU mine it!). I’ve made $xxx,xxx with bitcoin, even though if I had miraculously held until today all my btc it would be probably low 8-figures. Thing is 1: virtually everyone sells. Taking profits is a normal and good thing. 2: this is not remotely early.

If you think you’re early, sorry to let you know, this is late. Hell, you weren’t early when it was being mentioned in nytimes and cnn etc. now maybe btc goes to 11 quadrillion, its entirely arbitrary after all, but if you’re buying btc now you’re about as “early” as someone buying Nvidia. Maybe you’ll make $, not saying you won’t, but this isn’t some obscure early stage thing. The president has mentioned bitcoin in nationally televised addresses. What does “late” look like to you? Because bitcoin is inherently unusable as an actual globally used currency as the transaction limit is insufficient for the state of texas alone, there isn’t much else to be accomplished other than everyone knows about it.

s and p 500 will near 7k in the next 12 mo. Most on here will be thrilled since they are heavy in VOO. If we near 7k in the S&P then btc will likely be near 200 and that crowd will be also be thrilled. Lets see how it plays out.