Cryptocurrency

jmauld said:
Something limited like BTC is one thing but an unlimited coin like SHIB or DOGE. Nah. That’s a fool’s game. No way around it.

Of course than there’s Tesla, that shows just how irrational the current market is.
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I take it you don’t think Elon is going to make an electric yacht?
 
Bitcoin's early days brought massive profits to early adopters, but that doesn't mean you can't make money with it now. It might not skyrocket like before, but it can still be a valuable part of your portfolio.When it comes to altcoins like Dogecoin, Litecoin, and Shiba Inu, they're known for their volatility. They can be a rollercoaster ride, so make sure you're ready for it. Diversifying your crypto holdings among these and other promising projects can be a smart move.Regarding the trading strategies, you might want to explore Ethereum Code – it's a tool that harnesses the power of AI for crypto trading. I've found it helpful in making more informed decisions.
 
Play safe ,buy gold and silver maybe a little platinum
 
HardRockin said:
All of my dollars are digital. They’ve been that way for years. Nothing new there. But once the world loses confidence in the dollar and it loses its reserve currency status, you’ll wish you owned bitcoin. Anyone who asks, you don’t have to buy bitcoin now, but you will have to own it in the future. Don’t know if that makes any sense to anyone but that’s my strategy.

I’ve bought bitcoin and haven’t sold a single satoshi. I don’t plan to. If I need to spend some money I’ll take a loan against it.

You cannot continue to inflate a currency and expect people to trust it. That’s the difference between dollars and bitcoin. Bitcoin is trustless, it adheres to a set of rules. Dollars do not. Bitcoin does not need to be a true form of currency for it to be successful. It just needs to be a store of wealth, digital gold. I prefer the method of earning money described here, but of course, this is my personal opinion. Try getting on an airplane with $100,000 in gold in your luggage and see if it makes it to your destination. I can hop on an airplane with 14 words memorized in my head and carry $1 trillion worth of bitcoin to wherever I need to go.
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Agree, Bitcoin is really trustless.
 
I'm surprised they didn't recommend Sam Coin on their first post.

After all......the FTX billions went somewhere.....
 
Pls explain…
I send someone, somplace on the internet, my hard government backed currency, via an internet payment system, and they give me some vapor ware currency, that is not backed by any FDIC or government entity, not even ruples, dracmas, or North Korean whatever, but i am told they will turn my hard cash / vapor ware into something more valuable than i ever could have dreamed of, tax free, and i can use this vapor ware currency to purchase an actual private island?
Do i got this right?
Better investment… send me $15k and i will send you a notarized form that says my 91 boat will be worth $40k next year. You can redeem the form next year.
I get it now. DM for where to send the check.
 

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Not exactly. Your cash gets converted into an unsecured asset that may or may not appreciate. If it appreciates and you convert it back to USD or use it to buy something .....you will owe taxes based on ordinary income or capital gains depending on how long you held it.

If it drops in value......well it sucks to be you and you should have known better.

IRS reporting now requires the disclosure of any digital currency and digital currency transactions regardless of where it is being held.

In my opinion it only exists because National currencies have become so restrictive that people with money want another way to move money around without National controls.

The early BTC folks did extremely well. The Sam Coin/FTX guys lost everything.
 
Not exactly. Your cash gets converted into an unsecured asset that may or may not appreciate.
Sounds exactlty like what i said.

The early BTC folks did extremely well.
So did Charles Ponzi and Bernie Madoff.

Like they say, you go first.
 
PlayDate said:
I'm surprised they didn't recommend Sam Coin on their first post.

After all......the FTX billions went somewhere.....
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One would hope that what happened there is easier to see after the fact, but alas,
people for the most part do not want to see what is front of their eyes.

Circle of Sheeple Financs.png

To be fair it, wasn't just Slow Joe; but rather the Demonicrats and their GOP workmates.
Even some blind men noted the very day that Kevin McCarthy got ousted, that the gig was up in Ukraine and that laundromat was closed.

God forbid we should live in a world where Congress doesn't have a socially justified open spigot to send our money around the world and back into their pockets rather than here, for our benefit.
 
Stay away from crypto .my 2 cents
 
Do people actually realize how big the deficit is 33 trillion. We are screwed
 
Current political thinking is that the deficit is largely irrelevant since most countries debt exceeds their GDP. That thinking lines up with the currency will be devalued by the global markets.

It also plays into 58% of the US budget is dedicated Social Security and Medicare.

I think that this is stupid but nothing changes on either side of the aisle when they enrich themselves and buy voters.
 
If other countries don't buy our bonds we are screwed!!!!!!!!!!
 
Pirate Lady said:
Let me guess. You aren’t anywhere close to retirement age. But i do thank you for paying into the pot that I am drawing from.
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I am and I am drawing from the same pot.

I think you read the last sentence out of context or I organized it poorly. The negative comment was not about SS and Medicare both of which I paid far more money into than I will ever take out...... It was about the $33 Trillion in debt which both parties complain about and do nothing to change it. Just more continuing resolutions to add to the debt instead of taking a hard look at what it is being spent on.
 
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