• There has been a recent cluster of spammers accessing BARFer accounts and posting spam. To safeguard your account, please consider changing your password. It would be even better to take the additional step of enabling 2 Factor Authentication (2FA) on your BARF account. Read more here.

bitcoins

Blankpage said:
Easy to say what should be done after the fact.
Me not taking part in making hindsight calls doesn't mean my posts are negative.
Click to expand...

It was before the hindsight and through most of the thread if memory serves me correct. Also I don’t need hindsight, if you like I can post wins but prefer not to do so.

Why not offer up a tip or two on how to invest in btc?

Hindsight is cool but striking while the iron is hot by being informed, joining groups with other investors that invest in the same and surrounding yourself with smarter people will always turn you a profit.
 
Last edited:
Can you explain how crypto pricing is exempt from speculation?
 
byke said:
Can you explain how crypto pricing is exempt from speculation?
Click to expand...

Never said it wasn't, but speculation isn't what drove it's initial adoption or its run up to $19k. Bitcoin was driven by illicit goods trading, illicit currency transfer (most of it in Asia) and massive market manipulation. Take those away and you have nothing more than a poor store of value (no assets supporting it) and a minimally useful currency. And the argument that the cost of crypto mining is the support level is just patently retarded.
 
Slippery slope here. People love cash for the same reasons and the value of gold is derived from jewelry, which is pretty worthless, imo.
 
Many of the late adopters, like those Climber was describing, have lost their ass, but..quite a few people have made quite a bit of money. People love to hate on it, but there's nothing wrong with investing in crypto as long as you know what you're getting into.
 
HappyHighwayman said:
What % of people who have "invested" in Crypto have made any kind of profit?
Click to expand...

I've made a decent amount of money from it. Was going to buy the Vitipilen with some of my earnings until I rode it. Now I've got my eyes set on a new bike which will be paid in full with earnings from crypto.

Trading is helping me get closer to my goal of owning a house in the bay area. I'm also learning a lot about other markets which is wonderful.

With all that being said this hasn't come without it's losses as well. The market is crazy but if you pad yourself than you can lessen the damages when they occur. Something I had to learn the hard way but I learned it. My first lose was to the tune of 7k within a matter of minutes.

Outside of myself I know a few folks online but the majority of people have lost their asses.
 
Last edited:
byke said:
Slippery slope here. People love cash for the same reasons and the value of gold is derived from jewelry, which is pretty worthless, imo.
Click to expand...

Cash is backed by the full faith and credit of the richest nation on earth and is the single most liquid currency on the planet. So yeah, it's not exactly the 'same reasons' as crypto.

And gold has a myriad of industrial uses, though I'm not a fan of gold as an 'investment' either.
 
byke said:
Many of the late adopters, like those Climber was describing, have lost their ass, but..quite a few people have made quite a bit of money. People love to hate on it, but there's nothing wrong with investing in crypto as long as you know what you're getting into.
Click to expand...

Agreed, as long as you don't call it an investment. There is no underlying income producing asset. It's speculation/gambling, not investing.
 
Entoptic said:
It was before the hindsight and through most of the thread if memory serves me correct. Also I don’t need hindsight, if you like I can post wins but prefer not to do so.

Why not offer up a tip or two on how to invest in btc?

Hindsight is cool but striking while the iron is hot by being informed, joining groups with other investors that invest in the same and surrounding yourself with smarter people will always turn you a profit.
Click to expand...

I’d hardly be offering up tips on investing in something I’d never touch.
Bitcoin falls somewhere between investing in the stock market and buying lottery tickets, closer to the lottery ticket end of investing.
 
Chet said:
Tax loss harvest for the coins and stocks overall for 2018.
What a year investors !!! Welcome to the new economy !!!
Click to expand...

I particularly wonder about all the crypto kiddies that traded their way into a paper crypto fortune in 2017, which would incur a huge tax liability because of short term gains, and then HODL'ed into huge capital losses in 2018 that can't offset their tax liability.

Maybe most of these people never touched USD in their crypto trades, and just didn't report their gains in 2017?
 
Archimedes said:
Cash is backed by the full faith and credit of the richest nation on earth and is the single most liquid currency on the planet. So yeah, it's not exactly the 'same reasons' as crypto.

And gold has a myriad of industrial uses, though I'm not a fan of gold as an 'investment' either.
Click to expand...

Not exactly the same, but you just introduced a new angle. I was talking about the illicit stuff you said before. Of course they won't be the same, because...they're not the same. But from the illicit stuff, you left it short...what were we to infer? Criminals love it, ok, aaaaand? That means it's shit? My point with the cash comparison is that whatever you wanted us to infer from the illicit stuff, parallels to cash. So if crypto is shit because criminals love it, then cash is even worse because criminals love it and the gov't supports it.

On the gold, that's what I said derived. Only relatively recently has gold actually become somewhat useful. The foundation of its value literally comes from "ooohhhh shinyyyyy!!!". Cash is piece of paper backed by criminals and the government and has trace amounts of coke and poop on it, neat. All this shows how dumb we are, so if you think crypto is dumb for any reason, then the absolute worst thing you could say about it is..it's par for the course.
 
Crypto doesn't pay dividends, so investing is a zero sum game, For every dollar someone makes someone else lost a dollar.

Since trades cost money, more will have been lost and spent than made in total by "investors".

The middle men have likely done great though....
 
i would never use the terms "informed", "investment" and "smarter people" in any discussion about cryptocurrencies. the prices go up and down. the participants try to buy a dip and hope to profit when the prices are up. the cryptocurrencies are not tied to any income-producing asset; the prices swing madly without any rhyme or reason (but are probably only reasonable to those who know they can influence the market).


for some lending institutions, gaining from cryptocurrency trading is not a recognized form of income when applying for a permanent modification on a mortgage. until cryptocurrencies can reach a level of acceptance by large institutions, buying and selling them is nothing but a form of gambling
 
Last edited:
Aside from the differing levels of third party recognition, all that stuff is just the same as any other market. Don't do the tribal thing and reject the other riders because they're on harleys. Technically different, but realistically the things you listed are all the same.
 
bpw said:
Crypto doesn't pay dividends, so investing is a zero sum game, For every dollar someone makes someone else lost a dollar.

Since trades cost money, more will have been lost and spent than made in total by "investors".

The middle men have likely done great though....
Click to expand...

Need a pair of Levi's? A spare gold pan? Shovel?

:teeth
 
Blankpage said:
I’d hardly be offering up tips on investing in something I’d never touch.
Bitcoin falls somewhere between investing in the stock market and buying lottery tickets, closer to the lottery ticket end of investing.
Click to expand...

Won’t offer up any tips on investing but you’ll negatively comment on it and the people talking about it like you know what’s up. Why is that? I find these sort of comments so funny because the people I know that are making big money in crypto are all stock/futures investors.

How’s that stock market doing for yah? Huge dip recently. Did you make any money?

AwakeNAlive said:
i would never use the terms "informed", "investment" and "smarter people" in any discussion about cryptocurrencies. the prices go up and down. the participants try to buy a dip and hope to profit when the prices are up. the cryptocurrencies are not tied to any income-producing asset; the prices swing madly without any rhyme or reason (but are probably only reasonable to those who know they can influence the market).


for some lending institutions, gaining from cryptocurrency trading is not a recognized form of income when applying for a permanent modification on a mortgage. until cryptocurrencies can reach a level of acceptance by large institutions, buying and selling them is nothing but a form of gambling
Click to expand...

There is a reason and pattern to a lot of it. Most recent crash was because of the bch/bchsv battle. I’m sure all the people commenting have in depth knowledge of it and how it affects the crypto market, just look at most of the CNN/MSNBC comments in here lol. There's a lot people who just do investing for a living trading crypto and are making huge profits.

Your post reads like so many others in this thread of uninformed individuals that talk about news snippets with no real knowledge of crypto/trading.

You also mention that large institutions won’t get involved but somehow CME, the worlds largest exchange, has btc futures.

I’ll agree it’s not mainstream and probably never will be but to call it gambling is to admit any form of stock/futures/bonds is gambling as well.
 
Last edited:
You must log in or register to reply here.
Back
Top