I'm not sure about "scam." I totally understand skepticism and share in a lot of that. Although I have played around with it in small dollars. I love the concept of a better payment processing system, which I'd actually argue is not Bitcoin itself anyway.
The thing about calling it a scam, is to me that implies fraud or ill intent.
I think the “scam” comes in the hype machine built around it. Like you’d have to be retarded to believe that the like d-list celebrities they’re paying to claim they will literally never sell their bitcoin at any fathomable price are being genuine, but it seems like some people are falling for it.
Not sure, I haven't been keeping up on all the news. My point still stands though, whether you love or hate crypto, rich people and groups are pouring money into it to get out of the dollar.
I think it's safe to assume he doesn't know the full context and is commenting on hearsay.
From his point of view it makes perfect sense, because Bitcoin is actually another currency however I don't think it's accurate to say it's competing against the dollar.
He should look into the "why" and "how" and maybe change his mind.
Back in the day I mined a few coins in a pool to see what it was about and sold them a few years ago for about $50k.
Personally I see Bitcoin and other cyrptocurrcies more as an indictment that none of the markets are good right now. People see little upside in traditional investments and that’s not good long term for most people.
It’s why I got out of equities in the last year and sitting in a lot of liquidity. Granted I’m not super concerned about growth so much as asset preservation at this point in my life and we own about 75% of the portfolio is in tillable ground. We can afford to have cash sit around when soybeans are $16 a bushel.
I wish I hadn't been so busy at the time to pay attention. I was in the middle of working full time, trying to finish school, and moving to another state when that stuff was all new. If it had been 10 years earlier when I was a young bored computer nerd I'd probably have millions worth of the stuff.
I'm with you though, they are buoyed a lot by the weakness of other investments. I'm only in stock markets inside retirement accounts anymore, a lot of which I don't have a ton of choices in anyway. Although, I've been on a bit more of a spending spree than holding onto cash. Lot of not very liquid investment stuff like real estate and the like. Even some odd things like "self-investment" meaning I've been doing trade school. For no reason other than to learn.
I'm not sure about "scam." I totally understand skepticism and share in a lot of that. Although I have played around with it in small dollars. I love the concept of a better payment processing system, which I'd actually argue is not Bitcoin itself anyway.
The thing about calling it a scam, is to me that implies fraud or ill intent.
I think the “scam” comes in the hype machine built around it. Like you’d have to be retarded to believe that the like d-list celebrities they’re paying to claim they will literally never sell their bitcoin at any fathomable price are being genuine, but it seems like some people are falling for it.
I think you'd also have to be retarded to think that big institutions are buying up large Bitcoin investments with the intention of losing money.
Not sure, I haven't been keeping up on all the news. My point still stands though, whether you love or hate crypto, rich people and groups are pouring money into it to get out of the dollar.
I think it's safe to assume he doesn't know the full context and is commenting on hearsay.
From his point of view it makes perfect sense, because Bitcoin is actually another currency however I don't think it's accurate to say it's competing against the dollar.
He should look into the "why" and "how" and maybe change his mind.
Back in the day I mined a few coins in a pool to see what it was about and sold them a few years ago for about $50k.
Personally I see Bitcoin and other cyrptocurrcies more as an indictment that none of the markets are good right now. People see little upside in traditional investments and that’s not good long term for most people.
It’s why I got out of equities in the last year and sitting in a lot of liquidity. Granted I’m not super concerned about growth so much as asset preservation at this point in my life and we own about 75% of the portfolio is in tillable ground. We can afford to have cash sit around when soybeans are $16 a bushel.
I wish I hadn't been so busy at the time to pay attention. I was in the middle of working full time, trying to finish school, and moving to another state when that stuff was all new. If it had been 10 years earlier when I was a young bored computer nerd I'd probably have millions worth of the stuff.
I'm with you though, they are buoyed a lot by the weakness of other investments. I'm only in stock markets inside retirement accounts anymore, a lot of which I don't have a ton of choices in anyway. Although, I've been on a bit more of a spending spree than holding onto cash. Lot of not very liquid investment stuff like real estate and the like. Even some odd things like "self-investment" meaning I've been doing trade school. For no reason other than to learn.