[quote=temeculaguy][quote=afx114][quote=temeculaguy]Or maybe it’s just some guys who went to harvard and think that they are smarter than you and will get you to give them your money.[/quote]
Or maybe one could take the initiative to do some research and read up on the technology and how it works so that we can have an actual discussion on the pros/cons rather than a series of lazy dismissive comments?
A virtual currency is inevitable. It may be Bitcoin, or it may be some other technology. But the underlying fact is that our current systems are obsolete in today’s insta-economy. In 10 years we will laugh at having to wait 7 days for a wire transfer. By then we’ll feel about today’s banking the same way we now feel about sending a hand-written letter via the post office.[/quote]
I did my research, I watched the facebook movie. Twice!
The lazy and dismissive comments were intentional, I’m dismissing bitcoin as nothing more than a fad with only money launderers as true customers. I can transfer money in seconds, online or in person, what does bitcoin do for me that doesn’t already exist with traditional currency. How does it offer international asset storage that gold doesn’t already offer? I am not a rare niche consumer, I’m mainstream and I have no need for it, nor do most people. It is more likely to not exist in ten years than to replace government currency. You buy it, I won’t and we will just have to wait and see how it turns out.[/quote]
CEO’s committing suicide, hackers stealing it, half the exchanges going under and founders running from being identified as being founders. Fine, don’t listen to me, I’m outdated, I’m not doing research. Piggington attracts an ecclectic mix of eccentrics. They are incredibly fun to follow and learn from, sometimes they are way in front of the curve, but for gods sake don’t listen to 90% of them for financial advice.
some good writing on this page by me, what an egomaniac I can be.
I lacked the energy to find my 2008 meltdown posts where I chose to poll this forum regarding a windfall of 6k that I had in 2008 when the stock market crashed. I had seven stocks I was considering putting 1k each into and figured I would use the group consensus to drop one. After all the advice I didn’t buy any of them, which was an epic mistake as most doubled, tripled or went up ten fold by the end of the year, all are still riding high. For a while I calculated my loss, 10k, 20k, 40k, as the months went on it got worse, now I don’t want to know, It makes me angry. I should have bought Ford at $1, Harley at $8, Costco at $45, Homebuilder K Hovnanian at 53 cents, the list goes on. But everyone said buy gold, ammo and canned food. This is a niche, local real estate, that’s it. A one trick pony that make one trick ponies seem diversified. The rest is noise meant to amuse.
I hate saying I told you so, but bitcoin will fail, their replacement will fail, read back 7 years, I’m rarely wrong. And following advice regarding real estate within this forum now has me up 250k. As far as other investments, I missed at least 50k when I checked a few years ago on those stocks I mised out on, I don’t really want to know today’s number because I’m sure it’s worse.
Passing observation, oil is a bubble right now. We use less, vehicle efficiency is moving faster than population increase and will continue that direction. Plus the US is moving closer to energy independance each day. It will be propped up to keep that technology and domestic infrastructure investment moving forward but it’s got the future of the Argentine Peso. You’ve been warned.
