Bitcoin

[moneymaker]

I think the reason the “founder” is distancing himself from bitcoin is probably because (educated guess)he used what is considered highly classified crypto code. Of course he can’t comment.

[The-Shoveler]

One major problem I can see with something like bitcoin is it tries to pretend to be Gold (only it’s not gold)
Now let say you could take out a 30 year mortgage that you pay in Gold and only physical Gold (that something like bitcoin pretends to be).
OK so say your mortgage is 1.5 ounces a month (in physical Gold), “what’s that $2500.00 or so”
Now 29 years later your payment is still 1.5 ounces a month (in physical Gold).

Can you see the problem with that, just saying.
That is why deflation will not be allowed to happen IMO.

[The-Shoveler]

It also explains how a seeming small and logical change was the great destroyer of the american dream.

1981 OER.

it was right there in plain English and no one even noticed,

[earlyretirement]

[quote=AN][quote=temeculaguy]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.[/quote]Why would anyone every put stock (no pun intended) on anonymous stranger stock pick? If any of us is any good, we’d be sitting on our own island enjoying the sun instead of posting on here.[/quote]

I’d have to agree with you AN that I wouldn’t put much “stock” in financial advice from anonymous people on the Internet. It’s been my experience that people like to play up their winners and downplay their losers.

Many people like to talk about their big successes but not too many like to talk about their failures. We’ve addressed this in other posts on this subject. Most people I have met only talk about their winners not their loser investments.

As far as bit coin goes, I never got into it although I have a few clients that have done well with it. I see situations like Mt. Gox and just shake my head. True cash isn’t paying much of anything but it would have sucked to have been one of the many that got wiped out at Mt. Gox.

http://www.pcworld.com/article/2105280/10-questions-on-the-mt-gox-implosion.html

[temeculaguy]

It’s sound advice to not listen to strangers but I am one of a few hundred who listened to strangers on this very site and it worked like a charm. The difference is that what they said jived with what I was feeling and was also consistent with what I could see with my own eyes. What it did was reinforce what my uneducated mind felt, with facts, examples and data. I will eternally be grateful to piggington and it contributors over the years. It’was an education that I will never lose. But make no mistake, we were all contrarians and thought differently than the masses. The problem is that view doesn’t apply to all situations, however the formula does. Credit Rich and many of the original gangsters, approach everything without bias, look at the facts and the data and remove as much emotion as possible. Don’t just look at it and think it’s going to fall apart and plan accordingly, only act that way of the data supports it. In 2006, that theory applied to local real estate, however it didn’t apply to stocks in 2008. Some people get get locked into a play, be more flexible. It’s like blackjack, you play your hand based on what it is, but also what the dealer is showing. People forget to factor the dealer’s card too often, I have. Right now it’s 2014, the dealer is showing a different card than it did in 2006 and 2008, and the stock market, and the real estate market have different dealers.

Personally, I think the future is bright, but it doesn’t mean that every bet and every card will be what you want. You still have to analyze the data, look at the dealers card and play the odds. No matter how good the future looks, never hit a 16 against a dealer 5. But it depends on the table you are sitting at and the dealers cars, because sometimes you should take a hot card on 16. In 2008 I should have. That part of my education had a pricier tuition than most, but that’s all it is, tuition and it will always be money well spent.

[svelte]

[quote=moneymaker]I think the reason the “founder” is distancing himself from bitcoin is probably because (educated guess)he used what is considered highly classified crypto code. Of course he can’t comment.[/quote]

Yeah, I got this vibe also.

Things are too sketchy with this whole thing for me to put any of my money there. I may miss out on some big profit, yes, but that also comes with big risk.

[Author]

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