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re: This is precisely how I feel about bitcoin.
Posted on 1/30/26 at 4:12 pm to Bass Tiger
Posted on 1/30/26 at 4:12 pm to Bass Tiger
quote:
Not really. There is a speculation component shared by BTC and buying stocks but when you buy stocks you're generally buying part of a hard asset comprised of buildings, equipment, a workforce, and a finished product or service.
The stock market is also speculating.
And people aren’t buying stocks hoping to sell them for less than what they paid.
I’m not saying it’s the same. I’m saying one of his arguments for it not being the same isn’t that.
You are still speculating and you are still hoping that they trade higher down the road.
There are also investments that don’t pay dividends. So that alone isn’t a difference either.
This post was edited on 1/30/26 at 4:21 pm
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Posted on 1/30/26 at 4:46 pm to bhtigerfan
Being dumb isn’t illegal
Posted on 1/30/26 at 4:51 pm to bhtigerfan
So a little like gold?
Posted on 1/30/26 at 5:06 pm to lurking
quote:
No I transferred it to the seller’s wallet. Down payment was used loosely. It was more of a “proof of intent to purchase” move more accurately.
So you paid a fee to make the transfer
Posted on 1/30/26 at 5:09 pm to Bunkie7672
I don’t remember what it was, but it was pretty insignificant. I paid a lot more to the attorney to facilitate the deal 
Posted on 1/30/26 at 7:20 pm to Bass Tiger
quote:
+90% of BTC's price is pure speculation
No, it's more 90% tied to cost of miners, power, and block difficulty/combined network hashrate.
quote:
The first time some bad actors introduce some malevolent code into the blockchain you'll see how speculation works.
Posted on 1/30/26 at 7:27 pm to lurking
quote:
No I transferred it to the seller’s wallet. Down payment was used loosely. It was more of a “proof of intent to purchase” move more accurately.
That's legit awesome
I used to see a lawn mowing service around my area that accepted btc, litecoin, and maybe eth... but it's been a minute since I've seen him around town. Like close to a decade ago, because ltc Posted on 1/30/26 at 7:40 pm to bhtigerfan
quote:
Bitcoin's success is predicated on other people buying in and hoping somebody will buy it for more than them someday.
Wow
Bobby Sauce was today years old when he figured out wealth storage.
This post was edited on 1/30/26 at 7:41 pm
Posted on 1/30/26 at 7:42 pm to LEASTBAY
quote:
dollars are not very efficient to move large sums.
Are you assuming using actual bills? I’ve moved tens of millions of dollars in a single transaction. It was very easy. There was some nuisance security stuff - had to go to my bank in person - but it was still fairly easy. If I wanted to use bitcoin for any of those transactions the answer would have been “No.”
Posted on 1/30/26 at 8:20 pm to Penrod
Right. But to other countries it's difficult.
Posted on 1/30/26 at 8:35 pm to LEASTBAY
quote:
Right. But to other countries it's difficult.
I bought a house in England. It was harder than if the house was stateside, but it wasn’t terrible. We had to go through an intermediary iirc.
I tell you what was bad. We couldn’t get a bank account there unless we had a UK cell phone. Guess what you need in order to get a UK cell phone - that’s right, a UK bank account. Eventually we got the cheat code, which was to get a burner phone, then the bank account, then the real phone. But for a while it was like taking crazy pills.
Posted on 1/30/26 at 9:04 pm to bhtigerfan
quote:
This is precisely how I feel about bitcoin
quote:Have you ever met anyone say they’re a bitcoin baller? I haven’t. There is no marketing team because bitcoin isn’t a product. It’s notoriously unapproachable.
It relies purely on the endless enthusiasm of its owners who constantly prop it up to encourage more people to buy. Once you're an owner, you are part of the marketing team.
Posted on 1/30/26 at 9:14 pm to bhtigerfan
Bitcoin’s only effective use as a currency was for drugs and gambling. No other industry does any serious volume with it other than the exchanges, which should be lumped into gambling
Posted on 1/30/26 at 9:24 pm to Penrod
quote:
I bought a house in England
If you wanted some Muslim cultural enrichment you could have just visited Minnesota
Posted on 1/30/26 at 10:29 pm to bhtigerfan
quote:
This is precisely how I feel about bitcoin.
Educate yourself. This is mostly wrong.
It’s crazy how dumb people are in this thread. At least learn some basics before trying to discuss it.
Posted on 1/31/26 at 6:10 am to lurking
quote:
If you wanted some Muslim cultural enrichment you could have just visited Minnesota
My daughter and grandchildren are there. Believe me, where I bought there is 0.0% muslims.
Posted on 1/31/26 at 6:17 am to CamdenTiger
quote:
True, but it’s devalued almost every day, a depreciating asset. Could argue that the stock market doesn’t go up either, it’s just the dollar constantly devalued. We are actually in a weird default if that also makes sense
Bingo, the stock market DOESN’T go up as related to precious metals, as the value of the dollar goes down as the market goes up. The only thing propping up the stock market is the consistent weekly influx of dollars to spend (and they must be spent) coming in from 70 million 401k accounts.
Posted on 1/31/26 at 6:30 am to CamdenTiger
quote:
True, but it’s devalued almost every day, a depreciating asset. Could argue that the stock market doesn’t go up either, it’s just the dollar constantly devalued.
That seems like a bad argument.
Posted on 1/31/26 at 6:38 am to Nosevens
quote:
With zero military & oil reserves to back it up
Crypto is never going to be cash, but it's certainly possible you have countries that adopt certain ones as their official cryptocurrency. Whenever that happens, it does provide some official backing.
Posted on 1/31/26 at 6:44 am to bhtigerfan
I don't own anybitcoin,, but it you cant convert it to dollars what good is it to you? serious question
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