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Scap

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Dec 1, 2012
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5,214
Fair. And like I said, if it's an investment vehicle, it's different.

But kona is talking about my USD are going to be worthless soon. And that's just not happening when you've got stories like that from coinbase.

They've been worthless for years.
We just think they have value.
 

ChuckJr

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Apr 22, 2021
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1,095
The official, worthless, US issued ones are printed on both sides with anti-counterfeit measures included. Those will be OK!
 

CgarDan

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Jun 18, 2006
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4,110
For me its 100% investment. yes, this is current but these people were hacked because of their negligence. Not because of anything Coinbase did. If they lost their money due to a flaw on Coinbase side they are insured to cover those costs and as a public company you would be able to sue them for their negligence.

If you talk to anyone on crypto its not smart to leave your money on an exchange anyways. I keep all my crypto investments on a hard wallet stored in a safe.
I agree an account being hacked is a security issue that is similar to having your online bank account or trading account hacked at any online brokerage. By the way Coinbase is one of the safer crypto exchanges. All balances in usd are protected the same as a bank account by fdic up to 250k. And 98% of all crypto kept in the exchange is on cold storage and stored in safety deposit boxes located around the world
 

kona1000

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Oct 10, 2009
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Haven’t been around for a bit.

‘crypto’ and Bitcoin are totally different.

Bitcoin is immutable digital store of value.

CRYPTOs are shit.
 

CigarStone

For once, knowledge is making me poor!
Joined
Mar 7, 2007
Messages
8,389
My honest opinion, is that I missed the boat on this. I remember a friend telling me about Bitcoin years ago, when it was $200/coin. I was going to invest at that time, but didn't. Fast forward and it's now almost $40,000/coin.

My main issue is that I have no clue about it. I've read up on it, but still don't understand what it truly is. The other thing that scares me, is that it's all electronic and like Chad stated, if something happens and I lose the storage, it's gone. Cryptocurrency isn't backed by any banks, will it ever be backed by something similar to the FDIC?
Brandon, don't worry, every fad has it's meteoric rise followed by it's meteoric fall. Yes, if you had invested at the right instant, you could have cleaned up ....... if you got out. As @CigSid Bill said, the basis of cryptocurrency is founded in an infrastructure that is less stable than a house of cards in a wind storm.

Listening to a cryptocurrency zealot is like listening to a Browns fan guarantee you they were going to the Super Bowl. Like Tom Petty said, "you believe what you wanna believe"
 

Rod

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Jan 4, 2001
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10,176
BTC price - $21,298.
Great time to buy the hardest money in the planet. 21% inflation- Immutable unconfiscatable with a limited supply.

Couldn’t agree more. BTC and ETH are probably the safest of all crypto. Next bull run is going to be massive.
 

CBoukal

Impeached Staff Member
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Dec 9, 2011
Messages
5,504
Sorry @kona1000 and @Rod after the huge drop and people running from Crypto, I think it needs to be said that people should treat this more like gambling than investing. Only spend what you are willing to lose all of.
 

Rod

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Not saying you are wrong, just think people need to at least hear it isn't a sure thing by any stretch

You are absolutely correct, nothing is a sure thing. Anything can happen. Currently crypto is seeing a lot of gov't intervention, however the nice thing about certain crypto tokens is that they are completely anonymous and non-centralized (how it should be). Without getting into politics, I am very concerned about where the dollar is going. The past year has been the worst inflation in the past 40+ years and projected to only get worse. With this whole OWG push (some of you know what I'm talking about), I see things getting worse. We're in strange times right now, and protecting your money is critical. Even real estate is about to see a significant drop across the board. In my opinion, the only few things left to secure your money is precious metals (gold, silver, etc) and certain crypto's. There are a ton of scam crypto's out there, so you have to be careful and know what you're investing in. I've been watching crypto for a very long time, and still believe BTC and ETH are amongst the safest.
 

tomthirtysix

Wishing I was as cool as Phil
Joined
Dec 27, 2006
Messages
6,803
I’m going to post some references for people.

The fact that 25% of the USD in circulation was printed in 2020 and 75% of all USD in existence was printed in the last 10 years




I won’t post again until we hit 75k.
These "references" are disingenuous at best. 75% of all USD in existence were printed in the last decade because roughly 95% of the notes printed each year are used to replace notes already in circulation.

Don't worry, if you have a rebuttal, you don't have to wait until BTC 75K to reply.
 

kona1000

Buy Bitcoin
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Oct 10, 2009
Messages
2,199
In the famous words of Satoshi Nokamoto-,” if you don’t understand it, I don’t have time to explain it to you.”

You get the price you deserve.

Bitcoin is the only ‘crypto’ to buy. All other ‘cryptocurrency’ is a scam.

Good luck with 21% inflation. Bitcoin is not an investment it is a way to save money. You don’t sell bitcoin you hold it.
 
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