Cryptocurrencies

[brad225]

In 2018 my wife and I talked about it when I brought it up. Being a retired CPA she tends to be more skeptical than I do. Though I am not reckless by any means though some may think that if they're not interested in audio equipment.
In the fall of that year I purchased 1/2 a Bitcoin and figured if we lose the funds it won't change our life. As of the current level in the last couple of weeks up 400-500%. We have not made any decision as to the price that will make us sell. I'm sure it will hit that point sometime.

[Formerly YB-2]

What does a Bitcoin look like? Can you post a pic or two?
That's why I like gold & silver. Feels good in the hand (and safe deposit box).
GLW your crypto-currency.

[PHC1]

One thing that always made me wonder is the end game of cryptocurrency like Bitcoin.

The idea is that many computers are wasting an awful lot of energy keeping transaction records and are mining bitcoin in return. It takes an enormous amount of computers around the world. No one knows for sure how many there are but one thing is clear, they are mining bitcoin and being rewarded.

Bitcoin has a finite number of 21,000,000 coins and the rewards for mining are supposedly decreased periodically to control the circulation of new tokens.

There will have to be fees to reward the record keepers and keep the whole system going.





It is a new frontier for sure but so was the California Gold Rush. Who made the most profit? Shovel dealers. Somehow I think that eventually, the same will hold true with all cryptocurrency.

[Masterlu]

[rnrmf1971]

Interesting fact - Half of one percent of bitcoin owners own 80% of all bitcoin

[62caddy]

I don’t know if everyone’s been following the latest news but apparently one bitcoin owner is unable to retrieve his password from many years ago. He has only two more password login attempts to access his account which is currently valued at $220 million.

[PHC1]

Warrent Buffet on Bitcoin.

https://markets.businessinsider.com/...1-1-1029974898

[antipop]

Originally Posted by cleeds

Quite so! And many of us have seen this before.

Oddly, many of those consumed with the "Irrational Exuberance" recognize - on some level - their lack of reason. They then try to apply logic in reverse; they attempt to construct careful, reasoned argument to support their dreams of riches. It's a classic example of the logical fallacy of circular reasoning/begging the question.

Yes but this time it’s really different

[brad225]

Originally Posted by Formerly YB-2

What does a Bitcoin look like? Can you post a pic or two?
That's why I like gold & silver. Feels good in the hand (and safe deposit box).
GLW your crypto-currency.

Close your hand and then open it up. Whatever you see in the palm of your hand is what it looks like.
I have gold and silver also. This was just a long shot investment.

Remember when people thought that fruit company with the apple logo was crazy? I'm not saying BitCoin is like Apple, just something else that was looked at with skepticism.

[62caddy]

Originally Posted by brad225

Remember when people thought that fruit company with the apple logo was crazy? I'm not saying BitCoin is like Apple, just something else that was looked at with skepticism.

Except there’s a bit of a difference between a fledgling company and this which I’m sure you’d agree.