Off Topic Does anybody understand bitcoin?
- Thread starter Plum
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Do you really need to ask? Do you want a list ...
- Sick of scams
- Effectively gambling. Many will lose good money (as with gambling, you will only likely hear of the wins, not the losses)
- Uses obscene amounts of (carbon) energy
- Often involves illegal activity
- Brings instability
- Will end in tears
- .....
So no real reason then that doesn't cover lots of things In life, if you don't want to get involved with it or understand it then fair enough, but plenty do and why shouldn't they be allowed trade etc if they want to.
Should we just ban everything we personally don't have an Interest in?
Eh? I'm noticing you're very good at re-writing what posters say! I simply said "the sooner Bitcoin ****s off the better". And as you asked, I gave a list, off the top of my head, of reasons why I personally think that.
I agree about the energy use, it is obscene. The rest, well it all happened before bitcoin and it'll keep on happening even if bitcoin goes down the tubes.
For the record I'm not an investor.
Ok my mistake, i shouldn't have said banned... My points still stand, just because you don't like it, understand it or want to be involved, why should it **** off as soon as possible? Should everything you don't have an interest in just "**** off the sooner the better"
Some may claim it's investing. If I give some money to a bank they will pay me some interest and the bank has some safeguards if it goes bust. Buying into an investment fund, pension fund or stocks and shares directly carries more risk but the law says the risks have to be explained to me, they also have rules to stop dodgy trading.
It's another form of gambling and largely unregulated. If you understand that and are happy with the risks then go for it.
Your spot on and it basically is an unregulated investment if you want to describe it in simple terms and if you don't want to be involved then that's a personal choice, but just because a person doesn't want to/understand it or doesn't like it. It doesn't mean those who do and want to be involved shouldn't have the chance to.
There is lots of things I don't like/understand or want to be involved in, but I don't think they should "**** off the sooner the better"
I have interests in a few different crypto currencies, but I do so knowing full well the risks and only invest a level that I am comfortable losing completely if the worst should happen.
Haha Ok... Well you don't wanna be involved in it for whatever reason that may be, so just ignore it, don't bother with it and let those who do want to be involved just crack on.
It still doesn't mean it should "**** off the sooner the better"
I don't know anything about bitcoin, but your last paragraph is absolutely spot on.
Simply don't gamble what you aren't happy to lose.
I used to do the horses, but I soon learned this rule.
Just don't gamble on anything that might make you lose sleep at night.
Maybe what should **** off is some of the hysteria and hype that goes with it.
When it comes to crypto or investments, try and stick to a simple rule.... Take your initial stake/investment out as soon as you can and then your playing with the houses money and the worse you'll ever do is break even.
"Fancy 100 acres of Floridian swampland?"...C.Ponzi
I have a large tract & plenty of alligator meat to harvest.
Caveat 1: Don't hit your golfball into the wet bits
https://en.wikipedia.org/wiki/Swampland_in_Florida
Caveat 2:...
[HASHTAG]#askwarren[/HASHTAG]
https://www.forbes.com/sites/zackfr...en-buffett-will-never-own-it/?sh=2eb8d96142bb
I have a large tract & plenty of alligator meat to harvest.
Caveat 1: Don't hit your golfball into the wet bits
https://en.wikipedia.org/wiki/Swampland_in_Florida
Caveat 2:...
[HASHTAG]#askwarren[/HASHTAG]
https://www.forbes.com/sites/zackfr...en-buffett-will-never-own-it/?sh=2eb8d96142bb
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So, if we think something is bad, we should just ignore it and let others crack on without having the right to voice an opinion? Aye, ok, right.
There are lots of things I wish would '**** off the sooner the better". Bitcoin is just one of them (for the sorts of reasons given in that non-definitive quick list). In my opinion, it isn't a positive thing at all.
Regarding understanding it etc, I have a professional background in finance & business, and an avid interest in personal finance. .
Apologies that I have an opinion.
CarlisleTigerII
Well-Known Member
crypto currencies will eventually be adopted by the worlds financial systems- the economies of the world are severely ****ed and although the central banks refuse to open their eyes and see it they will continue current monetary policies that are paradoxically the reason why we are slowly sinking into mega ****dom.
Currencies become fiat, asset bubbles pop and despite central banks feverishly trying to print more money to stem the slide we will eventually reach peak ****ed. At that point we will have a reset and that is where cryptos will come into their own.
Would I invest in bitcoins now? I wouldn't touch them with yours never mind mine. They are volatile in the extreme and unless you are a particular;arly savvy investor and get your trade right you will crash and burn , crying into your chips as you slink home and drum up the courage to tell the trouble she will have to sell the house and live in a cardboard box on Prinny ave!!!
Caveat emptor was never more suitable
Currencies become fiat, asset bubbles pop and despite central banks feverishly trying to print more money to stem the slide we will eventually reach peak ****ed. At that point we will have a reset and that is where cryptos will come into their own.
Would I invest in bitcoins now? I wouldn't touch them with yours never mind mine. They are volatile in the extreme and unless you are a particular;arly savvy investor and get your trade right you will crash and burn , crying into your chips as you slink home and drum up the courage to tell the trouble she will have to sell the house and live in a cardboard box on Prinny ave!!!
Caveat emptor was never more suitable
Maybe everyone could get together with Ehab and do this. We would be able to fund any players we want without infringing on any regulations regarding FFP or anything else it seems.
https://www.dailymail.co.uk/sport/f...signing-sensational-summer-deal.html#comments
https://www.dailymail.co.uk/sport/f...signing-sensational-summer-deal.html#comments