My nephew is LOADED with that Gold...
well, he's 6 ... but hey you never know, he could be the next virtual Gold T y koon ( i had to mis spell that on purpose)
LOL
I did some reading on this BITCOIN stuff...
There are also a couple of good Youtube videos on it.
They tell you DONT hold on to it,, SPEND IT or use it. You cant store it, not a good idea. Why ?
For a "money" that claims its NOT like our FIAT currency backed by nothing, which through the printing of more money could be made worthless.
Which is TECHNICALLY TRUE, and had happend in some countries.
but WHY would I not be able to hold ON to it ??
Something very fishy with this.. Reminds me a LOT of "BARTER POINTS" from back in the day.. The IRS squashed that shit real fast as I recall.
And same way, you had to keep it moving. it was like a SHELL GAME. if you got STUCK with the Points, guess what, they were worth nothing.
or maybe they are just trying to get a certain # of people to PARTICIPATE, otherwise it just wont work.
Either way, sounds risky.
just my .02
People that say spend it and use it and dont hold to it are the same people that probly have tons of bitcoin and say that so it gain more value and they make more cash.
If you listen to those people, many of them say shit about bitcoin since year's , including the IRS, US gov.. and shit, why they say shit? because they cannot control it...
Let's say 3 month ago you had 100 bitcoin, it was worth 20 000$.. if you had held into it, it would today be 73 000$.
53 000$ worth of income that the IRS / US Gov / any other gov. cannot control, cannot tax, cannot steal if you dont pay tax... That's why they dont like.
If you check the charts of bitcoin, it ALWAYS , SINCE day 1 , been raising. Of course, sometime it raise ALOT , this is when you must sell, and then it go down a little, back to normal raising curve.. when it go down you buy more... then u wait for next jump.. you sell... and so on.. like the stocks, except that the bitcoin cannot be controlled by the gouvernement
why would people invest in STOCKs and not into bitcoin?! Because the gouverment are saying shit about bitcoin, the bank also say shit, lot of people spread bad words, but most of this bad word come from people that profit from everyone that use normal currency.
Bank make 10$ every month with every people that have normal checking account... gouverment make tax on your income.... why would they say good thing about bitcoin .. more bitcoin user = less money for them.
Of course when bitcoin spike to 50% of its value, SELL IT, but then when it go down to its normal value, buy again.. its the only ""valuable"" stock, digital currency, currency, what ever u call it, that has ALWAYS been increasing in value since the DAY one they were created... That is right, it has NEVER went down, except when it suddently had increase of 40-50% in value, then it always go back down to what it was... currently we are on a 3 week spike, it will soon go down, but then it will continue to rise... and rise... Always.. it is rising, since the creation of bitcoin, in 2009.. So yes, it's been 4 years that it is rising in value, it is been 4 years that gouvernement/bank/accountant says DO NOT INVEST IN BITCOIN... and its been 4 years that people that said to them, fuck you, have been making LOT of cash. If you invested $1000 the first time gov/bank said DO NOT BUY BITCOIN today you would have over $10 000 000 in profit from bitcoin.
Unless you invested on google the first day when it was worth total shit, I doubt anyone ever made 1000% to 10000% profit from stocks. But now its too late to invest in bitcoin as they are 10000* what they were worth 4 years ago... People missed the boat, as they did for google stocks, but, people that are playing with bitcoin, people that have them already... why would they sell them???? Because some goverment / bank say shit about it/spread bad words?
I was gonna say... It sounds a LOT like a PENNY STOCK..than " Money"
and btw... I once took a penny stock from like $4,000 total orig investment, to almost $250,000... guess what happened
like a DOPE I bought MORE at the higher share price, diluting my investment... of course it TANKED, and my shares became almost WORTHLESS in the end..
so I ended up with less then what I started with .
Too greedy to sell at the HIGH price, and too stupid to DUMP it on the SLIDE DOWN til it was worth shit..
unfortunately thats HUMAN NATURE
and unless you have a LOT of discipline , its way too easy to fall into that trap..
I do not know much about stock's so I cannot reply nothing to this, but i know about bitcoin.. and how it work, and due to its rarity, its long time required to get it, its expensive cost to mine it... Yes, because the difficulty increase, its harder to mine... The bitcoin will NEVER be under-value to its cost to mine them. I do not know the exact , but, big miner have millions of worth hardware to mine the bitcoin, they earn XXX $ per MH/s they mine, the same MH/s speed will mine less and less bitcoin over time, in 1 year, what was earning (fiction number) 0.09BTC per MH/s , will earn less then 0.01 per MH/s , and then a little after, the same hardware, would earn 0.001BTC per MH/s ... Due to the hardness to mine the bitcoin, that will ALWAYS edit(DECREASE not INCREASE), the bitcoin price will also ALWAYS increase... if it cost $750 to mine a bitcoin(on average) then the price will never be $500 .. in 3 month when it will cost $1500 to mine 1 bitcoin, the value will have increased too.
With more and more people using bitcoin, and it being harder and harder to obtain, costing more and more money per bitcoin to mine... there is no way it decrease.
Of course if one day it increase to $1200 value, SELL IT, because the "real value"(The actual cost of mining hardware / mining difficulty / mining energy...) is much much down.. if it cost 400$ to mine a bitcoin, and the value is increased suddently to $1200 one day... u sell!!
Currently, i would estimate cost of bitcoin to be near 90% of what it would cost me with a dedicated server I could rent. So, if I mined for 1 month with a dedicated server that i would rent for $900 for the 1 month I would earn $1000 value of btc.
If one day I see the bitcoin VALUE and i calculate that the VALUE is MUCH more then what it would cost me to mine it, I SELL!!!, and then when it go back to its normal track, I BUY!!, and so on goes the game.
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