The story was, I believe, a number of years ago a guy sold his bitcoin to buy pizza , at the time it wasn’t worth a lot. That’s why Papa John’s came up with the idea.
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I think ive got 0.000034 or something like that, anyway its was only about £100, and i lost the wallet passkey years ago.
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Ive only got 1% of a bitcoin. It was worth about $350 when i bought it 2 years ago and now the price has risen is worth about $700.
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I have an amazingly disappointing experience with bitcoins and if i shared it i doubt anyone would believe me anyhow
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If I get a back payment on my disability due to a recent court hearing. I may use the sum on bitcoin, it would be like 1/10th of a coin. Not a full coin.
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I hope you win your case in court @anon54334749
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Unfortunately, bitcoin and its many cryptocurrency derivatives are based on speculative investments where an idea can bring one fortune. I congratulate those who have profited from cryptocurrencies as its value has increased over the past year. However, with no government backing of those cryptocurrencies and no real financial statements to show its revenues, profits but also losses. The cryptocurrency bubble will burst in time. I believe that the reason why the US Government has allowed cryptocurrencies to continue trading is because so many people have invested money in it and to just shutdown or cease cryptocurrency trading would result in tens of millions of people losing their savings.
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Isn’t ethereum based on a tangible infrastructure?
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What kind of infrastructure?
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Ah. It’s still digital. I get your point.
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Cryptocurrencies are a lucrative, get rich quick scheme. I’ll give it that. But similarly to lotteries, casinos and sports betting this type of money is speculative money unlike the equities stock market where money is earned through revenue, profits and losses. 2x types of money as taught in the school of economics.
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I didn’t and I’m glad I didn’t.
I liked the original goal of bitcoin and I might have gotten involved back then but never as an investment, because an investment in bitcoin is purely speculative. I might have spent bitCoins not hoarded them like a maniac going off of greater fool theory.
Turning anything into a speculative asset is just about as evil as it gets, so no and I’m glad I didn’t because you have no idea how guilty it would have made me feel to have the same realizations I had if my hand was in the proverbial cookie jar. I don’t judge people who engage in speculation as evil because it’s fun and innocent looking(plus people encourage it, call it wise even) and boy do I see the appeal, but the act itself? It’s just about the definition of the appeal of evil.
In my worldview if you lose money in an investment whose sole purpose was to make you money, you are a sucker, if you make money with it you are an A-hole. I am perfectly fine being neither, thank you very much.
An investment should be in something you believe in, basically even if you lost money there should still be a range of acceptance where you are happy in your investment despite the loss(an example of this can be collecting things, or investing on something because you want to see IT grow, not its value), otherwise I’m sorry I know nobody wants to hear it, myself included, but it’s just evil. Gotta tell it like I see it, you see it differently good for you, I wish I saw things like you, I don’t.
P.S. Also, just so we are clear, in case it’s not enough to read between the lines, investing in stocks, bonds etc. generally speaking, no bueno in my book. Again, unless there’s some form of passion behind that makes it so that even if you lost money you’d go, “Money well spent”, to an extent at least. Although I do see the call of “if you can’t beat them, join them”, especially in America where that’s your only way of achieving a pension of some kind for your Golden years because, and I can’t stress it enough, the whole speculative system is in place alongside inflation in a “Join us or see yourself wither and die” type of scenario, really no good options in sight, but those that don’t do it consciously because they feel like they have to and understand how macroeconomics affect microeconomics like I do, truly pitiful unworthy beings in need of redemption.
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Imo. Stock market is also speculative. The only difference is that it is based on balance sheets which are regulated or enshrined into law
Im related to accountants for ftse500 conpanies and when I’ve heard about how their balance sheet projections work. It’s all speculated
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Those highly valued companies which are well known brands such as Amazon, Google, Microsoft, Tesla, Apple etc… on the DJIA are too expensive for average stock holders to purchase. Only very wealthy people can buy these expensive stocks and profit from them.
The stock exchange is speculative in regards to those penny stocks or equities that the average person can buy. No rich person would buy penny stocks.
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@Pettyx There are people who make a living doing speculative trading or in other words “gambling with money”. These people are basing “their bets” on mathematical statistics & probabilities for a certain event to occur. If they guess right on their certain “event to occur”, they profit from it. If they guess wrong, they lose big. These people also know when to enter the “certain speculative market” and when to exit as timing is key here.
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Mine is at £71 … £10 from Papa Johns and £25 invested in 2021. Not bad
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I trade stocks and do that.
Bitcoin will eventually lose 99 percent of its value in my opinion.
However, it doesn’t mean anything is stopping it in this bull market.
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Yes, and? Some people make money defrauding people, that requires skill as well. I don’t see your point. I studied economics, I even spent periods checking stocks regularly, I am certainly more aware about the mechanics than the average person and I understand the effect that the stock market has on National and International economics. What’s worse I understand the relationship between value production and resource allocation. I also understand the effect market growth has on wealth distribution. I would love not feeling morally obliged to not invest my money, I even had a small mental breakdown because of my conflicting desire to invest and moral stance.
I am not saying it out of spite or not understanding something, especially not something as basic as what you put forth. I am saying it because I look at the data and it speaks of smaller interests trampling larger interests all the way down. From National interests overruling International interests to the individual gaining at the expense of the collective. You don’t see it? Good for you as I’ve said, it’s not a great realization to have, I am not even trying to let you come over to my side of the fence on the issue, I’ve been on your side and the world looks like a much better place to be in on your side. Knowledge of Good and Evil and all of that. I ate from the tree, screw me I guess.
If you have better arguments I am all ears, I’m not just open to change my mind, I actively want to change my mind. Problem is I’ve spent a lot of time and effort looking for any excuse to stay on your side of the fence. I didn’t find any. I don’t have any axe to grind with people who do invest whatsoever, heck I considered it as a career path back in the day. Trading stocks even looks cool to me.
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No, but my friend used to use it many years ago when it was 100 bucks per coin, as currency on websites that weren’t on the up and up.
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