i was talking to mom this morning about this, i have little skills, but if i had money i could pay people to do things for me. do you ever feel like, money is a conspiracy of lazy people paying people to do things for them?
I think they got to be successful by not being lazy. Of course, there are instances where thats not the case, but those are in the minority.
It takes skills to manage money and to invest it.
I pay a guy to mow my lawn and I pay a guy to shovel my snow.
Money is a form of exchange for goods or services. In ancient times, money was in the form of gold, silver and bronze coins because of the value of the metal. Paper money only became available with the institutionalization of banks. Nowadays paper currency is considered fiat money as the worth of paper money is only supported by the government. Humans are entering into the digital age where electronic transactions are taking place without a tangible medium of exchange but rather through the Internet. The digital age brings up the question about Bitcoin and or crypto-currency where there is no government backing in this digital currency.
Why is Bitcoin so high and gold has hardly moved? I can’t figure that one out.
I think some people view gold and metals markets and the markets in particular as being manipulated. Elon Musk recently suggested “bitcoin was too high” and it dropped from 57k to 47k. Bitcoin is modern gold or whatever you want to call it. Some people say it’s just an asset while other people view it as money.
Bitcoin is either overvalued or undervalued. I think it’s undervalued. I believe in the long term economics of it. I will be cutting back on my drinking and buying some sliver of bitcoin each month so I hope it drops a bit because it’s cheaper. I think most people who know what they’re doing think that. Microstrategy ceo said in the news (IIRC) bitcoin future market cap is 100 trillion dollars. That’s quite optimistic. If it hits 10 trillion that’s great because that roughly means 500k a coin. I think it could hit 20 trillion market cap but I don’t know when. A lot of folks say sooner than later, but then get it wrong. I think I’m safe to say it’s going to take 50-100 years to cap it roughly 2140 when the last bitcoin is mined rofl. I mean it can either be worth zero, tank some more, or hit the moon. The sky is the limit.
Everyone needs freaking money. Nobody can survive without it.
This is all my opinion, and psychic and paranormal beliefs of past lives in different/alt realities. Sort of like a time loop. People ignore me and hate me for saying it, but I believe I got some ‘insights’.
I’m mainly concerned about it being de-legitimized than regulated (smart regulation = good), and then NP=P and quantum AI computers, I guess. That’s strar trek stuff. But then everything is screwed, not just bitcoin.
Well I don’t want to blow money paying someone to do things for me. With my arthritis, I getting to the point where this is what I’m going to have to do.
and then you got bill gates complaining about bitcoin.
Similar to the stock market, Bitcoin’s rise in price is based on speculation. Don’t be surprised if Bitcoin suddenly drops in price all of a sudden. Bitcoin has no government backing which is one reason not to invest in the crypto currency.
That’s sort of bullcrap^^
I mean I don’t live in China so I cannot speak for them. In America, early on, I think Bitcoin was taboo and stuff. It’s gaining mainstream support now. I don’t really need the government to back it. The network is safe except personal wallets and hackers and stupidity. I think that’s the flaw or is motivation to get better at security and safety and better practices. Why should the government bail out someone who forgot their password? I’m sure there will be some companies that will provide insurance and other methods of security and protection.
FDIC only insures 250k at a bank per individual account.
I put in 100 bucks in bitcoin and it went up to 150ish a month later, 50% return. If bitcoin goes up 10x, 100x, that’s 1000, or 10000. Not bad for a poor guy with little to no investment or risk. 100 bucks isn’t a lot of money especially for the average american. I’m thinking about my future. Only way bitcoin could be destroyed is in a 51% attack or a NWO type event or volcano or asteroid. Can’t rule out a black swan event or God’s inevitable wrath (I’m a Christian). I think Bitcoin is still not used widely for actual purchases and there is indeed speculation going on – which I think is natural.
I’m definitely not a fan of criminals using bitcoin or other means and I’m sure it pissed of the banks and their media companies that are criticizing it. Fiat money = wars, poverty, and crashes and the white collar criminal banksters get a slap on the wrist and get away with their crimes due to the presitge and money they have and make + legacy.
Obviously, I think most anti-bitcoiners want it shut down as it competes with the NWO-type people like Bill Gates.
quantum computers + more efficient means of mining = more profit and scalability + cleaner energy. I’m a huge fan.
I read an article that said the corporations are going to do more and more of their business on the internet in unbreakable code. Because of that the government won’t be able to tax them, and being thus deprived of funds the government would shrink to a much smaller size. This whole scheme makes me very uneasy. Governments have much better checks on their behavior than the corporations have. Some governments are corrupt now, but with the free press and the drive towards increased democratization in societies world wide governments can be kept in check. The corporations have many fewer checks on their behavior, particularly if they’re conducting most of their business in unbreakable code on the internet.
how is bitcoin an asset, it’s a currency, not an asset of real physical wealth, i think the whole thing is speculation. it was initially offered for $4 or $5 dollars a coin, if it’s not speculation what is it? i guess i don’t understand it, but would never invest in it.
It’s going to take time. I don’t even know. I’m no expert. I haven’t even read the white paper. Each to their own I guess.
Haha money good! I need all i can get. Support money is very little i get.
I need about 500k-1mm to retire and be happy. More the merrier I guess. I wouldn’t want to be filthy rich, just enough to live comfortably and help others and give back and leave the remaining amount to my descendents and family.
There will be government regulation on corporations no matter what medium corporations decide to do their transactions with. Taxation is such a large topic when dealing with corporations as corporations are taxed at a higher rate than personal income taxes. Government’s regulate businesses in all industries except those industries which are emerging such as autonomous vehicles. Corruption occurs in democracies. There is no perfect form of government.
Macroeconomics in the majority of free market economies state that governments need to be involved when issuing currency whether the money supply be M1, M2 or M3. China has a different economic system driven by a different market economy.
I do not see Bitcoin succeeding unless there is government involvement in its regulation.