1. We are currently experiencing issues with viewing and uploading images, our team is working on the issue.
    Dismiss Notice

bit coins for dummies like me.

Discussion in 'The Black Briefcase' started by Stealthstyle, Jan 22, 2017.

  1.  
    kaka420

    kaka420 Well-Known Member

    In my lifetime, yes.
     
    Jimmy Verde likes this.
  2.  
    dannyboy602

    dannyboy602 Well-Known Member

    See the problem im having with all cryto currencies is that the whole premise relies on internet and moreover, electricity which in a collapse of a society which I feel in our case is inevitable the system won't function.
    I think silver is the best bet. Small, easily handled and will work for things like milk, bread, stuff like that.
    I cant see cryptos lasting into the next paradigm.
     
    Lucky Luke likes this.
  3.  
    kaka420

    kaka420 Well-Known Member

    I personally don't believe the hype of civilization collapsing. Could it, sure but I don't see it happening. Holding bitcoin is no different than having cash in a bank, or stocks in a brokerage account. If the power goes out you are screwed there too.

    I wouldn't not invest in bitcoin because you fear the end of the world. Silver has damn well been the same price for how many years now? It did make it close to $50 a few years back but the bankers shorted it right back to the teens.

    Bitcoin on the other hand was $4 a few years ago, today its damn well $2800. I believe (know) we'll see the same type increase over the next 6 years.

    Buy silver, buy gold, buy cryptos, buy land, buy assets but I wouldn't overlook cryptos.
     
    Jimmy Verde and dannyboy602 like this.
  4.  
    Jimmy Verde

    Jimmy Verde Well-Known Member

    All I know is my homie has "100k" worth of bitch in that' he had been purchasing over the years n he didn't pay anywhere near that for it lol that shit went up like crazy
     
    dannyboy602 likes this.
  5.  
    Jimmy Verde

    Jimmy Verde Well-Known Member


    Definitly would like to hear more from you
     
  6.  
    Lucky Luke

    Lucky Luke Well-Known Member

    if 1 bitcoin is worth like 3k. How do you buy small priced things with it?
     
  7.  
    kaka420

    kaka420 Well-Known Member

    You don't have to spend an entire bitcoin. You can spend 0.004 if you wanted. You could also purchase $10 worth of bitcoin on the exchanges if you wanted. Don't let these high prices of a full coin keep you from putting a little money into them.
     
  8.  
    dannyboy602

    dannyboy602 Well-Known Member

    Still...my whole thing against bitcoin is its not a physical money unit...silver is...economy collapses and silver becomes money again. Gold is too expensive for most ppl. Silver rules in my book. No electricity no problem. No internet no problem.
     
    Jimmy Verde likes this.
  9.  
    kaka420

    kaka420 Well-Known Member

    Ten years ago silver was $15-20/oz, today it still is! Sure silver and gold should be part of everyones holdings. 6 years ago bitcoin was $4-15/bitcoin, I know because it was one of my playgrounds. Today it is trading in the $4300 range.

    If the power/internet ever go down you will have real problems with silver or not. Most would be dead within a year and food, water, and medicine would be much smarter to stack if that is your concern.

    Investing is about diversification. Put yourself in a few different baskets. Silver is great but it is controlled by the federal reserve. Supply and demand mean nothing to them, they can dump a boat load of paper silver and dump the price as much as they want.
     
  10.  
    dannyboy602

    dannyboy602 Well-Known Member

    Its hard to look at your avi and convince myself you know what you're talking about. Haha. You sound believable though...Thx for the advice.
     
  11.  
    Mullumbimby

    Mullumbimby Well-Known Member

    How are you feeling today Bob?
     
    kaka420 likes this.
  12.  
    kaka420

    kaka420 Well-Known Member

    It was $4300 when I posted, currently $7150 today. Yesterday it hit $7900 but the news of the latest fork being suspended dropped the price a little. Im saying $10,000 by Christmas. $15-27,000 by this time next year.
     
    dannyboy602 likes this.
  13.  
    Jimmy Verde

    Jimmy Verde Well-Known Member

    Let's all pool together and get rich lmao
     
    dannyboy602 likes this.
  14.  
    kaka420

    kaka420 Well-Known Member

    Okay, buy some, send them to me to hold for the pool and I'll let you know when you are rich.
     
    dannyboy602 likes this.
  15.  
    Jimmy Verde

    Jimmy Verde Well-Known Member

    Lol now everyone BUT u gets a lil piece the pie
     
    dannyboy602 likes this.
  16.  
    kaka420

    kaka420 Well-Known Member

    Thats the beauty of bitcoin. You don't need people with less experience, you don't need banks and you don't need a govt.
     
    dannyboy602 likes this.
  17.  
    Observe & Report

    Observe & Report Well-Known Member

    Right now the price of BitCoin is driven by speculators. Some loud noise is going to spook some of them and then you'll have a stampede for the door. When that happens, BitCoin's limit of seven transactions per second and the lack of volatility controls is going to make things very very ugly. The price will plummet as people lower their asks to jump the line of people trying to get out. Then the price will return to whatever the real value is based on it's utility and speculation will start again.

    BitCoin's killer app is outside the USA/EU where banking is not as reliable or available. It's still very early days for that though.
     
    dannyboy602 likes this.

Share This Page