Quote from: Oliver the Second on June 18, 2024, 08:38:49 PMWarren Buffet said to never invest in something you don't understand and I don't understand how Crypto can have any value when it has nothing backing it up.

Right, and the US dollar used to be backed up by a store of wealth in gold before it switched over to the petrodollar. Thanks to Biden's mismanagement you cannot rely on even that to back up the greenback now, or indeed any currency that employs the greenback as a reserve currency.

People still use it though, don't they? Bitcoin is no different in that respect. Any tradeable token you care to name is worth whatever people agree it to be worth.

And with governments around the globe saber rattling about going to a cashless society in the form of central digital banking currencies (which are essentially state operated bitcoins), it would make sense for them to scare the smaller investor away from any competing currency that the state does not control in order for the state to maintain its hegemony over your finances.

The day is approaching where I shall be able to say "I told you so".

Quote from: Oliver the Second on June 18, 2024, 08:38:49 PMWarren Buffet said to never invest in something you don't understand and I don't understand how Crypto can have any value when it has nothing backing it up.

Its OK to take a chance on bitcoin....but not if its $60,000 US per 'coin'.

The racehorses have already left the gate. There's really no sense in chasing it. It's gotten away.

May as well look for the next speculative entity. Or Apple, or Microsoft or Apple.

Actually theres a lesson to be learned here Oliver the Second llie. While it pays to invest in blue chip stocks, leave a bit left over for speculation. I don't necessarily think every investment should be safe. Upwards of $10,000?

I'm quite positive theres another bitcoin type investment waiting to be hatched. Just have to do some research and look for it.

Too late for bitcoin tho. It's too high now.

Quote from: Oliver the Second on June 18, 2024, 08:38:49 PMWarren Buffet said to never invest in something you don't understand and I don't understand how Crypto can have any value when it has nothing backing it up.

Same here. I invested in sound companies with real assets.

Warren Buffet said to never invest in something you don't understand and I don't understand how Crypto can have any value when it has nothing backing it up.

Is Crypto a scam? This video says so.

This thread topic is gay.

Quote from: JOE on June 15, 2024, 08:47:05 PMPlus there has been so much money printing and stimulus by the US fed to prop up the markets & economy to unnaturally high levels.

I suspect bitcoin is highly correlated to these stimulus measures as well.

No matter what happens over the short term, you will still get your allowance to buy chocolate coins. As you keep me satisfied in bed, I promise you that.

Plus there has been so much money printing and stimulus by the US fed to prop up the markets & economy to unnaturally high levels.

I suspect bitcoin is highly correlated to these stimulus measures as well.

Quote from: caskur on June 15, 2024, 03:15:39 PMStay away from the stock market.

Put your money, 80% of it say in a fixed interest account and don't touch it for a year.

Give yourself a breathing space and don't be in a rush to buy anything.

I wouldn't let you spend anything.

Well caskur caskur bitcoin isnt the stock market

Mind you, I believe the stockmarket which would include bitcoin, is due for a correction in 2025 after the US election.

Even if theres no crash I suspect 2025 will be a slow year for speculative commodities. It has to be because the stock market and I suppose bitcoin made huge gains this year. And often a good year is followed by a mediocre or poor one. Ie 2021 was good but 2022 was poor. 2024 has been good so 2025 probably not so much.

Quote from: JOE on June 15, 2024, 01:58:23 PMI'm interested in acquiring bitcoin or crypto.

However, I just don't wanna pay for it.

Anyone else in the same boat?

I just don't wanna pay for something which I don't consider 'real' or isn't a tangible asset like gold, land or a similar physical item. I also think that it's beneath me for something which used to sell for $1 to $12 each and now it's being flogged around for $60,000 US or more. That's the equivalent of 25 ounces of pure Gold.

There's no way I'd spend money on something like that.

Anyways I've started to research how it's possible to acquire bitcoin or crypto in the year 2024, without paying for it.

However, a few of you here and in other forums have scoffed at some of these ideas. Yet I'd like to revisit them see if they are still feasible.

Essentially, there are 2 methods I think a person could acquire bitcoin or crypto for FREE, without paying for it.

1. Bitcoin mining
2. 'Earning' bitcoin
3. Other methods

1. A number of you here have said this is no longer possible in 2024 like it was in the past. But I've thought perhaps(?) this might be possible if you have an infinite renewable energy source to power a bitcoin rig/computer

a. How about Solar power?
b. or Hydro Power (such as running stream)

These power sources you don't pay for, they are just provided by nature and they power they bitcoin rig(s). Plus they are infinite provided the rigs themselves don't break down.

2. Earning bitcoin

...that is, selling NFT's or Non-Fungible tokens. I've heard that people just create digital assets/entities such as photos, videos or illustrations created on their home PC's, upload them to cyberspace/NFT forums and people pay for them in ethereum on the block chain. So I'm not sure if there's still a market for this sorta think in 2024. Or...if they acquire enough ethereum and it's possible to sell them for hard cash and convert or buy bitcoin thrreafter. While you'd be paying for the bitcoin, at least you don't plunk down humongous amounts of cash or yer paycheck doing it. More like the crypto was given to you through earnings selling NFT's.

3. Other

....but I dont' know of any. Perhaps someone can suggest alt methods if they are aware of them

Anyways, I don't suggest that any of the above are viable/feasible. But yer more than welcome to poke holes in my assumptions or offer your own suggestions.

Just curious, that's all.

Honeybunch, did you trade the chocolate coins you bought with your allowance I give you for comic books again?

Poor advice

Quote from: JOE on June 15, 2024, 02:12:27 PMwell, in that case, how about making NFT's, selling them online in NFT forums/marketplaces, then whatever they pay in, convert them into bitcoin? Likewise, I suppose it's like buying silver and if it goes up enough, or faster than the rate of gold, sell the silver and buy the gold. so maybe crypto operates along the same lines/principle?

Stay away from the stock market.

Put your money, 80% of it say in a fixed interest account and don't touch it for a year.

Give yourself a breathing space and don't be in a rush to buy anything.

I wouldn't let you spend anything.

Don't buy bitcoin.

It's a con.

Quote from: Lokmar on June 15, 2024, 02:08:17 PMYou missed the boat, josephine. Now you have to buy professional grade mining cards and run em in a big server rack. Solar panels arent free either.

You'd be better off buying bit coin on the next dip.

well, in that case, how about making NFT's, selling them online in NFT forums/marketplaces, then whatever they pay in such as ethereum, convert them into bitcoin? Likewise, I suppose it's like buying silver and if it goes up enough, or faster than the rate of gold, sell the silver and buy the gold. so maybe crypto operates along the same lines/principle?

You missed the boat, josephine. Now you have to buy professional grade mining cards and run em in a big server rack. Solar panels arent free either.

You'd be better off buying bit coin on the next dip.