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Bitcoin/Ethereum/Litecoin

Discussion in 'Investment and Retirement Planning' started by mrivc211, May 31, 2017.

  1. Itchy

    Itchy Well-Known Member

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    9 grand today. Sure wish I got in $500 when I was first trying to wrap my mind around the whole idea of it.
     
  2. mikecweb

    mikecweb Third Generation Arizonan

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    Al Gore did porn?
     
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  3. NovemberEcho

    NovemberEcho Well-Known Member

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    It's an inconvenient truth
     
  4. Cherokee_Cruiser

    Cherokee_Cruiser Well-Known Member

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    Bitcoin/Ethereum/Litecoin:

    The fact that pilots are investing in it and recommending it to others tells me to run far, far away.....
     
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  5. ATN_Pilot

    ATN_Pilot Socialist Pig Member

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    I was sitting in Culver's tonight having a burger and some loudmouth in the next booth was telling his buddy "what you need to invest in is..." He listed off about a dozen stocks that have already had huge runs to all-time highs, and he actually said "what you need to do is stop paying any attention to value metrics at all, 'cause these stocks are just going to keep going up and up!"

    Reminded me of the dot-com days when every cabbie and hairdresser had a hot stock tip...right before it all collapsed.
     
  6. Cherokee_Cruiser

    Cherokee_Cruiser Well-Known Member

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    Another example was a couple years ago it seemed quite a few pilots were 'investing' in Zeeker / Zeek Rewards. Online penny auction, something about investing 1,000 / 5,000 / 10,000 dollars which are used for bids by customers. And then there was a monthly account fee (or some BS) and you could use your "daily profits" to pay that off. "All" you had to do was advertise for Zeek once a day on a forum, website, online social media, etc. That's it :rolleyes:

    There were just too many red flags and luckily I declined. 3 months later, the SEC shut them down for being a ponzi scheme.
     
  7. bimmerphile

    bimmerphile SuperCritical™ Member

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    Wow, that's a hot take!
    Tell me, was there a reporter at WSJ whose main focus was Zeek rewards?

    Do yourself a favor and read some of Paul Vigna's articles on cryptocurrencies. It'll be something intelligent to talk about when you're flying your 95 hours of transcons in a month

    Sent from my SM-G900V using Tapatalk
     
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  8. ATN_Pilot

    ATN_Pilot Socialist Pig Member

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    There are reporters who have spent decades covering technical analysis of stocks. Doesn’t change the cold hard fact that technical analysis trails the market, as demonstrated by study after study after study. Saying a reporter covers something is an odd defense of it.
     
  9. bimmerphile

    bimmerphile SuperCritical™ Member

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    CC is comparing bitcoin to some pay to bid auction site. I supplied a reputable source from a reputable outlet who has experience writing about the topic for someone to educate themselves. It's an interesting subject and I don't think it deserves to be belittled.

    Sent from my SM-G900V using Tapatalk
     
  10. ATN_Pilot

    ATN_Pilot Socialist Pig Member

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    The concept of blockchain technology is an interesting subject that doesn’t deserve to be belittled. As for crypocurrenty, well, that’s a different story.
     
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  11. z987k

    z987k TeamANC

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    So the price just keeps climbing. Which means people see value... a LOT of value in it today. But I've yet to have anyone explain how it has value.
    It is a currency, which means a medium to exchange for goods and services. But that is one thing it is terrible at due to it's volatility. Say you wanted to buy a car with it. What on earth do you charge? It would change by the minute. Today a corvette is 5 BTC, tomorrow it's 2.5, the next day it's 11. I can't think of a more worthless form of money. So seeing that it has no value as a currency, why do people want it?
     
  12. wheelsup

    wheelsup Well-Known Member

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    The value in an of itself is irrelevant. It allows the secret purchasing of goods and services as long as it can be instantly converted to local currency.

    There are services that will let you pay with USD, convert to Bitcoin, transfer the money, then convert back into USD. It's absolutely brilliant for the underworld. Pretty much no way the government can track the flow of money.

    That is the value I see, but just owning it I don't see a value. The actual currency having value I question.

    https://www.cnbc.com/2017/11/30/now-you-can-pay-your-rent-in-bitcoin.html
     
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  13. Cherokee_Cruiser

    Cherokee_Cruiser Well-Known Member

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    Ouch, sounds like I accidentally hit a nerve and didn’t mean to. I will say, and will always say, never invest in something airline pilots talk about as if it’s the next hottest thing in investing. I don’t even care what it is. If it’s in flight decks talked about on a recurrent basis over many flight, I want nothing to do with it. I make my own investment decisions based on my own studies and what I think is best - and then keep that to myself. No one else should care or even listen to me... I’m not a financial advisor and certainly not a fiduciary.

    As for this bitcoin crap, all I know is there is a reason we’re the worlds superpower and have fought wars over issues like oil. The biggest benefit is the Federal Reserve and the US Dollar being the world reserve currency. Oil is traded on the US dollar. That is the ultimate power. The day the US dollar is no longer reserve currency, no longer traded in oil currency, and the federal reserve falls apart, is the day I’ll take all my US dollars and invest it into another form of currency.

    As it stands today, no thanks. Keep your two-bit coins ;)
     
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  14. wheelsup

    wheelsup Well-Known Member

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    Well that day is coming faster than you think. China is opening up a gold backed oil burse this year that allows countries to bypass US sanctions and the USD.
     
  15. ATN_Pilot

    ATN_Pilot Socialist Pig Member

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    “Price is what you pay. Value is what you get.” - Warren Buffett
     
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  16. Cessnaflyer

    Cessnaflyer Wooooooooooooooooooooooooooooooo

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    Damn, it keeps going up. If I put my initial $1000 in back when I was listening to a podcast where they were talking about bitcoin in 2013, I would have $78,000!
     
  17. wheelsup

    wheelsup Well-Known Member

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    Yeah I heard it hit $20k or something. Crazy. I dunno.

    I have heard guys who started mining ops a while ago are now making $300/day. I can't imagine being a kid in high school making over $100k.
     
  18. Apophis

    Apophis Resident Iconoclast

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    I'm really glad I'm not heavily (or at all) invested in Bitcoin. Imma go grab some popcorn and wait to see how big this bubble gets before imploding like a house of cards.
     
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  19. Cessnaflyer

    Cessnaflyer Wooooooooooooooooooooooooooooooo

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    Yeah, that's why I've been throwing my gambling money at it.
     
  20. NovemberEcho

    NovemberEcho Well-Known Member

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    That's how I look at it. Probably have a better chance at making money on bitcoin than I do at blackjack, and I love me some blackjack. So long as you can afford to lose your investment there's really no big deal
     
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