So Great depression in 10 yrs. Sounds about right.
One of my fears is that I’ll decide to retire right when the depression comes and I’ll be hit with and extremely unfortunate sequence of returns. I just want to take my lumps now and get it over with.
I’ll never understand American businessmen who think that they’d be fine in a lawless world. Bro you weren’t selected for that. The Russian oligarchs… they’ll be fine. That’s because they’re already mafia chiefs who live in a lawless world where disputes are settled with bombs, poison, and bullets.
Every last marshmallow among them would be some gangsters bitch the third day after the end of the government. Libertarians are like anti vaxxers in that the only reason they exist is that the memory of life under actual feudal warlords is no longer part of living memory. They think modern governments are thieves… they should experience the kinds of tax rates professional killers assess when you’re negotiating the ‘please don’t kill me’ clause of your security contract.
You could easily take your lumps now and then take them again then!
I’m not so worried about a Great Depression type scenario ever happening again unless the USD ceases to be the worlds reserve currency. (Which is certainly possible, but likely there would be lots of bloodshed preceding it, which is certainly possible.)
Ask the Catholic Church.
Dude they definitely use their money. Those settlements don’t pay themselves.
Have you ever toured the Vatican? They probably had to mortgage one or two Michelangelos to pay for every molestation case.
And a single one of those people selling would tank the entire market.
https://twitter.com/naval/status/1345564424770240513
There you go guys. Old rules don’t apply anymore. We’ll all just remotely create for each other on social media and pay each other in BTC.
As long as Door Dash takes crypto and delivers actual food, I don’t see any flaws in the new world.
“This time is different.”
This is the most Bitcoin video ever. And mind you this is the CEO/Founder of a company that made a huge bet on BTC and had their stonk go up 200%+ since.
Yep… BTC can solve any problem. It’s anything you want or need it to be to convince yourself it’s going to save the world and be worth one billion.
I’m mostly buying some because people with this much conviction exist. If they’re right - I win. If they’re wrong but still manage to pump the price they’ll be too deeply entrenched to admit it and will just buy my bags anyway. I’m well aware this could blow up any day, but for the meager amount I’ve invested the upside potential is worth the gamble to me.
Crazy bubbles don’t happen w/o starry eyed true believers.
Dotcom IPOs went nuts because people thought they were getting in on a rocketship at ground level. The people I knew who were super excited about the Facebook IPO just wanted to make 50% then exit. Totally different dynamic.
So can someone explain to me like I’m 5 years old the best way to get started investing in bitcoin. So far, all I’ve got is make an account at coinbase and buy some bitcoin. Then you have to have a wallet somewhere else to hold the bitcoin? Is that about right?
Here are some more specific questions:
It sounds like coinbase requires a bunch of personal info, but I thought one of the advantages of bitcoin is that you can do transactions anonymously. I don’t get how that works if you provide all your info and all the transactions can be traced to you. I guess I don’t really care that much, as I would really just buy and hold. I’m just trying to understand how the whole thing works.
I’m surprised there aren’t any ETFs or similar vehicles that just track bitcoin and other cryptos. Have I just not found any or is there a reason they don’t exist. Dealing with those seems like it would be better than setting up extra accounts of any kind.
I believe a few have applied and been shot down by regulators. There is word of a new SEC filing just in the past couple of days.
Edit: apparently Bloomberg doesn’t understand that people might link their articles on a website.
coinbase is a legal exchange, so it has to go buy US rules which means they have to know everything.
You can get bitcoin elsewhere now but any legal US exchange is gonna do that to you.
So all these places where “you can get bitcoin elsewhere” are illegal in the United States?
Yeah, but anything short of total collapse and the billionaires will always find a place to happily live out their retirement years.
There aren’t many straight up exchanges in the US for a reason. Though I believe paypal/square do it now too.
So are these other exchanges legal in other countries and just not the US or are they more or less illegal everywhere?
And if they do exist, what is to stop an American from just going to the website and using it. Are they less secure? Are they so illegal that you’re going to be sweating jail time?
There’s a BTC ATM in a gas station by my house. I have no idea how it works or what it does.
There are many exchanges that do not accept US customers the same way some poker or gambling sites do not.