If you have a billion "dollars" in bitcoin........

DdBob

DdBob

Dogue in teh desert
.....are you really any better off than the hobo giving proctology exams under the bridge? i mean what can you buy with it other than ? can you buy a slurpee at 7-11 ? Can you buy a big mac or take a vacation ? Can you buy a McMansion ? I guess you could buy a set of bedsheets or a lamp on Overstock.com or some illegal stuff on the darknet but otherwise in the real world i don't see it's use.

What am I missing :confused:
 
Lerxst said:
You can turn your bitcoin into cash and spend that places that do not directly accept bitcoin
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can you sell like 1/230th of a bitcoin or do you need to sell a whole bitcoin for like 11,783 dollars ? Since bitcoin magically appeared it could just magically vanish couldn't it and there's no federal back up so one minute you're a bitcoinionaire and the next you're living in a van down by the river
 
It’s tricky. You need to know what you are doing. It’s like playing in the stock market basically. Your bitcoins can be stolen if you aren’t careful with the key.
 
DdBob said:
can you sell like 1/230th of a bitcoin or do you need to sell a whole bitcoin for like 11,783 dollars ? Since bitcoin magically appeared it could just magically vanish couldn't it and there's no federal back up so one minute you're a bitcoinionaire and the next you're living in a van down by the river
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That's true of pretty much any form of money.
 
as far as i'm concerned, bitcoin =
th
 
Bitcoin has been very good to me, and it's easily convert-able to cash. FYI there is a Bitcoin ATM does the road from our condo in Costa Rica.
 
I'm not interested in it as an investment vehicle. To me the whole thing feels like a pump and dump being done on a vehicle where there is no regulations related to doing a pump and dump. I have no idea if it is a scam or anything, it just feels a bit too Wild West for me. I'm old enough that I prefer stability over mad gains and volatility. If I was young, I might put some cash in with the goal of selling at a set gain, but, now I wouldn't pay much attention to whatever I would be willing to lose on Bitcoin. I'm playing the long game.

As far as cashing out, I read that there were max sell per day caps on the exchanges. I can't put my money in something that regulates when I can get it. I have enough investments in in 401K like stuff/retirement accounts. I don't need more restricted accounts.
 
Tiltsta said:
I'm not interested in it as an investment vehicle. To me the whole thing feels like a pump and dump being done on a vehicle where there is no regulations related to doing a pump and dump. I have no idea if it is a scam or anything, it just feels a bit too Wild West for me. I'm old enough that I prefer stability over mad gains and volatility. If I was young, I might put some cash in with the goal of selling at a set gain, but, now I wouldn't pay much attention to whatever I would be willing to lose on Bitcoin. I'm playing the long game.

As far as cashing out, I read that there were max sell per day caps on the exchanges. I can't put my money in something that regulates when I can get it. I have enough investments in in 401K like stuff/retirement accounts. I don't need more restricted accounts.
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I can’t speak for all exchanges, but the one I use doesn’t have restrictions. The fact that is unregulated it the entire point. I won’t go into why here. It makes doing business Oversea’s much simpler and has become the preferred way to pay or get paid when doing international transactions.
 
reverend1 said:
I can’t speak for all exchanges, but the one I use doesn’t have restrictions. The fact that is unregulated it the entire point. I won’t go into why here. It makes doing business Oversea’s much simpler and has become the preferred way to pay or get paid when doing international transactions.
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Unregulated is a cool concept, but in the era of ISP tracking, I wonder how legit the idea is. One can add double jump, double tunnel VPN on top of that, with sick encryption, but with all the government backdoors written into software, I am skeptical. Anyway, I have no issue with the 'anonymous' nature of the vehicle and the uses thereof. I just worry that it seems risky as an investment,.
 
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Tiltsta said:
Unregulated is a cool concept, but in the era of ISP tracking, I wonder how legit the idea is. One can add double jump, double tunnel VPN on top of that, with sick encryption, but with all the government backdoors written into software, I am skeptical. Anyway, I have no issue with the 'anonymous' nature of the vehicle and the uses thereof. I just worry that it seems risky as an investment,.
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It’s more about governments artificially manipulating the value/use than anything else for me. I don’t care about trying to hide anything. PayPal holds are way too long for large international transactions and wire transfer fees are getting out of control.
 
If I would have bought bitcoins a few years ago I would love to be selling them now. I didnt tho, and Im sure as shit not buying any now. It's a huge bubble just about to burst.

Nothing increases in value this quickly that ISNT a bubble
 
2manband said:
If I would have bought bitcoins a few years ago I would love to be selling them now. I didnt tho, and Im sure as shit not buying any now. It's a huge bubble just about to burst.

Nothing increases in value this quickly that ISNT a bubble
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yea.....that's a big part of my non-interest in it. the leaps and bounds bitcoin values have taken can't be anything but artificial. manipulated some how. who the hell is going to buy them at 11k now, when they were dollars a few years ago?
 
GomezAddams said:
That's true of pretty much any form of money.
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No it isn't. Banks who are insured by the FDIC have your deposits backed up to 250k at each bank. Which leaves the actual US dollar which is no longer backed by silver or gold, but it is tied to the health of the country. So dollars will become worthless when this whole country is ready to fall, bitcoins will be become worthless at infinitesimally less significant and capricious event.
 
Some interesting Bitcoin food for thought: https://grist.org/article/bitcoin-could-cost-us-our-clean-energy-future/

Essentially the claim is that because of the increasing computational power involved in making new bitcoins (which is baked into their design, to control their supply), the Bitcoin economy is using an exorbitant amount of electricity, and if it continues to grow as it has recently, will cause serious problems because of this.
 
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