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08-18-2020, 03:09 PM | #29 | |
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Trust me I get it.... You have no FDIC protections. You can be hacked, personally or even in any one of those "crypto-vault" things You could forget your password / lose your encryption key But the kicker is, its vapor-ware, not real money, just a promise of "money" that cost real money to get......or electricity if your a "farm" (and the cost of video cards). Some even think (not me) its the harbinger for the return of the beast (666 and all that, or a cool Iron Maiden song). Bottom line is, at least in my opinion, its a pyramid scheme. Someone at the top is getting stupid rich, the people below are going to lose their shirts when the pyramid comes crashing down. But now its virtual, all smoke and mirrors with a few who will do OK and the rest getting hosed. Your money, not mine, waste it as you will...........
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08-18-2020, 03:11 PM | #30 |
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Who else was SHOCKED by Domino's pizza!!!!
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08-18-2020, 03:16 PM | #31 | |
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I am a high risk high reward kind of person. I just spend an enormous amount of time to educate myself along the way and take educated measured risk. Some of the "centrally controlled" operations do have insurance on crypto funds now but only the crypto held on their system. The true "decentralized" platforms are a lot riskier and I keep very little capital there. Blockfi has FDIC insurance on US dollar holdings and insurance on crypto holdings. BTW I am a big real estate guy and my total cryptocurrency investments are less then 10% of my net worth. I went heavy into it but I am not dumb.
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08-18-2020, 03:20 PM | #32 | |
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I would love to invest early in something, anything, then have it blow up in value, but I'm just not the type of person who gambles with money. I also don't day trade or flip stocks constantly. I'm sure a smarter person could figure things out, but then again, I look at guys like Jim Cramer, and I ask, if I did nothing but follow all his advice, would I be rich? I don't know, but he is probably smarter than me about picking successful stocks, yet I have seen many articles say that following his advice would be a wash or worse. This tells me that playing stocks, like playing crypotcurrency, is like gambling, at least at my level, and I don't gamble. https://www.cbsnews.com/news/a-stati...s-skill-level/
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08-18-2020, 03:24 PM | #33 | |
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08-18-2020, 03:35 PM | #34 |
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People be trading in Domino's is like people be trading in tulips.
https://en.wikipedia.org/wiki/Tulip_mania Really though, their revenue is in the billions, so their stock is legit. How can one of the worst pizzas have the most revenue, regardless of stock? Then again, the top performing chains are all crap pizza selling in volume franchises, but Domino's is even doing better than Pizza Hut with less locations, so I guess we gotta give it to them. I just don't eat fast food or in restaurant chains, but I guess a lot of people do.
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08-18-2020, 03:39 PM | #35 | |
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https://cointelegraph.com/news/inves...e-a-618-return As long as you are not in cash and own assets you are protected from the Fed printing dollars at unprecedented rates. How much do you trust the bankers that created this debt system with ever increasing bubbles? In 2008 people lost their minds at $800 billion in stimulus. We just did $3 trillion and are gonna double down. I'm not a dooms day person but I like to hedge my bets.
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08-18-2020, 03:42 PM | #36 | |
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08-18-2020, 04:14 PM | #37 |
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Well.... that's why I said cash, not credit/debit cards, but maybe what you are saying is that you can lose your wallet with no impact with the right protections.
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08-18-2020, 04:20 PM | #38 | |
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08-18-2020, 05:34 PM | #39 | |
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08-18-2020, 06:59 PM | #40 | |
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So blockchain is just a ledger. Every 10 min give or take a new "block" is created. That block is just a list of the transactions on the network. Every movement is tracked. Every computer on the network is constantly verifying the validity of every transaction on the network. For completing these blocks miners are rewarded with Bitcoin. There will only ever be 21 million Bitcoin. Hard cap, unlike the dollar or even gold. That is why Bitcoin is concerned the hardest of money. If you study the history of what is called fiat currency or any paper money then you know that every currency controlled by people or more appropriately Bankers has failed. Mainly through banker greed and debit. The United States has had over 8,000 failed currency's. The dollar was only created in 1913 along with the fed and the IRS so you had to go collect dollars to pay the tax man. So the theory is that Bitcoin has value because we can verify where each Bitcoin is. But not just where each Bitcoin is. One Bitcoin can be broken into 100 million pieces or satoshis. At any point you can go and look at the blockchain and verify where each Satoshi is. And well yes something only has value if people believe in it. You have thousands and thousands of computers supporting this network. Even Goldman Sachs earlier this year admitted to that after the Corona virus crash the fact that Bitcoin was the first asset back to even shows its store of value. To understand the scale of the computational power being used on the network to support this The network is doing over 25 quadrillion equations per second. There's about seven quadrillion grains of sand estimated on Earth. Sorry if I missed anything. I wrote half that waiting in a parking lot but it's a high level overview. I'll re-read it tonight and might expand if I shorted something. Sent from my Pixel 4 XL using Tapatalk
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08-18-2020, 08:25 PM | #41 | |
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09-09-2020, 05:27 AM | #42 |
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