michael94
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- Joined
- Oct 11, 2015
- Messages
- 2,419
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Can someone knowledgable on bitcoin explain to a novice?
Explain how thousands of NEETs are going to become millionaires from investing in cryptocurrency and rise up to rule the world.Explain what?
if you bought say 250k 1.5 years ago, and sold it now, you would have roughly 16 million in profit. if you bought 250k 8 months ago, you would have roughly 4.25 million. if you buy 250k now and the price keeps going up, and sell later you will profit whatever % it has increased. the coins should only be worth 1-2 thousand, yet due to a influx of people purchasing/mining them, they're worth 16-17 thousand. this usually indicated that the bubble will burst and the value will go back down to it's true value. under those circumstances 250k would only be worth 30k, so a loss of 220k. then again this a new market so it's tough to be as sure about this, compared to the housing bubble which was obvious to anyone in the know-how. it's possible to take cues from the dot com bubble, but even that was a different beast. some people say it will crash at 20k, other 100k, and others saying it will keep going up even past a million. it all depends on how much risk you want to take on as there is no actual material that you are investing in like you would a house, or public stock etc. the value of a bit coin is only based on what it is currently selling at (to another buyer), this is why it fluctuates so much. if the fiat fat cats want to crush the bubble, they can just buy up a lot of bit coins, which will inevitably raise the price (something that has been happening for the last 8 months, but even more so the last 2 months), then dump them all at once. this would burst the bubble, and have the price drop down to a more realistic price (2k). the best example in history of this type of beast is tulip mania from a couple of hundred years ago cuz there's no real value in bitcoin, the value is from what others are willing to pay to purchase your coins. i own one coin which i purchased at 1500, and i've thought about selling but i'll just keep it in the event they go to 500k or something like that. the risk is way too much to put money you're not comfortable loosing into this scheme. i prefer less risk be it the 10% pay out of public stocks which is not taxed unless over 100k profit, or the 20% return of real estate that is also not taxed. stress is not a good thing. if you're planning on going into it, i would pull half of your money once you're doubled your investment so you will at least break even in the event of a bursting bubble. then again if the bubble bursts before you double your money, you will have to swallow that hardship. too risky for my blood.Can someone knowledgable on bitcoin explain to a novice?
Interesting. You have any other links? They claim other crypto currencies will skyrocket in the comments; BTS and XVG, it all looks very interesting.The Great Happening, is Happening. The wealth transfer that was promised, is in process. Enjoy.
https://steemit.com/bitcoin/@haejin...eting-massive-is-appraoching-the-cryptosphere
Explain how thousands of NEETs are going to become millionaires from investing in cryptocurrency and rise up to rule the world.
Why you would pay $15000 for a unit of virtual currency
What makes it far superior?Because it's a far superior currency than USD, and infinitely superior to the currency USD will become in the future as it begins to fail as the reserve currency.
What makes it far superior?
The Great Happening, is Happening. The wealth transfer that was promised, is in process. Enjoy.
https://steemit.com/bitcoin/@haejin...eting-massive-is-appraoching-the-cryptosphere
-the us dollar has lost half of it's value in the last 25 years. so unless you invest it elsewhere, you're loosing money. the theory of crypo is that b/c the coins are capped, this would not happen.What makes it far superior?
What makes it far superior?