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macgyver

macgyver

TID Board Of Directors
Nov 24, 2011
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this is the same clown that told people to re-mortgage their homes and go all in on bitcoin when it was at $69k.

I wonder how many suckers took his advice.
History will show whether he is a 'clown' as you put it, or one of the biggest genius of our time. I dont think that story has been written yet, but seem to think is has been.


So this guy is such an idiot. An idiot with 125,051 BTC.... or 3.7 BILLION dollars worth. Sounds like a real loser ;) AND he is not selling and continues to accumulate.


So I get that this is some enjoyment for you. (otherwise, why do you do this?) Are you shorting this? Something that I have asked and you have never answer. What investments if any do you feel good about. Great that you are all passionate about this, but had to understand this singular fixation on BTC=bad.

Where are you putting all your money right now? Just so you know, pretty easy to take almost any asset class right now and post articles about fear and potential further downsides. Just trying to understand your fixation with this.
 
tommyguns2

tommyguns2

Senior Moderators
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Dec 25, 2010
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I think the guys who tell people to put all their eggs in one basket, whether BTC, gold or Enron stock are wrong to say that.

A hedge against inflation is typically 3-4% of your entire investment portfolio assets. Older investors who are closer to needing those assets for retirement would likely have 10-15% of their assets in hedge investments.

I do not think BTC, at this point in time, can accurately be viewed as a hedge against inflation. It's extraordinarily volatile, and correlates much more to the tech companies in the NASDAQ.

Sawyer is a billionaire who has a significant amount of his wealth tied to the success of crypto. Does that make him biased, or a true believer? Likely both.

I think crypto has it's place in a portfolio, but having too much of your nest egg in any one investment is foolish. It always has been, and always will be. We'll see a 30 year old kid who's a crypto billionaire, but we won't see the 50,000 people in their early 60s that have lost a significant amount of their life savings since January 2022. Their smile is less genuine on the front page of the latest crypto rag.

I plan on having a small portion of my portfolio in crypto. I won't end up a billionaire, but I'm living the life I wish to live. (Although the hot naked chicks on rafts in the pool would be a nice touch....)
 
Swiper

Swiper

VIP Member
Jan 8, 2011
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History will show whether he is a 'clown' as you put it, or one of the biggest genius of our time. I dont think that story has been written yet, but seem to think is has been.


So this guy is such an idiot. An idiot with 125,051 BTC.... or 3.7 BILLION dollars worth. Sounds like a real loser ;) AND he is not selling and continues to accumulate.


So I get that this is some enjoyment for you. (otherwise, why do you do this?) Are you shorting this? Something that I have asked and you have never answer. What investments if any do you feel good about. Great that you are all passionate about this, but had to understand this singular fixation on BTC=bad.

Where are you putting all your money right now? Just so you know, pretty easy to take almost any asset class right now and post articles about fear and potential further downsides. Just trying to understand your fixation with this.

I took most of my cash savings and converted it into physical gold which I store my home.
that’s where my money is. i bought at $1,800 an ounce.
 
macgyver

macgyver

TID Board Of Directors
Nov 24, 2011
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I took most of my cash savings and converted it into physical gold which I store my home.
that’s where my money is. i bought at $1,800 an ounce.
10-4 not a bad plan. Just not sure I could commit all my assets to something so difficult to move or such low growth unless I was planning for a d-day type event where I was hunkering down.

I dont think gold is 'bad' but looking at it long term it is a poor performer for anything other than protecting wealth in a doomsday event. You certainly are not going to grow wealth with that plan.

I did sell my stocks (discretionary stuff) about 4 months ago. I put it in a car. About a year before that ago, I did the same with converting extra cash into a car. That car is up 50-60k in the years time. So moving to a few physical assets has been better in that regard over the past year.

I dont hold gold. But I have quite a bit in real estate that is all owned outright and produces enough income to live off of. It's growth in value over the past few years has been nice so I am happy with that aspect. (vs a possible gold investment)

So that may shed light on my crypto approach. I dont 'need' it and it can all go to zero. (that would really suck, but it would not change anything about my life) But if it does hit, I want to hold enough that it would be life changing. Any less would not change what I do day to do. No risk, no reward.
 
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captaincaveman

captaincaveman

TID Board Of Directors
Oct 17, 2010
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Interesting article. People love to say btc does not have intrinsic value like gold.

But when looked at in more detail, why does gold, or anything have value...

Interesting look at gold, btc and value




Also interesting article of how gold and BTC compare by jp Morgan

Just general food for thought as some feel BTC has no real value. What makes value?

With gold, silver, platinum, ammo, car parts, land....you always have the ounces or the physical asset. With our interest bearing notes or Bitcoin, they can vanish instantly. Like Bitcoin and Luna did the other day. One does not need to understand crypto or blockchain or the carbon footprint of the global Bitcoin mining network to know that NONE of it works without electricity. Gold works without electricity. Silver does as well and can even be used to make tinctures, etc.

You think Bitcoin is worth 50k per coin. I think it is worth zero.....the government will eventually agree with me. (Just my .25 cents....that used to buy a hamburger, drink and fries.)

Again, the decentralization is what I like. Monero is good....and my Trezor device is about as good a privacy device as I have found. I sleep with my Trezor inside an EMP proof bag inside my EMP proof sleeping bag with my de-Googled phone plugged into a solar charger. LOL.

Enjoy the discussions, reading and learning. It's why I enjoy being here.
Respect.
-CC-
 
tommyguns2

tommyguns2

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Dec 25, 2010
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CC, I hear what you're saying, and in the extreme, it's hard to argue with you.

Under a zombie apocalypse scenario, I'm not sure what gold does for you either. In that event, I suppose what really matters is just three things: (1) a vegetable garden, (2) a fishing pole, and (3) ammo.
 
macgyver

macgyver

TID Board Of Directors
Nov 24, 2011
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Yea, no doubt, in full blown end of days mode even gold has little 'value'. If you are planning on a failing electrical grid, my advice is put up a grain silo and water cisterns. That and stockpile as much ammo as you can.

That to me seems more prudent an investment than gold if I were planning on end of days stuff.

@captaincaveman the crypto /Luna crash had nothing to do with BTC. Stable coins are VERY dangerous products. With zero regulation there is no telling where their 'value' comes from or what backs it. If someone decides to attack one, the results can be devastating as we see. But you cant use the stable coin de-pegging as an example of what is wrong with BTC. There are no similarities.

That is why I am in favor of 'good' crypto regulation. Just like regulating securities leads to stability, so to will it for crypto. It also brings more money into the space. Municipal funds, retirements etc.

I have always said that I dont believe that regulation is 'bad'. I am not a fan of 'privacy' coins. If you want privacy, deal in cash or gold. Very few people try to make a living 'underground'. I am not bothered by KYC or AML. If I make money and have gains, I will pay whatever taxes are required. My goals for crypto are not to try to conduct business outside the normal channels.
 
captaincaveman

captaincaveman

TID Board Of Directors
Oct 17, 2010
1,248
407
Yea, no doubt, in full blown end of days mode even gold has little 'value'. If you are planning on a failing electrical grid, my advice is put up a grain silo and water cisterns. That and stockpile as much ammo as you can.
Defensible area near water and food supplies. (Fish and other game). Water purification much easier than storage IF you have a supply. Solar for water heating and boiling. Ammo...not an issue.:) I plan to stay out of the way.
That to me seems more prudent an investment than gold if I were planning on end of days stuff.
Gold and silver are a store of value until after the collapse - and during if you need to get some place quick.
@captaincaveman the crypto /Luna crash had nothing to do with BTC. Stable coins are VERY dangerous products. With zero regulation there is no telling where their 'value' comes from or what backs it. If someone decides to attack one, the results can be devastating as we see. But you cant use the stable coin de-pegging as an example of what is wrong with BTC. There are no similarities.

That is why I am in favor of 'good' crypto regulation. Just like regulating securities leads to stability, so to will it for crypto. It also brings more money into the space. Municipal funds, retirements etc. So you actually still use the word "retirement." LOL. I hope and pray we get to one day.

I have always said that I dont believe that regulation is 'bad'. I am not a fan of 'privacy' coins. If you want privacy, deal in cash or gold. Very few people try to make a living 'underground'. I am not bothered by KYC or AML. If I make money and have gains, I will pay whatever taxes are required. My goals for crypto are not to try to conduct business outside the normal channels. Agreed. Again, I like the decentralization....but the government is not going to like/allow that. No control.
It appears the fed has chosen to hyperinflate their way out of this debt mess. Will be painful. Good discussion. Much respect.
 
captaincaveman

captaincaveman

TID Board Of Directors
Oct 17, 2010
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407
CC, I hear what you're saying, and in the extreme, it's hard to argue with you.

Under a zombie apocalypse scenario, I'm not sure what gold does for you either. In that event, I suppose what really matters is just three things: (1) a vegetable garden, (2) a fishing pole, and (3) ammo.
It's part of a plan. Each of us has to prepare as best we can for what we believe is coming. That is not paranoia or conspiracy. That is what we do every day as adults.

The ones that are going to have a hard time are the oblivious masses that think things are ever returning to normal. They're not. The food crisis alone may create a zombie-like scenario once folks start starving. Vaccine zombies will be much easier to spot. They will be wearing masks and be six feet apart at all times. :cool:
 
macgyver

macgyver

TID Board Of Directors
Nov 24, 2011
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It appears the fed has chosen to hyperinflate their way out of this debt mess. Will be painful. Good discussion. Much respect.

I am very happy most of my money is long tied up on physical assets. Mostly real estate.

A few years back, I looked at all the stock market gains and was wondering if I was losing out with most of my money tied up in physical assets.

But like many markets do, this stock market is correcting and may continue to correct even deeper.

I however look at crypto as the single biggest opportunity that many of us will see in our lifetimes for wealth building. Very few people understand the true potential. But it is not without risk. I have been in this for almost 10 years now. I have read everything I can read and still continue to educate myself on the crypto space.

In crypto, we are just at the beginnings. Like dial up internet. I believe the possibility for web 2.0 will be larger than most can fathom. Crytpo is inevitable. State issued or otherwise.

BTC is unique among others. It is the one where you really can say, if all govts of the world dont ban it, it will always be of value. The politics are complicated, but it stands to reason that many countries might want to ban it, but realize what a mistake that could be. Similar to banning the internet.

The more wise choice is to tax the revenue from it and the businesses that grow around it. That is what I see as the most likely case.

Just a small nugget of BTC trivia. If just every current millionaire in the US wanted to own a single BTC, there is not enough for that. Extrapolate that world wide and see what the finite nature of BTC can mean if it translates to ever a small store of wealth for people.

Good luck all.
 
macgyver

macgyver

TID Board Of Directors
Nov 24, 2011
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For anyone interested, this is an interview with Alex Mashinsky. CEO of Celsius. Sharp guy, but here is his take on the coming recession and decoupling of crypto and stocks.

Also, this channel is called Digital Asset news. Rob who runs it is very pragmatic about the crypto space. He believes in divarication across assets, even gold, and property. (meaning he is not just drinking crypto kool-aid.....hodl!)


I watched entire interview, but start at 27 min mark for him talking about what is coming in his opinion.


 
ItalianMuscle

ItalianMuscle

Drama Queen senior Vip
Sep 1, 2010
2,534
908
With gold, silver, platinum, ammo, car parts, land....you always have the ounces or the physical asset. With our interest bearing notes or Bitcoin, they can vanish instantly. Like Bitcoin and Luna did the other day. One does not need to understand crypto or blockchain or the carbon footprint of the global Bitcoin mining network to know that NONE of it works without electricity. Gold works without electricity. Silver does as well and can even be used to make tinctures, etc.

You think Bitcoin is worth 50k per coin. I think it is worth zero.....the government will eventually agree with me. (Just my .25 cents....that used to buy a hamburger, drink and fries.)

Again, the decentralization is what I like. Monero is good....and my Trezor device is about as good a privacy device as I have found. I sleep with my Trezor inside an EMP proof bag inside my EMP proof sleeping bag with my de-Googled phone plugged into a solar charger. LOL.

Enjoy the discussions, reading and learning. It's why I enjoy being here.
Respect.
-CC-
Easy to criticize BTC, when you were probably one of the millions that were late to the party. You think its worth Zero? lol.. I had BTC before most even knew what it was. I bought my first coins on the dark web, when BTC was under $100 for one. They were actually tough to get. No one wanted to sell you any. The few that did, you had to buy with a green dot money card. Say BTC was $75 for one. They would charge you $100 for one.

Is all my money in Crypto? Hell no.. Some I am waiting for an even bigger payday. I recently bought LUNA again just for the hell of it. Why not? Pennies on the dollar. I do like physical assets like gold/silver. Bought gold many years ago when it was $6-700 ounce. Just done near tripled my money, and I am still buying it. I even have crypto backed by gold..

Not sure if you're being sarcastic or not, but Trezor is one the best wallets out there to store crypto. There are others I like, but best ones are the ones you have offline.
 
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