General Discussion

TampaAnimusVortex

(785 posts)

35. Sounds like good investment advice!

Thu Mar 26, 2015, 09:35 AM

Mar 2015

But I could easily explain Bitcoin to an 8 year old.

It's simply a distributed ledger, like recording transactions on a piece of paper and you give 50 people copies - then you agree on a method to make sure all the copies stay identical. That's really all Bitcoin is... All the guttural emotional reactions I see from people when you even mention the name to me is quite alien. I have to assume they really don't understand it for the most part, because who could be against a distributed ledger? It's like being against hammers.

Now being against the volatility of it makes some sense. Some people don't have the risk tolerance for it, but say that... Not "It's a ponzi scheme!" or "It's a plot by the libertarians!".

I personally think our digital world just begs for digital money, but that's my perspective. I know people that want to go back and use gold coins and others that want things to remain just as they are. To each his own I guess.

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

62 replies

= new reply since forum marked as read

Highlight:

The biggest U.S. stock exchange operators are taking steps to embrace bitcoin... [View all] TampaAnimusVortex Mar 2015 OP

It's how I get my heroin! zappaman Mar 2015 #1

Would be stupid not to Egnever Mar 2015 #2

The wild swings should settle out eventually. TampaAnimusVortex Mar 2015 #10

Maybe Egnever Mar 2015 #11

It does have a ways to do for sure... TampaAnimusVortex Mar 2015 #16

How does one make money by trading it? arcane1 Mar 2015 #3

Buy low and sell high TampaAnimusVortex Mar 2015 #5

Like a currency exchange? I buy it in dollars and cash out later? arcane1 Mar 2015 #12

Pretty much TampaAnimusVortex Mar 2015 #13

I other words, it's just like REAL money except... randome Mar 2015 #22

It's not controlled by anyone... TampaAnimusVortex Mar 2015 #23

Message auto-removed Name removed Mar 2021 #62

Buy low, sell high. There's also what's known by the fancy term, arbitrage - closeupready Mar 2015 #6

Somehow this bunch embracing bitcoin still doesn't make me feel more secure about it. Gidney N Cloyd Mar 2015 #4

"This bunch" ultimately means 401ks and you. TampaAnimusVortex Mar 2015 #7

Just like with mortgage backed securities. We know. nt stevenleser Mar 2015 #9

Well, there's use and misuse for sure. TampaAnimusVortex Mar 2015 #14

Out of curiosity...... A HERETIC I AM Mar 2015 #15

I'm in NYC, so the number of folks I know who have mortgages is low. Most rent. stevenleser Mar 2015 #17

Then my followup is this; A HERETIC I AM Mar 2015 #19

Really? You're asking me that? nt stevenleser Mar 2015 #20

Yes I am, as someone who understands exactly what one is.... A HERETIC I AM Mar 2015 #21

A thoughtful post! TampaAnimusVortex Mar 2015 #29

That is very kind of you to say, but FWIW, a Mortgage Backed Security is not a "derivative" A HERETIC I AM Mar 2015 #30

Sounds like good investment advice! TampaAnimusVortex Mar 2015 #35

An enormous amount of money already is digital. A HERETIC I AM Mar 2015 #38

I think you meant 'end up HOLDING a piece.' Gidney N Cloyd Mar 2015 #18

You beat me to it. Over the last 40 years the investment banking industry has engaged in stevenleser Mar 2015 #8

It's madness Yorktown Mar 2015 #24

Did you read your own article? They are selling software to bitcoin exchanges. FSogol Mar 2015 #25

What part of my post was in error? TampaAnimusVortex Mar 2015 #27

yawn, another op on ponzi scheme. PowerToThePeople Mar 2015 #26

You really have no clue do you? TampaAnimusVortex Mar 2015 #28

yawn PowerToThePeople Mar 2015 #31

For your edification; A HERETIC I AM Mar 2015 #32

it certainly can be PowerToThePeople Mar 2015 #33

So now you are against people owning houses... TampaAnimusVortex Mar 2015 #34

most normal people PowerToThePeople Mar 2015 #43

And who exactly is the swindler here? TampaAnimusVortex Mar 2015 #44

so you pay taxes on your bitcoin income, correct? CreekDog Mar 2015 #45

The investor class sees beneficial opportunity in bitcoin. NCTraveler Mar 2015 #36

Then you dont understand the underlying technology. TampaAnimusVortex Mar 2015 #37

The article I am replying to backs up my claim. NCTraveler Mar 2015 #39

The investor class? TampaAnimusVortex Mar 2015 #40

You know what I mean when I say investor class. NCTraveler Mar 2015 #41

are you selling or in some way marketing bitcoins here? CreekDog Mar 2015 #46

another day, another bitcoin post CreekDog Mar 2015 #42

Because the traders recognizes a hustle when they see one? Blue_Tires Mar 2015 #47

Exactly what is the hustle and who is the mastermind? TampaAnimusVortex Mar 2015 #49

The mastermind? Not sure... Blue_Tires Mar 2015 #50

In one of the larger ones (Mnt Gox) - it was determine it was an inside job. TampaAnimusVortex Mar 2015 #51

So what protection do I have if some "insider" steals it all? Blue_Tires Mar 2015 #53

Security is one thing that has been improving in the Bitcoin realm. TampaAnimusVortex Mar 2015 #55

are you selling or marketing bitcoins or trades in bitcoins? CreekDog Mar 2015 #56

Not really. TampaAnimusVortex Mar 2015 #57

you seemed to get super quiet right after I asked you if you were selling bitcoins here CreekDog Mar 2015 #59

I responded to your post TampaAnimusVortex Apr 2015 #60

and after this post on bitcoins, you didn't post for a week CreekDog Apr 2015 #61

I'm not a currency trader or anything, but the value in bitcoins for most end-users is closeupready Mar 2015 #48

If you were from a country with capital controls, and wanted to get your wealth out... TampaAnimusVortex Mar 2015 #54

Wall Street's been selling fairy-dust 'securities' for decades customerserviceguy Mar 2015 #52

do they accept bitcoin as payment? uncle ray Mar 2015 #58