Bitcoin?

As I am of the opinion that the dollar is about to turn from greenbacks to green shit, who among us has an opinion about bitcoin as a safer alternative to cash-in-the-mattress?
Anyone buying or selling outside the brokerages?
Enquiring minds want to know, PM if you wish.

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As I am of the opinion that the dollar is about to turn from greenbacks to green shit, who among us has an opinion about bitcoin as a safer alternative to cash-in-the-mattress?
Anyone buying or selling outside the brokerages?
Enquiring minds want to know, PM if you wish. Originally Posted by Poppa_Viagra

I have thoughts and they are merely my opinion.

1. Crypto currency is not backed by a sovereign nation and if something happens to the platform you are out of luck. There is no real recourse.

2. If the world goes to shit, money as we know it is worthless.

3. If you are looking for a safe haven from the dollar better look elsewhere. As much shit there is in the world today the US is still a financial safety zone. Investors around the world will continue to flock to the US because of our economic and political stability. Think of it this way, how many EU member countries have threatened to leave or have left already? The one that did never gave up their sovereign currency for a reason.

4. If you do think the US dollar is going to shit and we have a worldwide economic disaster on our hands. If that is the case, physical gold and silver are the best bets.

5. If you think this will be more than an economic collapse, lead and land (with live water) are your best investments.

My two cents.

I have been trading bitcoin and several cryptocurrency (tezos, compound, stellar lumens, etc.) and I must admit I have made more money than stock trading. I got in at bitcoin during the $8K and just a few minutes hitting at $11,900. I park my investment in US Coin no fee moving in and out but earns you lifetime rewards in $.

An international friend of mine connected me with his FOREX broker on BTCUSD trading. I did quite well (not millions, but thousands) trading via CFD's. I tried to setup an account with my local brokerage in the US, and found out CFD trading is illegal here (risk?). That's unfortunate as you never physically own the BTC, and typical CFD exchanges (buy in to sell off) are less than an hour online.
Imagine the people who bought in 15 years ago for silk road purchases and having bitcoin still in their online wallet?! It was $3 US for 1 BTC

Look into Chainlink. It’s pretty much the monetization of data. I’ve made a killing off it over the last year

De0ends in why you think the dollar is going to tank and viz-a-viz what currency. But bitcoin is the last place I’d put something. It’s a greater fool good, kind of like golf, but worse.

Cash may not be a bad place to be right now.

I think deflation will be the order of the day for the next few years outside of a few asset classes.

I dint think deflation is likely unless you get an extreme fall in the stock market. And I think that the market has priced in significant creases in COVID cases pretty accurately. It’s been obvious for months he U.S. wasn’t gong to take it seriously and would be among the worst countries in the world. I think a conservatives mix of stocks that might be expected to do well in the pandemic, including lots of high free cash flow stocks and some high quality bonds would ge a good mix.

GBTC is a decent way in. It fluctuates with the bitcoin price.

An international friend of mine connected me with his FOREX broker on BTCUSD trading. I did quite well (not millions, but thousands) trading via CFD's. I tried to setup an account with my local brokerage in the US, and found out CFD trading is illegal here (risk?). That's unfortunate as you never physically own the BTC, and typical CFD exchanges (buy in to sell off) are less than an hour online.
Imagine the people who bought in 15 years ago for silk road purchases and having bitcoin still in their online wallet?! It was $3 US for 1 BTC Originally Posted by PhoK

There are several folks who bought in back then and can't remember their old passwords, lol Can you imagine the madness? LOL! (for the record, i'm not one of them)

There are several folks who bought in back then and can't remember their old passwords, lol Can you imagine the madness? LOL! (for the record, i'm not one of them) Originally Posted by daggajones

Ya a lot of keys were lost early on because it was so slow to take off people just lost or discarded storage devices. Estimated 20% of all bitcoins lost forever.

Of course, I buy Bitcoin and other cryptocurrencies when it's cheap and sell when it gets more expensive. This is called trading. I chose the most convenient https://bitniex.com/exchange exchange with such https://bitniex.com/fees low fees.

Been investing in Crypto Currencies for several years now and have seen very nice returns. Although it is very volatile but I'm in it for long term. Anyone who thinks Crypto isn't here to stay hasn't studied it much.

I've been buying Bitcoin and a few other altcoins for the past 6 months. I definitely agree with you that Bitcoin is a great investment. Especially considering the drunken printing spree that the Fed's just went on. HODL!