John McAfee is using some sort of black magic to try to justify not eating his own dick.
Seriously wtf is wrong with people? How have all the rubes willing to buy at that price not lost all of their money already? Also interesting that this coincides with Tesla’s boom, which is also famously volatile.
Bitcoin and it’s mining aspect have been a disaster for the human race.
Why?
You could use it from Mars, but not mine it there. The network is too fast for how far away Mars is.
Communications to Mars take like 3-21 minutes each way, mining works on finding new blocks every 10 mins on average, so Martian miners will be so late getting a response back that most of the time the Earth network would be several blocks ahead and the Martian solution would be a shorter fork and be discarded.
Mining on the moon would work though.
Yeah, I remember giving advice to a few people with extra cash to buy $100-1000 worth of bitcoin and lock it away on a thumb drive in a safe deposit box and never think about it again until you’re forced to. I was like 15 so no one took me seriously, but I got some texts when it got $20k last year from people kicking themselves that they didn’t do exactly what I said
I was one click away from buying $400 worth at $3 USD. It’s rough but I know I would have 100% sold at like 1k.
A long ass time ago I was reading about bitcoin and it sounded interesting so I set up a Coinbase account. Back then they gave you one cent in Bitcoin just for making an account. I don’t know what happened, I think I couldn’t figure out how to add funds or something so I didn’t buy anything. Several years later when Bitcoin was blowing up again I decided to buy some. I signed into that old account and my one cent was fifteen cents. That was pretty early on still, it’s worth more now. I always wonder what would have happened if I had figured out how to buy some back then lol.
Around the last peak of the price of Bitcoin, a buddy of mine found 3 Bitcoin in a wallet on an old laptop he hadn’t opened for years. He’d mined them on work computers after hours.
He then sold them and used the proceeds to buy a disused warehouse in Greece to live in…I’m both envious and amazed that by pure luck and by “expropriating” electricity from his employer he managed to do that. And also aghast that this is even a chain of events that is possible.
same. my coinbase transaction history from back when bitcoin was fresh is extremely depressing to look at. oh well, i was gonna buy drugs anyways, was never going to invest in bitcoin. i was more of a monero person if were to invest but i didn’t and that one didn’t even work out, so i try to not let this shit bother me. but it is sad to look at sometimes
Don’t feel too bad man. I knew about Bitcoin before it had any value at all. I mean, this was before the famous trade where a guy gave 10k Bitcoin for a pizza. I decided to figure out how to mine them (which was very easy to do at the time), but ran into some annoyances with creating a dual boot so I could run mining software on Linux.
This is now a funny story my friends tell strangers at parties every time Bitcoin is brought up. My only solace is knowing I never would’ve held onto it past 100$ unless I managed to forget I had it for years.
Bitcoin and the stock market is 100% legal gambling. I started a little investing in the stock market recently. It brings the same anxiety gambling does. I hate that I’ve been forced into it because “yoU NEed To InVESt FoR YouR FuTURe.”
“investing for the future” should be an index fund of the biggest stocks that you don’t touch for 40 years. If anyone tells you otherwise, they’re selling something
I think it’s reasonable to have like 5% of your portfolio in hedges against the stock market like gold or bitcoin or REITs or bonds or whatever.
Why hedge there when you can buy far dated puts on a stupidly overpriced ipo like doordash. These companies that have demonstrably terrible business models that are propped up by vc money are going to crash hard if it all comes tumbling down AND betting on doordash losing value is likely just a sure bet regardless. It’s a safe bet either way. This is the way I’m choosing to hedge my portfolio right now
The only use for Bitcoin besides gambling is buying illegal drugs on the dark web
Bitcoin is the biggest proof money is fake. People are buying it because people are buying it. Now it’s just money that’s harder to spend, but is actually appreciating in value than losing it.
Just curious, how do you sell them, personally? Do you use an exchange or sell directly to other people in your area? I have heard that places like coinbase are blocking people from pulling out by delaying transactions, which is something I heard also about other exchanges the last time the price spiked
IF I still have my password on my old computer, I would potentially have access to like 0.3 BTC that I got from a website for “watching” ads for fractions of coins and a Bitcoin faucet to promote bitcoin back in like 2013. Would it even be possible to “pull out” now?
in my head only 1 person buys or sells any bitcoin within a given month, and the entire thing is just a machine to fuck that person over as hard as possible. A bunch of fake numbers that mean nothing and an inexplicably gigantic advertising apparatus to convince people to stick their money in a chute labeled “might make u rich!” that just deposits that money directly into a billionaire’s vault
