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View Full Version : To Those Who Think It Is Foolish To Buy Bitcoin....



t00nces2
12-17-2017, 06:58 AM
Sorry, posted before proofreading.. I know I spelled "foolish" wrong.

I am in the optimistic outlook camp for Bitcoin belief. I can see the tulip bulb side of the argument, and I don't deny that the value of Bitcoin could quickly evaporate (either temporarily or permanently). I believe Bitcoin will be a million dollar item in the future. I thnk shortly the goal will be to acquire one whole Bitcoin. I also think we will see a significant drop in price for all crypto shortly after the first of the year as people lock profits after the huge run up and to lessen the pinch of taxes.

So, to those who feel that the crypto buy is a foolish one, anyone willing to make any predictions when the floor falls out? Is there a point where you would consider changing your mind? Are you playing a wait and see but feel it is foolish to have jumped in so soon? What do you think the future will bring for Bitcoin and what is your anticipated timeline?

ynot2k
12-17-2017, 08:19 AM
t00nces2 changed that for you. Or did you want to hodl it? One never knows, might end up in Urban Dictionary. You could be famous!

maxwellsilverhammer
12-17-2017, 09:59 AM
if i could get in at $4k I would buy one. heck maybe even spend $4k for a half of one if it dropped back down to $8k. I think the risk/reward would be more in line for me then. I just yesterday made a decision that will cost me between $1k and $2k a month negative cash flow from my rentals for this season so that will probably make a difference on my short term purchasing power for anything extra as in p m's or bc. who knows whatever the future brings. i think i am fairly well stocked up with long term holdings. rentals have been good to me.

vincentstephan
12-17-2017, 10:41 AM
Lte coin has been very very good to me

AnotherDave
12-17-2017, 11:17 AM
if i could get in at $4k I would buy one. heck maybe even spend $4k for a half of one if it dropped back down to $8k. I think the risk/reward would be more in line for me then. I just yesterday made a decision that will cost me between $1k and $2k a month negative cash flow from my rentals for this season so that will probably make a difference on my short term purchasing power for anything extra as in p m's or bc. who knows whatever the future brings. i think i am fairly well stocked up with long term holdings. rentals have been good to me.

Y'know, you COULD accept .2 BTC as rent. And instead of paying your tradesmen etc. in FRN, you could pay them in BTC too! That would make your exchange an even trade in currency.

Or are you focused on buying below market, and making a profit in FRN?

maxwellsilverhammer
12-17-2017, 11:52 AM
Y'know, you COULD accept .2 BTC as rent. And instead of paying your tradesmen etc. in FRN, you could pay them in BTC too! That would make your exchange an even trade in currency.

Or are you focused on buying below market, and making a profit in FRN?

I still believe cash is king and i love collecting rent in cash. i find star notes, silver certificates ocasionally and other interesting currency that way. i make p m purchases with the cash and do yard sale bartering that way. bitcoin is not in the mainstream and i dont know any tradesmen around here that trade in bitcoin. i would only buy bitcoin at a much discounted price than it is now at a current high (remarkably high in my estimation - in such a short time period) inflated price based upon nothing but greed and speculationary betting. i would buy when it bounces down at least 40% and then sell half of my purchase when it hits a higher high than it sits at now. i would then use the frns to buy more p m's or land or tax deeds and at that point i would let the rest ride. if it continues escalating i win. if it crashes and burns for whatever reason, i dont lose. either way it would be a win - win for me.

t00nces2
12-17-2017, 12:42 PM
t00nces2 changed that for you. Or did you want to hodl it? One never knows, might end up in Urban Dictionary. You could be famous!

Thanks. I am already famous.... I am a legend in my own mind.

everything1
12-17-2017, 12:56 PM
I sold my ethereum for about a double in three months. I'm going to wait things out. So, essentially I'm shorting Ethereum. Bitcoin has doubled price in a month, it doesn't add up to me. I mean .. where's the beef. Whales must be jumping in at this point. Some of the earliest adopters have got to be cashing out with huge winnings at this point in time. We have certain countries like South Korea that are also driving the crypto currency market, and the regulators are a bit worried.