Anonymous
12/09/2024 14:45
Subject: If you have more than a million in investments, have you purchased BITCOIN in any form? if so how much?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:I honestly don’t understand this stuff. Like, what’s the endgame - Bitcoin gets to $1 million? $10 million? And then what? Can you do anything with it other than trade it like digital Pokémon cards?
Is it ever going to be used for transactions? If so, why isn’t it already being used for this purpose?
Is it going to replace the US dollar? Why would the government ever allow that, and give up its enormous power, instead of making it illegal?
How is it a store of value? A house is a store value because somebody can live in it. Stocks are a store of value because you get a stream of earnings. But what is being stored with Bitcoin? OK, there is a “limited supply,” but so what? If Bitcoin went away tomorrow, what value would be lost except for the money that people have spent buying it??
All the answers are online. You just haven't bothered to do some research. What value does gold have? We can't eat it. We can't use little peaces to buy anything every day. What value does fiat currency have if every country can keep printing it. Can't keep printing Bitcoin. More gold can be found and it happens all the time as price goes up.
Bitcoin is new technology, so no wonder people are scared. The idea is not new, the technology had to catch up.
I’m the PP you responded to. Note that I did not mention gold because I agree that gold doesn’t have much value either. I mentioned real estate and stocks as assets that do have value.
Regarding fiat currency (the dollar), it has value because it is backed by the world’s #1 superpower and is the reserve currency used in transactions throughout the world. Of course, it’s not good if it is endlessly printed, but I can’t make a leap from that to accepting that Bitcoin is the solution or that I should part with $100,000 of my hard-earned money to buy one Bitcoin.
This is a common misunderstanding.
There is no requirement to buy in whole Bitcoins. Most transactions are in fractions of BTC - or as they are called: a "satoshi" or "sats".
https://www.coindesk.com/learn/what-is-a-satoshi-understanding-the-smallest-unit-of-bitcoin
Right now, you can get your feet wet with .005 BTC for about $500. That's mere pocket change for a man clearly of your stature and resource.
Or just buy one of the many low fee ETFs in your brokerage account
Anonymous
12/09/2024 14:44
Subject: If you have more than a million in investments, have you purchased BITCOIN in any form? if so how much?
47. I have 20k of FBTC. I have about $10k in alt coins. My other money is in real estate and SP500.
Everyone here needs to understand that there is a ton of money to be made in crypto before it all crashes in a couple years. This entire administration is pro crypto, as is Congress.
Everyone here needs to understand that there is a ton of money to be made in crypto before it all crashes in a couple years. This entire administration is pro crypto, as is Congress.
Anonymous
12/09/2024 14:36
Subject: If you have more than a million in investments, have you purchased BITCOIN in any form? if so how much?
Anonymous wrote:Anonymous wrote:Anonymous wrote:I honestly don’t understand this stuff. Like, what’s the endgame - Bitcoin gets to $1 million? $10 million? And then what? Can you do anything with it other than trade it like digital Pokémon cards?
Is it ever going to be used for transactions? If so, why isn’t it already being used for this purpose?
Is it going to replace the US dollar? Why would the government ever allow that, and give up its enormous power, instead of making it illegal?
How is it a store of value? A house is a store value because somebody can live in it. Stocks are a store of value because you get a stream of earnings. But what is being stored with Bitcoin? OK, there is a “limited supply,” but so what? If Bitcoin went away tomorrow, what value would be lost except for the money that people have spent buying it??
All the answers are online. You just haven't bothered to do some research. What value does gold have? We can't eat it. We can't use little peaces to buy anything every day. What value does fiat currency have if every country can keep printing it. Can't keep printing Bitcoin. More gold can be found and it happens all the time as price goes up.
Bitcoin is new technology, so no wonder people are scared. The idea is not new, the technology had to catch up.
I’m the PP you responded to. Note that I did not mention gold because I agree that gold doesn’t have much value either. I mentioned real estate and stocks as assets that do have value.
Regarding fiat currency (the dollar), it has value because it is backed by the world’s #1 superpower and is the reserve currency used in transactions throughout the world. Of course, it’s not good if it is endlessly printed, but I can’t make a leap from that to accepting that Bitcoin is the solution or that I should part with $100,000 of my hard-earned money to buy one Bitcoin.
This is a common misunderstanding.
There is no requirement to buy in whole Bitcoins. Most transactions are in fractions of BTC - or as they are called: a "satoshi" or "sats".
https://www.coindesk.com/learn/what-is-a-satoshi-understanding-the-smallest-unit-of-bitcoin
Right now, you can get your feet wet with .005 BTC for about $500. That's mere pocket change for a man clearly of your stature and resource.
Anonymous
12/09/2024 14:03
Subject: If you have more than a million in investments, have you purchased BITCOIN in any form? if so how much?
Anonymous wrote:I honestly don’t understand this stuff. Like, what’s the endgame - Bitcoin gets to $1 million? $10 million? And then what? Can you do anything with it other than trade it like digital Pokémon cards?
Is it ever going to be used for transactions? If so, why isn’t it already being used for this purpose?
Is it going to replace the US dollar? Why would the government ever allow that, and give up its enormous power, instead of making it illegal?
How is it a store of value? A house is a store value because somebody can live in it. Stocks are a store of value because you get a stream of earnings. But what is being stored with Bitcoin? OK, there is a “limited supply,” but so what? If Bitcoin went away tomorrow, what value would be lost except for the money that people have spent buying it??
It is used for “transactions.”
Anonymous
12/09/2024 14:00
Subject: If you have more than a million in investments, have you purchased BITCOIN in any form? if so how much?
I’m 54 and DH is 66. We have about 1.5 M invested. No bitcoin. But I feel like we need to learn more about it. My DH has pretty strong knowledge when it comes to finance, but he’s got a boomerish blind spot here. I am about a 6/10 when in comes to these skills so do rely on DH to a certain extent although our investment accounts are separate.
Anonymous
12/09/2024 13:58
Subject: If you have more than a million in investments, have you purchased BITCOIN in any form? if so how much?
Anonymous wrote:In my 50s about $4M in assets and zero in bitcoin. It’s pure speculation and that’s not my investment style.
This is me too.
I’m a slow and steady wins the race person. I know a little about crypto and I compare it to a Ponzi scheme …for now. But I do see it being our future. Right now it’s just too volatile for my liking.
Anonymous
12/09/2024 13:54
Subject: If you have more than a million in investments, have you purchased BITCOIN in any form? if so how much?
Age 50
About 20% of my $3MM portfolio is in bitcoin.
About 20% of my $3MM portfolio is in bitcoin.
Anonymous
12/09/2024 13:40
Subject: If you have more than a million in investments, have you purchased BITCOIN in any form? if so how much?
40s, about $2M invested, 10% in BITO. It kicks off about $8-12k/month, which I invest in non-crypto or even crypto-adjacent funds. I think Bitcoin is as likely to go to $0 as it is to go to a million, so I prefer to make money off of other people's enthusiasm for the product than the product itself. If it went to $0 tomorrow I still would have better than doubled my initial investment.
This is all in Roth or Rollover IRAs so I don't have to bother with taxes on the capital distributions. We also have less than $1k scattered around various wallets in random tiny amounts of BTC, ETHE, Solana, etc. Evidence of past interest that is presently unmonitored.
This is all in Roth or Rollover IRAs so I don't have to bother with taxes on the capital distributions. We also have less than $1k scattered around various wallets in random tiny amounts of BTC, ETHE, Solana, etc. Evidence of past interest that is presently unmonitored.
Anonymous
12/09/2024 13:38
Subject: If you have more than a million in investments, have you purchased BITCOIN in any form? if so how much?
Anonymous wrote:Anonymous wrote:Anonymous wrote:I honestly don’t understand this stuff. Like, what’s the endgame - Bitcoin gets to $1 million? $10 million? And then what? Can you do anything with it other than trade it like digital Pokémon cards?
Is it ever going to be used for transactions? If so, why isn’t it already being used for this purpose?
Is it going to replace the US dollar? Why would the government ever allow that, and give up its enormous power, instead of making it illegal?
How is it a store of value? A house is a store value because somebody can live in it. Stocks are a store of value because you get a stream of earnings. But what is being stored with Bitcoin? OK, there is a “limited supply,” but so what? If Bitcoin went away tomorrow, what value would be lost except for the money that people have spent buying it??
All the answers are online. You just haven't bothered to do some research. What value does gold have? We can't eat it. We can't use little peaces to buy anything every day. What value does fiat currency have if every country can keep printing it. Can't keep printing Bitcoin. More gold can be found and it happens all the time as price goes up.
Bitcoin is new technology, so no wonder people are scared. The idea is not new, the technology had to catch up.
I’m the PP you responded to. Note that I did not mention gold because I agree that gold doesn’t have much value either. I mentioned real estate and stocks as assets that do have value.
Regarding fiat currency (the dollar), it has value because it is backed by the world’s #1 superpower and is the reserve currency used in transactions throughout the world. Of course, it’s not good if it is endlessly printed, but I can’t make a leap from that to accepting that Bitcoin is the solution or that I should part with $100,000 of my hard-earned money to buy one Bitcoin.
Bitcoin like gold is valuable precisely because it’s a monetary network that is NOT backed (ergo reliant upon) any government. Increasingly however it is being integrated within the USD system. It is a form of money anyone in the world with Internet access can access. It’s an amazing invention - worth studying.
Anonymous
12/09/2024 13:28
Subject: If you have more than a million in investments, have you purchased BITCOIN in any form? if so how much?
Anonymous wrote:Anonymous wrote:I honestly don’t understand this stuff. Like, what’s the endgame - Bitcoin gets to $1 million? $10 million? And then what? Can you do anything with it other than trade it like digital Pokémon cards?
Is it ever going to be used for transactions? If so, why isn’t it already being used for this purpose?
Is it going to replace the US dollar? Why would the government ever allow that, and give up its enormous power, instead of making it illegal?
How is it a store of value? A house is a store value because somebody can live in it. Stocks are a store of value because you get a stream of earnings. But what is being stored with Bitcoin? OK, there is a “limited supply,” but so what? If Bitcoin went away tomorrow, what value would be lost except for the money that people have spent buying it??
All the answers are online. You just haven't bothered to do some research. What value does gold have? We can't eat it. We can't use little peaces to buy anything every day. What value does fiat currency have if every country can keep printing it. Can't keep printing Bitcoin. More gold can be found and it happens all the time as price goes up.
Bitcoin is new technology, so no wonder people are scared. The idea is not new, the technology had to catch up.
I’m the PP you responded to. Note that I did not mention gold because I agree that gold doesn’t have much value either. I mentioned real estate and stocks as assets that do have value.
Regarding fiat currency (the dollar), it has value because it is backed by the world’s #1 superpower and is the reserve currency used in transactions throughout the world. Of course, it’s not good if it is endlessly printed, but I can’t make a leap from that to accepting that Bitcoin is the solution or that I should part with $100,000 of my hard-earned money to buy one Bitcoin.
Anonymous
12/09/2024 13:25
Subject: If you have more than a million in investments, have you purchased BITCOIN in any form? if so how much?
late 40s, around $8m in assets, probably $6m in investments. $0 in crypto. Don't understand it, too busy to learn, and risk averse.
Anonymous
12/09/2024 13:18
Subject: If you have more than a million in investments, have you purchased BITCOIN in any form? if so how much?
Zero. I don't understand it so I'm sticking with index funds.
Anonymous
12/09/2024 13:18
Subject: If you have more than a million in investments, have you purchased BITCOIN in any form? if so how much?
Late 40s with 3 million overall. Have about 70k invested that's now worth 140k.
Anonymous
12/09/2024 13:16
Subject: If you have more than a million in investments, have you purchased BITCOIN in any form? if so how much?
No way
Anonymous
12/09/2024 13:14
Subject: If you have more than a million in investments, have you purchased BITCOIN in any form? if so how much?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:I honestly don’t understand this stuff. Like, what’s the endgame - Bitcoin gets to $1 million? $10 million? And then what? Can you do anything with it other than trade it like digital Pokémon cards?
Is it ever going to be used for transactions? If so, why isn’t it already being used for this purpose?
Is it going to replace the US dollar? Why would the government ever allow that, and give up its enormous power, instead of making it illegal?
How is it a store of value? A house is a store value because somebody can live in it. Stocks are a store of value because you get a stream of earnings. But what is being stored with Bitcoin? OK, there is a “limited supply,” but so what? If Bitcoin went away tomorrow, what value would be lost except for the money that people have spent buying it??
All the answers are online. You just haven't bothered to do some research. What value does gold have? We can't eat it. We can't use little peaces to buy anything every day. What value does fiat currency have if every country can keep printing it. Can't keep printing Bitcoin. More gold can be found and it happens all the time as price goes up.
Bitcoin is new technology, so no wonder people are scared. The idea is not new, the technology had to catch up.
DP. Gold is a tangible asset. Bitcoin is not.
Is your entire investment portfolio exclusively in tangible assets? If not, this is a meaningless counterpoint.
Worth mentioning- the U.S. dollar is also backed by nothing tangible.