(Topic ID: 200502)

Somebody explain Bitcoin to me

By Pinballlew

2 years ago

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  • 1,721 posts
  • 165 Pinsiders participating
  • Latest reply 24 days ago by Zampinator
  • Topic is favorited by 31 Pinsiders


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    #25 2 years ago

    Buy tangible assets.

    When the power goes out....you can still hold gold & silver in your hands. It's tangible....bitcoin is not.

    #30 2 years ago
    Quoted from pezpunk:

    great plan ... so long as the apocalypse strikes in your lifetime. in which case ... congrats?

    Don't need an apocalypse for shit to go sideways....but I digress.

    #160 2 years ago
    Quoted from pezpunk:

    yeah i get that. all i can offer is that the only difference between bitcoin and traditional currencies in that regard is the number of people who agree it has value.
    in my opinion, there are two main advantages bitcoin has over, say, the U.S. dollar:
    - actual, enforced scarcity: unlike dollars, no person/government/bank can simply print a bunch of new ones when they want. there are 21 million and that's all there'll ever be.
    - the blockchain: a permanent, unalterable, distributed public ledger of every bitcoin transaction. it's a currency that comes with a practically infallible accounting / trust / clearinghouse / verification system built in. it eliminates the need for trusted third parties, intermediaries, or central authorities to approve transactions.

    You pretty much just described gold too. And it has been used since the dawn of civilization....and will continue to be used until the end.

    #169 2 years ago
    Quoted from Astropin:

    Agreed. But what's your point? There are many alternative forms of value. Gold, Silver, Platinum, Bitcoin, Real Estate...etc...

    I'm just saying it's a sound investment (in my mind) that is reliable and versatile. Thats what I look for when investing for the long haul. It will always have value.....always. It also has too many uses besides currency exchange. And you physically own it outright.....no middle man. (No govt)

    Thats all I'm saying....


    ....with all that said. I'm kind of curious now after all this discussion. I'm now pondering just investing a small sum and giving it a 5 year life span in my portfolio to see how it does.

    Or should I just get some new decals for my SF2? Lol

    #224 2 years ago

    Cash is king.

    With somewhat large purchases I'll ask them to drop the tax if I pay with cash. You'd be surprised how often they do....

    Quoted from Pinballlew:

    I sit here wondering why you kept your turd from this morning.

    1 year later
    #1679 1 year ago

    Still liking my gold & silver bullion

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