I am not sure which is more cringey, the litany of erroneous assumptions you splayed out or the act of calling upon the student archetype with the intent of derision. Anti-intellectualism, check. src
I actually paid higher than the monthly payments and thus fortunately i will be done in a few months, which means that sometime next year all student debt will be erased
Federally subsidized student loans are much lower, but if this guy really wants to go all in on debt, there are definitely private banks that will give student loans at these rates.
But hey, it doesn't matter because fiat currency is about to collapse any day now, right?
What was the price of Bitcoin at the beginning of the year? What is the price now? Hint: the gains exceed 18% by a wide margin. Idk how you can call me a retard when you can't do basic math lol.
Obviously anything that went up 18% in the past will go up 18% again. A middle schooler could figure that out pretty easily.
More like 600%. Can't compare 600% to 18%. Bitcoin/ cryptocurrency is revolutionary. I don't plan on ever buying stocks. I know you're trying to be witty for karma points but try reading about cryptocurrency.
Yes if it's your own money do it and it's still not guaranteed to grow your investment but getting loans out at such a high interest rate and trying to invest that is straight retardation. what do I know I only retired at 30 and never had any debt?
but getting loans out at such a high interest rate and trying to invest, that is straight retardation
The interest rates aren't comparable to the gains I will see. Subsidized loans don't accrue interest until I'm done with school. You're just ignorant. You should've kept your opinion to yourself.
You are not market Wiz OK, everyone is invested in Bitcoin you don't have greater insight than anyone. You are being arrogant for no reason. You never made any of your own money. Markets stabilize they don't have infinite ceilings like you seem to think. Investing is risky, but using loans our at high interest rates is foolish.
Ignorant I am a retired engineer and made tons of money investing and only do it now for fun. Oh yeah I'm 31. you know nothing of the world kid yet. I'm not trying to be a dick I'm telling you to be careful take my advice or not but don't act like I don't know what I'm talking about. Your hunch that cryptocurrency has an infinite ceiling is just a hunch not from an insider point of view or experience that's why I think you are being arrogant.
You're an engineer that knows absolutely nothing about Cryptocurrency which is why your opinion is worthless. You can have expertise in one area but be clueless in another.
Your hunch that cryptocurrency has an infinite ceiling
I never said that at any point. I do believe it has a ceiling of multiple trillions though.
Pretty sure I got in on bitcoin 4 years ago OK and got 50 of them when they were $13 and sold them last year at $807 So having made money in cyptocutrency, investing, I know infinitely more about you chump. Just be sure to check in a few years and let me know how it works champ.
I'm aware of that it was a mistake in hind sight I've also lost money on investments before and made a lot too, it's a crap shoot I thought it had peaked and was cashing out. Obviously I was wrong but it will crash eventually and no one can really predict when. Even Warren Buffet loses money on 40% of his investments. It's really foolish to bet your life on something when you really don't about it young.
I remember discovering Bitcoin when I was 7 or 8. "Whoa, literally free money?" was my first thought, I tried to mine, but unfortunately my GPU was not compatible, and mining with my CPU for 20 hours got me around 0.000000000000001 BTC. The value at the time was around 10-12 USD for 1 bitcoin. It's unfortunate that my young mind decided to spend my birthday money on Yu-Gi-Oh cards instead of buying some bitcoin, oh well I guess. Now I can't fund a NEET life.
Instead of taking out a bunch of loans and competing with interest rates from those greedy banks, you should just write a bunch of September 2018 AMZN Calls with a strike price of $1220. Just keep writing those options and collect the premiums. Once you've collected all that money then you should totally go all in on Bitcoin.
The guy was essentially telling him two bad pieces of advice,
1) Options trading is a high risk investment product where traders speculate on future values of stock, essentially he was telling him to offer contracts that say that amazon will not be trading above the share price listed on the contract 10 months from now. The people buying the contracts from him would think that it would be above that price. Each option represents 100 shares of stock, so the kid would prolly collect $200/contract sold (idk what the price is for amazon). If on the third Wednesday of September 2018 Amazon is trading above the strike price and the premium together, than the contract holders will force the contract writer to give them 100 shares of amazon at the price specified in the contract. If amazon trades for 100 times the strike price the writer still will still have to sell the shares they own at the price specified. Naked calls mean that the call writer doesn’t own the stock in the contract and will have to purchase it if the contract is invoked which ends up being at the strike price $12,000 a contract.
2) premiums from the option are meant to give a layer of protection to the call writer, and he was telling him to take those protections and dump them in a garbage currency.
Hopefully I explained that well enough without going into a lot of detail, I’ve done options trading in the past, and tried to make it easy to understand, let me know if you need clarification.
It’s used to protect investments or speculate on future price without exposing yourself to a lot of risk, if you own a lot of shares of something and want to protect them from a downturn you could buy puts to protect you from losing a lot. If you are interested in a biotech stock but they are still getting regulatory approval you could buy a call in case they get it and the price spikes. There’s other options out there for things like weather patterns, futures(orange juice, olive oil, timber, oil) are also like options but they trade in batches of 1000 units, there’s also forex which is for currency value. You can make good money doing it very quickly if you know what you’re doing, but key word is IF you know what you’re doing.
It’s not to protect you from it going up, it’s a way to “own” a large chuck of stock with less risk. If I buy 100 shares of a company at $20/each that doesn’t have a product with approval yet, I’m going to pay $2000, if the price tanks I’ll lose how ever much the share price loses. With an option I can “own” that same chunk of shares for only $30, if the price drops 50% I’ll lose at most $30. If it doubles I could make a few grand. But each contract eventually expires and there’s a lot of factors that determine how a contract is priced, but that’s the rough overview of why people buy calls.
I think stock trading makes sense as an investment vehicle, but options trading is basically gambling in my mind. It can be informed gambling, but its too abstract for my tastes.
Everyone on earth and therefore reddit knows that the only possible financial move for anyone who isn't a complete cuck is to take all of your money and put it in vanguard admiralty shares, there is no ETF but VTI, and VOO is his prophet (dividends be upon him)
Because then we could write off the stupidity of thinking bitcoin is a valid investment as you being a stupid child, if you’re an adult well then Jesus Christ it’s a miracle you can tie your shoes
It's dropped considerably in last few days lol. I never said any of that. It's volatile. Any drops in price are temporary. Soon you will hear about it going past $10,000.
Pretty great, tbh. Haven't put myself into any amount of debt, let alone commiting fraud to put myself into thousands of dollars of debt to buy fake money.
People have been saying this since it was $12 lol. I see Bitcoin or Bitcoin Cash reaching $200,00 each at least.
That's the nature of ponzi schemes. At every point before the final crash the people who are into it have firm historic evidence on their side, and can point out that the people who have been calling it a ponzi have been proven wrong at every turn for the entirety of its existence.
Do you understand that it is true for any ponzi scheme? Then this must be an invalid argument, and you probably should try to understand why exactly it is wrong.
Yes, I'm not giving any reasons because I'm not calling it a ponzi right now, I'm discussing your logic when you dismiss actual arguments with "People have been saying this since it was $12 lol".
If bitcoin was a ponzi, how would you expect that to be different?
Do you understand the basic logic principle I'm using here, that to determine which of a multiple possibilities is true, you must find and examine properties that take different values in different possible worlds. If some property takes the same value in all possible worlds then it can't tell you which world you're in and is useless, even if it appears to make you feel all warm and fuzzy.
It's moronic. You could compare almost anything to a ponzi scheme this way. You're arguing juts for the sake of it at this point.
You're pretty stupid even for a 17 year old.
Again, slowly: there are different types of arguments. Some arguments address a fact directly, like for example I could say "bitcoin is a ponzi because returns come from new investors, not from profits". But I'm not saying that right now, I'm making a different counter argument that addresses your argument instead of the fact directly.
You implied something along the lines of, "if bitcoin is a ponzi, then how comes people were making profit off it since 2012?", right? Well, to see if it's a good argument we should imagine a world where bitcoin is a ponzi, and see if the same statement holds there. Which it does, all ponzis are profitable until they burst, therefore people making profit off of some financial scheme doesn't mean that it's not a ponzi.
It doesn't mean that bitcoin is a ponzi, it means that your argument against it being a ponzi is invalid because it would apply to Bernie Madoff as well.
It's as if you found some sweet-tasting powder and claim that it's totally not a poison. "It's sweet, so it must be sugar, why would it be sweet otherwise?" you say. To which I point out that lead oxide is pretty sweet too. That doesn't mean that I definitively claim that your powder is a lead oxide, I'm saying that your argument for it being sugar is broken.
Just speaking the truth. Anyone with any knowledge of finance is smart enough not to invest significantly in bitcoin.
Do I wish I bought bitcoin 10 years ago? Yeah. Doesn't change the fact that sinking your cash into bitcoin now is pretty stupid.
Bitcoin exists in what is known as a bubble in economics. The only thing sustaining its value is the demand for bitcoin. Once that demand goes away for any number of reasons the bubble is going to pop and the value of bitcoin will crash to almost nothing.
Like I said anyone with basic knowledge of finance/economics can back his up
Doesn't change the fact that sinking your cash into bitcoin now is pretty stupid.
That's what you said the 8 years ago, and you would have been wrong, it's what you said the 7 years ago, and you would have been wrong, it's what you said the 6 years ago, and you would have been wrong, it's what you said the 5 years ago, and you would have been wrong, it's what you said the 4 years ago, and you would have been wrong, it's what you said the 3 years ago, and you would have been wrong, it's what you said the 2 years ago, and you would have been wrong, it's what you said the 1 year ago, and you would have been wrong.
I am confident in my long-term "investment" in Bitcoin of exactly $0.00 US dollars; should give me the same amount of return as every other long-term Bitcoin "investor".
106 comments
1 SnapshillBot 2017-11-11
I am not sure which is more cringey, the litany of erroneous assumptions you splayed out or the act of calling upon the student archetype with the intent of derision. Anti-intellectualism, check. src
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1 Honk4Tits 2017-11-11
What a retard, the 12-15% interest on his student loans will offset any jumps he gets, its not 2013 anymore everyone is in on bitcoin.
1 ChipChippersonAMA 2017-11-11
Holy fuck they're that high now?
1 scatmunchies 2017-11-11
Don’t worry, Bernie will make tuition free for everyone and wipe out your student loan debt.
Match me!
1 ChipChippersonAMA 2017-11-11
I actually paid higher than the monthly payments and thus fortunately i will be done in a few months, which means that sometime next year all student debt will be erased
1 scatmunchies 2017-11-11
This is why I just had rich parents. Way easier.
1 fingerpaintswithpoop 2017-11-11
God damn it, why didn’t I think of that?!
1 scatmunchies 2017-11-11
TBH, I don’t know why poors can’t figure this out - just be rich instead.
1 GaiusPompeius 2017-11-11
Federally subsidized student loans are much lower, but if this guy really wants to go all in on debt, there are definitely private banks that will give student loans at these rates.
But hey, it doesn't matter because fiat currency is about to collapse any day now, right?
1 homeincomes 2017-11-11
The interest is also paid byt the government while I'm still in school which will be a while.
1 BannaHamHock 2017-11-11
Only the subsidized ones.
1 homeincomes 2017-11-11
Still a big deal. Also, private loans can be avoided with Statutes of Limitations.
1 BannaHamHock 2017-11-11
Lol you are making a terrible decision
1 homeincomes 2017-11-11
They can still be avoided while living in the country. I actually was thinking about leaving the country after I was done though.
Bitcoin is a once in a lifetime opportunity. Also, if I'm successful, my wealth will allow me to mitigate risks much more.
1 Jwillis-8 2017-11-11
That’s the spirit! The best thing one can do with the winnings of a lottery ticket is to buy more lottery tickets.
1 BannaHamHock 2017-11-11
Well I wish you luck.
1 homeincomes 2017-11-11
What was the price of Bitcoin at the beginning of the year? What is the price now? Hint: the gains exceed 18% by a wide margin. Idk how you can call me a retard when you can't do basic math lol.
1 twinkletoes232 2017-11-11
Basic math: buy the investments that only ever go up. By George, I think this kid might be onto something!
1 homeincomes 2017-11-11
Bitcoin has increased more than 18%. That is a factual statement.
1 twinkletoes232 2017-11-11
Obviously anything that went up 18% in the past will go up 18% again. A middle schooler could figure that out pretty easily.
Besides, 18% in a year is nothing. MGT Capital Investments stock went up 1,300% in 2016. You should use all your student loan money to buy MGT shares.
1 homeincomes 2017-11-11
More like 600%. Can't compare 600% to 18%. Bitcoin/ cryptocurrency is revolutionary. I don't plan on ever buying stocks. I know you're trying to be witty for karma points but try reading about cryptocurrency.
1 UpvoteIfYouDare 2017-11-11
$1000 to $7000 within 6 months. No bubble here! And you're clearlg getting in on the ground floor.
1 Honk4Tits 2017-11-11
Yes if it's your own money do it and it's still not guaranteed to grow your investment but getting loans out at such a high interest rate and trying to invest that is straight retardation. what do I know I only retired at 30 and never had any debt?
1 homeincomes 2017-11-11
The interest rates aren't comparable to the gains I will see. Subsidized loans don't accrue interest until I'm done with school. You're just ignorant. You should've kept your opinion to yourself.
1 Honk4Tits 2017-11-11
You are not market Wiz OK, everyone is invested in Bitcoin you don't have greater insight than anyone. You are being arrogant for no reason. You never made any of your own money. Markets stabilize they don't have infinite ceilings like you seem to think. Investing is risky, but using loans our at high interest rates is foolish.
1 homeincomes 2017-11-11
I literally just worked a 10 hour shift today. Quit making assumptions.
You guys have been complete assholes.
The crypto market has a high ceiling. This has just begun. Interest rates on student loans aren't very high.
1 Honk4Tits 2017-11-11
Ignorant I am a retired engineer and made tons of money investing and only do it now for fun. Oh yeah I'm 31. you know nothing of the world kid yet. I'm not trying to be a dick I'm telling you to be careful take my advice or not but don't act like I don't know what I'm talking about. Your hunch that cryptocurrency has an infinite ceiling is just a hunch not from an insider point of view or experience that's why I think you are being arrogant.
1 homeincomes 2017-11-11
You're an engineer that knows absolutely nothing about Cryptocurrency which is why your opinion is worthless. You can have expertise in one area but be clueless in another.
I never said that at any point. I do believe it has a ceiling of multiple trillions though.
Then stop typing:
"that is straight retardation"
1 Honk4Tits 2017-11-11
Pretty sure I got in on bitcoin 4 years ago OK and got 50 of them when they were $13 and sold them last year at $807 So having made money in cyptocutrency, investing, I know infinitely more about you chump. Just be sure to check in a few years and let me know how it works champ.
1 ky1e 2017-11-11
Those 50 bitcoins would be worth much more than the $40,000 you sold them for if you had kept them...
1 Honk4Tits 2017-11-11
I'm aware of that it was a mistake in hind sight I've also lost money on investments before and made a lot too, it's a crap shoot I thought it had peaked and was cashing out. Obviously I was wrong but it will crash eventually and no one can really predict when. Even Warren Buffet loses money on 40% of his investments. It's really foolish to bet your life on something when you really don't about it young.
1 homeincomes 2017-11-11
A huge mistake.
1 ky1e 2017-11-11
Couldn't have been that big, if they only invested ~$6500.
1 homeincomes 2017-11-11
That was one of the mistakes.
1 ineedmorealts 2017-11-11
So? It's bitcoin, the prices are always all over the place.
1 Sophistrycated 2017-11-11
I don't trust any currency not directly controlled by the Jews.
1 AnnoysTheGoys 2017-11-11
Good goy!
1 ragazzo_soup 2017-11-11
We actually control Bitcoin too sweaty. :)
1 twinkletoes232 2017-11-11
Probably accurate.
1 hetoldmeontv 2017-11-11
this but unironically
1 Sta-au 2017-11-11
I thought bitcoin value was decreasing. Yeah if you got in early it was great but now you aren't going to get massive returns on your investment.
1 shallowm 2017-11-11
I remember discovering Bitcoin when I was 7 or 8. "Whoa, literally free money?" was my first thought, I tried to mine, but unfortunately my GPU was not compatible, and mining with my CPU for 20 hours got me around 0.000000000000001 BTC. The value at the time was around 10-12 USD for 1 bitcoin. It's unfortunate that my young mind decided to spend my birthday money on Yu-Gi-Oh cards instead of buying some bitcoin, oh well I guess. Now I can't fund a NEET life.
1 Redactor0 2017-11-11
You can always start a Patreon and draw furry porn.
1 RollBread 2017-11-11
Or half finish a porn game.
1 shallowm 2017-11-11
Unfortunately, I lack any artistic skill.
1 im-a-koala 2017-11-11
> implying furry artists have artistic skill
1 shallowm 2017-11-11
Whatever they have, it's better than mine.
1 homeincomes 2017-11-11
I anticipate returns of 2000%. It ill still get massive returns compared to other investment options.
1 ineedmorealts 2017-11-11
Muh kinda. The thing bitcoin is it'll jump massively in value for a short while and then come crashing down again
1 ThunderCock_Chad 2017-11-11
/u/homeincomes
Instead of taking out a bunch of loans and competing with interest rates from those greedy banks, you should just write a bunch of September 2018 AMZN Calls with a strike price of $1220. Just keep writing those options and collect the premiums. Once you've collected all that money then you should totally go all in on Bitcoin.
1 fucknazimodz 2017-11-11
That's retarded.
1 LeFabulousFaggot 2017-11-11
That’s cold bro.
I’m just glad no broker in their right mind would give naked call writing to an 18 year old.
1 snappleteadrink 2017-11-11
Explain this shit to me
1 LeFabulousFaggot 2017-11-11
The guy was essentially telling him two bad pieces of advice,
1) Options trading is a high risk investment product where traders speculate on future values of stock, essentially he was telling him to offer contracts that say that amazon will not be trading above the share price listed on the contract 10 months from now. The people buying the contracts from him would think that it would be above that price. Each option represents 100 shares of stock, so the kid would prolly collect $200/contract sold (idk what the price is for amazon). If on the third Wednesday of September 2018 Amazon is trading above the strike price and the premium together, than the contract holders will force the contract writer to give them 100 shares of amazon at the price specified in the contract. If amazon trades for 100 times the strike price the writer still will still have to sell the shares they own at the price specified. Naked calls mean that the call writer doesn’t own the stock in the contract and will have to purchase it if the contract is invoked which ends up being at the strike price $12,000 a contract.
2) premiums from the option are meant to give a layer of protection to the call writer, and he was telling him to take those protections and dump them in a garbage currency.
Hopefully I explained that well enough without going into a lot of detail, I’ve done options trading in the past, and tried to make it easy to understand, let me know if you need clarification.
1 snappleteadrink 2017-11-11
Basically sounds like gambling, does this serve any greater purpose to the economy or did people just decide they were gonna do that?
1 LeFabulousFaggot 2017-11-11
It’s used to protect investments or speculate on future price without exposing yourself to a lot of risk, if you own a lot of shares of something and want to protect them from a downturn you could buy puts to protect you from losing a lot. If you are interested in a biotech stock but they are still getting regulatory approval you could buy a call in case they get it and the price spikes. There’s other options out there for things like weather patterns, futures(orange juice, olive oil, timber, oil) are also like options but they trade in batches of 1000 units, there’s also forex which is for currency value. You can make good money doing it very quickly if you know what you’re doing, but key word is IF you know what you’re doing.
1 snappleteadrink 2017-11-11
How does the call protect you from the biotech stock going up?
1 LeFabulousFaggot 2017-11-11
It’s not to protect you from it going up, it’s a way to “own” a large chuck of stock with less risk. If I buy 100 shares of a company at $20/each that doesn’t have a product with approval yet, I’m going to pay $2000, if the price tanks I’ll lose how ever much the share price loses. With an option I can “own” that same chunk of shares for only $30, if the price drops 50% I’ll lose at most $30. If it doubles I could make a few grand. But each contract eventually expires and there’s a lot of factors that determine how a contract is priced, but that’s the rough overview of why people buy calls.
1 snappleteadrink 2017-11-11
Still seems retarded since that's just like buying in bulk which doesn't need the gambling aspect but thanks for taking the time to try and explain.
1 SuperObviousShill 2017-11-11
I think stock trading makes sense as an investment vehicle, but options trading is basically gambling in my mind. It can be informed gambling, but its too abstract for my tastes.
1 Xeltar 2017-11-11
But if the price drops even 5% you lose 100% of that $30.
1 SuperObviousShill 2017-11-11
Everyone on earth and therefore reddit knows that the only possible financial move for anyone who isn't a complete cuck is to take all of your money and put it in vanguard admiralty shares, there is no ETF but VTI, and VOO is his prophet (dividends be upon him)
1 homeincomes 2017-11-11
Idk why everyone assumed I'm a teen.
1 LeFabulousFaggot 2017-11-11
Because then we could write off the stupidity of thinking bitcoin is a valid investment as you being a stupid child, if you’re an adult well then Jesus Christ it’s a miracle you can tie your shoes
1 [deleted] 2017-11-11
[removed]
1 homeincomes 2017-11-11
Thanks my man!
1 Senator_Chickpea 2017-11-11
Amateur. Everyone knows the real path to riches is liberating the diamond mines of Sierra Leone with your drone army.
1 Burnnoticelover 2017-11-11
That sounds like a violation of the NAP.
1 SamWhite 2017-11-11
Weird, I referenced that just today. Ah Darqwolff, the greatest of lolcows.
1 Senator_Chickpea 2017-11-11
Whoa. "Plate O Shrimp."
1 SamWhite 2017-11-11
Never seen that film. Might watch it tonight.
1 fucknazimodz 2017-11-11
Asking someone if it's worth investing in bitcoin is the quickest way to find the regards.
1 homeincomes 2017-11-11
People have been saying this since it was $12 lol. I see Bitcoin or Bitcoin Cash reaching $200,00 each at least.
1 fucknazimodz 2017-11-11
Well I found one
1 homeincomes 2017-11-11
Calling me a retard won't change reality.
1 i_eat_crayons1 2017-11-11
Are you saying that bitcoin will never drop in value, and that now, when it's extremely mainstream, is not a likely time for it to drop in value?
1 homeincomes 2017-11-11
It's dropped considerably in last few days lol. I never said any of that. It's volatile. Any drops in price are temporary. Soon you will hear about it going past $10,000.
1 fucknazimodz 2017-11-11
Invest all your money in bitcoin then.
Just promise to remember this comment and come back when you in inevitably lose everything
1 Thot_Crusher 2017-11-11
But you are a retard lmao. You want to ruin your life to buy some fake money
1 homeincomes 2017-11-11
Is it possible that you're just ignorant? You'll never admit that you're wrong but is it at least a possibility that you are?
1 Thot_Crusher 2017-11-11
Please ruin your life so I can laugh at you. Be sure to post updates
1 homeincomes 2017-11-11
How is your life going?
1 Thot_Crusher 2017-11-11
Pretty great, tbh. Haven't put myself into any amount of debt, let alone commiting fraud to put myself into thousands of dollars of debt to buy fake money.
1 homeincomes 2017-11-11
"Fake money". It's as fake as USd as far as I'm concerned.
1 Thot_Crusher 2017-11-11
I'm sure everyone is concerned with what a literal child thinks lmao
1 homeincomes 2017-11-11
"I'm a grown man dawg".
1 Thot_Crusher 2017-11-11
I mean, you're a child so it's not surprising you're painfully retarded
1 homeincomes 2017-11-11
I only hear teens call other people retarded. Nothing better to do than throw some insults?
1 Thot_Crusher 2017-11-11
Can you buy me a bitcoin
1 homeincomes 2017-11-11
Begging a child for currency. This is a new low point.......
1 Thot_Crusher 2017-11-11
If I make up a currency, will you buy it from me?
1 homeincomes 2017-11-11
I only buy coins with a competent dev team. You appear to be incompetent. Also kinda lonely.
1 zergling_Lester 2017-11-11
That's the nature of ponzi schemes. At every point before the final crash the people who are into it have firm historic evidence on their side, and can point out that the people who have been calling it a ponzi have been proven wrong at every turn for the entirety of its existence.
Do you understand that it is true for any ponzi scheme? Then this must be an invalid argument, and you probably should try to understand why exactly it is wrong.
1 homeincomes 2017-11-11
You're calling it a ponzi scheme without giving any reasons.
1 zergling_Lester 2017-11-11
Yes, I'm not giving any reasons because I'm not calling it a ponzi right now, I'm discussing your logic when you dismiss actual arguments with "People have been saying this since it was $12 lol".
If bitcoin was a ponzi, how would you expect that to be different?
Do you understand the basic logic principle I'm using here, that to determine which of a multiple possibilities is true, you must find and examine properties that take different values in different possible worlds. If some property takes the same value in all possible worlds then it can't tell you which world you're in and is useless, even if it appears to make you feel all warm and fuzzy.
1 homeincomes 2017-11-11
It's moronic. You could compare almost anything to a ponzi scheme this way. You're arguing juts for the sake of it at this point.
1 zergling_Lester 2017-11-11
You're pretty stupid even for a 17 year old.
Again, slowly: there are different types of arguments. Some arguments address a fact directly, like for example I could say "bitcoin is a ponzi because returns come from new investors, not from profits". But I'm not saying that right now, I'm making a different counter argument that addresses your argument instead of the fact directly.
You implied something along the lines of, "if bitcoin is a ponzi, then how comes people were making profit off it since 2012?", right? Well, to see if it's a good argument we should imagine a world where bitcoin is a ponzi, and see if the same statement holds there. Which it does, all ponzis are profitable until they burst, therefore people making profit off of some financial scheme doesn't mean that it's not a ponzi.
It doesn't mean that bitcoin is a ponzi, it means that your argument against it being a ponzi is invalid because it would apply to Bernie Madoff as well.
It's as if you found some sweet-tasting powder and claim that it's totally not a poison. "It's sweet, so it must be sugar, why would it be sweet otherwise?" you say. To which I point out that lead oxide is pretty sweet too. That doesn't mean that I definitively claim that your powder is a lead oxide, I'm saying that your argument for it being sugar is broken.
1 ineedmorealts 2017-11-11
That's already happened a few times.
1 fucknazimodz 2017-11-11
Nah. It's dropped a few times but the bubble hasn't popped.
1 DickingBimbos247 2017-11-11
I doubt BTC is going away anymore.
I think you're just bitter that you didn't buy BTC when you first heard of it.
I definitely regret not doing that.
1 fucknazimodz 2017-11-11
Just speaking the truth. Anyone with any knowledge of finance is smart enough not to invest significantly in bitcoin.
Do I wish I bought bitcoin 10 years ago? Yeah. Doesn't change the fact that sinking your cash into bitcoin now is pretty stupid.
Bitcoin exists in what is known as a bubble in economics. The only thing sustaining its value is the demand for bitcoin. Once that demand goes away for any number of reasons the bubble is going to pop and the value of bitcoin will crash to almost nothing.
Like I said anyone with basic knowledge of finance/economics can back his up
1 DickingBimbos247 2017-11-11
well it didn't exist ten years ago.
That's what you said the 8 years ago, and you would have been wrong, it's what you said the 7 years ago, and you would have been wrong, it's what you said the 6 years ago, and you would have been wrong, it's what you said the 5 years ago, and you would have been wrong, it's what you said the 4 years ago, and you would have been wrong, it's what you said the 3 years ago, and you would have been wrong, it's what you said the 2 years ago, and you would have been wrong, it's what you said the 1 year ago, and you would have been wrong.
1 fucknazimodz 2017-11-11
You're free to have an opinion and invest your money in any place you want. I only look forward to the juicy drama when bitcoin inevitably crashes.
1 DickingBimbos247 2017-11-11
which one do you think will crash first: gold or bitcoin?
1 ky1e 2017-11-11
I am confident in my long-term "investment" in Bitcoin of exactly $0.00 US dollars; should give me the same amount of return as every other long-term Bitcoin "investor".
1 BlessedAreTheMeeks 2017-11-11
Looks the fiat cucks have their feathers ruffled.
1 homeincomes 2017-11-11
u/twinkletoes232 Did I hurt your feelings or something?