Bitcoins - fad or trend?

Discussion of all things crypto and blockchain.
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BigBamboula
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Re: Bitcoins - fad or trend?

Postby BigBamboula » Fri Sep 06, 2019

Bucketeer wrote:Really? Bitcoin has been declared dead 375 times in 10 years. Good luck buying a gallon of milk with a Gold Eagle.
https://99bitcoins.com/bitcoin-obituaries/


Probably right about the gallon of milk, bet I could find a farmer to sell me a cow for a Gold Eagle though.

How much does a cow cost 2019?
Based on the 2019 budget, slaughter cows (1,200 pounds) are expected to average $50 per hundredweight, while 550 pounds steers and 520 heifers are expected to average $145 and $130 per hundredweight respectively.Jan 2, 2019

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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Fri Sep 06, 2019

BigBamboula wrote:
Bucketeer wrote:Really? Bitcoin has been declared dead 375 times in 10 years. Good luck buying a gallon of milk with a Gold Eagle.
https://99bitcoins.com/bitcoin-obituaries/


Probably right about the gallon of milk, bet I could find a farmer to sell me a cow for a Gold Eagle though.

How much does a cow cost 2019?
Based on the 2019 budget, slaughter cows (1,200 pounds) are expected to average $50 per hundredweight, while 550 pounds steers and 520 heifers are expected to average $145 and $130 per hundredweight respectively.Jan 2, 2019


I'm urban, and have no idea how to milk, feed, or slaughter a cow. Your retort doesn't apply for most people.
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BigBamboula
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Re: Bitcoins - fad or trend?

Postby BigBamboula » Fri Sep 06, 2019

Bucketeer wrote:I'm urban, and have no idea to milk or feed a cow, as are most people.


Of course you do, cow eats the grass, you sit on a stool and pull the udders to make the milk come out.

Maybe it's different in the city ...
Last edited by BigBamboula on Fri Sep 06, 2019, edited 1 time in total.

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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Fri Sep 06, 2019

I live in a mobile home park on a lake. I don't have enough grass for the cow, plus the fecal matter would be a real problem. What would an apartment dweller do?
Last edited by Bucketeer on Fri Sep 06, 2019, edited 1 time in total.
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BigBamboula
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Re: Bitcoins - fad or trend?

Postby BigBamboula » Fri Sep 06, 2019

Bucketeer wrote:I'm urban, and have no idea how to milk, feed, or slaughter a cow. Your retort doesn't apply for most people.


It does apply. Gold is for capitol/wealth preservation, i.e. you buy a car, or a cow or a house with gold.

little bits of silver are for trading for everyday things, some food, a bit of fiat etc.

Nobody would want to go grocery shopping with a gold coin. That's not how this works.

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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Fri Sep 06, 2019

BigBamboula wrote:
Bucketeer wrote:I'm urban, and have no idea how to milk, feed, or slaughter a cow. Your retort doesn't apply for most people.


It does apply. Gold is for capitol/wealth preservation, i.e. you buy a car, or a cow or a house with gold.

little bits of silver are for trading for everyday things, some food, a bit of fiat etc.

Nobody would want to go grocery shopping with a gold coin. That's not how this works.

Yes, but how many people have silver coins, or even know what it is? Same with merchants.
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BigBamboula
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Re: Bitcoins - fad or trend?

Postby BigBamboula » Fri Sep 06, 2019

Bucketeer wrote:Yes, but how many people have silver coins, or even know what it is? Same with merchants.


more than have bitcoin

everyone knows what silver is

merchants especially

Greenspan: Rising Gold Price Shows Investors Want Hard Assets That Will Increase In Value

http://www.zerohedge.com/news/2019-09-06/greenspan-rising-gold-price-shows-investors-want-hard-assets-will-increase-value

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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Fri Sep 06, 2019

Cointelegraph: 2 Bullish Crosses Suggest a New 2019 High Is in Play.
https://cointelegraph.com/news/bitcoin-price-2-bullish-crosses-suggest-a-new-2019-high-is-in-play
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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Fri Sep 06, 2019

BigBamboula wrote:
Bucketeer wrote:Yes, but how many people have silver coins, or even know what it is? Same with merchants.


more than have bitcoin

everyone knows what silver is

merchants especially

Greenspan: Rising Gold Price Shows Investors Want Hard Assets That Will Increase In Value

http://www.zerohedge.com/news/2019-09-06/greenspan-rising-gold-price-shows-investors-want-hard-assets-will-increase-value


Try to explain a Mercury dime to a 17 year girl in the check-out line. Bitcoin needs a wider adoption to be a currency, but it's a very nice asset. so is silver and gold.

Always keep cash on hand. After Hurricane Irma, I learned my lesson about holding small dominal cash.
Last edited by Bucketeer on Fri Sep 06, 2019, edited 1 time in total.
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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Fri Sep 06, 2019

"Gold is up more than 21% on the year and is trading at levels not seen since 2013"


How many people bought Bitcoin at $200, $650, $1000, or even $3200. That's within the past 2.5 years. Cry me a river.

Bwahahhaha!
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Rik Bitter
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Re: Bitcoins - fad or trend?

Postby Rik Bitter » Fri Sep 06, 2019

Bucketeer wrote:
"Gold is up more than 21% on the year and is trading at levels not seen since 2013"


How many people bought Bitcoin at $200, $650, $1000, or even $3200. That's within the past 2.5 years. Cry me a river.

Bwahahhaha!


In fairness, how many bought Bitcoin at 20K, 18K, 15K?
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Re: Bitcoins - fad or trend?

Postby tdtwedt » Fri Sep 06, 2019

Miss Finland Warns Women Wary Of Bitcoin Risk

In a Twitter discussion on Sept. 5, Miss Universe Finland 2015 winner, Rosa-Maria Ryyti, argued Bitcoin’s risk factor made it more appealing to men.

She was responding to a query by analyst and Cointelegraph contributor, Filb Filb, who asked followers why the Bitcoin community was overwhelmingly male.

“Women are more risk-conscious in general and often go for a ‘slow & steady’ investment strategy,” Ryyti wrote, adding:

“The current general perception of Bitcoin in the msm makes it even less probable for the average women (and men) to get involved.”



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https://www.zerohedge.com/news/2019-09- ... tcoin-risk


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grantwoodisgold
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Re: Bitcoins - fad or trend?

Postby grantwoodisgold » Fri Sep 06, 2019

BigBamboula wrote:
Bucketeer wrote:I'm urban, and have no idea to milk or feed a cow, as are most people.


Of course you do, cow eats the grass, you sit on a stool and pull the udders to make the milk come out.

Maybe it's different in the city ...


iirc you pull (actually squeeze and pull) on the teat(s), not the udder :kitty:

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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Fri Sep 06, 2019

I don't drink milk, and I'm not going to pull teats. I thought that was almost completely automated. Coffee black, thank you sir.
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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Fri Sep 06, 2019

Rik Bitter wrote:
Bucketeer wrote:
"Gold is up more than 21% on the year and is trading at levels not seen since 2013"


How many people bought Bitcoin at $200, $650, $1000, or even $3200. That's within the past 2.5 years. Cry me a river.

Bwahahhaha!


In fairness, how many bought Bitcoin at 20K, 18K, 15K?


Buying at those prices was insanity, so just HODL, you'll be rewarded. I've been unwater in Bitcoin and it hurts, but I learned to quit watching the price and follow the adoption rate. You gotta learn to HODL. Most "traders" flame out.

The "Strolling Bones" have been around a long time. They are still touring. So will Bitcoin. HODL.

Last edited by Bucketeer on Fri Sep 06, 2019, edited 1 time in total.
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Re: Bitcoins - fad or trend?

Postby cmiller17363 » Fri Sep 06, 2019

I'm doing a bit of a Gresham's Law experiment over in the Gold Buy/Sell thread. I have had a few fiat offers, but no one has made an offer to buy my gold with their bitcoin. Interesting. Now the question is, do people think that bitcoin is better money than gold or do they just see larger speculative potential in bitcoin? I feel it is probably the latter. Anyone wanna buy some gold? :lol:
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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Fri Sep 06, 2019

A large percentage of Bitcoin holders also own gold and silver. I do. I also think Bitcoin is a better asset than G&S and has a larger future value. Gresham's Law has been proven over time. Adaptation is key to any asset or currency.
Bitcoin is only 10 years old.

Go to a Burger King in Germany. They now accept Bitcoin. Adaptation takes time, and Bitcoin is still in the early 1st inning of this game. Stablecoins may have some utility, but it is simply speed and ease of use. Bitcoin is a precious asset.

Stablecoins and Bitcoin are 2 different animals.

I stated in this topic in Dec 2016 or Jan 2017 that people will regret not buying Bitcoin at $900 or $1000.That was a bold statement to make, and I'm not somebody that makes price predictions. Regardless, I doubt if we will ever see Bitcoin at $1000, even if the US Government banned it.

I'm loaded with G&S, which hasn't performed very well over the last 5 years. My Bitcoin---->ZOOM!

I still buy some silver every week because I like silver and I like my LCS. The owner hates Bitcoin, but he makes a good cup of coffee. A good LCS is key to G&S investments, and most transactions are cash without any receipt.

I don't buy Bitcoin anymore. I got in cheap, and after studying Bitcoin for more than 5 years, I still don't understand it, except if many people are willing to trade it at a relative price, it has value in the marketplace.

I think Gresham's Law applies to Bitcoin, if you are willing to accept the volatility. Sorry for the lecture.

: soapbox now open :
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Bucketeer
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Re: Bitcoins - fad or trend?

Postby Bucketeer » Sat Sep 07, 2019

Bitcoin and Gold are down.....relax and HODL. Be a Believer.

Gentlemen prefer Engelhard.

Don't let Apple turn 2020 into 1984.
https://tinyurl.com/y4hdgd7a

If Steve Jobs was still alive, he would have fired Tim Cook 2 years ago.

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SilverDoge
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Re: Bitcoins - fad or trend?

Postby SilverDoge » Sat Sep 07, 2019

BigBamboula wrote:
Bucketeer wrote:Yes, but how many people have silver coins, or even know what it is? Same with merchants.


more than have bitcoin

everyone knows what silver is

merchants especially

Greenspan: Rising Gold Price Shows Investors Want Hard Assets That Will Increase In Value

http://www.zerohedge.com/news/2019-09-06/greenspan-rising-gold-price-shows-investors-want-hard-assets-will-increase-value


Short answer: no. Knowing what silver is, and understanding relative value are completely different things. Own both.
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Re: Bitcoins - fad or trend?

Postby jcz1 » Sat Sep 07, 2019

Bucketeer wrote:
Rik Bitter wrote:
In fairness, how many bought Bitcoin at 20K, 18K, 15K?


Buying at those prices was insanity


Why? Don't you always say the price doesn't matter, just hold on and you'll be rewarded? It seems like you're admitting that those prices were too high, which would also mean that was the time to sell.

You can't have it both ways. :roll:


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