Bitcoin, will you join the pyramid scheme and get rich?

[maryjames]

I see nobody accepting Bitcoin for anything but drugs.

Banks in Miami were built solely on drug money. Should had started a bank. Missed out on that action

 

[El Dubya]

I see nobody accepting Bitcoin for anything but drugs.

Weapons.

 

[Hens Hall]

How did that go for Lehman Brothers etc?

That's why you diversify.

Avoid the old eggs in one basket issue.

 

[Hens Hall]

In its current format is more an investment than a currency. Once the price stabilises though it would be no different to trading in gold or USD/AUD which both fluctuate in price

It's not really an investment.

It's pure speculation at this point in time and far more volatile than gold or FOREX trading (again both are more speculative then an investment).

 

[DaveyRS]

That's why you diversify.

Avoid the old eggs in one basket issue.

Let me guess you are a financial planner or studying this at uni and recommend people stocks without having a single ****ing clue if they’ll go up down left right or collapse but you’ll shit on bitcoin coz you don’t understand it

 

[Hens Hall]

Let me guess you are a financial planner or studying this at uni and recommend people stocks without having a single ******* clue if they’ll go up down left right or collapse but you’ll shit on bitcoin coz you don’t understand it

Right on most counts.

I don't shit on BitCoin just clarifying a few points

 

[maryjames]

Bitcoin has gone up 500,000,000 percent since 2010. Holy shit. Lol. Haha. **** me. How the **** would you not want to be part of this Ponzi scheme. Lol.

 

[maryjames]

That's why you diversify.

Avoid the old eggs in one basket issue.

**** that. This trucker dude in America sold his house and through all of his money into litecoin earlier this year. Lol. Only went up 6,000percent. What an idiot. Haha.

 

[GudOnya]

Yeah quick everyone invest everything into bitcoin you'll make millions

 

[Geelong Dynasty]

Maybe the Hawks should buy some bitcoin and use it to build on their tip, instead of begging for handouts from the old school tie.

 

[maryjames]

Yeah quick everyone invest everything into bitcoin you'll make millions

Ummm yes. It’s happened to many.

 

[Gene Simmons]

A better analogy is, they're the same ones who didn't get sucked into the DotCom bubble and invest in businesses with no revenue or assets to speak of.

So you mean businesses like Uber, airbnb, alibaba, facebook...?

 

[kingy88]

So you mean businesses like Uber, airbnb, alibaba, facebook...?

Facebook had 27.6bn USD revenue last year
Uber 6.5bn USD
Alibaba 23.8bn USD
Airbnb 1bn USD last quarter


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[GudOnya]

Ummm yes. It’s happened to many.

Many made millions on tobacco too, doesn't make it a good investment now though.

 

[maryjames]

I’ll just tell ya something guys. This young fella who only just started trading 7 weeks ago from $750 is now over 50,000. Wtf what a Ponzi scheme. Lol.

 

[maryjames]

Many made millions on tobacco too, doesn't make it a good investment now though.

Money is money. You sound like you missing out

 

[Gene Simmons]

Facebook had 27.6bn USD revenue last year
Uber 6.5bn USD
Alibaba 23.8bn USD
Airbnb 1bn USD last quarter


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And neither of them own any assets..... interesting

 

[DaveyRS]

Two types of people in life successful ones and ones who would rather pot them

 

[Bombermania]

Better path to richness is to put money on Essendon winning a flag sometime in the future.

At least the melts will be just as much fun has the melts will be when this bubble bursts.

 

[DaveyRS]

Better path to richness is to put money on Essendon winning a flag sometime in the future.

At least the melts will be just as much fun has the melts will be when this bubble bursts.

That post is bad and you should feel bad

 

[maryjames]

Two types of people in life successful ones and ones who would rather pot them

The rich and poor divide is growing at a rate faster then ever right now. The sad fact is “the poor” in Australia can actually make decent money in this climate if they can grow some balls..
I remember when I though in money on crypto and dudes were saying scam scam you will lose blaa blaa blaa. And now years later.. surprise surprise they are all doing it and loving it and making serious money. Won’t be long now until the people on this thread screaming scam etc will be doing crypto. It’s just a matter of time.

 

[Bombermania]

Same could be said for the share market

Not really because when you buy a company you gain access to its dividends and you can hedge against the share price going lower.

Bitcoin has minimal underlying asset value at this stage and wont until it can be officially brought into the currency market.

 

[kingy88]

And neither of them own any assets..... interesting

Facebook as of the end of 2016 had 65bn USD in total assets.

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[Down at K Park]

So you mean businesses like Uber, airbnb, alibaba, facebook...?

They provide services, take a cut on sales or rake in advertising dollars.

What does bitcoin provide except a coming bubbleburst and fall to zero worth?

 

[maryjames]

They provide services, take a cut on sales or rake in advertising dollars.

What does bitcoin provide except a coming bubbleburst and fall to zero worth?

You realise you can cash out yeah? Let’s say when bitcoin was at $100 its went up 100 percent and I cash out my $100. Now whatever happens is fake. The money I make from now on is bonus. Now the crypto game becomes fun. Imagine if it went up 1000 percent or more. It has.

Dudes are missing out big time. Go to coinmarketcap and look at all the trading that can be done then look at the percentage of growth that has happened let’s say since day 1 or the last 12 months. It’s embarrassing to me that everyone is not doing this.