lol, that's because they don't understand that Diamonds are just like Tulips investment wise. Maybe also relationship wise, I'll have to give a bunch of Tulips to someone and see if they result in the desired effect. It's not just De Beers. There is a reason that that little Bear is engraved on "Genuine Canadian Diamonds"
Bitcoin?
- Thread starter Jethro Bodine
- Start date
If I'm ever gonna pay that much for a shiny rock and the object has to have meaning, someone better have died to get it out of the ground...Conflict diamonds all the way. I'd want a woman to truly appreciate the amount of human struggle it took to get that rock on her finger.
Back on topic.....
Except this isn't how it works at all.
The ATM accepts money and gives you a "serial number" for Bitcoins stored in a wallet. It does NOT store at MtGox or any other exchange.
And a seller also does not have to have a wallet at MtGox or any other exchange either. Although to get fiat out they will have to send it to an exchange of their choice (preferably one more reputable than MtGox) or the ATM.
Once the exchange (or ATM) receives your Bitcoins, it credits you in USD/CAD which you're free to withdrawal via any method they allow for.
I for one like coinbase (which is based out of the US) which deposits directly into my bank account.
I can't believe it either.
I plan on inventing naughty bits coins. Anyone interested in joining in on my entrepreneurial quest to make millions?
Whoops! Polonix and Flexcoin join MtGox as places that have been stripped by those dastardly "hackers" http://gizmodo.com/bitcoin-bank-flexcoin-shuts-down-after-620-000-heist-1535960407
http://bitcoincharts.com/markets/
USD 1200 a week ago, now the ask is USD 135
I wonder if that guy that threw away a HD containing his Bitcoins is still digging in the landfill? Or is it no longer worth the effort? http://www.digitaltrends.com/computing/brit-loses-7-5m-bitcoins-throwing-away-hard-drive/#!ynTtu
http://bitcoincharts.com/markets/
USD 1200 a week ago, now the ask is USD 135
I wonder if that guy that threw away a HD containing his Bitcoins is still digging in the landfill? Or is it no longer worth the effort? http://www.digitaltrends.com/computing/brit-loses-7-5m-bitcoins-throwing-away-hard-drive/#!ynTtu
People that remember the discussions in 2005 know that I'm a "Gold Bug". However, it has to be remembered that Gold doesn't pay interest and the only Gold that is worth anything is Gold Coins.
Gold in a depositary is worthless, it has been oversold by the people that run the depositary and they DO NOT have enough Gold to give all of their customers the Gold that they think they have on deposit.
Gold in Bars isn't easily convertible if you ever need it and the same is true of 1 ounce coins. While I do have 1 ounce coins, most of my holdings are in 1/10th and 1/20th ounce coins.
Silver is also useful in Coins, not in Depositories or in Bars.
Gold and Silver coins are for when the world has gone to shit. Since stability will be sought out, you only need enough coins to survive a year and maybe to pick up available bargains in Real Estate.
People shouldn't have over 10 - 15% of their wealth in coins.
It is easily possible to make real wealth, safely, in the equity market. You just have to remember that the equity market is always a "bus ride". The first stop is always an opportunity. When the media starts "pumping" the stock, you know the stop at the bottom of the cliff is close by and that you need to profit take. Hanging in once the stock is dropping or buying when the stock is dropping because "it's a real deal" is how fools get rid of their money. The exception is when external forces are responsible for the drop. If the external forces are temporary, then you load up on the stocks that have real value.
Bitcoins are actually a great example of the "bus ride". Right up to last year, Bitcoins were worth little. Then the media got excited by the Bitcoin ATMs. Bitcoins went to USD 1200. Then the "hackers" got busy and so far have emptied 3 or 4 Bitcoin "Banks". Now Bitcoins are dropping over the cliff like lemmings. People that took their profit when the media got on the bandwagon are the winners. People that bought bitcoins because the media "discovered" them or greedy people that hung on for even more profit are the losers. It's the way it works.
It works the same way even when it's a company with a real, needed, product. Microsoft used to split their shares everytime the value went over $100. They haven't had to worry about that since 2000. Apple had their shares go up to $600 or more, now they are dropping.
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I have my silver 50/50 coins/bars. None of my metal is in a depository; it's all where I can access it immediately if I need it.
No, actually, I bought a $2800 car when silver was $27 or so an ounce. I don't need a 2014 car to prove anything to anyone.
I live VERY frugally. I have no debt. I pay cash for almost everything I can. My most extravagant expenses have to do with keeping up my appearance for you gentlemen!
I have a plan, and it does NOT involve growing old and infirm with no money.
The best way to buy coins is out of the 10% per month you should always save for yourself. Once you can survive for a year on what you have, you should be looking at other investments and only re-balancing your Gold so that it has the same weight in you portfolio. It's the same with Equity Shares, Real Estate, Bonds and what have you. You always get told the story of the guy who bought Bre-X and sold the day before Guzman jumped from the helicopter. It's bullshit of course. Nobody times the market that well. That fantasy is how Bernie Made Off with a chunk of sucker's money.
I have $300 coins and I have $1800 coins - right now, they are all $1328 coins. That's the way it works and why I don't crow over the $300 coins and haven't suicided over the $1800 coins.
The important thing is to invest 10% a month, more if you can - never less. The pension plans that people have voted themselves won't be around when we need them because people have also voted themselves low taxes. That's why the USA owes Trillions that they never intend to repay.
ps weird things are happening when you quote a post - ahhhsooo, you must delete the extra quote
lol, I LIKE 2014 cars, they have all the bells and whistles. I bought a Honda Fit when I came back to Canada.No, actually, I bought a $2800 car when silver was $27 or so an ounce. I don't need a 2014 car to prove anything to anyone.
I live VERY frugally. I have no debt. I pay cash for almost everything I can. My most extravagant expenses have to do with keeping up my appearance for you gentlemen!
I have a plan, and it does NOT involve growing old and infirm with no money.
I agree, when we get to be old and infirm - we are going to need to have stored away money against future need.
