How is a home not an investment?
Is rent free where you are?
Your home is a place to live. It's been covered many times and extremely well as a quick google will show you. I'm not interested in an argument and have no problems if people disagree but maybe it plants a seed that one day flowers because it's an extremely common misconception. Buying rental properties can be investment for sure though. |
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Fires in fireplaces are banned in London. Her Majesty can't be seen breaking the rules.
Even still, there are a bit more stylish options available. Though she is known to be thrifty ironically enough. |
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Yes - this is the bit I can't be bothered with, on other forums you can just paste the image. Pity that.
If only Theymos could afford new forum software. Or to scrape together the shekels to improve this one. SMF © 2006-2009, Simple Machines Powered by SMF 1.1.19 SMF 2.0.18 Released |
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Now that the 50k cherry has been broken
It was just the tip. |
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making a single BTC out of reach for the ordinary person, which it almost already is.
You'd basically have to sell Bitcoin like a car for that to be a reality for the vast majority. |
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Good morning WO. Oh snap did we touch 50k?  Yes. Briefly while I was asleep  |
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I'm not really sure if "taking profits" in fiat can really be considered correct phraseology any longer.
I don't think you guys are getting just how far gone the current fiat banking systems are. It's like saying taking profits in Zimbabwe dollars, or taking profits in Venezuelan bolivars, argentine pesos ... at some point it's nonsensical to talk about taking profits if you're buying a higher risk devaluing asset
It depends what you're buying. fiat or an investment (which your home is not) then probably not but if you're materially improving your life (even in trivial or ephemeral ways) then I think it's fair. |
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Bitcoin behaves like it is stuck in a rut
Sometimes the old memes are the best.  |
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Regarding the Antonopoulous example, I am not sure about your reference. Are you talking about him having had failed and refused to save bitcoin because he was spending it all the time, or are you talking about some other example, because the failure and refusal to save bitcoin seems to be an issue that is not related, unless you want to describe the connection that you are suggesting to exist.
That is indeed the example. Not directly relevant but included only as an example of a Bitcoin strategy that is quite clearly wrong. surely you, Richy_T might well assign higher values to such going to zero scenarios
You would be surprised. I think it highly unlikely. The fork was a special situation where if BCH had attained dominance, I would have considered it the continuation of Bitcoin and thus all would have been well but even if that were the case, I don't think BTC would have gone to zero, certainly not in a hurry and certainly not too quickly for anyone paying attention to make an exit (though not a big issue due to the nature of the fork). Though that's pretty much water under the bridge for now, I think. The real risk would be a technological threat to the protocol. I consider that highly unlikely. Although there have been some suggestions that the algorithms used may have some deliberate weaknesses, I don't put a huge amount of stock in them. What I do try to bear in mind is that there is always the possibility that I am wrong about this or that. If it's possible to protect against being wrong with little cost, it seems worthwhile to do so. Overconfidence is a trap for the unwary. Doors and corners (for those familiar with The Expanse). |
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So, sure, there could be some value in taking a bit "extra" out of BTC at some point in order to account for "what if the going to zero actually happens," event. I might have to reflect on this a bit more - under the current BTC price location - to consider if I have adequately prepared for this, both psychologically and financially. I believe that I had prepared for such scenario earlier, in the sense that I had considered that I had no real problem, either psychologically or financially if BTC were to go to zero.. but NOW, the BTC price is like 5x higher than my latest times in really seriously thinking about the matter.
Indeed. My point is not so much that there is a "right" way to do things, more that in the face of a future we can't know, there may be several options that are not really wrong. Though there are surely more than a few that are (as Mr Antonopoulos well demonstrated). |
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For using the inverter, my car has a big sized battery so we just ran it off of that. If the battery would have got too low, I would have just jumped it off my wife's car and let it charge up. Fortunately, the roads were usable fairly quickly, they just took a long time to reconnect our electricity (Due to some weird circumstance, we were the only one on our street on the broken circuit and they were repairing in order of number of people affected). |
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Sure.. in theory, taking out house money can be good in theory, especially if you are afraid about bitcoin's future performance or if you are afraid for your initial investment.. but jeez.. you can take out your initial investment way too damned soon and then screw ur lil selfie out of a whole hell of a lot of profits because you wanted to feel MOAR comfie. I think that currently, my initial investment is about 1.5% of the value of my BTC.. something like that. So the BTC price would have to go down to 98.5% to around $700 for my investment to be equal to the size of the value of BTC... Why even fucking bother pulling out the value of the investment just to feel comfie.. hardly makes sense to me, especially if you invested in such a way that you were NOT investing more than you can afford to lose.. but whatever, if that's what makes peeps more comfie, then go ahead.. and surely it makes more sense when you are up 60x or whatever because taking out the initial investment does not draw down the principle nor the whole investment very much, but it makes a whole hell of a lot less sense if you might only be 2x or 3x in profits or something like 10% to 30% or so in profits which would have been the paltry range of mindrust's profit status around $4,500, which seems to have been the point that you were making, xhomerx10... so you and I, xhomerx10, are making the same point in different words.. wall of text from me, and normal talk from ur lil selfie.  This is true enough but if Bitcoin drops more than the gut-wrenching rollercoaster that we're used to, it's not going to be 98.5%, it's going to go to 0 because some protocol breaking bug or vulnerability will be found. I don't think it's likely but if it did, it's comforting to know I got something out of it already. Anyhow "knowing better" is a frequent problem with gamblers, people relying on bad sources of information and dreamers.
No doubt. They also tend to over-emphasize their gains and discount their losses. |
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the police did not know of such a thing, they over-reacted in a big way.
The police typically know astonishingly little about the law. It's why it's best to shut up and comply and sort it out with a lawyer later. Not that I think it should be that way. |
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Always make sure your house has a fireplace. Friend in Texas is -3 temps and no power. A miserable heat pump won't do squat in that case.
Heat pumps aren't very efficient in very cold temperatures anyway. Ours is dual fuel. Though that still doesn't help much when the power goes out. I need a generator with 240V. Last time we lost power, we used a little Mr Heater heater and an inverter for the electrics. The stove is gas too so that came in handy. We do have fireplaces but no clue when they were last used so I wouldn't dare use them without an inspection. |
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Nice "recursive" editing, Richy I felt compelled to reply. That guy writes a lot of sense  |
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ECB took to their Twitter account on Valentine's Day to Tweet out a love poem about monetary policy.
Roses are red
Violets are blue
We’ll keep financing conditions favourable
‘Til the crisis is through#ECBmyvalentine #ValentinesDay
— European Central Bank (@ecb) February 14, 2021 ... the delusion grows strong with these ones "Favourable to whom?" is the appropriate response. |
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Fiat assets seem more risky that fiat, the stock market in particular. Yes there will be inflation (probably) to reduce the value of fiat somewhat, but looking at the size of the bubble, I don't see it being all eaten by inflation. So fiat will lose a few % a year, while the stock market could krach 30% or more quite easily.
Inflation typically feeds into the bubble. All that printed money has to go somewhere. Now, of course, some of it is going into BTC too. |
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Why does he sold all his coins at the bottom? I can't get it even now. If you have a work and hobby, you can just "forget" about your coins. If it fail, in factnothing will change for you. Yeah, you will regret this all your life "Oh, i could sold it and bought new Cadillac for myself!". But what will be (in fact what already happened in mindrust case) if this will success? If you've sold at the bottom, you will regret your actions much stronger than in if it would fail.
Yes. If you have "a lot" of Bitcoin and it's all just stressful to you, sell 3/4 and put the other 1/4 on a cold wallet in a drawer somewhere. Use the cash wisely, have a good life and if things go well, you'll still end up with more wealth than you'll ever need. I really need the lockdownz to stop:
Where are you located? Lots of places lockdown isn't much of an issue at the moment. I'd be planning a long vacation in Florida if it was stressing me out. Fortunately, it's not too bad here (though we're in the middle of an ice storm right now). Yes. If you have "a lot" of Bitcoin and it's all just stressful to you, sell 3/4 and put the other 1/4 on a cold wallet in a drawer somewhere. Use the cash wisely, have a good life and if things go well, you'll still end up with more wealth than you'll ever need.
AKA Never go full fiat. |
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Of course this thought has also crossed my mind. But I feel like the fundamental landscape will make this hard. Demand for the asset would have to be dried up, and I have a hard time seeing that being the case right now.
Worth considering that public announcements have a tail effect as it takes people time to jump on, get exchange accounts, paychecks etc. Though the next big thing seems to be likely to be any stimulus that might materialize. |
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(But for the love of god don't buy an expensive car with it, that's just stupid)
To be fair, if Bitcoin gets to 1M, I may buy an expensive car with it:) |
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