Just curious, are you saying this from experience? Were you at one time a landlord?

In some cases that's true. But for most people in the U.S., they basically end up spending 1.5X to 2X as much for the cost of their house over the life of the loan than they would have spent on rent for that same period.

And most people rarely stay in their house more than 10 years. So every time they sell, they lose on cap gain taxes. Then they start the whole debt clock over again with a brand new 30 yr mortgage with fresh new interest. So effectively, they never end up owning anything.

No not really. But depending on where you live there are ways to reduce it to an acceptable level.

Ah but you see, after a generation or two that problem will solve itself.

Snowflakes don't know how to be successful and make money. They only know how to run up debt (including student loan debt). So eventually their progeny won't even be able to afford those high brow schools anymore, lol.

Real estate as an investment is ok if:

1. You own it outright, or are actively working to own it outright

2. It pays you back (e.g., renter or leaser income)

3. It has some appreciation

Otherwise, it definitely isn't an "asset" unless it meets those criteria. It is a liability. I cringe when I hear people talk about their home as an "asset", especially when it's not paid off and they have zero intention of ever selling it.

Where's dat $2483 bearish call, sgbett?  Or even the $4100 one? Lol

4/30.

Last day to "sell in May and go away"?

Or

"Buy in May 'cause time to play"? 

So Forbes magazine spent all of 2016 and 2017 (two fucking years!) writing articles slamming Bitcoin. Calling it a complete fraud and a scam.

Now they come out with this:
https://www.forbes.com/sites/investor/2018/04/30/bitcoin-is-the-new-flight-capital/#1bded4873209

I'm seriously left wondering what angle they are now playing with this.  

TL/DR version: FUD

Longer version:
Whales pumped Square stock on the rumor/news they were integrating Bitcoin purchases into their app. Now the same whales are FUDing and shorting the stock.

This is the same old shit they always do. Go take a look at Overstock.com stock chart, they did the same pump-and-dump to them as well.

Does. Not. Compute.

You completely and totally missed the point of what I said.

I could hold some obscure penny stock and make the same claim as you. It doesn't make the penny stock worth anything, or what the issuers claim it will be worth "in the future". I just got lucky if its price rose to something higher than what I initially paid. It's price has nothing to do with what the company is worth or is capable of doing TODAY.

People are buying and holding Bitcoin because of what it can do TODAY. If its features never evolved from here, people would still be buying and holding it because they are satisfied.

You are not wrong. Buying/trading for and holding some obscure crypto coin or token, on promises and wishful thinking that its supposed features will cause it to skyrocket in popularity in the future (with no parameters that define when "future" comes), is just the stupidest mentality imaginable. It's like a mental sickness.

It's like those clueless investors that pumped hundreds of millions of dollars into Theranos, keeping them afloat for a decade but never questioning that they're IP was complete vaporware and fraudulent.

I'm surprised there isn't a shitcoin yet that purports to one day cure cancer "in the future". I'm sure it would be quite popular with the crypto idiots.

Bitcoin has proven its usefulness as a secure, decentralized means of value exchange and ability to store value *now*, today.

Warren Buffett is worth $87B. But he's also an 87 year old man that lives in the same house he bought for $32K and eats McDonald's every morning for breakfast and drinks Coca Cola all day.

So there's that.

In terms of price growth, I'm more apt to believe a trajectory based on logarithmic regression and Metcalfes' Law where the price growth slows down over time:



So in 16 years, we'd be lucky to be at a few mil. Maybe ~$10M if we're really lucky.

Bitcoin at $95M/btc in 16 years? HIGHLY doubtful. Can I smoke what your smoking? 

It depends. I kinda don't like that phrase. Because you are never going to lose everything, and most likely worse case scenario you only about break even after a few years.

To have a shot at becoming "rich", I would invest enough in Bitcoin that if you metaphorically lost it all (so to speak) you could confidently save it all back up in 4-5 years through working. Whatever that amount is. The amount is going to be different for different people. Also you need to plan to hold it for at least 6-7 years, with 10 being more optimal.

Investors just throwing in $100, $500, or $1000 because that's "all they can afford to lose" should resign themselves to never getting "Bitcoin rich". Sorry but it just ain't going to happen. It takes money to make money, as they say.

Most people just don't have the patience to hold any asset for a long period of time before selling. They feel that 1-3 years is about all they can do before they get the itch to liquidate. Or they've invested more than they can truly go without for very long. Either way, they end up liquidating WAY before they should, and usually at the exact wrong time.

The other reason that most people don't 'get rich' is they simply never invest *enough* in the first place. These are the investors that put $100 in, then whine that they aren't 'rich' just a few years later. Or even a decade later. Then they liquidate and buy something frivolous that depreciates.

Lastly, people that 'diversify' like crazy will never, I repeat will NEVER get rich. Period. There I said it.

The guy that tried to buy mine said "name your price." In a moment of weakness a lot of prices instantly flashed through my mind, lol.

Tell him you need the $100 in bitcoin and watch him disappear