Well it's not that they have so little cash that they can't even buy groceries. I think in general consider they cash as junk that constantly loses value and that the less you have the better. But yes, they have little cash.

In my case I think it's okay to have a certain amount of cash for the short term. It is true that it is deflationary and that the speed of money printing has accelerated in the last year, but we are still far from hyperinflation like in Venezuela or the Weimar Republic.

Another point to consider here is that I think everyone in the thread has spoken out against getting into debt, but it is very common for large companies or very wealthy people to do so, even when they could pay in cash. See for example Mark Zuckerberg:

"Even billionaires like Zuckerberg have mortgages. Zuckerberg refinanced his $5.95 million Palo Alto, California, estate in 2012 into a 30-year adjustable rate mortgage at an interest rate of just 1.05%. Zuckerberg can clearly afford to just pay cash for any property he wants."

Source: "Why Get a Mortgage if You Can Pay Cash?"

In this case, the reason is twofold: tax reasons and the fact that inflation is above 1%, so borrowing at 1% is making you money, but as we said before that implies risk.

I think this only makes sense to do if your wealth is much higher than the loan you are borrowing, so the risk is very low. If things go bad, there is a downturn in the market, etc. you can pay off the debt without any problems, and I would apply the same to borrowing with Bitcoin.

That is great news! This is to not surprising coming from a company with the great reputation that freebitco.in has. It shows it cares a lot about its customers.

According to the article that's not legal. It would be surprising if it were, selling indigenous reserves and protected areas. The problem is that the people who buy then take possession of the space as if the purchase were legal and the government seems to turn a blind eye on it.


But no, that's not what they type, according to the article " "forest", "native jungle" and "timber"" are the search terms.

You haven't quoted me but I understand this is a reply to my post. Yes, I am categorical because I've seen it many times: people wanting to get a quick buck by investing either in the stock or the crypto market. Of course, we don't know all the details, we don't even know if the OP has made up the story, but what a reasonable person who wants to invest does is read a lot, inform himself a lot and if he does that, then questions may arise but more complicated than the one posed by the OP.

I would say that the OP has even misused the verb. His friend is not thinking of investing, for if he were, the best time would be now. For someone who has studied bitcoin, who has convinced himself that it has a promising future, it is not even worth doing DCA, which @orions.belt19 has exposed earlier. DCA is just to psychologically withstand short term swings. But if you are going to invest in an asset with promising future, the best time to invest is now, ASAP. And if you add investment in the future, it is not so much to average the purchase price but because you consider that the initial investment is not enough.

Well, I don't know what stance @CryptopreneurBrainboss will take. We might think he doesn't know the rules but multiple posts to me are a clear way to cheat the system. I see intentionality of cheating there. But maybe @CryptopreneurBrainbos can give him a warning and he will have the opportunity of changing his behavior.

Great explanation, but I think those who are scared are also too emotional to attend to the reasons you state. They are part of the reason why there are retreats. They buy when it's too high, then some whale sells a good amount, the price goes down, they get scared and sell. I've got a friend who's done that a few time (in the stock market).

I think you are more convincing to those of us who are not scared.

I'm glad that so far the posts agree with what I think. Debt involves risk, and we don't know for sure what will happen in the future. Even if we are very clear that Bitcoin has a promising future, that in the long term it will go up a lot etc., the best thing to do is not to get into debt and if necessary sell small portions or other strategies to avoid debt.

I do not like debt.

I think a lot of the financial problems the world is dragging down come in large part from debt. The over-indebtedness of people, of states, of companies. Money is created as debt. At first it was mortgages and personal loans, then credit cards, but today you can finance practically everything.

I've been hearing the idea that selling your Bitcoin to take (some) profits is stupid. That it would be better to borrow against it and let it keep growing. I heard this from Saylor a Max Keiser. If you really believe that Bitcoin is going to keep growing, that it's going to reach $1M or more, why are you going to sell it at $50k?

The idea would be to borrow using the Bitcoin as collateral, and refinance as the price continues to rise. That way you don't sell your Bitcoin and you don't pay taxes, income tax or capital gains.It should be done with a low debt ratio, which will allow you to weather a bear market storm for a couple of years.

I do not see it clearly, I understand that in general the best you can do is to avoid debt and increase your net worth, and you can only sell partially when the price reaches certain milestones. For example, you sell 25% when the price reaches $100k, another 25% when it reaches $250k, and so on.

I don't like the idea they propose either, because if it were to become generalized, bitcoin would be encouraging the very thing it proposes to flee from: bitcoin is an alternative to money as debt and encouraging massive indebtedness by taking bitcoin as collateral seems paradoxical, to say the least.

I'd like to know what you think about it.

Markets are irrational in the short term, and in the case of Bitcoin and cryptocurrencies even more so. Gates' statements may have played a role along with other factors, but what was clear is that we were not going to go up in a straight line to $100k. We are having very good returns this year, days of beating ATH after ATH, corrections like this are normal.

I guess he's going to get the Nobel Peace Prize, then, like Obama.

I've googled the sujbect just in case and I can't see many links but there are some so the news seem true:

US carries out airstrike against Iranian-backed militia in Syria in Joe Biden's first military action.

Well, Buffet and Munger are not gods who have the absolute truth in everything they say. Let's remember what they think about Bitcoin. So, I would relativize what they say.  Those who have saved and invested in index funds over the last 50 years have done well, and they didn't need to know much about investing or index funds to do so. On the other hand, we can see fund managers cherry-picking and failing miserably in their decisions, performing worse than index funds. So, although as a general idea I agree that you have to be knowledgeable about what you invest in, I don't consider it an absolute truth either.

Better to go to the casino and play them at roulette. It wouldn't make much difference to what he wants to do. He does not know whether to buy Bitcoin and is going to rely on the opinion of others instead of studying the subject, and besides, from what you say, it seems that he does not want to invest for the long term, but to get a quick buck.

As I said, tell him to go to the casino and he will waste less time.

Well, I think it may benefit to some extent but I don't think it's going to be very significant either. Paypal allowing their users to buy Bitcoin and Mush buying Bitcoin for Tesla I think have been much more significant than this could be.

I think it's pretty clear that Bitcoin is going to prevail as a store of value (it is already doing so). For day-to-day payments I am not sure, Strike seems to me an interesting lightning project that looks likely to succeed, but you never know. If it is not lightning it will be some alt.

The idea is good, but let's break down the numbers.

If Bitcoin goes to $2M, the person will get a nice return, $20k, but it won't be life changing.

As for a satoshi being worth $1 in the future, it's not going to happen. And if it happens it will mean that the $ will be extremely devalued.

1 satoshi= $1

means that

1 BTC = $100M.

Forget about it.

Anyway, I think the advice is good but I would also advise to add a little BTC every month, even $10 or $50.

They do not want to learn that the legitimacy of a decentralized currency is given by its users. As he represents a shitty centralized system with a shitty currency that is worth less and less due to the abuses of him and all those in power, he thinks that by saying that he will be able to save himself.
The legitimacy of Bitcoin is becoming more and more firm and it is gaining ground to his currency as well as to the rest of the fiat currencies, and he can do little to stop this.

In my case I think having optimal vitamin D levels is going to be at least as effective as the vaccine, but you won't hear the pharmaceuticals talking about this. Neither will the mainstream Mass Media but there are plenty of articles in Pubmed and scientific journals on this.

The point is that optimal Vitamin D levels can be obtained for free from the sun or cheaply in supplements sold in herbalists, but that is of no interest to Big Pharma.

On the other hand, I do not trust these vaccines, at least in principle, but I have several friends and acquaintances working in health care who have already taken them and and what they usually say is that they had mild symptoms the next day similar to a cold. But what you cannot do if you distrust vaccines is to close your eyes to the evidence and say that a lot of people are dying because of them because that is make up a story that has nothing to do with reality, and that you can't prove because if people were dying everywhere, the mass media couldn't hide it and you could post links here..

You call yourself stupid and you are looking for investors. At first glance, it doesn't look to me like you're going to be very successful. If you want investors to invest in your projects, the first thing you need to know how to do is to sell yourself.

This being said, the best of luck for you.

Do you even care to read what people write before you? It is pretty clear if you read the previous comments that he hasn't lost the keys, he's probably so loaded than he can leave those Bitcoins there untouched.

I think they will become as popular as fiat currencies are nowadays. Another thing is that people realize that they are the same inflationary crap as cash, while there is a superior alternative like Bitcoin.