The Stock Market, Investments, and Investing Thread
#99
(03-21-2020, 03:56 AM)Contrarian Expatriate Wrote:
Quote:JayJuanGee

....It has a lot of very interesting attributes that should be attractive to any investor who is seeking some ways to attempt to have some investment stake in likely non-correlated asset.



I like this video.  Intelligent investors will see it as mere confirmation of what they already know about Bitcoin.  Brokecoiners will see it and want to make excuses and rationalizations about why catastrophic Bitcoin losses could never happen to them.



If you want to be affluent, ignore the Bitcoin cheerleaders, touts, and shills so you can invest intelligently and with peace of mind.

I don't know whether I should laugh or cry, Contrarian.

The above attached video (about 7 minutes) is even more non-representative of what bitcoin is about than the other video that you posted on the bitcoin thread last week.  I already commented on your posting of the other video in the bitcoin thread, and it seems that you did not even understand the meaning of that particular video.  

This above attached video discusses 3 examples of ways that bitcoins were lost through poor efforts at securing private keys (not taking bitcoin seriously and losing keys).  One example of a guy who traded to make profits in bitcoin and then lose all his money by continuing to make bad bitcoin trades. Another poorly described (actually inaccurately described) example of the current MT GOX non-resolution of lost coins and bankruptcy proceedings in Japan, and another example of how NEM coins were lost on an exchange (NEM is not bitcoin, but still I suppose that does not matter, because the guy does not know what the fuck he is talking about in half the video, similar to Contrarian not knowing what the fuck bitcoin is, either... go figure, but they both want to talk about it, as if they know something important.... hahahahaha).  

Overall, I would suggest that the video might be an interesting angle about some anecdotal evidence, yet hardly even reflective of what bitcoin is or is about.  

Actually there are probably more than 100 examples of various schemes in bitcoin, hacks and exit scams, and even more examples if we were to analyze the ICO (initial coin offering examples, too, and the various shitcoins that get attributed to being related to bitcoin because they are attempting to be copy cats, and get rich quick schemes, etc etc).  

Some of the ideas of maintaining your own coins has helped the proliferation of the mantra "not your keys, not your coins,"  which is meant to teach responsibility and values in attempting to learn how to safeguard your own keys and not to entrust your keys to others.  Surely not going to stop people from taking shortcuts, and surely, it is not easy to be your own bank, which is a dynamic that is offered through bitcoin and might not have really been available through other assets without considerable difficulties (such as the weight of holding gold or the difficulties in verifying it).  

Anyhow, if you want to hold your own assets there are certain safeguards that are possible to be taken, so that is likely a reason for guys to learn about some of these kinds of matters related to bitcoin early and attempt to practice and learn about bitcoin as a paradigm shifting phenomenon, so that guys might be in a good place to understand the actual innovative aspect of the bitcoin space, rather than FUD and misinformation that is frequently propagated through mainstream media and wannabe gurus like Contrarian, who hardly know shit (have I said that yet... hahahahaha), and also bitcoin potentially can serve as a tool that is a powerful way of having control over your own value that really had not been available previously... even thinking about storing thousands of dollars in your mattress might not be so practical when it comes time to move it.  

For example, one of the powerful use cases of bitcoin that might resonate with STW guys is the ability to have a lot of value and potentially millions or billions of dollars of value and to be able to move that value any place in the world within seconds, and no one can stop anyone from doing it.  Now, figuring out various liquidation avenues varies from region to region and is continuing to be a bit of an evolving space.   How much value can you move in Gold without being considerably encumbered?  Of course, moving money electronically will go through banks, and sometimes there might be "issues" with getting your own money, no?

   I suppose that if you have hundreds of thousands of dollars, or some other valuables that you might want to move, you probably could buy some protection (such as expensive lawyers), but with bitcoin, no third party is necessary for small amounts or BIG amounts.. which seems pretty damned powerful to me, but there still may be needs for creative means to make sure that you do not lose your coins or that you know of various ways to liquidate depending on where you are at.  

Of course, there are a lot of other powerful aspects in regards to holding bitcoin, but sometimes you have to use your imagination or search around to figure out if it might work for you, and there could be some difficulties in learning how to manage your own storage without losing your private keys, and probably that remains part of the reason that so many people will still hold their value on exchanges or with third parties, which could lead to a lot of difficulties if guys try to withdraw their coins.  

Anyhow, a lot of the best practices recommendations in regards to bitcoin continue to be that guys figure out ways to hold their own private keys and to take adequate safeguards in holding their own keys, but a lot of those recommendations are going to NOT even make sense to no coiners and bitcoin naysayers like Contrarian because he is NOT even talking from actual experience, but instead relying on what he has heard about the matter.  Contrarian is too busy waiting for $2k bitcoins, and just wondering how genuine he can be even about that, when he is hardly even trying to represent matters in any kind of even half way accurate way.
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RE: The Stock Market, Investments, and Investing Thread - by JayJuanGee - 03-21-2020, 04:56 AM

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