The Stock Market, Investments, and Investing Thread
(03-21-2020, 10:19 PM)Contrarian Expatriate Wrote:
(03-21-2020, 08:34 PM)Viejo Sabio Wrote: So how easy is it to lose the "key" to the bitcoins in your cyber vault? How easy is it for someone else to access them and steal them or devalue them? OK if it sounds dumb then shame me. I admit I don't know how this thing works. I guess I'm old school and like to know my access to my wealth is as safe as possible. I realize we are one electromagnetic pulse from being in deep trouble. I also realize that hackers can drain your accounts so fast it will make your head spin. It's still possible, even likely to be recompensed (except for an electromagnetic weapon) but what happens if your bitcoins are raided? Yeah I know if it sounds dumb so be it but I am curious.
VERY EASILY.  Thousands of people lost their Bitcoin keys and a growing proportion of Bitcoin is lost forever!  Look at this poor bloke:




Really difficult to know, exactly, what is your point, Contrarian.  You are providing another piece of information about that same story that has been circulated thousands of times since 2013, or whenever it had begun to circulate.  This is not an unknown story, and it is hardly telling of any kind of point about bitcoin beyond the fact that if you fuck up your keys and you do not have a back up, then you lose all the funds.. There is no one that you can go to give you your funds back.  That is both a curse and a blessing in connection with what bitcoin is.

So, once you have that knowledge about personal responsibility in safeguarding your keys or even placing your keys with someone else to safeguard, then you will realize what the cost will be if you fuck it up.

Now, maybe some guys might conclude that the potential benefits of bitcoin do not outweigh the potential risks and the costs, and surely you, Contrarian, have already stated that you have currently concluded that bitcoins are not worth more than $2k to you - even though the street price of BTC has not been at or below $2k since mid-2017, and the BTC market, including various prominent and persuasive current BTC price prediction models seem to suggest that BTC prices are quite likely going to be heading up from here, rather than down, and I suggest that the current prominent and persuasive BTC price prediction models can be described around concepts of: 1) stock to flow, 2) 4-year fractal and 3) s-curve exponential adoption based on networking and metcalfe principles.

You, Contrarian, seem to hardly have any clue about the actual value proposition of bitcoin, so you spout out largely irrelevant and misleading nonsense, or even stuff that you don't even understand yourself.... take for example, the seemingly parody video that you posted on the bitcoin thread (see my response, here).  You seemed to have concluded that such video indicated that it was time to sell all your bitcoin, when largely the guy was saying the exact opposite, even though he was filled with seemingly doom and gloom and making fun of the situation drama during the height of that BTC price plunge on March 12th.
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RE: The Stock Market, Investments, and Investing Thread - by JayJuanGee - 03-21-2020, 11:58 PM

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