Quote:
Originally Posted by GregWeld
All people really need to understand about stuff like this is that it's the difference between INVESTING -- and GAMBLING.... Some people gamble and hit HUGE winnings... others just drip their money away every week buying "stuff" hoping they're going to be winners.
I'd prefer to actually invest.... and I'm the kind of guy that could actually afford to gamble. I just can't be bothered. I don't even buy lottery tickets or Mega power whatever they ares... Bitcoins fit this category... it's just gambling. You're just gambling that someone is going to pay more than you paid... because you're not buying anything more than that. You're just buying something and hoping like hell that someone else will pay more than you did... thus making you have a "gain". As long as someone else is around - great... things go fine. But what you're really buying is nothing more than a fart in a windstorm.
My wife and and argue all the time about spending money... we don't actually argue about spending money -- we just see value in different kinds of spending money. She would spend - and does in fact spend - huge sums traveling... and on clothing... To which my way of thinking is that you might as well walk outside and toss the money in the street... I prefer to buy STUFF... real stuff... that if I want to I can sell at some point and get "some" of my money back. We discuss it this way.... Even if I ONLY get 50% of my cost back -- I have something -- where as there is ZERO return EVER on a trip... other than the memory. I get the memory part out of owning my stuff AND I get something back...
We just agree to see things differently... she goes places... I buy stuff....
I feel this way about INVESTING in stocks... sometimes I sell for lower than I paid.... I accept this fact. I can not pick 10 stocks and have all 10 go up and stay there. But I try my best to understand enough about what I'm buying to try to minimize my losses. I can not understand ANYTHING about Bitcoin except that it appears to be a frenzy and that there's enough people out there that are willing to play. It reminds me of the Dot Bomb era... or the house flipping era... Some people made millions... most of the people lost their shirts. I like walking around with my shirt on.  |
Greg I could not agree more. I am with you on every point you made.
By the way thanks for keeping us up to date on the interest rate issues. I watch the 10-year note rate every day. As we moved above 2.0% I was beginning to think we were at the point where rates were going higher. They sure retreated quickly though in the last week.