Bitcoin...I'm going to be a millionaire in no time!

I called him a few days ago apologizing cuz i kinda kept saying its prolly goign to go bust. anyways he sold around 5k to 10k. his holdings i think were about $450k post sale. Had he kept it, we think he’d be worth between 2m to 3m.
his response was its allright. i rode that ■■■■ to 20k, and rolled with it to 3k. when it was at the bottom i realized i cant really hold on to this. its too volatile. i like ur investing style with assets that produce cash. makes more sense.

I’m dumbfounded that someone who passed the CFA exams seems unable or unwilling avoid getting ripped off by buying ‘cryptos.’

WDM

im not too surprised. its the same argument with gold. its just gold is tangible and has been around for about 6k years more. personally i get that fiat money is crap. but so are unproductive assets with a sort of fixed supply.

I’m sorry, but no, it’s not. That’s a flawed argument made by proponents of the crypto-currencies.
Unlike an intangible thing like bitcoin, which can only be used as an alternative currency, gold has value beyond just being used as a means of exchanging goods. Gold is used in making consumer goods. Its use is not limited to jewelry: it’s a very important material in making electronics due to its properties.

Straterra: GOLD - NOT JUST FOR JEWELLERY

but it is nowehere close to the price of gold. the main purpose of gold is to be mined from the ground, melted, then buried in some vault to be protected. its a store of value for the currency.

The point is that it’s also used for making durable consumer and industrial goods, unlike bitcoin which can only be used as a currency. Even if, for some reason, nobody wanted to trade gold, it would still have its use, while if nobody wanted bitcoin, it would be completely worthless.

transactions have no value? what is visa and mastercard? they’re worth like 500b.
gold would have a sliver of value valued as an raw material. you gotta remember at today’s prices there is about 11 trillion gold. even as a raw material. 80% of the time its used as jewelry.

where did i say that transactions have no value?

Who could ever give a crap about CFA when you have $100 millie’s in the bank? If you pay me $100m right now - I’ll write Marg Franklin a letter that says “F you & YO crew”.

You know where you can shove your dimwitted comments, Doofus.

Why you trippin?

StrategyGuy is the new boss. Respect.

He sounds awful lot like a Boomer

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Doesn’t matter. I imagine he’s ripped to shreds and puts up 405 (for reps) on the bench. He will put any slouchy winter cap-wearing, avocado toast-eating, beard oil-applying whiny millennial who hasn’t invested through a non-COVID downturn in their place with a single post.

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I edited my response to ask a question… what part of this “whiny millennial” do you think can’t bench 405?

Okay, I can’t bench 405, but let me tell you a secret, I’m friggen shredded brah, and I’m dying to post my ab selfies on this forum if you just ask…

#checkmate

Look, don’t blame me for stating facts. Don’t shoot the messenger. As a matter of fact, you may not even realize it, but I may be a whiny millennial myself who (through good genetics, looks, strength, intelligence and superior common sense) has the gravitas of someone decades older…don’t hate me for that! I do, however, bench 405 for reps. And 495 in the squat rack. Full sets, @$$ to the ground or I don’t count them. The sheer exertion forces burps out of me that, oddly enough, smell like avocado toast and small-batch craft beer. Believe me, it’s not easy showing up every day, looking this good and feeling this good. But enough about me, we were talking about how you received an unceremonious public dressing down by StrategyGuy, and how funny that was.

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No cap. CEO pretty buff. Ace would be proud.

U mirin his glutes or wut

Hahaha I legit laughed my butt off at that. You have some good wit. Speaking of dressing downs, it reminds me of this one time I used to strip. or should I say almost did. That’s the plus of being seriously stacked. Everyone wants you to dangle your private bits around in the air at their company Christmas party. last Christmas a gentleman (he was gay as hell) said that for $25,000.00 he was trying to hire a reindeer to dance on top of a table in costume. I was shocked when he was offering me that much money for a simple job, I thought, well hell yeah I’ll do it. then he said “make sure the reindeer knows he’s going to be milked”… ■■■■■■■ almost threw up. said uh uh, hell no. and hung up the phone. that was the last time I used my body shots on craigslist to get jobs.

$25k could buy a lot of Bitcoin though…