I drink your milkshake! a metaphor for capitalism

[oldngray]

@Future gots some bitcoin

I heard he was heavily invested in Beanie Babies.

 

[rickyb]

You really think bitcoin is a good value at 5,000? Or is it 3,500 today, wait that was yesterday, now it's 2800.

Buy low sell high? All real estate investors are, in fact rich, if they bought low, and sold high. I like to buy real estate, but I don't care if I buy a little high.

You are like 10 years behind the curve. Mark Haines (CNBC) was talking about pensions 10-15 years ago. Buy the way the teamsters pension were in trouble long before 2008.

Rage against the machine? Mor multimillionaire capitalists. I don't think I've learned anything I didn't already know from your videos.

I have a little secret for you, prince was a capitalist.

prince the musician. funny you mention him. check out what he says about capitalism and hte record industry

 

[rickyb]

Make sure Ricky doesn't get a gun.

i had a license but i didnt renew it...

 

[oldngray]

prince the musician. funny you mention him. check out what he says about capitalism and hte record industry

He says little since he died.

 

[1989]

prince the musician. funny you mention him. check out what he says about capitalism and hte record industry

No, prince was a capitalist who didn't like someone taking his money. He has a reputation for not paying his employees fairly.

 

[1989]

i had a license but i didnt renew it...

Good thing, wait, you could still have a gun.

 

[1989]

I heard he was heavily invested in Beanie Babies.

thats a good place for him to hide his bitcoin.

 

[rickyb]

He says little since he died.

thats usually what happens

 

[DriveInDriveOut]

You really think bitcoin is a good value at 5,000? Or is it 3,500 today, wait that was yesterday, now it's 2800.

I think it is irrisponsibe to be telling people to speculate on bitcoin. Are you buying bitcoin?

Bitcoin is the real deal man, can't avoid that at this point. The question is how long will it take the governments of the world to squash it out of fear.

https://twitter.com/i/web/status/908169891466936320

 

[rickyb]

Good thing, wait, you could still have a gun.

The Economic Cost of the U.S. Opioid Epidemic

America makes up 5% of the world's population, but consumes 80% of opioid medication https://www.bloomberg.com/news/videos/2017-09-18/the-economic-cost-of-the-u-s-opioid-epidemic-video …

ill give you more pension stuff tomorrow, so, you know, you can get a variety of perspectives

 

[1989]

Bitcoin is the real deal man, can't avoid that at this point. The question is how long will it take the governments of the world to squash it out of fear.

https://twitter.com/i/web/status/908169891466936320

I'll admit that I don't understand bitcoin, why such fluctuations in it. The large fluctuations make me think it's being manipulated. What is supporting it? When the dusts settles what will its valuation be? Are you saying that if I buy 5 bit coins at $20k. I'll do ok? It's a no brainer at 5k? The chart looks like a bull stock market. Will
It ever go into bear market mode? Who regulates it?

 

[DriveInDriveOut]

I'll admit that I don't understand bitcoin, why such fluctuations in it. The large fluctuations make me think it's being manipulated. What is supporting it? When the dusts settles what will its valuation be? Are you saying that if I buy 5 bit coins at $20k. I'll do ok? It's a no brainer at 5k? The chart looks like a bull stock market. Will
It ever go into bear market mode? Who regulates it?

There's no central regulatory agency, it regulates itself basically.
It's still extremely volatile imo, but far less so than in the past. On a long enough timeline, the single biggest factor in the price is most likely number of users: metcalfe's law. Asking what the price will be when the dust settles is kind of like asking what the value of the stock market will be when the dust settles.

 

[rickyb]

I'll admit that I don't understand bitcoin, why such fluctuations in it. The large fluctuations make me think it's being manipulated. What is supporting it? When the dusts settles what will its valuation be? Are you saying that if I buy 5 bit coins at $20k. I'll do ok? It's a no brainer at 5k? The chart looks like a bull stock market. Will
It ever go into bear market mode? Who regulates it?

if your right about the future of bitcoin, then your right. and if youre wrong, youre wrong.

But the fact is you completely missed the opportunity to invest in it up until now, and i foolishly did not invest in it when i could have back late 2011 early 2012.

 

[1989]

There's no central regulatory agency, it regulates itself basically.
It's still extremely volatile imo, but far less so than in the past. On a long enough timeline, the single biggest factor in the price is most likely number of users: metcalfe's law. Asking what the price will be when the dust settles is kind of like asking what the value of the stock market will be when the dust settles.

But with a stock, I can see the fundamentals. Balance sheet, profit margins, customer base, govt regulations on the business, etc.

Bitcoin has no transparency.

 

[DriveInDriveOut]

But with a stock, I can see the fundamentals. Balance sheet, profit margins, customer base, govt regulations on the business, etc.

Bitcoin has no transparency.

Well it's a currency, not a company, and the means of bitcoin generation and the blockchain ledger is arguably far more transparent than government run sham currencies.

If transparency is the issue, I'd be curious what currency you find to be transparent?

 

[1989]

if your right about the future of bitcoin, then your right. and if youre wrong, youre wrong.

But the fact is you completely missed the opportunity to invest in it up until now, and i foolishly did not invest in it when i could have back late 2011 early 2012.

No, 2009/10 I was buying in vegas. Along with LVS stock. (I got in late on LVS at $4.75-$9.00)I sold my residence in 2012 and bought a new one in 2012. I bought a couple properties near me after that. I then sold (residence) and bought in 2016. I also sold all but 2 vegas properties in 2016. I used a 1031 exchange buy closer to me. now, with my increased wages and
Rental income, I continue to look.

I don't understand bitcoin enough to buy, early last week it was 5,000 then by Friday 3,500. That kind of volatility will put me in an early grave. Never buy something you don't understand.

 

[1989]

Well it's a currency, not a company, and the means of bitcoin generation and the blockchain ledger is arguably far more transparent than government run sham currencies.

If transparency is the issue, I'd be curious what currency you find to be transparent?

You compared it to the stock market. What is it backed by? Why not start your own currency?

 

[rickyb]

You compared it to the stock market. What is it backed by? Why not start your own currency?

max keiser has max coin haha

 

[DriveInDriveOut]

You compared it to the stock market. What is it backed by? Why not start your own currency?

I was comparing them in regard to your assumption that there is a top limit on value, or that fluctuations in price indicate a lack of legitimacy.

What is the US dollar backed by?
You said transparency was your concern. If that's the issue, and you put a little bit of thought into the US dollar, I think you'd find a whole lot of room for concern.

 

[1989]

I was comparing them in regard to your assumption that there is a top limit on value, or that fluctuations in price indicate a lack of legitimacy.

What is the US dollar backed by?
You said transparency was your concern. If that's the issue, and you put a little bit of thought into the US dollar, I think you'd find a whole lot of room for concern.

The US dollar is only backed by a promise by the government. And if the US dollar fluctuated like bitcoin, the world would be in trouble. Who backs bitcoin? Who says it's worth 5,000 on Tuesday then 4000 on Thursday?