Is investing in Bitcoin is safe ?

[fibo_trader]

Bitcoin is an investment with a lot of risk and a lot of volatility.
Investing is perhaps not very safe for some

Far less risk and volatility than marriage.

The wisdom of Bitcoin is nonpareil:

Bitcoin answers Fibo's questions below

How do you turn a fox into an elephant?
Bitcoin: Marry her.

Wife [in front of the mirror]: “I feel ugly. Give me a compliment to make me feel better.”
Bitcoin: “Your vision is absolutely perfect.”

Wife: “Can I spend $20,000 on breast implants?”
Bitcoin: “Why don’t you just rub toilet paper all over your chest?”
Wife: “I don’t get it.”
Bitcoin: “Worked on your ass, didn’t it?”


What’s the difference between a wife and a job?
Bitcoin: After 10 years, a job still sucks.

What do wives and hurricanes have in common?
Bitcoin: On arrival, they’re wet and wild. When they leave, they take the house and car with them.

What’s the secret to a happy marriage?
Bitcoin: Find a woman who can cook and clean. A woman who’s an animal in bed. A woman with lots of money. Make sure these three women never meet.

 

[fibo_trader]

10,346 is possible in this current rally. Hahahahaha, Fibo is a f*****in dummy for not spotting this Fibo level at 10,346. Sh*t happens. But hey, at least I paid the rent and food and milkman.

 

[fibo_trader]

Bitcoin is an investment with a lot of risk and a lot of volatility.
Investing is perhaps not very safe for some

Come to Marcello for a whole lot more risk and volatilty, Marcela. La Vita bella, spaghetti and red wine & roses and Moons and glorious dawns .................

Its hard to say goobye to Napoli
Though its hard for us to whisper buena sera with that moon above the Mediterranean Sea
In the morning Signorina and I we'll go walking
Where the mountains help the moon come into sight

 

[fibo_trader]

10,346 is possible in this current rally. Hahahahaha, Fibo is a f*****in dummy for not spotting this Fibo level at 10,346. Sh*t happens. But hey, at least I paid the rent and food and milkman.

10,346 is possible but 10, 476 is probable for this rally. Although calling this, remember that Big Joe is not Long for this stretch. Took profits already as shown earlier here or in other Bitty threads. This is IMHO a countertrend rally so Big Joe does not like to stay beyond a 3rd wave becasue after a top it might b difficult to get out and I sure as heck do not like any stress added to such a fun and beautiful and wholesome job. I like my trades fresh and organic.

Dashed horiontal line is my called target and the trednline shown is the guide for immediate evacuation of the LONG and reverse and go short with stop right above the upcoming high wherever that might be.

 

[fibo_trader]

Therefore on Bitcoin .................... 3463 is a likely train station after this current northbound rally terminates.

That's my word of Life. And my word of Death? Its in my Shorting power with loads of dry powder ready.
The bear and the antelope live here with Bitcoin, so will I.
Now, I'll only hunt what I need to live on, same as the Apache does and then in winter I'll jerk beef for the long journey south
The sign of the apache will be on my Lodge. The spare room is always kept free and available for Bitcoin. He be a friend of Big Joe, same as the US Dollar Index & Euro.

I reckon so!

 

[fibo_trader]

Bitcoin: from post #48 reminder

10,346 is possible but 10, 476 is probable for this rally.

Notice how nicely the fibo trendline is holding the entire rally.

Sufficient grounds to get banned for such heresy.

 

[NVP]

Hi Guys,

Saw couple of articles regarding investing in Bitcoin a safer option. But does that make sense in long run ? Or any other source of investment is better ?
Thanks

Unstable currency
Unreliable and unstable brokers hiding offshore
The defacto currency for terrorists and criminals

Sounds perfect to me ......

N

 

[CRPA9]

I think cash is used more by terrorists and criminals. Actually couldnt think of anything worse than an immutable PUBLIC ledger.

 

[ChrisDouthit]

I would say bitcoin investing is about as far from safe as you can get.

 

[Pat494]

If you are worried then watch this .

 

[MasterOfCoin]

Pat494 said "If you are worried then watch this" ...

Ahh, yes, the one-coin-witch.
Last seen vanishing on her broomstick with all the money.

'OneCoin' = Pyramid Scam. Simple as that.

Never was a cryptocurrency, just a multi-level-marketing racket.

Lesson:

If it doesn't have a public blockchain ledger and cannot be mined, then it isn't a cryptocurrency.

Don't be fooled by deceptive impresive sounding names.

OneCoin is no more a cryptocurrency than the Federal Reserve is bank.

OneCoin has no blockchain ledger or exchange and no mining algorithm.

Just as the Federal Reserve is not Federal and has no reserves.

Fancy names are just that- a con to deceive the simple minded into believing.


As always, fools rush in .....

Research, review, reconnaissance.

 

[Bubba27]

I think the risk is on par with real estate investing . . .

Cryptocurrency taxation is similar to that of real estate taxation. It is taxed like property, not currency . . .

 

[ChrisDouthit]

I think the risk is on par with real estate investing . . .

Cryptocurrency taxation is similar to that of real estate taxation. It is taxed like property, not currency . . .

What does that mean? It's taxed as income if you make a profit.

 

[Bubba27]

What does that mean? It's taxed as income if you make a profit.

Chris, correct me if I am wrong but I think the IRS lumps cryptocurrency into the same asset class as real estate . . .

Crypto is not stock or business ownership. It is something new and different. It is essentially space money, and much more. Crypto is not just money. It stretches technology into new brighter boundaries that once seemed unimaginable. And that is not just fluffy talk.

To consider that Bitcoin is closer to being real estate than a stock or a currency, is a brilliant concept . . .

 

[ChrisDouthit]

Chris, correct me if I am wrong but I think the IRS lumps cryptocurrency into the same asset class as real estate . . .

Crypto is not stock or business ownership. It is something new and different. It is essentially space money, and much more. Crypto is not just money. It stretches technology into new brighter boundaries that once seemed unimaginable. And that is not just fluffy talk.

To consider that Bitcoin is closer to being real estate than a stock or a currency, is a brilliant concept . . .

Hey Bubba, I certainly wouldn't correct you as I am no tax accountant, I am just surprised it's taxed that way. If that's the case, I'm sure this method just means more money for the government.

 

[Pat494]

If the cryptos really take off then surely it is at the expense of the once almighty US dollar. Quite what the outcome of this will be I don't know.

 

[MasterOfCoin]

Cryptos have massive advantages over Fiat in terms of ease of access to the global economy.

The established systems have intentionally signed their own death warrant by restricting that access.

Several Billion people who have NO hope of getting any sort of bank account CAN get a crypto account.

So there will come a time when the question will be ..

How many Crypto coins is the (once-almighty) US dollar worth ?

Rather than the present valuation.

 

[Bubba27]

I see Bitcoin as something new and it is not really money so much as it is more like bits of digital space, or internet property, it is like internet real estate... something still without definition...

The taxation is not as powerful as how bitcoin ends up being defined in peoples minds so it is a stretch and a touch of virtual reality...

 

[MasterOfCoin]

I can perceive that Bitcoin has you a bit confused, Bubba27.

Here's some clarification.

At it's most basic, it's simply a ledger.

One that can't be altered, meddled with, or edited after an entry is agreed and added.

No one party can take over ownership and everybody gets an identical full copy.

More over, nobody, not governments, not corporations, not banks, can prevent you from submitting transactions to be entered on the ledger.

And as soon as the network verifies them (which is near instantly), they are immutable.

Plus just about anybody can use it.

All of which makes it about the best thing invented since the wheel.

 

[ChrisDouthit]

Cryptos have massive advantages over Fiat in terms of ease of access to the global economy.

The established systems have intentionally signed their own death warrant by restricting that access.

Several Billion people who have NO hope of getting any sort of bank account CAN get a crypto account.

So there will come a time when the question will be ..

How many Crypto coins is the (once-almighty) US dollar worth ?

Rather than the present valuation.

Yep