Cryptocurrency

Doomsday Prepper Forums

Help Support Doomsday Prepper Forums:

This site may earn a commission from merchant affiliate links, including eBay, Amazon, and others.
Like many investments, those that got in early did well, but jumping in late an be risky. My son bought one of the other crypto currencies recently. When it increased by 500.00 he sold the profit portion, banking it, and kept the original amount in it. Last I heard was the original amount, I believe was 100.00, was down by about half. There is risk in most investments, but I kind of think the crypto currencies are a little to intangible for my tastes.
 
This article, while written by a cryptocurrency advocate, is a great example of why I have deep misgivings over cryptocurrencies. "Going down the rabbit hole" is how he describes the process of understanding what Bitcoin is. Yep, perfect way of describing it. :rolleyes:

There Is No ‘Bitcoin’: What the SEC Doesn’t Get About Cryptocurrency
https://www.coindesk.com/there-is-no-bitcoin-what-the-sec-doesnt-get-about-cryptocurrency/amp

Back in 90s during the tech bust, people still had to pay there taxes even after losing all their stock, people didn't get their dividends but still had to pay taxes on it for stocks that no longer existed or something to that effect, with the SEC trying to regulate the so-called bitcoin why am I seeing something similar happening? or am I totally off base here...
 
I am not a proponent of cyber currencies or precision metal in regards to a SHTF event. I know many believe that precious metal will become the hard currency after a SHTF situation but I think that will be a long time in happening, as in decades. I will place my investment monies in hard products that people are going to need or want. Being the only source of ammo, will be priceless (think of a multiple reloading setups, not just one press). Bootleg liquor, fresh food, honey and you get the concept. What would you pay for ammo when you get down to your last couple of rounds? No candy but honey for that sweet tooth, how much would it be worth? Even during the depression people still bought booze. Currencies of all types are manipulated by the big shots / power brokers. Common items of today will be worth a fortune (barter fortune) in the future. JM2C
 
Yeah, it’s been a tough week for most investments. Most stocks have lost all their 2018 gains recently. One thing to keep in mind though. If your rich enough to have money to invest then that means you allready have enough to eat and all your necessities are covered. That’s allready better than 90% of the world. It dosent mean that it dosent hurt to see your savings get hit, but just keep it in perspective.
 
I like cash on hand for the first few moments when idiots will still take cash and the greedy just double or triple the prices. I still get the goods / supplies and they end up with worthless paper. :D
 
It's almost all worthless paper now.

Unless you cash out, sell that other other property, sell that painting by Van Gogh, and realize some profits, you have nothing.

Stock buybacks? It's crazy. Borrow at zero interest, buy your own stock, the price goes up, add that to your "black" column in the ledger. What happened, really? Nothing more was produced, nothing happened.

ETF's, algos, crypto currency, all just notional. You can't eat it, you can't plant it, you can't live in it. It won't make someone love you.

I do own some stocks. It's a small, meager portfolio, whatever is safest, which means the least profitable. I'm good with that.

I have no use for anything else. I'd mess it up.
 
Well, at least now we have identified a genuine market fundamental for cryptocurrencies - the cost of mining. Bitcoin miners are losing their shirts right now. 80% of Bitcoin mining is done by Chinese Bitcoin mine farms, and even with very cheap rent and electricity, they are losing money now. Many can't pay their rent.
 
Even the good old American dollar has taken a hit. Anyone notice how much the price of food in restaurants and grocery stores have gone up? So if you have a big safe full of cash that you worked hard for your whole life, it becomes worth less and less due to inflation. There is no completely safe form of investment. You do your best to diversify whatever savings you manage to scrape together, and when or if the economy takes a dive just remember this. If you have water, food, shelter and security then your doing better than most in the world. Nothing is worth throwing yourself out a window for (referring to when the stock market collapsed at the beginning of the Great Depression).
 
And yet...

I bought gas yesterday for $1.999 a gallon. :)

0mLj0g3.png
 
As folks demand a "Living Wage", the cost of any labor involved (restaurants, etc) establishment is going to rise quickly. Gas prices are going down, because the labor rate are already high and the base (OIL) for the fuel is dropping. Capitalist system in action, supply vs. demand vs. labor rates.
 
I paid 2.08 today and was pleased. I haven’t seen less than 2.00 yet and honestly didn’t ever think I would again.
 
Bitcoin shouldn’t be bought at all. Just get the miner on a Windows laptop and leave it running from time to time. You can sort of casually daytrade with very small amounts.
 

Latest posts

Back
Top