Burn BTC Burn

Uber / Eng
trashBag

Uber Eng

BIO
IlIIIllI
trashBagmore
Dec 9, 2017 89 Comments

I'm tired of seeing threads where masses of uninformed people seek 'investing' advice for crypto currency.

Currencies are not vehicles for investment. Currencies are supposed to be the most liquid and risk free assets and therefore have little to no upside. (You could use various strategies/leverage but unless you're sophisticated enough, you're likely better off gambling)

If you have to ask people on blind for advice you are not informed enough to have an advantage. READ: You're swimming with sharks. GTFO

If you need investing advice. Check out r/personalfinance. Read and really try to understand the methodology. It's simple and straightforward.

DCA some index fund and work on improving your skill set so you can do something you actually love instead of dreaming about some early retirement beach house.

To the lucky ones that struck gold, GRATS! Consider using that money to make the world a better place. Check out Effective Altruism. There's a lot of problems in the world that could use your skills or money.

Please don't fuel any more of this crypto currency nonsense.

Cheers,
trash

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TOP 89 Comments
  • Oracle JnxP12
    Unless you fuel how else would the Ponzi scheme work?
    Dec 9, 2017 1
    • Intuit
      ukkbbfgmEr

      Intuit

      BIO
      Arghhbop
      ukkbbfgmErmore
      Well said
      Dec 9, 2017
  • Gen!x / Eng
    ixptl12

    Gen!x Eng

    PRE
    startups, JPMorgan Chase
    BIO
    ¯\_(ツ)_/¯
    ixptl12more
    BTC is a commodity. Not a currency.
    Dec 9, 2017 19
    • Snapchat pokibowl
      That's why you are hopeless trashbag... True trash. Your driver identity, trust system, trip log all could be on the blockchain so users can trust... That is why you are stuck in your mindset at the bottom of the well.
      Dec 10, 2017
    • Microsoft / Eng ShortBTC
      Lol 😂
      Dec 10, 2017
    • Uber / Eng
      trashBag

      Uber Eng

      BIO
      IlIIIllI
      trashBagmore
      OP
      I think you're sadly mistaken if you think Uber can simply be replaced by blockchain + AV. There's a whole lot more going on than you could imagine.

      You're welcome to try it. GLHF.

      Again, if Snap/BTC doesn't pan out. You can always apply. Bar is a bit higher here though.
      Dec 10, 2017
    • Microsoft / Eng ShortBTC
      Don’t bother OP. You tried.
      Dec 10, 2017
    • Snapchat pokibowl
      Lol good luck trying to sell your options to softbank
      Dec 10, 2017
  • Facebook public
    Tldr; you missed out on the fun and are trying to use logic to mask your jealously? Don't worry even the lucky folks who made 5,000%+ are jealous of those who invested more.
    Dec 9, 2017 10
    • Facebook public
      You can use btc to buy am iPhone today. Newegg.com has been accepting it for years and part of the rise has been based on a rumor Amazon is preparing for it. Speculation is by definition an investment (see your local dictionary and read under speculation: "investment in stocks, property, or other ventures in the hope of gain but with the risk of loss"). Taking mortgage on a house would also be risky but would be calling buying a put or call on a stock. No one who made lots of money is suggesting others follow suit, most of them say wow what luck. You still haven't made a point other than you are trying to "shut a 350 billion dollar market down" and that's cool but if you don't believe in it just continue to not invest. It's that easy.
      Dec 10, 2017
    • Uber / Eng
      trashBag

      Uber Eng

      BIO
      IlIIIllI
      trashBagmore
      OP
      You continue to ignore the fundamental question.

      It's not about CAN you use BTC.
      It's WOULD you use HTC.
      The short answer is no. No one is ever going to use BTC.
      If no one is going to ever actually use BTC why would anyone pay 20k for it?

      My problem with the people claimining otherwise is that they can't answer this question. Their only response is "well I'm rich so there's that"
      Dec 10, 2017
    • Facebook public
      Why would they not? It's easier to use than fiat. It's works across borders. It doesn't rely on a government or intermediary. Blockchain is the obvious future of money, it's why all banks are investing in it so heavily. Yes btc may not be the currency but not sure why you think no one will use it? That's like saying why would anyone use uber, we already have taxis ;)
      Dec 10, 2017
    • Uber / Eng
      trashBag

      Uber Eng

      BIO
      IlIIIllI
      trashBagmore
      OP
      You keep missing the point. I'm going to try one last time.

      BTC today is worth 15k today
      yesterday it was 14k
      a couple days ago it was 20k.

      Depending on when you buy and spend bitcoin, the final price for anything you buy could be wildly different.

      Even if you could.
      Would you use BTC to buy a banana? A phone? A car? A house?

      If you used bitcoin to buy a modest 1m dollar home and bitcoin went up to 40k you would have ended up paying 2million for that house. That's pretty stupid. You'd hold BTC until it stablizes (If ever)

      The volatility of bitcoin is what makes it useless as a currency. It will never gain widespread adoption. Stop deluding yourselves.
      Dec 10, 2017
    • Facebook public
      Well whole foods accepts bitcoin so yes, why not? Yes if course the price fluctuations will flatten out and it will be easier to use for transactions. There are already entire real estate agencies who transact only in btc and eth (bitcoin-realestate.com) it's already being used for more than you think and when crypto overtakes visa in terms of the number of transactions you'll be kicking yourself. You can buy a house, a car, groceries, pay your cell phone bill, plat videos games, order electronics, buy coffee and major companies are rolling out btc payments everday. Here's a quick Google search to help you get a better picture so you don't have to trust me: https://99bitcoins.com/who-accepts-bitcoins-payment-companies-stores-take-bitcoins/
      Dec 10, 2017
  • Google Block$$$
    Not sure why so much hate OP. If you disagree with what is happening in the crypto space, power to you.

    If some people want to give it shot, tossing in a small investment to see what happens, I’m just trying to share what I’ve seen/learned actively digging through this space.

    No need to trash other people’s threads and interests. You are not righteous.
    Dec 9, 2017 4
    • Uber / Eng
      trashBag

      Uber Eng

      BIO
      IlIIIllI
      trashBagmore
      OP
      If people want to speculate. Power to them.

      The vast majority of people can't even tell investing and speculation apart.

      You are not a financial advisor. Don't spread bs. Dont ask your echo chamber to flag people trying to throw warning signs in your threads.

      Here's a template for your future threads

      Disclaimer: I've already made hella money and most of the time I don't know why.
      Here's what I think may be going on. YMMV

      (insert bs)
      Dec 9, 2017
    • Snapchat pokibowl
      I don't think you can tell too haha. You are like an old man yelling at the sky.
      Dec 10, 2017
    • Uber / Eng
      trashBag

      Uber Eng

      BIO
      IlIIIllI
      trashBagmore
      OP
      I'll agree that typically investing and speculation may feel similar at times.

      When it comes to this nonsense, it's all speculation. There's nothing of value to invest in.

      Seriously, how many of you HODL trolls can point out the intrinsic value of BTC?

      I'll admit to feeling old though. But doesn't everyone?
      Dec 10, 2017
    • Snapchat pokibowl
      All the non BTC trolls can use is the word intrinsic lol. Do you even know there intrinsic values of anything in the world... Who gives a shit... Something has value when somebody else is willing to pay you for it. The end....
      Dec 10, 2017
  • Microsoft / Eng 20% raise
    I thought diversity was key. Surely we should diversify our currency holdings across all available options including bitcoin, litecoin, dogecoin, namecoin, etc
    Dec 9, 2017 3
    • Uber / Eng
      trashBag

      Uber Eng

      BIO
      IlIIIllI
      trashBagmore
      OP
      srs, HODLing doge coin. wow. such gains. much amaze.
      Dec 9, 2017
    • Oracle JnxP12
      That’s not diversity.
      Dec 9, 2017
    • Microsoft / Eng 20% raise
      Right. Diversity would be a portfolio of 100s of currencies including collectable cat coins and Zimbabwe dollars
      Dec 9, 2017
  • Amazon Kaosmonk
    Wow what a cool guy OP how do I be as cool as you bro
    Dec 9, 2017 0
  • Microsoft nand
    It's ok OP, life happens.I know you couldn't buy when it was cheap like we did 😂😂
    Dec 9, 2017 4
    • Uber / Eng
      trashBag

      Uber Eng

      BIO
      IlIIIllI
      trashBagmore
      OP
      Also, still very tempted to short BTC. At least someone will have fun on the ride down, eh?
      Dec 10, 2017
    • Google FredyFox
      How much did you buy?
      Dec 10, 2017
    • Snapchat pokibowl
      Please short it... I dare you...
      Dec 10, 2017
    • Microsoft / Eng ShortBTC
      Shorted it at 19k brah. Will continue shorting it.
      Dec 10, 2017
  • Gen!x / Eng
    ixptl12

    Gen!x Eng

    PRE
    startups, JPMorgan Chase
    BIO
    ¯\_(ツ)_/¯
    ixptl12more
    Ugggh, OP is objectively not knowledgeable about this topic. AT ALL

    * OP discovered today that BTC is OFFICIALLY a commodity. What rock have you been living under?

    * “Currencies are not vehicles for investment. “ - DF?! You literally never heard of currency trading? Google George Soros

    * “You're swimming with sharks [on Blind]” - actually no. Your lack of financial knowledge is on par for Blind. You’re a guppie don’t (false) upgrade yourself. The financial sharks are where they always were. Wall Street bars and strip clubs.

    * “DCA some index fund and work on improving your skill set ... instead of dreaming about some early retirement beach house.” - investments are passive activities so they don’t limit you improving your (prodigious) skill sets. Besides skills and FIRE are not mutually exclusive.

    * “Please don't fuel any more of this crypto currency nonsense.” - as @public noted, this reeks of butthurt from missing out. #fomoIsReal

    * “Trash” - yup, on this we agree. This is poorly written trash.
    Dec 9, 2017 11
    • Microsoft / Eng ShortBTC
      🌷
      Dec 10, 2017
    • Uber / Eng
      trashBag

      Uber Eng

      BIO
      IlIIIllI
      trashBagmore
      OP
      Lol. You assume I didn't pass? I should clarify. I PASSED the CFA in 2015.

      Also you all again miss the point.
      Trading currency is not the same as investing in currency.

      Try to "buy" and HODL USD. GL with inflation.
      Dec 10, 2017
    • Gen!x / Eng
      XPbr65

      Gen!x Eng

      PRE
      Bank of America Merrill Lynch, HPE, Northrop Grumman
      BIO
      mehy
      XPbr65more
      You’re a CFA that does not know that Treasury Department regulates assets classifications in the US?!

      I call BS on this.

      I’m calling out your CFA claim. It’s also not 1 exam.
      Dec 10, 2017
    • Uber / Eng
      trashBag

      Uber Eng

      BIO
      IlIIIllI
      trashBagmore
      OP
      You're making way too many assumptions.

      I was simply surprised to learn that BTC is considered a commodity. Especially considering the fact that fundamental idea behind bitcoin is it's usefulness as a currency.

      They have a faq. It screams I'M A VALID CURRENCY. You might want to read it.
      https://bitcoin.org/en/faq#is-bitcoin-really-used-by-people

      I'm even more surprised that people continue to disregard this fact and just accept its classification as a commodity. There are huge implications.

      Excuse me while I call BS on BTC.
      Dec 10, 2017
    • Gen!x / Eng
      XPbr65

      Gen!x Eng

      PRE
      Bank of America Merrill Lynch, HPE, Northrop Grumman
      BIO
      mehy
      XPbr65more
      Wow, Bitcoin has a FAQ?

      Guess what, the IRS doesn’t give a FAQ!
      Dec 11, 2017
  • Snapchat pokibowl
    Oops it crashed upward
    Dec 10, 2017 0
  • Netflix idwO72
    What’s worse: investing in crypto or in uber?
    Dec 12, 2017 5
    • Microsoft nand
      😂
      Dec 12, 2017
    • Uber / Eng
      trashBag

      Uber Eng

      BIO
      IlIIIllI
      trashBagmore
      OP
      Depends on what you're optimizing for. If you want something with actual growth and value. Hands down Uber.

      If you're trying to maximize the probability you'll develop an ulcer and minimize your savings. Pick your coin. I'm HODL on doge
      Dec 13, 2017
    • Netflix idwO72
      I heard Lyft is taking a lot of Uber’s market share though. Is that true?
      Dec 13, 2017
    • Uber / Eng
      trashBag

      Uber Eng

      BIO
      IlIIIllI
      trashBagmore
      OP
      No comment. Join the Dark Side. :)
      Dec 13, 2017
  • Periscope Data gsuH80
    Telling people not be early adopters and then linking to Reddit. This is peak bugman.
    Dec 9, 2017 4
    • Uber / Eng
      trashBag

      Uber Eng

      BIO
      IlIIIllI
      trashBagmore
      OP
      Early adopters of what exactly? Shakeweight? Feels like BTC positive threads are just massive circlejerks.

      Links are great. You should try linking to some insightful articles or discussions around BTC/crypto. At least that will show you've given it some thought.

      here's one I like https://www.quora.com/What-does-Asim-Qureshi-think-about-the-future-of-Bitcoin
      Dec 10, 2017
    • Snapchat pokibowl
      You can clearly see from his answer he has NO CLUE what blockchain is. He equate it to himself saying he print limited Asim dollars. LOL he can't even see the value is not just limitation but the tech ... Feel bad for fools like you just like an uneducated sheep listening to non expert.
      Dec 10, 2017
    • Uber / Eng
      trashBag

      Uber Eng

      BIO
      IlIIIllI
      trashBagmore
      OP
      I think you're missing the point here... You might want to reread. You also seem to think I'm Asim..

      I'm not. You're quickly revealing how blissfully ignorant you are. I feel much better ignoring you moving forwards.

      Watch this. I think you'll understand blockchain a bit better than you currently do.
      https://youtu.be/bBC-nXj3Ng4

      Also thought about linking the white paper. But you don't read too good...
      Dec 10, 2017
    • Snapchat pokibowl
      I am retired now. You are working. I can afford to be ignorant unlike you. Lol
      Dec 10, 2017
  • Best Buy / Ops Moistedl
    "currency isn't meant as an investment vehicle" - tell that to all the traditional forex traders.
    Dec 11, 2017 3
    • Amazon / Eng
      legend

      Amazon Eng

      PRE
      Microsoft
      BIO
      developers developers developers
      legendmore
      And trading is same as investing?
      Dec 11, 2017
    • Best Buy / Ops Moistedl
      Ever heard of a FIF or a PAMM? There are plenty of forex investments.
      Dec 11, 2017
    • Uber / Eng
      trashBag

      Uber Eng

      BIO
      IlIIIllI
      trashBagmore
      OP
      Personally would not go that route.

      At the end of the day. These "investments" are likely highly leveraged themselves and actively trading. There's few other ways to beat the market using only currencies.
      Dec 13, 2017
  • Google FredyFox
    Nice post OP. :)
    Dec 9, 2017 6
    • Intuit
      ukkbbfgmEr

      Intuit

      BIO
      Arghhbop
      ukkbbfgmErmore
      Original poster
      Dec 9, 2017
    • Google FredyFox
      Haha I also learnt about this few weeks back 😁
      Dec 9, 2017
    • Amazon / Eng ᕕ( ᐛ )ᕗ
      Welcome to the internet.
      Dec 9, 2017
    • New billo
      Operator!
      Dec 9, 2017
    • Juniper / Ops shitposter
      That's what she said. 😉
      Dec 10, 2017
  • Oath / Eng L12
    It only dipped for 1 day. It’s back up today. There had been worse dip than this. Relax.
    Dec 10, 2017 2
    • Uber / Eng
      trashBag

      Uber Eng

      BIO
      IlIIIllI
      trashBagmore
      OP
      The fact that it can rise and fall that much should be a red flag. In any other market this would be considered a crash not a dip.
      Dec 10, 2017
    • Periscope Data gsuH80
      You are measuring this by old paradigms. Good reference point but ultimately suffocating.
      Dec 10, 2017
  • Hear hear, for people wanting a number, even if we do treat btc as a commodity/gold, 8500 is a price that makes sense given its money velocity (already a stretch)
    Dec 10, 2017 1
    • Uber / Eng
      trashBag

      Uber Eng

      BIO
      IlIIIllI
      trashBagmore
      OP
      Yeah. Still don't think velocity is a great metric. It's going to drop hard once the bubble bursts.
      Dec 10, 2017

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