A couple of things:
Gold only has value because we think it does. While silver and platinum are industrial metals and therefore have real intrinsic value, gold does not. It only has a tradition of value.
Currencies "backed and guaranteed by a real country" have no intrinsic value other than the fact that you can later use them as toilet paper, hence the interest in alternatives like gold and BTC. Every currency that ever existed either sank, or is currently sinking, to zero.
Any asset can sink. That's why we diversify. People talk as if the only options are to go all-in or stay out completely. That's just not how investing works.

Other than that, totally agree.

 

Another word of caution,
Don't go around saying you have bitcoin on a public forum.

 

I have zero Bitcoin. My youngest kid bought the Greyscale Bitcoin Trust ETF a few months ago. He let me know about everyday how much he is up.

On a side note related to hacking and viruses. My wife has a different password for everything she has that has a password. Drives me insane when I need to know one. “Oh wait, let me fumble with my phone and look in the password safe and take 20 minutes”

Have one password with multiple combinations of the password parts. Never forget, nobody will ever figure it out. But, nooooooooo she has to have a 100 passwords because somebody is gonna get in.

 

He is paying 60 cents for 1 dollar of bitcoin

 

Actually I wouldn’t recommend r/bitcoin at the moment they are a bit nutty, there are some great bitcoin memes though

 

I bought BITW when it was launched last month and watched it shoot up until I heard it was trading at a premium of over 300%. Crazy.

 

Yes I'm a big fan of BIT COINS

Dig a hole BIT by BIT.
Fill it with a BIT of concrete.
BIT by BIT stack these little basstedd bricks up in an orderly, overlapping arrangement.
Put a few BITS of wood and tile on top for a roof.
You can live in it for a BIT while you're wait in for it to be worth more COINS.

 

Ya and it’s not like I’m recommending people don’t get involved I mean a good return is a good return but you look at some of these crypto funds see the high fees and premium your actually buying the crypto at it kinda tells you who is actually making the money. But I’m no expert, much the opposite really maybe there are good reasons for getting into those things certain they would piss the vogleheads off

 

Indeed, trading companies make money when the market is up, they make money when the market is down. They make money all the time. The more fluctuations the better. Ever wonder why they are always making "recommendations"......

 

Now today is the bitcoin I’m used to enjoy the ride grab your diamond hands

 

You almost got it right!

 

I warned everybody!

$41,000 on Friday down 25% today to $31,000.

 

I warned everybody!

$41,000 on Friday down 25% today to $31,000.

 

Zoom out

 

Not for me, too much volatility on BTC.
I am invested on SP500 and Asia Market more secure

 

I am happy to transact in bitcoin.

 

It crashed from under a penny to 33,000usd

 

Now here is a sad story.
The guy can't remember his password to open up his external hard drive.
He's got his Bitcoin keys worth $220 million stored on that hard drive.
Only two more password attempts left.

https://www.fox5dc.com/news/lost-pa...francisco-programmre-from-millions-in-bitcoin

Lost password separates San Francisco programmer from $220 million in Bitcoin.

SAN FRANCISCO - A San Francisco programmer has two guesses left to figure out a password to his digital wallet that contains $220 million worth of Bitcoin, part of an estimated $140 billion worth of tokens that are lost or inaccessible.

Stefan Thomas is locked out of his small hard drive that contains passwords to access 7,002 Bitcoins, as first reported by the New York Times. The cryptocurrency has seen a recent boom and rallied to a record high of $41,946 last week, up more than 50 percent from the record it set last month.

Bitcoin owners carry private keys that are required for moving or spending purposes. The decentralized, autonomous nature of Bitcoin is part of the appeal, but it also means there is no record of passwords or a company to help owners retrieve them if lost. Thomas said his device allows for 10 guesses and he has already used eight, a brutal reality that's translated to years of regret.

"I hope others can learn from my mistakes," the German-born programmer wrote on Twitter. "Test your backups regularly to make sure they are still working. An ounce of foresight could have prevented a decade of regret."



Thomas isn't the only one with stranded riches. Bitcoin blog Chainalysis estimates nearly 1 in 5 Bitcoins are permanently lost, which is valued at nearly $140 billion.

Thomas was given the 7,002 tokens in 2011 while living in Switzerland. A Bitcoin fan gave it to him for making an animated video called "What is Bitcoin." He told the Times he was initially drawn to the currency because it was not controlled by a country or company, though he now recognizes the perils of being your own bank.

"This whole idea of being your own bank -- let me put it this way: Do you make your own shows?" he said. "The reason we have banks is that we don’t want to deal with all those things banks do."
.

 

I wonder what the market value of this hard drive as is would be.

 

this answers your question:

Well there are 2 "victims" here, someone "paid US$220 mln" for a video instead keeping it himself.