When the tide goes out you find out who was swimming without a bathing suit…Warren Buffet
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Apparently, you can mine the stuff by setting up some computers with high end graphics cards. I have plenty of experience building my own computers but what I don’t understand is how to set up the the software side to mine the bitcoin and then were do you sell it. Anyway, mining bitcoin seems safer than buying shares but of course high end graphics cards go for 1,400+ and you would need a bunch of them.
I still don’t understand how someone in that situation could buy 5 homes and a condo. There is a debt to income ratio the bank uses before approving you for a loan so how would they get passed that?
As I understand it, bitcoin is an alternative to dollars, pound, euros, Yen etc. it is just another currency (as I understand it). Just outside the control of central banks and governments.
You can’t “mine” for dollars. How is it that by having a high power computer you can “mine” bitcoins. It fundamentally doesn’t make sense to me.
Not many businesses accept digital currency for payment. To spend bitcoin, you either have to limit yourself to businesses and services accepting bitcoin or convert it to another currency. I suspect that the celebrities who are hawking crypto.com, etc., are getting paid in dollars, not bitcoin.
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Yeah to me its only worth something as long as someone else is willing to pay that price. Which I guess is the definition of any asset. But other assets have some intrinsic backing or in the case of currency the full faith and credit of the sovereign country.
What backs bitcoin?
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Crickets…
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I do in the most basic of ways. Mining specifically refers to unwinding and cross checking a portion of the Blockchain which is the more interesting thing behind crypto. So a system would unwind,check, and solve the Blockchain portion and be rewarded with the currency being mined.
But cryptocurrency overall it’s a lot closer to tulips than actual currency
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So bitcoin mining is fixing “something” on the blockchain and in return you get paid for your service?
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These dudes my go out of business if it continues to drop like this.
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The way I understand it is your computer is solving a puzzle that once solved allows one more bitcoin to become available in the market and for doing so you get a portion of what it’s worth.
Crypto is limited and can’t be inflated, unlike the $ which they just print more
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I have heard it described that way as well. Which sounds just bat sheet crazy to me. You are solving a “puzzle” then there are more bitcoins.
I am sorry it makes no sense to me.
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Yup. I’ve also heard that there is a limited amount available to be mined so once all the bitcoins are available there will be no more mining. Although I don’t know that part for a fact.
I personally would not mess with crypto it’s just to “crypto”. To be honest I’ve never been asked if I accept payment in crypto and if someone ever asks I will decline. So, who uses the currency? I think it exists on hype. Kinda like GameStop, too the moon people keep holding, paper hands vs diamond hands anyway I did gamble and made out ok with GameStop 
anyone with half a brain knew that it was all about timing your exit with that one.
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Yeah I totally agree.
No, the government doesn’t just print money.
No. The term “printing money” often refers to a situation in which the central bank is effectively financing the deficit of the federal government on a permanent basis by issuing large amounts of currency. This situation does not exist in the United States. Global demand for Treasury securities has remained strong, and the Treasury has been able to finance large deficits without difficulty. In addition, U.S. currency has expanded at only a moderate pace in recent years, and the Federal Reserve has indicated that it will return its securities holdings to a more normal level over time, as the economy recovers and the current monetary accommodation is unwound.
Banks are willing to risk giving out loans when there is a guaranteed security. In this case, the property itself.
It didn’t give people that were gainfully employed $, it didn’t not make people pay back their loans? What do you call that