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  • Off Season: Financial Discussion

    Originally posted by dmac_bolt View Post

    In todays bond market, even junk bonds don't tend to pay over 11%-13%. 20% is riverboat gambling you'll get anything. I hear you could get your face ripped off, even. 20% isn't worth it to me, but then again - i'm a looker.
    If you want real long term gains go buy some bitcoin. Sure it's half of it's peak but that peak will get blown by in less time than you think. Bitcoin is picking up a lot of traction and hasn't died off even after itís last bubble burst. It's the best store of value as it's supply is controlled and it's demand is growing.

    The traditional investment market is meant for the rich to get richer. Bitcoin is an opportunity for everyone to get in on Something huge on the ground floor.
    Last edited by Budsman; 06-12-2019, 09:00 PM.

  • #2
    Originally posted by Budsman View Post

    If you want real long term gains go buy some bitcoin. Sure it's half of it's peak but that peak will get blown by in less time than you think. Bitcoin is picking up a lot of traction and hasn't died off even after itís last bubble burst. It's the best store of value as it's supply is controlled and it's demand is growing.

    The traditional investment market is meant for the rich to get richer. Bitcoin is an opportunity for everyone to get in on Something huge on the ground floor.
    The biggest problem with cryptocurrencies is that they are not tangible assets. All they are is just a series of changing digits on someone's computer screen. My father used to work for a stock brokerage firm. He laughed as he told me one day that some company had bought his brokerage firm. He said, "why in the world would anyone want to buy a brokerage firm?" All it is is a group of people in a rented office, with leased telephones, a few desks and chairs, and NO ASSETS AT ALL!!!" He said, at the very least, if you invest in an oil company or a mining company, even if the firm goes belly up, at least you have some assets to show for it. My advice is to find some undervalued real estate, whether bare land, improved lot, or fixer home, and buy that. At the very least, you can turn it into a rental, and have a lot of tax write-offs at a time when a lot of traditional tax breaks are disappearing.

    Sorry, Fleet, I guess we jacked this thread also...

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    • #3
      Originally posted by Topcat View Post

      The biggest problem with cryptocurrencies is that they are not tangible assets. All they are is just a series of changing digits on someone's computer screen. My father used to work for a stock brokerage firm. He laughed as he told me one day that some company had bought his brokerage firm. He said, "why in the world would anyone want to buy a brokerage firm?" All it is is a group of people in a rented office, with leased telephones, a few desks and chairs, and NO ASSETS AT ALL!!!" He said, at the very least, if you invest in an oil company or a mining company, even if the firm goes belly up, at least you have some assets to show for it. My advice is to find some undervalued real estate, whether bare land, improved lot, or fixer home, and buy that. At the very least, you can turn it into a rental, and have a lot of tax write-offs at a time when a lot of traditional tax breaks are disappearing.

      Sorry, Fleet, I guess we jacked this thread also...
      My bank account value is also intangible, along with my 401k, stock options etc. Sure a house is nice and you should invest in real estate but unless you think the apocalypse is coming worrying about tangible or intangible is folly. Even in the event of an economic collapse bitcoin would be a better store of value than a house since its global in its nature and its extremely divisible. It's why highly skilled people in Venezuela who can't make ends meet as professors and other high paying jobs (due to massive inflation) are turning to mining bitcoin and trading into bitcoin to pay bills and store their value.

      Something as global and immutable as bitcoin is a very resilient store of value and potentially a very strong currency.

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      • #4
        Originally posted by Budsman View Post

        My bank account value is also intangible, along with my 401k, stock options etc. Sure a house is nice and you should invest in real estate but unless you think the apocalypse is coming worrying about tangible or intangible is folly. Even in the event of an economic collapse bitcoin would be a better store of value than a house since its global in its nature and its extremely divisible. It's why highly skilled people in Venezuela who can't make ends meet as professors and other high paying jobs (due to massive inflation) are turning to mining bitcoin and trading into bitcoin to pay bills and store their value.

        Something as global and immutable as bitcoin is a very resilient store of value and potentially a very strong currency.
        I found another cryptocurency today called Coinbits. I dont have the stones to step into Cryptos but that is from some 20 year old kid that got rich from Bitcoin. Check it out and see if you think it is any good to invest in....though i dont think its is trading.

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        • #5
          Originally posted by Boltjolt View Post

          I found another cryptocurency today called Coinbits. I dont have the stones to step into Cryptos but that is from some 20 year old kid that got rich from Bitcoin. Check it out and see if you think it is any good to invest in....though i dont think its is trading.
          I'm very very picky when it comes to crypto's. If youre Not sure or don't want to risk too much just invest a small amount of your disposable income to bitcoin. Bitcoin is the big boy in crypto and if you want exposure to crypto and don't like the risk of the alt coins then Bitcoin is for you. I haven't looked into coinbits but I'll be extremely skeptical until it shows me something.

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          • #6
            Back to topic people.

            Start a crypto currency thread
            2019 Adopt - A - Bolt

            KYZIR WHITE

            CORTEZ BROUGHTON

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            • #7
              Originally posted by Topcat View Post

              The biggest problem with cryptocurrencies is that they are not tangible assets. All they are is just a series of changing digits on someone's computer screen. My father used to work for a stock brokerage firm. He laughed as he told me one day that some company had bought his brokerage firm. He said, "why in the world would anyone want to buy a brokerage firm?" All it is is a group of people in a rented office, with leased telephones, a few desks and chairs, and NO ASSETS AT ALL!!!" He said, at the very least, if you invest in an oil company or a mining company, even if the firm goes belly up, at least you have some assets to show for it. My advice is to find some undervalued real estate, whether bare land, improved lot, or fixer home, and buy that. At the very least, you can turn it into a rental, and have a lot of tax write-offs at a time when a lot of traditional tax breaks are disappearing.

              Sorry, Fleet, I guess we jacked this thread also...
              i've been in two companies where strategic geniuses decided to acquire a crappy company in order to "buy" their customer list. Great strategic plans, revenue thru the roof, instant growth. Due diligence was thrown aside, because the "growth" (cough) would absorb any unforseen added costs. they both ended up with a really crappy money-sucking acquisition and none of the customers, who just moved on because if they had wanted to be with the acquiring company, they would have already been there.

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              • #8
                Originally posted by like54ninjas View Post
                Back to topic people.

                Start a crypto currency thread
                I think crypto currency and investment discussions are on topic if you take the nature of football players contracts and figure that they are just essentially investments and some are higher risk higher upside (bitcoin) and some are lower risk lower reward (real estate). If your think about it we could have been discussing Derwin James as bitcoin and Joey bosa as a solid real-estate investment, add in Mike McCoy as a bad brokerage firm aquisition that blew up in the Chargers face.

                See we are on topic, so don't get so worked up about it.

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                • #9
                  Originally posted by Budsman View Post

                  I think crypto currency and investment discussions are on topic if you take the nature of football players contracts and figure that they are just essentially investments and some are higher risk higher upside (bitcoin) and some are lower risk lower reward (real estate). If your think about it we could have been discussing Derwin James as bitcoin and Joey bosa as a solid real-estate investment, add in Mike McCoy as a bad brokerage firm aquisition that blew up in the Chargers face.

                  See we are on topic, so don't get so worked up about it.
                  Talk Nasir Adderley in this thread and create this Bit coin shit in an independent thread in here or more appropriately in the End Zone Lounge.
                  I could always start ripping apart religions/fallacy of gods/etc in all threads but I refrain.
                  2019 Adopt - A - Bolt

                  KYZIR WHITE

                  CORTEZ BROUGHTON

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                  • #10
                    9F98E379-E612-41D1-B5D0-DEDC7D49C797.jpeg

                    Is bitcoin as polarizing as talking religion? Apples to pizza there bud. Geese it's the off-season and the adderly injury is old and has been talked to death. Take it easy buddy , save your anger for the real issues not some message board policing.

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                    • #11
                      54 is correct. Way off topic, off season or not.

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                      • #12
                        Yeah you can be correct and not be a dick about it. Sure back to the crickets around this thread. If I had too much time on my hands like some folks I would go around policing off-season threads for off topic conversations. But I have a real life to worry about so good luck with the off-season Iím out, be back for the regular season.
                        Last edited by Budsman; 06-13-2019, 03:56 PM.

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