Originally posted by dmac_bolt
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Off Season: Financial Discussion
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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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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...
Something as global and immutable as bitcoin is a very resilient store of value and potentially a very strong currency.
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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.
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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.
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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...“Less is more? NO NO NO - MORE is MORE!”
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Originally posted by like54ninjas View PostBack to topic people.
Start a crypto currency thread
See we are on topic, so don't get so worked up about it.
:More Q Please:
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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.
:More Q Please:
I could always start ripping apart religions/fallacy of gods/etc in all threads but I refrain.My 2021 Adopt-A-Bolt List
MikeDub
K9
Nasir
Tillery
Parham
Reed
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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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