Message from @Exilarch
Discord ID: 396049251903209472
I MOCK AND THINK. I THINK SARCASTICALLY.
LET'S SEE. ECOMMERCE FOR SOYCOIN DROPPED YEAR-OVER-YEAR AND CONTINUES TO BE ON THE DECLINE.
titus - your dude sold at 17, but realized 12k of it. IF he invested when it was worth something measured in the hundreds, he'd still have made a fat return
volatility basically ceases to matter on a long enough timeline
@Exilarch I SOUND CRITICAL. IN REALITY, I LOVE BITCOIN BECAUSE IT HAS ENABLED AN ENTIRELY NEW CLASS OF IDIOT TO EXPLOIT.
exactly
there was no way to predict the bubble when it was in the hundreds
there is no way to predict it
so? how do you proceed when you don't know the likely future?
there must be a way to do so
given that most of hte liquid currency is in it due to fucking drugs
@Death Strike's Bat THIS IS TRUE. HOWEVER, AS AN EXAMPLE, YOU CAN BE SOME NOBODY PENNY STOCK, ANNOUNCE YOU'RE DOING AN "ICO" AND SEE YOUR STOCK 240%+ OVERNIGHT.
with traceable transactions
your chance of a cash out is pretty fucking bad.
if you got in on the ground floor and now it's here, even losing 50% value between sell and actual cash received is still a huge price increase
so...
there's no way to know to get in on the ground floor and you wouldn't be able to cash out a large amount now
there are websites where you can use bitcoin to directly buy stock portfolios
1portfolio.com I believe
you can literally just straight swap your btc for stocks and bonds
or, having made a gorillion percent return on your investment already, just set up a trust with stuff that pays you dividends and live off that forever
...exactly
this is what I mean when I say you are morally condemning it instead of strategizing how to succeed with it
most exchanges limit the rate at which you can cash out to something like 20k a month and you must cash out below the federal limit AND the limits in the countries where the exchanges are
oh no, only 20k a month
and having converted to that bitcoin and with financial records not being destroyed, you're best bet is not to invest at all
@Mother wait? you dont support bitcoin? but i know a bunch of lolbertarians who invested in it back in like 2014 and now have like literally thousands of dollars to buy hooch with.
people are diligent and people are smart. most people cannot cheat on on their taxes for years in a row as they will eventually catch you
who said anything about tax evasion? that is a non sequitur
you are now beginning to exhibit kettle logic
it is tax evasion as bitcoing transactions are taxable
it is not kettle logic
@Jossi TRUE. PEOPLE MADE MONEY BUT CAN THEY EXPLAIN HOW THEY MADE IT? IS IT A THESIS-DRIVEN INVESTMENT?
HOW DO YOU VALUE IT? IT HAS NO INTEREST RATE.
especially given that most bitcoins have been laundered
dont ask me qustions about money goddamnit all i know about money is what thomas sowell told me
basic economics ftw
LOL