OT: 11 Bitcoin ETFs Approved by SEC.
- Thread starter Ward Jr
- Start date
By his own admission, Buffett has missed some excellent opportunities by passing up sectors he could not understand. Microsoft is the prime example. But look how passing on it and other mystifying (to him) things hasn't killed him.
The tangibility of an asset is important to me. I'm not ashamed to admit that I do not understand bitcoin and so have not waded into that market.
I'm closer to the end than the beginning, but not buying bitcoin is probably not going to be what finally kills me, and I'll leave an appreciable legacy.
Things like coveted paintings and baseball cards have way more conferred (conveyed) value than intrinsic value. But they are also tangible, which is where their value begins in my estimation.
The tangibility of an asset is important to me. I'm not ashamed to admit that I do not understand bitcoin and so have not waded into that market.
I'm closer to the end than the beginning, but not buying bitcoin is probably not going to be what finally kills me, and I'll leave an appreciable legacy.
Things like coveted paintings and baseball cards have way more conferred (conveyed) value than intrinsic value. But they are also tangible, which is where their value begins in my estimation.
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My daughter attended a Kennedy fundraiser in California over the weekend where Kennedy hammered that very point. I agree with him on both points. I have long thought the Ukraine money has ended up in the pockets of corrupt politicians—including numerous ones in the U.S. BTW, I was in California last month and I was stunned how California Libs were all excited about Kennedy.
This just makes no sense, because how do you buy bitcoin if the US economy collapses?
It's just like gold. You buy it as a hedge against inflation and government overspending. Though the US economy probably isn't going to collapse but you could see more bank failures and definitely will see much more money printing which is a disaster for purchasing power.
If Trump gets back into office we could turn the situation around with not only innovation like AI and crypto but also drilling oil here. The globalist crap is just a false flag to enrich special interest groups. If there was ever a time to be pro-American and support pro-American policy, it's exactly right now.
It's wrong to call this an asset. It has no intrinsic value. It's only on paper. There is absolutely nothing backing it up. That is why I invest in real estate. My last investment I more than doubled my money in 5 years and there is little risk involved.
You need to learn more about it.
+ Bitcoin Mining (Proof of Work)
+ Scarcity
+ Security
+ Decentralization
+ Network Effects
Real Estate has been as great investment over recent years because we were holding down interest rates while printing money. In addition, companies like Blackrock starting buying up residential real estate and land because of the aforementioned. Nonetheless, BTC has done far better than real estate over a similar time period.
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Exactly but the people fall for the "poor Ukrainian people" crap.
Another $175 each that we don't have that we just gave to the globalists.
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As I said, there is nothing of value behind it.
Also, if interest rate are a factor in your real estate investing, you don't know what you are doing and have no business in that market. There are lots of investors out there flush with cash looking to buy. Every project I have sold has been to a cash buyer - no debt.
Ha. You're not saying much. I guess it's easier to criticize than learn and form valid opinions. It's currently over $47K for one BTC and rising. All the big players in are. It's fundamentally far better currency than the dollar. Can't be manipulated, scarcity, etc.
The core Bitcoin developers are at Stanford University. Why do you believe the prestigious University would waste over a decade on a folly?
With regard to real estate, I was explaining the steep appreciation aspects over the last 15 years. It's been artificially run up because of those factors. Same would be true of SPY though.
The dollar has the full faith and credit of the US Government behind it which is the wealthiest country in the world. What does Bitcoin have behind it other than promises and hot air?.........Nothing of value! It is somewhat similar to trading on the futures market.
U.S. Shatters Oil Production Records in 2023
- Alongside oil, the U.S. is also set a new production record for natural gas this year.
- The previous record was in 2019.
U.S. Shatters Oil Production Records in 2023 | OilPrice.com
The U.S. has set a new annual record for oil production in 2023, surpassing the previous record set in 2019.
oilprice.com
I don't understand bitcoin either. And I used to regulate the sales of stocks, bonds, mutual funds, etc PRIOR to bitcoin coming on the scene. I suppose if I tried I could understand it. What I do understand are historical patterns and am well into the green with my investments in that sector. Now I don't invest a lot in that sector and do not recommend people investing a lot in that sector. I don't need the money. I have everything material-wise I want. I invest for the fun of it.
By the way, as I've said many times: if I could go back in time to tell my 25 year-old self one thing, it would be: you won't need as much money as you think in order to be happy.
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Same here. I’ve always viewed putting my earnings to work in two possible ways: investing and speculating. I decided that speculating often kept me awake at night so I decided about 25 years ago to limit my activities to those involving investing. I may lose out on the capital appreciation of speculation activities, but when Black Swan events happen I always sleep well at night. I’m more than happy to leave the get-rich activities to others. They may feel the same way when they reach their 70s and have a paid-off mortgage and no car payments.
What a nice feeling that is to have no mortgage nor car payments!!!! THAT is something I highly recommend. It not only gives you freedom but, also, financial flexibility.
Or if the electric grid collapses. Then you'll wish you had gold. And ammo.
Oh my. You don't believe they have a muti-layer backup generator system in place?
If you were in the field, you should take some free time to learn about the tech independent of any investment. It's pretty amazing to anyone who does a deep dive.
U.S. Shatters Oil Production Records in 2023
- Alongside oil, the U.S. is also set a new production record for natural gas this year.
- The previous record was in 2019.
U.S. Shatters Oil Production Records in 2023 | OilPrice.com
The U.S. has set a new annual record for oil production in 2023, surpassing the previous record set in 2019.
Because of their lame initial policies, they had no choice but to up production. It's still a fraction of what it will be when smart folks are back in charge.
I know what you mean. But, I'm at the age where I'm too lazy to put a lot of effort into anything. I'm on "cruise control". I feel like I have earned that right, due to having done my time. I measure myself on how my investments do against the S&P 500 and inflation. As long as I'm beating both, I'm satisfied.
Hear ya. That's the primary attribute of Bitcoin though -- it's immune to inflation and monetary expansion (money printing) which is getting exponentially worse due to covering debt service and terrible economic policy.
SPY's adjusted yearly rate-of-return over the past decade is around 7%. Bitcoin is well-over 10x per year that over the same time period. If you understand the Bitcoin halving cycles and timed investment accordingly, that would be well over 100x.
Ha. The prior run-ups have been approximately 6 months before and 18 months after -- though there's obviously no guarantee that continues. We'll have to see what this one brings with the big TradeFi players now deeply involved.
Which is where I am right now. It's hard to put a price on peace of mind.
As you know, I'm around your age. I have no debt that will need to be paid off once gone, including funeral expenses. Everything is taken care of, once my number is called. That is "peace of mind".
I will add though it is surreal to see your tombstone. I had to look at it for a minute.
If you are comfortable and earn a solid return on what you invest in- and enjoy it, then you are a successful investor and you should relax and enjoy your achievements.
Part of being a successful person is having the discipline to enjoy the fruits of your work. We all know people that do well but work 60+ hours a week and are never available to relax. That's miserable.
I like what Clark Howard has to say about investing. Clark repeatedly says he is a "boring" investor. He's "steady Eddie" and has made many millions.
More importantly, he describes himself as a very happy, content person that greatly enjoys his life, shares his money and time with charities that are important to him (including his own charity) and he advocates for- as he calls it - "boring investing."
You and I are probably very much alike in our thinking on this subject. I like investing but I don't like sitting around thinking about investing or talking about it. I like to make a decision, and forget about it. I have more valuable things I like to do than think about investing or keeping up with financial markets or financial products. That just doesn't interest me.
i started investing at a young age- right out of college- and my investments have been pretty boring over the years. But, they've paid off well and I'm very comfortable. I've achieved what I have wanted to in terms of money, retired early, and never worry about money at all.
With all that said, my father never invested much money, He mainly just saved his money. He paid off his house when he was in his early 40s and I've never heard him even mention once that he was worried about money, or a debt, or paying a bill. I've talked about investing with him before but he's not interested and never had any reason to be. He's a very happy person just driving his tractor in the field next to his house and working around the house. I've always admired that he was as happy as could be just sitting around and relaxing.
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Clark Howard makes money off people with little to no financial training. He can be a "boring investor" because he's making money from a million different angles through his website (referral commissions), the products he endorses. books, radio, public speaking and so on. And that's fine. Though it's sad that we're pushing a bunch of non-sense in school and skipping the basics of finance, investing and money management. Wonder why that is? 🧐
I don't expect I will be needing a tombstone.
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