Personal Finance and Investing

doc03

(37,809 posts)

17. I admit I know next to nothing about Bitcoin, but people were making millions back

Tue Apr 22, 2025, 08:13 AM

Apr 22

before the Great Recession on mortgage scams and derivatives (something else I know nothing about). But the whole thing
came crashing down in 2008. A friend of mine tried to get me to invest in the Dot Com bubble, he was worth millions and ended
up losing everything in 2000. Looking back over my 77 years I regret not buying land. I could have bought old farm and mining
land for a few hundred dollars an acre that is now selling for $50k to $100k an acre.

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progree mdmc

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Why don't we all use bitcoin? [View all] mdmc Apr 17 OP

Bitcoin is private enterprise, US Treasury is public. /nt bucolic_frolic Apr 17 #1

thanks for the reply.. mdmc Apr 17 #3

I don't understand how they have any value other than money laundering. I think doc03 Apr 17 #2

The big money return in crypto is::: Norrrm Apr 17 #7

what do you think about my idea of holding bitcoin for my kids? mdmc Apr 21 #12

I admit I know next to nothing about Bitcoin, but people were making millions back doc03 Apr 22 #17

thanks for the reply mdmc Apr 22 #18

I think of bitcoin as a future currency - I plan on leaving my bitcoins to my sons mdmc Apr 21 #11

If you can buy low and they can sell high, go for it. Norrrm Apr 21 #15

Thanks for the reply mdmc Apr 21 #16

If you want to buy NFT's you need ETH womanofthehills Sunday #29

thanks for checking in.. mdmc Thursday #40

I noticed while doing my taxes that there is now a section on cryptocurrency IcyPeas Apr 17 #4

I've heard that story! mdmc Apr 22 #19

I try very had to avoid scams. -misanthroptimist Apr 17 #5

You can actually buy Bitcoin thru PayPal womanofthehills Sunday #31

I asked your question on DuckDuckGo JoseBalow Apr 17 #6

thanks mdmc Apr 21 #13

No problemo JoseBalow Apr 21 #14

Weird as my transactions took seconds. womanofthehills Sunday #33

Bitcoin is loved by criminals & dark web. Outside of that it's no better than meme stocks like DJT & tRump's scam coin.n Bernardo de La Paz Apr 17 #8

oh my mdmc Apr 25 #21

Wrong - the young love Bitcoin womanofthehills Sunday #34

Your statement does not contradict mine or make it wrong. The two groups can separately love it. . . nt Bernardo de La Paz Sunday #35

Despite its name, it is not a currency created by the government to facilitate commerce. surfered Apr 17 #9

It has no ties to the production of goods and services. I would stay away from it. everyonematters Apr 17 #10

I've had people ask me what the dollar is based on.... A HERETIC I AM Apr 24 #20

US dollar based on US production. Bitcoin based on convenience for shadows, no production, no "store of value". . nt Bernardo de La Paz Apr 25 #22

Wouldn't bitcoin buyers back bitcoin? mdmc May 6 #23

That they back it does not provide a base. They can sell it down just as easily as buy it up. . . . nt Bernardo de La Paz Sunday #37

Too complicated for now brokephibroke May 7 #24

thanks for the link mdmc Sunday #25

Dave Troy hannah Sunday #26

Not sure who that is brokephibroke Sunday #38

I have a wallet but you can also buy Bitcoin on PayPal womanofthehills Sunday #36

I don't know how to buy food at the grocery store TheFarseer Sunday #27

Bitcoin are meme stocks that have no real intrinsic value LetMyPeopleVote Sunday #28

It can double or halve in value in a year or less. Shermann Sunday #30

2 yrs ago but still good vapor2 Sunday #32

Perfect - thanks. (nt) Pinback Yesterday #41

can you say discover. pansypoo53219 Monday #39