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Hello Sailor
May 3, 2006

we're all mad here

Breath Ray posted:

im up a cool 34 pence for the week thanks to my Japan Government Bond Index Fund Hedged Accumulation

If your fund is worth $370 usd, you're golden

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Hello Sailor
May 3, 2006

we're all mad here

It kind of has to in order to be useable as a currency. Otherwise it's just a fad collectible and will die whenever the next one comes along. I'm sure someone thought the same as you about beanie babies once.

e: If it's such an amazing investment, why are you pulling it out to buy real estate? Property values don't go up that quickly.

Hello Sailor fucked around with this message at 14:02 on Jan 14, 2021

Hello Sailor
May 3, 2006

we're all mad here

A) You're not a goon, Seraph84. You've been repeatedly rejected in your attempts to join the community of goons and just can't take a hint.

B) At this point all purchases of digital currency for speculation purposes are gambles, not investments. You can find any number of economists who have gone into great detail as to why, but you can't take a hint there, either. Anyone who gambled on bitcoin or dogecoin or etherium or whatever digital currency you want to cite and made money was lucky. Good investments are not based on luck.

C) gently caress off.

Hello Sailor
May 3, 2006

we're all mad here

YumNocoinerTears posted:

Lol no. It's called a down payment. It's called a mortgage. Heard of it?

A) I have thousands of posts on this forum over the past 5 years. Virtually every member of this forum knows who I am, and I continue to post here whenever I choose. The owner of this forum and many other goons have told me I'm funny. My posts have been featured on the goons.txt twitter, and I have a SAclopedia entry. I am more of a goon than you will ever be, random bitter nocoiner goon #00387267

B) Investment? Speculation? The only meaningful difference between these two words is the degree of risk and reward involved. Since evaluating risk is entirely subjective, it's an exercise for each of us to define for ourselves what constitutes an investment and what constitutes speculation. "An investment is an asset or item acquired with the goal of generating income or appreciation in the future. Speculation is a financial transaction that has substantial risk of losing all value, but with the expectation of a significant gain."

Goons have been saying that Bitcoin is a high risk investment that is likely to lose all value for ten years, and they've been proven for ten years (and counting). Therefore, I argue that my Bitcoin holdings are in fact an investment by definition. You may disagree based on your own evaluation of the risks involved in holding Bitcoin – and that's fine! But going around claiming there is some objective truth about what determines whether something is speculation is stupid and by definition incorrect.

Risk is something we each have to define for ourselves. I decided the risk was low and the potential reward was tremendous, and ended up multiplying my initial investment ~150-fold in just over seven years. Take from that what you will.

C) No u. I've said it before and I'll say it again: Money talks, and bullshit walks. Strap in, cupcake, because I ain't goin nowhere!

A) You were banned and told to go away three days after making your first account, pedophile. I'm sorry that you think that having nothing better to spend money on and us humoring your mental illness makes you a member of the community, but it doesn't. I had never heard of you until your first post in this thread. You're certainly not the first person to make the mistake of thinking that being repeatedly asked to leave somehow makes you a member of the community, you probably won't be the last. You'll eventually snap out of it and disappear (or see C), just like all the ones before you. I'll still be here.

B) Ah, the "words mean whatever I want them to" defense. When I say "investment", "speculation", and "gambling" in regards to purchasing digital currency, I'm using them in the same sense that experts in the field do. You are not. For example, "investment" specifically refers to capital goods. Digital currencies are not a capital good. By definition, they are not an investment.

The price of bitcoin is entirely driven by mania. How can you tell? Because it's not significantly different from any other digital currency out there (it even has significant built-in problems that other d.currencies are better at avoiding), yet those currencies have not seen the sustained increase in price that bitcoin has and the general public never hears about them. This means BTC is a fad which will eventually die when the perception of novelty goes away. It could be next month, it could be another 10 years from now. When it fails, there will be people left holding the bag.

The willingness to accept risk is subjective, but the (correct) assessment of risk is not. People may be willing to bet money on a coin flip, but the odds don't stop being 50/50. On average, about one out of every thousand people will win ten coin flips in a row; do you think that means that one person made a good decision to speculate on coin flips?

C) Once a serial account buyer's harassment becomes sufficiently tiresome, the usual procedure is to seek legal solutions in civil and/or criminal court. Please, enlighten us on how you plan to use your wealth to evade the law.

Hello Sailor
May 3, 2006

we're all mad here

Looks like he gets 2 posts in, so he's doubled his investment!

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Hello Sailor
May 3, 2006

we're all mad here

Bitcoin King Kai posted:

I'll take your lack of response as a forfeiture of the argument. Eagerly awaiting that QCS thread, by the way!

Mood:

https://www.youtube.com/watch?v=MRyLC2M1K2w

Sorry, but who are you? The guy I was arguing with ceded the argument by getting banned a few times.

e:

Ariong posted:

Just because you don't agree with the definition of the word "minor" doesn't mean you can start redefining words as you please.

This, too. That guy didn't have an argument, he had a collection of buzzwords that meant whatever he wanted them to mean. If I yearned for that level of "intellectual discourse", I'd find a Flat Earther or creationist.

Hello Sailor fucked around with this message at 09:12 on Feb 7, 2021

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