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NYT Bitcoin plug teases - Everyone is getting Hilariously Rich, but you're not

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posted on Jan, 14 2018 @ 06:45 PM
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nytimes.com/2018/01/13/style/bitcoin-millionaires.html

They state bitcoin went from $830 to $19,300 in just 2017 alone. Guess that means anyone who acquired 50 or more bitcoin during the lower value now has over $1 million dollars worth based on the current value - in bitcoins.

How is that 'everyone' and how is that 'hilariously' rich?




posted on Jan, 14 2018 @ 07:01 PM
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Good luck with that.






posted on Jan, 14 2018 @ 07:05 PM
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a reply to: Planette

Are you doubting the wealth of the people who did invest, or are you doubting that $1,000,000 is a good amount of money.
Or both?



posted on Jan, 14 2018 @ 07:12 PM
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It's a true fact bitcoin has made millionaires.

And isn't the only cryptocurrency that has.



posted on Jan, 14 2018 @ 07:21 PM
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originally posted by: neo96
It's a true fact bitcoin has made millionaires.

And isn't the only cryptocurrency that has.



Or will.



posted on Jan, 14 2018 @ 07:30 PM
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Buffet says it's bunk and not real currency.

Fun for day traders though.



posted on Jan, 14 2018 @ 07:38 PM
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a reply to: Mandroid7

Buffet back tracked too.

Said he didn't know anything bout it.

cointelegraph.com...
edit on 14-1-2018 by neo96 because: (no reason given)



posted on Jan, 14 2018 @ 07:47 PM
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originally posted by: Mandroid7
Buffet says it's bunk and not real currency.

Fun for day traders though.







If you buy 58,000 reddcoin for .00133 cents and the price climbs to .03 cents 3 months later and you sell, you bet it is "real".



posted on Jan, 14 2018 @ 07:54 PM
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a reply to: IgnoranceIsntBlisss

Even the dot com bubble left billionaires in its wake even after it popped. Look at how it was a “bubble” yet it influenced our daily lives like nothing before and there were some lasting companies from the whole thing, some are the most powerful in the world.
edit on 14pmSun, 14 Jan 2018 19:55:58 -0600kbpmkAmerica/Chicago by darkbake because: (no reason given)



posted on Jan, 14 2018 @ 07:54 PM
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if most everyone is wealthy, then how come over half of Americans don't even have even $1k in savings?

suppose its easy for people on FB that are broke to CLAIM they have $1m in bitcoins.. and get a million likes/friends


sign of the times.



posted on Jan, 14 2018 @ 07:54 PM
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a reply to: neo96

none of those millionaires were made after summer 2017, and nobody who bought after will become one from bitcoin.

Anybody holding coins now that bought at or before October should just dump their coins now and take delivery/possession of their gains, or they will not be happy with the results for 2018.

There are other new coins to buy into if you want to keep riding this roller coaster until the central banks put their strangle on it though. Bitcoin may as well be dead, thats why they split off Bitcoin Cash and BC gold etc..

The money has been made on BC though, best to move on to greener pasture.



posted on Jan, 14 2018 @ 07:57 PM
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a reply to: neo96

I’ve heard Bitcoin or altcoins could even make the first trillionaires. Also, they have made some billionaires already.

If I had that kind of money, I would sell and go into real estate.
edit on 14pmSun, 14 Jan 2018 19:59:51 -0600kbpmkAmerica/Chicago by darkbake because: (no reason given)



posted on Jan, 14 2018 @ 07:58 PM
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a reply to: seasonal

It's not wealth until you've cashed out and sunk it into something real, property, precious metals, even tools, clothes.

But counting digits in a computer as wealth is ludicrous.



posted on Jan, 14 2018 @ 07:59 PM
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a reply to: Planette




if most everyone is wealthy, then how come over half of Americans don't even have even $1k in savings?


Misplaced priorities.



posted on Jan, 14 2018 @ 08:01 PM
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a reply to: SkeptiSchism

That is one of the best arguments against crypto. Having millions in currency is great, on paper. Having wealth like property, precious metals, assets (especially the kinds that generate revenue) and a quality of life one wants to lead all play a larger part of being rich or wealthy.

If folks don't at least have their initial investment back in their hands, it's rather fruitless.

Conversely, there are no future tellers here, so who knows what will happen. I do know that I am on this train and have actually profited and now hold more in wealth than I did before outside of but using crypto.



posted on Jan, 14 2018 @ 08:01 PM
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a reply to: worldstarcountry




The money has been made on BC though, best to move on to greener pasture.


I'm in 13 different pastures soon to be 15.

Bitcoin among them.



posted on Jan, 14 2018 @ 08:06 PM
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a reply to: darkbake

Why not the stock market? Why not the service industry? Why not manufacturing? Why not yacht sales? On and on and on.

There are plenty of profitable ventures that make folks rich. However there hasn't been one in recent memory where the average Joe can get in ahead of the herd.



posted on Jan, 14 2018 @ 08:16 PM
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originally posted by: SkeptiSchism
a reply to: seasonal

It's not wealth until you've cashed out and sunk it into something real, property, precious metals, even tools, clothes.

But counting digits in a computer as wealth is ludicrous.


Hate to tell you this, there is not such thing as something "real". Things are only real if someone else wants to buy/trade for it.
As we saw in 2008 houses that are now (2018) worth $170,000 were selling for $30,000 during the coldest days of the bank lead global financial crisis.

Ultimately the market will tell us loud and clear what is "real". I do get what you are saying, there is "useful" wealth, like a farm or large excavation business with $2,000,000 worth of equipment.
But many many very wealthy people who have never touched their millions or billions believe their digits on their computer is wealth and the world, for now agrees.



posted on Jan, 14 2018 @ 08:17 PM
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a reply to: neo96
well there you go your in a good position, highly diversified. Thats the way it should be.
a reply to: JinMI
true enough. But average Joe has to time it right, not wait and see until others become millionaires and then try to repeat the formula after saturation. That means not waiting until the news is blasting the topic on to every channel and website. It has to be bought into before all that hype.

Once something reaches the hype stage, its near the end of good returns. Look at the competition. The most likely candidate will be Ripple, which ironically is tied to the Central Bank system now, isnt it?



posted on Jan, 14 2018 @ 08:21 PM
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a reply to: JinMI

I don't own cryptos but I read a long time ago that the really wealthy people always book their profits in gold, platinum or some other tangible asset. That's why they manipulate the prices in the future's markets to keep the prices low so they can periodically book their profits.

I don't have anything against cryptos personally I think encrypted databases could be a boon to humanity but betting on their value now without some real functionality in the economy is shortsighted IMO.



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