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07-14-2022, 12:21 PM
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Join Date: Dec 2008
Location: Alberta
Posts: 24,070
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there are constant ads online now for things like 'BTC primed to hit $100,000 very soon' lol
And I hear of people taking out loans just to buy in!
Just when I thought snakeoil had run it's course
__________________
Only dead fish go with the flow. The rest use their brains in life.
Originally Posted by Twisted Canuck
I wasn't thinking far enough ahead for an outcome, I was ranting. By definition, a rant doesn't imply much forethought..... 
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07-14-2022, 01:06 PM
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Join Date: Feb 2012
Location: Edmonton (shudder)
Posts: 4,664
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Quote:
Originally Posted by Ken07AOVette
there are constant ads online now for things like 'BTC primed to hit $100,000 very soon' lol
And I hear of people taking out loans just to buy in!
Just when I thought snakeoil had run it's course
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Human nature never changes Ken.
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07-14-2022, 02:34 PM
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Join Date: Sep 2011
Location: Edmonton
Posts: 315
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^
Honestly, on a 5-10 year timeline I would be very surprised if BTC did not reach and exceed $100k US.
At this point I don't know that I understand the logic of calling BTC snake oil or a scam. There are definitely nefarious actors and scams in the crypto landscape, but I would think at this point BTC should be considered a legitimate albeit volatile asset.
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07-14-2022, 03:36 PM
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AO Sponsor
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Join Date: Jun 2022
Location: Alberta
Posts: 6
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Quote:
Originally Posted by ehrgeiz
^
Honestly, on a 5-10 year timeline I would be very surprised if BTC did not reach and exceed $100k US.
At this point I don't know that I understand the logic of calling BTC snake oil or a scam. There are definitely nefarious actors and scams in the crypto landscape, but I would think at this point BTC should be considered a legitimate albeit volatile asset.
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Agreed 100k+ is inevitable, every time this happens the bounce back also seems to be stronger than before
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07-14-2022, 04:42 PM
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Join Date: Dec 2008
Location: Alberta
Posts: 24,070
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Quote:
Originally Posted by ehrgeiz
^
Honestly, on a 5-10 year timeline I would be very surprised if BTC did not reach and exceed $100k US.
At this point I don't know that I understand the logic of calling BTC snake oil or a scam. There are definitely nefarious actors and scams in the crypto landscape, but I would think at this point BTC should be considered a legitimate albeit volatile asset.
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lol preach that to the masses that have lost nearly a TRILLION dollars SINCE MAY! 
How much money was lost in the bitcoin crash?
Since early May, more than $700 billion has been wiped out in a devastating crypto crash, plunging investors into financial ruin and forcing companies like Gemini to slash costs.Jun 30, 2022
__________________
Only dead fish go with the flow. The rest use their brains in life.
Originally Posted by Twisted Canuck
I wasn't thinking far enough ahead for an outcome, I was ranting. By definition, a rant doesn't imply much forethought.....
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07-14-2022, 10:13 PM
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Join Date: Sep 2011
Location: Edmonton
Posts: 315
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^
I don’t know that I would agree. There is a couple handfuls of well regarded publicly traded companies that have also scrubbed trillions of market value from investors in the first half of 2022. I wouldn’t call them scams. As with any financial asset, number doesn’t always go up.
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07-15-2022, 09:29 AM
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Join Date: Jan 2010
Location: WMU 226
Posts: 2,198
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I pocketed $1500 from investing $1500 in three months with Ethereum. Could have got more could have lost more. My point is $1500 of that $700 billion went into my pockets and the rest went into someone else’s.
With Ethereum there was a very small market cap so whales could play with it easily that’s why I got out. Still a great way for the criminal element to pay each other and launder so I believe it will never go to 0 but I have been wrong before
Last time it crashed big when it was around $8000 people thought that was the end of it as well. If I had more money to
Invest in risky assets I would throw a bunch into crypto right now. Next run might hit $300,000 who knows. $20,000 is still way up from where it crashed last time at $8000. The big thing is how the government handles crypto currency. Most likely they will come up with their own like China did.
Next time the government announces they are invoking the Emergencies Act expect another run.
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As a man thinketh in his heart so he is
Last edited by ganderblaster; 07-15-2022 at 09:37 AM.
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07-15-2022, 09:48 AM
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Join Date: Dec 2008
Location: Alberta
Posts: 24,070
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Quote:
Originally Posted by ehrgeiz
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I don’t know that I would agree. There is a couple handfuls of well regarded publicly traded companies that have also scrubbed trillions of market value from investors in the first half of 2022. I wouldn’t call them scams. As with any financial asset, number doesn’t always go up.
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Good point- basically when I hear investors calling for people to invest in their proven business (just started last month) what I actually hear is 'let US put YOUR money to work for US.... err I you, I mean you.....'
and then I go the other direction. But for some, you bet it works.
__________________
Only dead fish go with the flow. The rest use their brains in life.
Originally Posted by Twisted Canuck
I wasn't thinking far enough ahead for an outcome, I was ranting. By definition, a rant doesn't imply much forethought.....
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07-15-2022, 10:12 AM
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Join Date: Jan 2008
Location: Calgary Perchdance
Posts: 19,031
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Hmmm
Bitcoin
When looking at the 6 month trend… one could see a trend suggesting any day now the Bitcoin should drop $5-10. Will be interesting to see if the floor falls out again like it did on April 4, May 4, and June 9….
__________________
It is not the most intellectual of the species that survives; it is not the strongest that survives; but the species that survives is the one that is able best to adapt and adjust to the changing environment in which it finds itself. Charles Darwin
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07-15-2022, 10:17 AM
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Join Date: Dec 2009
Location: Alberta
Posts: 3,650
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Quote:
Originally Posted by Ken07AOVette
Good point- basically when I hear investors calling for people to invest in their proven business (just started last month) what I actually hear is 'let US put YOUR money to work for US.... err I you, I mean you.....'
and then I go the other direction. But for some, you bet it works.
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Have an open mind when opportunities present themselves Ken... Bit coin as an example, buddy tried to talk me into the ride while it was around 5 K, he bought in and retired to Kelowna in two short years.
Many years ago, another friend threw out the question, how much grain does farm land in Saskatchewan produce compared to Alberta. Short answer was we should start buying as much farmland as we can across the wheat boarder. We sold the Hold Co. for near 20 million a decade later.
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07-15-2022, 11:01 AM
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Join Date: Dec 2008
Location: Alberta
Posts: 24,070
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Quote:
Originally Posted by Sledhead71
Have an open mind when opportunities present themselves Ken... Bit coin as an example, buddy tried to talk me into the ride while it was around 5 K, he bought in and retired to Kelowna in two short years.
Many years ago, another friend threw out the question, how much grain does farm land in Saskatchewan produce compared to Alberta. Short answer was we should start buying as much farmland as we can across the wheat boarder. We sold the Hold Co. for near 20 million a decade later.
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I have an open mind when it comes to making money, but crypto is a lottery. Some win some lose. Anything that involves handing someone else your money to further your balance is a lottery. I prefer equipment to throwing the dice.
I know a guy that was talked into BTC investing, and now at 75 yoa is working at Macdonalds Lloydminster because he lost EVERYTHING.
They are not all success stories.
__________________
Only dead fish go with the flow. The rest use their brains in life.
Originally Posted by Twisted Canuck
I wasn't thinking far enough ahead for an outcome, I was ranting. By definition, a rant doesn't imply much forethought.....
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07-15-2022, 11:18 AM
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Join Date: Jan 2010
Location: WMU 226
Posts: 2,198
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Quote:
Originally Posted by Ken07AOVette
I have an open mind when it comes to making money, but crypto is a lottery. Some win some lose. Anything that involves handing someone else your money to further your balance is a lottery. I prefer equipment to throwing the dice.
I know a guy that was talked into BTC investing, and now at 75 yoa is working at Macdonalds Lloydminster because he lost EVERYTHING.
They are not all success stories.
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100% with crypto and even most stocks only invest what you can afford to lose without it disrupting your lifestyle.
Very good point Ken.
It’s easy to get carried away when all that’s happening around is Ka-Ching Ka-Ching and you can see how going all in a week ago would have tripled the money.
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As a man thinketh in his heart so he is
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07-15-2022, 12:38 PM
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Join Date: Dec 2009
Location: Alberta
Posts: 3,650
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Quote:
Originally Posted by Ken07AOVette
I have an open mind when it comes to making money, but crypto is a lottery. Some win some lose. Anything that involves handing someone else your money to further your balance is a lottery. I prefer equipment to throwing the dice.
I know a guy that was talked into BTC investing, and now at 75 yoa is working at Macdonalds Lloydminster because he lost EVERYTHING.
They are not all success stories.
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I like my hard assets too, but they as well have highs and lows...
The one who talked you friend into investing heavy at 75 should be kicked in the junk... Risk should be based on where you are in life and what you are prepared to loose...
I personally have never invested in Crypto, but wish I would have a couple years back...
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07-15-2022, 01:47 PM
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Join Date: Apr 2012
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I just started to invest a bit in it.
I only invested what I can loose. If I am loosing sleep over it then it's too much.
All stocks can crash even if they are companies, I can relate stories from my friends.
Over the last month I have seen my crypto loose, then gain, but I haven't lost nor made any money as i haven't cashed out anything.
If the predictions come true for my stuff I will have in 7 years anywhere between $15,000,000 to $0 on my little amount. Lol
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07-15-2022, 03:03 PM
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Join Date: Dec 2008
Location: Alberta
Posts: 24,070
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Quote:
Originally Posted by Sledhead71
I like my hard assets too, but they as well have highs and lows...
The one who talked you friend into investing heavy at 75 should be kicked in the junk... Risk should be based on where you are in life and what you are prepared to loose...
I personally have never invested in Crypto, but wish I would have a couple years back...
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It just made me sick when he told me. I asked if he was the owner. Nope, minimum wage just trying to keep head above water.
__________________
Only dead fish go with the flow. The rest use their brains in life.
Originally Posted by Twisted Canuck
I wasn't thinking far enough ahead for an outcome, I was ranting. By definition, a rant doesn't imply much forethought.....
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07-16-2022, 02:01 PM
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Join Date: Jan 2008
Location: Calgary Perchdance
Posts: 19,031
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Celsius and Voyager are bankrupt.
Investors of crypto have lost billions.
https://news.google.com/articles/CAI...A&ceid=CA%3Aen
Invested through Celsius or Voyager.
Gone.
Yikes.
__________________
It is not the most intellectual of the species that survives; it is not the strongest that survives; but the species that survives is the one that is able best to adapt and adjust to the changing environment in which it finds itself. Charles Darwin
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07-16-2022, 03:18 PM
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Join Date: Dec 2008
Location: Alberta
Posts: 24,070
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Quote:
Originally Posted by Sundancefisher
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LOL- the very first guy- wakes up and cries because he lost everything listening to the investment firms after everyone said not to do it, then a few lines later says 'I will just buy $1000 worth of bitcoin and leave it there'
(to become $40?)
Sucker for punishment. Must like crying.
This thinking is what
__________________
Only dead fish go with the flow. The rest use their brains in life.
Originally Posted by Twisted Canuck
I wasn't thinking far enough ahead for an outcome, I was ranting. By definition, a rant doesn't imply much forethought.....
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08-02-2022, 12:08 AM
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Join Date: Jul 2017
Posts: 3,920
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Quote:
Originally Posted by fishtank
Quote:
Originally Posted by fishnguy
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FTX won’t save em, they must have get first dibs to look at the books, must be lots of skeletons in the closet …
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The Securities and Exchange Commission said on Monday it charged 11 people for their roles in creating and promoting a fraudulent crypto pyramid and Ponzi scheme that raised over $300 million from retail investors worldwide, including in the United States.
Those charged included the four founders of the scheme named Forsage. They were last known to be living in Russia, the Republic of Georgia, and Indonesia, the SEC said in a statement.
According to the SEC's complaint, the scheme's website was launched in January 2020 and allowed millions of retail investors to enter into transactions via smart contracts. It allegedly operated as a pyramid scheme for more than two years, in which investors earned profits by recruiting others into the scheme, the SEC said.
Forsage also allegedly used assets from new investors to pay earlier investors in a typical Ponzi structure, the SEC complaint added.
"Forsage is a fraudulent pyramid scheme launched on a massive scale and aggressively marketed to investors," said Carolyn Welshhans, acting chief of the SEC's Crypto Assets and Cyber unit. "Fraudsters cannot circumvent the federal securities laws by focusing their schemes on smart contracts and blockchains."
Without admitting or denying the allegations, two of the defendants agreed to settle the charges and one of them agreed to pay penalties, the SEC said.
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08-14-2022, 09:54 AM
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Join Date: Jun 2012
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Crypto is making a comeback now 5 of my coins are almost at even and etherium I am making money off it now.
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08-14-2022, 09:55 AM
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Join Date: Dec 2008
Location: Alberta
Posts: 24,070
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Quote:
Originally Posted by elkslayer132
Crypto is making a comeback now 5 of my coins are almost at even and etherium I am making money off it now.
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so you paid $156,000 for 5 bitcoins?
__________________
Only dead fish go with the flow. The rest use their brains in life.
Originally Posted by Twisted Canuck
I wasn't thinking far enough ahead for an outcome, I was ranting. By definition, a rant doesn't imply much forethought.....
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08-14-2022, 10:01 AM
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Join Date: Jun 2012
Posts: 374
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Did I say they were all bitcoins I have 6 different types of crypto coins and many coins of each
Last edited by elkslayer132; 08-14-2022 at 10:12 AM.
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11-08-2022, 12:44 PM
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Join Date: May 2010
Location: edmonton
Posts: 3,878
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Quote:
Originally Posted by Sundancefisher
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The so call white knight in the last liquidation FTX is facing some liquidity issues .. bailedout* by binance .
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11-08-2022, 01:10 PM
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Join Date: Jul 2014
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****coin going to zero lol. Ponzi scheme is over.
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11-08-2022, 02:22 PM
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Join Date: Sep 2011
Location: Edmonton
Posts: 315
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Binance releases a LOI for emergency acquisition of FTX in response to a liquidity crisis because ponzi. Kraken withdrawal seems to be down right now. Hmm my guess is they're trying to stave off a large withdrawal event by disabling the feature or it could really just be a technical issue with very inconvenient timing.
Wild times. Self custody is critical! Looks like this chaos might introduce the next leg down for anyone looking at a good entry. If this keeps up I'll be buying all the kids and nieces/ nephews their Christmas BTC sooner than later.
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11-08-2022, 04:54 PM
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Join Date: Apr 2008
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BTC for Xmas. Now that sounds even worse than a lump of coal. Even more worthless too.
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11-08-2022, 06:07 PM
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Join Date: Sep 2011
Location: Edmonton
Posts: 315
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^
Hmmm not sure if srs? You do realize that BTC can be exchanged for CAD at will right?
I've been buying them it for Christmas and Birthdays since 2017. Not so bad when an 8 year old has their own self custody BTC wallet currently worth ±$5k. They were very happy when BTC was at ATH though haha.
Heck, I know enough adults that don't have $5k in savings or investments.
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11-08-2022, 06:18 PM
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Join Date: Apr 2008
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That’s just it. “They were very happy when BTC was at all time highs”. Since then their portfolio has went way down. And it’s going to continue going down if all they own is BTC.
I also invest for my kids. But the biggest investment I’ve made on their behalf is teaching them about real value investing. Never speculating and gambling and hoping.
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11-08-2022, 06:55 PM
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Join Date: Sep 2011
Location: Edmonton
Posts: 315
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I'd suggest it's teaching them a valuable lesson about the volatility of financial assets haha. All investments have components of speculation and risk. Number doesn't always go up with anything.
Seems like you think BTC is not a real investment and is going to 0. That's been a lot of folks position on the matter since the beginning and so far that prophecy has not come true. I think BTC will continue to accrue value over time. I guess let's check back in 10 years and see what do huh.
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11-08-2022, 08:41 PM
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Join Date: Apr 2008
Posts: 1,490
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I wish you the best of luck. Have a great hunting season
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11-08-2022, 09:39 PM
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Join Date: Sep 2011
Location: Edmonton
Posts: 315
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Thanks and a great hunting season to you as well.
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