Who’s In????

Growing up, I used to get an orange and a penny in my Christmas stocking and be thrilled. Imagine if instead of one penny, you gave one Bitcoin. Watching Mornings With Maria now, they had a great segment on the pros and cons on buying Bitcoin today.

One expert said Go For It or else be prepared to kick yourself later when others have made a fortune and you sat out.

The moderate tone expert said Bubble Bubble Don’t Go There.

Even if I chose to afford buying Bitcoin, I’d be too nervous. It’d be my luck it would crash the next day.

Examples: I invested in a Broadway play that closed two weeks after I bought into it. And I vowed to hold a certain stock til it got to 60. It got to 59, I held, and the next day the company got hit with a major lawsuit and I lost it all.

I’ll pass on Bitcoin. Who’s in?

15 thoughts on “Who’s In????

    1. Seeing it. Thankfully it seems to have been a rank amateur. He got caught. Only one person with minor injuries. All to the good. Poor DeBlasio probably had to get out of bed before noon to get updates.

  1. Remember the Winklevoss twins from Greenwich?i believe it was a Bloomberg article that said they are now billionaires with their investment in bitcoin.if true kinda makes them forget about Facebook.i wouldn’t go near it.

    1. The twins are scheduled to appear on Mornings with Maria but not sure they will because of the news story in the city. But yes, Maria also referred to them as Bitcoin Billionaires. But how? Have they actually bought and sold enough coin to be billionaires or are they billionaires by the amount they own but not divested?
      The twins are on now. UPDATE: Excellent discussion between Maria and the twins. Topics they covered:
      What is Bitcoin.
      How is it regulated.
      Is it a scam?
      Is it a currency?
      How much do they own was the only question the twins refused to answer.

      1. Success stories for sure. Do they still live in Greenwich? I didn’t see wedding rings on either (not that all married men wear wedding rings).. just curious their status.

    1. Ditto. The twins did a good job of presenting Bitcoin to Maria’s audience tho. They don’t see it as a currency, rather like gold, something you buy for your portfolio not to buy a double cheeseburger with it.
      It’s hard to accept tho that the twins own Gemini, the only authorized and regulated Bitcoin trading company all the while being the single largest owners of it. Isn’t that a death knell? They certainly aren’t going to short their own product.

  2. They supposedly invested a decent slug of their Facebook settlement in bitcoin way back when. Rough math if they invested $10million at $50 (the rumor I’ve heard), that’s worth $3.2 billion at $16k per bitcoin.

    1. But they are only worth that much if they sell any, right? It’s like being a billionaire based on stock holdings. No co-op board in NYC is going to let you in on that alone. Liquidity baby, cash. Gotta have green stuff.

  3. At this point it is pure speculation. Still having painful memories of how much I lost in the dot com crash, I’ll sit this one out. I advised my son to cash out his gains at $7500 or so and say thank you very much as it is too much risk, IMHO. I would still give that advice though in retrospect, lots of money was left on the table. And the Winkelvii? I’ll believe it when I see a bank statement.

    Of course then there is this:

    https://www.bloomberg.com/news/articles/2017-12-08/the-bitcoin-whales-1-000-people-who-own-40-percent-of-the-market

    1. You and so many others cleaned out at the dot com crash. That was brutal. I did not have any money in that game thankfully. My sister did and lost bigly.

      I read somewhere today that (now former) Conyers Farm resident Petterfy (sp?) started trading Bitcoin today. He himself has said he’s not a big believer of the coin but hey, if it’s going to get traded, must as well get some of the action. I’ll find link and post. About to eat dinner.
      Here:

      “GREENWICH, Conn.–(BUSINESS WIRE)–Interactive Brokers Group, Inc. (NASDAQ GS:IBKR), a global electronic brokerage firm, began offering clients the ability to trade bitcoin futures at the start of trading on the Cboe Futures Exchange (CFE) on Sunday night, December 10th, 2017. In addition to offering bitcoin futures from the CFE, under the ticker symbol GXBT, the company plans to offer bitcoin futures from the Chicago Mercantile Exchange (CME) at the scheduled start of trading December 18th using the symbol BRR. IBKR was there at the start of trading and its systems operated normally.”

      Despite saying this:
      The chairman of the largest electronic brokerage firm in the US took out an ad in The Wall Street Journal to warn regulators about bitcoin futures.
      Interactive Brokers Chairman Thomas Peterffy doesn’t think bitcoin is ready for the futures market and said bitcoin futures could pose a risk to the economy.

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