| flyingfarmerNebraska - 1/8/2021 07:44 Gee Kooiker I had no idea that is how it worked..... Really. Next you will explain that water is wet.
I know that is a "duh" saying but there's a lot of people that think they have a lot of money because whatever they own whether it be stocks, farmland, bit coin whatever is currently worth a lot. For example look at how much a balance sheet for a farm can fluctuate based solely on grain prices on unpriced inventory year over year.
Stocks, bitcoin, land etc are NOT money in the United States. Yes, they can be traded and bartered with but they are not currency that you can use to pay your taxes or you bank note.
I've personally owned a stock that had me up many thousands in a relatively short timeframe only to watch it disappear completely worthless a couple weeks later. And that was a stock that was actually a company that had physical assets and produced a product, they just had been so mismanaged that the quickly accumulating debt ate up 100% of the equity fast. They filed bankruptcy and were bought for pennies leaving the shareholders with nothing.
I'll stand by my prior statements that if you own Bitcoin 1 second too long you will lose everything you put in it. It only has value as long as people think it has value, it has no physical value and produces nothing. It doesn't even have any salvage value.
|
where to watch bitcoin?
