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opportunitykenny

Bitcoin Business.......Is it good for christians

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5 hours ago, TheAimes said:

I have a friend who bought in when it was around $500 per bitcoin. He encouraged me to do buy a couple then ... imagine how I feel now that they're going for $15,000 each .... 

 

I view it as any other investment, only use disposable income for stuff like this. 

how is bitcoin able to increase in value like this? take for example from $500 -$15,000 what is really giving bitcoin this power?

 

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Excerpt from Fox news:

"Though there may be hundreds of millions of dollars worth of gold bullion scattered around the world’s oceans in undiscovered shipwrecks, much more digital coinage may have been lost in the past decade alone. Of the 16.4 million Bitcoins said to be in circulation in the middle of 2017, close to 3.8 million may have been lost. That works out to more than $30 billion.

One of the best features of Bitcoin is its ability to be stored offline on local hardware — so called, “cold storage.” Having a cryptocurrency “wallet” on a hard drive or flash drive means it is protected from being stolen online, but if you lose access to that device, those coins are also lost forever. That’s where the majority of the estimated lost horde of cryptocurrency has gone, with many early miners and investors misplacing the currency before it was ever worth anything."

I can see it now, hundreds of years from now like it is on the silly adventure on tv today called "The Curse Of  Oak Island" there will be individuals looking for the lost hard drives from days of old in land fills long ago made into golf course communities and then abandoned. Looking for lost bit coins.

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6 hours ago, TheAimes said:

I have a friend who bought in when it was around $500 per bitcoin. He encouraged me to do buy a couple then ... imagine how I feel now that they're going for $15,000 each .... 

 

I view it as any other investment, only use disposable income for stuff like this. 

Nothing risked nothing gained? But what is the fruit of the gain? For long term security and safety of investment avoid excessive concern about speculation over the coinage of any Caesar!

Instead:

Invest in the Word of God first, but do not bury that Word, waiting for the Master to  return to see what has been  done with his treasure*. 

Take risk not from excess that does not matter, and is thought safe to lose at no real personal cost. Instead take all, from the very core of one's being, the soul and spirit. Invest it all in the word of God. What better risk can anyone assume? Share of Jesus, with the damn the torpedoes, full speed ahead mindset, and do not worry excessively about earthly wealth to be gained without one's own labor. 

The vast wealth born of earthly speculations is temporal vapor  at best and delusion  onto eternal depravity at worse.

The Parable of the Talents

 “For it will be like a man going on a journey, who called his servants and entrusted to them his property.  To one he gave five talents, to another two, to another one, to each according to his ability. Then he went away.  He who had received the five talents went at once and traded with them, and he made five talents more.  So also he who had the two talents made two talents more.  But he who had received the one talent went and dug in the ground and hid his master's money.  Now after a long time the master of those servants came and settled accounts with them.  And he who had received the five talents came forward, bringing five talents more, saying, ‘Master, you delivered to me five talents; here, I have made five talents more.’  His master said to him, ‘Well done, good and faithful servant. You have been faithful over a little; I will set you over much. Enter into the joy of your master.’ 2And he also who had the two talents came forward, saying, ‘Master, you delivered to me two talents; here, I have made two talents more.’  His master said to him, ‘Well done, good and faithful servant. You have been faithful over a little; I will set you over much. Enter into the joy of your master.’  He also who had received the one talent came forward, saying, ‘Master, I knew you to be a hard man, reaping where you did not sow, and gathering where you scattered no seed,  so I was afraid, and I went and hid your talent in the ground. Here, you have what is yours.’  But his master answered him, ‘You wicked and slothful servant! You knew that I reap where I have not sown and gather where I scattered no seed? Then you ought to have invested my money with the bankers, and at my coming I should have received what was my own with interest.  So take the talent from him and give it to him who has the ten talents. For to everyone who has will more be given, and he will have an abundance. But from the one who has not, even what he has will be taken away.And cast the worthless servant into the outer darkness. In that place there will be weeping and gnashing of teeth."

 

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1 hour ago, opportunitykenny said:

how is bitcoin able to increase in value like this? take for example from $500 -$15,000 what is really giving bitcoin this power?

 

It does not have power.  It has a temporary high price that people are willing to buy and sell it at.  The reality is that usually by the time you see news articles in popular media things are at a bubble stage and near their peak.  The price is high because it is popular and people want it.  When the popularity drops, the price will drop.  The last people into a mania are usually the ones who lose the most money.

Bitcoin might have a high value run of another few weeks, years, or decades.  It is hard to predict.  The value now might be near the all time peak anyone will ever see.  The value might rise another factor of 2 or 3 or more.   You could put in $1K now and see it grow to $10K in the next year; or you could put in $1K now and see it permanently drop to under $100.  It might stabilize near some level and become a stable place to store money.

Then there is the potential for "black swan" events.  Something might cause the bitcoin value to jump or drop a lot in a short time.  Some governments might outlaw it.  Some government sponsored hackers might figure out how to steal or counterfeit it.  Some other digital currency that is better designed and easier to use might replace it.  Credit card companies might introduce a technology to allow you to trivially pay in bitcoins at any place that takes credit cards.

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