Sure. But there are people who treat it as an investment.
I'm not giving advice on whether or not this actually is an investment; it's more to help people who are panicking because they already have invested more than they can bear to lose.
EDIT: And whether or not you consider it an investment, the law kinda sees anything that lots of people "invest in" (put money into) as an investment... not in every case (as ponzi investment schemes are not considered an investment, but rather are fraud), but generally speaking. To my knowledge (and again, I'm no legal expert) there hasn't ever been a legal test of this with Bitcoin, but if people can treat FOREX as an investment and have it taxed the moment it is withdrawn from the exchange, then the same is likely true of Bitcoin exchange.
Topic: Some observations (Read 777 times)
People who don't understand investing are giving out all kinds of advice about it.
Now that's where I beg to differ.
I wouldn't even call Bitcoin an investment yet.
Though the difference is very subtle, it's basically a series of gambles until that mythical day that may never come when Bitcoin becomes a legitimate currency and/or stablises.
Until then, it's the wild west.
The wikiwiki wild, wild west.
Is that a taker, then? 10 LTC? 
On a more serious note, I think "a couple of significant others" might be too much for you. Not that I'm judging, but y'know... there is actually a certain kind of person who's built for that, and you don't seem the type.
But if all you need is practice, there's plenty of opportunities for that.
On a more serious note, I think "a couple of significant others" might be too much for you. Not that I'm judging, but y'know... there is actually a certain kind of person who's built for that, and you don't seem the type.
But if all you need is practice, there's plenty of opportunities for that.
I could use a couple of significant others, especially now that I have a larger mattress that I bought for the LTC profits 
By way of observation, I've noticed a few things:
That being said there are some rules that people should understand before they buy in to any kind of investment scheme (and I think Bitcoin qualifies). This is NOT financial advice or legal advice; ALWAYS rely on expert advice in these matters, rather than some random guy in a forum (and yes, if you don't actually know me as a person, I qualify as "some random guy" and so does every chicken-little troll out there). My aim is to help people deal with their panic, not to tell them how they should behave. If something doesn't apply to you, then just ignore it.
These points are just things to help us all out a little. The days of fiat currency are numbered. But even more worthless than fiat currency is the Bitcoin. Which is why I'm investing into it myself: with more money invested, it increases in value.
If you would like more help (especially specific techniques) to lower anxiety, I'm selling a PowerPoint presentation for 10 LTC each copy (not that I'm stopping anyone from doing anything with it after that, since it's essentially free information anyway... but if you don't know how, then might I suggest it's worthwhile?).
- People are really very unstable in the Bitcoin day-trading scene, whether investor or admin it really doesn't seem to matter.
- The exchanges are (so far) following almost the exact same rules as the New York Stock Exchange (even if at a smaller scale).
- People who don't understand investing are giving out all kinds of advice about it.
- The recent "crash" (drop of 70% of the total value) is exciting me, because it means I can get more coins when I buy in.
- Bitcoins tend to be more stable than fiat money (as a general rule, the past 3 weeks notwithstanding).
- People are finding ways to neatly ignore everything except bad news (e.g., fearmongering and trolling).
That being said there are some rules that people should understand before they buy in to any kind of investment scheme (and I think Bitcoin qualifies). This is NOT financial advice or legal advice; ALWAYS rely on expert advice in these matters, rather than some random guy in a forum (and yes, if you don't actually know me as a person, I qualify as "some random guy" and so does every chicken-little troll out there). My aim is to help people deal with their panic, not to tell them how they should behave. If something doesn't apply to you, then just ignore it.
- Never invest more than you can afford to lose: We all have aims and goals, and we want to make money. But always consider the amount you've invested as the amount of loss, rather than the gross gains. If you invested BTC200 into an Avalon, you have not gained or lost anything in the buying of the machine; but when you gain those BTC200 back, you're breaking even. So long as you have BTC200, you have gained and lost nothing. But if you try to measure BTC in terms of USD or EUR (which many people do, we can't help it since it gives us an idea of buying power) then you're going to lose if you start reacting to every loss in value as a loss of income. It's only income when you buy things with it.
- If you feel like selling in order to cut your losses, consider everything OTHER than finances first: If the only thing you're looking at is the money, you're losing sight of a few other important things in life (things which are actually more worthy of your consideration than the flow of bits through a computer). For example, if you're a parent, your children could do with some time. If you're not a parent, a significant other is good to spend time with. And if you don't have a significant other... well, talk to me, I have techniques which can help you to find someone.
- Our entire existence is not tied to a computer: If you can't step away from the computer long enough to actually live, then "making a living" isn't happening. Miners and ASICs work without you watching. The market goes up and down hourly. The world doesn't depend on your success. If you are so tied up in the online world that you can't actually go out and do something other than watching Bitcoins, then you should turn off the monitor (not your miner, just the screen) and step away for 24h. We are people, made to move and to do things.
- If your anxiety is so high that you can't take watching the market, stop watching: Selling out only guarantees a drop, and buying in only guarantees a rise. Bitcoin is not "based" on anything, like gold or a government's word. The only real difference between most fiat currency and Bitcoin is the level of regulation: there are no laws regarding Bitcoin because it's really nothing more than the idea of a trading currency. There is no intrinsic value, no objective standard of value, and no real ideas about the way that such should work. There is no declared value, either: a Bitcoin is based on the solutions to complex mathematical formulas, and people convert their money into Bitcoins as a means of promoting a rather new idea in decentralization.
- Stress has been tied to obesity: In some very convincing (though not fully scientific) academic studies, there is a direct correlation between stress levels and girth. People who undergo enormous stresses in life will tend to put on weight because of a nasty little hormone called cortisol. This hormone is produced during times of extreme stress (whether good or bad stress, it doesn't matter... roller coasters give us good stress because it's fun; but it's still the same reaction).
- His name is Robert Paulson: In whatever world we run in, we find our own causes and motivations. As a general rule, hatred and revenge aren't going to really do us a lot of good. If we focus on what we hate (as is the case with this line from Fight Club: "His name is Robert Paulson.") then we really lose sight of the important stuff, like who is doing what to whom. We easily forget about the corruption which goes on between corporations and governments, because we're so focused on the money that we forget that most people don't do much more than barely survive. Consider what's important to the whole world: your success, or theirs? And consider how your own success could lead to theirs, and they will help you reach yours.
These points are just things to help us all out a little. The days of fiat currency are numbered. But even more worthless than fiat currency is the Bitcoin. Which is why I'm investing into it myself: with more money invested, it increases in value.
If you would like more help (especially specific techniques) to lower anxiety, I'm selling a PowerPoint presentation for 10 LTC each copy (not that I'm stopping anyone from doing anything with it after that, since it's essentially free information anyway... but if you don't know how, then might I suggest it's worthwhile?).
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