Who else is putting their Stimulus into Bitcoin?

20kevin20

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Quote from: sujon5 on January 01, 2021, 11:48:33 PM

I have mixed feelings about your post. Stimulus checks were aimed to make people spend more money on everyday needs and boost the economy. If someone thinks about investing the check in crypto, it means that person has some extra money. Do people who live paycheck to paycheck make any investments? No.
p.s. There aren't any stimulus programs in my native country.

So for the average person who's living ona paycheck to paycheck basis.. do you think it's better if they spend the entire paycheck on useless stuff (or even on food) when they could try to live off the money they currently have while investing the stimulus for bad days such as those we've had with the virus? To me, it makes more sense to take that money and store it rather than spend it. Why the hell would I want to artificially boost the economy by sustaining the already rich corporations when we could use it as a long-term plan to sustain ourselves & our family...

youdacapt

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Quote from: DECABEATZ on December 30, 2020, 03:45:44 PM

I KNOW I AM! Food for thought - the first Stimulus $1,200 if put into Bitcoin is now worth $4,146 Do i need to ask why you didnt? BTC

Stimulus is to help you survive a lockdown and be very comfortable so that you can comply with the terms of staying at home. So if you can be very comfortable investing your stimulus into bitcoin; then so be it. otherwise it is an unnecessary investment. There are two sides to an investment; and you need to trade with funds you can part with.

sujon5

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I have mixed feelings about your post. Stimulus checks were aimed to make people spend more money on everyday needs and boost the economy. If someone thinks about investing the check in crypto, it means that person has some extra money. Do people who live paycheck to paycheck make any investments? No.
p.s. There aren't any stimulus programs in my native country.

Shasha80

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I'm sure not many people who get government stimulus are used to buy Bitcoin, because most who received stimulus funds had low economies.
So for those people, most of the money they get from the government is used to buy daily necessities. It should have been more effective that
the stimulus provided by the government was to buy Bitcoin, so the money could be even more.

Therefore, it is our task that understands Bitcoin to provide education, so that people who receive the stimulus can use it to buy Bitcoin. Although
not sure whether the people receiving the stimulus will understand Bitcoin, because the recipients of the stimulus in my country are usually poor
people with low education.

onooks

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U.S. keep having stimulus after stimulus and the rest of the world covid after covid. 😞

DECABEATZ

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Quote from: Parking_Meater on December 31, 2020, 12:57:42 AM

I spent the $600 usd that I knew was coming on the 20th. Didn't have the balls to spend the 2k because I knew mitch was bending us over.

lol yea he walks like he took a dump in his pants he needs to invest his in toilet paper! hehe

DECABEATZ

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Quote from: Darker45 on December 30, 2020, 10:12:59 PM

Quote from: DECABEATZ on December 30, 2020, 03:45:44 PM

Do i need to ask why you didnt? BTC

Because people are in different situations. Lucky for you, you didn't need that stimulus as much as others that you can invest it somewhere else. But to the rest of the beneficiaries who have lost jobs, business, apartments, and whatnots due to the pandemic will have no other choice but to spend that free money on more basic stuff.

But in terms of putting money into Bitcoin, it shouldn't just be your stimulus. It should include a portion of your savings, salary, income from other sources, and so on. Bitcoin is like wine; it gets better as it ages. Money rots over time.

I DCA every 2 weeks too. I know the potential of Bitcoin and we are not even close to what it will be another 10 years from now!

DECABEATZ

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Quote from: KonstantinosM on December 30, 2020, 04:10:43 PM

Quote from: DECABEATZ on December 30, 2020, 03:45:44 PM

I KNOW I AM! Food for thought - the first Stimulus $1,200 if put into Bitcoin is now worth $4,146 Do i need to ask why you didnt? BTC

If one did, would it be a good idea to be constantly advertising that fact? What if authorities crack down? It's supposed to be stimulus and not take the money and stash it in your own monetary system-ulus.

One could see what we're allegedly doing as immoral. I don't see it that way. Just playing devil's advocate.

they have no control on how we spend our money! plus i dont give a fuck about the government they are crooks.

DECABEATZ

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Quote from: figmentofmyass on December 30, 2020, 05:49:38 PM

Quote from: KonstantinosM on December 30, 2020, 04:10:43 PM

If one did, would it be a good idea to be constantly advertising that fact? What if authorities crack down? It's supposed to be stimulus and not take the money and stash it in your own monetary system-ulus.

i'm sure the government hopes people spend the money on consumer goods and services. that's the whole point of direct stimulus---to stimulate the consumer economy, not to stimulate the hoarding of investment assets or cash.

still, there are no restrictions on what people can spend their stimulus checks on, so why would it matter? there's nothing illegal happening here.

in my case, $600 isn't worth that much thought---that's ~0.02 BTC. shrug. i have no specific plans for it.

they have no control on how we spend our money! plus i dont give a fuck about the government they are crooks.

Crptomagma

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Even the government don’t want any reliability as they expect economic impact from the beneficiaries after they have been granted some arms so with these consciousness i think stimulus should be for those in the less middle class who are still striving for survival.

dansus021

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Quote from: DECABEATZ on December 30, 2020, 03:45:44 PM

I KNOW I AM! Food for thought - the first Stimulus $1,200 if put into Bitcoin is now worth $4,146 Do i need to ask why you didnt? BTC

well US citizen must be proud i have japanese friend that also get stimulus and he buy iPhone 11 Pro Max Grin

but for me who lives in indonesia stimulus for me nope buy some food for entirely family is choice Undecided

passwordnow

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Lucky are they that they have the stimulus to invest in bitcoin. Free money means free bitcoin. And to those that they've made it for the first batch, they sure racked some profits or loving the fact that they all see an increase over time. They could hold it as long as they want and sell whenever they would like to. I have no friends that known to be done that, only have a few friends in the states but saw some people on a crypto group that did it and was happy and proud done that.

dothebeats

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My friends will definitely do. If I am still in the US I’d do the same in a heartbeat. It’s just too good of an opportunity to pass on, plus if I have a job during these hard times, I can definitely just buy and forget that these coins existed on my possession for quite some time. The last one we saw many people buy bitcoins with it, and it’s not far from happening with this stimulus as well.

20kevin20

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Quote from: KonstantinosM on December 30, 2020, 04:10:43 PM

If one did, would it be a good idea to be constantly advertising that fact? What if authorities crack down? It's supposed to be stimulus and not take the money and stash it in your own monetary system-ulus.

Giving your citizens some money and enforcing a specific usage for it sounds scary - pretty close to what a communist party would do. If the gov truly cared about where the money goes, then they'd instead give each citizen a check that can only be used in shops.

But to me, it seems like they only want to pull that recession closer. They don't seem to care about where the stimulus checks go; they care more about pumping more money into circulation ..

pooya87

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Quote from: KonstantinosM on December 30, 2020, 04:10:43 PM

If one did, would it be a good idea to be constantly advertising that fact? What if authorities crack down? It's supposed to be stimulus and not take the money and stash it in your own monetary system-ulus.

One could see what we're allegedly doing as immoral. I don't see it that way. Just playing devil's advocate.

Is it really?
The government printed a shitton of money and handed it out to people to do whatever they want with it. There is no law saying it must only be spent in a certain way and investing it is the wisest thing anybody can do assuming they don't need it to buy groceries, etc. specially when considering how much money they have been printing over the past year and how that will cause inflation.
After all US dollar is already losing its value.

mk4

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Quote from: Lorence.xD on December 30, 2020, 11:33:44 PM

I respect that, but shouldn't this be an opportunity for small amounts to become bigger. If you want to safely park then you might as well just put that money in blue chip stocks because there, there are dividends as long as you are an investor.

It's still an opportunity to grow small amounts of money, if you're looking at the bigger long-term picture.

Now, I'm definitely not against putting money in stocks, but let's not forget that the stock market also has been in a bull run lol. And that not all bluechips distribute dividends, and that dividend cuts happen.

Parking_Meater

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I spent the $600 usd that I knew was coming on the 20th. Didn't have the balls to spend the 2k because I knew mitch was bending us over.

Lorence.xD

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Quote from: Darker45 on December 30, 2020, 11:17:52 PM

Quote from: Lorence.xD on December 30, 2020, 10:52:03 PM

~

"Not that profitable" is way much better than consistently depreciating. That's Bitcoin versus fiat.

Here comes Bitcoin. We're safer with this one. It is volatile, yes. Its price could crash anytime, yes, but it is still generally going up. So even if you are not after the profit, you may still safely park your savings in Bitcoin. Gaining a little is better than losing. Gaining sometimes is better than losing all the time.

I respect that, but shouldn't this be an opportunity for small amounts to become bigger. If you want to safely park then you might as well just put that money in blue chip stocks because there, there are dividends as long as you are an investor.

Darker45

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Quote from: Lorence.xD on December 30, 2020, 10:52:03 PM

Quote from: ?? on ??

Quote from: Lorence.xD on December 30, 2020, 09:28:09 PM

~

Better to dollar cost average then don't buy at all, look at the price of Bitcoin completely getting parabolic. Sure it may come down and have a flash crash. But if you look at the wider picture. Institutional and big companies are coming in. Grayscale invested billions of dollars, billionaire's putting 1% of their portfolio into BTC. Many other people felt they've missed the boat and looking for the opportunity to buy in. Shorting BTC now would be disastrous when price starts to take off.

I do see the bigger picture, but I do not think that we should rely too much on this institutional investors, yes they are pouring in but bitcoin is still inherently volatile so anytime the crash can happen. Also my point is that investing at this time with such a small amount is not that profitable, yes you could get the money back threefold but the highest return is what they should be aiming, it will be good for institutional investors because that threefold could drastically increase their profit. Meaning that if you have a small amount of money, you should strive for more than threefold which bitcoin could do.

"Not that profitable" is way much better than consistently depreciating. That's Bitcoin versus fiat.

When we were kids we were always told to save money. As a matter of fact, special accounts are created by banks for little children in order to instill the value of saving. Their savings are rewarded with a little over 1% of interest per annum. That's still depreciating notwithstanding the interest. A moderate amount of inflation is always around 2%.

Here comes Bitcoin. We're safer with this one. It is volatile, yes. Its price could crash anytime, yes, but it is still generally going up. So even if you are not after the profit, you may still safely park your savings in Bitcoin. Gaining a little is better than losing. Gaining sometimes is better than losing all the time.

Lorence.xD

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Quote from: ?? on ??

Quote from: Lorence.xD on December 30, 2020, 09:28:09 PM

~

Better to dollar cost average then don't buy at all, look at the price of Bitcoin completely getting parabolic. Sure it may come down and have a flash crash. But if you look at the wider picture. Institutional and big companies are coming in. Grayscale invested billions of dollars, billionaire's putting 1% of their portfolio into BTC. Many other people felt they've missed the boat and looking for the opportunity to buy in. Shorting BTC now would be disastrous when price starts to take off.

I do see the bigger picture, but I do not think that we should rely too much on this institutional investors, yes they are pouring in but bitcoin is still inherently volatile so anytime the crash can happen. Also my point is that investing at this time with such a small amount is not that profitable, yes you could get the money back threefold but the highest return is what they should be aiming, it will be good for institutional investors because that threefold could drastically increase their profit. Meaning that if you have a small amount of money, you should strive for more than threefold which bitcoin could do.

mk4

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Quote from: KonstantinosM on December 30, 2020, 04:10:43 PM

If one did, would it be a good idea to be constantly advertising that fact? What if authorities crack down? It's supposed to be stimulus and not take the money and stash it in your own monetary system-ulus.

One could see what we're allegedly doing as immoral. I don't see it that way. Just playing devil's advocate.

At this stage, knowing that the people who buy bitcoin are still a huge minority, you're probably overthinking it a bit. Gonna give it to ya though, sometimes it's good being paranoid. Use the money to buy bitcoin(assuming you don't need money for basic needs) on no-KYC peer-to-peer exchanges so the government doesn't know about your bitcoin purchase.

Quote from: Lorence.xD on December 30, 2020, 09:28:09 PM

At this time of year is not a good timing to buy a bitcoin because the prices are running high. I understand that the 600$ is not a lot but I do not see the profit because this run will not be going on forever. I hope that you can get your profit even at this ATH in the bitcoin prices.

To be fair, people have been saying the same since when we were at around the $15k-$20k range. 🤷‍♂️ The fact is, it's pretty difficult to time the market, so just continue stacking sats if you actually believe that bitcoin rises in price in the long-term.

Darker45

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Quote from: DECABEATZ on December 30, 2020, 03:45:44 PM

Do i need to ask why you didnt? BTC

Because people are in different situations. Lucky for you, you didn't need that stimulus as much as others that you can invest it somewhere else. But to the rest of the beneficiaries who have lost jobs, business, apartments, and whatnots due to the pandemic will have no other choice but to spend that free money on more basic stuff.

But in terms of putting money into Bitcoin, it shouldn't just be your stimulus. It should include a portion of your savings, salary, income from other sources, and so on. Bitcoin is like wine; it gets better as it ages. Money rots over time.

hatshepsut93

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Stimulus was created for broke people. The government doesn't want to check everyone if they really need money or not, it's easier for them to just give money to everyone - and even if they give it to people are doing well financially, they hope that they money will return back to the economy.

Just like with the last time, the number of people who will use their stimulus money to buy Bitcoin will be negligible - most people will use it to deal with their immediate necessities. Also, retail investors are still not jumping the Bitcoin train. No reason to expect that stimulus checks will change anything on this market.

Lorence.xD

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At this time of year is not a good timing to buy a bitcoin because the prices are running high. I understand that the 600$ is not a lot but I do not see the profit because this run will not be going on forever. I hope that you can get your profit even at this ATH in the bitcoin prices. On the other hand, that amount could have helped you subsidize your expenses in goods for daily needs.

figmentofmyass

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Quote from: KonstantinosM on December 30, 2020, 04:10:43 PM

If one did, would it be a good idea to be constantly advertising that fact? What if authorities crack down? It's supposed to be stimulus and not take the money and stash it in your own monetary system-ulus.

i'm sure the government hopes people spend the money on consumer goods and services. that's the whole point of direct stimulus---to stimulate the consumer economy, not to stimulate the hoarding of investment assets or cash.

still, there are no restrictions on what people can spend their stimulus checks on, so why would it matter? there's nothing illegal happening here.

in my case, $600 isn't worth that much thought---that's ~0.02 BTC. shrug. i have no specific plans for it.

KonstantinosM

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Quote from: DECABEATZ on December 30, 2020, 03:45:44 PM

I KNOW I AM! Food for thought - the first Stimulus $1,200 if put into Bitcoin is now worth $4,146 Do i need to ask why you didnt? BTC

If one did, would it be a good idea to be constantly advertising that fact? What if authorities crack down? It's supposed to be stimulus and not take the money and stash it in your own monetary system-ulus.

One could see what we're allegedly doing as immoral. I don't see it that way. Just playing devil's advocate.

DECABEATZ

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I KNOW I AM! Food for thought - the first Stimulus $1,200 if put into Bitcoin is now worth $4,146 Do i need to ask why you didnt? BTC

Topic: Who else is putting their Stimulus into Bitcoin? (Read 546 times)