You don't need gimmicks to win, what's a bitcoin anyways?

The bitcoin appears to be some sort of opportunity or bubble or something. 

But I really have no idea what it is.  And until I reach Financial Independence I really have no business looking into it.

jlcollinshnh over at his website has a post entitled The Market Always Goes Up.  So I go to work for minimum wage and buy whatever DRIP plans I can.  That plan I understand.  That plan I can follow.  Do not get distracted by the gimmicky gambles.  The bitcoin could go to a million tomorrow and I'll be okay. 

Back before the 2009 market collapse I remember seeing these ads on how easy it is to buy and flip houses.  Now I'm seeing all kinds of bitcoin ads on how easy it is to buy bitcoins and sell later when they increase in price.  Perhaps I'll lose some money by not gambling on something I know nothing about, but its better than losing sleep on it. 

Comments

Post a Comment

Popular posts from this blog

College Won't Give You a Good Paying Job

My mother always said that I needed to go to college to get a good paying job.  My father said that he wouldn't give me a dime to go to college. It was the next mandatory task that I was supposed to do.  I had a meeting with my guidance counselor and the dean of admissions of an in state private school.  They promised me that if I went to their college and graduated that I would be able to get out of poverty.  That just by graduating the college would give me a good paying job in my chosen career field.  And due to my many scholarships, including a full ride, the college costs would be covered. But it was a lie.  The college took my scholarship money and never applied it to me.  The college didn't teach me what I wanted to learn.  The college never gave me a job.  All the college does for me is to call me up and ask for donations.  That is reality. They are there to make a profit off of you, because they think young people without their crap together is the easiest prey.
Read more

People Who Win the Lottery End up Broke

I've heard that a significant percentage of people who win the lottery end up bankrupt. They simply did not have what it takes to handle the wealth that they were hoping to get. What brings these people down?  Is it a bad attitude that brings these people down?  Is it a lack of resources other than finances?  Is it a lack of a support system?  I don't have the answers, but I do see this as a  serious and important question. This is important because we have all won lotteries.   I've won the time lottery, this being the greatest time in the history of earth to be alive. I've won the genetic lottery, because clearly I'm smarter than the loser who passed me driving down the road this morning. I've won the country lottery, having been born in a country that other people risked life and limb to get to. I've won the physical health lottery, because I can still walk, talk, and take action. Despite all this?  I'm becoming bankrupt in hea
Read more

Helping a Friend Move Out

I've been trying to help a friend move out of his house today. Originally he just wanted his clothes and his pictures, but the pictures are optional because as he puts it, "They just represent memories, and memories are in the past." Yet the more we clean the more he tries to convince me to keep his junk.  "Hey, keep this 30 year old hot wheels car, and hey this unopened sports cards are definitely worth a lot!" Looked up that stuff on Ebay and they are worth far less then he thinks. Lucky he has me to throw stuff away as I'm going through his stuff, because the sentimental value has increased to the max. What is sentimental value? Well basically stuff gets more valuable to you the longer you have owned it.  Therefore after you've owned something for so long it becomes your most valuable thing financially, and you can't get rid of it on your own. The chains of sentimental value are real, and prevent many people from experiencing freedom
Read more