Feeling a little foolish and weird for spending $150k on a car
12-22-2017, 01:38 AM
#361
I sort of like the idea of the crypto currency thing but confused about some bits of it. For instance, when the rewards for mining run out in 2023 or whatever, where will the computing power to process transactions come from?
12-22-2017, 02:01 PM
#363
Banned
Join Date: Jan 2013
Location: Chicagoland Area
Posts: 26,141
Likes: 0
Received 5,410 Likes
on
2,516 Posts
BitCoins down 1/3 today.
12-22-2017, 02:42 PM
#364
12-22-2017, 04:48 PM
#366
Rennlist Member
Interesting thread and I curiously read every post.
Seems the 2nd greatest thing we all have in common is personal finance, which makes sense as to why this thread has gone from the OP asking about his build to delivery photos and beyond. Every person has a unique way of looking at finances and tolerating risk, the overlaps in all of our personalities and view on personal finances put owning a Porsche near the top, obviously.
Congrats to the OP and I hope you enjoy your 4GTS cab in good health!
Seems the 2nd greatest thing we all have in common is personal finance, which makes sense as to why this thread has gone from the OP asking about his build to delivery photos and beyond. Every person has a unique way of looking at finances and tolerating risk, the overlaps in all of our personalities and view on personal finances put owning a Porsche near the top, obviously.
Congrats to the OP and I hope you enjoy your 4GTS cab in good health!
12-22-2017, 08:30 PM
#367
Depends on whether you bought the dip. 
Most people have already cashed out their initial investments and then some. Even a 1/3 move is pure profits, and you see how quickly everything rebounded. Most likely, into new eventual highs.
And focusing on Bitcoin itself is a mistake. It’s a pretty weak crypto. What’s driving it at this point is really the brand recognition.
Most people have already cashed out their initial investments and then some. Even a 1/3 move is pure profits, and you see how quickly everything rebounded. Most likely, into new eventual highs.
And focusing on Bitcoin itself is a mistake. It’s a pretty weak crypto. What’s driving it at this point is really the brand recognition.
12-22-2017, 10:00 PM
#368
Banned
Depends on whether you bought the dip.
Most people have already cashed out their initial investments and then some. Even a 1/3 move is pure profits, and you see how quickly everything rebounded. Most likely, into new eventual highs.
And focusing on Bitcoin itself is a mistake. It’s a pretty weak crypto. What’s driving it at this point is really the brand recognition.
12-22-2017, 10:09 PM
#369
People are going to make money on it. No doubt. Its basiclly a trading platform. What I'm concerned about is its substance. It has none. It isnt a credible currency that governments are going to acknowledge ever. Simply because there is no military backing. Where there is no military there is no currency. The moment it comes under attack by any government. It will collapse like a house of card.
I look at this in simple terms. Look at every other industry. The richest companies have nothing tangible, and everyone is chasing that approach. Everything in the cloud, everything homogenized through geographies. Go to France, they use the same tech we do, listen to the same music for the most part, etc. Currency will eventually follow. Currencies that aren't divided by nation, ending the archaic "one currency per country" rule, etc. Think of it as currency following the general theme of how technology affects every other industry. Credit cards already started this, to a degree. Do you still carry cash? Most younger people don't (I myself never carry cash). Using Bitcoins or whatever to buy stuff won't really change much for me, since everything I do financially is on the cloud anyways, as with most people.
12-22-2017, 10:26 PM
#370
Banned
Maybe, maybe not. So far the market has proven resilient to everything. China even BANNED ICO's and crypto, which sent the markets tanking months back, only to come back. If China can't stop it through government intervention, seems lots of people are betting they'll eventually want in, and regulate it (regulation is good for crypto, despite what some of the crypto anti-government-everything conspiracy theorists buy it for. It isn't going anywhere without eventual regulation).
I look at this in simple terms. Look at every other industry. The richest companies have nothing tangible, and everyone is chasing that approach. Everything in the cloud, everything homogenized through geographies. Go to France, they use the same tech we do, listen to the same music for the most part, etc. Currency will eventually follow. Currencies that aren't divided by nation, ending the archaic "one currency per country" rule, etc. Think of it as currency following the general theme of how technology affects every other industry. Credit cards already started this, to a degree. Do you still carry cash? Most younger people don't (I myself never carry cash). Using Bitcoins or whatever to buy stuff won't really change much for me, since everything I do financially is on the cloud anyways, as with most people.
I look at this in simple terms. Look at every other industry. The richest companies have nothing tangible, and everyone is chasing that approach. Everything in the cloud, everything homogenized through geographies. Go to France, they use the same tech we do, listen to the same music for the most part, etc. Currency will eventually follow. Currencies that aren't divided by nation, ending the archaic "one currency per country" rule, etc. Think of it as currency following the general theme of how technology affects every other industry. Credit cards already started this, to a degree. Do you still carry cash? Most younger people don't (I myself never carry cash). Using Bitcoins or whatever to buy stuff won't really change much for me, since everything I do financially is on the cloud anyways, as with most people.
You dont have to educate me on the power of banks. I live less than a mile from Mastercard headquarters.
Bitcoin is a great idea. The part that is great is the chainblock tech. Why do I say that? Simple. Its because of its power to cut out the middle man. Like MasterCard. Do you realize that MC along with others. Charges a transaction free for every movement of money done electronically?
Well just imagine if this tech is adopted by governments. It will be one day. There will be no need for banks other than loans. It will simply kill the banking institutions. That is where its power is.
As far a bitcoin as a currency is concerned. Read my last post above.
12-22-2017, 10:44 PM
#371
Burning Brakes
Thread Starter
I was going to suggest that the bitcoin stuff move into its own thread in the off-topic area, but near as I can tell there isn't an off-topic area. At least, not for this sort of discussion.
There are lots of good reasons why Bitcoin and the various home-grown cryptocurrencies are absolutely terrible currencies, but I'd just as soon not feed the topic drift.
There are lots of good reasons why Bitcoin and the various home-grown cryptocurrencies are absolutely terrible currencies, but I'd just as soon not feed the topic drift.
12-23-2017, 12:55 AM
#372
I was going to suggest that the bitcoin stuff move into its own thread in the off-topic area, but near as I can tell there isn't an off-topic area. At least, not for this sort of discussion.
There are lots of good reasons why Bitcoin and the various home-grown cryptocurrencies are absolutely terrible currencies, but I'd just as soon not feed the topic drift.
There are lots of good reasons why Bitcoin and the various home-grown cryptocurrencies are absolutely terrible currencies, but I'd just as soon not feed the topic drift.
12-23-2017, 08:28 AM
#373
Track Day
Join Date: May 2017
Location: Bethesda, Md.
Posts: 16
Likes: 0
Received 0 Likes
on
0 Posts
Re. OP and "feeling a little foolish," my rationalization for buying the most expensive car I've ever owned touched many of those stated above - liquidity, no other debt, durable cash flow, can't take it with you, using it for its intended purpose (DD + track) and the outlay did not affect my standard of living one iota. Wife still "fought" me though bcz neither of us were brought up to conspicuously consume (but she drives a MB, so there goes that argument). So, for me I don't feel foolish spending the money, but I do get self conscious sometimes when all the other sheet metal around me costs less than half of my car.
12-23-2017, 09:06 AM
#374
and the outlay did not affect my standard of living one iota. Wife still "fought" me though bcz neither of us were brought up to conspicuously consume (but she drives a MB, so there goes that argument). So, for me I don't feel foolish spending the money, but I do get self conscious sometimes when all the other sheet metal around me costs less than half of my car.
12-23-2017, 09:23 AM
#375
Rennlist Member
Re. OP and "feeling a little foolish," my rationalization for buying the most expensive car I've ever owned touched many of those stated above - liquidity, no other debt, durable cash flow, can't take it with you, using it for its intended purpose (DD + track) and the outlay did not affect my standard of living one iota. Wife still "fought" me though bcz neither of us were brought up to conspicuously consume (but she drives a MB, so there goes that argument). So, for me I don't feel foolish spending the money, but I do get self conscious sometimes when all the other sheet metal around me costs less than half of my car.