Bitcoin
- Thread starter Fun For All
- Start date
It may seem unreasonable, but, when I see a guy like CHASE into it I can't help to be untrustworthy of it.
I think Bitcoin is a high-risk high-reward thing...I think if you can get out after making a big profit before disaster strikes than it would be a success.
But I'm kinda with you, I'm not into the risk...
So much noise. So much interference. Can you filter it out?
“ MORGAN STANLEY BECOMES THE FIRST BIG U.S. BANK TO OFFER ITS WEALTHY CLIENTS ACCESS TO BITCOIN FUNDS- CNBC”
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Based on HODL Waves, this #Bitcoin Bull Run is equivalent to $4,000 in 2017.
This would entail another 5x, or roughly $300,000 peak.
“
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How much you would now have if you had bought $1,000 worth of #Bitcoin on this date in:
2020: $10,680
2019: $13,930
2018: $6,900
2017: $54,340
2016: $132,720
2015: $204,940
2014: $89,590
2013: $1,112,220
2012: $11,135,170
2011: $71,860,240
2010: $589,569,000
“ MORGAN STANLEY BECOMES THE FIRST BIG U.S. BANK TO OFFER ITS WEALTHY CLIENTS ACCESS TO BITCOIN FUNDS- CNBC”
“
Based on HODL Waves, this #Bitcoin Bull Run is equivalent to $4,000 in 2017.
This would entail another 5x, or roughly $300,000 peak.
“
“
How much you would now have if you had bought $1,000 worth of #Bitcoin on this date in:
2020: $10,680
2019: $13,930
2018: $6,900
2017: $54,340
2016: $132,720
2015: $204,940
2014: $89,590
2013: $1,112,220
2012: $11,135,170
2011: $71,860,240
2010: $589,569,000
Bitcoin is the Leolist of investing
Be prepared to lose all of your money
It is neither an asset or a currency - it is an instrument - governments could regulate it to zero. The one value is as a digital medium of exchange. That's it.
You may get lucky, but plan your exit strategy.
One new piece of information is that environmentally it is a disaster - the mining uses massive amounts of energy. So that would limit SRI (socially responsible investing).
Be prepared to lose all of your money
It is neither an asset or a currency - it is an instrument - governments could regulate it to zero. The one value is as a digital medium of exchange. That's it.
You may get lucky, but plan your exit strategy.
One new piece of information is that environmentally it is a disaster - the mining uses massive amounts of energy. So that would limit SRI (socially responsible investing).
Bitcoin’s Energy Consumption Is A Highly Charged Debate – Who’s Right?
Detractors claim the bitcoin mining industry is enormously energy-intensive and damaging. Supporters contend that bitcoin’s Proof of Work public consensus mechanism, which facilitates the conversion of energy to hashes, is a work of unparalleled genius. So, who’s right?
www.forbes.com
You need to take a serious look at what its doing for third world nations. And govts aren't banning it. Some are buying it as an inflation hedge for pension funds. And the Wall St big boys are getting their toes in now.
No, it shouldn't. Its an untapped underserviced market for banking alone. There are more people with Crpyto wallets per capita than anywhere else. Its already being used as currency there. And in other third world nations with unstable currency.
Btw New Zealand just bought a shitload for their retirement funding. And the big Wall St guys are now getting in.
Im pretty sure you don't understand the various applications. Everythjng from currency, to supply managenent to record keeping and more that various crypto can do. Which is fine, im building a steady stake now at ground level on a few. Ypu can come in in a few years to pump the price for me.
Confusing blockchain with bitcoin. Blockchain can be used for all those things. Bitcoin is just one application of a blockchain. The two are totally different things. Blockchain is being used for a lot of things right now. There are items in your local grocery store that can be traced using blockchain. But that's certainly different than bitcoin.
In a more general sense...
(1) a bitcoin cannot be counterfeited
(2) the mathematics is such that there can only ever be 21 million found/mined/in existence
(3) a lot of the bitcoins that already exist are lost, and can never be found - once the key is lost the coin is lost forever - anyway the supply is limited
(4) hockey cards and old coins, old stamps - they have value because they are scarce, limited in supply, and there are willing buyers and sellers, so they have value. Same with bitcoin - who cares if it's an asset, a currency, or what
(5) People with serious money think that bitcoin has value, as do a lot of people without serious money
(6) There are a lot of handy things about bitcoin, currency-like uses, store-of-value like uses, legal and illegal uses...etc.
(7) the value has been all over the map, don't know if there has ever been any other asset that has been up and down so much, and in the end, to date, is so valuable. Considering that when it got started it was worth a fraction of a penny. And recently has been over $60,000. No stock has ever done that.
So, volatile, yes. But with enduring value? I think so. I don't own any, but certainly regret that. When I first looked at buying bitcoin they were in the hundreds of dollars. So yep, wish I had. At current prices...probably not. Just admit the ship has sailed and live my life without.
(1) a bitcoin cannot be counterfeited
(2) the mathematics is such that there can only ever be 21 million found/mined/in existence
(3) a lot of the bitcoins that already exist are lost, and can never be found - once the key is lost the coin is lost forever - anyway the supply is limited
(4) hockey cards and old coins, old stamps - they have value because they are scarce, limited in supply, and there are willing buyers and sellers, so they have value. Same with bitcoin - who cares if it's an asset, a currency, or what
(5) People with serious money think that bitcoin has value, as do a lot of people without serious money
(6) There are a lot of handy things about bitcoin, currency-like uses, store-of-value like uses, legal and illegal uses...etc.
(7) the value has been all over the map, don't know if there has ever been any other asset that has been up and down so much, and in the end, to date, is so valuable. Considering that when it got started it was worth a fraction of a penny. And recently has been over $60,000. No stock has ever done that.
So, volatile, yes. But with enduring value? I think so. I don't own any, but certainly regret that. When I first looked at buying bitcoin they were in the hundreds of dollars. So yep, wish I had. At current prices...probably not. Just admit the ship has sailed and live my life without.
Can I save and refer to this post in a few years when it goes to 1,000,000+ ?
The ship has not sailed yet. There is a point where all the dominoes start toppling and many people and companies start switching. Just think about how many people and companies own bitcoin now. Just get like $100 or $500 or $1000. You will not regret it in 5 to 10 years.
Believe it or not we are still early IMO. The ship is still here and the lower decks are still available.
He didn't eat his dick:
The people who are shitting on cypto who are well versed in tradition investment vehicles are only this way because they don't understand it.
However, bitcoin is not as good compared to other cryptos like Monero.
It's new and an appropriate response to those criticizing it is "ok boomer".
Dumb-asses claim it's a pyramid scheme. No one individual held accountable. But trust isn't necessary with cryptography, the math is whats liable.
The math doesn't need to be trusted because it can be proven, and not beyond a reasonable doubt like in law.
If you're really interested you probably will need to take an undergraduate math program with a focus cyrptography and really understand proofs.
en.wikipedia.org
Here is a video for those open minded and willing to learn how it works, before rejecting it completely.
The people who are shitting on cypto who are well versed in tradition investment vehicles are only this way because they don't understand it.
However, bitcoin is not as good compared to other cryptos like Monero.
It's new and an appropriate response to those criticizing it is "ok boomer".
Dumb-asses claim it's a pyramid scheme. No one individual held accountable. But trust isn't necessary with cryptography, the math is whats liable.
The math doesn't need to be trusted because it can be proven, and not beyond a reasonable doubt like in law.
If you're really interested you probably will need to take an undergraduate math program with a focus cyrptography and really understand proofs.
Zero-knowledge proof - Wikipedia
en.wikipedia.org
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This is me now... I've thrown in a smaller amount just to see what happens. I can't see myself putting any more thank $10K into it though. I just don't understand it.
Sorry I was indeed speaking in the more general sense of Crypto trading. I have beginning positions in Cardano and VeChain, and have bought in some Bitcoin as well. I'm going for buy and hold at least five years. And will add a few more hopefully.
