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Posted: 2/24/2021 2:14:33 PM EDT
[#1]
Never took time to look into it. So, indifferent to it.
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Posted: 2/24/2021 2:14:36 PM EDT
[#2]
Not me, I've already thrown away enough money gambling with stocks.
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Posted: 2/24/2021 2:16:03 PM EDT
[#3]
I dont know enough about it.
I dont care enough to learn. I dont give a fuck about shit. |
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Posted: 2/24/2021 2:19:03 PM EDT
[#4]
I don’t own any. I don’t see why people choose to hedge in that as opposed to hard assets like real estate, gold/silver/jewels, or speculative ones like foreign currencies.
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Posted: 2/24/2021 2:23:12 PM EDT
[#5]
Quote HistoryQuoted: I don’t own any. I don’t see why people choose to hedge in that as opposed to hard assets like real estate, gold/silver/jewels, or speculative ones like foreign currencies. Don't have enough $$ to buy real estate Don't want to buy, store, and then figure out how to sell gold/silver/jewels No time for speculative trading nor do I have a clue about it. I'm playing with my 2021 ammo fund $$. Trying to make some more play $$ to upgrade to bino nods. |
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Posted: 2/24/2021 2:27:20 PM EDT
[#6]
Quote HistoryQuoted: Not me, I've already thrown away enough money gambling with stocks. You have to assess your risk and the time frames you want to devote to your assets. If you're buying solely because it's a rocket ship NOW, you'll lose on the fallout. If you buy because it's beaten down but has strong fundamentals, you might start winning. Dollar cost averaging into such investments is also wise. That way you aren't trying to time the market with absolutes in one fell swoop (nearly, impossible). Never go all in at once. Leave money on the table for future buys. It's ok to take profits. It's ok to restructure your portfolio, even on a "BAD" day. It's ok to not get it right 100% of the time. Getting rich tomorrow isn't easy or even likely, but using a system of philosophies that fit your strategy, goals, and propensity for risk will, more often than not, prove successful in the long-term. The key is to remain CONSISTENT over a long enough time period to see the seeds you plant turn into the harvest. By all means, you can gamble in any market, but that isn't typically a winning strategy unless you're a professional gambler and those that educate themselves and always remain consistent no matter what they're facing will always have a leg up on those that don't. 
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Posted: 2/24/2021 6:26:04 PM EDT
[#7]
Quote HistoryQuoted: @Bale2011 I see people who OWN crypto ask the same questions as you all over the internet. Out of curiosity - If btc went down to 3k tomorrow what would you post in reply to something like "this thread did not age well" ?? @HecklerKac I may not be understanding your question, but I don’t have an amount in Crypto that I’m not willing to lose. |
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Posted: 2/24/2021 6:36:06 PM EDT
[#8]
Quote HistoryQuoted: Me too. I've been struggling to find a way to invest in Bitcoin without buying Bitcoin, besides stocks ETF's etc. Although I absolutely buy as much Bitcoin as I can. My Father used to say - "Don't be one the guys digging for gold, be the guy selling shovels"  Quote HistoryQuoted: Quoted: I've been considering getting involved with BTC ATMs. How's the ROI? Even my shithole town of poors now has a BTC ATM. It's wild to see.Me too. I've been struggling to find a way to invest in Bitcoin without buying Bitcoin, besides stocks ETF's etc. Although I absolutely buy as much Bitcoin as I can. My Father used to say - "Don't be one the guys digging for gold, be the guy selling shovels" You could invest in the Grayscale Bitcoin Fund. |
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Posted: 2/24/2021 6:50:43 PM EDT
[#9]
I am interested in crypto. I check prices every day. I think it can stick around and change the world, really. But I do not have any for the following reasons
1. I do not understand the technicals of how it works 2. I do not see why it is valuable. 3. Because of #1 and #2, I wouldn’t have enough confidence to buy enough to make a difference in my standard of living anyway. If I had some and it tanked, I wouldn’t have confidence to hold, like I would hold a good stock I believed in. 4. From what I do understand, it is not suitable for day to day transactions. 5. Yes, Bitcoin is “limited” in supply. There will only ever be 21 million bitcoin. But there are an infinite number of other potential cryptocurrencies. So the scarcity argument really doesn’t make sense to me. Again, not criticizing anyone who is into it. Anything that can break government control of finance is potentially a very positive thing in my view. But I’m watching from the sidelines at this point. |
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Posted: 2/24/2021 6:53:30 PM EDT
[#10]
I dumped my huge
 position of .09846 BTC on 2/20.Will prolly buy something again sometime . Probably BTC/ETH, or if im feeling lucky XLM. lol |
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Posted: 2/24/2021 7:05:37 PM EDT
[#11]
Quote HistoryQuoted: 1) I don’t get it 2) I figured when shit kicks off (localized or global) there’s not going to be any reliable grid for anyone to be doing computing on anyway. The grid is always a tier one target. It will be attacked any chance the enemy gets, whoever that may be. Better to have things in hand. If SHTF here, your going to be a warlord if you have bullets, booze, & metals. Old guy thinking? Maybe.  This was my opinion for a long time. I started casually paying attention to bitcoin when a dude had a pizza delivered back in 2009ish for something like 10,000 Bitcoin. I thought that was wild, and believed it was too vulnerable to hacking and government. Your mutual funds and 401k are just as vulnerable in most ways, but not all. I would treat Bitcoin/crypto as a 3rd or 4th hedge. 1. Real-estate 2. Mutual funds 3. Physical goods (guns,ammo,food, silver, gold) 4. Crypto Cash is always subject to inflation, so it’s a bad investment. Up to you how to determine a wisely distributed portfolio. |
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Posted: 2/24/2021 7:06:56 PM EDT
[#12]
Quote HistoryQuoted: poors. poors are not into crypto. I dont think this is true at all. Its not like you have to buy BTC in 1 coin increments. You can just buy a faction. like .001. To make math easy - at 50k, that i just $50 + fees |
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Posted: 2/24/2021 7:11:36 PM EDT
[#13]
Quote HistoryQuoted: How do you pull it out and use it if you want to make a major purchase (i.e. car or house)? Quote HistoryQuoted: Quoted: Wrong. It's a new technology which has tremendous value. Triple entry digital accounting with no middle man. Digital assets which can be made scarce and which can't be counterfeit. The security of the network is what backs it's value. If people didn't have faith in the security of this digital network then it would have a value of 0. So far the tech has seen a single digital token go for 58,000 dollars. This is despite forks, competing tokens, attacks, nation banning, early trading disruptions, etc. It has proven it's resilience. That's allot of faith and it's evidence that people worldwide believe it to be more secure than the value of the U.S. dollar and/or their local currencies. How do you pull it out and use it if you want to make a major purchase (i.e. car or house)? You convert it to USD on a banked exchange like coinbase etc and wait a day or 2 This is like asking.. how to i convert my 1000 shares TSLA stock so that i can but a house? Same thing |
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Posted: 2/24/2021 7:14:15 PM EDT
[#14]
Quote HistoryQuoted: The pro seems to want me to upload a photo of my ID? What's up with that? Quote HistoryQuoted: Quoted: Quoted: Quoted: Quoted: This. I've been interested in it for a while, but haven't spent the time to learn how to get into it. It's as easy as creating a profile / registering on coinbase, binance, etc. Just made a CoinBase account, thanks! @Real_PhilBert Here’s a tip for you. When you transfer funds to Coinbase the first time, transfer them instead to Coinbase Pro. Your trading fees will be lower. When you sign up for Coinbase you automatically get a Pro account. No extra charge and your login credentials are the same.  The pro seems to want me to upload a photo of my ID? What's up with that? They are a banked exchange. They want that to comply with the know your customer - and other - regs |
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Posted: 2/24/2021 7:17:48 PM EDT
[#15]
Matter of distrust. I barely trust the government's printed currency as they can devalue it at any time. Ever since the government got away from the gold standard, the only thing backing up the US currency is the people's trust in the value of the currency.
With crypto currency, there is even less backing it up. If the computer system goes belly up, gets hacked or for whatever other reason your account gets deleted or lost, you would have a hell of a time trying to prove that you are owed X dollars...and owed by whom exactly? And how would anyone access their crypto currency if the web goes down? You sure can't go to the cryptocurrency local office because THERE ISN'T ONE. |
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Posted: 2/24/2021 7:22:37 PM EDT
[#16]
I have no idea what it is nor do i care
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Posted: 2/24/2021 7:24:06 PM EDT
[#17]
Quote HistoryQuoted: I have no idea what it is nor do i care You will. |
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Posted: 2/24/2021 7:24:17 PM EDT
[#18]
No, because I can’t wrap my head around the concept.
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Posted: 2/24/2021 7:34:04 PM EDT
[#19]
Quote HistoryQuoted: Not me, I've already thrown away enough money gambling with stocks. If you can't make an asset class with more than a century of positive long term returns work for you then I agree that crypto will not treat you any better.
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Posted: 2/24/2021 7:38:55 PM EDT
[#20]
Quote HistoryQuoted: I am interested in crypto. I check prices every day. I think it can stick around and change the world, really. But I do not have any for the following reasons 1. I do not understand the technicals of how it works 2. I do not see why it is valuable. 3. Because of #1 and #2, I wouldn’t have enough confidence to buy enough to make a difference in my standard of living anyway. If I had some and it tanked, I wouldn’t have confidence to hold, like I would hold a good stock I believed in. 4. From what I do understand, it is not suitable for day to day transactions. 5. Yes, Bitcoin is “limited” in supply. There will only ever be 21 million bitcoin. But there are an infinite number of other potential cryptocurrencies. So the scarcity argument really doesn’t make sense to me. Again, not criticizing anyone who is into it. Anything that can break government control of finance is potentially a very positive thing in my view. But I’m watching from the sidelines at this point. Both Gold and USD operate on scarcity as odd as that may sound for the latter. Gold is scarce because of a physical constraint and the Federal Reserve exists to control the degree of scarcity for the USD. There are alternatives to Gold and USD as well. Gold isn't the only precious metal and USD isn't the only government fiat currency with relatively stable value. What you say about Bitcoin is true but that doesn't make it any different than these other things on that point alone. I'm only responding to the part in bold. |
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Posted: 2/24/2021 7:40:48 PM EDT
[#21]
I almost jumped in on bitcoin at the beginning when it was fairly cheap.
I wish I had now, but wishes are something something or something like that. No, I don't do cryptocurrency. |
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Posted: 2/24/2021 7:44:53 PM EDT
[#22]
Quote HistoryQuoted: Matter of distrust. I barely trust the government's printed currency as they can devalue it at any time. Ever since the government got away from the gold standard, the only thing backing up the US currency is the people's trust in the value of the currency. With crypto currency, there is even less backing it up. If the computer system goes belly up, gets hacked or for whatever other reason your account gets deleted or lost, you would have a hell of a time trying to prove that you are owed X dollars...and owed by whom exactly? And how would anyone access their crypto currency if the web goes down? You sure can't go to the cryptocurrency local office because THERE ISN'T ONE. Most of what you are describing is a feature, not a defect. Decentralized cryptocurrencies are compelling because they are mostly immutable and irreversible. Governments can choose to print more currency but nobody gets to dictate the rate of BTC issuance at thus point. For better or worse it more or less is what it is short of a network wide consensus to change it. As far as the power going out or the web going down, so what? There is no risk free asset class in existence and the requirement for a network connections is one of Bitcoin's potential sources of risk. You shouldn't have all your eggs in ANY single basket whether we are talking cash, bitcoin, real estate, equities, bonds, or ammo. |
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Posted: 2/24/2021 7:47:15 PM EDT
[#23]
Quote HistoryQuoted: Both Gold and USD operate on scarcity as odd as that may sound for the latter. Gold is scarce because of a physical constraint and the Federal Reserve exists to control the degree of scarcity for the USD. There are alternatives to Gold and USD as well. Gold isn't the only precious metal and USD isn't the only government fiat currency with relatively stable value. What you say about Bitcoin is true but that doesn't make it any different than these other things on that point alone. I'm only responding to the part in bold. Interesting point. Hadn’t thought about it like that before. |
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Posted: 2/24/2021 8:04:20 PM EDT
[#24]
Why is BTC worth $50k, and not $20k? I have no idea other than there are a bunch of trend followers jumping on. It's all fun and games on the way up, but there is no backstop on the way down.
Think about this for a second - What are characteristics of a currency? Acceptance and reasonably stable value are high on my list. BTC is gaining acceptance, but the value is the inverse of stable, so it isn't a currency. It also has no physical uses and it doesn't produce any profits nor does it have any chance of doing so. At this point in history investing in BTC is the very definition of the "greater fool" theory of investing. You buy it hoping some other fool is more foolish than you and will bid up the price even higher. That's speculation pure and simple. There's a place for speculation, but let's not kid ourselves into thinking just because it has the word "currency" in it that it isn't speculation. |
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Posted: 2/24/2021 8:08:47 PM EDT
[#25]
Quote HistoryQuoted: These things are supposed to be currencies, Not really. There's almost zero effort to make them into usable currency. It's about unregulated trading. |
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Posted: 2/24/2021 8:10:12 PM EDT
[#26]
Quote HistoryQuoted: I came here for the “I don’t want muh money to be a bunch of 0’s and 1’s, you need a real currency like the USD” posts. That's a pretty tired straw man. |
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Posted: 2/24/2021 9:04:43 PM EDT
[#27]
Quote HistoryQuoted: Maybe I should, but I don't give a fuck about that shit. |
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Posted: 2/24/2021 9:06:43 PM EDT
[#28]
Quote HistoryQuoted: Why is BTC worth $50k, and not $20k? I have no idea other than there are a bunch of trend followers jumping on. It's all fun and games on the way up, but there is no backstop on the way down. Think about this for a second - What are characteristics of a currency? Acceptance and reasonably stable value are high on my list. BTC is gaining acceptance, but the value is the inverse of stable, so it isn't a currency. It also has no physical uses and it doesn't produce any profits nor does it have any chance of doing so. At this point in history investing in BTC is the very definition of the "greater fool" theory of investing. You buy it hoping some other fool is more foolish than you and will bid up the price even higher. That's speculation pure and simple. There's a place for speculation, but let's not kid ourselves into thinking just because it has the word "currency" in it that it isn't speculation. Why would I want to convert back to dollars just to pay capital gains taxes? I'm no fool! |
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Posted: 2/24/2021 9:18:17 PM EDT
[#29]
Quote HistoryQuoted: It's as easy as creating a profile / registering on coinbase, binance, etc. Coinbase is easy as long as you only want to buy stable established crypto. Kraken, Binance, etc. ??? Sure, registering is easy, but the path to get those up, funded and trading is extremely crude, slow and nonsensical. People I know have been waiting for "account verification" for literally WEEKS now, with no end in sight. That kind of crap does NOT inspire any kind of confidence in their systems. If it is that hard to put money IN, how hard will it be when it comes time to draw OUT?? |
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Posted: 2/24/2021 9:21:17 PM EDT
[#30]
I don't know much about it.
Seems like you would spend more in electricity than you would on a return. ?maybe? I like the idea and concept of it. |
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Posted: 2/24/2021 9:21:46 PM EDT
[#31]
Quote HistoryQuoted: It requires more faith than the US dollar, which I have no faith in anymore. |
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Posted: 2/24/2021 9:27:47 PM EDT
[#32]
Quote HistoryQuoted: Quote HistoryQuoted: Quoted: It requires more faith than the US dollar, which I have no faith in anymore. If that's the case, what are you really scared of losing? It's all already lost anyways with that mindset. 
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Posted: 2/24/2021 9:38:59 PM EDT
[#33]
Quote HistoryQuote HistoryQuoted: Quoted: Quoted: I've been considering getting involved with BTC ATMs. How's the ROI? Even my shithole town of poors now has a BTC ATM. It's wild to see.Me too. I've been struggling to find a way to invest in Bitcoin without buying Bitcoin, besides stocks ETF's etc. Although I absolutely buy as much Bitcoin as I can. My Father used to say - "Don't be one the guys digging for gold, be the guy selling shovels" You could invest in the Grayscale Bitcoin Fund. ETF BLOK has a lot of exposure to Bitcoin and the cryptocurrency space. |
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Posted: 2/24/2021 9:43:33 PM EDT
[#34]
Quote HistoryQuoted: Why is BTC worth $50k, and not $20k? I have no idea other than there are a bunch of trend followers jumping on. It's all fun and games on the way up, but there is no backstop on the way down. Price and volatility in dollars is due to market cap and price discovery. The volatility will subside when the market cap is higher, much higher, like the amount of gold higher. That’s about 12 trillion dollars. So 12x from here. Bitcoin will be about half a million then. The back stop is called a stop loss, just like a stop loss your use for stocks. |
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Posted: 2/24/2021 9:47:10 PM EDT
[#35]
Quote HistoryQuoted: Why would I want to convert back to dollars just to pay capital gains taxes? I'm no fool! Is the purpose to acquire more nice shiny BTCs and put them in your bathtub like Scrooge McDuck and bathe in them, or is it with the hope you can acquire stuff with your investment? Do you pay for that stuff based on how many BTC it’s worth, or do you pay with BTC based on how BTC compares to the $? There’s your answer. It’s a speculative investment, not a currency. |
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Posted: 2/24/2021 9:50:33 PM EDT
[#36]
Quote HistoryQuoted: Coinbase is easy as long as you only want to buy stable established crypto. Kraken, Binance, etc. ??? Sure, registering is easy, but the path to get those up, funded and trading is extremely crude, slow and nonsensical. People I know have been waiting for "account verification" for literally WEEKS now, with no end in sight. That kind of crap does NOT inspire any kind of confidence in their systems. If it is that hard to put money IN, how hard will it be when it comes time to draw OUT?? Yes binance US fiat verification is slow but I have had no problems with withdrawals of both fiat and crypto. In the meantime you can purchase btc from coinbase and transfer to your binance wallet. Purchase the ???/btc trading pair coin you want. You can always sell it on binance for btc then transfer back to coinbase and sell for usd. Fees aren't that bad. When you could use binance overseas as a US based trader the verification process was almost instant. |
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Posted: 2/24/2021 9:54:37 PM EDT
[#37]
Quote HistoryQuoted: I've been considering getting involved with BTC ATMs. How's the ROI? Even my shithole town of poors now has a BTC ATM. It's wild to see.On the tech side they are pretty simple little kiosks. Bolted down like a regular atm with all the security features of a regular atm. Pretty trouble free once you get them up and running. Some basic maintenance every now and then which involves emptying the bill hopper. Not sure about the roi. I'm just a tech. Not involved in the admin side. |
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Posted: 2/24/2021 10:10:48 PM EDT
[#38]
Quote HistoryQuoted: Yes binance US fiat verification is slow but I have had no problems with withdrawals of both fiat and crypto. In the meantime you can purchase btc from coinbase and transfer to your binance wallet. Purchase the ???/btc trading pair coin you want. You can always sell it on binance for btc then transfer back to coinbase and sell for usd. Fees aren't that bad. When you could use binance overseas as a US based trader the verification process was almost instant. Yes, that is exactly my point. That kind of "first you buy this, then transfer to that, then buy something, then transfer back..." hackiness is REALLY off-putting for all but the most fanatical, and makes those platforms seem untrustworthy to anyone used to dealing with anything even approximating normal financial systems. I'm set and I understand it, but try to explain all that to someone who isn't a crypto-hobbyist, and 99 times out of 100 they're going to balk at buying in, thinking its something sketch and illegal. Limited as it is, CoinBase is the only realistic option for normal people. Getting back to the OP's question -- my opinion is that given just 1 viable platform for anyone who doesn't want to make crypto their FT job, Crypto is just not ready for the masses yet. And by the time it is, I think it likely that the real moneymaking opportunities will have long passed. |
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Posted: 2/24/2021 10:12:12 PM EDT
[#39]
Quote HistoryQuoted: Is the purpose to acquire more nice shiny BTCs and put them in your bathtub like Scrooge McDuck and bathe in them, or is it with the hope you can acquire stuff with your investment? Do you pay for that stuff based on how many BTC it’s worth, or do you pay with BTC based on how BTC compares to the $? There’s your answer. It’s a speculative investment, not a currency. Quote HistoryQuoted: Quoted: Why would I want to convert back to dollars just to pay capital gains taxes? I'm no fool! Is the purpose to acquire more nice shiny BTCs and put them in your bathtub like Scrooge McDuck and bathe in them, or is it with the hope you can acquire stuff with your investment? Do you pay for that stuff based on how many BTC it’s worth, or do you pay with BTC based on how BTC compares to the $? There’s your answer. It’s a speculative investment, not a currency. Is the purpose of buying gold to just buy stuff? There may also come a time when I can just borrow against it as collateral as funds are required. |
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Posted: 2/24/2021 10:15:39 PM EDT
[#40]
Quoted: I got to wondering how many people don’t own crypto and why. Is it a matter of distrust, or are you simply disinterested/indifferent to it? Do you feel it’s a scheme? Worried that it will vanish, or be outlawed? Maybe you were like me and saw the various crypto threads over the years here and just didn’t follow along. Not making a judgment on anyone’s reasoning.,,just simply curious. Crypto has caught the attention of the masses and even more recently big institutional firms. What keeps you away? Crypto, well the idea, has teeth IMO, but there is no way the powers that be will allow it to continue. It will be cracked open or villified or discredited into nonexistence one day. From what i understand, it's security lies in the strength of the encryption at it's creation date. The Googleplex, our government, private entities and the Chicoms are all in a race to create computer systems that will be able to break older encryption. When/if they do, it will be dead. Fiat currency and it's velocity is how governments bilk wealth from their subjects. No way they let this continue forever. |
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Posted: 2/24/2021 11:13:49 PM EDT
[#41]
Quote HistoryQuoted: Crypto, well the idea, has teeth IMO, but there is no way the powers that be will allow it to continue. It will be cracked open or villified or discredited into nonexistence one day. From what i understand, it's security lies in the strength of the encryption at it's creation date. The Googleplex, our government, private entities and the Chicoms are all in a race to create computer systems that will be able to break older encryption. When/if they do, it will be dead. Fiat currency and it's velocity is how governments bilk wealth from their subjects. No way they let this continue forever. I have to say I agree with this premise but there's money to be made in the meantime. Just have to be sure to get out in time. |
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Posted: 2/25/2021 7:33:00 AM EDT
[#42]
Quote HistoryQuoted: I don't know much about it. Seems like you would spend more in electricity than you would on a return. ?maybe? I like the idea and concept of it. Mining the bitcoins isn't the thing anymore because apparently because there aren't enough left in the wild to make it worth mining (as you say) for ordinary people trying to get into it. What is happening now is people are simply buying and selling bitcoins, driving up the price, as if it were some commodity (ARs, ammunition, gold, real estate, etc.). If the music stops, everyone is going to be trying to not be the last one holding the coins. |
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Posted: 2/25/2021 7:37:49 AM EDT
[#43]
I'm not against it, but it needs to be done with perspective. It's a long term investment as long as the world doesn't crash. How much bread will your crypto currency buy you when it's outlawed by regulation or a EMP cripples the Internet for a decade? While not on the scale of beanie babies idiocy, you really have to pay attention to the markets and current events. It is very much a fiat currency that the world governments can quickly squash with the amount of control they wield.
ROCK6 |
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Posted: 2/25/2021 7:39:58 AM EDT
[#44]
Quote HistoryQuoted: Well the $500 increase in my balance the past 24 hours is actually worth more than your 50 year old box of 22lr. Easy come easy go. |
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Posted: 2/25/2021 7:56:03 AM EDT
[#45]
Quote HistoryQuoted: Is the purpose to acquire more nice shiny BTCs and put them in your bathtub like Scrooge McDuck and bathe in them, or is it with the hope you can acquire stuff with your investment? Do you pay for that stuff based on how many BTC it’s worth, or do you pay with BTC based on how BTC compares to the $? There’s your answer. It’s a speculative investment, not a currency. By this metric, everything is a speculative investment, even foreign currencies. When I travel to a foreign country and buy something in pesos (or whatever the local currency is), I convert it to USD to determine what it will cost me, simply because that is the metric that I am most familiar with and the USD value is a clear yardstick in my mind. |
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Posted: 2/25/2021 8:43:58 AM EDT
[#46]
All this promotion of financial literacy to help bridge the wealth gap between racial groups is going to have to ‘splain crypto. So far it’s more an equity that’s posing as a currency. Like trans-genderism you’ll likely have to see what it amounts to over generations....the story is just beginning.
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Posted: 2/25/2021 9:16:33 AM EDT
[#47]
Quote HistoryQuoted: By this metric, everything is a speculative investment, even foreign currencies. When I travel to a foreign country and buy something in pesos (or whatever the local currency is), I convert it to USD to determine what it will cost me, simply because that is the metric that I am most familiar with and the USD value is a clear yardstick in my mind. You are missing something very basic. Farm land is worth X,XXX per acre because I rent it out to farmer for XXX per acre and the present value of the expected rent I can reasonably expect to receive in the future = the price I pay for the land. Stock in a going company is worth XX for the same reason - I expect them to make profits and distribute them to the shareholders. The present value of expected future profits should at least roughly equal the price I pay for the shares. USD have value to me because as a US citizen I'm required to pay any number of taxes, and by law those taxes obligations have to be met in USD. So I ask a simple question: Why is BTC $50k and not $20k? I get answers that imply I'm an idiot and wave fancy words like "price discovery" as though it were a talisman. Yeah, we discovered crypto is useful - that doesn't help us set a price. I see the value of crypto in concept. When I see it go from $300, to $10,000 to $20,000 to $50,000 in a couple years and no one can tell me why other than waving around fancy words I start to ask questions. The only reasonable answer (apparently) is people have jumped on a trend, and if by the whims of human nature they decide some other trend is more trendy then BTC can and will fall just as fast as it went up. The same thing can happen with stocks or farm land of course........but I get to keep those tasty rents and dividends in the meantime. |
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Posted: 2/25/2021 8:38:12 PM EDT
[#48]
BTC going down fast atm...I might buy in again if it hits 40k
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Posted: 2/25/2021 9:15:24 PM EDT
[#49]
Quote HistoryQuoted: BTC going down fast atm...I might buy in again if it hits 40k Yeah, it looks like Bitcoin went down 6%, Ethereum down 10.8% and Dogecoin down over 12% in the past 24 hours. Was there something that happened that explains this? Maybe some gov official said something anti-crypto? |
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Posted: 2/25/2021 9:26:40 PM EDT
[#50]
Quote HistoryQuoted: Mining the bitcoins isn't the thing anymore because apparently because there aren't enough left in the wild to make it worth mining (as you say) for ordinary people trying to get into it. What is happening now is people are simply buying and selling bitcoins, driving up the price, as if it were some commodity (ARs, ammunition, gold, real estate, etc.). If the music stops, everyone is going to be trying to not be the last one holding the coins. That sounds horrible lol With all the bank killing off conservative folks accounts you'd think bitcoin type stuff would not really go away but climb. I mean who wouldn't want an untraceable currency? (Or whatever) |
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