Everyone is rushing to buy bitcoin at all time highs
If you did last week you would have already doubled your investment
Only if you're smart enough to know when to sell and never buy back in.
Coinbase hits number 30 in the top free apps on Apple's mobile store
31–40 of 97 posts
Re: Coinbase hits number 30 in the top free apps on Apple's mobile store
#32Earlier quoted context omitted.
No. This is incorrect, and a misunderstanding of economics. CPI, price inflation, is tracking at 2% as expected. Housing is actually down. Stocks are up because some people have a bunch of extra cash and nothing to do during the day. These two are not connected.
It sucks that the goods and services I want to purchase are always increasing at more than CPI.
Unless you're trying to buy stocks that's probably not true, and of course, the point of investing in stocks is they become worth more over time.
Re: Coinbase hits number 30 in the top free apps on Apple's mobile store
#33Earlier quoted context omitted.
Crypto however has not. It has spent a comparatively tiny fraction of its time at ATH as one would expect for a speculative bubble. In fact, it spent the last 3 years way below its ATH.
But the ATH increases often. Yes it crashes from these peaks, but never to below the starting point. Bitcoin bought anytime and held for a sufficient length of time would have always made money. If you can hold it for 5+ years you will make money.
You're immortal until you're not.
Re: Coinbase hits number 30 in the top free apps on Apple's mobile store
#34Earlier quoted context omitted.
US is also creating dollars at all time highs. As money supply increases, asset prices inflate
No. This is incorrect, and a misunderstanding of economics. CPI, price inflation, is tracking at 2% as expected. Housing is actually down. Stocks are up because some people have a bunch of extra cash and nothing to do during the day. These two are not connected.
I'd like to know more about this. I always equated printing money to inflation. Why isn't this the case? Can you point me to some good books for the same? Thanks!
Re: Coinbase hits number 30 in the top free apps on Apple's mobile store
#35Earlier quoted context omitted.
I'd love a citation on that if you have one, I have seen no evidence the two are connected. The money was printed to counter deflationary pressure. This succeeded, and the rate of inflation is tracking at 2% per expectations.
Replace Tesla with Facebook, or a fraction of one large tech company, or less than the $900B stimulus bill that was just passed. My point was only that it’s a currently a small fraction of the overall US equity market, and if it becomes increasingly widely accepted as a reserve currency comparable to the dollar or an inflation protected asset like gold then there’s no reason why it shouldn’t be worth trillions.
There's not a single reason why it should be worth anything at all.
Re: Coinbase hits number 30 in the top free apps on Apple's mobile store
#36Earlier quoted context omitted.
It sucks that the goods and services I want to purchase are always increasing at more than CPI.
Unless you're trying to buy stocks that's probably not true, and of course, the point of investing in stocks is they become worth more over time.
It's most definitely true, especially my biggest expenses of taxes, real estate, education, and healthcare.
Savings (for retirement or otherwise) is probably the other big expense, which you could classify as "stocks", but if you predict more volatility in the future, therefore needing to save more now, then that is also increasing in price.
Re: Coinbase hits number 30 in the top free apps on Apple's mobile store
#37There is such a negative emotional reaction to both BTC and TSLA. Sometime over the last 10 years or so we've found ourselves really moving forward from the old guard of the 20th century and we have real new beginnings. It's not that "this time it's different" it's "the times are different". Embrace it, buy a small amount of bitcoin, buy a small amount of tesla, be part of something big, if it pops it will not hurt y…
Actually a lot of people like the tech behind cryptocurrencies. The blockchain has a lot in common with the inner workings of git, for example.
What I don’t like is all the scams they have been used for.
Re: Coinbase hits number 30 in the top free apps on Apple's mobile store
#38There is such a negative emotional reaction to both BTC and TSLA. Sometime over the last 10 years or so we've found ourselves really moving forward from the old guard of the 20th century and we have real new beginnings. It's not that "this time it's different" it's "the times are different". Embrace it, buy a small amount of bitcoin, buy a small amount of tesla, be part of something big, if it pops it will not hurt y…
It’s not even negativity just incredulity. TSLA has a larger market cap than all other car companies combined. I’m tickled to see a new entrant in automotive succeed, but the frothiness around it is based less on fundamentals or realistic growth prospects and more on something approaching religious fervour. The sentiment about turning over the old guard has a very strong “new economy” 1999 feeling to it.
All the above applies to Bitcoin as well, which has largely failed at all the practical uses that were proposed to justify its early rise.
Re: Coinbase hits number 30 in the top free apps on Apple's mobile store
#39another round of stimulus checks is going to set bitcoin off on another bull run imo. you could see a drastic effect as soon as the $600 started hitting people's checking accounts
Re: Coinbase hits number 30 in the top free apps on Apple's mobile store
#40There is such a negative emotional reaction to both BTC and TSLA. Sometime over the last 10 years or so we've found ourselves really moving forward from the old guard of the 20th century and we have real new beginnings. It's not that "this time it's different" it's "the times are different". Embrace it, buy a small amount of bitcoin, buy a small amount of tesla, be part of something big, if it pops it will not hurt y…
Actually a lot of people like the tech behind cryptocurrencies. The blockchain has a lot in common with the inner workings of git, for example. What I don’t like is all the scams they have been used for.
Then you must really hate the US Dollar!