331–340 of 357 posts
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How was their capital destruction? People can buy in at a lower price. It's a zero sum game.
Traders using leverage means it's not a zero sum game.
This is a good thing for Bitcoin. The ETF rules in my opinion gave too much power to miners. The rules stated that the ETF would follow the chain with the most work after just 48 hours. Miners need income, because mining is actively expensive. In the long term, this means they have to mine on the chain with the most valuable block reward. This means the economy really gets to decide the longest chain, not the miners.…
function generateBitcoinNewsReaction(oldPrice, newPrice) { if (oldPrice > newPrice) { return "This is good for bitcoin."; } else if (oldPrice
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There have been many volatility events. Given that governments have the ability to practically outlaw it if they choose, that makes it quite risky as a store of value. Several of the major volatility events in the past of bitcoin were related to Chinese government announcements or rumors regarding regulation/legality. Sure one can transfer bitcoin without governmental approval (or against restriction), but that annoy…
>"There have been many volatility events." Sure but I was speaking to the OPs assertion that this particular event is proof that it is not suitable as a store of value. >"Several of the major volatility events in the past of bitcoin were related to Chinese government announcements or rumors regarding regulation/legality." Right but this is to be expected given that China recently has been the largest market for Bitco…
I wouldn't recommend holding fiat currency as savings, except for perhaps 2-3 months of salary equivalent in case of emergencies. The rest should be stored in other assets based on your risk profile.
But it is currently a fact of life that we must exchange our cryptocurrency for fiat if we want to buy goods and services most places. While the number of merchants accepting bitcoin is growing, it's still quite small compared to the number of merchants who take local currency.
Bitcoin just went from a high of 1327.1926 to 995.9575 in the blink of an eye. Wow. From the ruling.... > First, the exchange must have surveillance-sharing agreements with significant markets for trading the underlying commodity or derivatives on that commodity. And second, those markets must be regulated. > Based on the record before it, the Commission believes that the significant markets for bitcoin are unregulat…
ha ha ha, now china gets all the exchange data, morons
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In 2013, depositors in Bank of Greece lost 50% of their deposits above $100k, overnight, by decree. Not saying Bitcoin is perfect, but the alternatives are often not better.
Wasn't that in Cyprus?
Whats the advantage to buying into a Bitcoin ETF vs just buying the same value directly in Bitcoin?
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Read about Soros breaking the Bank of England sometime, it's great stuff. Black Wednesday I think is the name of the event in popular culture
Great stuff in the sense that one person can directly profit to the tune of a billion dollars, by manipulating currency markets, at the cost of the taxpayers of an entire nation. So, not great stuff at all.
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On 2001-09-11 gasoline tripled, food doubled, and bottled water as much as quadrupled or quintupled in dollar pricing in parts of the US in less than a day. Yes, there were in fact $4/gallon, $5/gallon, and even $8/gallon gasoline and diesel prices posted, many by noon. This also increased the price of everything shipped by truck for a while, too. Prices came off that peak quickly, but took months to years to revert…
I don't think storing value in diesel fuel is a good idea either.