51–60 of 133 posts
I find this hilarious when many European banks have lost 98% of their market caps and individual stocks have just as much volatility in many cases. Maybe the investor warnings should be more even.
I was going to buy a bitcoin at 6K but thought it risky. Now I feel dumb.
If I calculated correctly he probably sold more than 20 bitcoin lol. He could retire now if he kept it.
Imagine how he feels right now, lol. But as long as he made profit, that's all that matters. Hindsight always 20/20
I sold when unknowledgeable people talked about it and acted like they knew how it worked. It was ~ 18 k then. I didn't leave much on the table.
Bitcoin speculation is an almost pure Keynesian beauty contest. https://en.wikipedia.org/wiki/Keynesian_beauty_contest As long as most people think everyone else thinks BTC is the prettiest girl, it can have substantial value and the sky is the limit. It's a pure speculation asset. You don't need bitcoins to pay taxes. The value has a very weak link anchored to anything in the real economy (limited number of coins an…
I don't think fiat currency has terribly much more going for it, in terms of intrinsic value, other than you do need it day to day because there aren't alternatives for buying things and paying your taxes. If here in Canada the US dollar became legal tender and I could use it for all my transactions, would the Canadian dollar hold its value? I don't think so.
Bitcoin speculation is an almost pure Keynesian beauty contest. https://en.wikipedia.org/wiki/Keynesian_beauty_contest As long as most people think everyone else thinks BTC is the prettiest girl, it can have substantial value and the sky is the limit. It's a pure speculation asset. You don't need bitcoins to pay taxes. The value has a very weak link anchored to anything in the real economy (limited number of coins an…
Earlier quoted context omitted.
People use Bitcoin as a form of gold 2.0. Thats why the MC is where it is. Nobody in their right mind is making a cash flow case for btc unless you include lending which actually makes a decent return.
It's true that people use it as gold 2.0 and it's the bull case. But, the value is approximately 100% speculative. If people for some reason decided they will only use it for transactions and not as investment, most of the value would disappear.
Earlier quoted context omitted.
Parent is probably alluding to market caps before the great financial crisis. So about 14 years back.
But individual deposits were guaranteed were they not?
Earlier quoted context omitted.
I don't think fiat currency has terribly much more going for it, in terms of intrinsic value, other than you do need it day to day because there aren't alternatives for buying things and paying your taxes. If here in Canada the US dollar became legal tender and I could use it for all my transactions, would the Canadian dollar hold its value? I don't think so.
At least the 'pretty girl' in this example can point guns when she's a fiat - so she definitely gets a few bonus points for that.
Maybe with the US currency, but that's also special because it's currently the reserve currency of the world.