71–79 of 79 posts
Is there any conceivable good reason for the value to have tripled in 3 months, or is this a cycle of FOMO hysteria just like last time?
It is obviously the latter. For those who want to double their profits when it was at $10k - $19k. What comes up must come down. Question is when?
Famous quote with lots of counterexamples. Peter Lynch provides multiple conterexamples to many similar stock market quotes in an interview.
I don’t care if it’s a guarantee to be 100k tomorrow, I refuse to profit off crypto speculation. It may seem crazy to people but I like to earn money with effort.
Earlier quoted context omitted.
My point is that it is not black-and-white. Stocks represent companies with real products and cash flows, but there is also a ton of speculative, bubble like behaviour on top of it. Take a look at a 1 year chart of something like TSLA or NIO and tell me that isn't true.
Buying a share of Tesla gives you equity in the efforts of thousands of smart people, accumulated intellectual property, factories, sales and marketing organizations etc. The shareholder probably expects the generated cash flow to be channeled by Tesla into creating something new, thus expanding the scope of what a share of TSLA represents. Those expectations may be unrealistic, but there is actual growth and inventi…
I got in early and got lucky. I mined a bunch of bitcoins about 10 years ago and have been selling them off gradually. I take that cash and buy stocks with it.
Earlier quoted context omitted.
I would seriously advise people not to speculate on crypto. The biggest use case is selling it to other speculators. That can't be sustainable. But only wanting to earn money through effort is a ridiculous notion as well. Investing your savings is a good and necessary idea.
I'd really be interested to see the volume of forex vs. circulation. My intuition is that many more dollars trade hands every day for speculation than purchases, but I could be wrong.
Also you don't want to hold dollars because unlike bitcoin they're inflationary and decrease in value over time - a necessary attribute for something to work well as a currency and one reason among many why cryto thus far is a failure as a currency.
Crypto is closest to gold in that both are scarce commodities used as a store of value. It's a terrible investment though. Warren Buffett made an interesting comparison between all the gold mined in history vs all the farmland in the US and which is a better investment over time.
I wonder what will happen the next time we have a prolonged global network outage (ie. days, weeks). The next time we have a major kinetic conflict, for example... Since Bitcoin will "fork" in each network partition, and everything will work ... fine, within each partition -- right up until the moment the network is repaired, and all but one of the "forks" simply disappears. I think most people will be surprised that…
That's probably not going to happen; we have satellites broadcasting the bitcoin blockchain: https://blockstream.com/satellite/
I took out the money on loss which was stuck in from last 3 years. Better have something than nothing. Idea of trading is only worth doing if done as a full time job. As a currency, I don't want to use a currency which goes up and down like all these.
Bitcoin is a lot less volatile than you think: https://www.etftrends.com/alternatives-channel/bitcoins-vola... “In our current volatility research, we compared the 90 day and year to date volatility—as measured by their daily standard deviation as of November 13, 2020—of bitcoin against the constituents of the S&P 500 Index. We found that bitcoin has exhibited lower volatility than 112 stocks of the S&P 500 in a 90 d…
I wonder what will happen the next time we have a prolonged global network outage (ie. days, weeks). The next time we have a major kinetic conflict, for example... Since Bitcoin will "fork" in each network partition, and everything will work ... fine, within each partition -- right up until the moment the network is repaired, and all but one of the "forks" simply disappears. I think most people will be surprised that…
That's probably not going to happen; we have satellites broadcasting the bitcoin blockchain: https://blockstream.com/satellite/
As it stands right now bitcoin market cap https://www.coingecko.com/en is at $600 billion, not near the top most valuable public companies yet and not sure what coinbase will be priced at
the better question is in what currency will coinbase (or) similar successors be priced in?