No, Bitcoin isn’t pumping because it’s a “safe haven” from banks
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No, Bitcoin isn’t pumping because it’s a “safe haven” from banks
1–10 of 16 posts
Re: No, Bitcoin isn’t pumping because it’s a “safe haven” from banks
#2I liked this write up. Basically, it's gambling, and pumping, and people misunderstand both scale and motivations to buy or sell because they focus on narrow stories.
I don't have a spare million dollars but even if I did I wouldn't engage in a bet over BTC price because that too simply adds legitimacy to the game.
Re: No, Bitcoin isn’t pumping because it’s a “safe haven” from banks
#3Eh it’s fine for tail risk alloc. If in a collapse scenario I think BTC will 40x and I put 2.5% into it, I’m covered.
Re: No, Bitcoin isn’t pumping because it’s a “safe haven” from banks
#4[flagged]
Re: No, Bitcoin isn’t pumping because it’s a “safe haven” from banks
#5Eh it’s fine for tail risk alloc. If in a collapse scenario I think BTC will 40x and I put 2.5% into it, I’m covered.
In this case, are you expecting BTC will 40x nominally, or in real terms? If it goes 40x because the dollar loses all value then you’ll still have lost value in real terms.
Re: No, Bitcoin isn’t pumping because it’s a “safe haven” from banks
#6It's because stupid money moves fast and in stupid numbers.
Re: No, Bitcoin isn’t pumping because it’s a “safe haven” from banks
#7[flagged]
I hear you, but please don't post flamewar comments to hacker news. We're trying for something else here: https://news.ycombinator.com/newsguidelines.html.
Re: No, Bitcoin isn’t pumping because it’s a “safe haven” from banks
#8When they say the whole screed in the headline, you can usually believe the opposite. Yes, people are fleeing from cash. COMEX is running dry too, will be interesting to see what the copes will be regarding that soon.
Re: No, Bitcoin isn’t pumping because it’s a “safe haven” from banks
#9Eh it’s fine for tail risk alloc. If in a collapse scenario I think BTC will 40x and I put 2.5% into it, I’m covered.
If we have a collapse there could be a civil war of sorts so wouldn't be long before the power grid goes offline, then BTC will be useless almost instantly. Bullets and canned food will have far more value.