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I invest in it because I believe its price has a lot of upside.
I also like the traits of Bitcoin in comparison to other similar forms of money.
You sent me a link to a book. I asked you to summarize. Do you have a simple answer to the question of "what is the intrinsic value of bitcoin?"
No, I dont think I have a simple answer for you.
G36 saysYou sent me a link to a book. I asked you to summarize. Do you have a simple answer to the question of "what is the intrinsic value of bitcoin?"
No, I dont think I have a simple answer for you.
I'll help.
It only has value if someone else is willing to pay you for it.
I dont buy Bitcoin at the current price (value) because I hope it will stay at that price (value). I put money in Bitcoin because I believe someone (the market) will pay more in the future for it. Same with tech stocks BTW.
My risk profile allows me to invest in something thats highly volatile without losing sleep.
G36 saysMy risk profile allows me to invest in something thats highly volatile without losing sleep.
So buying a bitcoin is like buying a lotto ticket.
I dont call any of these people names because its their choice and its legal.
That shows me you have a strong hostility against people that like to invest in Bitcoin. You don't say these things about people investing in tech stocks, even though we could argue that the value of a certain tech stock is way above its intrinsic value, or do you?
G36 BTW, BTC also became a high probability "BUY" 4hr as soon as it breached up above 15100
I am starting to think you just like to provoke instead of having a real/meaningful discussion. Which is why you dont answer questions.
in which other Cryptos do you invest and why? I agree the backtest to lower levels is very bullish. I am thinking of either buying more Bitcoin or other cryptos.
I get that tech stocks have intrinsic value but how does your "greater-fool-theory" apply to the fact hat the market price is way above the intrinsic value for tech stocks?
I struggle with saying you are a greater fool now for buying but later when you sell at a higher price you are all of the sudden not a greater fool anymore.
Also, the buy now or be priced out forever phrase came from the 2005/2006 housing bubble....That phrase will be repeating by some people during any bubble.
We were thinking of a road trip to San Diego for X-mas because it's not real convenient to fly to New England this year.
Smart Money and Governments and Secret Organizations hate the Dollar so much, that when bonds are issued by the Treasury at bupkiss interest, or they have an opportunity to snatch up suitcases full of cash, everybody runs to snatch it up. Some people like to have a little gold as a hedge against uncertainty.
Meanwhile, as soon as most people hear Buttcoin, they're like "Here comes a scam"
G36 saysSince you asked, did your mom stop too soon?
Yeah. She said I was a biter.
And, you said if someone sells Bitcoin at a higher price he/she is no longer a fool. You also said, people who bought the last all time high (at 20k) are fools. What about the people that bought the all time high at 1k in the previous bull run and are still holding? Are they also fools?
interesting story. Why not answer the other questions as well?
That's why you dont answer the question about tech stocks and their intrinsic value.....Tech stocks trade multiple times over their intrinsic value and continue to go up (most likely).
I am fine with you calling us Bitcoin investors all kinds of things and calling the whole thing a scam, ponzi whatever. I just leave it as is.
Eric Holder says
Dollar has no "divisibility"? Seriously? Ever heard of cents? =)) And how the fuck cash dollars have no anonymity? Ever heard about kidnappers demanding ransom to be paid in small previosly circulated dollar bills? Ever wondered why?
That picture is a fucking joke.
holy smokes, alright :) lets use this one below?
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Raoul Pal, former Goldman Sachs hedge fund manager, recommending bitcoin and gold
www.youtube.com/embed/FKLabPm1D-g
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