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Better off going to Vegas over BTC. Or just put your money in funds that pay dividends and are likely to appreciate. Sit back and relax.
The SEC approved BTC ETF's probably because they can be used as a sink for hot money. The largest cap stonks are wildly overvalued, even against gross revenues, let alone net profits. BTC ETF's probably lance the boil somewhat, possibly limiting the fallout in the broader market once panic ensues.
From what I gather such as from The Mooch, keep about 4% in BTC, 7% in gold and silver, and 9% in oil and gas.
AD says
From what I gather such as from The Mooch, keep about 4% in BTC, 7% in gold and silver, and 9% in oil and gas.
What about yams and ammo?
What I proposed was a hedge as far as significant devaluation of the dollar.
BTC is not suppressed while gold is actively suppressed is because central banks, with the exception of fucked up places like Nicaragua, stockpile gold, not BTC.
Bitcoin is valued in the dollar. It will follow the dollar. The fact it's not higher means it's a bad hedge. With inflation it should have been over $100k.
There was all that noise about bitcoin halving last April which was supposed to make it skyrocket. Didn't happen.
Bitcoin is valued in the dollar. It will follow the dollar. The fact it's not higher means it's a bad hedge. With inflation it should have been over $100k.
Get outta here!
"Bitcoin’s price has climbed a staggering 9,000,000% between 2010 and 2020, making it the top-performing asset of any class over the past decade."
RWSGFY says
There was all that noise about bitcoin halving last April which was supposed to make it skyrocket. Didn't happen.
Examine the BTC price chart. Notice it did not significantly increase within 12 months of the halving.
give BTC some time
.
BTC is certainly not a currency in any meaningful sense.
it is not a minimally viable product as either a means of exchange or as a means or escape.
and that latter one is the real doozie.
i came grudgingly to this viewpoint having been in and around BTC since it was in the single digits. i came to bitcoin through cryptography and early public key crypto projects like PGP that were so seminal in the whole idea of open source.
let me be clear: i am a huge believer in crypto-currency.
i think it’s probably the most important idea in the world right now.
but i also think it’s been stuck in an alley that ends in a brick wall as the early promise and purpose was lost among ponzi games, “coin have dog,” and lost vision and execution to the point where i was having a conversation with the founder of one of the major exchanges and he literally could not describe his order matching algo in even rudimentary terms, the primary purpose of ETH is ponzi casino games, and the best argument for BTC right now is “publicly traded ETF’s gotta buy it!”
this last one, of course, only makes the problem worse by generating not just greater fiat links but massive KYC systems. it’s all an increasingly curated garden of surveillance.
BTC was the AOL of crypto, a good start but unable to move forward out of early days; but now, BTC is predominantly spyware. and that’s not going to work out for people who want to leave governments behind.
when one looks at a currency there are a number of features that are needed:
1 sound
2 secure
3 scalable
4 widely accepted
6 stable
6 private
7 anonymous
BTC is 1 for 7, maybe 2 for 7, but probably not in the long run. it is sound. but it is not secure in the sense you really want it to be and the security around block integrity and ability to spam empty or altered ones inherently stands in opposition to “scalable” because its security lies in processing power and that makes scale expensive/prohibitive.
simple fact: until 100 million of us can buy lunch with it tomorrow, it’s not even in the discussion as a currency.
"Bitcoin’s price has climbed a staggering 9,000,000% between 2010 and 2020, making it the top-performing asset of any class over the past decade."
"As of 2024, Bitcoin’s price has a change of 31.40% so far this year."
AD I think maybe you're just posting in the wrong thread. This thread is for misinformation, like what Wookie posted. There are one, maybe two other threads for bitcorn information.
Why not conveniently have a debate about BTC in one thread ?
No one on this forum or any other thread or any other site has told me the value of bitcoin.
No one on this forum or any other thread or any other site has told me the value of bitcoin.
simple fact: until 100 million of us can buy lunch with it tomorrow, it’s not even in the discussion as a currency.
I am posting information to counterbalance the misinformation posted in this thread. Its similar to point and counterpoint.
Why not conveniently have a debate about BTC in one thread ?
I see. The people who were pitching this sounded like it was supposed to happen almost immediately. I was too lazy to go look at the charts then.
SoTex says
Get outta here!
"Bitcoin’s price has climbed a staggering 9,000,000% between 2010 and 2020, making it the top-performing asset of any class over the past decade."
No one ever gets my point.
It's not a currency we discussed this years ago it's a commodity. Red herring.
I think bitcoin is more like a bingo card than a commodity. Though one could say bingo cards are commodities.
Wookie you should buy some, make a huge profit, contribute to the family nut.
Wookie you should buy some, make a huge profit, contribute to the family nut.
WHAT IS CRYPTO? Please explain.
So it's like imaginary money but unlike fiat money only so much can be printed. People buy it in the belief that because of its (artificial) scarcity they will be able to sell it to someone else for more money.
There has to be a market for it, as there is at least one bid that is for one ask.
Why do people buy bitcoin?
Because they hope to sell it for more than they paid. Is there any other legal reason for bitcoin?
Now, as traders brace for a Donald Trump bitcoin "game-changer," the U.S. Federal Bureau of Investigation (FBI) has issued a serious crypto warning over attempts by scammers to steal users' funds.
FBI warns that crypto is a scam!
FBI warns that crypto is a scam!
I'm convinced at this point that 5-10 people hold 80% of it. They just yo yo the market and make fuck tons of money. It's false scarcity. The party will end at some point.
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https://www.vox.com/2018/4/24/17275202/bitcoin-scam-cryptocurrency-mining-pump-dump-fraud-ico-value