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mell says. It has intrinsic value as a decentralized form of payment, potentially anonymous and tamper-proof.
Wouldn't that be extrinsic value?
Bitcoin has as much intrinsic value as the paper dollar it's valued in.
it depends on others having a use for the raw material similar to others having a use for the bitcoin.
it's just one part of the asset basket mix, a more speculative and volatile than gold or land
mell saysit depends on others having a use for the raw material similar to others having a use for the bitcoin.
What are the uses of bitcoin? Paying off ransoms? Laundering money? Hoping that someone, someday, will pay a lot more than you did?
Onvacation saysmell saysOnvacation saysit depends on others having a use for the raw material similar to others having a use for the bitcoin.
What are the uses of bitcoin?mell saysit depends on others having a use for the raw material similar to others having a use for the bitcoin.
What are the uses of bitcoin?
Just take a look. Its digital gold. Obviously!
Tell us more about "market cap".
a good idea
Wow! The mooch had a good idea! invested 182M into Bitcoin! Smart man!
@Blue, why dont you start? If you get all these institutions to invest in your crypto, I might invest in it too.
Wake us up when you had some success. good luck!
the market cap is bigger
Market capitalization of Toyota (TM) Market cap: $209.03 B As of December 2020 Toyota has a market cap of $209.03 B.This makes Toyota the world's 38th most valuable company. If you own a share of Toyota you own a piece of Toyota's assets.
What do you own when you own a bitcoin?
What do you own when you own a bitcoin?
Onvacation says
What do you own when you own a bitcoin?
just scroll up. Onvacation already answered that question:
"Holders (HODLer's) own gold."
Its almost correct. Say digital gold or gold 2.0 next time.
Wookie posted the chart that shows the traits of money. Bitcoin is much better than the old gold.
Bitcoin is digital gold.
What do you own when you own a bitcoin?
What questions havent I answered??
At 92.8 terawatt hours annualized, bitcoin’s power consumption is slightly ahead of Pakistan’s consumption in 2016, and not wildly away from the Netherlands’ consumption that year. Put a different way, the electricity consumed by minting bitcoin could power all the tea kettles in Britain for 21 years.
Two-thirds of bitcoin production is done out of China. More than half of China’s energy output comes from coal, so the bitcoin production is likely to be particularly dirty.
It's unsustainable. Just sayin'
Buffett believes that Bitcoin has no underlying value. As a value investor, Buffett invests in companies that are undervalued, produce stable and recurring cash flow and have the ability to increase in book value. To Buffett, Bitcoin doesn’t produce earnings or dividends. Rather, the value of Bitcoin is simply what one person is willing to pay for it. In this regard, Bitcoin is no different than the tulip craze of 1637. Therefore, Buffett believes that Bitcoin has no inherent value.
Buffett only invests in things he understands
This may sound obvious to some: only invest in things you understand. However, too many investors, especially retail investors, chase investments based on headlines and stock tips from friends. They don’t do their research or conduct due diligence before investing. Rather, they hear about this “hot technology” and simply buy the stock. Or, they hear about that stock that soared 20% and automatically conclude it will jump another 20%. Sometimes, stocks go up for all kinds of reasons, and this “strategy” may work. Over time, and across an entire investment portfolio, however, it won’t work. In contrast, Buffett has a set of investment principles that he follows. He prefers to invest in stable consumer goods companies like Coca-Cola and financial services companies like American Express AXP +0.8%. If a potential investment falls outside his area of expertise, he rarely, if ever, buys it. Sometimes, there are exceptions, but mostly Buffett invests only in sectors and business models that he understands.
Should you buy Bitcoin: Do you have a set of investment principles? Or, do you simply buy what you read or hear about it without conducting any independent research? Couldn’t you simply buy Bitcoin to own it even if it doesn’t fit your typical investment criteria? Sure. When you think about portfolio strategy, however, you should understand why you own every position (and if you’re comfortable buying a position that you may not fully understand).
Bitcoin is a highly speculative investment
For some, Bitcoin is the single greatest investment in their lifetime. For others, it’s a speculative bubble that will crash to zero. Buffett doesn’t play in this sandbox. Why? Buffett isn’t a speculative investor; instead, he invests in companies that have a wide economic moat. While all investing involves some degree of speculation, Buffett’s background is in insurance and risk mitigation. Buffett doesn’t invest in “high fliers”—that’s not his game. His game is “buy and hold”—forever. He invests in companies that grow over time, steadily and consistently.
Should you buy Bitcoin: Here is a helpful way to approach a potentially speculative investment. The upside is easy: you make a lot of money. As I explain in The Lemonade Life, focus on the downside. Are you comfortable with Bitcoin being worth zero? Are you willing to lose 100% of your investment?
Should you buy Bitcoin?
You need to decide for yourself, and with the help of your financial advisor, if Bitcoin is right for you. Warren Buffett is only one investor. Critics say he doesn’t understand cryptocurrency or blockchain technology, and he’s already missed some of Bitcoin’s meteoric rise. After all, regardless of the underlying reason, each Bitcoin is now worth about $34,000. Isn’t that proof enough that it’s a good investment? Maybe. It’s possible, although unlikely, that Buffett ultimately changes his mind. Buffett said for years he wouldn’t buy technology stocks, only later to buy Apple AAPL +0.9%. Until then, however, Buffett is not a fan of Bitcoin and says he never will be.
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https://www.vox.com/2018/4/24/17275202/bitcoin-scam-cryptocurrency-mining-pump-dump-fraud-ico-value