Anybody have BTC?, it just hit an all time high and halved (rewards) last month, The idea of the halving makes a lot of sense and seem like a really good idea for any sort of asset. How is everybody interest in crypto as a whole? I also own FETCH and ADA. I just ordered "The Code Book: The Science of Secrecy from Ancient Egypt to Quantum Cryptography" by Simon Singh. I wonder how many pipe smoking crypto holders they're are out there.
Bitcoin
- Thread starter cityslicker
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My view is crypto is garbage and prices are ruled by the uninformed. I dont think you will find a real financial planner that tells you to buy a stock at its all time high. From where I sit that train left the station long ago. I invest but I prefer to invest in something a little closer to real than fake money.
What are some of the things you like?, any sort of investment vehicles like real estate or ETFS like VOO and SPY, or maybe even PMs like gold or silver? I DCA bitcoin and don't really mind investing towards these peaks obviously try to lower my cost average but the idea of hedging money and storing it is intriguing to say the least.
All over the market but NOT in futures or currency. While it can be argued that its all an illusion Bitcoin is really based on nothing. There is no fundamental value that even pretends to be behind it. Its an investment that is trendy and most the people investing in it have no idea what they are doing. This creates an incredibly volitile "Investment". If you are going to invest in thigs that volitile only invest what you are willing to lose. The majority of folks trying to get rich fast usually end up poor.
Crypto is not unlike printing your own money. How much can you buy with a Bank of Condorlover $5 bill with my arse printed on the front of it? How about a Crypto Plug? How's that going to smoke and what will JimInks review be like? It all seems to me like a solution in search of a problem. Give me a 1oz silver dollar coin any day of week.
Running low on coins for you meerschaum restrictors?
All depends what's on the back of it.
If it doesn't have the Queen's (or King's) head on it, it isn't money as far as I'm concerned.
Jay.
Jay.
I agree on the garbage part, disagree on the uninformed part. I think the prices are 10000% manipulated by very well-informed whales and their armies of social media bots, with a few ties to more mainstream...stuff like getting celebrities to advertise BTC in the last bull run. This tells me that the 2024/25 fabled bull run will happen, only because the prophecy is that it will happen. The whales will rinse real money (US$, EUR, CHF, stuff with Kings' heads for @mawnansmiff) off the hapless, helpless, uninformed saps, then the price will crash and in 4-5 years it will cycle again. Funhouse open 24/7/365.
To be fair, the idea (or fact in my opinion) that all crypto is utter garbage does not mean that money can't be made off it. Money can and has be made from all sorts of trash over history.
Yes money can be made but huge amounts can also be lost. I cant afford to gamble on mood investments. Most people lose because the are like, "its at an all time high...lets buy some! It has to keep going" The sad thing is most people buy high and sell low. Obviously not a good way to make money.
One hundred and seventy years ago if you went to your local bank and cashed a check you would have received notes in the banks name - this was the time of what was known a 'Free Banking' so every state chartered bank issued its own notes. These banks failed when they issued lots of unbacked currency. If you traveled out of state your Bank of Wiget Town $5 would only be worth $3.75. This was based on the distance the note had to travel to be redeemed into gold coin. The greater the distance the greater the discount. Some backs were established in the middle of nowhere specifically for the purpose of fraud. As a very famous British Judge once remarked 'There are no new frauds just tribute acts'! If it isn't silver or gold in my opinion it isn't worth the paper it is printed on.
Bitcoin is a classic Ponzi scheme, which was headed for collapse, but was rescued by major financial institutions because of its potential for various schemes like pump and dump. It is so clearly valuable as sucker bait that billions of dollars will be wicked from the lives of people willing to be fleeced. Eventually its essential uselessness will drive it back to 0 and the Mandarins of Finance will move on to the next scam.
That’s the optimistic view.
That’s the optimistic view.
Actually I meant to write but forgot, it's so bleedingly clear that whoever wanted to have BTC could have it for many many years before Fidelity, Blackrock etc (but NOT Vanguard) decided to offer it. In fact, getting BTC through a spot ETF makes zero sense other than to be used by people who simply need to see a name of an established and respectable institution rather than getting it through crypto-specific platforms.
I wouldn't touch those imaginary "coins" with a ten foot pole. But, yeah, some have got rich, and some have lost shirts. pants, and socks.
I've kept an eye on BTC and a few others, keeping a daily log. The one I've always fancied is XMR (Monero) but UK banks hate it, you have to indirectly trade through something like BTC on a limited number of exchanges to buy it yadda yadda - all because of its lack of tracability, which is the chief attraction in the first place. Gah.
PMs in my hand, that's what I like best. No dependencies and security is up to yourself.
PMs in my hand, that's what I like best. No dependencies and security is up to yourself.
Owned them since since 2013 and I like them. Digital currency "will be your" currency, like it or not.
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