Investments are easy to predict. They will at times go up. They will at times go down.
see, easy peasy. Nothing to it.
see, easy peasy. Nothing to it.
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If you didn't buy in 2016 you're too late now...
Some of the so-called experts say it could go to 200k in the next few years...I hesitated for years and finally bought the dip. over time, it will go up despite the dips just like the stock market...it is a limited quantity asset just like gold so although it seems pretty worthless in a road warrior scenario, it is otherwise something that will eventually become scarce and the demand will drive it up.
I don't know much about the others...I wish i could afford to throw money around to all of them but I'm new to this so I am picking the proven original for now...can anyone convince me why you should have many cryptos? I know people do it but dogecoin began as a joke so I just don't know how something like that lasts...some market experts think a handful will emerge as the standards and all the rest will fade away eventually. I'd think sticking to the name recognition ones that have a track record may be a better choice but if someone can tell me putting a few hundred into dogecoin is worth it vs using it for bit coin then maybe I'll look into it. Educate me now that we've answered the Op question LOL.
I don't know much about the others...I wish i could afford to throw money around to all of them but I'm new to this so I am picking the proven original for now...can anyone convince me why you should have many cryptos? I know people do it but dogecoin began as a joke so I just don't know how something like that lasts...some market experts think a handful will emerge as the standards and all the rest will fade away eventually. I'd think sticking to the name recognition ones that have a track record may be a better choice but if someone can tell me putting a few hundred into dogecoin is worth it vs using it for bit coin then maybe I'll look into it. Educate me now that we've answered the Op question LOL.
Man I don't know. If you feel it you feel it. When I got married 10-12 years ago my wife thought I was crazy buying lead, primers, powder. She thinks I'm less crazy now.
I know what you mean...however, in your case, you won't sell any of that unless you have to eat. You didn't buy that as an investment, you bought it as an insurance policy. The same is true for a lot of folks...I just wonder about the guys who buy up all the walmart and academy ammo to resell? Are they entrepreneurs who already had a massive stockpile and just want to make money on something they know, or are they just stupid?
I want to preface by saying I think Bitcoin's fate is ultimately tied to the markets, and vice versa, at least in the near term. I can see a future in which Bitcoin rises from the ashes of the crater that's about to be where our economy once was, but until then I think it's invariably now part of the everything bubble. If the everything bubble continues to go up, I firmly believe Bitcoin will, as well. If it pops, I firmly believe it will take Bitcoin down with it.
As for the recent bull run, it's not unexpected. Metcalf's law seems to still apply. It's also in keeping with the halvening phenomenon that's characterized BTC's bull runs for quite a few years. And now there's hot debate as to whether the bull run is over, or just getting started, and both camps have their arguments. If Wall Street gets its way, it's just getting started.
Bitcoin has proven to be a wonderful new source of quick money for banks, hedge funds, and corporate balance sheets alike; in lieu of their normal money making activities like lending, investing in profitable companies, and selling actual products and services. Bitcoin has found itself at the end of this strange food chain, starting with the banks. Unable to lend, banks are dumping it all into markets. Unable to sell products and services, corporations are buying BTC for quick cash. If BTC goes, the corporations go, and so do the banks.
As completely messed up as this is, crypto has found itself potentially carrying the entire financial system, and I don't think that can be understated. If crypto goes, it may very well take everything down with it. So in the end, BTC might be more of a risk to the bubble than the bubble is to it. Not to say that's BTC's fault, or the fault of its proponents, mind you. Crypto has just found itself in the uncomfortable position of being the last horse that Wall Street is going to ride to death. That, however, won't stop bureaucrats from blaming it, and the people who deal in it, and using that as a pretext to regulate it for their own benefit, under the pretext of protecting investors. You can already see them angling in that direction, and Elon's trolling, while funny, isn't helping.
Speaking of which, he probably doesn't have much influence over BTC. He seems to simply be reading the same charts as everyone else and making ambiguous tweets that, after the fact, can be construed to have moved the market. I highly doubt that.
A more plausible explanation comes in the form of stress testing. Some have argued that institutions failed recent stress tests and had to find liquidity fast, and thus cashed in on some BTC to raise said liquidity. To me, this is more plausible than a single CEO with a smartphone moving the market, especially when you look at the data and see how fast it went so far. That kind of movement with that kind of market cap has to be a coordinated whale attack, in my opinion.
Ultimately I think it has a bright future, because it's an extremely valuable asset to the global financial system. It does what no other medium of exchange has done before, not even gold. It provides for a store of value that's 100% secure, that's not based on trust, and it can literally be stored and transported in someone's mind. If you can memorize twelve words, you can securely store and move billions of dollars in BTC, and nobody can stop you.
It also has a feature that gold doesn't have, that's especially attractive to the global elite. It's violently deflationary by nature, whereas gold is slight inflationary. With gold being slightly inflationary, you will never lose value, but you will never gain it either. If you bury a gold coin in the garden and dig it up 100 years from now, it's going to be worth exactly what it was the day you buried it. Nothing ventured, nothing lost, and, most importantly, nothing gained. BTC on the other hand rewards greed, laziness, and lack of vision. Ergo, it rewards all the slimy behavior that the global elite are notorious for. They can simply hoard it like Scrooge McDuck and profit greatly while doing it. You can already make money by borrowing against your BTC, and that's only going to be more true in the future. Just like New York real estate moguls, BTC holders will be able to stake their BTC for other forms of cash, such as CBDCs, and literally get paid for doing nothing. The rich will get richer at the expense of the poor, but to a degree never before seen. If gold is God's money, BTC most assuredly is the devil's money.
As for the recent bull run, it's not unexpected. Metcalf's law seems to still apply. It's also in keeping with the halvening phenomenon that's characterized BTC's bull runs for quite a few years. And now there's hot debate as to whether the bull run is over, or just getting started, and both camps have their arguments. If Wall Street gets its way, it's just getting started.
Bitcoin has proven to be a wonderful new source of quick money for banks, hedge funds, and corporate balance sheets alike; in lieu of their normal money making activities like lending, investing in profitable companies, and selling actual products and services. Bitcoin has found itself at the end of this strange food chain, starting with the banks. Unable to lend, banks are dumping it all into markets. Unable to sell products and services, corporations are buying BTC for quick cash. If BTC goes, the corporations go, and so do the banks.
As completely messed up as this is, crypto has found itself potentially carrying the entire financial system, and I don't think that can be understated. If crypto goes, it may very well take everything down with it. So in the end, BTC might be more of a risk to the bubble than the bubble is to it. Not to say that's BTC's fault, or the fault of its proponents, mind you. Crypto has just found itself in the uncomfortable position of being the last horse that Wall Street is going to ride to death. That, however, won't stop bureaucrats from blaming it, and the people who deal in it, and using that as a pretext to regulate it for their own benefit, under the pretext of protecting investors. You can already see them angling in that direction, and Elon's trolling, while funny, isn't helping.
Speaking of which, he probably doesn't have much influence over BTC. He seems to simply be reading the same charts as everyone else and making ambiguous tweets that, after the fact, can be construed to have moved the market. I highly doubt that.
A more plausible explanation comes in the form of stress testing. Some have argued that institutions failed recent stress tests and had to find liquidity fast, and thus cashed in on some BTC to raise said liquidity. To me, this is more plausible than a single CEO with a smartphone moving the market, especially when you look at the data and see how fast it went so far. That kind of movement with that kind of market cap has to be a coordinated whale attack, in my opinion.
Ultimately I think it has a bright future, because it's an extremely valuable asset to the global financial system. It does what no other medium of exchange has done before, not even gold. It provides for a store of value that's 100% secure, that's not based on trust, and it can literally be stored and transported in someone's mind. If you can memorize twelve words, you can securely store and move billions of dollars in BTC, and nobody can stop you.
It also has a feature that gold doesn't have, that's especially attractive to the global elite. It's violently deflationary by nature, whereas gold is slight inflationary. With gold being slightly inflationary, you will never lose value, but you will never gain it either. If you bury a gold coin in the garden and dig it up 100 years from now, it's going to be worth exactly what it was the day you buried it. Nothing ventured, nothing lost, and, most importantly, nothing gained. BTC on the other hand rewards greed, laziness, and lack of vision. Ergo, it rewards all the slimy behavior that the global elite are notorious for. They can simply hoard it like Scrooge McDuck and profit greatly while doing it. You can already make money by borrowing against your BTC, and that's only going to be more true in the future. Just like New York real estate moguls, BTC holders will be able to stake their BTC for other forms of cash, such as CBDCs, and literally get paid for doing nothing. The rich will get richer at the expense of the poor, but to a degree never before seen. If gold is God's money, BTC most assuredly is the devil's money.
With respect I disagree on a few points, but also agree on a few. I most definitely didn't buy it as insurance, I saw what was happening and made an investment. Kids shoot a lot, a whole lot. But there is nothing better than watching a 5year old blast some cans...or armadillos.
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