Cryptocoin Value and Market Trend Discussion

[Outback Bronze]

Keep believing it's not a real investment.

Yeah, it just keeps going doesn't it and obviously will continue to do so.

Microsoft shareholders wants the company to buy BTC, more countries are getting in on it and now pension funds want some of the action too. Thats only just getting started.

I think everyday purchases is not the real question here but more larger investments like buying property, boats, cars, caravans etc as the price keeps pushing up and BTC becomes more widely accepted.

 

[ty_ger]

Do as you wish, just be careful.
Don't leverage it. Don't get into debt because of it. Don't trust it. And have an exit strategy.

You can't buy a house with it. You can't buy a car with it. You can't start a business with it. It isn't sustainable. And all it takes is some panic to hurt people. It isn't to be trusted.

 

[ZenZimZaliben]

Do as you wish, just be careful.
Don't leverage it. Don't get into debt because of it. Don't trust it. And have an exit strategy.

You can't buy a house with it. You can't buy a car with it. You can't start a business with it. It isn't sustainable. And all it takes is some panic to hurt people. It isn't to be trusted.

I literally bought a car and a house with it.

 

[ty_ger]

I literally bought a car and a house with it.

You have an agent who accepts Bitcoin?

 

[ZenZimZaliben]

Have you never invested anything in your life? You also can't go buy a Coffee with a Tesla Share, but I can SELL it and convert it to CASH.

 

[ty_ger]

Have you never invested anything in your life? You also can't go buy a Coffee with a Tesla Share, but I can SELL it and convert it to CASH.

Then you agree with what I said.

As a buyer at $90k, the thing you have to worry about is others selling to buy real things.

 

[Vya Domus]

Notice how everyone talks about buying Bitcoin but no one talks about buying WITH Bitcoin?
It is a useless currency based solely on speculation. It's way too useless and way too speculative to buy at this ridiculous price.
If you want to make a bunch of money, this is a great time to sell. At the moment, it is all just a ponzy scheme and everyone wants you to buy so that their value can go up.

I think it's been pretty obvious for years at this point that people look at BTC as an asset and not a currency, this isn't anything new and everyone knows it. As to whether or not it has too high of a price to buy into at this point that doesn't make any sense to me. You can buy Apple which has twice the market cap of BTC but I am pretty sure it will still continue to go up regardless.

 

[ZenZimZaliben]

Then you agree with what I said.

As a buyer at $90k, the thing you have to worry about is others selling to buy real things.

No, because I am positive it will continue to go up. In fact I will not be surprised if 1 Satoshi = 1 USD in the near future (hopefully my lifetime ). People are selling, right now. 1.3m BTC have been traded, just today. But for every sale there is a purchase..thus Market equilibrium. If more people are buying then selling, price goes up, opposite price down.

 

[ty_ger]

Apple makes something. You have metrics to compare against. You have a product. You have physical investment. You have a board. You have goals. You have metrics.

Crypto is speculative.

You can't have a world of millionaires; or a million will be worthless.

 

[Vya Domus]

Apple makes something. You have metrics to compare against.

I think I already made this point in this thread somewhere here but there are many other examples of assets and companies which don't make anything useful or turn a profit and yet they are still valuated to be worth billions of dollars.

Gold for instances is used in some electronics and a few other industries but do you think those uses cases alone should make it worth 10 trillion or however much it's estimated to be ? Uber turned a profit just once in it's entire lifetime I think yet it's worth 140 billion, what do you think of that ?

 

[kapone32]

I think I already made this point in this thread somewhere here but there are many other examples of assets and companies which don't make anything useful or turn a profit and yet they are still valuated to be worth billions of dollars.

Gold for instances is used in some electronics and a few other industries but do you think those uses cases alone should make it worth 10 trillion or however much it's estimated to be ? Uber turned a profit just once in it's entire lifetime I think yet it's worth 140 billion, what do you think of that ?

Same thing could be said about Amazon. AWS was the first time Amazon turned a profit. It has only been the most valuable stock over the last 15 years.

 

[AnotherReader]

I think I already made this point in this thread somewhere here but there are many other examples of assets and companies which don't make anything useful or turn a profit and yet they are still valuated to be worth billions of dollars.

Gold for instances is used in some electronics and a few other industries but do you think those uses cases alone should make it worth 10 trillion or however much it's estimated to be ? Uber turned a profit just once in it's entire lifetime I think yet it's worth 140 billion, what do you think of that ?

Are you seriously comparing gold with what may turn out to be fads?

 

[kapone32]

Are you seriously comparing gold with what may turn out to be fads?

When you buy Gold on the market are you actually buying product?

 

[Dr. Dro]

BTC only at $92k...still a Fad? LMAO

My extremely conservative gold certificate investments have outperformed all my other funds and went up by 20% last month.

Uncertainty in the economy and political sphere usually leads to an explosive growth in alternative methods of storing wealth, as it's a way to shelter it should the economy and political climate continue to deteriorate. Despite the highly speculative nature of crypto, the reasons people put their money in BTC aren't very different from the reasons I buy gold bars.

While I am very much against crypto, one thing about it can't be denied, that the people who use such virtual assets have reached an agreement upon their worth, making it a viable trade.

 

[AnotherReader]

When you buy Gold on the market are you actually buying product?

In our neck of the woods, the Royal Canadian Mint sells gold coins and bars, also known as bullion.

 

[eidairaman1]

Yeah, it just keeps going doesn't it and obviously will continue to do so.

Microsoft shareholders wants the company to buy BTC, more countries are getting in on it and now pension funds want some of the action too. Thats only just getting started.

I think everyday purchases is not the real question here but more larger investments like buying property, boats, cars, caravans etc as the price keeps pushing up and BTC becomes more widely accepted.

And easier to steal

 

[Icon Charlie]

Greed is Good. Gorden Gekko - Wall Street 1987


I know the dark side of investing so no,... I will not go all in on "the coin".

I made my fortune on...

Treasuries.
S&P 500
Index funds.
Mutual Funds
Commodities.
CD's, Money Markets
Investment properties
Owning businesses
Doing the hustle to get ahead.
Foriegn Investments.
Vulture Capitalist.


Have I played the Coin?... It's cute but it is too damned easy to get ripped off. Less than 5% of my portfolio was invested for a short while.

Too many people are thinking of they will all be rich and seeing the coin rise in "EPIC" levels.

Well I've got to tell you something.

Most of my conservative investments during the DoT.com era were at the 17.5% return rate.
My most aggressive investment in the DoT.com was 62%. Yes 62% return rate and yes it was HIGH RISK, but...

I... Made... Money...

It was an obscene wild ride, busting a hump to invest 25% of my portfolio into DoT.com stocks. I got an average of 3 hours per day of sleep during that time. Because there was money to be made and I understood the dangers of losing all of that hard work if the market suddenly went T!T's up.

I invested into the wildness of the DoT.com for 4 years. 4 long... hard... years... Then with the wonders of the super highway back then I cashed out 6 months before the Recession hit @2000.

I took my NET profits and put it in a fix rate of 7.5%. And that lasted for 7+ years.
Example If we take 100K for 7 years @ 7.5% Rate = 168K total amount in that account. My investment into that account was far far more than that. So yes. I know the game and I know it well.

But even though I did my research, I lost 4 years of my life. 4 hard years of financial insanity and I will never do that ever again. Ever... There is NO SUCH thing as getting to be rich is easy. You have to work hard for it.


I'm far more conservative in my investments now since I'm older than dirt. And still making NET profit. I did it pretty much by the fundamentals.

NOW...

Can we remember ENron and what happen to that company?
Of course we can.

Can we remember Sam Bankman-Fried and what happened to him and his company?
Of course we can.

Paper stocks, digital coin are nothing until you cash it out and I don't care about how much money you can make on paper/digital. It's nothing until you cash it out.

Then, when you get reports of hundreds of billions of dollars suddenly disappear from Bitcoin, it's not safe.

BitCoin to me is similar to what happened during the 90's. A way to make money by the very very few.

Here's a video on the subject and it's pretty much spot on.

It's Your money. You do what you want to do with it.

But as someone who has survived 5 economic down turns, do your research before you invest.

When you buy Gold on the market are you actually buying product?

Most of the time. No.

Which is why I do not invest into gold at this moment. I'll invest into other metals such as copper, nickle etc, when I get the urge to do something, but again if I wanted Gold or Silver I wanted it in my hands and not in a certificate.

Here's a video on scamming on precious metals.

 

[Vya Domus]

Are you seriously comparing gold with what may turn out to be fads?

I am asking if it's 17 trillion estimated total value reflects it's uses in semiconductors, etc. I don't think it does, it's worth that much because it's a good store of value and people use it as such.

 

[ty_ger]

I think the meme culture is massively short-sighted and this is a speculative predatory market (ponzi scheme).
The thing is that either everyone is going to make money and therefore no one is going to make money, or you are going to get out at the right time before the last buyer screws up and trusts you.
Make sure you get out when it makes sense, and diversify.
Everything feels like a rocket at the moment, but I can assure you that hard times are ahead. No one can say when, but the clouds keep building.

 

[Vya Domus]

speculative predatory market (ponzi scheme).g.

Not everything speculative is a ponzi scheme lol, gold for instance is a speculative asset amongst many other things.

Also ponzi scheme assumes there is an actual system and actors behind it. BTC isn't a business, it's not generating money, everyone knows it's not generating money, there is no group of people trying to obfuscate it's inner workings, it's bizarre to call it a ponzi scheme when there is quite literally no scheme behind it.

 

[ty_ger]

Not everything speculative is a ponzi scheme lol,

It is when it's value is solely based on others buying it for more and benefitting the previous buyers in the process. Structually it is a pyramid.
There is no product and no utility.

 

[AnotherReader]

I am asking if it's 17 trillion estimated total value reflects it's uses in semiconductors, etc. I don't think it does, it's worth that much because it's a good store of value and people use it as such.

That's a fair point. Gold's value is due to its historic use as an asset.

 

[Outback Bronze]

There is no product

I didn't think there was supposed to be a product as its virtual. There are products that make that virtual coin though.

no utility.

You can send it all over the world within minutes. Doesn't that make it a utility?

Utility: The state of being useful, profitable, or beneficial.

Thread/

 

[R0H1T]

You can't have a world of millionaires; or a million will be worthless.

I get what you're trying to say but what the eff is this

You can send it all over the world within minutes. Doesn't that make it a utility?

Utility: The state of being useful, profitable, or beneficial.

Thread/

You can do that with UPI/IMPS within seconds #endcryptofad

 

[Vya Domus]

It is when it's value is solely based on others buying it for more and benefitting the previous buyers in the process.

This is how every appreciating asset works.