Bitcoin

[The_Dinkmaster]

yeah the same $ that bitcoin is priced in.

Lol good point.

I would counteroffer that it can be transferred to any world currency, however, and isnt just tied to USD

 

[ozyclint]

But it would just be converted to currency of choice via that currency's exchange rate with the $US would it not?

 

[The_Dinkmaster]

But it would just be converted to currency of choice via that currency's exchange rate with the $US would it not?

Yes. Or you can purchase things with it directly, assuming a business or person would accept it as a form of payment (several do).

And, as I have been typing this out, it sounds a lot like some of the other items we place value in.....gold, silver, diamonds, etc. It can be used as a payment method, store of value, or a way to exchange currency.

 

[ozyclint]

Not sure if it's stable enough to be a store of value. Speculation vehicle, yes. Store of value, time will tell.

 

[Behyot]

I just quickly skimmed over this thread, I've been interested in bitcoin since 2020 and have purchased a little. It looks like the typical arguments both ways have been made but I thought I'd put out my summarized feelings about it for anyone who is interested. I'm not overly educated on it and none of my input here is technical as I don't think I know enough, but I thought I'd share my simplistic view points.

I think that blockchain technology which is used in most cryptocurrencies is something that will be useful in a variety of applications in the future, Ethereum is the biggest way to do that in different ways now but all of the tokens built off of that have someone or a group controlling it. They can certainly be useful, but I see it as all of them could be replaced with something newer and better. Bitcoin is different from any other cryptocurrency because no one knows who created it so it can not be changed. All of the miners and nodes in the network use the same program and if one tries to do anything different the rest will reject it. That's where I see it as a store of value, though a very volatile one.

My finding of bitcoin was a result of not believing our government can continue to print money and keep everyone happy without severely devaluing all of the money out there, which we have seen significantly over the last couple of years. Hopefully they get inflation under control a little better, but I don't think it will ever get back to where it is truly only 2 to 4 percent a year. So alternatives way of storing valued will be used, and I think bitcoin is one of the most readily available ways. If I could easily invest in real estate I would, but unfortunately I don't have that kind of money and don't think I will any time soon. Stocks of course are great and are my primary form of investment, but bitcoin has been outperforming them for years so I figure I might as well have a portion allocated to it.

Of course I wish I had bought more in 2020 when I first started, I slowly added a little here and there, but I'm glad I got a start at least. I don't think I'll have extra money to put in any time soon as I have a young family so I don't have to consider whether now is a good time to buy in, but I also don't plan on selling as I think the potential long term benefit is greater. Only time will tell, it could collapse and I'll be left with nothing but I'm glad to be part of something that offers an alternative to the current fiat system. The only bitcoin I've "sold" was I found a gun store that accepted bitcoin and was able to purchase a pistol using only bitcoin. Since bitcoin has gone up significantly since then that gun is now worth about a third of what I paid. It's more of a collectible to me though and it's neat to know I got it using bitcoin. I'm not sure bitcoin will ever be widely accepted but at least I know I was able to purchase something with it.

 

[Historybuff]

The dollar lost 25% of its purchasing power in the last 4 years. Bitcoin is up 800% in the last for years. Of course a high performance asset like that is going to be volatile. It's still not to late to learn and buy bitcoin tho. It's on sale today. And the halving is less than 3 weeks away. Prepare for volatility to the up side! The price could hit 100k by the 4th of July. Trust me bro lol. Seriously tho. Buy bitcoin

 

[The_Dinkmaster]

The dollar lost 25% of its purchasing power in the last 4 years. Bitcoin is up 800% in the last for years. Of course a high performance asset like that is going to be volatile. It's still not to late to learn and buy bitcoin tho. It's on sale today. And the halving is less than 3 weeks away. Prepare for volatility to the up side! The price could hit 100k by the 4th of July. Trust me bro lol. Seriously tho. Buy bitcoin

If anyone wants in, get money ready. Prices will be dropping over the next week or so as people have to sell off to cover taxes the owe by the deadline. So its time to accumulate.

After that, all bets are off

 

[Dos Perros]

yeah the same $ that bitcoin is priced in.

Imagine taking a mortgage out in Bitcoin (lol).

 

[fmyth]

Not sure if it's stable enough to be a store of value. Speculation vehicle, yes. Store of value, time will tell.

This chart shows the value of BTC over the last 15 years.

 

[The_Dinkmaster]

View attachment 696458
This chart shows the value of BTC over the last 15 years.

Looks parabolic to me. I better sell now lol

 

[fmyth]

"Morgan Stanley is working to become the first major U.S. bank to offer a spot Bitcoin ETFs to all clients, according to social media reports.

With $1.5 trillion in assets under management respectively, Morgan Stanley is one of the largest wealth managers worldwide. A fully approve Bitcoin ETF trading on its platform would mark a pivotal moment for institutional Bitcoin adoption."

https://www.nasdaq.com/articles/report:-morgan-stanley-racing-to-offer-bitcoin-etfs-to-all-clients

 

[fmyth]

TD Bank Releases Commercial Explaining The Bitcoin Halving And Promotes ETFs:​

 

[Afhunter1]

Costco keeps selling out of gold bars. Experts warn rush is more ‘mob mentality’ than sound investment decision

"As a small portion of one’s portfolio, gold could serve as a hedge against inflation, but don’t bet the farm on it."

finance.yahoo.com

Wonder if Gold will crash when all these "mob mentality" buyers get over it and try to sell their bars when tey realize what bad decisions they are making.

Also curious what's going to happen to Bitcoin if the halving doesn't increase prices and people get spooked.

Might be good buying opportunities for both here soon.

 

[*zap*]

gold & silver may well keep going up at least till the election...if only we had a crystal ball....

 

[2531usmc]

Gold and bonds have almost always traded together, but now there is a pretty significant divergence.

It’s almost like somebody is expecting something really bad to happen….

 

[azwccc]

Gold and bonds have almost always traded together, but now there is a pretty significant divergence.

It’s almost like somebody is expecting something really bad to happen….

I noticed that too, gold was up 15% ytd, and long term bond down 10%+, someone knows something.

 

[*zap*]

It’s almost like somebody is expecting something really bad to happen….

Just the realists.....most folk have their head up their butt. Many folks have made lots of $ without any knowledge or work and they think they are really smart....but, alas.

 

[eddielasvegas]

Just the realists.....most folk have their head up their butt. Many folks have made lots of $ without any knowledge or work and they think they are really smart....but, alas.

Financial genius is a rising market.


Eddie

 

[Dos Perros]

Costco keeps selling out of gold bars. Experts warn rush is more ‘mob mentality’ than sound investment decision

"As a small portion of one’s portfolio, gold could serve as a hedge against inflation, but don’t bet the farm on it."

finance.yahoo.com

Wonder if Gold will crash when all these "mob mentality" buyers get over it and try to sell their bars when tey realize what bad decisions they are making.

Also curious what's going to happen to Bitcoin if the halving doesn't increase prices and people get spooked.

Might be good buying opportunities for both here soon.

Gold and silver can’t crash because miners spend a lot of time and energy getting it out of the ground.





(Lol)

 

[rearnakedchoke]

Been around for a while now and still around….