Bitcoin

[2531usmc]

6.5% What the heck is going on?

Seems to be no news driving the selling

 

[Beendare]

From Reddit:

“If I put $100 in Bitcoin in 2010 I’d have $2.8B now.”

......

The world is full of "What Ifs"

What if you would have bought Microsoft on the IPO....or any number of obscure things that made it big?
Bitcoin was relatively obscure when it was below $100.

Bitcoin is well known now......and any investment thesis needs to factor that in.

I see the two main factors as;
1) there are a lot of people with some massive gains in Bitcoin
2) will it go main stream and be accepted as currency

Bitcoin could easily fizzle if the folks that have huge gains scramble to cover in a big downturn- thats just basic human psychology.

I revaluate my investments continually asking myself,"Would I buy it now at this price?"
[FWIW, I don't consider Bitcoin an investment as you don't own anything to evaluate, its made up currency with no backing]

Back when Bitcoin was $5 you didn't have much to lose, now at $80,000 or so, it's different.

The guys that owned it way back when are counting on others to keep buying it....but it's self limiting at these high prices....plus the volatility....... which will act as a cap on the price. Guys buying now need to realize that. The fact the big trading companies are getting involved just indicates there will be more trading in it with bets trying to make money off the volatility.

 

[rickyw]

https://finance.yahoo.com/news/strategy-unveils-dollar-soothe-bitcoin-134335226.html

 

[fmyth]

6.5% What the heck is going on?

1. Japan bond market is imploding. (This has been brewing for a while now)

2. China warned of a resurgence in crypto speculation and vowed a stricter crackdown, especially on stablecoins. (umpteenth time this has happened)

3. Market makers took the opportunity to wipe out 2B of leveraged longs. (Happens every time leveraged longs reach a new high)

 

[Silver Wings]

6.5% What the heck is going on?

Just watch a few videos on the 4 year cycle. This should not be a surprise to anyone who’s held BTC for more than a minute.
I believe that no one who’s held BTC for 4 years has never lost money still holds true. So if you bought near the top of this cycle just hold it and don’t sweat it. Add when you can to get your average down.

 

[MountainTracker]

Black Friday sale

Cyber Monday sale


Sent from my iPhone using Tapatalk

 

[eddielasvegas]

How low will it go?


Eddie

 

[IdahoElk]

The Ponzi scheme is unraveling.

 

[fmyth]

$11 trillion Vanguard to finally allow clients access to Bitcoin ETFs starting tomorrow. Vanguard is the second-largest asset management company in the world.

 

[fmyth]

The Ponzi scheme is unraveling.

Wrong. Ponzi schemes are a specific type of investment fraud with several defining characteristics, all of which Bitcoin lacks:

No Central Authority or Fraudster: A Ponzi scheme requires a central person or entity (like Charles Ponzi or Bernie Madoff) who orchestrates the fraud and controls the flow of money. Bitcoin is decentralized, run by a transparent, open-source computer protocol with no central management, CEO, or single controlling entity.

No Promised Returns: Ponzi schemes promise high, guaranteed returns with little or no risk to attract new investors. Bitcoin offers no such guarantee; its price is highly volatile and determined by the open market forces of supply and demand, meaning its value can go down significantly.

Transparency vs. Deception: Ponzi schemes rely on secrecy and deception about how profits are generated, often claiming complex or proprietary strategies. Bitcoin's operation is completely transparent, with all transactions recorded on a public ledger (the blockchain) that anyone can audit.

Not Reliant on New Money for Payouts: In a Ponzi scheme, returns for early investors are paid exclusively with the capital from new investors. Bitcoin's value is derived from a consensus of its users who find utility in its properties as a scarce, decentralized, censorship-resistant digital asset. While new adoption affects demand and price (like any asset), the network itself does not collapse if new adoption stalls, as demonstrated by its survival through multiple bear markets.

 

[2531usmc]

I’ve been following BTC for a few years now and have yet to buy any. Fundamentally, I have no idea what I would be owning outside of a software algorithm.

I’m now seeing these wild swings in price with no apparent news for the selling.

My guess is that BTC is little more than a very highly leveraged arbitrage for the banks and hedge funds. The smart money will sell while the small investor gets crushed.

Hope I’m wrong…..

 

[Silver Wings]

The Ponzi scheme is unraveling.

Yes!
It’s been unraveling every 4 years since inception, smart of you to stay out

 

[fmyth]

I’ve been following BTC for a few years now and have yet to buy any. Fundamentally, I have no idea what I would be owning outside of a software algorithm.

I’m now seeing these wild swings in price with no apparent news for the selling.

My guess is that BTC is little more than a very highly leveraged arbitrage for the banks and hedge funds. The smart money will sell while the small investor gets crushed.

Hope I’m wrong…..

Well if you had purchased BTC a few (3) years ago, instead of just following it, you'd own a digital asset that has increased in value by 408% and you wouldn't care about the "wild swings in price".