Let's talk about Cryptocurrencies

[topfiverecords]

Originally Posted by Calgary14

Netflix has a very interesting and new documentary on Bitcoin called Bitconned

It's not about Bitcoin though. It was about a scam ICO for Centra, a "company" that was faking that they were developing a Visa card that could be used to live spend cryptocurrency.

[Fuzz]

Originally Posted by Roof-Daddy

If I'm not mistaken Bitcoin has been around 15 years as of today exactly.

It's lowest price ever was $0.05 a year and a half later.

It's highest price was $85,656.04 and it's current price is $62,745.38

Been around for quite a long time and seen some massive price appreciation for something that is supposedly useless.

The crypto cycle lasts about 4 years, and it's about to go into another bull market if you believe the cycle will repeat once again.

Anyone putting money into crypto right now might see 100's or even 1,000's of X's on their initial investment over the next year to a year and a half. Or not. Time will tell I guess.

But why? Yes, the ETF thing is a thing. But it doesn't give Bitcoin value, it just makes it easier to get into. If you buy Bitcoin, you must understand it's value is nearly 100% predicated on what others think it is worth. You are at the mercy of other speculators and gamblers. So if you think enough people are willing to run the price up, it may be a way to gamble with an edge. But then you also need to sell. And if you think the value will only ever increase, it doesn't make sense to ever sell, right?

[Roof-Daddy]

Originally Posted by Fuzz

But why? Yes, the ETF thing is a thing. But it doesn't give Bitcoin value, it just makes it easier to get into. If you buy Bitcoin, you must understand it's value is nearly 100% predicated on what others think it is worth. You are at the mercy of other speculators and gamblers. So if you think enough people are willing to run the price up, it may be a way to gamble with an edge. But then you also need to sell. And if you think the value will only ever increase, it doesn't make sense to ever sell, right?

I don't think the value of anything ever only increases. The price of bitcoin is always fluctuating but over time the hope would be that it's price will continue to rise.

As with anything, It makes sense to sell when you've made a profit. You certainly don't have to sell all of your holdings though, especially if you think the price will continue to appreciate over time.

[Fuzz]

But you recognize that increase is almost 100% due to speculation of value, vs intrinsic value, and that your potential for profit is driven by human psychology alone, right?

[dino7c]

Originally Posted by Fuzz

And yet none of the issues around the functionality or usefullness of Bitcoin have been addressed. NFT's were rightfully mocked, and look at them now. Bitcoin still has no intrinsic value, so it is only driven by people speculating others believe it has more value than you payed. That's it.



And you didn't answer my question if you sold all your BTC before the last crash, oh great oracle.

Never have I said I am the great oracle

you are the one who has called it dead 50 times and keep doubling down again and again. Mocking someone that has lapped the market 100 times over.

just saying I know who I would go to for advice in the space

Would you go with the broke financial planner who mocks those who have done well or the one with the million dollar track record?

nobody bats 1000, and I did answer...I'm not selling and probably never will this is 1920s New York real estate...we might have the dirty 30s at some point but I intend to leverage my BTC. Why would I sell for cash that is printed daily?

These opinions are subject to change and I'm not saying it will go up in a straight line forever...in fact if you actually read instead of mock it is a cycle and follows an established pattern.

Anyway this thread is to discuss, if you don't want to me to "brag" don't mock me when you have been wrong 100% of the time and I have been right 90% of the time.

The Bitcoins I hold now I paid $1100 for, like you think I'm going to lose?

You guys #### on basically every post in here...if you hate crypto so much get lost, you just sound butthurt

[topfiverecords]

Originally Posted by Roof-Daddy

I don't think the value of anything ever only increases. The price of bitcoin is always fluctuating but over time the hope would be that it's price will continue to rise.

As with anything, It makes sense to sell when you've made a profit. You certainly don't have to sell all of your holdings though, especially if you think the price will continue to appreciate over time.

Hope that hope is enough.

[Fuzz]

OK, so Dino7c isn't as fantastic as he thinks he is, given he didn't sell before the last crash, and thinks this is somehow the same as real estate, which is an actual tangible thing.

It's gonna keep gong up because it's gonna keep going up! is a solid strategy. Good luck with that one. Maybe you can buddy up with some BBY and GME "investors".

It's fine if you want to actually discuss these these things, and what their value and use is, but you don't, you just pop in whenever the value takes off. So, has BTC added any functionality, or improved it's transaction rate, or become useful in any way other than ETF's maybe being another way to gamble?

[Roof-Daddy]

It's pretty funny trying to watch somebody dunk on a guy who's looks to have already won the game.

I don't know dino7c but I think it's pretty clear he's already cashed out way more than he ever put into it and is waaaaaay up, and always will be. If he's in the position I think he's in Bitcoin could go to zero tomorrow and he'd still be laughing.

Here's the thing though, it isn't going to zero anytime soon, if ever. Folks have been saying that for over a decade while other folks have ignored the FUD, put money into it and made huge profits.

[Azure]

lol, SEC account posts that ETFs are approved, then posts again that the account was hacked and nothing is approved.

What a clown show.

But given likely approval, people holding BTC will be much happier than the people bitching in this thread about the people holding BTC.

[Azure]

Originally Posted by Fuzz

OK, so Dino7c isn't as fantastic as he thinks he is, given he didn't sell before the last crash, and thinks this is somehow the same as real estate, which is an actual tangible thing.

It's gonna keep gong up because it's gonna keep going up! is a solid strategy. Good luck with that one. Maybe you can buddy up with some BBY and GME "investors".

It's fine if you want to actually discuss these these things, and what their value and use is, but you don't, you just pop in whenever the value takes off. So, has BTC added any functionality, or improved it's transaction rate, or become useful in any way other than ETF's maybe being another way to gamble?

I have no idea what the value of BTC is or should be, or if it improves anything in the world, but we can say that for a lot of things, and much that is valued in this world should likely be in fact valued at 0.

I personally don't find it strange that digital currency would be valued given the direction of the world, or that people have decided that BTC, which has really stood the test of time has perhaps the technology that makes it valuable as far as digital currency goes.

I also don't get why Facebook is valued at almost $2 trillion, but hey, where we are.

[Table 5]

Fuzz has made a lot of valid points about bitcoin/crypto over the years.

And yet, I'd still rather be in dino7c's shoes.

Theory and reason is important... but at some point, you gotta respect the scoreboard.

[Fuzz]

And I'm not trying to dunk on anyone, just pointing out reality. Did lots of people make money speculating on BTC? You betcha. Did a lot of people lose money? You betcha. That's how it works.

[GGG]

Why is the US ETF a big deal when you can buy it in a Canadian one which the US has access.

And if it is imminently being approved shouldn’t that already be mostly priced into the market price of bitcoin? Ie buy the rumour sell the news?

[GGG]

Originally Posted by Table 5

Fuzz has made a lot of valid points about bitcoin/crypto over the years.

And yet, I'd still rather be in dino7c's shoes.

Theory and reason is important... but at some point, you gotta respect the scoreboard.

Being early in on bitcoin certainly was a high risk high reward play. That that play was successful in no way means that bitcoin would continue to be successful. We also know that DinoC is not as bullish as he appears given he didn’t Yolo all his money into bitcoin.

His real position would be put a portion of your net worth you are willing to lose into bitcoin. In fact we know from this thread he has sold some of his bitcoin stake.

The certainty in which people post doesn’t match their actions.

[topfiverecords]

Originally Posted by Azure

lol, SEC account posts that ETFs are approved, then posts again that the account was hacked and nothing is approved.

What a clown show.

But given likely approval, people holding BTC will be much happier than the people bitching in this thread about the people holding BTC.

Nobody is bitching about people holding BTC.

[topfiverecords]

Originally Posted by GGG

Why is the US ETF a big deal when you can buy it in a Canadian one which the US has access.

And if it is imminently being approved shouldn’t that already be mostly priced into the market price of bitcoin? Ie buy the rumour sell the news?

It will give institutional investors another lever to manipulate the crypto market and make massive profits off the backs of regular people.

[Table 5]

Originally Posted by Fuzz

And I'm not trying to dunk on anyone, just pointing out reality. Did lots of people make money speculating on BTC? You betcha. Did a lot of people lose money? You betcha. That's how it works.

Well sure, but that's how the game is played across the board. Every seller needs a buyer (and vice versa), so naturally some win and some lose. If you know of an investment with only upside, for everyone involved, please share.

There's no doubt Bitcoin has lost, and probably will still lose, plenty of people money. But plenty of great companies have cratered and lost people money too. How many people do you think lost their homes after the tech bubble, when Amazon lost like 90% of its value? Not that long ago, Meta fell 65% in 2022, I bet you plenty of people puked right at the bottom. I have a feeling a lot of people are going to be losing money on NVDA at some point too. Perhaps the same with Apple, which has had 4 quarters of zero growth, and is still close to all time stock price highs. These may all be amazing or terrible investments, it all depends on your point of view and when you own them. And speaking of terrible investments, the value of the USD has fallen something like 86% since 1972...what maroon would own that asset?

Somewhere between "this is all a scam" and "bitcoin is life" lies reality, which leaves plenty of room for greed and speculation on both sides. Not everything has to be a buy-and-hold investment, or to make sense for the long term... it just needs to make sense long enough to make some profit. If people understand the risk profile, and position accordingly, I think there is room for Bitcoin in people's portfolio.

Btw, I don't know any atm. I wish I did though.

Originally Posted by GGG

We also know that DinoC is not as bullish as he appears given he didn’t Yolo all his money into bitcoin. His real position would be put a portion of your net worth you are willing to lose into bitcoin. In fact we know from this thread he has sold some of his bitcoin stake.

Anyone who YOLOs all their money into only one thing or sector, is a moron. You can be a true-believer, while still not being dumb enough to push all your chips in.

I mean I don't really know dino, but it sounds like he made a great return from a small amount of capital, and took some profit. Isn't locking in gains supposed to be the prudent thing to do?

[Table 5]

Originally Posted by topfiverecords

It will give institutional investors another lever to manipulate the crypto market and make massive profits off the backs of regular people.

The creation of sector ETFs is also traditionally a classic signal of a top (and inversely, when sector ETFs get delisted...usually a great time to buy).

[GGG]

Originally Posted by Table 5

Well sure, but that's how the game is played across the board. Every seller needs a buyer (and vice versa), so naturally some win and some lose. If you know of an investment with only upside, for everyone involved, please share.

There's no doubt Bitcoin has lost, and probably will still lose, plenty of people money. But plenty of great companies have cratered and lost people money too. How many people do you think lost their homes after the tech bubble, when Amazon lost like 90% of its value? Not that long ago, Meta fell 65% in 2022, I bet you plenty of people puked right at the bottom. I have a feeling a lot of people are going to be losing money on NVDA at some point too. Perhaps the same with Apple, which has had 4 quarters of zero growth, and is still close to all time stock price highs. These may all be amazing or terrible investments, it all depends on your point of view and when you own them. And speaking of terrible investments, the value of the USD has fallen something like 86% since 1972...what maroon would own that asset?

Somewhere between "this is all a scam" and "bitcoin is life" lies reality, which leaves plenty of room for greed and speculation on both sides. Not everything has to be a buy-and-hold investment, or to make sense for the long term... it just needs to make sense long enough to make some profit. If people understand the risk profile, and position accordingly, I think there is room for Bitcoin in people's portfolio.

Btw, I don't know any atm. I wish I did though.




Anyone who YOLOs all their money into one only one thing or sector, is a moron. You can be a true-believer, while still not being dumb enough to push all your chips in.

I mean I don't really know dino, but it sounds like he made a great return from a small amount of capital, and took some profit. Isn't locking in gains supposed to be the prudent thing to do?

Absolutely it’s the prudent thing to do if you believe there is a risk to your investment. You don’t really lock in gains from your index ETF. You lock in gains from your read of the market paying off when you believe the growth has out stripped the current risk. Which is essentially the point his certainty in his posts does not match his actions.

I get why he does that as he has taken #### for years in this thread while essentially making at least 1 million on btc.

Now Fuzz’s certainty in his posts doesn’t make sense either.

[Winsor_Pilates]

Originally Posted by GGG

Why is the US ETF a big deal when you can buy it in a Canadian one which the US has access.

And if it is imminently being approved shouldn’t that already be mostly priced into the market price of bitcoin? Ie buy the rumour sell the news?

I sold my Bitcoin yesterday.
I'm betting it's around its current peak & didn't want hold out more.
Could very well be wrong, but had a better use for these finds right now so willing to take that chance.

The arguments about the function of Bitcoin are long gone. I used to be like that, but soon realized it didn't matter.
What's the function of a Faberge Egg? Some things just have stupid value due strictly to demand.