Buying Property - is it worth bothering?

Herzlos

westernpromise wrote: »

Nobody has ever come up with an intelligible explanation (to me) of what a Bitcoin is or why it is valuable.

It's an appreciating resource that can be transferred securely between anonymous points. It's only real value is in scarcity, and once people lose confidence in it or can't actually 'spend' it, it's value will fall off a cliff. It would have been a great investment 10 years ago, but it's getting very risky now.

It's also a nightmare to cash out later if you need it.

GreatApe

If bitcoins were so great why is there so much advert spending on promoting it?

Maybe its partly to do with my search history but YouTube and adds on website are promoting bitcpin. Someone is paying for those adverts they don't host them for free.

Its a ramp the existing holders are paying for adverts for more people to pump money into it. If you own $1 billion in bit coin then spending $100 million on adverts to try and pump the price to double what it is will be a good investment if it pays off. Also the general media almost all outlets are reporting on its price going up and up. More free advertising pulling more people in

Its a pure bubble and a ponzi. That doesn't mean the price won't go up 10x but it does mean you are risking all of your 'investment' on the hope of there being a lot more headroom left in this ponzi.

I think this one has a lot of time to go. I can see a dozen pump and dumps each one lasting years before the public are aware sure it goes up a lot then it crashes a lot you might as well go to a casino and place bets on black.

The real very negative of this ponzi is the actual resources literally bunt to feed it. Eg the train loans of coal to power the power stations that feed the warehouses of computer chips doing the mining for poitless calculations

economic

GreatApe wrote: »

If bitcoins were so great why is there so much advert spending on promoting it?

Maybe its partly to do with my search history but YouTube and adds on website are promoting bitcpin. Someone is paying for those adverts they don't host them for free.

Its a ramp the existing holders are paying for adverts for more people to pump money into it. If you own $1 billion in bit coin then spending $100 million on adverts to try and pump the price to double what it is will be a good investment if it pays off. Also the general media almost all outlets are reporting on its price going up and up. More free advertising pulling more people in

Its a pure bubble and a ponzi. That doesn't mean the price won't go up 10x but it does mean you are risking all of your 'investment' on the hope of there being a lot more headroom left in this ponzi.

I think this one has a lot of time to go. I can see a dozen pump and dumps each one lasting years before the public are aware sure it goes up a lot then it crashes a lot you might as well go to a casino and place bets on black.

The real very negative of this ponzi is the actual resources literally bunt to feed it. Eg the train loans of coal to power the power stations that feed the warehouses of computer chips doing the mining for poitless calculations

i have seen adverts on the tube about trading crypto as well.

GreatApe

Electrum wrote: »

You buy when property is undervalued not when it overvalued.

Property always goes from undervalued to overvalued and back again.

At the moment its very overvalued, but it will swing back.

at the moment you should be buying bitcoin, its still very undervalued at $10,000 per bitcoin.

Buy with both hands whiles it still under a million per bitcoin, your kids will be grateful

At $170B market cap it is hysteria

I don't think it could go up 100x from here that would be $17 trillion market cap which is absurd.

Also volume is important. How fast the price moves on the same day indicates it is price set at tiny volumes. It isn't really worth $170 billion if trying to transact $1 billion halves its price.

GreatApe

...:

economic wrote: »

i have seen adverts on the tube about trading crypto as well.

Crazy

westernpromise

Herzlos wrote: »

It's an appreciating resource that can be transferred securely between anonymous points.

This is completely circular. It's valuable because it's valuable? In what sense is it a resource? That's a bubble.

lisyloo

Is it worth bothering?

I'd say it's a bit like work and old age.
PITA but better than the alternative.

westernpromise

Electrum wrote: »

Buy with both hands whiles it still under a million per bitcoin, your kids will be grateful

....said the long.

GreatApe

According to Digiconomist the estimated power use of the bitcoin network, which is responsible for verifying transactions made with the cryptocurrency, is 30.14TWh a year

Ridiculous.

1 million tons of coal burnt per month to feed this ponzi its electricity.
Just the current electricity cost is exceeding £1 billion a year

For those who are praying that it goes up 100x are you aware it would more or less mean the electricity demand will also go up 100x?

£100 billion a year in electricity? 3000 TWh of electricity per year? That is 10 x the whole UK grid !!!!!!. 100 million tons of coal per month to feed it!

While ponzi bubbles are dificult to predict I can state this much for sure, it aint going to go up 100x and sustain it. I doubt it even has 10x headroom from this point.