BITCOIN

Scottex99

https://open.spotify.com/episode/5QXcfQVQjdZzjXuhapb0JL?si=38f8389160474807

This is a good listen.

And ironic in that must people that have been in crypto for a couple years would very rarely use Coinbase. They might use CB Pro to get some fiat in

Zola.

I dislike Brian Armstong, primarily as he is unashamedly in the business of shilling as many sh*tcoins as he possibly can, knowing full well most are outright scams for the vast majority and most of his customers will lose a lot of money in the process (more fool them for not knowing what they are doing).

He also tried to get involved with some greedy Bitcoin miners back in 2016 and sided with some who wanted to change the Bitcoin protocol to make blocks bigger, which could have been detrimental to Bitcoin, which can be seen by the subsequently failed Bitcoin forks. 

HCIMbtw

cheapskate1983 said:

Pearce7630 said:

Is investing in Bitcoin really worth it or is it all just a scam ? 

As someone who has made well over 6 figures in Bitcoin and other cryptocurrencies in the last 2 years I can tell you that the vast majority of the cryptocurrency market is a scam. Proof is in the picture below: Not bragging, just being up front and genuine..

1 of my many portfolios. 

The question you should ask yourself is are you willing to research the market and find out which cryptocurrencies are genuine stores of value?

There are a lot of snake oil salesmen in the crypto-market. Everything from signal groups to exit liquidity pumpers. 

I've been in the market since Feb 2019, after I had to write a huge essay for my Open University Comp Sci degree.

I've became friends with a lot of great influential people including the legendary twitter bear 'Cryptowhale'. Proof below. Big picture.



To put it bluntly the whole cryptocurrency market is propped up by a stabelcoin called Tether and IT IS NOT BACKED 1 for 1 against the Dollar. Tether cash reserves are about 3% and currently they are scrambling to create Bonds with El Salvador to try and fix their phony balance sheets. 

Bitcoin is a bad investment choice right now. Especially at the current price. 

From July 2021 to the current day the volume against the USD and GBP was terrible low but volume in Tether is high. 
Tether have been printing non stop to keep the Bitcoin price up. 

The Bitcoin metrics which you can view on the website Coinmetrics dot io show the real truth of the Bitcoin market and the future price of the network in the coming months. Big wallets have been dumping on retail investors since 2018!!


 
Ethereum is also in a similar position as Bitcoin to April 2020 so please don't invest in that. You will get rug pulled and rekt. 

I'm in the top 0.2% of XRP wallets and I've been through a lot of hard market plays. I can tell you that every person in crypto will try and shill you the coins that they hold. Im not tell anyone on here what to buy because YOU NEED TO DO YOUR OWN RESEARCH.

Being a free thinker and literally learning about the cryptocurrency market is the best weapon you have in making money in this market. 

An easy method to make money in Bitcoin is buy when there is extreme fear and sell when there is moderate greed. 
Red line = greed
Green line = fear.



Hope this is helpful. 

The only part of this I can agree with is - Most crypto is a scam & big wallets have been dumping on retail investors since 2018.. 

XRP is basically a centralised currency, huge % ownership across the management team of ripple, huge amount (circa 40%) held in escrow to be released at the management teams discretion... Its a really polarising crypto, but firmly in the trash tier for me and I just see that people are gambling on the SEC case... sure has upside potential but far greater chance of rug pull/whale dumping/price manipulation with this. 

All your talk about tether just sounds delusional to me.. 'The whole crypto market is held up by tether' you are trying to argue a currency with 73bn market cap is the only thing holding the crypto market, e.g. BTC and ETH prices? their respective market caps are more like $1.4tn.. I mean its just obvious how little sense that makes 

buying btc/eth right now.. Eth is in a funny place, a victim of its own success, gas fee's going to hurt it, but so much locked up and still demand for the float... SOL is far better placed to see mid term growth in my opinion. I don't think current prices for BTC or ETH are bad though, I'm still DCA'ing in.. In 8 months time I expect to be down big, but in 5 years time I expect to be far more up.. im less trader, more hodler though, so demands on your objectives

Both BTC and ETH are seeing big gains in interest from institutional investment, there is a chance a rocket goes off anytime which is why i'd rather DCA and have some skin in the game 

Scottex99

Yeah gas fees are insane and pricing out most retail people but I also like the argument that that's the price you pay to be on the best chain, so its not all bad. ETH 2 (whenever that actually happens) should fix some of it, maybe.

XRP, I agree. I personally know people that say their ODL is actually very cool for cross border/settlements etc but for me proof is in the pudding. My desk does c.20m of stablecoin volume every single week, whether against fiat or other crypto... And i've never done an XRP OTC trade.

Still stacking BTC and ETH here too, despite the prices, could see a 4-5x for both still

Zola.

https://www.bitchute.com/video/rUiqtHqvlwiF/

If this interview doesn't make you curious/bullish on Bitcoin as a hedge, nothing will. 

adindas

Zola. said:

https://www.bitchute.com/video/rUiqtHqvlwiF/

If this interview doesn't make you curious/bullish on Bitcoin as a hedge, nothing will. 

What you need to keep in mind is that, the debate about whether the earth is flat or round has been around since a few hundred years ago and there are still people who believe that the earth is flat.

In my previous post I have presented the statistical data about the distribution of BTC and other major cryptos, where no one own more than 5% of BTC. There are still some people on this thread, the most vocal one keep arguing that someone who enginneer the scheme will finally pull the rug under making the scheme to collapse.

There are still people who believe that Major Crypto such as BTC, ETH is “The greater fool Theory”

There are still people who believe that those multi billionaires who invest in bitcoin, those who understand from both sides the technological side and the investing side have fallen into the greater fool theory as they still buy BTC, ETH even when the price is already US$40k+, some are even buy it recently  when the price already $50k+. I have named some of them in my previous posts. Keep in mind these people are multi billionaires who have track record making multi billions usd. They are not the original creator of this major cryptos.

This is another Example

https://www.forbes.com/sites/jonathanponciano/2021/11/29/microstrategy-bitcoins-biggest-corporate-investor-buys-another-414-million-as-omicron-variant-puts-crypto-prices-under-serious-pressure/?sh=4eb182b72103

In the past I have proposed the following test

If you are offered a voucher of full English breakfast value of £25 or one bitcoin (£0 based on some people on this thread), which one you choose???

Surprisingly those who said BTC has very less or no value have chosen BTC over full English breakfast. The Others who have responded have also chosen BTC. It makes me chuckles, rofl ....

Now let make the option to be more attractive, using 100x multiples.

If you are offered a voucher of holiday in Caribbean or In Bali with full English breakfast value of £2,500 or one bitcoin which one you choose???

I posted Matt Damon video “Fortune Favour the brave” I got attacked by typical vocal BTC haters who might think they have missed the boat.

Keep in mind in investing, the risk will always get involved as you might lose your original money you put in investment. If you do not want to take a risk then bond/saving is probably the best for you as long as you are happy to get <1% pa while other people make them in avarage of just a few days. You take that decision when choosing between Bond/Saving vs investing. But taking the risk is not necessarily a gamble if you do your own DDs and conclude that the Reward is overwhelmingly in favour of the risk.

Scottex99

Zola. said:

https://www.bitchute.com/video/rUiqtHqvlwiF/

If this interview doesn't make you curious/bullish on Bitcoin as a hedge, nothing will. 

The figures in the middle are insane.

Saylor the new crypto king after Musk started being a freak

HHarry

adindas said:

in the past I have proposed the following test

If you are offered a voucher of full English breakfast value of £25 or one bitcoin (£0 based on some people on this thread), which one you choose???

Surprisingly those who said BTC has very less or no value have chosen full English breakfast value of £25 over BTC. Other who response also have chosen BTC. rofl

Now let make the option more attractive, using 100x multiples.

If you are offered a voucher of holiday in Caribbean or In Bali with full English breakfast value of £2,500 or one bitcoin which one you choose??? 

But it’s still a terrible test - everyone is going to take the Bitcoin because they can sell it immediately for £40k.

The value element comes with a time frame.  Where is the value that means that Bitcoin is still going to be worth £40k+ in 1/5/10 years time?  That’s what some, me included, struggle to see.  It might be the underlying usefullness of the Blockchain technolgy but, as I asked in a previous post, is that technology reliant on Bitcoins?

Scottex99

The technology, whether that's POW/POS or just the general Blockchain technology doesn't necessarily need or have to be tied to BTC.

But the BTC scarcity is already built in through the halvenings, the mining, etc. That's what the pro camp see as giving it the value long term. And actually not just retaining value but increasing and probably in a compound manner.  

It's hard money and inflation proof, as it gets more scarce (or harder to obtain)...number go up

adindas

HHarry said:

But it’s still a terrible test - everyone is going to take the Bitcoin because they can sell it immediately for £40k.

The value element comes with a time frame.  Where is the value that means that Bitcoin is still going to be worth £40k+ in 1/5/10 years time?  That’s what some, me included, struggle to see. 

Well, the debate of the future value of an asset is subject to another debate as noone has a crystal ball. The blue-chip value stock with an excellent P/E ratio could turn to be a disaster in a short term or even a long term. Just look at Alibaba (BABA). In term of fundamental analysis who could fault BABA. But who could predict what C.C.P would be doing, who could know what they might do in the future even it will mean, it will destroy their own economy, company, making a lot of chinese people losing their job, poorer for the sake of ideology.

But the fact you said that you could easily sell it at $40k at least you acknowledge that many people believe that BTC has value of at least $40k+. Also just keep in mind the value of volatile assest could change in less than a second, so not immediate like you might think. So you still need to weight the risk vs reward between the two options  a voucher of holiday in Caribbean or In Bali with full English breakfast value of £2,500 or one bitcoin.

There is always be a risk in investing as you might lose your original money you put in investment. If you do not want to take a risk then bond/saving is probably the best for you as long as you are happy to get <1% pa while other people make them in avarage of just a few days. You take that decision when choosing between Bond, Saving vs investing. But taking the risk is not necessarily a gamble if you do your own DDs and conclude that the Reward is overwhelmingly in favour of the risk.

When TESLA was $1,000 before the stock split (e.g. $200 equivalent now) about a year ago, many people including few analysts, including some people here on MSE who talk a lot about investing said they were a very bad investment, they were extremely overvalued. See where TSLA is now. It multiplies your money 5x+. The valuation of an asset will always depend on people beliefs, DDs, knowledge and what they have concluded. Learn from everyone but trust noone but yourself when investing your own money.

HHarry said:

It might be the underlying usefullness of the Blockchain technolgy but, as I asked in a previous post, is that technology reliant on Bitcoins?

Noone duty here to convince you. I and other people have posted a lot of educational videos links regarding blockchain, BTC from a short version to a full lecture series. Find it, learn it and draw your own conclusion.

Zola. said:

@Malthusian definitely appears to have/had some bitcoin or at least interest in it (I noticed he/she didn't answer this before when I asked directly), seems to have at least partially gone down the rabbit hole, but has maybe sold or held on and is frustrated.

Some people here on MSE talk a lot about investing, but there is no evidence they beat market. I know the feeling of missing the boat. rofl.

If you just want the market return all you need to do is to throw your money regularly into S&P 500 and forget. Just revisit them when you get retired. No need to learn a new thing, no need to listen bla bla of people lecturing you about investing.

The fourth industrial revolution featured in high growth stocks make it possible for people with average capability, who believe “fortune favours the brave” want to learn a new thing to beat the market. There are reasonable number of retail investors make a return of 30%+ pa nowadays. But this is not to suggest that everyone could do it. But you will never know what you are capable of when you have not tried it.

The proliferation of near zero platform such as eToro, Trading 212, Robinhood, Freetrade, WeBull, Stake, MooMoo make it easier for this to be realised. Believe what you want. It is no one duty here to convince other people. But do not call people a liar just because you do not put any effort to find that evidence. In the past I will need to search evidence although it took me sometime to find it but it is much better than you are called a liar.