BITCOIN

bugbyte_2

Deleted_User said:

Invested in a little bit to give it a try. That was when it was at it's last peak - since then it's plummeted again. But It was only £100 that I can afford to lose so I'll leave it there and see what happens. 

Honest post and a sensible approach. At the end of the day its the volatility of crypto price that draws in the money so you spin the wheel and see what happens. If people just admitted that then this thread would be a lot shorter but I would miss the comedy value.

I think the Russian invasion and subsequent price decrease of BTC has put to bed any notion of BTC being liquid gold, a store of wealth or hard money - because if it was any of those things most of the money in Eastern Europe would be rushing towards it. Might be a buying opportunity but not for me as ethically it is terrible and it is impossible to do any kind of realistic value analysis*

*Unlike stocks which I made a move on yesterday but I'm only down 2.5% so  not end of world.  

Thrugelmir

Hexane said:

Hexane said:

Deleted_User said:

Invested in a little bit to give it a try. That was when it was at it's last peak - since then it's plummeted again. But It was only £100 that I can afford to lose so I'll leave it there and see what happens. 

perfect

Just so we can check in later, one bitcoin is allegedly worth US$34,815.26 right now.

That's slightly down on the estimation of our regular commentator Scott, who works in the industry, and assured us months ago (when bitcoin was around US$60,000) that it was going to US$100,000 really soon.

and those other people who..., yeah them.

I guess if you bought bitcoin based on Scott's prediction, then you lost about half your money so far.

But you could win it all back, right?

Flakey holders it appears, running for the exit doors it seems. First sign of geo political tensions and the stable reserve currency Bitcoin sheds 12%.  Meanwhile gold rises over 2%. 

Zola.

Not all that surprising given it has had a 4000 year head start as a trading commodity and is the top asset by market cap. 

A depressing day for the world and especially Ukraine

Scottex99

Thrugelmir said:

Hexane said:

Hexane said:

Deleted_User said:

Invested in a little bit to give it a try. That was when it was at it's last peak - since then it's plummeted again. But It was only £100 that I can afford to lose so I'll leave it there and see what happens. 

perfect

Just so we can check in later, one bitcoin is allegedly worth US$34,815.26 right now.

That's slightly down on the estimation of our regular commentator Scott, who works in the industry, and assured us months ago (when bitcoin was around US$60,000) that it was going to US$100,000 really soon.

and those other people who..., yeah them.

I guess if you bought bitcoin based on Scott's prediction, then you lost about half your money so far.

But you could win it all back, right?

Flakey holders it appears, running for the exit doors it seems. First sign of geo political tensions and the stable reserve currency Bitcoin sheds 12%.  Meanwhile gold rises over 2%. 

Literally nobody has ever said it was stable, including the most bullish here

Scottex99

bugbyte_2 said:

Deleted_User said:

Invested in a little bit to give it a try. That was when it was at it's last peak - since then it's plummeted again. But It was only £100 that I can afford to lose so I'll leave it there and see what happens. 

Honest post and a sensible approach. At the end of the day its the volatility of crypto price that draws in the money so you spin the wheel and see what happens. If people just admitted that then this thread would be a lot shorter but I would miss the comedy value.

I think the Russian invasion and subsequent price decrease of BTC has put to bed any notion of BTC being liquid gold, a store of wealth or hard money - because if it was any of those things most of the money in Eastern Europe would be rushing towards it. Might be a buying opportunity but not for me as ethically it is terrible and it is impossible to do any kind of realistic value analysis*

*Unlike stocks which I made a move on yesterday but I'm only down 2.5% so  not end of world.  

Plenty people have admitted to being pro risk and you basically have to be in crypto, that's no secret with the swings involved. I've been a gambler all my life and always attracted to risk. But the fundamentals behind it our sound, for hundreds of different reasons depending on which asset or which part of crypto, DeFi, Meta etc.

I agree there is no dislocation between TradFi and BTC, or at least no obvious one, right now. It's far from put to bed though. It's possible that at some point with unstable gov fiat currencies and war and various other macro things, that one day stonks and funds plummet whilst BTC pumps. It's possible, not right now clearly. Still early

User232002

Thrugelmir said:

Flakey holders it appears, running for the exit doors it seems. First sign of geo political tensions and the stable reserve currency Bitcoin sheds 12%.  Meanwhile gold rises over 2%. 

(1) Nobody expected anything different. We literally said about 5 pages back that Bitcoin is correlated to tech/growth right now but expect a dislocation at some point in the future.

(2) Gold has done a 95x in the last 100 years. It didnt manage that with zero volatility. 

Zola.

https://twitter.com/tedcruz/status/1497031845984227328

I don't like how Bitcoin is becoming a republican vs democrat thing, its apolitical code.
Nonetheless its pretty crazy that a future presidential candidate is openly embracing Bitcoin as part of his campaign trail... 

grumiofoundation

Zola. said:

https://twitter.com/tedcruz/status/1497031845984227328

I don't like how Bitcoin is becoming a republican vs democrat thing, its apolitical code.
Nonetheless its pretty crazy that a future presidential candidate is openly embracing Bitcoin as part of his campaign trail... 

He also refused to certify the election result and has claimed that climate change doesn’t exist.

Of course that doesn’t impact of the legitimacy or future of Bitcoin but maybe calls into question the value of his support? 

adindas

Black Swan Event Predicted by Palantir.
Most of you regular visitor on this thread still remember I mentioned on this thread about "Palantir" Predicted a black "Swan Event" this year and a lot of you are mocking this news. You see now what has happened.

Palantir is an AI data analytical software that was initially used by Governmental security and defense agency around the world,. But now extend its capability to business analytical. 

Scottex99

So you can just claim there will be a black swan at some point and then when there’s an invasion or some aliens appear or a dog starts talking, say I told you so? I’ve read Taleb’s book and I’m pretty sure Russia invading Ukraine doesn’t count as one (although may still tank the markets)