BITCOIN

Blue_Sky

This is an interesting article.
The Golden Age of Fraud is Upon Us (awealthofcommonsense.com)

IvanOpinion

TheAble said:

IvanOpinion said:

TheAble said:

IvanOpinion said:

Mt problem with Bitcoin and any of the other crypto currencies is that I just don't understand them and how they can reflect a 'value'.  The who buying/managing/selling seems overly complicated.  I also think that central banks will eventually come out with one or more 'sanctioned' national/international cryptocurrencies at some point and that will see the demise of many that currently seem to be in favour ..... but as I said I don't really understand them.

My golden rule is that I do not invest in anything that I don't understand.  I have a couple of blockchain companies in my portfolio though (but that is not to do with crypto).  Maybe when it falls back below £10K again I might dip my toe in the water and have a flutter.

So you DO invest in things you don't understand 

No, I have never invested in something I don't understand.  I thought I had been quite clear about that.??

It was only intended as a light hearted observation. You just mentioned a couple of Blockchain companies and that you might have a dabble below 10k.

I understand blockchain technology.
To be fair I said at below 10K I might have a "flutter", I would consider at 10K it might be a gamble worth taking (that should give me a couple of months to learn a bit more about cryptocurrency).

I appreciate it was lighthearted - but I still will never invest in something I don't understand. 

Michael121

I have a question for and against bitcoiners.

Those against bitcoin. If inflation went rampant, would you jump on the crypto band wagon.
What percent would you use in crypto.


For bitcoin. What is your price target? the mcap is already sky high, i don't see the multi bag potential. Or are you just betting on fiat currency becoming worthless over x amount of years, decades? Are you not concerned with the greed in the likes of this dogecoin, sure looks like a lot of gamblers getting involved in crypto at the moment.

thegentleway

is your hypothetical inflation question about U.K. rampant inflation (would obviously use another established currency like the dollar) or you asking about all FIAT currencies inflating like crazy? It’s hard to imagine the latter but I guess people would turn to gold

Michael121

thegentleway said:

is your hypothetical inflation question about U.K. rampant inflation (would obviously use another established currency like the dollar) or you asking about all FIAT currencies inflating like crazy? It’s hard to imagine the latter but I guess people would turn to gold

At the point where your uncomfortable holding cash or equities. I don't know where your threshold is but for me id be annoyed at even 5% inflation if im to be honest. 

thegentleway

Michael121 said:

thegentleway said:

is your hypothetical inflation question about U.K. rampant inflation (would obviously use another established currency like the dollar) or you asking about all FIAT currencies inflating like crazy? It’s hard to imagine the latter but I guess people would turn to gold

At the point where your uncomfortable holding cash or equities. I don't know where your threshold is but for me id be annoyed at even 5% inflation if im to be honest.

5% inflation would be annoying but not world ending (we've had much higher inflation). I don't think 5% inflation is a very realistic forecast; there is a lot of scope to increase interest rates since they are so low.

Scottex99

Michael121 said:

I have a question for and against bitcoiners.

Those against bitcoin. If inflation went rampant, would you jump on the crypto band wagon.
What percent would you use in crypto.


For bitcoin. What is your price target? the mcap is already sky high, i don't see the multi bag potential. Or are you just betting on fiat currency becoming worthless over x amount of years, decades? Are you not concerned with the greed in the likes of this dogecoin, sure looks like a lot of gamblers getting involved in crypto at the moment.

“Sky High” against what? I guess I wanna see $100k in the next year and then whatever after that.
Not a selling target for me either, it might become generational wealth at some point, so I’ll just hand my BTC down.
In theory the BTC marketcap target is that of XAU

Michael121

Scottex99 said:

Michael121 said:

I have a question for and against bitcoiners.

Those against bitcoin. If inflation went rampant, would you jump on the crypto band wagon.
What percent would you use in crypto.


For bitcoin. What is your price target? the mcap is already sky high, i don't see the multi bag potential. Or are you just betting on fiat currency becoming worthless over x amount of years, decades? Are you not concerned with the greed in the likes of this dogecoin, sure looks like a lot of gamblers getting involved in crypto at the moment.

“Sky High” against what? I guess I wanna see $100k in the next year and then whatever after that.
Not a selling target for me either, it might become generational wealth at some point, so I’ll just hand my BTC down.
In theory the BTC marketcap target is that of XAU

It has an mcap of google. Point is look at all the money that has to flow into btc just for a double up.

Scottex99

Buy ETH then 

onthebench

[Deleted User] said:

Scottex99 said:

Michael121 said:

I have a question for and against bitcoiners.

Those against bitcoin. If inflation went rampant, would you jump on the crypto band wagon.
What percent would you use in crypto.


For bitcoin. What is your price target? the mcap is already sky high, i don't see the multi bag potential. Or are you just betting on fiat currency becoming worthless over x amount of years, decades? Are you not concerned with the greed in the likes of this dogecoin, sure looks like a lot of gamblers getting involved in crypto at the moment.

“Sky High” against what? I guess I wanna see $100k in the next year and then whatever after that.
Not a selling target for me either, it might become generational wealth at some point, so I’ll just hand my BTC down.
In theory the BTC marketcap target is that of XAU

That's something everyone can agree on at least



You can almost taste the greed. Conservative investment forums like Bogleheads are filling up with new posters pushing crypto really hard. My friends and colleagues at work are daytrading on their phones with no knowledge or due diligence, some are buying into crypto like Doge. All I need is the modern equivalent of a shoeshine boy to try to sell me on some altcoin.

Altcoins are not bitcoin. Dogecoin has a basically unlimited supply. 

I don’t hold bitcoin because of greed or because I think it will make me a millionaire, I hold it because it stands a decent chance of beating inflation and it can’t just be printed in unlimited quantities.