BITCOIN

thegentleway

Interesting question. I’m not really sure. Zero sum is just a mathematical category with some theories for those types of games. I imagine the theories wouldn’t apply very well to that example and therefore would probably not be deemed zero sum.

I agree being zero sum doesn’t make it evil. Nothing inherently wrong with zero sum. It’s a somewhat useful distinction as some people prefer not to invest in those instruments as they are speculative.

It interesting you buy at every price point and don’t try to exploit the volatility, i.e. buy more when it’s going down, take profits when it’s up. I guess my question is what’s the end game strategy? There must be a limit to adoption right. I.e. let’s say everybody that would ever want a bitcoin has bought some. Presumably the price stabilises (both supply and demand are fixed at this point?) so it just becomes store or value/currency? 

Scottex99

Mainly because it's too difficult.

If we knew where the top and bottom of any stocks/crypto or any other asset, we'd be retired billionaires already.

A decent strategy imo for long term holders and noobs alike is, DCA a set amount weekly/monthly, set and forget. Then on top of that when you get the big crashes you go in a bit harder. That's the scary bit when emotion can run high and you make mistakes, plus none of us can predict the future anyway. 

So when I was buying up after the FTX fallout at sub $20k, of course I knew there was risk but I had to try to figure out the risk/reward. Did I know $16k was the bottom? Definitely not. Would I have bought at $12k, $8k, $4k? Yes. Would I have bought at sub $1k? Maybe not, even though my thesis "should" be unchanged.

"You buy bitcoin at the price you deserve" is an answer you'll see.

The supply is fixed so yep as it rises in value, it gets more and more difficult, being a "whole coiner" becomes out of reach for many.

But, markets move fast, I've started to sell to fiat and will try to get out more as it climbs, knowing I'm very very unlikely to sell the top, whenever it comes. 

Very rough numbers would be sell at $90-150k, buy back at $40-60k when crypto winter comes again, easier said than done but you should learn something from each cycle you navigate/survive! 

 

Scottex99

Strategic Reserve incoming? 

The Donald with some bullish chat, in fact lots of bullish talk coming from all over right now 

MSTR > MSFT? 

Saylor does look a bit like he’s running a ponzi but also something that’s never really been done (at this scale) before either, market doesn’t know how to price it 

Adyinvestment

Strategic reserve is starting to actually sound plausible, if you had said that to me a few weeks ago I would have fell off my chair laughing!

Who knows what is going to happen, however Trump is personally invested in crypto and I can only see positive outcomes, even though I think it is immoral of him, however he clearly (and other powerful people also) doesn't care about that!

MeteredOut

With the stock market in such a turmoil, I though I'd check out how BTC was holding up as as store of wealth. Looks like its held up better than the major indices, but not as good as gold. $100K seems quite a way off now (but we know things can move quick).

Do people still think BTC a viable store of wealth as an alternative to gold?

Not seem much mention of crypto from the orange man recently either.

Section62

MeteredOut said:

With the stock market in such a turmoil, I though I'd check out how BTC was holding up as as store of wealth. Looks like its held up better than the major indices, but not as good as gold. $100K seems quite a way off now (but we know things can move quick).

Do people still think BTC a viable store of wealth as an alternative to gold?

Not seem much mention of crypto from the orange man recently either.

I nearly posted on this thread yesterday (it had been quiet for a while) as there was a BBC website live reporting comment about Bitcoin/crypto prices... the gist (roughly) was that Bitcoin was dropping too, rather than being seen as a 'safe haven' away from equities.  As I remember someone was quoted making the point that at times like this fear makes people want to avoid risk, and crypto still represents a riskier proposition than stockmarkets.

If I can find the comment again I'll post a link or screenshot... unfortunately the BBC live reporting stuff is not always easy to find again.  Apologies in advance if my recollection differs from the original source.

InvesterJones

Section62 said:

MeteredOut said:

With the stock market in such a turmoil, I though I'd check out how BTC was holding up as as store of wealth. Looks like its held up better than the major indices, but not as good as gold. $100K seems quite a way off now (but we know things can move quick).

Do people still think BTC a viable store of wealth as an alternative to gold?

Not seem much mention of crypto from the orange man recently either.

I nearly posted on this thread yesterday (it had been quiet for a while) as there was a BBC website live reporting comment about Bitcoin/crypto prices... the gist (roughly) was that Bitcoin was dropping too, rather than being seen as a 'safe haven' away from equities.  As I remember someone was quoted making the point that at times like this fear makes people want to avoid risk, and crypto still represents a riskier proposition than stockmarkets.

If I can find the comment again I'll post a link or screenshot... unfortunately the BBC live reporting stuff is not always easy to find again.  Apologies in advance if my recollection differs from the original source.

At pensioncraft they reckon bitcoin basically acts as leveraged nasdaq, rather than a diversifier.

Scottex99

Section62 said:

MeteredOut said:

With the stock market in such a turmoil, I though I'd check out how BTC was holding up as as store of wealth. Looks like its held up better than the major indices, but not as good as gold. $100K seems quite a way off now (but we know things can move quick).

Do people still think BTC a viable store of wealth as an alternative to gold?

Not seem much mention of crypto from the orange man recently either.

I nearly posted on this thread yesterday (it had been quiet for a while) as there was a BBC website live reporting comment about Bitcoin/crypto prices... the gist (roughly) was that Bitcoin was dropping too, rather than being seen as a 'safe haven' away from equities.  As I remember someone was quoted making the point that at times like this fear makes people want to avoid risk, and crypto still represents a riskier proposition than stockmarkets.

If I can find the comment again I'll post a link or screenshot... unfortunately the BBC live reporting stuff is not always easy to find again.  Apologies in advance if my recollection differs from the original source.

The dream “end-game” is probably that BTC decouples from traditional financial assets and becomes that store of value in a future crisis. Like gold, but digital and better.

That time isn’t here though and it seems when stocks dump, crypto does too.

Although ~$80k isn’t too bad if you’ve held for any decent length of time.

I’ve probably held 100+ different coins/tokens over the years but these choppy markets (and the memecoin shenanigans) are making me more of a Bitcoin maxi every day

MeteredOut

Scottex99 said:

Section62 said:

MeteredOut said:

With the stock market in such a turmoil, I though I'd check out how BTC was holding up as as store of wealth. Looks like its held up better than the major indices, but not as good as gold. $100K seems quite a way off now (but we know things can move quick).

Do people still think BTC a viable store of wealth as an alternative to gold?

Not seem much mention of crypto from the orange man recently either.

I nearly posted on this thread yesterday (it had been quiet for a while) as there was a BBC website live reporting comment about Bitcoin/crypto prices... the gist (roughly) was that Bitcoin was dropping too, rather than being seen as a 'safe haven' away from equities.  As I remember someone was quoted making the point that at times like this fear makes people want to avoid risk, and crypto still represents a riskier proposition than stockmarkets.

If I can find the comment again I'll post a link or screenshot... unfortunately the BBC live reporting stuff is not always easy to find again.  Apologies in advance if my recollection differs from the original source.

The dream “end-game” is probably that BTC decouples from traditional financial assets and becomes that store of value in a future crisis. Like gold, but digital and better.

That time isn’t here though and it seems when stocks dump, crypto does too.

Although ~$80k isn’t too bad if you’ve held for any decent length of time.

I’ve probably held 100+ different coins/tokens over the years but these choppy markets (and the memecoin shenanigans) are making me more of a Bitcoin maxi every day

I cant disagree with that. If someone asked me to recommend the single crypto asset they'd be least likely to lose all their money on, it'd be BTC.

Scottex99

i was in a national park in Cork on a horse and cart, of all places, and the horse man asked me which cryptos to buy…

then in Galway yesterday a jeweler asked if accepting payment in crypto could be a good idea.

both in response to me being asked what I do for a living.

BTC is and has always been the call really, buy monthly set and forget, or buy some extreme dips if you see them, with money you can “afford” to lose