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BITCOIN
Comments
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Ah, I think I've finally twigged how this Bitcoin thing works.
You buy them when they are cheap.
You sell them when they have increased in price.
Then you have made some proper money. 👍️
6 -
Why?
Genuine question.
0 -
"Although Bitcoin is meant to be cash"
Can you give one source/quote from someone credible who has suggested Bitcoin is cash?
1 -
Other than "because I'm holding it", on what basis?
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Its truly amazing that you quote that post and can't see how backwards you have it.
Because none of the reasons I've identified in the last 200 or so posts have changed.
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I don't disagree. For the time being. But eventually, this relationship will break when the market is forced to confront the reality of the situation that outside money is the safe haven asset.
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For those of us that don't want to trawl 200 or so posts, can you give the TL;DR version please? I truly can't recall reasons other than "a store of wealth" (which I think we can agree has not been the case for the past year) or "the greater fool theory" (which I do find hard to argue against).
2 -
Do you have a target timeframe for the market confronting your version of reality?
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I am a bit surprised by your question when half the internet think it is currency/cash and the other half think it is an asset.
Actually it rather fails at both IMO being too volatile to be a useful currency and unlike other assets not backed by anything.
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Are you going to buy again? Did you sell any in the last year? Did you buy any recently?
0
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