BITCOIN

HansOndabush

Very good article!

whatstheplan

lozzy1965 said:

I must admit to totally not understanding Crypto, and being sceptical, but with an open mind.  This article kind of mirrors my possible misunderstanding of just how it can be so popular:
https://www.ft.com/content/2c3dd96c-b1b1-42fd-ab46-8b4791bf1270
Sorry to stoke the "anti" sentiment, and "yes" I am jealous

Rightly or wrongly there's no way I'd buy into BTC now.  I considered it in 2017, when 1 BTC was hovering around £1,500.  Now, that would get me 3.65% of a BTC if my maths is correct.  Sure, people say it's going to keep on rising so maybe a few years from now I'll be kicking myself again.  However I don't lose any sleep over it.  Although I do wish I'd taken that punt 4 years ago ... #hindsight

TimSynths

Good news for me- My pending Coinbase wallet transaction completed after 42 hours. Think I'm going to take some profit from my ETH and reinvest into BTC- think it may do well over the next 4 weeks.

Malthusian

[Deleted User] said:

By itself, I don't think Dogecoin is enough of a reason to not take crypto seriously, as it's just one sign of craziness. But taken together with a lot more trash like it in the top 100 coins getting pumped up, and evidence of the general frenzy (e.g. the Papa John's £fiat worth of Bitcoin promotions), I think the bubble is real.

So in exchange for at least £30, Papa John's will give you £10 in "free" Bitcoin and £15 off the order.

This tells you a lot about:

• the belief of crypto exchanges in the value of crypto (if Luno believed that Bitcoin was going to la luna, they wouldn't give it to bros in exchange for a £10 cut of a pizza sale)
• the true value of £30 worth of Papa John pizzas (£5).
  

Thrugelmir

Scottex99 said:

Thrugelmir said:

patient_investor said:

IanManc said:

patient_investor said:

HansOndabush said:

Bitcoin could go to any price $100K, $1m, anything which still would not prove it isn't just a bubble and might go to $0

Have fun staying poor then, while we enjoy our millions. There’s a sucker born every minute. 😄

That comment might just come back to bite you.  🤨

 Cashed out profits thousand times over already and I still have active position in Bitcoin.

How do you cash out Bitcoin other than to sell it to another dumb speculator. When there's no one to sell it to what happens then? Takes two to trade. 

Why does this get raised again and again like it's relevant? It's not some illiquid fantasy asset with 3 orders in each order book. $65bn of BTC traded in the last 24 hours according to Gecko. My team put 2 x $1m BTC limit sell orders through an exchange fairly recently and they filled in about 4 mins.

Why is it relevant. It's how markets function. Supply and demand. Nothing more complex than that. 

User232002

lozzy1965 said:

I must admit to totally not understanding Crypto, and being sceptical, but with an open mind.  This article kind of mirrors my possible misunderstanding of just how it can be so popular:
https://www.ft.com/content/2c3dd96c-b1b1-42fd-ab46-8b4791bf1270
Sorry to stoke the "anti" sentiment, and "yes" I am jealous

Jemima has written several hack articles in the FT regarding Bitcoin and most of the points presented have been debunked in this thread. It is incredibly intellectually disingenuous to claim that Dogecoin has outperformed Bitcoin. Nobody is giving away bleeding edge financial advice in a publication that costs a couple of pounds; the FT exists to make old people feel comfortable in their view of the world.

lardellion said:

By itself, I don't think Dogecoin is enough of a reason to not take crypto seriously, as it's just one sign of craziness. But taken together with a lot more trash like it in the top 100 coins getting pumped up, and evidence of the general frenzy (e.g. the Papa John's £fiat worth of Bitcoin promotions), I think the bubble is real.

Nobody knowledgeable about the crypto space is seriously suggesting you invest in Dogecoin, Safemoon or SHIB. Fairly certain everyone will tell you they are probably going to zero.

Malthusian said:

So in exchange for at least £30, Papa John's will give you £10 in "free" Bitcoin and £15 off the order.

This tells you a lot about:

• the belief of crypto exchanges in the value of crypto (if Luno believed that Bitcoin was going to la luna, they wouldn't give it to bros in exchange for a £10 cut of a pizza sale)

I really think you need to work on your critical thinking skills.

Malthusian

darren232002 said:

I really think you need to work on your critical thinking skills.

My critical thinking skills are enough to keep me out of money games and paying £30 for £5 worth of pizza bro.

Got any actual reasons why paying £30 for £5 worth of pizza and a £10 ticket to a zero sum money game is a good idea?

thegentleway

Malthusian said:

darren232002 said:

I really think you need to work on your critical thinking skills.

My critical thinking skills are enough to keep me out of money games and paying £30 for £5 worth of pizza bro.

Got any actual reasons why paying £30 for £5 worth of pizza and a £10 ticket to a zero sum money game is a good idea?

just wondering if you think buying gold is a zero sum game as well?

Thrugelmir

thegentleway said:

Malthusian said:

darren232002 said:

I really think you need to work on your critical thinking skills.

My critical thinking skills are enough to keep me out of money games and paying £30 for £5 worth of pizza bro.

Got any actual reasons why paying £30 for £5 worth of pizza and a £10 ticket to a zero sum money game is a good idea?

just wondering if you think buying gold is a zero sum game as well?

Gold is at least tangible. Has many uses. Not just decorative. 

HansOndabush

thegentleway said:

Malthusian said:

darren232002 said:

I really think you need to work on your critical thinking skills.

My critical thinking skills are enough to keep me out of money games and paying £30 for £5 worth of pizza bro.

Got any actual reasons why paying £30 for £5 worth of pizza and a £10 ticket to a zero sum money game is a good idea?

just wondering if you think buying gold is a zero sum game as well?

Essentially it is BUT fiat currency continues to lose value vs gold so it is a better store of value than cash. It has a long history over thousands of years of protecting holders from currency debasement.