BITCOIN

HansOndabush

Scottex99 said:

HansOndabush said:

When Wall St. sneezes, bitcoin catches a cold.

Bitcoin down over 14% since Monday

Gold down 1.1% since Monday

Which one has been a better store of value?

"Zoom out you mug" was my initial thought but I'll try not to be rude 
Don't lower yourself to that nonsense when anyone with a quarter of a brain and access to google can destroy that argument.

Go buy yourself a Tesla; oh wait you can't any longer. Never mind you can always hire a hit man instead wit yer coins.

Thrugelmir

HansOndabush said:

Scottex99 said:

HansOndabush said:

When Wall St. sneezes, bitcoin catches a cold.

Bitcoin down over 14% since Monday

Gold down 1.1% since Monday

Which one has been a better store of value?

"Zoom out you mug" was my initial thought but I'll try not to be rude 
Don't lower yourself to that nonsense when anyone with a quarter of a brain and access to google can destroy that argument.

Go buy yourself a Tesla; oh wait you can't any longer. Never mind you can always hire a hit man instead wit yer coins.

Judging by Tesla car sales in China in April. The PR stunt backfired somewhat. 

Scottex99

HansOndabush said:

Scottex99 said:

HansOndabush said:

When Wall St. sneezes, bitcoin catches a cold.

Bitcoin down over 14% since Monday

Gold down 1.1% since Monday

Which one has been a better store of value?

"Zoom out you mug" was my initial thought but I'll try not to be rude 
Don't lower yourself to that nonsense when anyone with a quarter of a brain and access to google can destroy that argument.

Go buy yourself a Tesla; oh wait you can't any longer. Never mind you can always hire a hit man instead wit yer coins.

What is this, the playground now?

I’ll probably buy a villa with my gains tbh

underground99

Scottex99 said:

I’ll probably buy a villa with my gains tbh

Pretty good going, I see that A. Villa are currently 11th in the Premier League. Good luck with your bid.

User232002

lardellion said:

Do you know what a "store of value" is? Bitcoin is not a good one because the price is very volatile. You seem to believe it is because the price has been going up a lot.

 *sigh*
I have never said Bitcoin is a store of value because its price is going up. The volatility of Bitcoin is decreasing over time because it is a new asset class. At some point in the future when BTC is $400k+/coin then its volatility will be incredibly low. 

Right now, I would probably suggest Bitcoin is best classified as an uncorrelated hedge (because it sits outside the financial system which is mainly all influenced by the fed and its levers), with the long term potential to become a store of value (as it is better than gold in almost all metrics). But, people on here are talking about 3 day price action and ponzi schemes so I truly think they lack the capacity to understand the previous sentence. 

HansOndabush said:

Take it you didn't sell then 
Btw, you can no longer buy that Tesla with Bitcoin either. 
Elon is the ultimate pump n dump merchant; I bet he and his buddies have been insider trading on the tweets!

 I've made it very clear as to what criteria invalidates my thesis. Bitcoin going down by 15% in a couple of days is nothing new to me and nothing I particularly stress over, even though it 'cost' me tens of thousands of dollars on paper. 

YTD:
Bitcoin: +72%
Gold: -3% (Yes, minus 3%)
Since March 18th (Pre-Pandemic):
Bitcoin: 525%
Gold: +9% 
Since 2011:
Bitcoin: Some absurd number.
Gold: Basically 0% from 2011 peak (that's in nominal terms btw as well)

I also don't understand what you are (trying to be) so gleeful about? I see this a lot from no-coiners and I can only infer that your view of bitcoin is so tied up in your view of the world that you need the validation of being right. Like I said, anti-Bayesian thinking.

Malthusian said:

It indicates that they don't think it's going to lambo moon to $100,000+ any time soon, otherwise they wouldn't sell them for $50,000 just so a bro can get some bad pizza. That is all.

Thinking up handwaving explanations why someone who believes in crypto would sell an asset they believe will lambo moon to infinity and beyond for a mere $50,000 does not constitute critical thinking skills.

 Oh god. This level of analysis is woeful.

Firstly, its probably not a good idea to be running a business in an area that you think isn't going to grow in the future. I think the fact they run a crypto exchange probably tells you all you need to know about their outlook on the crypto space. Secondly, they aren't 'selling' any asset - probably because they do actually believe the price of BTC will increase. They are giving it away as part of a marketing campaign; and that is a crucial difference.

Set marketing budget (in fiat obviously). Pay for BTC in fiat. Run marketing campaign. Some BTC gets claimed, some is never given away and/or some is left in user accounts and claimed back years later under the exchanges Ts&Cs. Congratulations, you've just managed to both acquire new customers and expose company fiat to BTC under the marketing budget where you are exposed to the long-term upside but not the downside (because the spend is already written off). I would also strongly assume that idiots who are getting their first exposure to BTC via a pizza promotion are going to be the same idiots paying their 3.5% debit card fees, which means they'd only need a £300 buy from them to break even. 

Lastly, the 'lambo moon' scenario for Bitcoin isn't $100k. $100k is a pretty attainable near term target and I would personally be surprised if it doesn't hit by the end of this year. The 'lambo moon' scenario for Bitcoin is in the millions per coin.

I know you think you are being really clever by using the words 'bro' and 'blockchain' a lot, but you really aren't very sharp.

Adyinvestment

This thread shows how strongly people hate/love Bitcoin.

As someone who has recently changed from a non-believer to a believer, I would say that I 100% believe that digital currency will be normal in the not too distant future. Whether that is Bitcoin or Britcoin or any of the many existing or not yet existing coins there will be digital currency.

Which or how many will be dominating in 10yrs time nobody know for sure but Bitcoin is leading the way at this time.

I think there is a long way to go before the everyday person on the street will accept this, but I have chosen (10 years later than I wish I had ) to dip my toe in while there are still potential big gains to be made.

Atlas234

Adyinvestment said:

This thread shows how strongly people hate/love Bitcoin.

As someone who has recently changed from a non-believer to a believer, I would say that I 100% believe that digital currency will be normal in the not too distant future. Whether that is Bitcoin or Britcoin or any of the many existing or not yet existing coins there will be digital currency.

Which or how many will be dominating in 10yrs time nobody know for sure but Bitcoin is leading the way at this time.

I think there is a long way to go before the everyday person on the street will accept this, but I have chosen (10 years later than I wish I had ) to dip my toe in while there are still potential big gains to be made.

I’m the same, have been very sceptical of crypto for years, have only been investing in it for about a year after a lot of research. Currently around 1000% up so far this year, wish I had started a lot earlier! Certainly wouldn’t put all my money into crypto but over the last decade even investing say 1-5% of your portfolio in crypto would likely have out performed the other 99-95% of investments

Thrugelmir

Adyinvestment said:

This thread shows how strongly people hate/love Bitcoin.

More a reflection of those who who've seen it all before and the newbies who think that bubbles are something consigned to history books. Nothing like greed to drive speculation. The fact that it's regarded as investing says a lot. 

thegentleway

Thrugelmir said:

Adyinvestment said:

This thread shows how strongly people hate/love Bitcoin.

More a reflection of those who who've seen it all before and the newbies who think that bubbles are something consigned to history books. Nothing like greed to drive speculation. The fact that it's regarded as investing says a lot. 

Agreed. It’s not just the people who have seen it all before. I’ve not been investing for long but I remember reading once: “beware of the red ribbon deal”. Basically if something is too good to be true then it probably is. I’ll invest in Crypto when Buffet, the investing GOAT does!

Scottex99

underground99 said:

Scottex99 said:

I’ll probably buy a villa with my gains tbh

Pretty good going, I see that A. Villa are currently 11th in the Premier League. Good luck with your bid.

Haha, v good. J Grealish alone worth about 2500 BTC