BITCOIN

Atlas234

lozzy1965 said:

Atlas234 said:
China has 'reiterated' its bans from 2013 and 2017, nothing has actually changed since 2017.

Crypto so far has followed a roughly 4 year cycle, 2017/2018 being the last real bear market so many fear another one coming soon 2021/2022 so non-news like this causes an irrational fear response. 

Some would say it has got to where it is because of an irrational manic response.  Or maybe FOMO.

Oh there's plenty of irrational in crypto haha, joke meme coins having multi billion market caps, rough pixelated NFT's selling for 100's of thousands. I tend to just stick to projects with good teams and real world use cases and hope for the best!

Malthusian

ZingPowZing said:

Down another 10%.
That's another $80 billion of wealth gone in a day. Must impact stock markets.

$80 billion of wealth has not disappeared. That figure is only true if all the Bitcoin in the world was worth $800 billion in the first place. That requires a realistic possibility that someone might come in and buy up every single Bitcoin for $45k each. (In the way that if a company is trading for $65 billion on the stockmarket, a private equity investor could conceivably offer to buy all the shares for $72 billion. Unless they've been made up by Elon Musk for lulz and giggles.) Which is impossible.

So if you're thinking that $80 billion must be flowing into the stockmarket or other assets, that is not correct. A few bros trading a few millions worth of Bitcoin between each other at lower prices than yesterday will not in itself impact the trillions of actual assets being traded on stock markets.

Except in the sense that someone might convince the net-loser bros to try to recover their losses by investing in some penny shares that are going to mewn.

[Deleted User]

What is the difference between losing money in bitcoin and losing money?
Im thinking none but I’m ready for the masterclass.

Scottex99

1 BTC = 1 BTC, haha.

Blood on the streets today, seems to be same China FUD that's been around for a long time as someone already mentioned. Elon was doing his thing, Binance getting investigated and questions over Tether's asset backing (again).

Corrections happen, whales will be piling in, soon enough.

Atlas234

ZingPowZing said:

What is the difference between losing money in bitcoin and losing money?
Im thinking none but I’m ready for the masterclass.

Much the same as when the stock markets are down, you don't lose anything until you sell your investment

[Deleted User]

Atlas234 said:

ZingPowZing said:

What is the difference between losing money in bitcoin and losing money?
Im thinking none but I’m ready for the masterclass.

Much the same as when the stock markets are down, you don't lose anything until you sell your investment

Yes of course you do. 
“You don’t lose anything until you sell your investment,” is the same as saying You don’t gain anything until you sell your investment; in which case someone ought to review Warren Buffet’s credit rating.

thegentleway

ZingPowZing said:

Atlas234 said:

ZingPowZing said:

What is the difference between losing money in bitcoin and losing money?
Im thinking none but I’m ready for the masterclass.

Much the same as when the stock markets are down, you don't lose anything until you sell your investment

Yes of course you do. 
“You don’t lose anything until you sell your investment,” is the same as saying You don’t gain anything until you sell your investment; in which case someone ought to review Warren Buffet’s credit rating.

How Crystallization Works

When an investor buys a capital asset, an increase (or decrease) in the value of the security does not translate to a profit (or loss). The investor can only claim a profit (or loss) after he has sold the security. Selling the security at a profit is referred to as crystallizing a capital gain.
https://www.investopedia.com/terms/c/crystallization.asp

lozzy1965

ZingPowZing said:

Yes of course you do. 
“You don’t lose anything until you sell your investment,” is the same as saying You don’t gain anything until you sell your investment; in which case someone ought to review Warren Buffet’s credit rating.

Err, actually, gain and loss usually refer to monetary profit, so you don't lose, or gain anything until you sell your investment, or until the underlying asset 'goes bust'.  It gets a bit confusing when the 'monetary asset' is a new form of money I guess - as in BITCOIN rather than other blockchain use assets.
Warren Buffet's credit rating is based on the fact that he has so much invested and in enough of a wide range of assets that if he does go bust then the world is about to end.

[Deleted User]

But you are still richer or poorer according to the fluctuating value of the asset. If you have half your money under the mattress and half in bitcoin, it makes no difference overall which half you lose, you’re worth exactly the same either way. 

thegentleway

ZingPowZing said:

But you are still richer or poorer according to the fluctuating value of the asset. If you have half your money under the mattress and half in bitcoin, it makes no difference overall which half you lose, you’re worth exactly the same either way. 

Sounds like you're talking about net worth as opposed to profits.