BITCOIN

[Deleted User]

HansOndabush said:

I'd say Tesla is going down; chart looks bearish.

Well yes, if Bitcoin goes down, Tesla goes down (less) and Apple goes down (less) and the whole market goes down (less).

Apple used to be the most heavily traded stock but now it is Tesla. But even trade in Tesla is dwarfed by that in Bitcoin.  10% of Bitcoin is traded every day, compared to less than 1% of Apple. 

HansOndabush

That's because Bitcoin is a speculative asset, not an investment.

Scottex99

HansOndabush said:

That's because Bitcoin is a speculative asset, not an investment.

What's the difference?

You're putting money in to make more money. Whether you steadily grow 5% per year or do +300% one month and -200% the next, there's no difference to me, other than personal risk appetite.

thegentleway

Scottex99 said:

HansOndabush said:

That's because Bitcoin is a speculative asset, not an investment.

What's the difference?

You're putting money in to make more money. Whether you steadily grow 5% per year or do +300% one month and -200% the next, there's no difference to me, other than personal risk appetite.

The main difference is that companies produce products/services and generate cash whereas Bitcoin just sits there doing nothing. 

prowla

HansOndabush said:

That's because Bitcoin is a speculative asset, not an investment.

Aren't all shares too, and the price of gold?

Scottex99

thegentleway said:

Scottex99 said:

HansOndabush said:

That's because Bitcoin is a speculative asset, not an investment.

What's the difference?

You're putting money in to make more money. Whether you steadily grow 5% per year or do +300% one month and -200% the next, there's no difference to me, other than personal risk appetite.

The main difference is that companies produce products/services and generate cash whereas Bitcoin just sits there doing nothing. 

Bore off you. Google some of the DeFi projects and see what they do

HansOndabush

Scottex99 said:

HansOndabush said:

That's because Bitcoin is a speculative asset, not an investment.

What's the difference?

You're putting money in to make more money. Whether you steadily grow 5% per year or do +300% one month and -200% the next, there's no difference to me, other than personal risk appetite.

You've just stated one difference; the volatility.

A speculative asset has some of the following attributes:

High volatility, difficult to put a value on, little history, used for short term gains(losses), may be unregulated, no protection for investor

An investment has some of the following attributes:

Produces income, produces something people want i.e. goods and services, a fair value can be estimated based on income and/or earnings, used for long term appreciation (or loss), is generally traded on recognised and regulated exchanges.

I expect there are other differences; that's just off the top of my head, But if you haven't yet learned a speculation from an investment then you shouldn't be putting money into anything except a savings account.

Malthusian

Also don't forget to video yourself trying to convince Mr Patel to accept meme tokens instead of GBP for your Pot Noodle and 4-pack of Fosters so we can all have a good laugh.

HansOndabush

New Bitcoin Pizza company won't accept bitcoin as payment; ha ha what a joke this thing is:

https://www.businessinsider.in/cryptocurrency/news/crypto-investor-anthony-pompliano-launches-a-bitcoin-themed-pizza-service-in-the-us-that-wont-accept-the-digital-asset-as-payment/articleshow/82766763.cms

thegentleway

Scottex99 said:

thegentleway said:

Scottex99 said:

HansOndabush said:

That's because Bitcoin is a speculative asset, not an investment.

What's the difference?

You're putting money in to make more money. Whether you steadily grow 5% per year or do +300% one month and -200% the next, there's no difference to me, other than personal risk appetite.

The main difference is that companies produce products/services and generate cash whereas Bitcoin just sits there doing nothing. 

Bore off you. Google some of the DeFi projects and see what they do

Classic smoke and mirrors. You're mixing up buying Bitcoin and investing in crypto projects to obfuscate the issue. Hanlon's razor reminds me it's presumably unintentional.
Bitcoin just sits there and you're hoping someone will buy it from you for silly money despite the environmental concerns.
We can sidetrack and talk about crypto projects if you want. They do very little. Despite all the hype and amusing jargon to make it sound technical, it's mostly unsubstanciated claims with no actual working novel system. You don't really want to talk about them though, you just want to tell people to do their own research. That's fine but a true enthusiast, who was genuinely excited at the prospect of these life changing projects, would revel at the opportunity to discuss them and their potential. It's obviously because you're too cool and not because you don't actually have a deep enough understanding to be able to explain it in layman's terms.