Bitcoin

planteria

bowlhead99 said:

Well, if he refers to being happy with the 160% return and notes that the 'naysayers' could "have 200x bigger return comparing to laughable <1% saving accounts" it seems he means his return of 160% was 200x better by comparison to the <1% saving account - it's not a suggestion that he got a 200x return over the last 6 months or would expect it over the next.

agreed. entirely clear.

Retireby40

Can anyone explain to me why bitcoin jumps from £8000ish to £24,000 in the space of 2-3 months?

More people all of a sudden buying Bitcoin like crazy?

[Deleted User]

Retireby40 said:

Can anyone explain to me why bitcoin jumps from £8000ish to £24,000 in the space of 2-3 months?

More people all of a sudden buying Bitcoin like crazy?

https://www.bbc.co.uk/news/business-55515529

Retireby40

Deleted_User said:

Retireby40 said:

Can anyone explain to me why bitcoin jumps from £8000ish to £24,000 in the space of 2-3 months?

More people all of a sudden buying Bitcoin like crazy?

https://www.bbc.co.uk/news/business-55515529

"Bought by investors looking rapid money".

So multimillionaires ploughed money into Bitcoin October/November time at £8000. As it continues to rise who is topping it up? The millions of working people throwing £1000 here or £1000 there at £11/12/15k trying to get their slice or FOMO?

Its something that I have no idea about but trying to understand how something goes from £3000-£8000-£24000 without someone losing somewhere when the big hitters cash out.

Username999

Retireby40 said:

Can anyone explain to me why bitcoin jumps from £8000ish to £24,000 in the space of 2-3 months?

More people all of a sudden buying Bitcoin like crazy?

I'm sure the resident Bitcoin enthusiasts, Malthusian and Another_Saver, will be along soon and answer your question. 

RichTips

Would now be a good time to introduce the topic of decentralized and trustless lending protocols currently giving interest rates in the double digits on fiat-pegged cryptocurrencies?

NottinghamKnight

RichTips said:

Would now be a good time to introduce the topic of decentralized and trustless lending protocols currently giving interest rates in the double digits on fiat-pegged cryptocurrencies?

How are you defining or generating the 'double digit interest rate'?

masonic

RichTips said:

Would now be a good time to introduce the topic of decentralized and trustless lending protocols currently giving interest rates in the double digits on fiat-pegged cryptocurrencies?

Is this the decenralised equivalent of investing in junk bonds, or lending someone some money to trade with? Can the borrower default on the loan?

planteria

Retireby40 said: Can anyone explain to me why bitcoin jumps from £8000ish to £24,000 in the space of 2-3 months?

not necessarily more buyers, but more of those that are buying are buying in volume (including for funds, therefore on behalf of more people if that's how you look at it) and putting straight into cold storage.. classic supply & demand. 

barnstar2077

It gets mentioned on the news, which attracts more people, which creates more news stories.  Repeat.  I feel like Tesla is kinda the same at the moment.  I don't think they are going to fail anytime soon, but can the gravy train run forever, I don't know.