IT BEGINS !!

Discussion in 'Digital Currencies' started by SilverSale, Dec 22, 2019.

  1. leo25

    leo25 Well-Known Member Silver Stacker

    Joined:
    Jun 8, 2010
    Messages:
    3,778
    Likes Received:
    2,057
    Trophy Points:
    113
    Well I'm blown away. Never thought BTC will go this high this fast! ($61K USD)

     
    Last edited: Mar 14, 2021
    hawkeye1 and ParanoidAndroid like this.
  2. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

    Joined:
    Mar 16, 2019
    Messages:
    2,441
    Likes Received:
    1,845
    Trophy Points:
    113
    Me either. I'm glad I didnt listen to peter schiff about cryptos haha. Hes a smart dude but he missed this for sure.
     
    wrcmad likes this.
  3. hawkeye1

    hawkeye1 Active Member

    Joined:
    Dec 26, 2020
    Messages:
    140
    Likes Received:
    127
    Trophy Points:
    43
    Location:
    Perth
    I don't think most people realize what is happening. That is, there is a massive land grab going on. Only 21 million Bitcoin to spread across 8 Billion people ultimately. And unlike any other asset, no supply response as demand goes up.
     
    mmm....shiney! likes this.
  4. 66rounds

    66rounds Well-Known Member Silver Stacker

    Joined:
    Jun 22, 2019
    Messages:
    2,667
    Likes Received:
    2,816
    Trophy Points:
    113
    Location:
    Melbourne
  5. wrcmad

    wrcmad Well-Known Member Silver Stacker

    Joined:
    Jan 2, 2012
    Messages:
    6,817
    Likes Received:
    1,477
    Trophy Points:
    113
    Location:
    Northern NSW
    Schitt is a dead-set contrary indicator with whatever comes out of his mouth.
     
    mmm....shiney! likes this.
  6. mmm....shiney!

    mmm....shiney! Moderator Silver Stacker

    Joined:
    Nov 15, 2010
    Messages:
    21,668
    Likes Received:
    4,447
    Trophy Points:
    113
    Location:
    昆士蘭
  7. STKR

    STKR Well-Known Member Silver Stacker

    Joined:
    Aug 19, 2019
    Messages:
    1,232
    Likes Received:
    2,202
    Trophy Points:
    113
    What could possibly go wrong?
    Screenshot_2021-03-15-14-16-04-54.jpg
     
    66rounds likes this.
  8. mmm....shiney!

    mmm....shiney! Moderator Silver Stacker

    Joined:
    Nov 15, 2010
    Messages:
    21,668
    Likes Received:
    4,447
    Trophy Points:
    113
    Location:
    昆士蘭
    @STKR missed out did ya? :p
     
    STKR likes this.
  9. STKR

    STKR Well-Known Member Silver Stacker

    Joined:
    Aug 19, 2019
    Messages:
    1,232
    Likes Received:
    2,202
    Trophy Points:
    113
    Plenty of other speculative assets out there to choose from ;) I don't see it as anything more than that - a vessel to facilitate gambling with the Associated infrastructure to convert your casino chips into fiat or other casino chips.

    I am curious to understand why you believe Bitcoin is worth investing into beyond the speculative nature of the "asset". Do you have an exit plan? Do you intend to hold your Cryptos permanently?

    What developments, news, regulation etc would motivate you to move away from Cryptos altogether?
     
    wrcmad, 66rounds and mmm....shiney! like this.
  10. BuggedOut

    BuggedOut Well-Known Member Silver Stacker

    Joined:
    Jul 21, 2015
    Messages:
    2,582
    Likes Received:
    709
    Trophy Points:
    113
    Location:
    New South Wales
  11. mmm....shiney!

    mmm....shiney! Moderator Silver Stacker

    Joined:
    Nov 15, 2010
    Messages:
    21,668
    Likes Received:
    4,447
    Trophy Points:
    113
    Location:
    昆士蘭
    There are, shares, IPs, gold, silver .... They're all speculative. We buy these assets because we're hoping that we'll either get an income from them or that we'll get capital gain. Cryptos are starting to fill both categories. They're the best asset out there that offers both capital gain and an income generating source.

    Values are changing in society. BTC is beginning to be viewed as a store of value.

    No.

    Most likely. Of my two main holdings, I'm not sure what the future holds for BTC, possibly an asset I can borrow against if needed. I'm planning on staking my ETH and earning some income from them. The other stuff I can either sell or stake.

    Just like the gold I used to own, hold it until something better comes along or I can't hold it any longer eg the usual stuff you read about, quantum computing, governments banning holding crypto, technological changes that provide a better alternative etc etc. None really concern me at the moment.
     
    Bullion Stax, wrcmad and STKR like this.
  12. Polar.bear.Stacker

    Polar.bear.Stacker Active Member

    Joined:
    Sep 30, 2020
    Messages:
    100
    Likes Received:
    61
    Trophy Points:
    28
    Then how much would you need as an individual?
     
  13. wrcmad

    wrcmad Well-Known Member Silver Stacker

    Joined:
    Jan 2, 2012
    Messages:
    6,817
    Likes Received:
    1,477
    Trophy Points:
    113
    Location:
    Northern NSW
    Oh shit.
    That cliché sends shivers down my spine.
    It sounds creepily like Mike Baloney at USD$40 silver, a decade a go, telling me that silver is going to $1000.
    My instinct is to run like hell! :p
     
    mmm....shiney! likes this.
  14. mmm....shiney!

    mmm....shiney! Moderator Silver Stacker

    Joined:
    Nov 15, 2010
    Messages:
    21,668
    Likes Received:
    4,447
    Trophy Points:
    113
    Location:
    昆士蘭
    Rather than a price chart, if you look at the logarithmic chart you're given a picture that displays the strength of the moves in BTC's value over time. Rather than just showing the price spikes the log scale gives a clearer indication of the % movements in BTC's value. If you want scary-crazy-shit then you're going to have to go back to pre-2014. Since 2014 (and even more so since 2017) the gains have been steady and clean, more "bullish" than "bubble". Click on the image to enlarge.

    Screen Shot 2021-03-18 at 7.51.31 am.png

    Courtesy: http://bitcoin.zorinaq.com/price/
     
    LiverBird, Brendio and precious roar like this.
  15. hawkeye1

    hawkeye1 Active Member

    Joined:
    Dec 26, 2020
    Messages:
    140
    Likes Received:
    127
    Trophy Points:
    43
    Location:
    Perth
    Do you own any Bitcoins @wrcmad?

    Reason I am asking is that, would it not be prudent, at this point in time, to own some Bitcoin as a hedge? Just in case it does begin to catch on?

    If it turns out nothing comes of it, you've basically lost the money. But that's the point. It basically acts as insurance.
     
  16. hawkeye1

    hawkeye1 Active Member

    Joined:
    Dec 26, 2020
    Messages:
    140
    Likes Received:
    127
    Trophy Points:
    43
    Location:
    Perth
    It's speculative for people that don't take the time to understand it. For those who do, it's really not that speculative at all. In fact, seems like the only sensible option right now for multiple reasons. It's seen by most people as speculative because most people don't understand it and basically just look at the price. I look at the technology (the decentralized ledger, the blockchain, etc), I think about the network effect, what money is, how it has evolved, where we are in the cycle, the companies that are getting involved, what they are doing, etc. There are a lot of pieces to put together but once you do, you get clarity that you just don't get from looking at a chart.

    I may sell if it looks over-valued at some point. I'm not sure. Right now it looks severely under-valued. Like Amazon was in the early 2000's. So it's just BTFD atm.

    BTC is part of an entirely new financial system that is being set up and it is hard to say what that system is even going to look like at this point. There is so much financial and technical innovation going on. So many people and new companies and capital coming to the space all the time. It's really exciting stuff. Why some people insist on calling it all a scam is a mystery to me. I can only assume they are completely ignorant of all this. The current financial system just looks so old and dated in comparison. Hell, the bank's core systems were built decades ago and they are still operating on them!! Talk about old and creaky.

    Technical disruption is coming for the banks. I'm not convinced any of them are going to survive it. No great loss.
     
  17. wrcmad

    wrcmad Well-Known Member Silver Stacker

    Joined:
    Jan 2, 2012
    Messages:
    6,817
    Likes Received:
    1,477
    Trophy Points:
    113
    Location:
    Northern NSW
    I don't have enough cognitive bias to be able to convince myself that it is insurance.
    If I pay insurance and lose the premium because I don't use it, I still have the underlying insured asset.
    The trouble I have with BTC is that there is no underlying.... a point seemingly lost on PM stackers who used to live by the philosophy of tangible assets? My mind boggles?
    What you have described above is a pure punt.
    And I have kept up with BTC gains so far over the last 18 months trading real assets, so I do not feel the need to deviate.
     
    66rounds and mmm....shiney! like this.
  18. wrcmad

    wrcmad Well-Known Member Silver Stacker

    Joined:
    Jan 2, 2012
    Messages:
    6,817
    Likes Received:
    1,477
    Trophy Points:
    113
    Location:
    Northern NSW
    My chart-brain doesn't see bullish..... it sees a distinct loss in momentum. When I try to envisage where it is going, I see this (though I am probably wrong):

    BTC22.jpg
     
    66rounds and mmm....shiney! like this.
  19. mmm....shiney!

    mmm....shiney! Moderator Silver Stacker

    Joined:
    Nov 15, 2010
    Messages:
    21,668
    Likes Received:
    4,447
    Trophy Points:
    113
    Location:
    昆士蘭
    I think if you want to see bullish or bearish momentum then you’d probably be better off looking at volume rather than a log chart showing price. ;)
     
    wrcmad likes this.
  20. wrcmad

    wrcmad Well-Known Member Silver Stacker

    Joined:
    Jan 2, 2012
    Messages:
    6,817
    Likes Received:
    1,477
    Trophy Points:
    113
    Location:
    Northern NSW
    Yeah, none of that nerd-technics gives me a hard-on at all.
    I just don't get excited by it. Besides, it is attached to the dollar by price.... so it is just another thing someone is selling to me.
    Some get the same excitement by all the unique properties of PM's - it doesn't excite me either, I just see a simple metal commodity.
    If a want an electronic, networked, technically different way to transact that doesn't involve money, I just use a CC and paywave. :p
     
    66rounds likes this.

Share This Page