BTC has crashed so many times I've lost count, but it just won't go away. The anger from the 'dollar is king' crowd always returns en masse during the next bull market. I am continually entertained by the naysayers.
OT: crypto mooning today
- Thread starter PBDog
- Start date
The funny money crowd never stops trying to convince us what good investments crypto is. When's the last time anybody tried to talk you into buying Apple or Berkshire Hathaway?
"I am continually entertained by the naysayers." sounds like praise for funny money, if not then I stand corrected.
It's no less 'funny money' than your average fiat currency. And if someone is risking their own capital speculating on something that's no sweat off my back. I wish them good luck and congratulate them when they win. Meanwhile the folks who get angry are pure entertainment.
I’d be willing to wager 90% of people that invest in crypto already own Apple and/or Berkshire Hathaway.
I'm pretty sure there's an entire industry trying to convince people to buy stocks, bonds, real estate, gold, etc.
Back to the original question: why moon?
The bitcoin price moved from $35k to $44k (+25%) and only 7% of the total supply moved. I wonder if people are waiting to sell at $45k?
I think dollars have to get A LOT cheaper before these psychos decide to buy.
The bitcoin price moved from $35k to $44k (+25%) and only 7% of the total supply moved. I wonder if people are waiting to sell at $45k?
I think dollars have to get A LOT cheaper before these psychos decide to buy.
You didnt say this specifically, but your prior post can absolutely be interpreted how dorn interpreted it.
Saying you are constantly entertained by the naysayers puts you in a position that does not align with the naysayers. Its reasonable to then thing your position therefore aligns with the supporters.
Apparently you are instead just sitting back and eating popcorn while not holding an opinion. Thats rare, but OK.
This thread has simply gone on long enough to not include this:
I used to be a naysayer but the BTC just won't be defeated. And after a number of attempts to compare the intrinsic value of the dollar to that of BTC it's apparent that philosophical positions determine what holds value for the individual. If two people decide to trade BTC for dollars, pesos or Euros, or vice versa, so what? If the BTC holder comes out on top more power to him or her. It's their capital and their risk.. good for them.
They try to convince people to buy bitcoin too. Those guys generally get paid the same regardless of what you buy, as long as a you buy something. The point he was trying to make is that companies like Apple and Berkshire don't have cheerleaders generating "FOMO". Those companies have a book value based on the underlying assets and an expectation of what earnings those assets are going to generate in the future. None of that exist with a crypto asset - the only expectation you have is what you hope someone will pay for it in the future, and it does not generate any kind of income - no dividends, no additional crypto.
Haha that’s completely not true. Ethereum (at the moment 3%), Solana (at the moment 5.7%) and cosmos (10.45%) all are paid like a dividend…but it’s usually paid weekly.
Bitcoin is simply digital gold, it works just like gold which has VERY little intrinsic value. If investing in gold is a pyramid scheme, then so is bitcoin.
The altcoins actually serve a function.
You can put your head in the sand all you want. By your logic, the value of a stock also depends only on what someone hopes someone else will pay for it in the future. All those projections/expectations that you think is gospel is…a guess. AND, manipulated to get people to purchase them.
I’m with you. I’ve got crypto staked earning just under 10% and it’s amazing how “established” financial institutions are chomping at the bit for these ETFs. I’ve got debit cards I use that I can designate which crypto to debit from…..that’s pretty real world use I’d say. DYOR and you’ll be ok
Are you serious? Do you even know what a stock is? It’s a literal stake in the business.
You own Apple stock, you own a piece of everything. That includes all their assets….like buildings / equipment / vehicles, their finished goods that are unsold to the market, their raw materials, their money and investments in the bank (less their debts and outstanding balances), their accounts receivable, their incoming profits on goods sold, as well as other assets like their intellectual property and copyrights. Everything. Those are all very tangible things that have real value. If what you pay for that piece of the business is less than the real book value of those things (and especially if the value of those things is projected to grow in the future), then you have made a wise investment.
It’s the complete opposite of crypto, an asset that cannot be accurately appraised at any point in time.
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Proof in point or let’s just say……first off 5% is 5%? Crypto is kinda like gambling and so is apple. You’re putting your retirement in Apple so you can get 5% in a year….so I take that same amount and can make that 5% in a day. It’s not for the faint of heart, but there are projects out there as to where if you take advantage of an election year and the etf….well you could hit
Proof in point or let’s just say……first off 5% is 5%? Crypto is kinda like gambling and so is apple. You’re putting your retirement in Apple so you can get 5% in a year….so I take that same amount and can make that 5% in a day. It’s not for the faint of heart, but there are projects out there as to where if you take advantage of an election year and the etf….well you could
you bought bitcoin then?
To each his own. Never been one to saving money, then dabbled on Robinhood…..didn’t really know crypto but we’ll get back to that later….you know buy stocks sit and wait and let’s make a few bucks at the end of the year….then crypto, buy on Robinhood it’s free, not really….the spread kills daily trading….then you drift off to the cold wallet
What does it matter how anyone owns it? Is all the money from your most recent paycheck in your sock drawer? I have no idea what you’re getting at here.
That’s quite the explanation.
I wonder if he cares to know that the same house he’s talking about would have been $750k in November 2021, which would have been 11.71 bitcoin, and today at $1 million it would be about 22 bitcoin. So the bitcoin price doubles while the fiat price only increases by 33%. Inflation hedge, huh?
Lets say that house stays at $1 million, but bitcoin increases to a new record high of $67,000 in the next 2 years. That still would have the fiat price and the bitcoin price increasing by the same percentage over that magical 4 year “holding period” he mentions. Doesn’t seem to be any real advantage there.
Anyone can justify their position on crypto, stocks, bonds, a game of blackjack, or a lottery ticket by using hindsight and cherrypicking the right dates and conditions when you buy in and then liquidate. That doesn’t make it prescriptive.
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so no one is planning some small exposure to the etf even though blackrock and the other WS giants are backing?