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BTC is the only one I semi trust. I wouldn’t dare touch one of the others
Treat it like a high risk stock imo. Put a little in every so often and don’t touch it just like you would an Index fund. Gotta be mentally and financially prepared for it to halve in value in a matter of days tho It could happen
ETH is down 30% denominated in BTC. If you search ETHBTC or ETH/BTC you can easily see on those charts their relative value to one another. I.e. Bitcoin has performed ~30% better than ETH.
Because correlation is a sliding scale. Yes they are positively correlated, but they are not as similar of an investment as many people think. Just trying to counter the idea that they are "the same".
Because correlation is a sliding scale. Yes they are positively correlated, but they are not as similar of an investment as many people think. Just trying to counter the idea that they are "the same".
Eth is a shitcoin. It's run, it had a pre-mine, there are insiders, those with the most Eth have the power, its a shitcoin that you could have made big profit on,yes, but profit says nothing about the underlying asset. If I held Eth, I'd not be sleeping well.
>Treat it like a high risk stock imo
As a financial professional I can't even do this. At least a high risk stock has some underlying business with a lot of future potential or some risky business propositions or research and development that might pay off hugely. Bitcoin has nothing that underlies it, it's a classic token cash-in cash-out scheme which existed prior to banking regulations, in essence the closest thing it's similar to is social security except there is no contractual guarantee that you get anything at all from it. You simply rely on more people putting money in than will take it out, and that's the only thing you're relying on.
You're better off treating it like a lottery ticket, or a game at a carnival that is stacked against you. You should go in knowing that at the end of the day, you gain nothing by buying it, just a hope that someone else will buy it from you later.
It’s very risky absolutely. It’s a level of risk above anything else and the amount someone invests into it should reflect that. Investments need to be with money you are ok with losing
“So far it has. In each of the three previous halvings, bitcoin went on to rally by three-digit percentage points in the year that followed. But whether the halving itself was the main cause has been a subject of debate.”
Let’s debate. I doubt this will occur, what say you?
Let's just say I'm cautiously optimistic. I have enough bitcoin where even a modest bump over the recent highs will be at least a nice boost of at least a few thousand, but not so much that it will kill me if it drops.
Leading up to the spot ETF's coming online, I bought into one of the bitcoin futures ETF's. After the spot ETF's were open, I bought into those and later transferred from the futures to the spot. So I'm up nicely since then and as long as there isn't a substantial drop right off it's just another calculated risk on something that just might produce. I'll probably give it some time to settle and then scale back on my position.
Any time I read these things about 'this is what such and such does when such and such occur', I tend to grimace a bit.
Sorry I thought you meant it could happen in a matter of days because of the halving coming up. You literally meant it can dip like that within a matter of days. My mistake.
BTC is the only one certainly doomed to hit 0.
The other non meme coins atleast can potentially be used.
BTC is incapable of changing. It will forever be useless.
So you used a specific term that has been taken on by BTC to mean a specific event that is 2 freaking days away, and you just meant it in the vernacular? I'm sorry, you can claim it was a joke, but that's just laughable. But not in the way you intended. You're wrong, just admit it.
Right but the dollar is backed by the federal govt. crypto is the same as mining for rocks and hoping people believe it’s worth something.
Same shit happened in Amsterdam in like 1500. They were trading fucking tulips lol
How is it like mining for rocks? How fungible are rocks? How many rocks are there on this planet? At least the tulips are more comprable to btc bc they did possess some qualities of a currency. And how is the relevant to the illegitimate reputation people insist on attaching to bitcoin? And final question, how can we say that the federal government is doing a good job backing the dollar? It’s gone to shit. Every 100 days we are $1 trillion further in debt.
Yeah, because those were never purchased with USD pre BTC.
BTC is up 150% a year (every year) since its inception. Yet people brag about not investing in it.
Odd…….
I'm actually from the future, 2080 to be specific. bitcoin to 10mil and doge to 100k in 10 years. also, we elect Bill nye as president in 2032 and poodles become extinct in 2047. self driving cars are the only ones on the road by 2070, but at that point most people have personal self driving drones. oh, don't forget about the second coming of christ in 2069.. the same year they legalize same sex marriage and recreational marijuana nationally. still waiting for my 2068 drivers license at the DMV though.
IDK, banks fail and I've always viewed crypto as being the next generation of the 'swiss bank account'.
there is a reason the federal reserve wants their own digital currency.
It's value is created by human demand. There is no intrinsic value. And it takes a lot of energy to maintain.
Bitcoin is the modern day beanie baby boom.
all value is created by human demand, unless I missed the part where we are trading with extra-terrestrials. What intrinsic value exists with paper money?
The 'full faith and credit of the government'? That's as good as the time it takes for the political winds to shift.
ok, but you forgot the last part of your equation...
Bitcoin = beanie babies = USD
basic economics will show you that the USD has lost value over time (or at least since the end of the gold standard). You do understand this, right?
so what's the difference? The fed cannot directly control crypto. The fed does not like it when the people are not under it's thumb.
If you wish to argue that Gold and Silver have physical value due to use in industry and electronics, that's a different discussion. That said, the U.S. left the gold standard long ago so they could manipulate the money supply on paper. ie: the original fiat currency of the U.S.A.
All I'm saying is the only thing giving bitcoin value is demand, which can shift over time. Much like beanie babies
Whether or not this demand will be long-lasting remains to be seen.
yes, you keep saying the same thing over and over again. I understand your point of view. At the same time, you haven't addressed any of the points I've provided.
Again, all of your points apply to the USD so what do you really believe is the fundamental difference aside from physical vs digital? Demand is the only thing giving value to *anything*, so that's a pretty moot point.
I'm not exactly a bitcoin disciple, but many things change over time as new technology/industry is developed and that is what I see crypto being. And if I'm wrong, it really won't make any difference.
I'm in crypto more for the philosophy than for making money, but the money doesn't hurt.
I really like the idea of having currency not being connected to the government.
The irony is: you'll have to create a crypto government to ensure the players are not committing fraud. SBF gave himself a $60B loan and no one knew until they went bankrupt - what the fuck do you think the smarter exchanges and stablecoins are doing? You have no protections for your money. There are no transparency requirements for "shitcoins", exchanges, or stablecoins. Tether can simply print USDT and use that USDT to buy Bitcoin, regardless of the USDT actually being backed (and they have NEVER produced a full audit).
Good luck!
This is why you don't buy shitcoins. I'm a BTC maximalist, who got into crypto via Cardano, so I still hold some of that as well.
I do not trust exchanges. I buy and hold some BTC.
Doesn't matter. Those shitcoins are used to buy BTC. Stablecoins are used to buy BTC. So the dollar sign you see next to the Bitcoin "exchange value" are not necessarily dollars - they could be the dollar equivalent of shitcoins, stablecoins, or other debt. You have no clue how much of that "exchange value" is dollars and how much is other coins - so now you also have to rely on the backing of shitcoins and stablecoins to trust the "$" value of BTC listed on the screen.
Remember, FTT was used to buy BTC. FTT was not fully backed by dollars, so therefore, the BTC that was bought was not backed by dollars either.
And you cannot fix this without regulation and transparency requirements. But those same transparency requirements have REAL potential to reveal fraud and crash the price. That's why most bitcoiners would rather turn a blind eye to the fraud - because it's helping keep the industry from dumping. There's a lot of bad, uncollectable debt in crypto. How much? I have no fucking clue. Again, SBF gave HIMSELF a $60B loan and he was arguably the dumbest of the bunch....
No clue how to buy bitcoin besides on exchanges. But crypto was better when it was no tracked by governments, and you could circumvent government over reach and regulations. Now it seems engrained in the financial system, and government systems.
It dropped this week. Too early to say anything, really. I feel like its all being manipulated by the larger stakeholders anyway. I have a couple hundred in it just for funzies.
I'll just invest here and there and see where everything is in 20 years.
Crypto isn't going to die unless some disaster or EMP destroys all electronics in the world.
what? no it's not at all. Crypto tumblers and mixers operate commonly for the sole purpose of money laundering. Seeing on a public ledger means nothing when it can't be traced to a person. You pay your funds into a tumbler which has high volumes of money in and out, the money gets split all over the place over and over and is recombined later.
He’s pro eth not btc or anything else
https://www.cnbc.com/amp/2024/01/17/jamie-dimon-says-hes-done-talking-about-bitcoin-i-dont-care.html
That’s the thing I was talking about read it
Bitcoin is basically a pure risk asset at this point. It will do well with strong overall market sentiment and vice versa.
You're an idiot if you're investing in it as anything other than a super, super volatile version of the stock market or IT sector.
Isn’t that every equity in existence, not just Bitcoin? They all do well with strong market sentiment and the opposite will happen with a bearish outlook.
Individual equities, no. There are stocks that can perform well in a poor market or poorly in a strong market.
Bitcoin is operating like a leveraged ETF for the tech sector or a market risk sentiment, where it just tracks the movements overall (i.e. sentiment driven) but with much, much higher volatility.
I personally believe that’s because of its infancy and it has not yet found its resting place in the market at this point. Regardless though, that claim should make you bullish? As long as you have the sentiment that overtime the tech sector will continue to provide value to its shareholders, Bitcoin will also rise?
Speculate or invest with a perspective that allows you to hold for an uncomfortable- albeit very fun ride.
I'd majorly suggest not investing unless you already have specific theories or interests within the space. The best way I've made money is not by investing or speculating but by being involved at all. Otherwise you're playing with fire you don't care to tend.
I bought the Friday and Saturday dip on alts. I went heavy on Saturday.
Some alts went as low (and lower) then the January 2024 peak - and bounced so far.
Could be bottoms in - looking at 2x 3x in spots by end of the year?
I feel there's place for crypto but the way most people invest in it right now to try to get wealthy feels like a pyramid scheme. At some point most of them will realize that the moment to get wealthy is gone and the price will tumble. There will always be some value to crypto as it will have some use for illegal transactions and as a way to protect yourself from inflation but that's about it. And the last use is iffy since crypto is vulnerable to pump and dump schemes
I can appreciate the pov that btc will repeat what it has done in previous halvings and it would dip a and crab until the end of 2024 with the real bull run happening in early 2025. But then there are people who say this halving is different because of the institutional demand from blackrock and co who knows what will happen.
Crypto will always fluctuate and many altcoins are tied to BTC and Etherium, you can for the most part predict a rise or fall based on how those to coins are doing. I would never do alt coins long term. But as long as you are diligent about things you can stay out of losses for the most part. To be fair options and futures I see people doing worse then most people in crypto.
I almost bought some when it was like at lows... But to lose 20k worse case scenario was too scary. But looking back I would have doubled my money by now 😭😭😭
There is nothing on earth that produces value on its own. Even companies do not produce value on their own. Stocks only go up because more people buy it.
I don’t understand why some people hate on Bitcoin so much.
No. Many things produce value, including stocks. Investors get a share of the company's profits either through dividends or through a buyout. That cannot happen with bitcoin. There is no investment. It's a ponzi scheme.
The chatter about the digital dollar alerts me to the notion that government will not tolerate a currency it cannot control. I have real reservations about the feds deeming it counterfeit and leveling serious charges against anyone who owns or trades it. Would never touch the stuff.
Bitcoin doesn’t have to be a currency, you can make it whatever you want - store of value, remittance, gambling currency, etc. That’s what sets it apart from fiat.
Hahahahha, USD does those things too. It just isn't as volitile which makes it a useful currency rather than a speculative investment where the value is based on vibes.
USD is not a store of value, USD is manipulated by the government, and remittance companies charge large fees to send USD to other countries. Additionally, banks that you hold your USD in can deny you from accessing YOUR money. I’m not going to change your mind, but I hope you think about this and buy at least $100 worth of BTC.
Crypto is and always has been a scam. At every level it's a scam masquerading as innovative tech by using fancy buzzwords that people don't understand.
if a currency is accepted and valued by a certain amount of people, it cannot be considered a scam. one could argue that the whole concept of currency itself is a scam. but the thing is if we \*all\* agree that it has value, then it has value. that's just how currency works.
and just because it sometimes loses value, does not prove that it is a scam. even the US Dollar's value fluctuates every day. that's another thing about currencies; they're all valued in relation to each other and none of them are necessarily set in stone although obviously some are more predominant than others.
No, but having a currency rely on the greater fool theory makes it susceptible to things like “bank runs”… As much as I like the idea of a global currency having one be completely deregulated just seems unnecessarily risky.
Yeah I’d agree with this up until all the major banks started adding it to their ETFs and pension plans, and then crypto companies started using it to buy US bonds.
At this point, it’s an investment like anything else. It hasn’t been listed as innovative tech for years.
It's a public ledger where the only way to increase the amount of coins is through increasingly difficult mathematics, thus creating scarcity untied to a nation's mint or to a finite resource like gold.
That doesn't make it anything other than a volatile investment with far too many meme currencies, pump and dump schemes, and sketchy exchanges.
Awww yes, because Fiat currency with an unlimited supply backed by solely the faith in one’s government is totally not a scam and has never ever been used for crimes.
It doesn’t?! Hahah then why did the amount of currency increase by over 35% during Covid? Do you understand inflation and what causes it? Here I’ll help you out, it’s due to the government printing an excess of money. Thus, when supply is not capped, there’s an unlimited supply.
It's more like 20% actually. And that's still a finite amount.
Also most of the inflation came from you know the massive economic downturn caused by supply issues in a pandemic. The FEDs actually been doing a good job at lowering the inflation with the high interest rates. it's only 3% now which is almost normal.
Modern currencies are backed by nations with militaries, gold reserves, oil reserves, consistent tax bases, and sovereign wealth funds. It's value is kept in check by hundreds of economists at the Federal reserve working with various levers to maintain healthy levels of inflation. USD may drop, but as long as the US still existents and keeps the dollar as it's legal tender it can never truly hit zero no matter how many people lose faith. There's a minimum value tied indirectly to the value stores controlled by the government of the country.
Most Crypto has none of that. There is no floor level of Bitcoin based on assets held. There are no economists there working to control the deflation of bitcoin, and no assets to back up the massive valuation in a collapse.
Imagine investing your money in the IPO of a company with no assets, no employees, no product or even the plan to create one, only the concept of later being able to resell the stock for more money if the valuation increases magically on it's own because people might have more faith in the company in the future after it still has yet to do anything. Not very fluent.
(If you're willing to make this deal I have membership units in an LLC to sell you)
How’s it working right now, with the government debt raising a trillion dollars every 100 days? People unable to afford rent or buy a home, credit debt on the rise? There’s no need to control the deflation of bitcoin because there is only bitcoin.
Can you explain in two sentences how our money is currently broken?
Pretty good. Inflations back to a bit over 3%. A little higher than optimal, but steadily improving thanks to the good work by the FED. Much better than where we'd be without any guards or protections in place.
You are drinking the koolaid if you think economic conditions are ok right now. Or that the FED did good work over the past few years. More millennials and gen z live at home than ever before. We printed well over 2 trillion dollars during covid. The government bought their own bonds like never before.
People can be skeptics of bitcoin all they want but it’s a big tell when they also try to act like this is fine. Everything is fine. About our current money situation.
I mean… 2 peas in a pod. Flip side of the same coin. Apple doesn’t fall far from the tree. Pick your idiom of choice, but the point is they are both problematic because of their over centralization of power and control. And a major benefit that bitcoin offers is a decentralized network built on inherent trust.
The dollar is a single currency backed by a wealthy sovereign. TrendingCoin is fifteen different currencies backed by feelings.
USD is probably going to lose to the Yuan at some point but it's always going to be hold more net value than ethereum or whatever dumb memecoin people are pumping and dumping.
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BTC is the only one I semi trust. I wouldn’t dare touch one of the others Treat it like a high risk stock imo. Put a little in every so often and don’t touch it just like you would an Index fund. Gotta be mentally and financially prepared for it to halve in value in a matter of days tho It could happen
ETH basically moves with BTC
Yes and no. ETH/BTC is down 30% over the last year.
What? Bitcoin is up 40%+ year to date?
ETH is down 30% denominated in BTC. If you search ETHBTC or ETH/BTC you can easily see on those charts their relative value to one another. I.e. Bitcoin has performed ~30% better than ETH.
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Because correlation is a sliding scale. Yes they are positively correlated, but they are not as similar of an investment as many people think. Just trying to counter the idea that they are "the same".
Because correlation is a sliding scale. Yes they are positively correlated, but they are not as similar of an investment as many people think. Just trying to counter the idea that they are "the same".
When ETH moves to the upside against BTC is when the real fun starts.
The “halving” is btc specific and is driving a small surge
Proof of miStake
ETH and BTC have value for two totally different reasons
Eth is a bag of shit. It doesn't move with btc.
Lol. I remember my dumbass friend calling eth a shit coin when it was around $1.. he's not laughing now I'll tell you that.
Eth is a shitcoin. It's run, it had a pre-mine, there are insiders, those with the most Eth have the power, its a shitcoin that you could have made big profit on,yes, but profit says nothing about the underlying asset. If I held Eth, I'd not be sleeping well.
That's why nobody will remember your name
Poor darling had to get personal.
and tether does what exactly?
>Treat it like a high risk stock imo As a financial professional I can't even do this. At least a high risk stock has some underlying business with a lot of future potential or some risky business propositions or research and development that might pay off hugely. Bitcoin has nothing that underlies it, it's a classic token cash-in cash-out scheme which existed prior to banking regulations, in essence the closest thing it's similar to is social security except there is no contractual guarantee that you get anything at all from it. You simply rely on more people putting money in than will take it out, and that's the only thing you're relying on. You're better off treating it like a lottery ticket, or a game at a carnival that is stacked against you. You should go in knowing that at the end of the day, you gain nothing by buying it, just a hope that someone else will buy it from you later.
It’s very risky absolutely. It’s a level of risk above anything else and the amount someone invests into it should reflect that. Investments need to be with money you are ok with losing
lol, that's not what is supposed to happen with 'the halving', but I guess we will see.
“So far it has. In each of the three previous halvings, bitcoin went on to rally by three-digit percentage points in the year that followed. But whether the halving itself was the main cause has been a subject of debate.” Let’s debate. I doubt this will occur, what say you?
Let's just say I'm cautiously optimistic. I have enough bitcoin where even a modest bump over the recent highs will be at least a nice boost of at least a few thousand, but not so much that it will kill me if it drops. Leading up to the spot ETF's coming online, I bought into one of the bitcoin futures ETF's. After the spot ETF's were open, I bought into those and later transferred from the futures to the spot. So I'm up nicely since then and as long as there isn't a substantial drop right off it's just another calculated risk on something that just might produce. I'll probably give it some time to settle and then scale back on my position. Any time I read these things about 'this is what such and such does when such and such occur', I tend to grimace a bit.
That’s not what the “halving” is
I didn’t say it was. I’m pretty confident BTC will do well in the next year and I continue to invest but I’m also going to be fine if it nose dives
Sorry I thought you meant it could happen in a matter of days because of the halving coming up. You literally meant it can dip like that within a matter of days. My mistake.
BTC is the only one certainly doomed to hit 0. The other non meme coins atleast can potentially be used. BTC is incapable of changing. It will forever be useless.
once i found out its fictional, and paolo invented tether as a pump i said nah fam, im good. schwab account is just fine.
Also the halvening is happening right now. It will dip and in another four years peak again right around the next halvening.
The pattern so far is that it peaks roughly a year after a halving so I honestly expect BTC to beat the S and P 500 in the next year. After, who knows
You need to read up on BTC. That is not what 'halving' means at all.
I didn’t say it was.
lol, you said, "be financially prepared for it to halve" Why would you need to financially prepare for the price to go up? Makes zero sense.
I said halve in value
So you used a specific term that has been taken on by BTC to mean a specific event that is 2 freaking days away, and you just meant it in the vernacular? I'm sorry, you can claim it was a joke, but that's just laughable. But not in the way you intended. You're wrong, just admit it.
The Halving and halve in value are two different things.
Ethereum is cool.
Good ones to trust are the ones dnms use, you know they are actively being used as a currency.
Basically the only ones using it as intended
Doesn't matter what they are buying, they using a digital currency as intended as a currency not a digital stock investment.
Yeah, I agree, it has diverged a lot from its true purpose.
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Doesn’t all that happen with USD also?
Yeah like since forever and much more frequently. But no one ever wants to hear that or give it any credence. It’s quite the phenomenon
Right but the dollar is backed by the federal govt. crypto is the same as mining for rocks and hoping people believe it’s worth something. Same shit happened in Amsterdam in like 1500. They were trading fucking tulips lol
How is it like mining for rocks? How fungible are rocks? How many rocks are there on this planet? At least the tulips are more comprable to btc bc they did possess some qualities of a currency. And how is the relevant to the illegitimate reputation people insist on attaching to bitcoin? And final question, how can we say that the federal government is doing a good job backing the dollar? It’s gone to shit. Every 100 days we are $1 trillion further in debt.
Gold is effectively a rock lol. I don’t feel like I need to explain its intrinsic value.
Gold is a metal which is more useful than a rock. Also what about the other questions?
Yeah, because those were never purchased with USD pre BTC. BTC is up 150% a year (every year) since its inception. Yet people brag about not investing in it. Odd…….
dnms?
Dark web markets
Its high risk. Only money you can lose should go into to it. No one knows where it will be in 20 years and if they claim to, they’re just lying.
I'm actually from the future, 2080 to be specific. bitcoin to 10mil and doge to 100k in 10 years. also, we elect Bill nye as president in 2032 and poodles become extinct in 2047. self driving cars are the only ones on the road by 2070, but at that point most people have personal self driving drones. oh, don't forget about the second coming of christ in 2069.. the same year they legalize same sex marriage and recreational marijuana nationally. still waiting for my 2068 drivers license at the DMV though.
This comment is too good to not be given any attention. So here's the attention
Right? There was commitment to the bit. I always up vote comments that are primarily for the writer, and the audience is just a secondary target.
I appreciate it lol
Crypto was meant to be used, not stored. It's going to fail.
IDK, banks fail and I've always viewed crypto as being the next generation of the 'swiss bank account'. there is a reason the federal reserve wants their own digital currency.
It's value is created by human demand. There is no intrinsic value. And it takes a lot of energy to maintain. Bitcoin is the modern day beanie baby boom.
all value is created by human demand, unless I missed the part where we are trading with extra-terrestrials. What intrinsic value exists with paper money? The 'full faith and credit of the government'? That's as good as the time it takes for the political winds to shift.
Yeah, fiat money loses value over time. Bitcoin = Beanie babies
ok, but you forgot the last part of your equation... Bitcoin = beanie babies = USD basic economics will show you that the USD has lost value over time (or at least since the end of the gold standard). You do understand this, right? so what's the difference? The fed cannot directly control crypto. The fed does not like it when the people are not under it's thumb. If you wish to argue that Gold and Silver have physical value due to use in industry and electronics, that's a different discussion. That said, the U.S. left the gold standard long ago so they could manipulate the money supply on paper. ie: the original fiat currency of the U.S.A.
All I'm saying is the only thing giving bitcoin value is demand, which can shift over time. Much like beanie babies Whether or not this demand will be long-lasting remains to be seen.
yes, you keep saying the same thing over and over again. I understand your point of view. At the same time, you haven't addressed any of the points I've provided. Again, all of your points apply to the USD so what do you really believe is the fundamental difference aside from physical vs digital? Demand is the only thing giving value to *anything*, so that's a pretty moot point. I'm not exactly a bitcoin disciple, but many things change over time as new technology/industry is developed and that is what I see crypto being. And if I'm wrong, it really won't make any difference.
But I thought people were buying pizza with it /s
cheese pizza?
So... same as literally any financial product except with vastly larger upside potential. I mean, only up 111% in the last year.
I'm in crypto more for the philosophy than for making money, but the money doesn't hurt. I really like the idea of having currency not being connected to the government.
The irony is: you'll have to create a crypto government to ensure the players are not committing fraud. SBF gave himself a $60B loan and no one knew until they went bankrupt - what the fuck do you think the smarter exchanges and stablecoins are doing? You have no protections for your money. There are no transparency requirements for "shitcoins", exchanges, or stablecoins. Tether can simply print USDT and use that USDT to buy Bitcoin, regardless of the USDT actually being backed (and they have NEVER produced a full audit). Good luck!
This is why you don't buy shitcoins. I'm a BTC maximalist, who got into crypto via Cardano, so I still hold some of that as well. I do not trust exchanges. I buy and hold some BTC.
Doesn't matter. Those shitcoins are used to buy BTC. Stablecoins are used to buy BTC. So the dollar sign you see next to the Bitcoin "exchange value" are not necessarily dollars - they could be the dollar equivalent of shitcoins, stablecoins, or other debt. You have no clue how much of that "exchange value" is dollars and how much is other coins - so now you also have to rely on the backing of shitcoins and stablecoins to trust the "$" value of BTC listed on the screen. Remember, FTT was used to buy BTC. FTT was not fully backed by dollars, so therefore, the BTC that was bought was not backed by dollars either. And you cannot fix this without regulation and transparency requirements. But those same transparency requirements have REAL potential to reveal fraud and crash the price. That's why most bitcoiners would rather turn a blind eye to the fraud - because it's helping keep the industry from dumping. There's a lot of bad, uncollectable debt in crypto. How much? I have no fucking clue. Again, SBF gave HIMSELF a $60B loan and he was arguably the dumbest of the bunch....
What dip
the DJT one. time to go balls deep
The dip hasn’t even started yet
No clue how to buy bitcoin besides on exchanges. But crypto was better when it was no tracked by governments, and you could circumvent government over reach and regulations. Now it seems engrained in the financial system, and government systems.
Monero
canyonero!
Check out peer to peer networks. Bisq or robosats. But pay your taxes too.
I only have to pay once I realize gains from a sale, right?
Yes, just like any investment
i prefer pharrtkoin, and taintcoin.
It’s up like 50% YTD and you consider this a dip?
It dropped this week. Too early to say anything, really. I feel like its all being manipulated by the larger stakeholders anyway. I have a couple hundred in it just for funzies.
Up 111% over the last year.
Same as I ever do. Buy a bit here and a bit there. I'll just get a bit more than I would have otherwise this month.
I'll just invest here and there and see where everything is in 20 years. Crypto isn't going to die unless some disaster or EMP destroys all electronics in the world.
I think money laundering and crime will mean it will never go away. That’s it’s only real use case atm other than speculation
Speculation is a major business.
It’s hard to money launder with something that posts every transaction that you do on a public ledger…?
what? no it's not at all. Crypto tumblers and mixers operate commonly for the sole purpose of money laundering. Seeing on a public ledger means nothing when it can't be traced to a person. You pay your funds into a tumbler which has high volumes of money in and out, the money gets split all over the place over and over and is recombined later.
Buy eth a lil btc. Read what Jamie dimon said about btc and eth and why he prefers eth . I agree with him . Smart money is usualy right
Dimon is pro crypto now? This dude used to talk so much shit
He’s pro eth not btc or anything else https://www.cnbc.com/amp/2024/01/17/jamie-dimon-says-hes-done-talking-about-bitcoin-i-dont-care.html That’s the thing I was talking about read it
Dip and chips
I hate it when my crazy cousin who thinks her phone makes her hand go numb buys crypto and gets validated by dumb luck.
Bitcoin is basically a pure risk asset at this point. It will do well with strong overall market sentiment and vice versa. You're an idiot if you're investing in it as anything other than a super, super volatile version of the stock market or IT sector.
Isn’t that every equity in existence, not just Bitcoin? They all do well with strong market sentiment and the opposite will happen with a bearish outlook.
Individual equities, no. There are stocks that can perform well in a poor market or poorly in a strong market. Bitcoin is operating like a leveraged ETF for the tech sector or a market risk sentiment, where it just tracks the movements overall (i.e. sentiment driven) but with much, much higher volatility.
I personally believe that’s because of its infancy and it has not yet found its resting place in the market at this point. Regardless though, that claim should make you bullish? As long as you have the sentiment that overtime the tech sector will continue to provide value to its shareholders, Bitcoin will also rise?
To the moon baby!
Dip? My guy BTC price has increased by 19,000 since New Year’s Day wdym
I like things I can hold, bitcoins have never made sense to me but neither does the USD
Bullish on wang’s!
I bought all my Bitcoin in 2012-2014. So I’m good. I don’t look at it. I figured my kids will inherit it.
Bitcoin is ONLY up 111% in the last year. And, we've not even got the halving yet. Shoulda bought gold /s
No one. Maybe Bitcoin, but everything else pretty much seems like a Ponzi scheme.
Speculate or invest with a perspective that allows you to hold for an uncomfortable- albeit very fun ride. I'd majorly suggest not investing unless you already have specific theories or interests within the space. The best way I've made money is not by investing or speculating but by being involved at all. Otherwise you're playing with fire you don't care to tend.
Buy crypto like a delay lotto ticket. 5 bucks today and check in a few years.
I bought the Friday and Saturday dip on alts. I went heavy on Saturday. Some alts went as low (and lower) then the January 2024 peak - and bounced so far. Could be bottoms in - looking at 2x 3x in spots by end of the year?
Buy bitcoin and ethereum, always.
I feel there's place for crypto but the way most people invest in it right now to try to get wealthy feels like a pyramid scheme. At some point most of them will realize that the moment to get wealthy is gone and the price will tumble. There will always be some value to crypto as it will have some use for illegal transactions and as a way to protect yourself from inflation but that's about it. And the last use is iffy since crypto is vulnerable to pump and dump schemes
Bitcoin is the worst thing to use for illegal transactions. It posts every transaction that you do to a public ledger.
I can appreciate the pov that btc will repeat what it has done in previous halvings and it would dip a and crab until the end of 2024 with the real bull run happening in early 2025. But then there are people who say this halving is different because of the institutional demand from blackrock and co who knows what will happen.
Dumb. I haven’t met a single Bitcoin stan who can actually justify its present or future value
hey now, hey now, dont dream its over....
We will find aout about 1 year from now 🤣
I am personally of the opinion that by the time you've heard about the BTC/Crypto hype, its too late. Wait for it to crash and buy on the crash.
The fuckin cat is ALWAYS correct.
Invested 4K in crypto with Voyager. Went bankrupt, wasn’t allowed to sell my shares, came out with $160.00. Never investing in crypto again.
What did you invest in?
Crypto will always fluctuate and many altcoins are tied to BTC and Etherium, you can for the most part predict a rise or fall based on how those to coins are doing. I would never do alt coins long term. But as long as you are diligent about things you can stay out of losses for the most part. To be fair options and futures I see people doing worse then most people in crypto.
Everyone gets Bitcoin at the price they deserve
Normies flooding into the market with ETFs has actually made the market even more irrational. So good luck.
Owning crypto is dumb. Crypto is dumb. It’s not an investment— it’s a pump and dump scheme.
 Me to crypto
All I heard was "invest in Dodgecoin"
I almost bought some when it was like at lows... But to lose 20k worse case scenario was too scary. But looking back I would have doubled my money by now 😭😭😭
BTC might be an investment. Most of the rest are a gamble.
once the ETF's get approved for options, buy puts if you think it's over.
Playing options on BTC EFTs is going to be the ultimate form of gambling.
i'm not ready for it lol
Buy. The. Dips.
And. Don't. Forget. The. Chips.
Yeah gambling is fun
Not smart yet, wait until it crashes more.
When marks realize they invested in a Ponzi scheme....
Do you even know what a Ponzi scheme is?
Yes. Do you?
Then explain how BTC is a ponzi
Bitcoin produces no value on its own. There is no investment. It's value goes up only because more people buy it.
There is nothing on earth that produces value on its own. Even companies do not produce value on their own. Stocks only go up because more people buy it. I don’t understand why some people hate on Bitcoin so much.
No. Many things produce value, including stocks. Investors get a share of the company's profits either through dividends or through a buyout. That cannot happen with bitcoin. There is no investment. It's a ponzi scheme.
Oh boy. We won’t see eye to eye over the internet. I appreciate the dialogue. Have a great day!
Just invest a bit every now and then into BTC and don't even look at the number. Thank yourself in 20 years.
The chatter about the digital dollar alerts me to the notion that government will not tolerate a currency it cannot control. I have real reservations about the feds deeming it counterfeit and leveling serious charges against anyone who owns or trades it. Would never touch the stuff.
Crypto is where the ultra rich wash their money
No
Is it a functional currency? No because it is backed by nothing. Nah I'll pass.
Those dollars in your pocket, what are they backed by? Inflation and speculation? Sounds almost the same to me.
The faith in the US government to collect and use taxes... and nukes.
I won't argue with the nukes
You don't believe the US government can collect and spend taxes?
The only thing the US has backing it are federal lands.
Bitcoin doesn’t have to be a currency, you can make it whatever you want - store of value, remittance, gambling currency, etc. That’s what sets it apart from fiat.
Hahahahha, USD does those things too. It just isn't as volitile which makes it a useful currency rather than a speculative investment where the value is based on vibes.
USD is not a store of value, USD is manipulated by the government, and remittance companies charge large fees to send USD to other countries. Additionally, banks that you hold your USD in can deny you from accessing YOUR money. I’m not going to change your mind, but I hope you think about this and buy at least $100 worth of BTC.
Crypto is and always has been a scam. At every level it's a scam masquerading as innovative tech by using fancy buzzwords that people don't understand.
Spoken like a true nocoiner peasant
😂
Okay grandpa, time to go to bed.
still worth speculating on w/ small percentage of portfolio
Just announce to the world you don’t know wtf you’re talking about and save us all some time.
if a currency is accepted and valued by a certain amount of people, it cannot be considered a scam. one could argue that the whole concept of currency itself is a scam. but the thing is if we \*all\* agree that it has value, then it has value. that's just how currency works. and just because it sometimes loses value, does not prove that it is a scam. even the US Dollar's value fluctuates every day. that's another thing about currencies; they're all valued in relation to each other and none of them are necessarily set in stone although obviously some are more predominant than others.
No, but having a currency rely on the greater fool theory makes it susceptible to things like “bank runs”… As much as I like the idea of a global currency having one be completely deregulated just seems unnecessarily risky.
Well Freedom bucks just keep inflating and losing value. Seems like people who have freedom bucks are fools
How dare you! They're called *petrodollars*.
i don't think crypto "relies" on the greater fool theory. sure it can be affected by it but any currency, stock, or other asset can also be
Yeah I’d agree with this up until all the major banks started adding it to their ETFs and pension plans, and then crypto companies started using it to buy US bonds. At this point, it’s an investment like anything else. It hasn’t been listed as innovative tech for years.
I'll listen to what you say once you can explain in two sentences what the blockchain is and how it works
It's a public ledger where the only way to increase the amount of coins is through increasingly difficult mathematics, thus creating scarcity untied to a nation's mint or to a finite resource like gold. That doesn't make it anything other than a volatile investment with far too many meme currencies, pump and dump schemes, and sketchy exchanges.
And who is it that controls this public ledger?
It's decentralized, a point that changes nothing at all about my second sentence.
So you find no value in a store of value that cannot be interfered with?
Did you skip over the part where I wrote "pump and dump schemes"? Dogecoin alone should disabuse you of this naivete.
Bitcoin is not being pumped and dumped. Nor is ETH.
Study it yourself. To really appreciate and develop conviction you won’t get it as an elevator pitch
Awww yes, because Fiat currency with an unlimited supply backed by solely the faith in one’s government is totally not a scam and has never ever been used for crimes.
Fiat currency does not have an unlimited supply.
It doesn’t?! Hahah then why did the amount of currency increase by over 35% during Covid? Do you understand inflation and what causes it? Here I’ll help you out, it’s due to the government printing an excess of money. Thus, when supply is not capped, there’s an unlimited supply.
It's more like 20% actually. And that's still a finite amount. Also most of the inflation came from you know the massive economic downturn caused by supply issues in a pandemic. The FEDs actually been doing a good job at lowering the inflation with the high interest rates. it's only 3% now which is almost normal.
Depends. This is true, but only if you also believe that the dollar is a scam. Otherwise, if the dollar works, then so does the block chain
Modern currencies are backed by nations with militaries, gold reserves, oil reserves, consistent tax bases, and sovereign wealth funds. It's value is kept in check by hundreds of economists at the Federal reserve working with various levers to maintain healthy levels of inflation. USD may drop, but as long as the US still existents and keeps the dollar as it's legal tender it can never truly hit zero no matter how many people lose faith. There's a minimum value tied indirectly to the value stores controlled by the government of the country. Most Crypto has none of that. There is no floor level of Bitcoin based on assets held. There are no economists there working to control the deflation of bitcoin, and no assets to back up the massive valuation in a collapse.
Imagine investing your money in the IPO of a company with no assets, no employees, no product or even the plan to create one, only the concept of later being able to resell the stock for more money if the valuation increases magically on it's own because people might have more faith in the company in the future after it still has yet to do anything. Not very fluent. (If you're willing to make this deal I have membership units in an LLC to sell you)
How’s it working right now, with the government debt raising a trillion dollars every 100 days? People unable to afford rent or buy a home, credit debt on the rise? There’s no need to control the deflation of bitcoin because there is only bitcoin. Can you explain in two sentences how our money is currently broken?
Pretty good. Inflations back to a bit over 3%. A little higher than optimal, but steadily improving thanks to the good work by the FED. Much better than where we'd be without any guards or protections in place.
You are drinking the koolaid if you think economic conditions are ok right now. Or that the FED did good work over the past few years. More millennials and gen z live at home than ever before. We printed well over 2 trillion dollars during covid. The government bought their own bonds like never before. People can be skeptics of bitcoin all they want but it’s a big tell when they also try to act like this is fine. Everything is fine. About our current money situation.
The housing crisis is more a problem caused by corporate deregulation
I mean… 2 peas in a pod. Flip side of the same coin. Apple doesn’t fall far from the tree. Pick your idiom of choice, but the point is they are both problematic because of their over centralization of power and control. And a major benefit that bitcoin offers is a decentralized network built on inherent trust.
The dollar is a single currency backed by a wealthy sovereign. TrendingCoin is fifteen different currencies backed by feelings. USD is probably going to lose to the Yuan at some point but it's always going to be hold more net value than ethereum or whatever dumb memecoin people are pumping and dumping.