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RE: The Bitcoin Thread (price and other bitcoin related topics) - Nolimitz - 04-03-2020

@Contrarian

In regards to governments banning bitcoin....here's an article that will help you see why that is not likely.

https://unchained-capital.com/blog/bitcoin-cannot-be-banned/

Simple game theory played out between competing nations. As far as governments creating their own cryptocurrencies. Digital currencies are likely, but to call them cryptocurrencies is an oxymoron.

As far as "Bitcoin is the myspace" of crypto. I disagree. As JJ mentioned above Bitcoin is a protocol with a set of very unique characteristics....one of those being that it's creator is anonymous and there is no central point of failure (others cryptos do not have this important trait).

A similar example is email....a protocol for communicating on the internet. Sure, new protocols could be created....but I highly doubt the world is going to stop using email for the purpose of a few technical improvements. The network is here....everyone uses email, and therein lies the value of a protocol.

Same with bitcoin....it has the largest network effect of all "Cryptos".

"But facebook vs myspace....the value in those is derived from network effects as well."

The difference between social media and a protocol like email or bitcoin is vast.

In summary,

-Bitcoin cannot be banned....governments may try, but they will be shooting themselves in the foot as simple game theory plays out.
-BTC vs other newer technologies is not the same as myspace vs facebook....it is a protocol not social media or a company.
-Lindy effect is true for BTC imo...just look at hash rate/active wallets/marketcap since inception....each day that passes the chances of BTC succeeding increase.

ESPECIALLY taking into account the actions of world central banks and governments. They can try to keep inflating/QEing their way out of the debt bubble, but at some point there will be a day of reckoning.

"But why wouldn't they just return to the gold standard."

Please.

Again, it's not hard to see the value prop of BTC. It's either massively successful and potentially achieves its destiny as a reserve currency or it flops.

If a person can't see the asymmetric risk/reward in that....then maybe "value" (lol) stocks that pay you to own them is more up your alley. I mean the market is backed up by uncle sam now w/ bailouts....(corporate socialism) much more suitable for those with a low risk tolerance.

For me....Bitcoin is the ultimate long-term investment. I won't be trying to catch bottoms, but simply DCAing and continuing to build my position with a time horizon of 10 years+.

IMO the difference between $2k and $6k is noise. Sure you can get more BTC for you buck....but I know my limitations. I don't know where bitcoin will be 1 month from now or a year from now...and anyone who pretends to know is lying. No one knows, and that's what I base my actions on (aka DCA).


RE: The Bitcoin Thread (price and other bitcoin related topics) - Contrarian Expatriate - 04-04-2020

(04-03-2020, 11:35 PM)Nolimitz Wrote: @Contrarian

In regards to governments banning bitcoin....here's an article that will help you see why that is not likely.

https://unchained-capital.com/blog/bitcoin-cannot-be-banned/

Simple game theory played out between competing nations. As far as governments creating their own cryptocurrencies. Digital currencies are likely, but to call them cryptocurrencies is an oxymoron.

As far as "Bitcoin is the myspace" of crypto. I disagree. As JJ mentioned above Bitcoin is a protocol with a set of very unique characteristics....one of those being that it's creator is anonymous and there is no central point of failure (others cryptos do not have this important trait).

A similar example is email....a protocol for communicating on the internet. Sure, new protocols could be created....but I highly doubt the world is going to stop using email for the purpose of a few technical improvements. The network is here....everyone uses email, and therein lies the value of a protocol.

Same with bitcoin....it has the largest network effect of all "Cryptos".

"But facebook vs myspace....the value in those is derived from network effects as well."

The difference between social media and a protocol like email or bitcoin is vast.

In summary,

-Bitcoin cannot be banned....governments may try, but they will be shooting themselves in the foot as simple game theory plays out.
-BTC vs other newer technologies is not the same as myspace vs facebook....it is a protocol not social media or a company.
-Lindy effect is true for BTC imo...just look at hash rate/active wallets/marketcap since inception....each day that passes the chances of BTC succeeding increase.

ESPECIALLY taking into account the actions of world central banks and governments. They can try to keep inflating/QEing their way out of the debt bubble, but at some point there will be a day of reckoning.

"But why wouldn't they just return to the gold standard."

Please.

Again, it's not hard to see the value prop of BTC. It's either massively successful and potentially achieves its destiny as a reserve currency or it flops.

If a person can't see the asymmetric risk/reward in that....then maybe "value" (lol) stocks that pay you to own them is more up your alley. I mean the market is backed up by uncle sam now w/ bailouts....(corporate socialism) much more suitable for those with a low risk tolerance.

For me....Bitcoin is the ultimate long-term investment. I won't be trying to catch bottoms, but simply DCAing and continuing to build my position with a time horizon of 10 years+.

IMO the difference between $2k and $6k is noise. Sure you can get more BTC for you buck....but I know my limitations. I don't know where bitcoin will be 1 month from now or a year from now...and anyone who pretends to know is lying. No one knows, and that's what I base my actions on (aka DCA).
I think you misunderstood my point.  I did not intimate that governments will "ban" Bitcoin; I am not even sure that would be possible.  What I mentioned is taking actions against those required to report holding it and against those not paying capital gains taxes on it.  So it is the enforcement actions against Bitcoin holders that would be its most likely demise.

The blueprint already exists for such actions in the law called FATCA.  I suggest you read up on FATCA which now only applies to foreign assets Americans own.  Once FATCA is extended to include crypto-currencies, you will see flight away from Bitcoin to government backed digital currencies.   Why, because people will not want to get prosecuted and their Bitcoin seized for not filing holding reports or taxes.  I hope that is more clear.

I also disagree that the difference between 2000 and 6000 is noise as you term it.  If Bitcoin were ever to rise to 50k or 100K, the difference between holding 1 and 3 would be HUGE.   

I do admire your decision to DCA into Bitcoin; that is not a bad strategy.  I just find investments that pay me dividends each month are far preferable to a purely speculative play.


RE: The Bitcoin Thread (price and other bitcoin related topics) - Lampwick - 04-04-2020

Bitmex almost imploding, Tether up to $6.2 billion, Binance buying CoinMarketCap.  Yep, everything perfectly normal.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 04-04-2020

(04-04-2020, 03:25 AM)Lampwick Wrote: Bitmex almost imploding, Tether up to $6.2 billion, Binance buying CoinMarketCap.  Yep, everything perfectly normal.

And?


What is the problem, exactly?

Yes, various business relationships are normal in bitcoin and the broader crypto space.  Sure some aspects may or may not turn out well or implode, but both bitcoin and crypto is a pretty damned wide space with a lot of various activities going on, and some of the business ventures work out or they don't and some of the value will gravitate away or towards certain activities and ventures.

You might need to explain yourself a bit more because I don't really get your point, except to be showing that you really are having difficulties understanding bitcoin or what makes up its fundamentals, not that anyone is going to 100% understand any asset class, but your understanding seems to be quite low, with a decently large size of fear therein.

Look at your advice from a couple of weeks ago.

(03-12-2020, 03:18 AM)Lampwick Wrote: For those still holding this bag, it's not too late to sell.  Others are, and you can see BTC dominance rising, while the overall crypto marketcap is sinking.  This generally means people are selling all crypto, but BTC price is being supported somewhat because people have to buy BTC to get out of alts.  Once BTC dominance gets to 70% and higher, this price support may start to give way.  The failure of a major exchange or counterparty such as Robinhood may act as a catalyst to accelerate this process.

Pretty much telling people to sell at the bottom of a dip, but thereafter, we had a 80% price rise, from the point in which you were proclaiming doom and gloom.  You actually might need to study this space a little bit more in order to attempt to get a better grasp of the various dynamics, and maybe  get some better ideas about how some of these matters might play out, in terms of bitcoin's actual likely role in the process.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 04-04-2020

The below-linked article is suggesting that there continues to be a decent amount of optimism in bitcoinlandia.  Is such optimism deserved, or rational, or not?

https://cryptobriefing.com/bitcoin-bulls-continue-hodl-optimism-returns/


Two graphs below show the extent to which long term BTC supply (2 years or more) is not moving as compared to how much of the short term BTC supply is moving (30 days or less).


[Image: FG9V4naGAzl3PcZFecZeT3bpYaRemfwIH8zgugAa...qmA9c5ec27]

[Image: 3STugTwqgGvyYvKqle-zpAQzpiIfkuSApAeDKdIt...NdQ7H2reOm]


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 04-04-2020

Here's a neat way of PlanB describing the current BTC situation, too.

https://twitter.com/100trillionUSD/status/1246468536802914305

Quote:

>>>>>>
"So #btc  [Image: Bitcoin_2020.png]has been oscillating around S2F value of $7000 for 2.5 years now. Just like before 2016 halving ($300) and before 2012 halving ($6). Excited to see if we are going to add another zero after the halving in May"
<<<<


[Image: EUxV1TOWsAEaDZh?format=png&name=small]


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 04-04-2020

Here's a link to an article describing a class action lawsuit purportedly against 11 different entities (companies) in the bitcoin space including:  Binance, BitMEX, Tron, Block One, accusing them of violating SEC laws in their participation in the sale of unregistered securities to USA customers.  

I am not sure if this law suit will affect bitcoin short-term prices either negatively or positively, specifically, and surely it could take a bit of time to see how the lawsuit plays out in terms of any impact that it might have on the trading of some shitcoins on some exchanges, also, since it appears to be quite early in the process.

https://decrypt.co/24532/class-action-lawsuits-filed-against-7-bitcoin-companies

Quote from the article:

>>>>>
"The lawsuits also targeted KuCoin, Quantstamp, Bibox, KayDex, Status, BProtocol, and Civic along with  key leaders, including names like Brendan Blumer, Dan Larimer, Vinny Lingham, and Binance founder Changpeng Zhao, better known as "CZ."

The lawsuits claim that the tokens fail the Howey Test, a check for determining whether an asset is a security under US federal law. One of the key tenets of the test is that an investment contract exists when there is the investment of money in a common enterprise with a reasonable expectation of profits to be derived from the efforts of others. The plaintiffs assert that those pushing the tokens were involved in a common enterprise and made it clear there was an expectation of future gain."
<<<<<<


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 04-04-2020

Below is a link to a fairly recently uploaded 90-minute YouTube video presentation of Andreas Antonopolis (from August 28, 2019) going over quite a few basic bitcoin ideas, including how basic transactions work and what bitcoin is, and it is even good for people who already have good ideas about bitcoin.  The in-person audience of this presentation was for a Certified Bitcoin Professional Exam course (CBP).


https://www.youtube.com/watch?v=FYo5E7zT-vM


Here's a description quote:

>>>
" You'll learn about:
- The history of money, bitcoin, and how the price of bitcoin is derived.
- Bitcoin Basics, including addresses and keys, transactions, the blockchain, bitcoin as a unit (e.g. millibit, satoshi), ways to earn, buy, sell, and store bitcoin, blockchain explorers and Unspent Transaction Outputs (UTXO).
- Bitcoin commerce, including how to accept bitcoin for products and services.

This presentation was delivered on Wednesday, August 28th 2019 at the BTC2019 Conference in Denver organized by the Crypto Currency Certification Consortium (C4)"

<<<<

There are some additional basic YouTube videos described in the comments section, too.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 04-05-2020

(04-04-2020, 02:30 AM)Contrarian Expatriate Wrote:
(04-03-2020, 11:35 PM)Nolimitz Wrote: [edited out]
I think you misunderstood my point.  I did not intimate that governments will "ban" Bitcoin; I am not even sure that would be possible. 

Hm? At least you concede the point that governments are not necessarily omni-potent in regards to bitcoin. Progress? Perhaps?

(04-04-2020, 02:30 AM)Contrarian Expatriate Wrote: What I mentioned is taking actions against those required to report holding it and against those not paying capital gains taxes on it.  So it is the enforcement actions against Bitcoin holders that would be its most likely demise.

I suppose that there is a little bit of a point that some things are made more burdensome because of either regulatory overreach or the extent of loop holes that people have to jump through.

Some jurisdictions are more friendly to bitcoin than others, which is likely going to cause some regulatory arbitrage, too, which has already been mentioned in terms of either bitcoin moving or bitcoin users moving to other jurisdictions where the impositions are less burdensome. Could cause some difficulties for innovation and leadership of some countries if some money and people are leaving your jurisdiction because they are trying to avoid some of those regulatory burdens... which may therefore cause some governments to be less burdensome.. Surely it is not a black and white situation, and also government officials are people too, if you did not know, so sometimes they will be thinking of themselves and the possible burdens of their constituents, too.

(04-04-2020, 02:30 AM)Contrarian Expatriate Wrote: The blueprint already exists for such actions in the law called FATCA.  I suggest you read up on FATCA which now only applies to foreign assets Americans own.  Once FATCA is extended to include crypto-currencies, you will see flight away from Bitcoin to government backed digital currencies.   Why, because people will not want to get prosecuted and their Bitcoin seized for not filing holding reports or taxes.  I hope that is more clear.

Americans do tend to have some heavier burdens than other citizens, and so there can be some fair points about that, but bitcoin is not just in America, and actually has the potential to benefit people in other jurisdictions too. Last I checked bitcoin has a variety of systems in place that allow it to keep building all over the world, and sure there seem to be some ease of use when people have access to the internet, but there are also ongoing systems in place that allow bitcoin transactions to be transacted by other means, but surely the internet does seem to be the backbone of what makes bitcoin more powerful and national boundary neutral.

I suppose that you could conjecture that bitcoin is going to $2k because of the potential regulatory burdens, or you might just consider that bitcoin might still plow forward and upwards in price in spite of potentially regulatory burdens. You can choose your level of allocation, and you can focus on potential costs and negatives without weighing the various upsides, and then you might assess its fair market value at $2k, and miss out on buying opportunities that never come to you.

Whether we ever reach $3,850 again will likely be witnessed in the upcoming 6 months or less if it is ever going to come. I would think. Sure, macromarkets could draw bitcoin down a lot more, while everything is getting drawn down more, but that is not necessarily a bitcoin only problem, and I am not sure if there are any assets that are really exempt from the toils, turmoils and uncertainties of the current times, including how the fuck long it is going to take to either reach the peak of the deaths/hospitalizations caused by the virus and the degree to which any systems or locations are going to continue to operate or start back up. So yeah, you can pick some of your investments based on which industries will be less negatively affected or able to start up and recover better, and seemingly bitcoin would be within the assets/investments that has relatively better chances in the current projected scenarios....

On a personal level, I am not going to hold back and wait for either breaking below $3.85k or $2k, but hey, maybe it could happen, we are surely in some kind of outrageously strange macro-economic times.

(04-04-2020, 02:30 AM)Contrarian Expatriate Wrote: I also disagree that the difference between 2000 and 6000 is noise as you term it.  If Bitcoin were ever to rise to 50k or 100K, the difference between holding 1 and 3 would be HUGE.   

The difference between 0 and 1 or 3 is huge too, so waiting for a certain price remains a kind of gambling habit.

I suppose that there are all kinds ways for guys to be fence sitters, and fail/refuse to take action, and I suppose that is part of Nolimitz's point.

During the whole of 2014, while I was buying, I kept complaining that the price kept going down.. so yeah, in the end, I could have picked up way the fuck more coins to wait and buy at $200-ish towards the bottom in January 2015 and even another bottom similar to that in late August 2015. So sometimes if I had bought some at $750 or at $600, and then the BTC price would drop, people would suggest that I should sell and buy back lower, and others would say that it will not really make a BIG difference if I buy at the higher prices and I might end up missing out if I wait for lower prices that never come.

Hindsight is 20/20, but fuck that bullshit. You cannot fucking know if the price is going up or going down, and if you have confidence in the underlying investment, you are just better off maintaining investing, and sure if you can buy on dips, maybe you save 5% or 20% if it dips, but it seems fucking ass futile to be whining that I could have had 3 rather than 1 or some bullshit like that, when you could have had zero too because you get too god damned greedy.

I know about a bunch of bitter fucktards who fail/refuse to act, and think they know better, and sell when the price is going down because they are planning to buy lower, and then the price never goes lower or even close to the price in which they are waiting, so staying on zero, or asserting that you are in a better place because someone else has higher costs per BTC than you, seems to be short-sighted gambling that might put you at zero rather than just getting some stake in the game.

So, I still agree with how I continued to buy throughout 2014 and had an average BTC price of about $550 at the end of 2014 instead of waiting and getting 2.5x more BTC by waiting for $200 or whatever price that hypothetically I could have got. One problem with waiting, is that you never know the bottom, and even when prices were dipping to such low extremes, there were a lot of people waiting for double digit prices.. so the waiting story just seems too damned costly, from my humble bumble, experiential-ladened perspective.


(04-04-2020, 02:30 AM)Contrarian Expatriate Wrote: I do admire your decision to DCA into Bitcoin; that is not a bad strategy.  I just find investments that pay me dividends each month are far preferable to a purely speculative play.

Of course, I have discussed this on several occasions, and seems to me that a lot of people get scammed by trying to figure out ways to "earn passive" income and "dividends" bullshit. fuck that shit. The most solid ways to ensure and assure that you have passive income is to build a decently large size principle. Yeah, sure you might figure out ways to get some income along the way and to spend it and to NOT reinvest it and to consume it, but you are way the fuck better off if you have enough principle built up that you don't give any shits about your abilities to continue to withdraw income from it.

Sure there are some assets in which you can invest, and get paid too, but seems like gambling to get maniacally focused on dividends and then getting screwed by either being in inferior investments or experiencing too much third party risk by having to turn your assets over to someone else who is supposedly going to pay you on a regular basis, then they end up running off with your asset or otherwise encumbering your ability to get access to your own asset.

I am not totally opposed to earning income off off assets or even having some assets tied up with third parties for the purpose of earning income, and I will admit that I do have some assets that are encumbered in that way, but having some assets invested in that way does not rule out a BTC investment thesis of 1% to 10% or even some amount beyond that, including continuing to DCA into BTC either to establish an initial investment allocation or to continue to maintain your bitcoin investment at a level that is of your choosing. At some point, you might start withdrawing your bitcoin or cashing out periodically, and surely having a longer investment timeline of 5-10 years or more can be quite healthy, too before maybe the withdrawing would start, and of course, you could withdraw sooner if there is some kind of boom and you had started out with a higher allocation right from the start of investing into BTC.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 04-05-2020

Here's another tweet of a comparison discussion of stocks, gold and bitcoin, and also a comparison chart.

https://twitter.com/woonomic/status/1246634371534041088

[Image: EUztbwMUYAAVKf5?format=jpg&name=small]


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 04-05-2020

Here's an article that comes off as describing bitcoin about 5x more bullish than previously most bullish scenarios, and accordingly is suggesting that the money printing response may well cause gold to 3x in market cap and bitcoin to reach $1million, which is actually nearly 150x from our current price.

Part of the argument is that changed circumstances have to be taken into account, and I suppose that anything is possible, even tough previous exponential growth periods have been growing smaller and smaller... the 2013 exponential growth was a bit more than 100x, and the 2015 to 2017 exponential growth was about 78x, so I would have been considering any exponential growth of this period (if it happens) to end up smaller in amount than the previous exponential growth period.

(BTC) Price to Target $1,000,000 After COVID-19 and Analyst Explains Why



Sure part of the underlying premise of the article is that bitcoin is similar to gold, but more likely bitcoin is superior to gold, even though it is quite likely to take several price cycles of even exponential growth to accomplish such market cap parity, and even for bitcoin to surpass gold in market cap.

In other worlds, I would take that article with a considerable grain of salt, even if we do live in quite trying and uncertain times, currently.... causing a lot of crazy-ass scenarios to become more possible and plausible.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 04-05-2020

Below is a tweet from PlanB aimed at bitcoin newbies, but of course, such resources could be helpful to anyone interested in bitcoin.


https://twitter.com/100trillionUSD/status/1246393180762845186?s=20

Quote:

>>>>
"Advice for #bitcoin[Image: Bitcoin_2020.png]newbies

1) read Whitepaper
https://nakamotoinstitute.org/static/docs/bitcoin.pdf
2) read Bullish Case for Bitcoin
https://nakamotoinstitute.org/mempool/the-bullish-case-for-bitcoin/
3) read BitGold
https://nakamotoinstitute.org/bit-gold/
4) read about Social Scalability
https://nakamotoinstitute.org/money-blockchains-and-social-scalability/
5) follow BTC top100 on twitter
https://hive.one/bitcoin/"
<<<<<<<<


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 04-06-2020

Here's a cute image of the future.. 

[Image: Dff4SGcUcAE1UVn.jpg]

https://btcartgallery.com/2018/06/12/fiat-dinosaur-skeletons-via-http-art-krug-com/


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 04-07-2020

Ongoing bullish sentiment in bitcoin.

Not sure how long it will last, though.

https://www.coindesk.com/bitcoin-bulls-trillions-coronavirus-aid

Could be a little bit of short term correlation with the stock markets, perhaps?


Keep in mind:

Quote: 

>>>>
"Nic Carter, a partner at Castle Island Ventures and co-founder of the blockchain analytics startup CoinMetrics, wrote last week for CoinDesk that the devaluation of money "does not happen immediately, but over time."  <<<<<<<


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 04-07-2020

It's almost like I cannot resist posting about our current calendar year having a sliver of green in the form of a kind of middle of the road doji candle.  Of course, we entered 2020 with slightly under $7,200 prices, so currently, we are only barely holding green status for the calendar year.  We might experience a correction from here, but just in the past few hours, we did get up to $7,465, so at the moment there is a bit of a correction from that but surely some recent upwards price pressures and a pretty upward performance of the day and even the past week is well over 10% up, too....but surely we are not out of uncertainties, especially in the short to medium term, including possibly getting drug down by other macro factors, whether the stock market and the dollar, the virus or even seemingly shitcoin froth, perhaps?  Perhaps?


[Image: EU87ytjUwAAP9RE?format=png&name=small]

https://twitter.com/ChartsBtc/status/1247281669347786752


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 04-07-2020

The below tweet thread from a couple of days ago is discussing the significance of the halvening with some theorizing that the halvening really only reduces the sale pressure of BTC by 30% rather than 50%, since there is a certain amount of BTC that is constantly generated through fees and such that have ongoing daily sell pressure.


https://twitter.com/woonomic/status/1246990682775932929?s=20


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 04-07-2020

Here's a link to an article from yesterday that describes some recent reports and looking at bitcoin's stock to flow price prediction model:

https://cryptoslate.com/model-that-predicts-1300-bitcoin-price-rally-after-halving-fortified-by-new-report/

 
[Image: EU1CQAVWkAEGSCl.jpg]


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 04-07-2020

Here's an interesting chart that shows bitcoin, stocks and real estate, and suggests that making this comparison in logarithm more accurately reflects the magnitude and scale of the rise and the drops, and also helps to support a theory that bitcoin's price floor happens to be more solid due to relatively less market saturation as compared with those other assets, which may be true.  Perhaps?  Perhaps?

https://twitter.com/woonomic/status/1247441012332482560?s=21

[Image: EU_FZXbU8AIsKyw?format=jpg&name=small]


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 04-07-2020

Here's a tweet example of some real cognitive dissonance, from our gold bug buddy, Peter Schiff.

https://twitter.com/peterschiff/status/1247313950611582985?s=21
Quote:
>>>>>
"Investors seeking a real safe haven will never buy a speculative asset on the chance that it may eventually become a safe haven. Since anyone doing so is speculating, the only people who will ever buy #Bitcoin [Image: Bitcoin_2020.png]are speculators, which is why Bitcoin will never become a safe haven."
<<<<<<<<


I am citing the peter schiff quote for its level of hilarity, and maybe I am feeling a bit guilty about giving attention to such nonsense.


RE: The Bitcoin Thread (price and other bitcoin related topics) - Contrarian Expatriate - 04-07-2020

Economist Nouriel Roubini is Right About Bitcoin’s Biggest Security Flaw.




I'm sure our "friend" JJG will chime in with a rant of rationalizations and denials but that is par for the course from people hellbent on scamming you into poor financial decisions.

If you want to speculate a small piece of your portfolio with Bitcoin, great.  But pouring your life savings into Bitcoin like JJG recommends is just ridiculous.  In fact, if you had done so at the beginning of the year as he was encouraging, you'd be substantially poorer right now.