It’s the new gold for millennials. A new hedge against reckless fiduciary policy. Except it is much easier to lose (30% is gone forever), easier to steal (almost $4 billion in crypto theft last year), and intrinsically is worthless. Unlike gold, which has tons of real world applications. While it might be worth something today, it could be completely worthless tomorrow.
You need some pretty big air quotes around those numbers. The vast majority of these transactions are wash sales and/or utilize Tether, which is funnier than Monopoly money.
The entire Bitcoin/crypto market is an unregulated sea of wash sales and poor liquidity. I wouldn't recommend anyone play in that game of musical chairs.
It’s the new gold for millennials. A new hedge against reckless fiduciary policy. Except it is much easier to lose (30% is gone forever), easier to steal (almost $4 billion in crypto theft last year), and intrinsically is worthless. Unlike gold, which has tons of real world applications. While it might be worth something today, it could be completely worthless tomorrow.
You need some pretty big air quotes around those numbers. The vast majority of these transactions are wash sales and/or utilize Tether, which is funnier than Monopoly money.
The entire Bitcoin/crypto market is an unregulated sea of wash sales and poor liquidity. I wouldn't recommend anyone play in that game of musical chairs.
Nope.
Those were the prices of bitcoin. Just like any other tradable asset
If you can afford to gamble a little money, put a small percentage on bitcoin. So long as you recognize it's extremely risky. If this is your total retirement plan, you might as well head to Vegas.
This post was edited 1 minute after it was posted.
Reason provided:
grammar
Have I missed the time to buy, or should I jump in? Is it going to $100K this year?
Who can say.
It's definitely volatile.
Trading at $387.89 8 years ago. So up over 100 times in those 8 years.
Peaked (so far) at $64,400 2 years ago.
Has more than doubled YTD
that you and the poster "normal guy who pays attention" both think BTC peaked at $64k tells me the two of you are the same person having a conversation with yourself
Billionaire investor and Berkshire Hathaway Vice Chairman Charlie Munger speaks at the Annual Shareholders Meeting of the Daily Journal Corporation. For acce...
It’s the new gold for millennials. A new hedge against reckless fiduciary policy. Except it is much easier to lose (30% is gone forever), easier to steal (almost $4 billion in crypto theft last year), and intrinsically is worthless. Unlike gold, which has tons of real world applications. While it might be worth something today, it could be completely worthless tomorrow.
Intrinsically worthless like a dollar.
We have a fiat currency
dollar purchasing power decreases over time (time value of money). Dollar is just the medium of exchange backed by law
IMO crypto is just gambling token lottery game targeting middle class to poor people. It’s a predatory financial product run by a couple of insiders manipulating and convincing vulnerable people that if they give them their fiat they’ll some day in future be able to dump their intrinsically worthless crypto sh*ttoken for more fiat than they initially paid for it
if you think the intrinsic value of bitcoin is 100k then go ahead and buy…. personally I think the intrinsic value is zero so I wouldn’t buy and never have
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