SURVEY: Cryptocurrencies -- wave of the future or disaster waiting to happen?

[Sharp]

5 hours ago, J Town said:

Any currency is only worth the agreed upon value from a given society. The interest in crypto is how no government has declared ownership. It's a rogue currency and a growing number of people like that.

Decentralised! 

[Sharp]

1 hour ago, bkk6060 said:

Now is the time to get in.  When you can now buy a Tesla and once it goes more mainstream, it has unlimited potential.  There are now only a limited supply of Bitcoin people need to read up on it and understand it. And, you do not have to buy a whole coin for investment.

I own one coin and am hanging onto it for long term. I predict $500,000 USD for one coin by 2030. Some professional analysts are predicting much higher.

Agreed!! Fiat currency lost its real value of being backed up by gold years ago its going digital /crypto know doubt and Bitcoin is ahead of the new currency normal approaching IMHO 

[Mr Meeseeks]

1 hour ago, OneMoreFarang said:

Did you have those seven figures now in real money? Or is it the current value of your Bitcoins? Because if it is the current value of your Bitcoins then maybe in a week you have only 6 figures left and maybe it will go down from there. Is it likely? I don't know. Is it possible? Sure.

 

I have taken my initial investment out into THB so I am completely risk-free. 

 

Bitcoin just hit a new all time high of $50.3k moments ago. 

 

If it wasn't real it would not be of interest to Grayscale, Microstrategy, Tesla etc.

[worgeordie]

Any astute investor buy One Coin ? ????, the crazy thing is

people are still buying them, according to a documentary

regards Worgeordie

[Surelynot]

2 minutes ago, worgeordie said:

the crazy thing is

people are still buying them,

Not so crazy if they double in price.....where else would get a return like that?

[Mr Meeseeks]

1 hour ago, OneMoreFarang said:

So obviously you are not a professional analyst, correct?

I know personally a fund manager and a top banker and a hedge fund manager. They don't touch any cryptocurrency - at least not with their own money. 

Now who should I trust? ???? 

I wouldn't trust hedge fund managers, bankers or financial advisors.

 

But they still keep calling me selling their services even though I have told them to f off several times. ????

[Peter Denis]

31 minutes ago, donnacha said:

...

You seem to be suggesting that the "Huge Opportunity" for Bitcoin over the next year is invalid because "logic and reason do not seem to apply anymore in our world", but each of the people who cash out at 200k+ at the end of this year, or far more at the end of 2022, will spend their profits to make their own worlds safer, freer, and more fun. There are people who will life better lives because they caught what, in retrospect, everyone will see as an important financial and technological wave, but which you are currently only able to perceive as a crazy aberration to the proper order.

True change always provokes this response. Some of the same idiots who were smugly predicting the imminent collapse of the "Bitcoin ponzi scheme" back in March, when I was encouraging people to get in at 5k, are here again today, repeating the same misconceptions with the same smug certainty. Hilarious.

No, I was NOT suggesting that the Huge Opportunity for Bitcoin over the next year is invalid.

On the contrary, I was stating that I believe Bitcoin will indeed keep on rising, and this because - in my thinking - "logic and reason do not seem to apply anymore in our world".

Obviously there are factors at play now that benefit Bitcoin, but my provocative statement refers to the fact that the underlying value of Bitcoin is moot.  Bitcoin is NOT based on legally enforceable obligation of the borrowers, but is created out of 'thin air', and the Bitcoin price is driven solely by supply and demand for the coin - hence the need for the continual influx of new fiat-money to fuel it.  In my world that's not logical, but I am not blind and it does not seem to hinder people stepping into it, so I do agree with you that there are huge gains to be made when 'investing' in Bitcoin.

 

[Mr Meeseeks]

Bitcoin new all time high $50.6k right now!

 

The path is clear to $60k and beyond.

 

Send it!

[Surelynot]

1 hour ago, OneMoreFarang said:

I know personally a fund manager and a top banker and a hedge fund manager. They don't touch any cryptocurrency - at least not with their own money. 

Bet they are feeling pretty sick at the minute......555

[Sharp]

News like this what makes it relevant and the big difference from years ago 

[Mr Meeseeks]

1 minute ago, Surelynot said:

Bet they are feeling pretty sick at the minute......555

Of course because they are clueless and most of them dishonest.

 

Bitcoin fixes this and removes the need to trust the banks, financial advisers, hedge funds (look at what happened to hedge funds last month when they lost billions on shorting Gamestop) and all the other charlatans. 

 

Code is law. 

[worgeordie]

3 minutes ago, Surelynot said:

Not so crazy if they double in price.....where else would get a return like that?

The whole thing was a scam, worth nothing, Google One Coin.

regrds worgeordie

[Mr Meeseeks]

1 minute ago, worgeordie said:

The whole thing was a scam, worth nothing, Google One Coin.

regrds worgeordie

Does not have anything to do with Bitcoin though. 

[Surelynot]

Just now, worgeordie said:

The whole thing was a scam, worth nothing, Google One Coin.

regrds worgeordie

Most things are only 'worth' what people are prepared to pay for them........somethings have intrinsic value.....antibiotics?.....most other things...just smoke and mirrors......it is all in the timing....I bought bitcoin years ago sold  enough to cover my initial outlay and now I am gambling with house's money....so if it all crashes...what the hell.

[Pravda]

4 hours ago, Mr Meeseeks said:

US Dollar -

Inflationary (25% of total supply printed in the last 12 months)

Backed by nothing but Govt. promises and debt

Controlled by a centralized authority (in this case the US Govt. and you really trust them?)

Can be seized / frozen by authorities at any time

Doesn't really belong to you unless it is in your pocket or possession (and you can't carry that much of it around all the time so you have to trust banks)

Need banks or third party to transfer over distance

Used by criminals because its fairly untraceable

Can be stolen easily (physical robbery, theft, etc.)

 

Bitcoin - 

Capped supply of 21 million (there will never be more)

Backed by the biggest network in the World (the internet of money)

Not controlled by anyone

You directly own and are responsible for your own funds (no need to trust a third party)

Extremely hard to steal from someone

No banks or third parties required

Can be used as a totally secure store of value

Can send almost instantly to anyone anywhere in the World without the need for a third party

Trust-less (no need to trust anyone else)

Network can never be taken offline, hacked or stopped

Pseudonymous (similar to an IP address)

All transactions are recorded on an immutable ledger (no good for criminals)

 

It's a no brainer and the future of money. 

 

 

 

I never understood this limited supply argument. It's very unlimited as bitcoin can be satoshed, forked and lose value as new crypto becomes available. 

 

This often reminds me of a post apocalyptic game fallout where you go around collect bottlecaps which is a main currency exchange. But even bottlecaps would have more value as they are truly limited in supply. 

 

I congratulate anyone who made money and I'm jealous, but I simply don't believe in it and will never buy it. However, I'm ready to gamble on few of them. 

[bkk6060]

53 minutes ago, Dagfinnur Traustason said:

That´s an amazing prediction! ????????????

Ha.  Yes, who knows.  

But, the more I read makes me very curious.

Tesla is in for purchases of vehicles with Bitcoin. And it actually invested 1.5 billion in Bitcoin. 

Tesla has announced that it is bought $1.5 billion in bitcoin and would start accepting the cryptocurrency as payment, according to an SEC filing Monday.

 

I have read Apple or Amazon may be next.

So, like I mentioned if and when it goes more mainstream the sky could be the limit.

 

Either way if it goes to zero it will not affect my portfolio what so ever.

Kind of a fun watch at this point, we will see.

 

[Mr Meeseeks]

1 hour ago, OneMoreFarang said:

So obviously you are not a professional analyst, correct?

I know personally a fund manager and a top banker and a hedge fund manager. They don't touch any cryptocurrency - at least not with their own money. 

Now who should I trust? ???? 

 

Trust is an important point that cannot be overstated especially since 2008 when the banks effectively stole billions and were never held to account, yet the taxpayer bailed them all out.

 

Yet people still trust banks and the fiat economy despite all the evidence to the contrary and that they are definitely not trustworthy. 

 

Bitcoin is trustless meaning you don't need to trust a bank or the government (look what has happened in Venezuala and Argentina when they ordered the banks to close to stop a run and people withdrawing all their funds).

 

You own your keys you own your Bitcoin.

 

Code is law. 

[Mr Meeseeks]

[Mr Meeseeks]

4 minutes ago, bkk6060 said:

Ha.  Yes, who knows.  

But, the more I read makes me very curious.

Tesla is in for purchases of vehicles with Bitcoin. And it actually invested 1.5 billion in Bitcoin. 

Tesla has announced that it is bought $1.5 billion in bitcoin and would start accepting the cryptocurrency as payment, according to an SEC filing Monday.

 

I have read Apple or Amazon may be next.

So, like I mentioned if and when it goes more mainstream the sky could be the limit.

 

Either way if it goes to zero it will not affect my portfolio what so ever.

Kind of a fun watch at this point, we will see.

 

Microstrategy are borrowing another $600m to buy more Bitcoin. 

[John Drake]

6 hours ago, J Town said:

Any currency is only worth the agreed upon value from a given society. The interest in crypto is how no government has declared ownership. It's a rogue currency and a growing number of people like that.

 

It's money laundering by criminals.

[Mr Meeseeks]

7 minutes ago, Pravda said:

I never understood this limited supply argument. It's very unlimited as bitcoin can be satoshed, forked and lose value as new crypto becomes available. 

Forks will never be as valuable as the original as they don't have the network and community support of the original, look at Bitcoin Cash and the Faketoshi scamcoin Bitcoin SV for proof of that.

 

There will always be a value to Bitcoin even as other platforms emerge such as Ethereum and Polkadot. 

 

There are more cryptos now than ever, and guess what? Bitcoin all time high in USD today. 

[bkk6060]

2 hours ago, OneMoreFarang said:

I know personally a fund manager and a top banker and a hedge fund manager. They don't touch any cryptocurrency - at least not with their own money. 

Now who should I trust? ????

Good for you knowing one banker and a hedge fund manager. ????

There are many more out there that recommend it and are now making it a small part of their portfolios.

 

Blackrock is the worlds largest asset management company:

BlackRock is set to dip its considerably massive toes into the world of cryptoassets, according to public filings and reports by a number of outlets.

The gargantuan money manager headed by Larry Fink has filed to offer its clients exposure to bitcoin futures BTC.1, 4.64% through funds, BlackRock Strategic Income Opportunities BSIIX,

 

If Blackrock thought it was some scam or bogus I doubt they would make this commitment.

 

Who should you trust?  Not me, I am just some know nothing on TVF.

But, do your research and education and of course my recommendation from there would be: trust your judgement and yourself.

[Mr Meeseeks]

2 minutes ago, John Drake said:

 

It's money laundering by criminals.

The big financial institutions are the biggest criminals and money launderers of all. Mostly done through offshore accounts in jurisdictions loosely under the UK financial umbrella; Jersey, Isle of Man, Caribbean and other places. These offshore havens account for about 50% of illicit money flow from developing countries as their governments systematically steal wealth and transfer it overseas where it cannot be repatriated. 

 

The British Empire lives on with London as its financial capital. 

 

No armies needed, well sometimes as if the fuzzy wuzzies get out of hand we can still send in the Marines or the Paras to sort them out.

[runamok27]

For the time being Bitcoin and other cryptocurrencies are good investments but does anybody think the power elite are going to allow it to go anywhere without them in control? Which is why I predict it will be allowed to go on for a while longer and a lot of people are going to make money but in the end, it will go to zero someday and something the power elite can control will take its place and the suckers who didn't get out will lose everything. Cryptocurrencies are fairly simple to create. 

 

Will hang on for now but will be watching carefully for the power elite stepping in and destroying Bitcoin. It's coming, it's just a matter of time. Bitcoin will not be allowed to go mainstream.

[Dagfinnur Traustason]

17 minutes ago, bkk6060 said:

Ha.  Yes, who knows.  

But, the more I read makes me very curious.

Tesla is in for purchases of vehicles with Bitcoin. And it actually invested 1.5 billion in Bitcoin. 

Tesla has announced that it is bought $1.5 billion in bitcoin and would start accepting the cryptocurrency as payment, according to an SEC filing Monday.

 

I have read Apple or Amazon may be next.

So, like I mentioned if and when it goes more mainstream the sky could be the limit.

 

Either way if it goes to zero it will not affect my portfolio what so ever.

Kind of a fun watch at this point, we will see.

 

Can just wish you good luck. ????
I am also a believer that bitcoin will go over 100k, but I do not reach for 500k. But, it´s ok to set high goals when you are not depending on it as well as you probably going to be all stoked to get 250k. ????

[jackspade]

You should do a new poll:

SURVEY: US DOLLAR -- wave of the future or disaster waiting to happen?

Edited February 17, 2021 by jackspade

[Misty]

3 hours ago, donnacha said:

Next month? About 20% less than today.

Next year? About 80% less than today.

Odd question.
 

 

Point simply being that there's no price stability.  Impossible to use as currency with that type of expected deflation.

[Misty]

3 hours ago, Mr Meeseeks said:

A lot less if I hold Bitcoin over the equivalent USD or THB.

 

Exactly why it can never be a currency.

[John Drake]

5 hours ago, Surelynot said:

Isn't that true of (almost) every investment vehicle?

 

It's certainly true of a ponzi scheme.

[Mr Meeseeks]

https://www.swanbitcoin.com/why-bitcoin-is-not-a-ponzi-scheme-point-by-point/