Sparktrader Posted November 11, 2022 Share Posted November 11, 2022 Argentine Peso is a currency. It isnt going too well. Link to comment Share on other sites More sharing options...
allanos Posted November 11, 2022 Share Posted November 11, 2022 The majority of bitcoin holders are invested for the long term, believing in its characteristics and fundamentals. Unrealised losses or gains are notional, being on paper only. You only lose (or gain) once a transaction has been completed. Price gyrations are caused by speculators (gamblers). In the recent drop in prices owing to the FTX debacle, leveraged shorts will have cashed in. Leveraged longs will have lost their shirts. We will see a reversal of this process soon. If you do not understand btc, which seems to be the case with most of the posters on this forum, and if you are not a trader/speculator, then stay away from it, it is not for you! There is no safe haven. Property prices are flat to falling. Stock markets are down. Fiat (USD), subject to high inflation, is losing purchasing power of at least 10% per annum. Gold is at the same price it was ten years ago and has no coupon anyway. Bitcoin blockchain is transparent, decentralised, and confiscation-proof, with minimal inflation built in. In the lead-up to the next halving event, price will start to gain traction once more. The downside is limited and man- ageable, the upside is infinite. Hold on for the ride! Link to comment Share on other sites More sharing options...
Sparktrader Posted November 11, 2022 Share Posted November 11, 2022 1 minute ago, placeholder said: Really? The same thing? So there's the equivalent of Federal Deposit Insurance for crypto? And you think the ration of banks that failed to those that don't is the same as the ratio of exchanges that have failed to those that haven't? I think people should research exchanges before opening an account. Credible exchanges make money. Link to comment Share on other sites More sharing options...
placeholder Posted November 11, 2022 Share Posted November 11, 2022 (edited) 8 minutes ago, Sparktrader said: Kip is a currency. Is it a real one? First off, it's telling that you set a low standard by choosing kip. Second the value of kip per dollar may be offset by the increasing number of kips held by people. For that reason, devaluation is not necessarily the same as a crash in the price of crypto.. And I'm pretty sure in Laos things are priced in kips. Is there any country where goods and services are routinely priced in crypto? Edited November 11, 2022 by placeholder Link to comment Share on other sites More sharing options...
placeholder Posted November 11, 2022 Share Posted November 11, 2022 21 hours ago, Sparktrader said: Blockchain increases trust, security, transparency, and the traceability of data shared across a business network — and delivers cost savings with new efficiencies https://www.ibm.com/au-en/topics/benefits-of-blockchain Benefits of smart contractsOnce a condition is met, the contract is executed immediately. Because smart contracts are digital and automated, there's no paperwork to process and no time spent reconciling errors that often result from manually filling in documents. https://www.ibm.com/au-en/topics/smart-contracts What relevance does the use of blockchain in a business network have to do with the use of it in cryptocurrency? Link to comment Share on other sites More sharing options...
Sparktrader Posted November 11, 2022 Share Posted November 11, 2022 Just now, placeholder said: First off, it's telling that you set a low standard by choosing kip. Second the value of kip per dollar may be offset by the increasing number of kips held by people. For that reason, devaluation is not necessarily the same as a crash in prices. And I'm pretty sure in Laos things are priced in kips. Is there any country where goods and services are routinely priced in crypto? Countries that allow btc. On a 5 year basis ie medium term btc and eth have done fine. Better than many shares. Fiat over 5 years is down 15 to 25%. Link to comment Share on other sites More sharing options...
Sparktrader Posted November 11, 2022 Share Posted November 11, 2022 1 minute ago, placeholder said: What relevance does the use of blockchain in a business network have to do with the use of it in cryptocurrency? Crypto coins use it. Link to comment Share on other sites More sharing options...
placeholder Posted November 11, 2022 Share Posted November 11, 2022 Just now, Sparktrader said: Countries that allow btc. On a 5 year basis ie medium term btc and eth have done fine. Better than many shares. Fiat over 5 years is down 15 to 25%. Once again you misunderstand the difference between a currency and crypto. Just because the value of a currency declines over 5 years that doesn't mean that the possessor of it is poorer. That demands on how much of that currency they hold. 100 years ago a dollar had far greater purchasing power than it does today. Does that mean that people in the USA are poorer than they were 100 years ago? Link to comment Share on other sites More sharing options...
placeholder Posted November 11, 2022 Share Posted November 11, 2022 2 minutes ago, Sparktrader said: Crypto coins use it. But the reliability of blockchain in a business network has no bearing on the reliability of crypto as an investment or the trustworthiness of crytpo exchanges. Link to comment Share on other sites More sharing options...
Sparktrader Posted November 11, 2022 Share Posted November 11, 2022 4 minutes ago, placeholder said: Once again you misunderstand the difference between a currency and crypto. Just because the value of a currency declines over 5 years that doesn't mean that the possessor of it is poorer. That demands on how much of that currency they hold. 100 years ago a dollar had far greater purchasing power than it does today. Does that mean that people in the USA are poorer than they were 100 years ago? Oranges and lemons. The people are richer due to shares, technology and property not fiat. Link to comment Share on other sites More sharing options...
Sparktrader Posted November 11, 2022 Share Posted November 11, 2022 4 minutes ago, placeholder said: But the reliability of blockchain in a business network has no bearing on the reliability of crypto as an investment or the trustworthiness of crytpo exchanges. You are such a negative person. Link to comment Share on other sites More sharing options...
placeholder Posted November 11, 2022 Share Posted November 11, 2022 3 minutes ago, Sparktrader said: Oranges and lemons. The people are richer due to shares, technology and property not fiat. Reallly. You think Americans today are richer than they were 100 years ago because they hold shares, etc? It's mostly because the total amount of dollars they earn can buy them a lot more than what they earned 100 years ago. Link to comment Share on other sites More sharing options...
placeholder Posted November 11, 2022 Share Posted November 11, 2022 4 minutes ago, Sparktrader said: You are such a negative person. And people who have nothing germane to answer with often decide to make it personal instead. Link to comment Share on other sites More sharing options...
Sparktrader Posted November 11, 2022 Share Posted November 11, 2022 Just now, placeholder said: Reallly. You think Americans today are richer than they were 100 years ago because they hold shares, etc? It's mostly because the total amount of dollars they earn can buy them a lot more than what they earned 100 years ago. Wrong. They are richer due to property and shares that grow. Buying more junk with a higher wage doesnt make you richer and after inflation the wages wouldnt be much higher. Link to comment Share on other sites More sharing options...
Sparktrader Posted November 11, 2022 Share Posted November 11, 2022 1 minute ago, placeholder said: And people who have nothing germane to answer with often decide to make it personal instead. You are 90% negative. Say something positive. Link to comment Share on other sites More sharing options...
placeholder Posted November 11, 2022 Share Posted November 11, 2022 2 minutes ago, Sparktrader said: Wrong. They are richer due to property and shares that grow. Buying more junk with a higher wage doesnt make you richer and after inflation the wages wouldnt be much higher. You're referring to investments and I'm referring to standard of living. Most Americans spend most of their money. Most Americans enjoy a higher standard of living than they did 100 years ago despite the fact that the purchasing power of the individual dollar declined. Dollars are not analogous to shares. Link to comment Share on other sites More sharing options...
placeholder Posted November 11, 2022 Share Posted November 11, 2022 4 minutes ago, Sparktrader said: You are 90% negative. Say something positive. It's a lovely sunny day. 1 Link to comment Share on other sites More sharing options...
Sparktrader Posted November 11, 2022 Share Posted November 11, 2022 https://www.pewresearch.org/fact-tank/2018/08/07/for-most-us-workers-real-wages-have-barely-budged-for-decades/ Wages make people rich hey So much for that theory Link to comment Share on other sites More sharing options...
Sparktrader Posted November 11, 2022 Share Posted November 11, 2022 2 minutes ago, placeholder said: You're referring to investments and I'm referring to standard of living. Most Americans spend most of their money. Most Americans enjoy a higher standard of living than they did 100 years ago despite the fact that the purchasing power of the individual dollar declined. Dollars are not analogous to shares. But you are wrong. https://www.pewresearch.org/fact-tank/2018/08/07/for-most-us-workers-real-wages-have-barely-budged-for-decades/ Link to comment Share on other sites More sharing options...
Sparktrader Posted November 11, 2022 Share Posted November 11, 2022 5 minutes ago, placeholder said: than they did 100 years ago Technology was primitive then. Wages wasnt the issue. Less comforts, less medical care. A poor person in 2022 has a phone, a car or motorbike and 24 hour access to hospitals with drugs. 7/11s etc. Link to comment Share on other sites More sharing options...
pomchop Posted November 11, 2022 Share Posted November 11, 2022 we get it...you think it is a wonderful investment..so buy buy buy and stop wasting time on all of us fools who think it's a giant ponzi scheme......why not just keep it all a big secret and make more $$ for yourself? 1 Link to comment Share on other sites More sharing options...
DumbFalang Posted November 11, 2022 Share Posted November 11, 2022 8 hours ago, Crazy Noobie said: Basically, I make money by Day Trading and then use that profit to buy my long term buys. I'm a day trader too but the problem is the exchanges we use can fold at any time - just like FTX. Their scams are becoming a bit too much and I ask myself daily if it is worth the risk. Link to comment Share on other sites More sharing options...
Crazy Noobie Posted November 11, 2022 Share Posted November 11, 2022 1 minute ago, DumbFalang said: I'm a day trader too but the problem is the exchanges we use can fold at any time - just like FTX. Their scams are becoming a bit too much and I ask myself daily if it is worth the risk. I know what you mean. I myself, I use Coinbase Link to comment Share on other sites More sharing options...
Sparktrader Posted November 11, 2022 Share Posted November 11, 2022 5 minutes ago, pomchop said: we get it...you think it is a wonderful investment..so buy buy buy and stop wasting time on all of us fools who think it's a giant ponzi scheme......why not just keep it all a big secret and make more $$ for yourself? Why post on a topic you have no interest in? Btc isnt a secret. Nobody is forcing you to buy crypto. Fiat is ponzi. Lost 98% in 100 years 555 Link to comment Share on other sites More sharing options...
Mac Mickmanus Posted November 11, 2022 Share Posted November 11, 2022 On 11/10/2022 at 6:08 AM, In Full Agreement said: It's been a while since BTC reached this price and for those who like to buy on dips, this seems like a real opportunity. They will tell you next year if and when the price rises . When the price reaches 30 000 , they will tell you they bought it when it was 15 000 1 Link to comment Share on other sites More sharing options...
DumbFalang Posted November 11, 2022 Share Posted November 11, 2022 Some people consider buying crypto as an investment and others view it as gambling. Same as Forex and the stock market really but without the regulation. The people that control it can do anything they want, whenever they want, for as long as they want. This week they excelled themselves.....and the pantomime is ongoing... Link to comment Share on other sites More sharing options...
Sparktrader Posted November 11, 2022 Share Posted November 11, 2022 2 minutes ago, DumbFalang said: Some people consider buying crypto as an investment and others view it as gambling. Same as Forex and the stock market really but without the regulation. The people that control it can do anything they want, whenever they want, for as long as they want. This week they excelled themselves.....and the pantomime is ongoing... Nobody controls crypto. Market forces. 1 Link to comment Share on other sites More sharing options...
Sparktrader Posted November 11, 2022 Share Posted November 11, 2022 11 minutes ago, Mac Mickmanus said: They will tell you next year if and when the price rises . When the price reaches 30 000 , they will tell you they bought it when it was 15 000 Why do you care if some stranger buys something or not? Link to comment Share on other sites More sharing options...
Mac Mickmanus Posted November 11, 2022 Share Posted November 11, 2022 1 minute ago, Sparktrader said: Nobody controls crypto. Market forces. Is it possible that there are a group of people manipulating the price of Bitcoin ? The hold a large amount of Bitcoin and money and they all begin buying Bitcoin and this causes the price to rise and then many others also begin buying b/c and the price rises even further , then when the price is really high , they begin to sell and the price drops . Rinse and repeat . Would that scenario be possible ? Link to comment Share on other sites More sharing options...
Sparktrader Posted November 11, 2022 Share Posted November 11, 2022 3 minutes ago, Mac Mickmanus said: Is it possible that there are a group of people manipulating the price of Bitcoin ? The hold a large amount of Bitcoin and money and they all begin buying Bitcoin and this causes the price to rise and then many others also begin buying b/c and the price rises even further , then when the price is really high , they begin to sell and the price drops . Rinse and repeat . Would that scenario be possible ? Michael Saylor lost a packet buying btc. He is or was rich. So no it's not manipulated. There is no inner circle. Link to comment Share on other sites More sharing options...
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