Bitcoin

Dominic

Dominic

DA
Staff member
Anyone notice Bitcoin taking off this week? Will Bitcoin be the next gold?
 
Bitcoin and crypto in general relies on America faltering and that's not my game.

Sure, those that invested in bitcoin way back and held are dancing right now, but I'll stick to stocks.
Plenty of juicy companies to trade right now.

Never bet against America long term.
 
nextgenathletics said:
Bitcoin and crypto in general relies on America faltering and that's not my game.

Sure, those that invested in bitcoin way back and held are dancing right now, but I'll stick to stocks.
Plenty of juicy companies to trade right now.

Never bet against America long term.
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Why is Crypto a bet against America?? I don't see the correlation.
 
rainbow_unicorn said:
Why is Crypto a bet against America?? I don't see the correlation.
Click to expand...

Crypto hedges against inflation and uncertainty in the legacy markets and US Dollar. The catalyst for this has been COVID.

COVID will eventually be a thing of the past and faith in legacy sectors will eventually stabilize.

In the end, I rather put my dollar behind a stock with a product and/or service behind it, over a unit of digital currency with no inherit value other than what the public deems it to be.

Don't get me wrong, I'm not against crypto. It has proven to be an unprecedented hedge against current market volatility and times, but long term it will continue to have it's peaks and massive sell-offs. That's just me though. Everyone has their own investment strategies.
 
Someone convince me how this:

Code: 
00000000839a8e6886ab5951d76f411475428afc90947ee320161bbf18eb6048

is worth 1.9 million dollars.
 
nextgenathletics said:
Crypto hedges against inflation and uncertainty in the legacy markets and US Dollar. The catalyst for this has been COVID.

COVID will eventually be a thing of the past and faith in legacy sectors will eventually stabilize.

In the end, I rather put my dollar behind a stock with a product and/or service behind it, over a unit of digital currency with no inherit value other than what the public deems it to be.

Don't get me wrong, I'm not against crypto. It has proven to be an unprecedented hedge against current market volatility and times, but long term it will continue to have it's peaks and massive sell-offs. That's just me though. Everyone has their own investment strategies.
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Its not meant to primarily be a hedge against market volatility but rather inflation of the money supply. Which is definitely happening.
 
Bruddah IZ said:
Its not meant to primarily be a hedge against market volatility but rather inflation of the money supply. Which is definitely happening.
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Printing more money is not necessarily a bad thing provided that an economy is in danger of stalling and that people/companies are spending that money to prevent inflation.
 
notintheface said:
Someone convince me how this:

Code: 
00000000839a8e6886ab5951d76f411475428afc90947ee320161bbf18eb6048

is worth 1.9 million dollars.
Click to expand...
Truly, I don't get it.

I bet this dude is kicking himself now, "The first-ever bitcoin transaction was made in 2010, when a Florida man paid a British man 10,000 bitcoins to order him two Papa John’s pizzas. Today that would be worth more than $300m."

What is bitcoin and why are so many people looking to buy it? | Richard Partington | Technology | The Guardian
 
rainbow_unicorn said:
Printing more money is not necessarily a bad thing provided that an economy is in danger of stalling and that people/companies are spending that money to prevent inflation.
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You don't spend money to prevent inflation. Quite the opposite actually. Increases in money supply, ALWAYS precede price increases.
 
Bruddah IZ said:
Its not meant to primarily be a hedge against market volatility but rather inflation of the money supply. Which is definitely happening.
Click to expand...

Make this make sense to me. If you want to hedge against inflation you go out and buy every piece of real estate you possibly can afford, because either it generates cashflow through rent or appreciates faster than inflation and it's a physical asset. It isn't a random group of characters that somehow represent money.
 
notintheface said:
Make this make sense to me. If you want to hedge against inflation you go out and buy every piece of real estate you possibly can afford, because either it generates cashflow through rent or appreciates faster than inflation and it's a physical asset. It isn't a random group of characters that somehow represent money.
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Who says it doesn't "represent" money?
 
notintheface said:
Make this make sense to me. If you want to hedge against inflation you go out and buy every piece of real estate you possibly can afford, because either it generates cashflow through rent or appreciates faster than inflation and it's a physical asset. It isn't a random group of characters that somehow represent money.
Click to expand...

"Can afford" is the key word here. Yes, I agree, real estate is my favorite investment method overall if you have the capital.

What makes Bitcoin unique is that each unit is coded with specific digital data that theoretically makes each bitcoin non-duplicable which protects it against inflation and makes it more akin to gold. That being said, to me, that's as far as its inherit value is. It has anointed value over practical value. A stock on the other hand can pay a dividend, and you can look into a company's balance sheet to strategize your stock investment. There is more transparency with stocks than crypto.

Like I mentioned earlier, I prefer stocks because I like my investment to have something tangible behind it, like a business or service, or even better yet real estate as I have even more options with it and even more control (I can rent, sub-lease, flip, customize, or just live) along with the tax benefits property ownership brings if you live on the property.
 
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