davidsrsb
pfm Member
Investing short term money. Bitcoin is a long term gamble, it can roller coaster up and down or simply die if mining gets stoppedWhy?
Investing short term money. Bitcoin is a long term gamble, it can roller coaster up and down or simply die if mining gets stoppedWhy?
Let’s hope no one starts one on NVIDIA.
Borrowing to buy Bitcoin is really gambling because it is volatile and you do not want to be a forced seller. So far they are the only ones who should have lost as the price is an all time high. So far.Investing short term money. Bitcoin is a long term gamble, it can roller coaster up and down or simply die if mining gets stopped
Investing short term money. Bitcoin is a long term gamble, it can roller coaster up and down or simply die if mining gets stopped
I thought block chain or what ever was moving to a different model not requiring the massive electric overhead?I don't really follow this stuff any more, but people seem to me to be misunderstanding the BTC trade. The trade is not about holding it long enough to eventually make gazillions as BTC becomes the new world currency or whatever. The strat is taking some of the money that all the people who lose their life savings and/or house are paying out. The thing that is stopping most people making this trade is that, even in the world of finance, most people are not massive dicks.
ISTM that BTC can be thought of as a derviative where the underlying is not interst rates, government debt or even some future as yet undetermined real world use for BTC. The underlying is people losing their life savings. i.e. when the eleventy billion market crashes the money doesn't cease to exist it goes somewhere -- and the BTC trade is being the somewhere by taking profit along the way.
Which is why one suspects a largepart of the "somewhere" is the Russian mob and other people who have no issue with the being a massive dick thing.
IMHO the end game for BTC is energy costs. Let's be optimistic and assume that it's the energy requirements of AI that drive BTC to a hard zero rather than a climate catatrophe.
But, like I say, I mostly ignore this stuff these days so if someone can correct my logic here then please do.
I thought block chain or what ever was moving to a different model not requiring the massive electric overhead?
I don't do Bitcoin despite having a son who has more than tripled his money and will hold onto them until he retires. If he makes a fortune then so good and if he loses the lot, then so be it.I don't really follow this stuff any more, but people seem to me to be misunderstanding the BTC trade. The trade is not about holding it long enough to eventually make gazillions as BTC becomes the new world currency or whatever. The strat is taking some of the money that all the people who lose their life savings and/or house are paying out. The thing that is stopping most people making this trade is that, even in the world of finance, most people are not massive dicks.
ISTM that BTC can be thought of as a derviative where the underlying is not interst rates, government debt or even some future as yet undetermined real world use for BTC. The underlying is people losing their life savings. i.e. when the eleventy billion market crashes the money doesn't cease to exist it goes somewhere -- and the BTC trade is being the somewhere by taking profit along the way.
Which is why one suspects a largepart of the "somewhere" is the Russian mob and other people who have no issue with the being a massive dick thing.
IMHO the end game for BTC is energy costs. Let's be optimistic and assume that it's the energy requirements of AI that drive BTC to a hard zero rather than a climate catatrophe.
But, like I say, I mostly ignore this stuff these days so if someone can correct my logic here then please do.
They needed the money now.I mean why did they sell it at a loss?
I don't really follow this stuff any more, but people seem to me to be misunderstanding the BTC trade. The trade is not about holding it long enough to eventually make gazillions as BTC becomes the new world currency or whatever. The strat is taking some of the money that all the people who lose their life savings and/or house are paying out. The thing that is stopping most people making this trade is that, even in the world of finance, most people are not massive dicks.
ISTM that BTC can be thought of as a derviative where the underlying is not interst rates, government debt or even some future as yet undetermined real world use for BTC. The underlying is people losing their life savings. i.e. when the eleventy billion market crashes the money doesn't cease to exist it goes somewhere -- and the BTC trade is being the somewhere by taking profit along the way
IMHO the end game for BTC is energy costs. Let's be optimistic and assume that it's the energy requirements of AI that drive BTC to a hard zero rather than a climate catatrophe.
I think some people don't find this a cause for celebration.Anyone who bought, say, $3,500 worth in Nov 2015 would now be worth $640,000.
You make it sound as though people in general are losing their life savings. Surely only those who bought at previous highs and had to sell on a dip could have lost ? We are all guessing but my guess is those people are vastly outnumbered by people who didn't buy high/sell low.
Can you explain your thinking re AI energy requirements driving BTC to zero value ?
Crypto is still worth something?Tell me the difference between crypto and NFTs.
I have a golden rule of never watching youtube videos (or any actually) that use the word "Shocked" in their title.
Even those people who are manipulated in to doing so?Anyone that is stupid enough to risk their life savings deserves what they get. The Crypto market has always been volatile and will continue to be for some time I’m sure
Those that brought Bitcoin high and then lost because they had to sell, as mentioned up thread, were clearly after a quick win and caught a cold! There will always be winners and losers in any market, people just need to be sensible and do their research