Cryptocurrency

[smelmoth]

Best to look at crypto currencies (from an investment perspective) is as a cruel joke.

A few might get a laugh along the way but at what cost.

Those holding it today can get their money back before the bubble bursts but only by passing the problem to somebody else. The only people involved for whom this is not true is that the ones that got in low and trousered the uplift on the greater part of the stake and can well afford to cash out too late on what stake they left.

I notice there is no big rush of posters trying to explain the basis of the value of a cryptocurrency

I've already told you that, in my opinion, Bitcoin is valued on the same basis as gold. That is people believe it is a Store of Value.
Gold doesn't have value because it makes "pretty" jewellery as you suggested earlier, because fakes can be made that look just as "pretty".

Whether Bitcoin becomes that Store of Value is the question, I think it will, you think it won't. That's all there is to it.  We'll have a better idea in 2025 as to who was right.

I will take that one on the chin. My description of the basis of gold's value was a bit lax. I was trying to say where it's original value came from but realise that isn't quite what I ended up saying. I'm not a fan of gold as an investment. I would class it alongside wine or whiskey that is never meant to be drank.

Scammers are getting stupid people to invest in this shit. Fools and their money is one thing but fools with spare cash in an unregulated market is just a feeding frenzy

[trailer]

Best to look at crypto currencies (from an investment perspective) is as a cruel joke.

A few might get a laugh along the way but at what cost.

Those holding it today can get their money back before the bubble bursts but only by passing the problem to somebody else. The only people involved for whom this is not true is that the ones that got in low and trousered the uplift on the greater part of the stake and can well afford to cash out too late on what stake they left.

I notice there is no big rush of posters trying to explain the basis of the value of a cryptocurrency

I've already told you that, in my opinion, Bitcoin is valued on the same basis as gold. That is people believe it is a Store of Value.
Gold doesn't have value because it makes "pretty" jewellery as you suggested earlier, because fakes can be made that look just as "pretty".

Whether Bitcoin becomes that Store of Value is the question, I think it will, you think it won't. That's all there is to it.  We'll have a better idea in 2025 as to who was right.

This is pretty much it. Smelmoth thinks it is a scam, others don't.
My prediction is Bitcoin to £100k before year end. Get on the train.

[smelmoth]

Best to look at crypto currencies (from an investment perspective) is as a cruel joke.

A few might get a laugh along the way but at what cost.

Those holding it today can get their money back before the bubble bursts but only by passing the problem to somebody else. The only people involved for whom this is not true is that the ones that got in low and trousered the uplift on the greater part of the stake and can well afford to cash out too late on what stake they left.

I notice there is no big rush of posters trying to explain the basis of the value of a cryptocurrency

I've already told you that, in my opinion, Bitcoin is valued on the same basis as gold. That is people believe it is a Store of Value.
Gold doesn't have value because it makes "pretty" jewellery as you suggested earlier, because fakes can be made that look just as "pretty".

Whether Bitcoin becomes that Store of Value is the question, I think it will, you think it won't. That's all there is to it.  We'll have a better idea in 2025 as to who was right.

This is pretty much it. Smelmoth thinks it is a scam, others don't.
My prediction is Bitcoin to £100k before year end. Get on the train.

£100k is a lovely round number and Bitcoin could easily reach £100k by the end of the year but where do think it will level out at and more importantly, why?

[Mikhail Prokhorov]

Best to look at crypto currencies (from an investment perspective) is as a cruel joke.

A few might get a laugh along the way but at what cost.

Those holding it today can get their money back before the bubble bursts but only by passing the problem to somebody else. The only people involved for whom this is not true is that the ones that got in low and trousered the uplift on the greater part of the stake and can well afford to cash out too late on what stake they left.

I notice there is no big rush of posters trying to explain the basis of the value of a cryptocurrency

I've already told you that, in my opinion, Bitcoin is valued on the same basis as gold. That is people believe it is a Store of Value.
Gold doesn't have value because it makes "pretty" jewellery as you suggested earlier, because fakes can be made that look just as "pretty".

Whether Bitcoin becomes that Store of Value is the question, I think it will, you think it won't. That's all there is to it.  We'll have a better idea in 2025 as to who was right.

This is pretty much it. Smelmoth thinks it is a scam, others don't.
My prediction is Bitcoin to £100k before year end. Get on the train.

£100k is a lovely round number and Bitcoin could easily reach £100k by the end of the year but where do think it will level out at and more importantly, why?

Gold is a good hedge against hyperinflation, bitcoin will be as well

The US dollar, which we are all linked to, is heading for a massive fall so don't say you all weren't warned 

any profit on these joke coins made, just convert to btc and hodl 

[screenexile]

Will other countries go the way of Turkey and ban crypto??

[clarshack]

Bloody Sunday

[smelmoth]

Best to look at crypto currencies (from an investment perspective) is as a cruel joke.

A few might get a laugh along the way but at what cost.

Those holding it today can get their money back before the bubble bursts but only by passing the problem to somebody else. The only people involved for whom this is not true is that the ones that got in low and trousered the uplift on the greater part of the stake and can well afford to cash out too late on what stake they left.

I notice there is no big rush of posters trying to explain the basis of the value of a cryptocurrency

I've already told you that, in my opinion, Bitcoin is valued on the same basis as gold. That is people believe it is a Store of Value.
Gold doesn't have value because it makes "pretty" jewellery as you suggested earlier, because fakes can be made that look just as "pretty".

Whether Bitcoin becomes that Store of Value is the question, I think it will, you think it won't. That's all there is to it.  We'll have a better idea in 2025 as to who was right.

This is pretty much it. Smelmoth thinks it is a scam, others don't.
My prediction is Bitcoin to £100k before year end. Get on the train.

£100k is a lovely round number and Bitcoin could easily reach £100k by the end of the year but where do think it will level out at and more importantly, why?

Gold is a good hedge against hyperinflation, bitcoin will be as well

The US dollar, which we are all linked to, is heading for a massive fall so don't say you all weren't warned 

any profit on these joke coins made, just convert to btc and hodl 

You argue that Bitcoin is a good alternative to investing of gold. That will of interest to those who are interested in investing in gold. What's that? Some small fraction of 1% of investors and some infinitesimal fraction of 1% of the population?

It's getting harder and harder to find anyone who whilst willing to promote cryptocurrency as an investment is also willing to explain why it's a going to be a good investment other than in the way that tuilips from Amsterdam were a good investment during the period before they weren't a good investment

[Smokin Joe]

You argue that Bitcoin is a good alternative to investing of gold. That will of interest to those who are interested in investing in gold. What's that? Some small fraction of 1% of investors and some infinitesimal fraction of 1% of the population?

It's getting harder and harder to find anyone who whilst willing to promote cryptocurrency as an investment is also willing to explain why it's a going to be a good investment other than in the way that tuilips from Amsterdam were a good investment during the period before they weren't a good investment

Do you deliberately misrepresent the point I have made?

I have never had any interest in investing in gold. I'd imagine buying it would be tricky enough and as for storing it.........

My point is that Bitcoin is another asset class that allows people to invest.  A traditional portfolio would see an individual investing in equities (domestive and more exotic), fixed interest and property etc.  Bitcoin now provides another asset class for someone to potentially invest in.

My reference to gold is that gold only has the value it has because people believe that's what the value is.  The point is that once a sufficient number of people believe that an asset is a store of value then it becomes that store of value because the asset becomes tradeable.

I get that you don't think BTC is valuable. You have made that point repeatedly.  Like a I said a few posts back, let's bookmark this conversation for 2025 and see how things look; until then we are both wasting each other's time.

[smelmoth]

You argue that Bitcoin is a good alternative to investing of gold. That will of interest to those who are interested in investing in gold. What's that? Some small fraction of 1% of investors and some infinitesimal fraction of 1% of the population?

It's getting harder and harder to find anyone who whilst willing to promote cryptocurrency as an investment is also willing to explain why it's a going to be a good investment other than in the way that tuilips from Amsterdam were a good investment during the period before they weren't a good investment

Do you deliberately misrepresent the point I have made?

I have never had any interest in investing in gold. I'd imagine buying it would be tricky enough and as for storing it.........

My point is that Bitcoin is another asset class that allows people to invest.  A traditional portfolio would see an individual investing in equities (domestive and more exotic), fixed interest and property etc.  Bitcoin now provides another asset class for someone to potentially invest in.

My reference to gold is that gold only has the value it has because people believe that's what the value is.  The point is that once a sufficient number of people believe that an asset is a store of value then it becomes that store of value because the asset becomes tradeable.

I get that you don't think BTC is valuable. You have made that point repeatedly.  Like a I said a few posts back, let's bookmark this conversation for 2025 and see how things look; until then we are both wasting each other's time.

Very happy to move on from gold.

Totally accept that Bitcoin is an another asset class for investors to look at. Then again so are tulips.

Are you willing to have a stab at my earlier question - if Bitcoin was overvalued by 15% how would you know?

I am suspicious of people talking up cryptocurrency.
I'm even more suspicious of those talking up a cryptocurrency but unwilling to explain the basis of its (future) value
But when a poster account responds to a challenge to another poster account I get really suspicious.

Everybody has their own motivations. Mine are clean and above board

[StPatsAbu]

You argue that Bitcoin is a good alternative to investing of gold. That will of interest to those who are interested in investing in gold. What's that? Some small fraction of 1% of investors and some infinitesimal fraction of 1% of the population?

It's getting harder and harder to find anyone who whilst willing to promote cryptocurrency as an investment is also willing to explain why it's a going to be a good investment other than in the way that tuilips from Amsterdam were a good investment during the period before they weren't a good investment

Do you deliberately misrepresent the point I have made?

I have never had any interest in investing in gold. I'd imagine buying it would be tricky enough and as for storing it.........

My point is that Bitcoin is another asset class that allows people to invest.  A traditional portfolio would see an individual investing in equities (domestive and more exotic), fixed interest and property etc.  Bitcoin now provides another asset class for someone to potentially invest in.

My reference to gold is that gold only has the value it has because people believe that's what the value is.  The point is that once a sufficient number of people believe that an asset is a store of value then it becomes that store of value because the asset becomes tradeable.

I get that you don't think BTC is valuable. You have made that point repeatedly.  Like a I said a few posts back, let's bookmark this conversation for 2025 and see how things look; until then we are both wasting each other's time.

Very happy to move on from gold.

Totally accept that Bitcoin is an another asset class for investors to look at. Then again so are tulips.

Are you willing to have a stab at my earlier question - if Bitcoin was overvalued by 15% how would you know?

I am suspicious of people talking up cryptocurrency.
I'm even more suspicious of those talking up a cryptocurrency but unwilling to explain the basis of its (future) value
But when a poster account responds to a challenge to another poster account I get really suspicious.

Everybody has their own motivations. Mine are clean and above board

Since any commodity's or currency's  value is based whatever people are willing to pay for it at a given pont in time, how would you know if anything is overvalued?

[Baile Brigín 2]

You argue that Bitcoin is a good alternative to investing of gold. That will of interest to those who are interested in investing in gold. What's that? Some small fraction of 1% of investors and some infinitesimal fraction of 1% of the population?

It's getting harder and harder to find anyone who whilst willing to promote cryptocurrency as an investment is also willing to explain why it's a going to be a good investment other than in the way that tuilips from Amsterdam were a good investment during the period before they weren't a good investment

Do you deliberately misrepresent the point I have made?

I have never had any interest in investing in gold. I'd imagine buying it would be tricky enough and as for storing it.........

My point is that Bitcoin is another asset class that allows people to invest.  A traditional portfolio would see an individual investing in equities (domestive and more exotic), fixed interest and property etc.  Bitcoin now provides another asset class for someone to potentially invest in.

My reference to gold is that gold only has the value it has because people believe that's what the value is.  The point is that once a sufficient number of people believe that an asset is a store of value then it becomes that store of value because the asset becomes tradeable.

I get that you don't think BTC is valuable. You have made that point repeatedly.  Like a I said a few posts back, let's bookmark this conversation for 2025 and see how things look; until then we are both wasting each other's time.

Very happy to move on from gold.

Totally accept that Bitcoin is an another asset class for investors to look at. Then again so are tulips.

Are you willing to have a stab at my earlier question - if Bitcoin was overvalued by 15% how would you know?

I am suspicious of people talking up cryptocurrency.
I'm even more suspicious of those talking up a cryptocurrency but unwilling to explain the basis of its (future) value
But when a poster account responds to a challenge to another poster account I get really suspicious.

Everybody has their own motivations. Mine are clean and above board

Since any commodity's or currency's  value is based whatever people are willing to pay for it at a given pont in time, how would you know if anything is overvalued?

Bubble theory.

A commodity or a currency has an intrinsic value and a use. McDonalds buy beef to make burgers. The Swedish Korona can be used to buy stuff. There is a clear and on paper transparent market for them.

Crypto fulfils no such criteria. It's opaque and has no actual function.

[StPatsAbu]

You argue that Bitcoin is a good alternative to investing of gold. That will of interest to those who are interested in investing in gold. What's that? Some small fraction of 1% of investors and some infinitesimal fraction of 1% of the population?

It's getting harder and harder to find anyone who whilst willing to promote cryptocurrency as an investment is also willing to explain why it's a going to be a good investment other than in the way that tuilips from Amsterdam were a good investment during the period before they weren't a good investment

Do you deliberately misrepresent the point I have made?

I have never had any interest in investing in gold. I'd imagine buying it would be tricky enough and as for storing it.........

My point is that Bitcoin is another asset class that allows people to invest.  A traditional portfolio would see an individual investing in equities (domestive and more exotic), fixed interest and property etc.  Bitcoin now provides another asset class for someone to potentially invest in.

My reference to gold is that gold only has the value it has because people believe that's what the value is.  The point is that once a sufficient number of people believe that an asset is a store of value then it becomes that store of value because the asset becomes tradeable.

I get that you don't think BTC is valuable. You have made that point repeatedly.  Like a I said a few posts back, let's bookmark this conversation for 2025 and see how things look; until then we are both wasting each other's time.

Very happy to move on from gold.

Totally accept that Bitcoin is an another asset class for investors to look at. Then again so are tulips.

Are you willing to have a stab at my earlier question - if Bitcoin was overvalued by 15% how would you know?

I am suspicious of people talking up cryptocurrency.
I'm even more suspicious of those talking up a cryptocurrency but unwilling to explain the basis of its (future) value
But when a poster account responds to a challenge to another poster account I get really suspicious.

Everybody has their own motivations. Mine are clean and above board

Since any commodity's or currency's  value is based whatever people are willing to pay for it at a given pont in time, how would you know if anything is overvalued?

Bubble theory.

A commodity or a currency has an intrinsic value and a use. McDonalds buy beef to make burgers. The Swedish Korona can be used to buy stuff. There is a clear and on paper transparent market for them.

Crypto fulfils no such criteria. It's opaque and has no actual function.

It's in fact the Swedish Krona you can buy stuff with, just like Bitcoin.

[Baile Brigín 2]

You argue that Bitcoin is a good alternative to investing of gold. That will of interest to those who are interested in investing in gold. What's that? Some small fraction of 1% of investors and some infinitesimal fraction of 1% of the population?

It's getting harder and harder to find anyone who whilst willing to promote cryptocurrency as an investment is also willing to explain why it's a going to be a good investment other than in the way that tuilips from Amsterdam were a good investment during the period before they weren't a good investment

Do you deliberately misrepresent the point I have made?

I have never had any interest in investing in gold. I'd imagine buying it would be tricky enough and as for storing it.........

My point is that Bitcoin is another asset class that allows people to invest.  A traditional portfolio would see an individual investing in equities (domestive and more exotic), fixed interest and property etc.  Bitcoin now provides another asset class for someone to potentially invest in.

My reference to gold is that gold only has the value it has because people believe that's what the value is.  The point is that once a sufficient number of people believe that an asset is a store of value then it becomes that store of value because the asset becomes tradeable.

I get that you don't think BTC is valuable. You have made that point repeatedly.  Like a I said a few posts back, let's bookmark this conversation for 2025 and see how things look; until then we are both wasting each other's time.

Very happy to move on from gold.

Totally accept that Bitcoin is an another asset class for investors to look at. Then again so are tulips.

Are you willing to have a stab at my earlier question - if Bitcoin was overvalued by 15% how would you know?

I am suspicious of people talking up cryptocurrency.
I'm even more suspicious of those talking up a cryptocurrency but unwilling to explain the basis of its (future) value
But when a poster account responds to a challenge to another poster account I get really suspicious.

Everybody has their own motivations. Mine are clean and above board

Since any commodity's or currency's  value is based whatever people are willing to pay for it at a given pont in time, how would you know if anything is overvalued?

Bubble theory.

A commodity or a currency has an intrinsic value and a use. McDonalds buy beef to make burgers. The Swedish Korona can be used to buy stuff. There is a clear and on paper transparent market for them.

Crypto fulfils no such criteria. It's opaque and has no actual function.

It's in fact the Swedish Krona you can buy stuff with, just like Bitcoin.

I can go into McDonalds and exchange bitcoin for a McFlurry?

[StPatsAbu]

You argue that Bitcoin is a good alternative to investing of gold. That will of interest to those who are interested in investing in gold. What's that? Some small fraction of 1% of investors and some infinitesimal fraction of 1% of the population?

It's getting harder and harder to find anyone who whilst willing to promote cryptocurrency as an investment is also willing to explain why it's a going to be a good investment other than in the way that tuilips from Amsterdam were a good investment during the period before they weren't a good investment

Do you deliberately misrepresent the point I have made?

I have never had any interest in investing in gold. I'd imagine buying it would be tricky enough and as for storing it.........

My point is that Bitcoin is another asset class that allows people to invest.  A traditional portfolio would see an individual investing in equities (domestive and more exotic), fixed interest and property etc.  Bitcoin now provides another asset class for someone to potentially invest in.

My reference to gold is that gold only has the value it has because people believe that's what the value is.  The point is that once a sufficient number of people believe that an asset is a store of value then it becomes that store of value because the asset becomes tradeable.

I get that you don't think BTC is valuable. You have made that point repeatedly.  Like a I said a few posts back, let's bookmark this conversation for 2025 and see how things look; until then we are both wasting each other's time.

Very happy to move on from gold.

Totally accept that Bitcoin is an another asset class for investors to look at. Then again so are tulips.

Are you willing to have a stab at my earlier question - if Bitcoin was overvalued by 15% how would you know?

I am suspicious of people talking up cryptocurrency.
I'm even more suspicious of those talking up a cryptocurrency but unwilling to explain the basis of its (future) value
But when a poster account responds to a challenge to another poster account I get really suspicious.

Everybody has their own motivations. Mine are clean and above board

Since any commodity's or currency's  value is based whatever people are willing to pay for it at a given pont in time, how would you know if anything is overvalued?

Bubble theory.

A commodity or a currency has an intrinsic value and a use. McDonalds buy beef to make burgers. The Swedish Korona can be used to buy stuff. There is a clear and on paper transparent market for them.

Crypto fulfils no such criteria. It's opaque and has no actual function.

It's in fact the Swedish Krona you can buy stuff with, just like Bitcoin.

I can go into McDonalds and exchange bitcoin for a McFlurry?

Your local McDonalds won't accept Krona either but both can be changed to Euro via Revolut, Apple Pay, Ziglu etc

[Capt Pat]

Who is behind bitcoin or any other of the cryptocurrencys for that matter?

If Bill Gates, Mark Zuckerberg and Elon Musk had come out in advance of bitcoin being set up and said that they would accept bitcoin in exchange for their products. Then you might have something. Who is behind bitcoin? Who set it up? It was not the 3 mentioned above? It was not Barclays bank or Santander group. A mysterious Japanese gentleman? Was it the Yakuza behind it? Was it Russian hackers?

All this money invested 874,435,000,000 dollars it is supposed to be worth. It is in me hole. You can maybe trade with Elon Musk and Tesla. This will all end in tears imho.