Cryptocurrency

[StPatsAbu]

Prob will end it tears but you'd love to have bought a few back in the day all the same

[trailer]

A lot of people who are critical of Crypto on this site don't appear to understand at all. But, yes loads of these coins are overvalued.

[clarshack]

A lot of people who are critical of Crypto on this site don't appear to understand at all. But, yes loads of these coins are overvalued.

Doge especially. That's one coin way overvalued.

[trailer]

A lot of people who are critical of Crypto on this site don't appear to understand at all. But, yes loads of these coins are overvalued.

Doge especially. That's one coin way overvalued.

Anyone buying Doge needs to seek immediate medical help.

[dec]

A lot of people who are critical of Crypto on this site don't appear to understand at all. But, yes loads of these coins are overvalued.

How do you decide the correct value for a crypto currency?

[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

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?

there is a bit more to it that that. The vast majority of trades in the vast majority of currencies/commodities are not investments. The majority of purchasers are not buying to get in on an appreciating asset nor are they seeking a store of value. The majority of trades is just the flow of trade. People buying tin tend to want tin and are using or processing tin. People buying grain tend to want grain and are involved in brewing, animal feed or milling. There are real world economies for tin and grain. Those real world dynamics can be analysed and value corrections anticipated.

I keep asking about the real world dynamics for cryptocurrencies. None of the boys on here touting cryptocurrencies or a particular currency are prepared to set it out. 

[smelmoth]

A lot of people who are critical of Crypto on this site don't appear to understand at all. But, yes loads of these coins are overvalued.

it would good if some of the boys who do "know how it works" so spell out what underpins its value? Maybe the lad who's strategy was to sell his investment "at the right time" could explain, He seemed to have his head screwed on

[smelmoth]

A lot of people who are critical of Crypto on this site don't appear to understand at all. But, yes loads of these coins are overvalued.

Doge especially. That's one coin way overvalued.

Please explain?

[clarshack]

A lot of people who are critical of Crypto on this site don't appear to understand at all. But, yes loads of these coins are overvalued.

Doge especially. That's one coin way overvalued.

Please explain?

It has no use case, has an infinite amount of coins and there already is about 129 billion of them.

[smelmoth]

A lot of people who are critical of Crypto on this site don't appear to understand at all. But, yes loads of these coins are overvalued.

Doge especially. That's one coin way overvalued.

Please explain?

It has no use case, has an infinite amount of coins and there already is about 129 billion of them.

The perils of the attitude that the value of something is what people are prepared to pay for it are writ large right there.

[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?

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

And they are all banking solutions. What has crypto got to do with the real economy?

[smelmoth]

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.

Well Joe/Mick? Bad couple of days for the bubble. Hasn't exactly burst but a little of the hot air has escaped. No doubt it will build up again.

I don't know what the significance of 2025 is and I have no idea what the value of BTC will be in 2025. Could be £500k or could be Nil.And it could be £500k on 2025 and Nil in 2026. That's my point.

Still can't get anyone who can tell me what underpins its value.

[trailer]

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.

Well Joe/Mick? Bad couple of days for the bubble. Hasn't exactly burst but a little of the hot air has escaped. No doubt it will build up again.

I don't know what the significance of 2025 is and I have no idea what the value of BTC will be in 2025. Could be £500k or could be Nil.And it could be £500k on 2025 and Nil in 2026. That's my point.

Still can't get anyone who can tell me what underpins its value.

Had fair wee sum knocked off my portfolio in this last few days. So went out and bought more. ADA and BTC. I am still up on what I put in. So happy enough.

[smelmoth]

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.

Well Joe/Mick? Bad couple of days for the bubble. Hasn't exactly burst but a little of the hot air has escaped. No doubt it will build up again.

I don't know what the significance of 2025 is and I have no idea what the value of BTC will be in 2025. Could be £500k or could be Nil.And it could be £500k on 2025 and Nil in 2026. That's my point.

Still can't get anyone who can tell me what underpins its value.

Had fair wee sum knocked off my portfolio in this last few days. So went out and bought more. ADA and BTC. I am still up on what I put in. So happy enough.

Have you a strike price for getting out?

Where do think it's value could get to?

Are you confident that if there is a rush to get out that the system will allow it and that there will be buyers? I am not saying that rush will be now. Just at some stage in the future.

I hope that you are playing with a small stake here. I hope that is the case for all the retail investors. That's the only way I see that doesn't end in misery

[RadioGAAGAA]

Still can't get anyone who can tell me what underpins its value.

The exact same thing that underpins any FIAT currency's value. Confidence the in ability to exchange it for goods.


What is the difference between the US dollar and the Zimbabwean dollar?