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HariSeldon

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About HariSeldon

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  1. Well yes but that's why "stability" is a fundamental aspect of whether something is a store of value or not otherwise nothing in life would ever be considered such. £1 is relatively stable, 1 BTC is not remotely stable and so cannot be considered a store of value.
  2. Originally I thought I could possibly double my money by timing it right but to be honest I'd almost forgotten about it until I saw this thread again. Seeing the large jumps yesterday/today I am now thinking of cashing out my initial stake leaving me with pure profit on what's left. As an aside does anyone else here use Coinbase? I don't seem to be able to easily see the average price I paid for my BTC holding to be able to compare against today's price, is this possible?
  3. £1 in your bank account is a store of value, 1 BTC in your wallet is not. If Bitcoin has practically no intrinsic value and is not a store of value then what is it? To me it is a speculative bubble far bigger than the house price one often mentioned on this site and one that will eventually fall much further. In the meantime though I'll have some fun with the ups and downs and hopefully make a few pounds in the process. ☺️
  4. I did very little research and do not for one minute consider this an investment. A friend repaid a large sum of money I had lent them and for fun I decided to gamble a small part of that on Bitcoin as I could see how up and down it kept going and was curious as to how it all worked. All that raw computing power sounds great but unless there's an actual use for it then it doesn't really give Bitcoin any intrinsic value does it.
  5. OK thanks, you learn something new every day. The roller coaster ride of Bitcoin surely proves irrefutably that it is not a "store of value". Regardless scarcity is only of benefit if there's demand and that's where I think we disagree. I don't see where the demand will come from once sentiment in Bitcoin dissipates which I believe it will unless a real worthwhile use is found for it.
  6. What does that mean? What is the "hardest" asset class currently?
  7. That is its problem, what is the value of "the most secure and decentralised network in the world"? Is that even true? A quick Google suggests Electroneum makes the same claim. What makes Bitcoin have intrinsic value over other crypo-coins? Gold and Oil that you mentioned have obvious and real intrinsic value. To me Bitcoin seems to be a solution to a problem that either doesn't exist or isn't big enough of a problem for sufficient people to worry about. It has pretty much failed as an actual currency so what specifically makes Bitcoin the next big thing? So many assumptions! ☺️
  8. Perhaps I mis-understood your original post? I said in five years people holding today would wish they'd sold when they could and you said "I'm thinking THE OPPOSITE of that now" which I assumed meant you were thinking of buying more now rather than selling.
  9. So you are not quite as confident about the future direction of Bitcoin as your first post made out... It's obviously not exactly a Ponzi/Pyramid but is very similar - Bitcoin relies entirely on new people buying into the idea, it has little or no intrinsic value in itself.
  10. Gold has an intrinsic value. Bitcoin only has an intrinsic value if enough people start using it as currency and I've not seen any evidence of widespread mainstream usage. In fact some big companies who used to accept Bitcoin no longer do. Perhaps more tellingly is the whole HODL ideology which to my mind practically admits that Bitcoin as a currency is dead in water and is nothing more than another type of pyramid scheme. How much Bitcoin have you bought this month?
  11. That is one possibility - much more likely is most people will be thinking thank god I didn't get suckered in to that Bitcoin racket and those who are holding today will be wishing they'd sold while there were still people buying into it.
  12. I know you said these were assumptions but there are some serious mistakes in your assumptions! One clue is in the work PEAK, you cannot take the peak number, multiple by 365 and come up with an extra 360,000 deaths per year. You have to average the numbers over a year so the actual figure is perhaps 50%, 30%, 20% or even less of the peak figure over the whole year. Also you claimed these were EXTRA DEATHS. We don't know that yet and perhaps never will. On average 17,000 people die in the UK from flu every year although it has been as high as 28,000 - how many COVID-19 victims would
  13. That is the huge irony isn't it. If house prices fall then for many people it actually becomes even more difficult to buy a property.
  14. Unfortunately for Estate Agents they don't get to decide what price a property is sold at (the sellers do) and only the most desperate sellers will sell at any price.
  15. That is not what I am seeing locally - houses that were on the market for ages suddenly sold once Brexit happened. In my village the longest listing as of now first appeared in November 2019 and that is now SSTC - there are only two other listing and one of them only came on to the market last week. Is there any evidence that houses are not selling or is that just your wishful thinking?
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