fatspanner Posted May 16, 2020 Share Posted May 16, 2020 Like I said I'm pretty new to this and could be very naive. Im currently of the opinion that Bitcoin will raise considerably over the next few years. I'm late to the game but still happy to purchase in the dips. Very long term I'm not so sure as the amount of computing power required to sustain the network is immense. Quote Link to comment Share on other sites More sharing options...
MonsieurCopperCrutch Posted May 16, 2020 Share Posted May 16, 2020 2 hours ago, longgone said: so you paid pennies for thousands of them could of sold over $1000k each in 2018 and now they have lost 90% you are hedging against printing press ?? the lock down has scrambled your mind. https://www.coindesk.com/price/ethereum that`s why i love this forum. so many with perfect timing. The trouble with you salty dog nocoiners is that you fail to understand the full potential of crypto and you believe you have to be in one currency or the other. To you it's just black and white. But crypto is just getting started, the fintech genie is now out of the bottle, so to speak. Technology revolutionised everything from the printing press to the media landscape, and now the bankster filth are within reach. Ergo, I now hodl substantial assets in many currencies, not just crypto-currencies. After I first read the Bitcoin whitepaper back in 2013 I had bought my first Bitcoin within the day by wiring my money to Germany. Now every crypto I own is in a secure offline cold storage as a hedge against my other wealth. Now if I do not need to sell, let alone want to sell, what makes you think I should? Quote Link to comment Share on other sites More sharing options...
MonsieurCopperCrutch Posted May 16, 2020 Share Posted May 16, 2020 2 hours ago, jiltedjen said: I’m never sure why people seem to buy when the price seems quite high after a rise, yet sit on the sidelines when it’s low, often for months its like it’s takes missing out again in a big rise to finally drive people to take action the time to hedge is before the big moves. like buying gold for the last 5 years before COVID-19 not pulling in now. i think people like to do nothing for a long time then pile in all at once, it’s the people who buy when it’s low often months or even years in advance that make bank. It's called FOMO that makes them all pile in at once. Indeed what I fail to comprehend is why nocoiners get so salty. All the crypto whitepapers are out there for all to read. So why do they get salty with others who read them 7 years ago realising the investment potential? Quote Link to comment Share on other sites More sharing options...
MonsieurCopperCrutch Posted May 16, 2020 Share Posted May 16, 2020 1 hour ago, fatspanner said: Like I said I'm pretty new to this and could be very naive. Im currently of the opinion that Bitcoin will raise considerably over the next few years. I'm late to the game but still happy to purchase in the dips. Very long term I'm not so sure as the amount of computing power required to sustain the network is immense. My advice to you is to read the whitepapers, especially the Bitcoin one. Also read The Bitcoin Standard by Saifedean Ammous, and learn about DCA. That will help your crypto onboarding. Quote Link to comment Share on other sites More sharing options...
MonsieurCopperCrutch Posted May 16, 2020 Share Posted May 16, 2020 2 hours ago, crumblingcon said: I am not going to detail on my views and analysis on whats happening, I will just end making myself look stupid ? I just have this feeling though that whales are manipulating it a lot and something big is going to happen in the next 2 years, maybe way sooner. Bitcoin in now totally set up and I can think of hundred organisations, countries or payment systems that could go All in at some point and use it, it is the perfect currency. You are not wrong there: https://www.forbes.com/sites/robertanzalone/2020/05/07/paul-tudor-jones-buys-bitcoin-as-a-hedge/ Quote Link to comment Share on other sites More sharing options...
Lovely Rum Posted May 17, 2020 Share Posted May 17, 2020 16 hours ago, Warlord said: The big shots will not touch bitcoin the one fund manager who spoke about it said only put 1% of your assets into it. .. 1%! Most experts suggest 10-15% of assets in gold. 1% of a bigshots assets is a lot, especially when you consider the market cap of bitcoin Quote Link to comment Share on other sites More sharing options...
scottbeard Posted May 17, 2020 Share Posted May 17, 2020 16 hours ago, fatspanner said: Like I said I'm pretty new to this and could be very naive. Im currently of the opinion that Bitcoin will raise considerably over the next few years. I'm late to the game but still happy to purchase in the dips. Very long term I'm not so sure as the amount of computing power required to sustain the network is immense. It takes a lot of power to mine the Bitcoin, but not really to SUSTAIN it does it? Quote Link to comment Share on other sites More sharing options...
doomed Posted May 17, 2020 Share Posted May 17, 2020 18 hours ago, crumblingcon said: I am not going to detail on my views and analysis on whats happening, I will just end making myself look stupid ? I just have this feeling though that whales are manipulating it a lot and something big is going to happen in the next 2 years, maybe way sooner. Bitcoin in now totally set up and I can think of hundred organisations, countries or payment systems that could go All in at some point and use it, it is the perfect currency. It only allows ~10 transactions per second. It is already at capacity. It may have its place as an uncorrelated asset but is clearly not a currency. Quote Link to comment Share on other sites More sharing options...
MonsieurCopperCrutch Posted May 17, 2020 Share Posted May 17, 2020 54 minutes ago, doomed said: It only allows ~10 transactions per second. It is already at capacity. It may have its place as an uncorrelated asset but is clearly not a currency. As I said above, Layer 2. Quote Link to comment Share on other sites More sharing options...
Warlord Posted May 17, 2020 Share Posted May 17, 2020 6 hours ago, Lovely Rum said: 1% of a bigshots assets is a lot, especially when you consider the market cap of bitcoin I can't see funds or banks getting involved. Bitcoin is a speculative thing with wild swings unlike gold! Also i'm put off by all the fans of it on Twitter They seem to ramp it 24/7 and it can be very annoying and they seem to really hate @PeterSchiff which is unfortunate because he is only trying to help them diversify. Quote Link to comment Share on other sites More sharing options...
goldbug9999 Posted May 17, 2020 Share Posted May 17, 2020 (edited) 3 hours ago, Warlord said: they seem to really hate @PeterSchiff which is unfortunate because he is only trying to help them diversify. Schiff runs a gold business so its not like hes some objective or altruistic commentator trying to help people. His arguments against bitcoin are complete ******** and either he knows they are ******** and is being dishonest or he is stupid (and I don't think he is stupid). His key argument is that bitcoin is not backed by anything, well gold is 95% speculative in value so its effectively 95% non backed. The whole idea of speculative investments such as gold and bitcoin is that they have value by mutual faith of the market participants not value by decree (i.e. fiat) or value by utility. I actually like Schiff and respect his opinions on quite a range of stuff but when it comes to bitcoin he simply cant see past his own vested interest. Edited May 17, 2020 by goldbug9999 Quote Link to comment Share on other sites More sharing options...
Warlord Posted May 17, 2020 Share Posted May 17, 2020 1 minute ago, goldbug9999 said: Schiff runs a gold business so its not like hes some objective or altruistic commentator trying to help people. His arguments against bitcoin are complete ******** and either he knows they are ******** and is being dishonest or he is stupid (and I don't think he is stupid). His key argument is that bitcoin is not backed by anything, well gold is 95% speculative in value so is effectively 95% non backed. He actually believes BTC is a scam. I'm not of that opinion though I do enjoy his commentary on gold because he is a top professional, fund manager, speaker, author etc. who has a good track record. I dont think he's doing it to p1ss people off he does actually believe what he says from watching his podcats he is sincere in his beliefs Quote Link to comment Share on other sites More sharing options...
Lovely Rum Posted May 17, 2020 Share Posted May 17, 2020 looking like its going to break $10,000 in the next few hours... Quote Link to comment Share on other sites More sharing options...
Huggy Posted May 17, 2020 Share Posted May 17, 2020 1 hour ago, Lovely Rum said: looking like its going to break $10,000 in the next few hours... Thought I had dropped into the gold thread and had missed the greatest piece of news ever! I was thinking of topping up my bag of sovereigns so might get to that tomorrow, just in case ? As for Bitcoin, my immediate sell signals are set for £100k right now where I would hoep to get shot of a couple of them. That should give my house purchase fund a bit of a boost (a few years of a boost actually) while COVID and any short term negative blips of Brexit work their way through the system. I am very, very excited about the next few years! Quote Link to comment Share on other sites More sharing options...
longgone Posted May 18, 2020 Share Posted May 18, 2020 On 16/05/2020 at 21:03, MonsieurCopperCrutch said: The trouble with you salty dog nocoiners is that you fail to understand the full potential of crypto and you believe you have to be in one currency or the other. To you it's just black and white. But crypto is just getting started, the fintech genie is now out of the bottle, so to speak. Technology revolutionised everything from the printing press to the media landscape, and now the bankster filth are within reach. Ergo, I now hodl substantial assets in many currencies, not just crypto-currencies. After I first read the Bitcoin whitepaper back in 2013 I had bought my first Bitcoin within the day by wiring my money to Germany. Now every crypto I own is in a secure offline cold storage as a hedge against my other wealth. Now if I do not need to sell, let alone want to sell, what makes you think I should? got bored of the brexit thread LOL i`m sure you hold many BS coins Quote Link to comment Share on other sites More sharing options...
MonsieurCopperCrutch Posted May 18, 2020 Share Posted May 18, 2020 50 minutes ago, longgone said: got bored of the brexit thread LOL i`m sure you hold many BS coins Stay salty. Let’s catch up at $25,000. Quote Link to comment Share on other sites More sharing options...
markyh Posted May 18, 2020 Share Posted May 18, 2020 On 16/05/2020 at 15:36, longgone said: 1.5 eth ? don`t quote me but surely the run from fiat would oh happened by now ? if crypto was going up it would have done so by now. Um, it has, did you miss it? Bitcoin went from $0.10 to $10000 in under 11 years! Plenty more to come in the next 18+ months. Quote Link to comment Share on other sites More sharing options...
markyh Posted May 18, 2020 Share Posted May 18, 2020 On 16/05/2020 at 18:18, Warlord said: The big shots will not touch bitcoin the one fund manager who spoke about it said only put 1% of your assets into it. .. 1%! Most experts suggest 10-15% of assets in gold. Explained this on the gold thread. Gold won’t 100x, maybe 10x if you are really lucky. Bitcoin could easily 100x over the next 8-10 years. Quote Link to comment Share on other sites More sharing options...
Warlord Posted May 18, 2020 Share Posted May 18, 2020 (edited) 2 minutes ago, markyh said: Explained this on the gold thread. Gold won’t 100x, maybe 10x if you are really lucky. Bitcoin could easily 100x over the next 8-10 years. Marky, it could also halve in value like it has over the last few years. Was 20k wasn't it ? Edited May 18, 2020 by Warlord Quote Link to comment Share on other sites More sharing options...
doomed Posted May 18, 2020 Share Posted May 18, 2020 20 hours ago, MonsieurCopperCrutch said: As I said above, Layer 2. What layer 2? Quote Link to comment Share on other sites More sharing options...
markyh Posted May 18, 2020 Share Posted May 18, 2020 6 minutes ago, Warlord said: Marky, it could also halve in value like it has over the last few years. Was 20k wasn't it ? I can’t be bothered to find the chart but it’s something like 13 weeks between 2017 and 2019 that if you bought you would be losing money, $20k top lasted 1 week Mid December 2017, very few buyers then in numbers of holders. Something like 90%+ of Bitcoin holders are in profit from 2009 to now. That’s a pretty amazing track record. Not one penny of Crypto i own is not on big profits, % wise or ££££ wise, and I bought some BTC at $6k in 2018. Quote Link to comment Share on other sites More sharing options...
Warlord Posted May 18, 2020 Share Posted May 18, 2020 36 minutes ago, markyh said: I can’t be bothered to find the chart but it’s something like 13 weeks between 2017 and 2019 that if you bought you would be losing money, @PeterSchiff reckons Bitcoin will hit $3000 before Gold does So that is another view. You can't assume its going to go up forever. Quote Link to comment Share on other sites More sharing options...
scottbeard Posted May 18, 2020 Share Posted May 18, 2020 2 hours ago, Warlord said: @PeterSchiff reckons Bitcoin will hit $3000 before Gold does So that is another view. You can't assume its going to go up forever. But there are not two outcomes (1) it goes up and up FOREVER, or (2) it hits $3,000 before Gold does. The only important points for any investment are what you buy it at and what you sell it at. What it does before that or beyond that are irrelevant. Peter Schiff could well be right - that Bitcoin hits $3,000 before Gold does. But in the meantime Bitcoin could have got to $100,000 and some tidy profits could be made. None of us knows for sure what will happen, so with investments you have to form a conviction and stick to it. Only history will give the right answer, and even then many people will end up with the right decision made for all the wrong reasons. Quote Link to comment Share on other sites More sharing options...
Warlord Posted May 18, 2020 Share Posted May 18, 2020 (edited) 6 minutes ago, scottbeard said: But there are not two outcomes (1) it goes up and up FOREVER, or (2) it hits $3,000 before Gold does. The only important points for any investment are what you buy it at and what you sell it at. What it does before that or beyond that are irrelevant. Peter Schiff could well be right - that Bitcoin hits $3,000 before Gold does. But in the meantime Bitcoin could have got to $100,000 and some tidy profits could be made. None of us knows for sure what will happen, so with investments you have to form a conviction and stick to it. Only history will give the right answer, and even then many people will end up with the right decision made for all the wrong reasons. I just can't see it going to 100k. I might be missing the opportunity of a life time but it wouldn't be the first time (another story). It is highly speculative and I can't get involved seriously at these prices whereas with gold I feel comfortable investing in it as a store of value. Maybe I will invest a few hundred in BTC but not anything significant and If I feel that way then surely professional investors, fund managers, analysts, brokers etc. will also feel that way. Edited May 18, 2020 by Warlord Quote Link to comment Share on other sites More sharing options...
markyh Posted May 18, 2020 Share Posted May 18, 2020 2 hours ago, Warlord said: @PeterSchiff reckons Bitcoin will hit $3000 before Gold does So that is another view. You can't assume its going to go up forever. I will take that bet. How much. I will even take the bet Bitcoin will hit $30k before Gold hits $3k. Quote Link to comment Share on other sites More sharing options...
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