Reply to If you have more than a million in investments, have you purchased BITCOIN in any form? if so how much?

Forum Index » Money and Finances

Reply to "If you have more than a million in investments, have you purchased BITCOIN in any form? if so how much?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I’m actually glad to see so many against bitcoin. This forum is probably reflective of the sentiment of a lot of “DC urban moms and dads” who haven’t caught on that Bitcoin is the part of the future of finance. You’re a good sample set of a subsection of America’s public. Your hesitancy shows we have a way to go. Prices have not yet begun to reach their zenith. I’m going to keep buying bitcoin. Even through the impending crash or pullback. Thanks, all.[/quote]

OP here - yes, the replies here suggest how early we are. [b]Financially sophisticated people still have virtually no understanding of it[/b]. Any rational long term investor should have at least some allocation. Risky sure but Upside potential too immense [/quote]

My husband manages a hedge fund and we own zero bit coin. But I'm sure you are much more financially sophisticated than him. He has never thought of crowd sourcing financial advice from DCUM, so that's obviously shows how little he knows about the stock market and the economy.[/quote]

Don't waste your time arguing with crypto clowns. It's like talking to someone who watches Fox News. You quickly see a trend, and the trend is zero substance.[/quote]

Why the snottiness? Bitcoin is now worth $2 trillion. Anyone who has invested in it before a few weeks ago has either made good money or tremendous money. You would think it might make sense to do more listening and less lecturing. An asset that has grown from zero to $2 trillion in 15 years with millions of owners globally - pretty dumb to just dismiss it as nonsense no?[/quote]

It is precisely why I am apprehensive about it.  What exactly made it go from 0 to 2 trillion?  What was it other than hype and mutual decision of some people that it represents monetary value?  All that is needed is for the token to be mutually agreed on as holding "value" and then those holding or "mining" it would become richer and richer as bottom feeders are feeling FOMO (which is like MLM scheme).  It's a weird asset class if you think of it.  It was conceived as "currency" and touted as digital gold.  But it behaves as a volatile stock.

What is its future? If it becomes currency then there needs to be liquidity, holding it and not having enough sales volume will hamper it from becoming currency.  Another token will be needed to use as "money" backed up by Bitcoin, just like USD was once backed up by Gold. If it continues being a speculative asset at some point it will reach the limit of its growth and its growth is propelled by nothing but belief that it's new "digital" Gold. 
[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics