Amazon is apparently going to be accepting it as payment that’s why the price jumped so much the past 12hrs

Are cryptocurrencies that popular nowadays? I mean, I've heard about them, but now that even my friend started trading cryptocurrencies, I find it really weird. He even wanted me to try the Bitcoin Era app that he used, but it feels like an outworld for me. I'm probably missing a lot, but maybe one day I'll decide to try it.

Anonymous wrote:Think about it this way, you could buy $100K of Bitcoin hold it long term and then retire to someplace abroad with no capital gains taxes and withdraw it all.

Totally false

Anonymous wrote:Think about it this way, you could buy $100K of Bitcoin hold it long term and then retire to someplace abroad with no capital gains taxes and withdraw it all.

Unless it gets stolen by North Korean hackers or your thumb drive gets confiscated on your way abroad.

Think about it this way, you could buy $100K of Bitcoin hold it long term and then retire to someplace abroad with no capital gains taxes and withdraw it all.

Anonymous wrote:bitcoin value is in the scarcity value and transportability value. hard to flee to another country with 50 oz of gold bars. the supply of btc is fixed (scarce). there are arguments for and against bitcoin. unlike gold, bitcoin has no actual use case as a commodity (cannot be made into jewelry or electronic components). whether or not bitcoin will prevail as the most efficient blockchain technology in the future remains to be seen. Decentralized finance via blockchain would be a progressive step for human economics - whether central banks allow this to happen is a whole other question

Ah yes "Our cyber money is valuable because you can flee the country with it." Very compelling.

Also, decentralized finance is a destructive fantasy. I'm sure you think those mean ol' central banks manipulate finance too much, but do you really think cryptocurrency exchanges, the incredible concentration of bitcoin ownership in a tiny number of owners, and the extreme volatility of the asset won't lend itself to manipulation? Even if you did cut central banks out of the process (which you won't, because regulators gonna regulate), you're just swapping in another set of power players with even less constraints than government. DeFi is even more destructive if it means tax evasion, not to mention the heavy environmental cost of cryptocurrency mining and use. I don't see this as "progressive" for human economics at all! It's just a new way for a small number of rich people to get richer selling you a bunch of numbers and narrative that you're somehow resisting the establishment.

Why is btc so strongly correlated to the market performance then

Anonymous wrote:

Anonymous wrote:Can someone explain bitcoin like I am a 5th grader? It seems like it is conjured currency, like a US dollar or the Japanese Yen, but there is no government backing up its value, so the value is whatever main street says it is?

BTC is hedge against inflation.

There is no evidence to support this.

I bought a $5k of bitcoin and maybe $2k ethereum. That's it. I bought it just as a speculative investment. And that's all bitcoin is good for except crime.

Here's something worth knowing: "Less than 2% of the anonymous ownership accounts that can be tracked on Bitcoin’s blockchain control 95% of the digital asset."

https://www.bloomberg.com/news/articles/2021-02-27/coinbase-mafia-shows-how-tight-a-circle-holds-sway-over-bitcoin

If you are invested in index funds it is likely that you also have money in Bitcoin, etc. Some companies are now investing in Bitcoin as a hedge against currencies that have inflation.

They are not gambling and going all in. It is a just another part of their portfolio in a very high risk category.

The Chinese are also investing in bitcoin, since their stock market is basically gambling, and real estate is so overvalued. But remember, a correction in Bitcoin can be 50% unlike the 10% we see in the US stock market. It is also very easy to manipulate the price since so much of BTC is owned by a very small number of individuals.

Many 3rd world countries use BTC as a hedge against the devaluation of their own national currencies. Recall an article last summer, before the current crypto market run up, that $300 million worth of BTC had transferred through Africa in June last year alone.

Anonymous wrote:Bitcoin will stay here for a while. I don't get why there is a huge majority of people that are saying that Bitcoin will fall. Nobody knew that it will reach these kinds of highs in such a short time. Maybe they envy others, who were able to get rich out of this. I am pretty new to this domain and I am fortunate enough to have a friend who is into this kind of stuff. He has told me about https://bitscalp.io/ and I am thinking about giving it a try. After all, I have nothing to lose. I have a couple of dollars saved for these kinds of investments and I am really curious if I will be able to make some money

I wish someone else could send me his opinion

Bitcoin will stay here for a while. I don't get why there is a huge majority of people that are saying that Bitcoin will fall. Nobody knew that it will reach these kinds of highs in such a short time. Maybe they envy others, who were able to get rich out of this. I am pretty new to this domain and I am fortunate enough to have a friend who is into this kind of stuff. He has told me about https://bitscalp.io/ and I am thinking about giving it a try. After all, I have nothing to lose. I have a couple of dollars saved for these kinds of investments and I am really curious if I will be able to make some money

I don't get it. It seems like vapor It makes me nervous to think people are buying it.

Bitcoin is here to stay.