BITCOIN as an alternative to regular currency

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jamesg46
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Kai wrote:
Sat Apr 17, 2021 11:10 am
Zenyatta wrote:
Sat Apr 17, 2021 5:55 am
There's absolutely no rationality to any of this.
People love memes and it's cheap enough to buy.

Image
Maybe a lot of truth to that. Most people don't read anything that doesn't fit into a meme or watch (as Derek pointed out) anything longer than 5 mins. The world is powered by memes & TikTok. Meme it.
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Kai
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No real need to type out a paragraph or an essay to explain how you feel, when a simple image or gif will suffice and do a better job anyway. Emojis are very basic and contain no subcontext.

Very efficient in today's world of a 1000 distractions, the extra fun factor is just the cherry on top.
Targarien
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I think we should start investing in other cryptocurrencies, which have recently tended to grow in price and reach a reasonably high level. Bitcoin has already become a currency which value will not decline in price so much, but, on the contrary, it will already grow. I read on the https://cryptoinformator.com/crypto-signals that Ethereum is now a currency that will increase unreasonably. Another cryptocurrency with exponentially large will be XRP, which is still growing these weeks as a percentage a lot. These cryptocurrencies, which I had enumerated, are the alternatives for Bitcoin. It is necessary to analyze the cryptocurrency exchange at another level. We have the opportunity since this is the future.
Last edited by Targarien on Sun Apr 18, 2021 12:12 pm, edited 1 time in total.
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alexmr2
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Yep it's crazy what people put their money into. Another market which has blew up in the last year is collectible cards like sports cards and games like Magic The Gathering/Pokemon. I had bought a lot of cards/sealed products from my childhood a few years ago and the prices went crazy in 2020, so some were up by up to something like 2000%. It was mainly fueled by the lockdown boredom, Youtuber hype and social media flex culture.

I think the idea is that millenials aren't as interested in paintings or vases as previous generations, so a large sector of the art market has been taken over. Now you get people paying crazy prices to buy back memories from their childhood. It's quite a universal cycle that people will pay for the nostalgic value of certain things depending on what they grew up with when they reach mid-life crisis age.

There's a good Youtube called Alpha Investments where he talks about the fundamentals of buying sealed products for popular hobbies and how the price increases over time providing that they remain in demand years after they are out of print.

I can see favourite football players like Messi in graded sports card form being a good investment. One of the most notable cards just now is the Mickey Mantle rookie card which recently sold for $5.2 million https://www.latimes.com/sports/story/20 ... ecord-sale
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Naffman
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Big sell spike on BTC this morning
Anbell
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gazuty
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Location: Green land :)

“ Dogecoin, a token created as a joke and which has been boosted by the likes of Elon Musk and Mark Cuban, rallied more than 110 per cent on Friday before dropping the next day.”

Central banks have “printed”/ qe-d so much money ...

Can productive output rise to create the wealth to justify it all or does it all end in tears of inflation, clearly we’ve had massive asset price inflation but where does it go next?
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alexmr2
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Sometimes it shows its face on Betfair
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Naffman
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Just look at #dogecoin on twitter and you'll see it's almost a complete replica of Football Index, full of 20-30yo's shitting themselves but are in too deep so are imploring everyone to hold.
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Euler
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Speculation is absolutely rampant at the moment. Not sure I have ever seen so much.

I'd imagine a lot of these people would never have witnessed what a drawdown is like. I've always learned to sell into strength and buy on weakness as it plays into that wonderful piece of reverse psychology and the inability of people to act rationally.

It's interesting to see people framing it as some sort of them against us, when in fact. It's the market. If advisors told people to pile in at the wrong moment there would be hell to pay, but in this current age, it seems trendy for people to bid up assets for the hell of it.
Anbell
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Euler wrote:
Fri Apr 23, 2021 10:18 am
Speculation is absolutely rampant at the moment. Not sure I have ever seen so much.

I'd imagine a lot of these people would never have witnessed what a drawdown is like. I've always learned to sell into strength and buy on weakness as it plays into that wonderful piece of reverse psychology and the inability of people to act rationally.

It's interesting to see people framing it as some sort of them against us, when in fact. It's the market. If advisors told people to pile in at the wrong moment there would be hell to pay, but in this current age, it seems trendy for people to bid up assets for the hell of it.
At least in the dotcom bubble in the nineties it was just pure greed/speculation/hope/hype. This latest nonsense is something else.

Matt Levine at Bloomberg is a pretty good read on all of this.
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alexmr2
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Apparently the fall in cryptocurrencies over the last couple of days came from Biden announcing plans for an increase in capital gains tax in the US.

The last year has been so bullish in all sorts of markets that I imagine a lot of inexperienced people will lose serious money and even the long term investors may have to hold for a long time to come back from some of the drawdowns.

My view of crypto is that there's some potential to diversify an investment portfolio with high risk high reward. I heard that many hedge funds decided that there's more risk if they don't own any in their portfolio at all so they pumped something like 1% into crypto some time last year.

Personally I wouldn't try and daytrade any of these markets, but for a long term investment I'm happy to leave 1% of my total capital on it for at least a few years. I'm sure losing 1% of your money doesn't feel as bad as knowing that 1% could have seen a 10x or 100x gain, at least for those that understand risk:reward.

Dogecoin had the most appealing fundamentals to me. It may not make much sense but when have humans ever been rational?
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Euler
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Crypto Exchange Founder Disappears with $2 Billion

https://www.tomshardware.com/news/turki ... illion-usd
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ShaunWhite
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Euler wrote:
Sat Apr 24, 2021 5:50 pm
Crypto Exchange Founder Disappears with $2 Billion

https://www.tomshardware.com/news/turki ... illion-usd
Well that's a suprise. There's nobody easier to dupe than a bunch of get-rich-quick mugs :lol:
Meanwhile my boring old-fashioned folding money is safe as houses.
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ShaunWhite
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alexmr2 wrote:
Fri Apr 23, 2021 8:28 pm
I'm sure losing 1% of your money doesn't feel as bad as knowing that 1% could have seen a 10x or 100x gain, at least for those that understand risk:reward.
I backed a 1000/1 horse today, I'd rather lose £1 then face missing out on £1000. Surely anyone who understands risk can see that was a good idea :roll:
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