Bitcoin - a decentralised digital currency

[Janx Spirit 8,691]

"Tesla And Bitcoin Have More In Common Than You Think"

 

Quote

At first glance, Tesla TSLA and Bitcoin may appear to be completely different technologies with distinct users, use cases, and investors. Tesla is the amalgamation of car manufacturing, alternative energy, computer software, and artificial intelligence. The company plans on combining these disciplines to launch a fleet of autonomous robotaxis in the not too distant future. Bitcoin is a decentralized asset promising to reboot the global financial and monetary system.

 

In short, Tesla is revolutionizing transportation and energy, whilst Bitcoin is revolutionizing money and finance. Tesla has an enigmatic, polarizing, charismatic leader in Elon Musk who is often prone to gaffs. However, Bitcoin derives much of its value from having no leading figure or central point of failure.  

 

Despite these obvious differences, the two assets have been amongst the best performing assets this year, often moving together in lockstep. At time of writing, Tesla has appreciated 72% and Bitcoin 23% year-to-date, compared to a decline of 13% for the S&P 500 year-to-date.

 

Forbes

[yesterday 1,253]

Bitcoin hits all-time high rising above $20,000

 

The volatile virtual currency has gained more than 170% this year amid stock market turmoil.

 

 

[TurMech 148]

What is the best platform to buy and sell crypto currencies in Germany?

[Editor Bob 3,356]

Kraken.com

[DanglingPointer 12]

Since I have always missed the bitcoin train. Last week when it was around 20k I was trying to buy but couldn't set up Kraken and missed again. Now its over 30k

 

Does anyone invest in other alt currencies like Litecoin, Ripple, Ethereum or Polkadot?

 

30k+ is now I think too high and doesn't make sense to join, though I could be wrong and it could still reach 50k by summer

[MikeMelga 5,950]

My personal prediction is that the Bitcoin bubble will burst at some point. It has no technical advantage over more recent crypto currencies and it is basically a way for criminals to make anonymous transactions. If you want to use it as an speculative investment opportunity, wait for it to drop.

 

I was thinking Bitcoin would have a broad ban due to government control soon, but I think it will come down much faster due to pollution.

It makes no sense for Biden or EU to push for a greener economy while at the same time allowing such a ecological disaster to keep going, just to support criminal anonymous operations.

https://www.treehugger.com/ban-bitcoin-5094352

 

It only takes a comment from an EU or US official on a Bitcoin ban to completely tank it.

[Acton 805]

2 minutes ago, MikeMelga said:

My personal prediction is that the Bitcoin bubble will burst at some point. It has no technical advantage over more recent crypto currencies and it is basically a way for criminals to make anonymous transactions. If you want to use it as an speculative investment opportunity, wait for it to drop.

You know Mike, as an ex-banker, I would never have advised any customer to invest in this. It has no worth other than people's desire to have it. As such, it's really the same speculative investment as Japanese yen, or Mexican pesos etc for those who are looking for short-term gains in currency movements. Foreign exchange dealers do this every day with no justification other than to make a profit on their day's trading. Believe me, I was one of them for a short time.

I am also from the old school which believes, 'What goes up, must come down' and "Money doesn't grow on trees',

In the case of this cryptocurrency boom, it seems that these old adages have gone out of the window and there is no other direction than 'UP'. I decided last week to put a foot in the door and invested some money in Bitcoin and a couple of other exotic things. I wouldn't put all my money in them, but not to do so at this point is looking a gift horse in the mouth. I watch it every day, and if it looks like crashing, I'll tell Coinbase to liquidate my investments which I can do instantly..

 

 

[silty1 3,044]

4 hours ago, MikeMelga said:

If you want to use it as an speculative investment opportunity, wait for it to drop.

 

Sure, but how far, and how much do you gamble? (Let's not call it investing.)

 

Seen it so often before.  Gold and silver in late `79, early 1980.  The 1987 crash of the Dow, the dotcom boom and bust in 1999 - 2001 where people were buying into FlashCandy startups as if 70 bucks a share was cheap for a company with just a name and a registration number.  And now cryptos, a great idea whose time might never come, but always seems to be worth throwing money at. And it always seemed to be just a few weeks before the top when you started to see the new record highs splashed on the cover of magazines and front pages of newspapers. 

 

Good luck to you all, especially if you're borrowing to dive in. 

 

 

 

 

[fraufruit 35,744]

Who the hell borrows to make investments? I've never heard of that other than people going into their margins on their portfolios. I've never done that.

 

So do you have to buy a whole Bitcoin or can you buy in increments like with stocks? In that case, one could just invest 5k or so. Same return.

[silty1 3,044]

8 minutes ago, fraufruit said:

Who the hell borrows to make investments? I've never heard of that other than people going into their margins on their portfolios. I've never done that.

 

Well, if you take out a mortgage to buy property, you definitely borrow to make an investment.  And it might not be your thing, but buying stock on margin is pretty common. 

[fraufruit 35,744]

That's apples and oranges. You get to live in the property and having a roof over your head is never free. Or rent it out.

 

If you borrow to invest, you can lose on the investment and on the mortgage interest. 

 

I know that many buy stocks on margins. That's why, when there is a crash or even mini-crash, people have to sell to cover their margins which makes the market fall even more. I just don't believe in it personally. My broker once told me that as many people are deep into their margins as there are people with credit card debt.

 

OK. Back to Bitcoin. Can one buy it in increments?

[silty1 3,044]

I wasn't advocating buying on margin, or borrowing to play the bitcoin market, far from it. 

 

As for buying bits of bitcoin, the price of 0.0051 bitcoins is currently $200 on bitcoin.com. Good luck to you if you jump in.

[krakp 152]

I think investing the borrowed money is the right approach... Or would you rather advocate consuming it? I think everyone that is smart invests the borrowed money so that they get a return higher than the interest rates. That's how entrepreneurship works... Very few people can afford to only invest their own money....

[fraufruit 35,744]

3 minutes ago, krakp said:

Very few people can afford to only invest their own money

 

I guess that depends on how much one wants to invest. 

[LukeSkywalker 6,316]

8 hours ago, DanglingPointer said:

Now its over 30k

Today, it already went through the $40k barrier. Please keep up :).

[Acton 805]

10 hours ago, LukeSkywalker said:

Today, it already went through the $40k barrier. Please keep up :).

€31,900 in fact, What barrier?

[MikeMelga 5,950]

12 hours ago, silty1 said:

 

Sure, but how far, and how much do you gamble? (Let's not call it investing.)

 

In the case of Bitcoin, nothing, for me there is no underlying business or richness, no valuable IP, nothing, it`s just a process for criminals to operate. It`s even immoral to buy it, you are basically perpetuating the biggest mechanism for worldwide crime, including paedophilia and terrorism. Not touching that shit.

[LukeSkywalker 6,316]

20 minutes ago, Acton said:

€31,900 in fact, What barrier?

It touched $40,000 yesterday evening and then dropped again.

[Acton 805]

2 hours ago, MikeMelga said:

In the case of Bitcoin, nothing, for me there is no underlying business or richness, no valuable IP, nothing, it`s just a process for criminals to operate. It`s even immoral to buy it, you are basically perpetuating the biggest mechanism for worldwide crime, including paedophilia and terrorism. Not touching that shit.

Sorry, bur this sounds too much like conspiracy crapola. I have bought bitcoin and went through quite a thorough questionnaire from Coinbase about my identity and even had to upload a copy of my driver's licence to prove who I am. This doesn't happen when people open normal bank accounts.

[MikeMelga 5,950]

You can still have anonymous transactions. There lies the problem.