Bitcoin ?!

Bitcoin is going crazy. over 23.500$
Experts say it may go up to 200.000$ and even more.
would you invest in bitcoin?
i really think i should have when it was at 5k now its a bit risky but it looks like it going to go to 50k-60k in the year 2021
what do you say?

It's a crazy thing to invest a lot of money into, it's as likely to crash as it is to rise.
I did invest in Ethereum a few years ago and got lucky, my investment doubled, then I pulled out before the price crashed.
Honestly you'd be better off buying Tesla shares than Bitcoin right now*


(*I am in no way a financial advisor and my advice is only what I read on Reddit, making me not liable in any way for any money lost based on using my advice.)

Now I don't remember exactly but 3 years ago my uncle hit himself on the head because he had the opportunity to buy (or at least receive) a certain number of bitcoins which later would have made him "earn" millions of euros!

However the value of the bitcoins is extremely variable and the scams are daily.


[Later this uncle of mine behaved very badly with me, so now that his "loss" makes me happy ? ]

We'll, it's like the old advice; only invest what you can afford to lose.

Sandman said:

We'll, it's like the old advice; only invest what you can afford to lose.

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ok, so that would be 2$ ?

ilan said:

Experts say it may go up to 200.000$ and even more.

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And the credibility of these 'experts' is backed up by what? They are rampers more likely, trying to manipulate a very dubious market to their own benefit.

I think Bitcoin (at least in its current form) is unsustainable, from an informative white paper:

Howson believes that blockchain is not sustainable (at least at the moment), Vranken believes otherwise (Howson, 2019;Vranken, 2017).

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As bitcoin continues to grow, and the blockchains get longer the computational power required keeps increasing (here's an interesting study estimate: Cambridge Bitcoin Electricity Consumption Index (CBECI) ). Having said that; if they don't figure out a way to "transfer" the current model to a more sustainable one I would not want to be an "investor".

andymc said:

better off buying Tesla shares than Bitcoin right now*

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Only for the short term ....Hydrogen is coming.

LucaMs said:

However the value of the bitcoins is extremely variable and the scams are daily.

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Now, you see, That's why I invested in Bitcoin4X

Bitcoin is a surveillance coin. No business is going to use it for transactions. Tesla wouldn't want Ford knowing what they were buying, from whom, etc.

Businesses will migrate to a privacy coin, and the only game in town there is Monero (XMR).

Many real companies are now investing in bitcoin, that is the reason of increase in the last months. I personally think it is safe to invest technically. I invested some when it was 3000 usd and I am quite happy with it.

tufanv said:

Many real companies are now investing in bitcoin, that is the reason of increase in the last months. I personally think it is safe to invest technically. I invested some when it was 3000 usd and I am quite happy with it.

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you still have bitcoins?

Yes, still holding since 2017, not much but happy to bought some

I would not buy Bitcoin at this price because at 23.5k it is overbought and is due for a correction of around 30% to 40%, perhaps back to its 20 week MA at 13.9k. Hedge funds are buying it up right now and by buying the dips they are preventing the price from correcting. Bitcoin has risen from 3.85k in March to a high of 24.4k this month which is 633%. Some of the alt coins have done far better than that (more than 2000%).

A realistic price for Bitcoin in 3 years is $150k and is steadily progressing to that value. Why do we need Bitcoin? Because our purchasing power from fiat currencies will be destroyed from hyperinflation by overprinting. The pandemic has accelerated the printing of fiat to bail out the billion dollar corporations and to throw a few crumbs to the people who were laid off when businesses were locked down. Most of the businesses that have been locked down will go bankrupt, and will never re-open. Multi-generational wealth of these mom & pop businesses will be destroyed. Governments will have to put people on Guaranteed Basic Income (GBI) in order to keep them afloat because the jobs from small businesses will be gone. This will be fine for the first 6 to 12 months but all of this money printing will cause high inflation, and eventually hyperinflation.

Major banks may go under or will have to be bailed out, or bailed in because of the tsunami of bankruptcies headed their way. Bank loans are leveraged at least 10:1, and in some countries they are leveraged 24:1 or even 32:1. This means for every $1 banks have on reserve, they have anywhere from $10 to $32 out on loan. If 3% to 10% of their loans go bad, the bank becomes insolvent. They either go under or the government has to bail them out with taxpayers' money. But Europe, Australia, New Zealand, Canada and the U.S. implemented Bank Bail-in law in 2012/2013 where the bank now has the legal authority to seize customer assets (money in their personal savings, checking etc. including businesses account) should the bank become insolvent, and issue (worthless) bank stock to the depositor as compensation. This is what happened in Cyprus a few years ago where depositors lost around 44% of their money. Bond holders also took a haircut. To try and stop this from occurring in the U.S. the Federal Reserve recently lifted the 10% reserve requirement that banks had to have and have now set their reserve requirements to 0. That means the bank loans don't have to be backed by anything. To make matters worse the FDIC (Federal Deposit Insurance Corp) has only around 1.5% cash ($45 billion) to insure the depositors $10 trillion. But it won't really matter because Wall Street got FDIC to insure $70 trillion derivative portfolio and Wall Street will get paid first before anyone else. If you expect the FDIC to pay you during a widespread banking failure, then you will be waiting quite a while. If you have a lot of money in banks, well, you've been warned.

In the next 2-5 years we are headed into a worldwide depression worse than the 1930's. During the next financial collapse I expect gold and silver to rise at least 10x, and Bitcoin 100x. If you want to know why Bitcoin is important, I suggest reading the book "The Bitcoin Standard".
The Bitcoin Standard

ilan said:

Bitcoin is going crazy. over 23.500$
Experts say it may go up to 200.000$ and even more.
would you invest in bitcoin?
i really think i should have when it was at 5k now its a bit risky but it looks like it going to go to 50k-60k in the year 2021
what do you say?

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Absolutely do not invest in Cryptocurrency. I am an 'expert' on the other spectrum who witnesses all the regulatory issues, cyber scams and price manipulation.

I am still waiting for someone to explain the difference between Bitcoin and Tulip Bulbs.?
edit:
For those who don't know the reference,
https://en.wikipedia.org/wiki/Tulip_mania

hmmm... ok this thread was created 1 week ago when bitcoin price was around 23.000$

today the price is:



i am so glad i bought 10 bitcoins (virtually). ?

let us say I have some cents and I want to sell part of them to get my initial investment back, where would be the best place to sell?
Is it easy to sell? I guess those buying will use a less favorable (for me) "exchange rate".

Diceman said:

...

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? ??

I mined bitcoins when they were worth nothing, I was one of the first miners, in those years it was common to give them away, for example: "Join my mailing list and I give you 5 bitcoin." I stored 1107 BTC. When I got tired of them, and thinking it was a "geek" thing and they would never be worth anything, I gave 625 BTC to a Dutch boy who asked me for them. I didn't care because they were worthless, nobody knew them, they were useless.
The rest of the BTC I stored on a CD-ROM that some time later (doing cleaning) I threw them into the plastic recycling container.
Now I pull my hair out and bang my head against the wall, but there is no solution, so I laugh at the missed opportunity.
I told my coworker this story and he bought 50 BTC when he cost 30 dollars, he still has it, and he is very happy, obviously: D

vecino said:

and bang my head against the wall

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i hope it is not made of cement. ?

vecino said:

The rest of the BTC I stored on a CD-ROM that some time later (doing cleaning) I threw them into the plastic recycling container

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