Bitcoin (BTC)


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from jp morgan global market strategy report. Love the beef between btc holders and non holders. You might still think wrongly that btc is nothing when you see it at 300k even 1m.

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My main reason for not buying Bitcoin is there doesn’t really seem to be any real way to value it, most people who buy it will buy it whatever the price just cus it’s increasing. Makes it feel very speculative to me

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It’s not about beef. Some of us giving critical views actually own some Bitcoin. But Crypto is a bit like a cult at times, and a bit “you’re with us or against us” for some reason.

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I agree. You can invest in Bitcoin (some people even say everyone should, but I don’t agree) you just have to understand that the risk is very high and that it could turn out to be a complete bubble (or not).
As long as you understand this, then go ahead :slight_smile:. Consider the point and hopefully no one will invest too much into it due to it, keep the percentage of your portfolio allocation low as it could implode at any point (or multiply).

Obviously this is not investment advice, just some points to consider.

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All investments boil down to “liquidity” and “trust”. If enough people “trust” an asset, it will attract “liquidity” for a variety of reasons (investment, speculation, etc.) and the price will go up. Everything else is just noise used to help build trust, etc.

Just remember, we all walk around giving each other bits of printed linen/plastic in exchange for goods and services, and it all only works because we all trust that it has value. Just stop and think about that for a moment.

If enough people start to trust Bitcoin, which the recent price moves would seem to indicate that they are, then it will attract liquidity, which It clearly is, and thus according to market forces then this is the current value of the asset. You may agree or disagree with the market valuation, but the market is just reflecting the current moves in liquidity. All that I would add to this is that it’s probably the most volatile asset that I watch, and due to it being unregulated, it does move in strange ways at times. Very much a case of “Buyer beware”.

It’s probably also worth remembering, all of our bank accounts are just a bunch of letters and numbers stored within the banks IT systems. However, as long at those systems work, we all just ignore them and decide to continue to trust the system. You might want to stop and think about that for a moment too.

Added to this, think about all of this again but from the perspective of a person living in Greece, Turkey, Brazil, Argentina, etc, whom within the last few years have all seen the value of their local currency lose significant value (buying power). If they had kept their money in Bitcoin or some other hard asset whilst their governments wrecked their currencies, they would have got through it all a lot more comfortably.

In these strange times, we shouldn’t be surprised if some new and potentially strange looking solutions start to come of age. Just wait until we all start seeing the CBDC’s, If you don’t like Bitcoin then these should wake you up a bit. lol.

Personally, I’m neutral about the wider crypto ecosystem. However, in the same way that I decide to trust currency, paper assets, gold, etc. I can accept that Bitcoin has value and a place within the overall investment universe.

Just like anything else, make up your own mind whether you want to trust Bitcoin, or any other asset for that matter, and then put your money where you are comfortable. We all have different looking portfolios and I’m not aware of these differences meaning that we are opening ourselves up for criticism, etc. It’s a big old global market and we shouldn’t be surprised to see people putting their money into things that we personally think are crazy. Maybe over time these things will be proven to be the bad investment that we thought, but equally, maybe these will prove to be great investments and it will just be us that didn’t understand them.

Just my own thoughts. DYOR, avoid the scams, and stay safe out there.

Matt

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CBDC’s have nothing to do with Bitcoin - why do people keep using these as a comparison or part of the case for Bitcoin?

I agree that Bitcoin and CBDC’s are/will be very different things. However, to the vast majority of people, they will look and feel like very similar, and they just hear “digital currency”. Ford and Tesla both make very different things, but most people just think of them as car companies.

Matt

When the world seemed normal Bitcoin was crazy, now the World seems crazy Bitcoin is normal.

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£14,500 today, doubled in 3 months, what will it be in another 3 months?

I think still bullish :smiley:

Bitcoin has a long way to go over the next 10 years. The capital inflows yet to enter are enormous.

I’m very bullish on it.

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I hope you bought a lot of bitcoins at that point :smiley:

Date for new ath? This week?

Oh go on then: Tomorrow morning before we wake

I’m very bullish on the wider crypto ecosystem, there are some amazing use cases. However I see it as similar to the early days of the internet. There were many great internet businesses with what these days would be viable business models, but they were a bit ahead of the curve and did not sustain themselves well enough to come out the other side after the bubble popped. Many of these crypto projects have good use cases and if they gained traction/adoption would be successful. Some are trying to enact large system changes and some industries are very slow to adopt innovation.

I feel they need to wait for crypto to really be more mainstream before people start to experiment more and the underlying infrastructure (private keys storage for example) need to develop further. Many will run out of cash before then.

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I play around with a little bit of bitcoin but purely because of FOMO. I looked into crypto quite a bit a few years ago but the more I tried to use it, the more I discovered how useless it currently is. There’s no doubt that crypto currencies will be the future but I’m not sure it’ll be bitcoin.

I hear or read so many articles and opinions stating itll reach this price and that price. You’ll regret not buying anyone when its 100k, 250k…1m! Its going to halve its mining rate every 4 years so its harder to get hold of…and so on. But I keep asking my self the same questions…
Whats driving thr price? Forgetting about FOMO, what exactly is the reason for the increased price? It does its halving thing and becomes harder to get. Cool. Why do I need to get it? Atleast with gold it has uses…

After its mined, and worth $X, what now? Having transfer bitcoin from one wallet to another, and waiting around 8 hours for it to actually do so, I’m fairly confident it won’t be used as a currency. So now what? That’s like holding shares in AOL because the Internet is going to be huge. Its was shite. It led the way but soon fell away for others to shine.

But, i still dabble just in case!

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After recently trying a few exchanges and wallets I realised again how user unfriendly Bitcoin is. I can’t see real mass adoption any time soon as for the masses it’s really quite complex as it stands.

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I’d consider this an advantage if you can figure out how to buy and store Bitcoin. It means we’re still very early in its evolution (and price)

Yeah that’s not necessarily a good thing. If it’s still so user unfriendly then it could turn out like pgp and will never be adopted