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No you are.You are wrong.
No you are.You are wrong.
Multiple cryptos available with BTC being the primary onramp and Ethereum the computer for a lot of the transactions. Stablecoins can fly and are pegged to the dollar and backed dollar to dollar. USDC for example backed by Circle run in the Stellar ecosystem.Can somebody explain to me how BTC is supposed to be a currency of the future but also a growth asset? If its inherent value is in being used for transactions but everybody is holding onto it because of it's increasing value compared to USD, where does its utility lie?
No you are.
The expense ratio on GBTC is like 2%. They would've been better off just buying coins on one of the big exchanges.Israeli Pension Giant Put $100M Into Grayscale Bitcoin Trust: Report
Altshuler Shaham made the investment in GBTC in the second half of last year, when bitcoin was trading at around $21,000.www.coindesk.com
The expense ratio on GBTC is like 2%. They would've been better off just buying coins on one of the big exchanges.
My guess is custody solutions is why they use GBTC. The floodgates will open once an ETF is approved. Canada started a bitcoin ETF last month, and I think the US approves one sometime this year.
Why not make a nft of you pouring out a bottle of expensive wine or blowing up a classic car then selling it for more than the original item? We live in irrational exuberance where people are buying 'unique' jpeg/gifs that anyone can look at for free in the same way for awe inspiring amounts.Wine, classic cars, watches, baseball cards and NFTs?
Beeple NFT becomes most expensive ever sold at auction after fetching over $60 million
An NFT by the artist Beeple sold at Christie's for over $60 million, making it the most expensive NFT ever sold at auction.www.cnbc.com
You realize because of monetary policy of the Federal Reserve, the market price signals are distorted and we dont have an accurate of assessment of which corporation is thriving and which are the zombies? Good luck navigating through that minefield.I am very bearish on crypto. BTC and many other cryptocurrencies are assets that are extrinsic stores of value. Calling it a fancy new currency is a pretty damn big leap of logic. The whole basis of BTC valuation is that because it is scarce it has value. While scarcity is ONE variable that contribute to valuation, scarcity in of itself means nothing. There are plenty of things in this world that are scarce AND worthless. BTC can't really be used for anything other than speculation. It is only worth as much as someone thinks it is worth, and there is nothing fundamentally different about BTC when the first coin was mined and when the last one will be mined. Ultimately I consider BTC to be a example of mass delusion.
The same can be said of gold and other precious metals. While these metals have some intrinsic value (e.g., gold has industrial applications, and people like it because it looks shiny) it is also largely an extrinsic store of value. Same of diamonds and precious gems.
I would rather hold onto an asset that has both combination of extrinsic and intrinsic store of value. The more intrinsic value the better. And this exists. SP500 or Nasdaq ETFs for instance. It is a collection of stocks of various publicly traded companies that have regularly reported profit margins to justify value. If their profits fall or if their long term prospects look worse, the value decreases. Vice versa.
I don't hold any ETH, but I know there's an issue with transaction fees, there are other platforms working on solving that. But ETH has the most mind capital working on their platform (especially DeFi) so hopefully they work it out. I like to focus on Sound money within the space. New submarkets are forming within the space (NFTs, DeFi, etc), some will thrive others will flame out or become niche markets. Fun times ahead.Any thoughts on the price of ETH after this upgrade that's going to occur?
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Why not make a nft of you pouring out a bottle of expensive wine or blowing up a classic car then selling it for more than the original item? We live in irrational exuberance where people are buying 'unique' jpeg/gifs that anyone can look at for free in the same way for awe inspiring
would you skip going to The Louvre? its the same concept
You realize because of monetary policy of the Federal Reserve, the market price signals are distorted and we dont have an accurate of assessment of which corporation is thriving and which are the zombies? Good luck navigating through that minefield.
I could go on about why I'm right about Bitcoin, crypto and the digital revolution we are entering, but I'm not gonna change your mind. Since I started this thread last year, we've witness the early stages of corporate FOMO (Corporate BTC holdings), Crypto banking approved and started in Wyoming, The OCC allow banks to use public blockchains like BTC, for final settlement, Lots of legendary investors get into BTC (Paul Tudor Jones, Stanley Druckenmiller, et al), energy corporations looking at mining BTC using wasted and renewable energy to decrease the CO2 emissions. 12 years ago there were 0 BTC users, today there are at least 100 million. You think the number goes back to 0? Bitcoin is internet based money and we're entering a digital state. It makes so much sense to me.
Are u seriously arguing that index funds in the stock market is more volatile and more opaque than BTC?
Your whole angle here is that the US dollar is not pegged and can lose value when the feds print trillions of dollars, while BTC provide a safe haven from runaway inflation. There are plenty of other ways to hedge without putting it in BTC
Why not make a nft of you pouring out a bottle of expensive wine or blowing up a classic car then selling it for more than the original item? We live in irrational exuberance where people are buying 'unique' jpeg/gifs that anyone can look at for free in the same way for awe inspiring amounts.
I'm very bullish on ETH (and BTC), especially due to the network effect of developers and use cases that are being created via ETH. It will never replace BTC and it doesn't want to. BTC is the reserve currency and ETH is the transactional currency of the Ethereum blockchain, which will become the settlement layer of many different applications once the system scales. Right now, we have the boom of NFTs, which is settled primarily in ETH. We have a nascent industry of decentralized finance (DeFi), where permissionless, decentralized, lending and borrowing is occurring and has already over $40B in value transacting in it.Any thoughts on the price of ETH after this upgrade that's going to occur?
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I'm very bullish on ETH (and BTC), especially due to the network effect of developers and use cases that are being created via ETH. It will never replace BTC and it doesn't want to. BTC is the reserve currency and ETH is the transactional currency of the Ethereum blockchain, which will become the settlement layer of many different applications once the system scales. Right now, we have the boom of NFTs, which is settled primarily in ETH. We have a nascent industry of decentralized finance (DeFi), where permissionless, decentralized, lending and borrowing is occurring and has already over $40B in value transacting in it.
The future of cryptocurrency is multichain. Widespread adoption will also soon happen once people don't even realize what they're doing involves cryptocurrency/blockchain technology in the backend. I'm betting big that what's occurring right now is analogous to the personal computing/internet boom. Right now, we're in the command prompt phase where it's complicated and confusing. Only hobbyists currently know how to use it. The user experience design will catch up and so will you all.
Question for all the non-coiners in here. At what price of BTC will you determine that you’re just wrong?
I screwed up and put all my money into fungible tokens.i dont get why NFT is worth so much! everyones making NFTs
I screwed up and put all my money into fungible tokens.
Like BTC? That’s not a screwup!
i dont get why NFT is worth so much! everyones making NFTs
Maybe if it goes for a few years without its value fluctuating 20% or 50% or 1821912%, I'll agree it has a use as a store of value.Question for all the non-coiners in here. At what price of BTC will you determine that you’re just wrong?
If it ever becomes useful for something besides speculation and cocaine, it's not like people who don't BUY BUY BUY it now won't be allowed to participate in this new digital economy.
Do you get it now?
BTC used to live exclusively in the realm of nerds. Nowadays pension funds, university endowments, sovereign wealth funds and corporations are increasingly exposing themselves. They’re betting that it will continue to have value. Still speculative but the tide is turning. We are fast approaching a point of no return.
BTC used to live exclusively in the realm of nerds. Nowadays pension funds, university endowments, sovereign wealth funds and corporations are increasingly exposing themselves. They’re betting that it will continue to have value. Still speculative but the tide is turning. We are fast approaching a point of no return.
Pessimists sound smart...but optimists get rich
Cognitive dissonance and pride are a hell of a combo
People are investing in BTC. I have money in BTC no different than the big boys, just smaller amounts of course. Same for ETH. It's speculation pure and simple. Realize it's investing though. No one is using it as an actual currency like the believers feel BTC should be used (though they don't spend their money or their BTC as such). No one is using 60k of BTC to buy a Tesla, as intended, because no one knows what BTC will be worth next month much less next year or 10 years from now. The Tesla is a depreciating asset and everyone knows it. The BTC on the other hand, it's an investment not a currency.
You've convinced me. The geniuses that sit at those big tables never made a Billion $ mistake.
Or is it a matter of the people that make those decisions not risking their jobs by missing out? If bitcoin does go to the sky they will be at risk for missing a sea change in investing if they pass. If bitcoin goes to zero, they can say, "well we had lots of really smart people make the same call we did."st giving myIt’s a matter of getting a critical mass of buyin. We are approaching that point. If enough people agree it has value, then it has value.
Just curious, what percent of your net worth is in crypto? Not asking total $$ amounts. Just percentage. Also, if it keeps going up rapidly at what percentage or point would you lower your percentage allocation?
Congrats on your success so far. Don't forget to take chips off the table and diversify if/when your holdings represent multiple years of salary.50%. Don’t plan on lowering it. Spread across bitcoin, eth, Loom and Cardano. Look at graphs of loom and cardano just to see how much they’ve gone up in the past week
Pessimists sound smart...but optimists get rich
Cognitive dissonance and pride are a hell of a combo
And you STILL don't get it - one doesn't have to be either a pessimist or an optimist or anything in between to get rich.
You an "optimist" on GME too?
LOL, pot, kettle, etc.
You an "optimist" on GME too?
I like self sovereignty.