Additionally, stock markets have been around in the U.S. since the late s. Bitcoin is, on the other hand, a relatively new asset originating in the late s. The history just isn’t there for Bitcoin if you like a long-term track record. Speculative buying in Bitcoin and the stock market is seemingly being driven by Reddit forums dedicated to such activities. According to a report from CNBC, the subreddit forum r/wallstreetbets has been driving substantial market jumps. The feed claims to offer insight into the market, promising to help investors earn substantial returns. With Bitcoin’s halving less than one month away, investors are losing faith in the stock-to-flow model they’ve long subscribed to that suggests that the asset’s price should be pacing closer to $55, Recently, however, a long-time chart shared amongst the Reddit Bitcoin Market’s community has reemerged and given investors hope.
Reddit stock market bitcoinBitcoin’s 8 Years Annualized Returns Beats Stock Market 10 times : StockMarket
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But it is too slow, too volatile and isn't widely accepted, which means it fails it's primary function as a currency. Many payments processors now have near real time transactions, faster than bitcoin, are more widely accepted and are integrated into the financial system.
Bitcoin is a digital store of wealth, it will never be a currency like the dollar, euro or sterling. I own bitcoin, but I don't anticipate ever buying as much as a coffee with it. Do please enlighten us. What is the vision for buying a currency that cannot be used on a regular basis? What is the point in buying "virtual gold" without any intrinsic value?
Do we really need another asset whose value is contingent on people agreeing that it is valuable? What makes bitcoin more valuable than any of the other cryptocurrencies? This shit is retarted and people investing in this crap are going to lose their shirts sooner or later.
You think gold - which is a material that will shortly be in mass abundance will remain a hedge of value? Are you over 45 years old? Do you think PayPal accepting bitcoin for every payment for every item sold on its platform opens bitcoin to more or less potential uses?
There is no way that's going to happen in the next years I am aware that there are asteroids is space with trillions of dollars worth of precious metals. This has been talked about since like and will continue to be talked about for the next couple of decades.
Either way, investing in Bitcoin is still not that much better of an alternative. More and more cryptocurrencies will continues to be created, making Bitcoin just another one on the list. That's stupid. How was this meant to be a currency then?
If everyone can set the price of a coin to whatever his or her little heart desires. Bitcoin will fail and I hope you don't end up losing your shirt because of it.
Good luck! Shit, someone show this incredible DD to druck and raoul pal and morehead, tapiero and novogratz. If it fades into another hundreds of Gartner hype cycle examples from the past, their business will fade or even worse will be shut down due to lack of demand. If there is another retail boom however, they will cash out big time. So to assume, that big guys are not aware or i would dare to say, included in this mafia thing, is very naive, try not to be so gullible.
Pick any major exchange, Coinbase, Huobi, Binance, Kraken, all of those where one can follow where tether treasury sends its tether soon after minting them and soon after withdraws bitcoins, they are all part of this fuckery.
No one cares about this stuff as long as they are making money, so no one would listen to you. People only care or cry about this stuff after they lose money, just like ponzi and Madoff. Unfortunately i think you are right. Specially the downvote wave of supporters, who take even slight criticism as a personal attack. While Tether has a bunch of weak points, and good arguments of criticism should be given deep consideration from investors, I cannot take a graph without proper axes labeling serious.
In case someone didn't catch that, the black graph, labelled as 'google searches for bitcoin' is mapped to some dimension which is not visible in the graph, but used as a measure for the disproportionate printing of tether vs.
You should compare using the same units, but the agenda is not to inform now, is it? Graph is just a very simplified representation, showing a rather clear correlation between price and tether circulation supply. One can obviously say, that it is just either a coincidence or the demand for such an exponential increase for tether is very real, perhaps it is, but all facts out there, i personally do not think it is the case.
If you want more details into the theory i proposed, there is plenty of thorough documents out there that go into much more detail. One for example is the one i posted at the very top of my original post. It is a legal document, pages long and supports my theory rather well. I have expressed my "agenda" in the original post and all over the comments and that is to rise awareness and by doing so, try to probably somewhat naively protect unlucky people, who do not know any better, from losing their hard earned money.
If you do not mind, let me ask you, do you suggest that my real agenda is, as crypto people like to call it, spreading FUD? And if that is correct, may i ask you, how naive and gullible would i have to be, to think, that random reddit post would have absolutely any effect on the price of cryptocurrencies and their future.
I am just trying to do good in hopes, that i can save some people their hard earned money. Simple as that. Anything crypto should be treated with utmost care, the amount of false information in this space is beyond the factual information by orders of magnitude. Bitcoin will reach that market cap alone, the overall crypto market cap will be more.
Not sure how long it will stay above that level though! That's how bullish I am. I take it back. I've been doing well with stocks. You don't need to gamble on bitcoin to make money. There are plenty of opportunities out there to grow your money. I checked out after your tether rant. Have fun jumping off a bridge when it hits k. So any fact based check the fucking page document with plethora of proof i linked criticism, that has any slight counter arguments towards your dreams and hopes of a lambo, is stupid ass fucker who should jump off the bridge and die?
Step out of your ridiculous censored cult subreddits and at least try to understand counter arguments. In the very essence of crypto ponzi pyramid, just know, that even if you do get lucky and be the absolute master to nail selling the very top, there has to be many others below you who will be left holding the worthless bags. Only way for you to win, is to many others to lose their hard earned money, those are your ordinary everyday moms and dads, grandparents, brothers and sisters etc.
That is what this shit is all about, it does not produce any fucking product, service nor does it bring any additional value to people and society. So for someone, who tries to protect these people from losing their money, to tell me to jump off the bridge, take a critical look in the mirror, your life principles and by all means, GO.
I understand well what you are getting at, but I encourage you to spend more time trying to articulate your thoughts more clearly. Several lines of what you wrote are confusing simply because they are not complete sentences. The figure you provided, however, does well to make your point. Regarding your point, BitCoin is just another fiat currency not unlike any other fiat currency. I assure you, yes, BitCoin will crash some day and it will also soar after that and eventually crash again, just like any fiat currency.
When you mentioned Gold 2. I wonder if that resulted in a similar level of fuckery just on a devolved scale. Back in , they claimed they had packing equivalent in USD, which after ongoing lawsuits etc, soon changed their statement into "packing partially by USD".
And that was pack in , when there were "only" 1. Somewhere along the years , they again changed their statement, that it is not quite packed in USD, but in USD and other assets, by which they mean essentially bitcoin. In they have so far printed additional Then make another mouse click, print another 1B, rising bitcoin even further etc etc, rinse and repeat until ad nauseam if necessary. True, censorship in communities, subreddits etc.
You can make a mistake and you lose everything without any recourse. Same thing if you get hacked or scammed. Scammers and hackers are working hard to get to your cryptos, irreversible transactions is a Godsend for them. Thanks for explaining this, my gut said the price was bullshit, but I had no framework to understand why. You are welcome. Although i must add, that there is a lot more into this story and i am just a random person on internet trying to make sense of it.
And perhaps most of all, this is also just a theoretical explanation, until proven. Honestly, as i said in the post, my main objective is trying to protect people from losing their hard earned money, as in the very essence of this asset class, for one person to profit, someone else or more likely, many others, majority really, has to lose.
That is majority, what this speculative game is currently about. There are of course some projects, exceptions out there etc. That is it, and i fucking hate it. I appreciate the time to explain it. Bitcoin seems energy hungry and outdated compared to newer coins. So it just seems like straight bs to me at this point. I just hold Bitcoin and trust the anti-inflation.
Or possibly picking the best crypto and comparing it to the best fiat currency would be more applicable? Or to gold? That would make the numbers look even more dramatic. That said I think bitcoin is a terrible store of value because its so volatile and is a terrible currency because the blockchain is slow and so few retails accept it. So I guess right now bitcoin is a commodity with a finite amount and a speculative investment. Doesn't mean it won't triple in value but also doesn't mean it might crash back down to 10k levels.
Yes btc is both a terrible store of value and terrible payment currency. That's y comparing it for purely speculative investment purposes only makes sense. Its a speculative investment that may hedge against inflation and currency risk, hence the gold comparisons. There are other cryptos that are good for buying things, but like you said, bitcoin isnt one of them. Speculative and hedge cannot be used for same asset.
It's either or. Stocks and crytpo don't fit the bill since they are volatile. What timeframe do you use to assess volatility? Surely you don't consider stocks a store of value either then Just saying.
Eventually it will have normal fluctuations based mainly on economic conditions but until then it will be driven by speculation about whether that future will become a reality and at what level it will finally settle. It is therefore a speculative store of value at the moment. Terrible store of value but literally anybody who bought it ever in history would be in the profit right now. I think it's still a valid comparison. Bitcoin is such a huge portion of cryptocurrency, that you can get a feel of how the entire market is doing by just looking at its price.
I totally agree with this, seems like they always choose an arbitrary start-date. Not sure what value this article really adds. Anyone can select a timeframe over which X asset class outperforms Y asset class. Only hindsight can tell you which is which - but past performance is rarely an indicator of future results.
Surely you knew about BTC in March. Everybody who didn't already know about it was made aware in It was in the 3k range twice since if I remember it correctly. But also that means it twice collapsed back to 3k. I know people who bought at 20k in and watched it collapse. So hundreds of millions of people will be able to buy bitcoin, send bitcoin and pay with bitcoin at online retailers. I told my wife about it and she told me to buy some BTC immediately. Dumb headline. Many stocks has also beaten the market as a whole.
I don't understand how. Might as well let it ride. Don't know, haven't sold yet. I'm not sure if its considered a long term investment income or taxed as regular income. I like the idea of having a small portion of your portfolio in BTC and other cryptocurrencies.
Just like having a small portion of your portfolio in commodities like Gold and Silver. Nothing wrong with diversification.
I wouldn't put money I couldn't afford to lose anywhere near the thing. Which is ironic for bitcoin pushers who claim it's a new monetary world order and financial freedom. Financial freedom for whom, exactly? Looks more like the new boss is exactly the same as the old boss. We know because they say which wallets are theirs. Bitcoin distribution increases substantially over time, unlike fiat currency which concentrates over time.
I think the freedom relates more to the inability for companies like Visa and MasterCard to randomly just stop accepting your payments or income like they did to pornhub or controversial people.
Im in it to make a buck honestly, but just giving my two cents. I dunno, the libertarian argument for bitcoin to me is the thing that concerns me the most. Libertarian ideology is pretty unmoored from reality. Do we really think governments and corporations are going to allow a form of currency outside of their control? I dunno, I just see bitcoin as never actually growing the utility it needs to be something other than purely speculative.
I agree with you, but the way bitcoin is set up leads to enormous transaction times so it will never be a currency. It's more of a store of value, so I see governments trying to regulate and adopt it as that. Only because it is almost impossible to use it as a currency on the day to day which means it is not a threat to fiat. The internet was ridiculously slow an inefficient at first too. No one thought it could scale. The thing about open source, decentralized protocols though is that they invite innovation that no one could see coming.
Bitcoin will be a work in progress for decades just like the internet has been. That correction was painful and all but Bitcoin was after that correction so still up x10 compared to 14 months before.
And an address doesn't equal a person. Many bitcoin are aggregated in wallets held by exchanges and other custodial services. So what? Ahh yes. The old "Don't buy bitcoin, because you know it's gonna crash Technically correct, the best kind.
When bitcoin is rising through the moon and alts are still not really into the rally thing Cries in holding altcoins. Still would be cool for them to rally again like in so I could maybe get a whole BTC out of it. Alts typically jump way after Bitcoin has made large moves, well at least that was the way in and Coinbase filed to go public today. Replace alts with a unicorn like coinbase and you might make it work for yourself this time. I will be messaging you in 1 year on UTC to remind you of this link.
Parent commenter can delete this message to hide from others. That's just entirely what's happening. It's just digital gold, it's not even a good currency to use. Ethereum still has little demand for uses, and everyday, every post is just pumping bitcoin like it's free money or an excellent investment when it's just a hedge to inflation, yet we are not facing inflation and jpow is struggling still to get inflation which is why he's using so many tools on stimulus deals too the point of buying bonds.
The only value bitcoin has is that it can keep enough holders from selling and trick enough people into buying this digital gold that doesn't really have a value compared to other digital untraceable currency beside just being the most well known. Would it not be comparing apples to oranges? For example, there are more than likely individual stocks that have similar if not better performances?
Nominal Value of paper is a fraction of a penny and there are fewer of these than BitCoin, plus if you chopped up a comic it is worthless. The last couple of years has been pretty awful in terms of returns. Are people comfortable investing bitcoin with brokers like Robinhood now?
I remember the advice a couple years ago was keep your own wallet. Any recommendations on choosing a wallet? Sorry, new to this and my FOMO is strong. When I googled setting up a bitcoin wallet there was a lot of info and not sure the best place to start. I like the concept of bitcoin, but bitcoin itself isn't really usable.
It probably will take years time for most people to understand tho. It seems too risky for it to be worth it. The fundamental perception of it as a commodity to trade into from a cash position may make sense or turn off to be misunderstood and come crashing down. What the fundamentals of bitcoin or other cryptos that will lead you to have conviction for the long term?
I have my own answers, but curious to hear others, preferably without the quasi religious fanatic stuff. Cannot understand Bitcoin.
They said it was very inefficient due the electric consumption and not able to deal with hundred of thousand transaction a second as credit card. Then they said there were many new altcoin that had partly solved the main problems of bitcoin.
Here's a blog with many articles, there is an article addressing every point you made. It's not even close to being back. If you're going to compare like for like, compare the crypto market with the stock market, comparison is a bit biased.