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bitcoins

cheez said:
Harambe and WSB are taking on the Bulls of Wall Street, apparently.

https://www.reddit.com/r/wallstreet...ing_the_ape_statue_has_arrived_in_wallstreet/

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Diamond hands, together strong!
 
So about this ETF (BITO)... I guess the fund is willy-nilly obliged to buy call options with all the incoming investments, no matter the price? And then obliged to sell the options before expiration 'cause they can't own Bitcoin? Or can they also buy puts?

Whoever's on the other side of those transactions won't be idiots, and might have connections to the fund managers, with associated conflicts of interest. Sounds like a real shitshow coming up.
 
I look at this a little different from you rodr. I look at it the same as a gold etf. November 1st 2004 is when the first gold etf came out. Price was right around 400 dollars. The price has soared ever since debut and never come back down. You will see something similar with bitcoin.
 
New high, it's at $66,894.

Good luck to the bitcoin believers on here. I do respect your commitment while I still believe that perception is the largest factor in it's value, and believe that you have just as much chance of big success as you so with a big failure, but the odds are much, much better than the lottery.
 
Climber said:
New high, it's at $66,894.

Good luck to the bitcoin believers on here. I do respect your commitment while I still believe that perception is the largest factor in it's value, and believe that you have just as much chance of big success as you so with a big failure, but the odds are much, much better than the lottery.
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:thumbup thanks!

I read some investor describing bitcoin as owning a piece of Manhattan. There's only so much of it. centuries ago when that land was getting bought up, no one knew what it would be worth today. What will btc be worth in ~2150 when all of the btc will have been mined? 50 years from then?

Yesterday, btc went from 63k to 67k in about 2 hours. back down to 63k now. With a market cap of over a trillion, that's like what ...10s of billions back and forth? 100s? That's institutional investment money. When they decide to get involved (and they are, big time), the belief turns more and more into a reality.
 
Bowling4Bikes said:
:thumbup thanks!

I read some investor describing bitcoin as owning a piece of Manhattan. There's only so much of it. centuries ago when that land was getting bought up, no one knew what it would be worth today. What will btc be worth in ~2150 when all of the btc will have been mined? 50 years from then?

Yesterday, btc went from 63k to 67k in about 2 hours. back down to 63k now. With a market cap of over a trillion, that's like what ...10s of billions back and forth? 100s? That's institutional investment money. When they decide to get involved (and they are, big time), the belief turns more and more into a reality.
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There is only so much bitcoin, but there is an unlimited amount of crypto-currency.

Whatever you think of crypto, comparing it to land situated next to one of the better seaports in the world seems a bit silly. No one needs crypto to exist, but everyone needs land.
 
Bowling4Bikes said:
:thumbup thanks!

I read some investor describing bitcoin as owning a piece of Manhattan. There's only so much of it. centuries ago when that land was getting bought up, no one knew what it would be worth today. What will btc be worth in ~2150 when all of the btc will have been mined? 50 years from then?

Yesterday, btc went from 63k to 67k in about 2 hours. back down to 63k now. With a market cap of over a trillion, that's like what ...10s of billions back and forth? 100s? That's institutional investment money. When they decide to get involved (and they are, big time), the belief turns more and more into a reality.
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Well, Yes and No.

Does anybody remember InfoSeek and AltaVista? They were the 2 biggest search engines for the internet in the late 90's. Then google came along and there probably aren't many people who even remember them, just like most kids probably haven't heard about myspace which was huge at one point.

My point is that while BitCoin is currently seen as the biggest and most well known, and they do have a limited number available, that could all change if another comes along with an infrastructure to more conveniently put in and take out your money with smaller charges.

So, only time will tell, one hurdle that I see for BitCoin is the shear mass of processing power necessary to keep it running, something that is only going to get worse. I haven't looked into the others, but their developers are probably known and still around, my understanding is that with BitCoin it's developer is unknown, please update if that isn't accurate.
 
Climber said:
Well, Yes and No.

Does anybody remember InfoSeek and AltaVista? They were the 2 biggest search engines for the internet in the late 90's. Then google came along and there probably aren't many people who even remember them, just like most kids probably haven't heard about myspace which was huge at one point.

My point is that while BitCoin is currently seen as the biggest and most well known, and they do have a limited number available, that could all change if another comes along with an infrastructure to more conveniently put in and take out your money with smaller charges.

So, only time will tell, one hurdle that I see for BitCoin is the shear mass of processing power necessary to keep it running, something that is only going to get worse. I haven't looked into the others, but their developers are probably known and still around, my understanding is that with BitCoin it's developer is unknown, please update if that isn't accurate.
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:thumbup that may be. I'm of the opinion that bitcoin is here to stay as, at the very least, a hedge against inflation and thus very attractive to those who seek that kind of investment.

There is an upcoming event called The Flippening. It's when another coin overtakes bitcoin for market dominance. This is some ways away, but is widely accepted that it will happen, and probably by Ethereum. This event isn't considered a bad thing, or a sign that bitcoin will be replaced by something better. The two tokens have different functions and can co-exist. Bitcoin as a currency doesn't have much as far as legitimate threats from other currencies to be overtaken. But the future is never known.

Electricity usage is an issue, for sure. Not nearly as bad as the media likes to report, but the concern is non-zero. In some ways it's driving alternative energy innovation. El Salvador adopted bitcoin as their primary currency, and has built a mining farm running exclusively off of energy derived from a volcano, for example.

Satoshi Nakomoto is the pseudonym for the bitcoin developer(s). His/Her/Their anonymity is a key tenet to the idea of why bitcoin was invented in the first place.
 
whales are playing whale games: There's a nice battle going on between shib and doge for who has the higher market cap. Robinhood owns ~70% of all doge, and shib is rallying from the news that they will pick them up soon too.
 
This month should be awesome. Charts are showing possible 90k in November. Follow PlanB if you don't already. His TA has been spot on. Not close but spot on.
 
Huh. Wonder if this isn't the recipe for the Great Depression all over again. Spanish Flu/COVID causing a huge spike in federal and state borrowing, causing increased dilution of the money supply, causing economic instability and inflation/stagflation that profits only the wealthy, resulting in an economic collapse.

Look at the Treasury debt jump from 1917-1919 for comparison.

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So guys I may be looking to get into the cryptocurrency game and need some advice on what would be the best/secure exchange and what would you also recommend for a wallet either online or offline? I could research on the Google but you can't always trust that stuff.
 
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