Bitcoin News Thread
- Thread starter VladKinder
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SmallTown
Well-known member
If I ever move to a favella in Peru I'll bear it in mind! Mate even for you that's desperate.
johnsmithsno2
Well-known member
And yet that's exactly the time to buy, just like share indexes. BTC has always recovered its losses (I know that doesn't mean it always will), so as I see it, the only people who have lost money are those who panicked, didn't see its long-term potential or overstretched and were forced to sell.
The exact time to buy BTC is when it's at an all time high?
The problem with advise like that is it's always based on historical data, which is only true.... until it's not.
Reads to me like he said when it's not at a high is the time to buy but doesn't generate the interest it does when it is at a high.
The time to buy is when a pro-crypto president and pro-crypto senate have just been elected and several prominent anti-crypto senators have been ousted. Trump has said that he wants to establish a strategic bitcoin reserve and now he has a mandate to do that. When the U.S. leads the rest of the world follows. I can see BTC exploding in the next 12-18 months.
Middlesbrough123
Well-known member
You haven’t compared btc with x3 leveraged Rolls Royce that chart you’ve posted is an unleveraged position . I bought £3k of x3 Rolls Royce last October and took £4250 out in April this yr . Last week the balance left in was £19300 at its highest .
This chart is after it was out in an ISA in April
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northernrower
Well-known member
Why exactly do you want it to fail?
SmallTown
Well-known member
I don't exactly want it to fail. But in it's current guise it serves no purpose. It has no intrinsic value and people are taking advantage of it's barely regulated nature to make money for no reason, Without giving anything back to society. I have no problem with alternative forms of currency. But they have to be legal and safe for people, not the preserve of crooked people
North22
Well-known member
It gives him something else to whinge about. As long as it’s not football he has to comment on he’s happy.
SmallTown
Well-known member
Wow I have a fresh stalker! That's not the first time you've ignored a subject and gone straight on the attack. I honestly pity a life so sad you need to stalk a random username on the internet. Hope things pick up for you soon good buddy.
northernrower
Well-known member
I can't believe I have just read this.
It's hardly without reason. Of course people are making money, but the reason most are is to become better off. More financial stability.
If I'm able to make profits from cryptocurrency I am naturally going to then circulate that money back into society. Whether it's by taking my family to eat out, buying new clothes, home improvements, etc. All of this supports businesses and contributes to society. Saying otherwise is just wrong.
You know that the way you talk about all the fake negativity about EVs from the big oil companies with self-preservation interests. You sound exactly the same as one of those people, being negative about something you have no understanding of.
I don't think you even know what you mean by regulation but I'm guessing you mean control. The whole reason for something like bitcoin is to give the power to the people that use it because people in control of things like governments can't be trusted.
You can't regulate an open source currency. That's the whole point. You can regulate exchanges to ensure that customers that use them to exchange currencies are protected. That's already happening. The reason that it has been slow, and customers aren't protected, is because countries like the US, other central banks and financial institutions, don't want the competition of something like bitcoin. The same way that oil companies don't want EVs to replace ICE cars. Central banks don't want the fiat Ponzi scheme to be exposed for what it is. Fiat currency has no intrinsic value. It is created whenever a central bank decides it wants to create more. By extension, nothing has intrinsic value because it's all based on made up numbers.
The system was backed by gold. There was an underlying asset behind the value of currencies like the $. There no longer is. The whole system is built on infinite debt and at some point there may be an almighty crash.
Perhaps I’m missing the point, but could you not say the same for any asset. Something only has value because we as a society have deemed it to have said value. It’s just supply and demand. If everybody suddenly decided that Lamborghinis and Ferraris were garbage there was no demand for them they’d have no value.
As for the point about people making money from it without giving anything back to society, I think that’s a little unfair. Crypto is recognised by the government as personal property rather than a currency and you’re required to pay capital gains tax on any trades.
SmallTown
Well-known member
Most assets and exchnage thereof are more regulated than bitcoin though. That's really the only issue I have with it as a currency. It's the preserve of the chancers at the moment. And a ferrari still has a physical attribute. No matter what it's worth it can still be used as a vehicle. You can still use it to transport yourself.
The second point is just that, well it's tied in with the first. It doesn't do anything, has no intrinsic worth. It only has worth when people convert it into a regulated and usable currency. It adds nothing to the world. If I buy a Ferrari: Mechanics, haulage firms, shipping firms, the Italian government, the British government, all of Ferraris parts supplier, even (urgh) oil companies all benefit either in direct sales or taxes. If I get rich on bitcoin no one actually benefits. Your profiteering is solely for your benefit and the exchange company who literally just own a spreadsheet.
SmallTown
Well-known member
I know what I mean by regulation. I'm an expert in regulation and regulatory compliance. Don't have the bare faced cheek to say I don't understand something just because I disagree with you
Explain what you mean about regulation of bitcoin then and prove it. Who, what or how do you expect bitcoin to be regulated?
I'm an expert in my field but there is loads of stuff not directly related to my area of expertise that I know very little about. I'm an accountant but if someone questioned me on tax I wouldn't be offended.
Not like you to ignore an entire post questioning your knowledge to focus on a tiny inconsequential detail though...
SmallTown
Well-known member
No I meant I was in expert in the filed of regulation and compliance in general. So for starters lets regulate it like a currency, if that's what people think it can be used as
You don't regulate a currency. You regulate the people/industries that produce/use/hold/trade the currency. So your negativity about the incoming US government being pro-crypto is at odds with reality. The problem isn't with bitcoin, because that is self-regulating. It has a distributed ledger that can be audited at all times. Your issue is with exchanges which would be less of a problem if the people/governments opposing crypto regulated those exchanges effectively instead of dismissing them.
This is why people in crypto advise keeping crypto off exchanges "not your keys, not your coins" because the refusal to regulate them in the past is what has allowed crooks to take advantage of people.