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Bitcoin, by Fast Eddie on Dec 17, 2018 16:12:58 GMT 1, I need to tread lightly here because this is a forum where art is traded, an even harder asset to price rationally. But yeah tulip was a bubble with prices way off from any rational fundamental discounted valuation. Now, because assets like paintings or tulip bulbs do not pay any dividend, what that valuation should be is highly model dependent.
I need to tread lightly here because this is a forum where art is traded, an even harder asset to price rationally. But yeah tulip was a bubble with prices way off from any rational fundamental discounted valuation. Now, because assets like paintings or tulip bulbs do not pay any dividend, what that valuation should be is highly model dependent.
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Deleted
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January 1970
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Bitcoin
Dec 17, 2018 17:26:05 GMT 1
Bitcoin, by Deleted on Dec 17, 2018 17:26:05 GMT 1, I need to tread lightly here because this is a forum where art is traded, an even harder asset to price rationally. But yeah tulip was a bubble with prices way off from any rational fundamental discounted valuation. Now, because assets like paintings or tulip bulbs do not pay any dividend, what that valuation should be is highly model dependent.
For assets like paintings and tulip bulbs with no intrinsic value, the price is simply determined by what the next buyer is willing to pay for them. You can try and model this, but previous stock market crashes have proved we are extremely bad at modelling even regular assets.
I need to tread lightly here because this is a forum where art is traded, an even harder asset to price rationally. But yeah tulip was a bubble with prices way off from any rational fundamental discounted valuation. Now, because assets like paintings or tulip bulbs do not pay any dividend, what that valuation should be is highly model dependent. For assets like paintings and tulip bulbs with no intrinsic value, the price is simply determined by what the next buyer is willing to pay for them. You can try and model this, but previous stock market crashes have proved we are extremely bad at modelling even regular assets. |
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19818914
Junior Member
🗨️ 1,337
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October 2018
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Bitcoin, by 19818914 on Dec 17, 2018 20:31:31 GMT 1, You guys might be speaking too soon.
You guys might be speaking too soon.
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juni0209
New Member
🗨️ 788
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February 2018
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Bitcoin
Dec 17, 2018 20:56:07 GMT 1
via mobile
Bitcoin, by juni0209 on Dec 17, 2018 20:56:07 GMT 1, You guys might be speaking too soon.
I would say double up if you still believe in it 😉
You guys might be speaking too soon. I would say double up if you still believe in it 😉 |
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19818914
Junior Member
🗨️ 1,337
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October 2018
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Bitcoin, by 19818914 on Dec 17, 2018 21:21:23 GMT 1, You guys might be speaking too soon. I would say double up if you still believe in it 😉
I’ll wait for lower.
You guys might be speaking too soon. I would say double up if you still believe in it 😉 I’ll wait for lower. |
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juni0209
New Member
🗨️ 788
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February 2018
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Bitcoin
Dec 17, 2018 21:26:25 GMT 1
via mobile
Bitcoin, by juni0209 on Dec 17, 2018 21:26:25 GMT 1, I would say double up if you still believe in it 😉 I’ll wait for lower.
At this pace you don’t have to wait long.
I would say double up if you still believe in it 😉 I’ll wait for lower. At this pace you don’t have to wait long. |
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19818914
Junior Member
🗨️ 1,337
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October 2018
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Bitcoin, by 19818914 on Dec 17, 2018 21:36:09 GMT 1, Yup I’m
Patient.
Yup I’m
Patient.
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Chris JL
Junior Member
🗨️ 1,766
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March 2017
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Bitcoin, by Chris JL on Dec 17, 2018 23:19:00 GMT 1, Krugman is seen as a running joke for being consistently wrong these days unfortunately. Having said that, he at least did take time to research Bitcoin properly unlike the lazy ones who just shout 'meh.. bubble.. tulips!' Wonder where the price was when he wrote that article in 2013 as well.
Not sure in which parallel universe you live in tbh...
Krugman is seen as a running joke for being consistently wrong these days unfortunately. Having said that, he at least did take time to research Bitcoin properly unlike the lazy ones who just shout 'meh.. bubble.. tulips!' Wonder where the price was when he wrote that article in 2013 as well. Not sure in which parallel universe you live in tbh... |
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Deleted
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January 1970
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Bitcoin, by Deleted on Dec 18, 2018 0:00:28 GMT 1, Krugman is seen as a running joke for being consistently wrong these days unfortunately. Having said that, he at least did take time to research Bitcoin properly unlike the lazy ones who just shout 'meh.. bubble.. tulips!' Wonder where the price was when he wrote that article in 2013 as well. Not sure in which parallel universe you live in tbh...
Krugman is seen as a running joke for being consistently wrong these days unfortunately. Having said that, he at least did take time to research Bitcoin properly unlike the lazy ones who just shout 'meh.. bubble.. tulips!' Wonder where the price was when he wrote that article in 2013 as well. Not sure in which parallel universe you live in tbh... It's called the real world. Easy to forget when you're stuck in academia I suppose. |
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Bitcoin, by Sub Method on Dec 18, 2018 0:22:17 GMT 1, This has happened so many times. Ride it out. It will be back.
This has happened so many times. Ride it out. It will be back.
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Chris JL
Junior Member
🗨️ 1,766
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March 2017
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Bitcoin, by Chris JL on Dec 18, 2018 1:52:32 GMT 1, Not sure in which parallel universe you live in tbh... It's called the real world. Easy to forget when you're stuck in academia I suppose.
Paul has revolutionised our understanding in at least 2 fields, has lined up more achievements (including a Nobel prize) and contributions to humanity than any of us will in multiple lifetimes, has advised (and well) governments around the globe helping (pro bono) several countries during currency and default crises, and he has systematically made the right call on the BS policies (including austerity and corporate tax cuts) you know-nothing fall for.
And he’s an utterly decent and kind human being, humble and intellectually curious and open to challenges and dissonant opinions (and with probably 3 times your IQ judging from what you write), but honest and intolerant to BS as any intellectual should be (and that’s why you won’t easily see him working for the WH any time soon, independently from the colour of the administration).
You are the running joke on the horizon, not him, sorry.
Not sure in which parallel universe you live in tbh... It's called the real world. Easy to forget when you're stuck in academia I suppose. Paul has revolutionised our understanding in at least 2 fields, has lined up more achievements (including a Nobel prize) and contributions to humanity than any of us will in multiple lifetimes, has advised (and well) governments around the globe helping (pro bono) several countries during currency and default crises, and he has systematically made the right call on the BS policies (including austerity and corporate tax cuts) you know-nothing fall for. And he’s an utterly decent and kind human being, humble and intellectually curious and open to challenges and dissonant opinions (and with probably 3 times your IQ judging from what you write), but honest and intolerant to BS as any intellectual should be (and that’s why you won’t easily see him working for the WH any time soon, independently from the colour of the administration). You are the running joke on the horizon, not him, sorry. |
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Deleted
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January 1970
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Bitcoin
Dec 18, 2018 8:57:42 GMT 1
via mobile
Bitcoin, by Deleted on Dec 18, 2018 8:57:42 GMT 1, It's called the real world. Easy to forget when you're stuck in academia I suppose. Paul has revolutionised our understanding in at least 2 fields, has lined up more achievements (including a Nobel prize) and contributions to humanity than any of us will in multiple lifetimes, has advised (and well) governments around the globe helping (pro bono) several countries during currency and default crises, and he has systematically made the right call on the BS policies (including austerity and corporate tax cuts) you know-nothing fall for. And he’s an utterly decent and kind human being, humble and intellectually curious and open to challenges and dissonant opinions (and with probably 3 times your IQ judging from what you write), but honest and intolerant to BS as any intellectual should be (and that’s why you won’t easily see him working for the WH any time soon, independently from the colour of the administration). You are the running joke on the horizon, not him, sorry.
Lol you're such a weirdo. I'd probably be upset too if I had all that marking to do over Christmas. Chin up.
It's called the real world. Easy to forget when you're stuck in academia I suppose. Paul has revolutionised our understanding in at least 2 fields, has lined up more achievements (including a Nobel prize) and contributions to humanity than any of us will in multiple lifetimes, has advised (and well) governments around the globe helping (pro bono) several countries during currency and default crises, and he has systematically made the right call on the BS policies (including austerity and corporate tax cuts) you know-nothing fall for. And he’s an utterly decent and kind human being, humble and intellectually curious and open to challenges and dissonant opinions (and with probably 3 times your IQ judging from what you write), but honest and intolerant to BS as any intellectual should be (and that’s why you won’t easily see him working for the WH any time soon, independently from the colour of the administration). You are the running joke on the horizon, not him, sorry. Lol you're such a weirdo. I'd probably be upset too if I had all that marking to do over Christmas. Chin up. |
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Bitcoin
Dec 18, 2018 9:04:49 GMT 1
via mobile
Bitcoin, by Express Post on Dec 18, 2018 9:04:49 GMT 1, The only people I know generating money daily off crypto right now are my quants who have written software to trade arbitrage opportunities. The code is elegant and the market volatility is such a beautiful thing.
I still think that investing in btc is a terrible idea, but arbitrage is not.
The only people I know generating money daily off crypto right now are my quants who have written software to trade arbitrage opportunities. The code is elegant and the market volatility is such a beautiful thing.
I still think that investing in btc is a terrible idea, but arbitrage is not.
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Deleted
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January 1970
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Bitcoin, by Deleted on Dec 18, 2018 9:09:41 GMT 1, The only people I know generating money daily off crypto right now are my quants who have written software to trade arbitrage opportunities. The code is elegant and the market volatility is such a beautiful thing. I still think that investing in btc is a terrible idea, but arbitrage is not.
Like investing in anything it depends on your market timing. Investing in 2012 worked out pretty well for me.
But yea with so many different exchanges and no central pricing source I imagine the arb opportunities are pretty huge. Just come with pretty huge exchange risk to go with it.
The only people I know generating money daily off crypto right now are my quants who have written software to trade arbitrage opportunities. The code is elegant and the market volatility is such a beautiful thing. I still think that investing in btc is a terrible idea, but arbitrage is not. Like investing in anything it depends on your market timing. Investing in 2012 worked out pretty well for me. But yea with so many different exchanges and no central pricing source I imagine the arb opportunities are pretty huge. Just come with pretty huge exchange risk to go with it. |
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Bitcoin
Dec 18, 2018 9:19:44 GMT 1
via mobile
Bitcoin, by Express Post on Dec 18, 2018 9:19:44 GMT 1, You basically won the lottery if you bought in 2012 and rode out all the movements.
Also in 2012, Tomoo Gokita paintings were $10-$15k. Look at auction prices now...
The only people I know generating money daily off crypto right now are my quants who have written software to trade arbitrage opportunities. The code is elegant and the market volatility is such a beautiful thing. I still think that investing in btc is a terrible idea, but arbitrage is not. Like investing in anything it depends on your market timing. Investing in 2012 worked out pretty well for me. But yea with so many different exchanges and no central pricing source I imagine the arb opportunities are pretty huge. Just come with pretty huge exchange risk to go with it.
You basically won the lottery if you bought in 2012 and rode out all the movements. Also in 2012, Tomoo Gokita paintings were $10-$15k. Look at auction prices now... The only people I know generating money daily off crypto right now are my quants who have written software to trade arbitrage opportunities. The code is elegant and the market volatility is such a beautiful thing. I still think that investing in btc is a terrible idea, but arbitrage is not. Like investing in anything it depends on your market timing. Investing in 2012 worked out pretty well for me. But yea with so many different exchanges and no central pricing source I imagine the arb opportunities are pretty huge. Just come with pretty huge exchange risk to go with it. |
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Deleted
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January 1970
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Bitcoin, by Deleted on Dec 18, 2018 9:25:31 GMT 1, You basically won the lottery if you bought in 2012 and rode out all the movements. Also in 2012, Tomoo Gokita paintings were $10-$15k. Look at auction prices now... Like investing in anything it depends on your market timing. Investing in 2012 worked out pretty well for me. But yea with so many different exchanges and no central pricing source I imagine the arb opportunities are pretty huge. Just come with pretty huge exchange risk to go with it.
I took a small punt as I found the concept of Bitcoin fascinating. It genuinely wasn't actually about profit. Similar to art I suppose. Although we all really do hope our art goes up in value, if you like the painting and were willing to pay that price at the time then it shouldn't really matter.
I don't think Bitcoin is going anywhere. The way the world is headed at the moment, decentralised money might see a great idea to a lot of countries in the future.
You basically won the lottery if you bought in 2012 and rode out all the movements. Also in 2012, Tomoo Gokita paintings were $10-$15k. Look at auction prices now... Like investing in anything it depends on your market timing. Investing in 2012 worked out pretty well for me. But yea with so many different exchanges and no central pricing source I imagine the arb opportunities are pretty huge. Just come with pretty huge exchange risk to go with it. I took a small punt as I found the concept of Bitcoin fascinating. It genuinely wasn't actually about profit. Similar to art I suppose. Although we all really do hope our art goes up in value, if you like the painting and were willing to pay that price at the time then it shouldn't really matter. I don't think Bitcoin is going anywhere. The way the world is headed at the moment, decentralised money might see a great idea to a lot of countries in the future. |
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Chris JL
Junior Member
🗨️ 1,766
👍🏻 1,852
March 2017
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Bitcoin, by Chris JL on Dec 18, 2018 12:01:26 GMT 1, Paul has revolutionised our understanding in at least 2 fields, has lined up more achievements (including a Nobel prize) and contributions to humanity than any of us will in multiple lifetimes, has advised (and well) governments around the globe helping (pro bono) several countries during currency and default crises, and he has systematically made the right call on the BS policies (including austerity and corporate tax cuts) you know-nothing fall for. And he’s an utterly decent and kind human being, humble and intellectually curious and open to challenges and dissonant opinions (and with probably 3 times your IQ judging from what you write), but honest and intolerant to BS as any intellectual should be (and that’s why you won’t easily see him working for the WH any time soon, independently from the colour of the administration). You are the running joke on the horizon, not him, sorry. Lol you're such a weirdo. I'd probably be upset too if I had all that marking to do over Christmas. Chin up.
As usual, you confirm that you have no idea of what u r talking about 😂 (hint: do you think that any top school would fiercely compete for top academics and then waste their time marking? Think again if u can)
Paul has revolutionised our understanding in at least 2 fields, has lined up more achievements (including a Nobel prize) and contributions to humanity than any of us will in multiple lifetimes, has advised (and well) governments around the globe helping (pro bono) several countries during currency and default crises, and he has systematically made the right call on the BS policies (including austerity and corporate tax cuts) you know-nothing fall for. And he’s an utterly decent and kind human being, humble and intellectually curious and open to challenges and dissonant opinions (and with probably 3 times your IQ judging from what you write), but honest and intolerant to BS as any intellectual should be (and that’s why you won’t easily see him working for the WH any time soon, independently from the colour of the administration). You are the running joke on the horizon, not him, sorry. Lol you're such a weirdo. I'd probably be upset too if I had all that marking to do over Christmas. Chin up. As usual, you confirm that you have no idea of what u r talking about 😂 (hint: do you think that any top school would fiercely compete for top academics and then waste their time marking? Think again if u can) |
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Bitcoin
Dec 18, 2018 12:06:43 GMT 1
via mobile
Bitcoin, by Express Post on Dec 18, 2018 12:06:43 GMT 1, When the full time cleaners were "investing" in crypto, it spelt trouble.
Crypto wasn't designed as an investment vehicle but a decentralised currency used to exchange for goods or services.
You basically won the lottery if you bought in 2012 and rode out all the movements. Also in 2012, Tomoo Gokita paintings were $10-$15k. Look at auction prices now... I took a small punt as I found the concept of Bitcoin fascinating. It genuinely wasn't actually about profit. Similar to art I suppose. Although we all really do hope our art goes up in value, if you like the painting and were willing to pay that price at the time then it shouldn't really matter. I don't think Bitcoin is going anywhere. The way the world is headed at the moment, decentralised money might see a great idea to a lot of countries in the future.
When the full time cleaners were "investing" in crypto, it spelt trouble. Crypto wasn't designed as an investment vehicle but a decentralised currency used to exchange for goods or services. You basically won the lottery if you bought in 2012 and rode out all the movements. Also in 2012, Tomoo Gokita paintings were $10-$15k. Look at auction prices now... I took a small punt as I found the concept of Bitcoin fascinating. It genuinely wasn't actually about profit. Similar to art I suppose. Although we all really do hope our art goes up in value, if you like the painting and were willing to pay that price at the time then it shouldn't really matter. I don't think Bitcoin is going anywhere. The way the world is headed at the moment, decentralised money might see a great idea to a lot of countries in the future. |
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Deleted
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January 1970
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Bitcoin
Dec 18, 2018 12:56:38 GMT 1
Bitcoin, by Deleted on Dec 18, 2018 12:56:38 GMT 1, Lol you're such a weirdo. I'd probably be upset too if I had all that marking to do over Christmas. Chin up. As usual, you confirm that you have no idea of what u r talking about 😂 (hint: do you think that any top school would fiercely compete for top academics and then waste their time marking? Think again if u can)
It's called banter on an urban art forum... get over yourself professor lol
Lol you're such a weirdo. I'd probably be upset too if I had all that marking to do over Christmas. Chin up. As usual, you confirm that you have no idea of what u r talking about 😂 (hint: do you think that any top school would fiercely compete for top academics and then waste their time marking? Think again if u can) It's called banter on an urban art forum... get over yourself professor lol |
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Deleted
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January 1970
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Bitcoin
Dec 18, 2018 12:57:55 GMT 1
Bitcoin, by Deleted on Dec 18, 2018 12:57:55 GMT 1, When the full time cleaners were "investing" in crypto, it spelt trouble. Crypto wasn't designed as an investment vehicle but a decentralised currency used to exchange for goods or services. I took a small punt as I found the concept of Bitcoin fascinating. It genuinely wasn't actually about profit. Similar to art I suppose. Although we all really do hope our art goes up in value, if you like the painting and were willing to pay that price at the time then it shouldn't really matter. I don't think Bitcoin is going anywhere. The way the world is headed at the moment, decentralised money might see a great idea to a lot of countries in the future.
Futures were designed to hedge crop prices. Art was designed to look nice on a wall. Gold was... well it's just shiny rocks. Doesn't stop any of these things having value and people investing in them.
When the full time cleaners were "investing" in crypto, it spelt trouble. Crypto wasn't designed as an investment vehicle but a decentralised currency used to exchange for goods or services. I took a small punt as I found the concept of Bitcoin fascinating. It genuinely wasn't actually about profit. Similar to art I suppose. Although we all really do hope our art goes up in value, if you like the painting and were willing to pay that price at the time then it shouldn't really matter. I don't think Bitcoin is going anywhere. The way the world is headed at the moment, decentralised money might see a great idea to a lot of countries in the future. Futures were designed to hedge crop prices. Art was designed to look nice on a wall. Gold was... well it's just shiny rocks. Doesn't stop any of these things having value and people investing in them. |
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gd79
Junior Member
🗨️ 1,132
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September 2015
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Bitcoin
Dec 18, 2018 14:13:59 GMT 1
via mobile
Bitcoin, by gd79 on Dec 18, 2018 14:13:59 GMT 1, More steel is poured every hour than all the gold ever processed
No real point to the fact
More steel is poured every hour than all the gold ever processed
No real point to the fact
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Bitcoin
Dec 18, 2018 14:28:27 GMT 1
via mobile
Bitcoin, by Express Post on Dec 18, 2018 14:28:27 GMT 1, Everything you listed is physical or the underlying asset is physical. Btc has absolutely nothing. It is like investing in the common banknotes, except you still get a piece of paper or polymer.
Even Didi is now getting desperate by knocking FANG. When the full time cleaners were "investing" in crypto, it spelt trouble. Crypto wasn't designed as an investment vehicle but a decentralised currency used to exchange for goods or services. Futures were designed to hedge crop prices. Art was designed to look nice on a wall. Gold was... well it's just shiny rocks. Doesn't stop any of these things having value and people investing in them.
Everything you listed is physical or the underlying asset is physical. Btc has absolutely nothing. It is like investing in the common banknotes, except you still get a piece of paper or polymer. Even Didi is now getting desperate by knocking FANG. When the full time cleaners were "investing" in crypto, it spelt trouble. Crypto wasn't designed as an investment vehicle but a decentralised currency used to exchange for goods or services. Futures were designed to hedge crop prices. Art was designed to look nice on a wall. Gold was... well it's just shiny rocks. Doesn't stop any of these things having value and people investing in them. |
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Deleted
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January 1970
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Bitcoin
Dec 18, 2018 15:37:47 GMT 1
Bitcoin, by Deleted on Dec 18, 2018 15:37:47 GMT 1, Everything you listed is physical or the underlying asset is physical. Btc has absolutely nothing. It is like investing in the common banknotes, except you still get a piece of paper or polymer. Even Didi is now getting desperate by knocking FANG. Futures were designed to hedge crop prices. Art was designed to look nice on a wall. Gold was... well it's just shiny rocks. Doesn't stop any of these things having value and people investing in them.
Would like to hear you explain how a future is physical... And so what you get a piece of paper? That piece of paper has a tiny intrinsic value.
And how many people who invest in Gold actually hold the gold? Not many. Even if you do, so what? You've got a shiny rock. It's still only worth what the next man is willing to pay for your shiny rock.
Everything you listed is physical or the underlying asset is physical. Btc has absolutely nothing. It is like investing in the common banknotes, except you still get a piece of paper or polymer. Even Didi is now getting desperate by knocking FANG. Futures were designed to hedge crop prices. Art was designed to look nice on a wall. Gold was... well it's just shiny rocks. Doesn't stop any of these things having value and people investing in them. Would like to hear you explain how a future is physical... And so what you get a piece of paper? That piece of paper has a tiny intrinsic value. And how many people who invest in Gold actually hold the gold? Not many. Even if you do, so what? You've got a shiny rock. It's still only worth what the next man is willing to pay for your shiny rock. |
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Deleted
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January 1970
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Bitcoin
Dec 18, 2018 15:42:12 GMT 1
Bitcoin, by Deleted on Dec 18, 2018 15:42:12 GMT 1, More steel is poured every hour than all the gold ever processed No real point to the fact
There is a point, a very good one. All prices are determined by supply and demand. With Steel, it's quite obvious.. supply is high but so is demand as it has many uses. Gold is different. Supply is lower, but demand is driven by other factors.. it's not that useful (except for some cables) so most of the demand comes from it's decorative use. See how the price changes when Indian wedding season kicks in for example. But most of the demand comes from pure speculation (and/or manipulation thanks to JPM).
More steel is poured every hour than all the gold ever processed No real point to the fact There is a point, a very good one. All prices are determined by supply and demand. With Steel, it's quite obvious.. supply is high but so is demand as it has many uses. Gold is different. Supply is lower, but demand is driven by other factors.. it's not that useful (except for some cables) so most of the demand comes from it's decorative use. See how the price changes when Indian wedding season kicks in for example. But most of the demand comes from pure speculation (and/or manipulation thanks to JPM). |
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Deleted
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January 1970
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Bitcoin
Dec 18, 2018 15:46:17 GMT 1
Bitcoin, by Deleted on Dec 18, 2018 15:46:17 GMT 1, And like gold, the supply of Bitcoin is limited. There will only ever be 21 million bitcoin. And supply slows over time. Where does the demand come from? Well that depends. Does it gain mass adoption as an online currency? Maybe but it's not too likely. Will lots of people invest in? Almost certainly. How about people in countries suffering hyperinflation who need a genuine need for an alternate currency? Sure. Now imagine if a couple of institutional investors allocate just a tiny fraction of their total pool to this new asset class...
And like gold, the supply of Bitcoin is limited. There will only ever be 21 million bitcoin. And supply slows over time. Where does the demand come from? Well that depends. Does it gain mass adoption as an online currency? Maybe but it's not too likely. Will lots of people invest in? Almost certainly. How about people in countries suffering hyperinflation who need a genuine need for an alternate currency? Sure. Now imagine if a couple of institutional investors allocate just a tiny fraction of their total pool to this new asset class...
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gd79
Junior Member
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Bitcoin
Dec 18, 2018 16:00:15 GMT 1
via mobile
Bitcoin, by gd79 on Dec 18, 2018 16:00:15 GMT 1, And like gold, the supply of Bitcoin is limited. There will only ever be 21 million bitcoin. And supply slows over time. Where does the demand come from? Well that depends. Does it gain mass adoption as an online currency? Maybe but it's not too likely. Will lots of people invest in? Almost certainly. How about people in countries suffering hyperinflation who need a genuine need for an alternate currency? Sure. Now imagine if a couple of institutional investors allocate just a tiny fraction of their total pool to this new asset class...
For institutional investors it is virtually impossible to hold bitcoin in any size due to the capital requirement. Most would have to hold a dollar of equity against a dollar of bitcoin assets. It just doesn't work. You also cannot net, which rules out most derivatives functions.
If it is not a medium of exchange then I cannot see how it can be a store of value.
There is a far easier hyperinflation fall back option as well... Dollar bills. Hence we have the irony that most of the world's poorest countries effectively 'lend' the US billions
And like gold, the supply of Bitcoin is limited. There will only ever be 21 million bitcoin. And supply slows over time. Where does the demand come from? Well that depends. Does it gain mass adoption as an online currency? Maybe but it's not too likely. Will lots of people invest in? Almost certainly. How about people in countries suffering hyperinflation who need a genuine need for an alternate currency? Sure. Now imagine if a couple of institutional investors allocate just a tiny fraction of their total pool to this new asset class... For institutional investors it is virtually impossible to hold bitcoin in any size due to the capital requirement. Most would have to hold a dollar of equity against a dollar of bitcoin assets. It just doesn't work. You also cannot net, which rules out most derivatives functions. If it is not a medium of exchange then I cannot see how it can be a store of value. There is a far easier hyperinflation fall back option as well... Dollar bills. Hence we have the irony that most of the world's poorest countries effectively 'lend' the US billions |
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Bitcoin, by 63schoefflin on Dec 18, 2018 16:05:55 GMT 1, Been making my weekly buys throughout this year.... hit all my targets and my bags are filled. I think I’m going to start increasing the buys at these prices. Now I have just been focusing on increasing my ETH and BTC stacks because they will probably be the first to bounce when the time comes. Luckily, I didn’t plan on cashing out in 2018 but I’m long term, unlike some folks.
Been making my weekly buys throughout this year.... hit all my targets and my bags are filled. I think I’m going to start increasing the buys at these prices. Now I have just been focusing on increasing my ETH and BTC stacks because they will probably be the first to bounce when the time comes. Luckily, I didn’t plan on cashing out in 2018 but I’m long term, unlike some folks.
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sparky999
New Member
🗨️ 714
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October 2013
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Bitcoin
Dec 18, 2018 16:50:20 GMT 1
via mobile
Bitcoin, by sparky999 on Dec 18, 2018 16:50:20 GMT 1, I did think that after my post. I'm pretty sure it was near the bitcoin peak that the sale was made, and the seller seemed to be going all in in crypto. I may have it wrong it was a year ago and I've been to sleep since then. Could well be right, i'm not sure. I've been into bitcoin since 2012. For years people just laughed at me or dismissed it. Then when price hit it's peak everyone suddenly wanted in. Got to love human nature. I'm pretty neutral on crypto now. I still like the basic principle but valuations got stupid and the number of scams out of control. Once a few of these altcoins get wiped out and people refocus on the few good ideas maybe progress can continue. Time will tell.
One of the smarter posts in this thread
I did think that after my post. I'm pretty sure it was near the bitcoin peak that the sale was made, and the seller seemed to be going all in in crypto. I may have it wrong it was a year ago and I've been to sleep since then. Could well be right, i'm not sure. I've been into bitcoin since 2012. For years people just laughed at me or dismissed it. Then when price hit it's peak everyone suddenly wanted in. Got to love human nature. I'm pretty neutral on crypto now. I still like the basic principle but valuations got stupid and the number of scams out of control. Once a few of these altcoins get wiped out and people refocus on the few good ideas maybe progress can continue. Time will tell. One of the smarter posts in this thread |
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Deleted
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Bitcoin
Dec 18, 2018 16:52:22 GMT 1
Bitcoin, by Deleted on Dec 18, 2018 16:52:22 GMT 1, And like gold, the supply of Bitcoin is limited. There will only ever be 21 million bitcoin. And supply slows over time. Where does the demand come from? Well that depends. Does it gain mass adoption as an online currency? Maybe but it's not too likely. Will lots of people invest in? Almost certainly. How about people in countries suffering hyperinflation who need a genuine need for an alternate currency? Sure. Now imagine if a couple of institutional investors allocate just a tiny fraction of their total pool to this new asset class... For institutional investors it is virtually impossible to hold bitcoin in any size due to the capital requirement. Most would have to hold a dollar of equity against a dollar of bitcoin assets. It just doesn't work. You also cannot net, which rules out most derivatives functions. If it is not a medium of exchange then I cannot see how it can be a store of value. There is a far easier hyperinflation fall back option as well... Dollar bills. Hence we have the irony that most of the world's poorest countries effectively 'lend' the US billions
Well that's not true at all. There are already Bitcoin futures. And there are loads of brokers that offer derivatives on Bitcoin already. In serious size too.
That's just nonsense. Is gold a good medium of exchange? When is the last time you bought something for a gold nugget?
Sure, but it's not the best solution... bitcoin is a far better one in many situations. And I don't think dollars will hold their reserve currency status for much longer.
And like gold, the supply of Bitcoin is limited. There will only ever be 21 million bitcoin. And supply slows over time. Where does the demand come from? Well that depends. Does it gain mass adoption as an online currency? Maybe but it's not too likely. Will lots of people invest in? Almost certainly. How about people in countries suffering hyperinflation who need a genuine need for an alternate currency? Sure. Now imagine if a couple of institutional investors allocate just a tiny fraction of their total pool to this new asset class... For institutional investors it is virtually impossible to hold bitcoin in any size due to the capital requirement. Most would have to hold a dollar of equity against a dollar of bitcoin assets. It just doesn't work. You also cannot net, which rules out most derivatives functions. If it is not a medium of exchange then I cannot see how it can be a store of value. There is a far easier hyperinflation fall back option as well... Dollar bills. Hence we have the irony that most of the world's poorest countries effectively 'lend' the US billions Well that's not true at all. There are already Bitcoin futures. And there are loads of brokers that offer derivatives on Bitcoin already. In serious size too. That's just nonsense. Is gold a good medium of exchange? When is the last time you bought something for a gold nugget? Sure, but it's not the best solution... bitcoin is a far better one in many situations. And I don't think dollars will hold their reserve currency status for much longer. |
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sparky999
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Bitcoin
Dec 18, 2018 16:52:51 GMT 1
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Bitcoin, by sparky999 on Dec 18, 2018 16:52:51 GMT 1, It's called the real world. Easy to forget when you're stuck in academia I suppose. Paul has revolutionised our understanding in at least 2 fields, has lined up more achievements (including a Nobel prize) and contributions to humanity than any of us will in multiple lifetimes, has advised (and well) governments around the globe helping (pro bono) several countries during currency and default crises, and he has systematically made the right call on the BS policies (including austerity and corporate tax cuts) you know-nothing fall for. And he’s an utterly decent and kind human being, humble and intellectually curious and open to challenges and dissonant opinions (and with probably 3 times your IQ judging from what you write), but honest and intolerant to BS as any intellectual should be (and that’s why you won’t easily see him working for the WH any time soon, independently from the colour of the administration). You are the running joke on the horizon, not him, sorry.
I had to study Krugmans work at Uni I can say with absolute honesty it was the greatest waste of time I ever spent, I learnt more in six months out of school in the real world than the years studying his shit.
It's called the real world. Easy to forget when you're stuck in academia I suppose. Paul has revolutionised our understanding in at least 2 fields, has lined up more achievements (including a Nobel prize) and contributions to humanity than any of us will in multiple lifetimes, has advised (and well) governments around the globe helping (pro bono) several countries during currency and default crises, and he has systematically made the right call on the BS policies (including austerity and corporate tax cuts) you know-nothing fall for. And he’s an utterly decent and kind human being, humble and intellectually curious and open to challenges and dissonant opinions (and with probably 3 times your IQ judging from what you write), but honest and intolerant to BS as any intellectual should be (and that’s why you won’t easily see him working for the WH any time soon, independently from the colour of the administration). You are the running joke on the horizon, not him, sorry. I had to study Krugmans work at Uni I can say with absolute honesty it was the greatest waste of time I ever spent, I learnt more in six months out of school in the real world than the years studying his shit. |
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