Bitcoin or Gold???

[surfius]

I am almost sure that soon the entire market will be filled with bitcoin. Have you seen how much this currency has risen in the last couple of months? Despite the fact that there are times when bitcoin is falling a bit, if you are looking at the big picture, you will be surprised to see that its growth it's outstanding. Nobody knows how long this will last, but it's important to take advantage of it. A friend of mine has told me about BitScalp, a site where I was able to find charts related to the value of bitcoin. It's a lifesaver since I am able to see when to buy and when to sell

[srblanco7]

I am almost sure that soon the entire market will be filled with bitcoin. Have you seen how much this currency has risen in the last couple of months? Despite the fact that there are times when bitcoin is falling a bit, if you are looking at the big picture, you will be surprised to see that its growth it's outstanding. Nobody knows how long this will last, but it's important to take advantage of it. A friend of mine has told me about BitScalp, a site where I was able to find charts related to the value of bitcoin. It's a lifesaver since I am able to see when to buy and when to sell

I don't think you're going to convince most folks on this board the investing in bitcoin is a good idea, let alone (based on a quick scan of the site you linked) day-trading bitcoin.

[corn18]

Gold and BTC as a store of value? Hedges against inflation? Well, the market thinks not.

[Captain Save]

Gold and BTC as a store of value? Hedges against inflation? Well, the market thinks not.

how does the market say BTC or Gold is not a store of value or hedge against Inflation?
?

[corn18]

how does the market say BTC or Gold is not a store of value or hedge against Inflation?
?

Inflation fears are causing growth stocks to tank. Inflation fears should drive gold and BTC up. They didn't go up.

[Captain Save]

Inflation fears are causing growth stocks to tank. Inflation fears should drive gold and BTC up. They didn't go up.

The average American is not sitting at home worried about inflation ... but htere's been huge
adoption of Bitcoin in parts of the world where that is the case .. there is mass adoption in Turkey ,the philippines .. Venezuela Argentina, ETC.. the every day filipino has access to Bitcoin via sites like Coins.PH

The US has great advantage that it's the worlds reserve currency. but right now that's being threatened. especially because of digital currencies...

China is working on their Central Bank Digital Currency ..so the US is playing catch up as well. It's not a coincidence that the new SEC chairman is someone who was teaching blockchain technology at MIT. When he was sworn in this week that, he had to answer a bunch of questions about digital currency.. most of them were non answers but that's besides the point.

If the US dollar as world reserves status were threatened , and if that resulted in hyperinflation where the average american , don't you think a great percentage of Americans would seek refuge into Bitcoins and other cryptos?


Also.. I wouldn't agree with the fear of inflation being the reason stocks are down... if that's the case stocks should have been down all of 2020

[corn18]

The average American is not sitting at home worried about inflation ... but htere's been huge
adoption of Bitcoin in parts of the world where that is the case .. there is mass adoption in Turkey ,the philippines .. Venezuela Argentina, ETC.. the every day filipino has access to Bitcoin via sites like Coins.PH

The US has great advantage that it's the worlds reserve currency. but right now that's being threatened. especially because of digital currencies...

China is working on their Central Bank Digital Currency ..so the US is playing catch up as well. It's not a coincidence that the new SEC chairman is someone who was teaching blockchain technology at MIT. When he was sworn in this week that, he had to answer a bunch of questions about digital currency.. most of them were non answers but that's besides the point.

If the US dollar as world reserves status were threatened , and if that resulted in hyperinflation where the average american , don't you think a great percentage of Americans would seek refuge into Bitcoins and other cryptos?


Also.. I wouldn't agree with the fear of inflation being the reason stocks are down... if that's the case stocks should have been down all of 2020

Blockchain might be useful. Bitcoin is not and will not.

[Captain Save]

Blockchain might be useful. Bitcoin is not and will not.

Interesting statement but that has nothing to do with what we're talking about. Besides, bitcoin is being used right now to send money directly to bypass banks and govts in some of these countries I mentioned.. .Now will other cryptos be seen as more useful for that purpose ..quite possibly.. but again I don't think this is what we were talking about.

[corn18]

Bitcoin is useless therefore it is not a good hedge against inflation. Is that more clear?

[Captain Save]

Bitcoin is useless therefore it is not a good hedge against inflation. Is that more clear?

So you're saying that the remittance uses and people using it in those countries hit with hyperinflation.. is a lie?

[kork13]

Bitcoin is useless therefore it is not a good hedge against inflation. Is that more clear?

So you're saying that the remittance uses and people using it in those countries hit with hyperinflation.. is a lie?

I think the idea is more that, as an investment, bitcoin (unlike wheat that can be consumed or a company that produces profits) doesn't have another application, doesn't produce anything, and does not generate income. Bitcoin is purely a means of storing value, and hoping that in the future it will remain of value. Same is often said of precious metals & other currency speculation.

At least, that's one of the (multiple) reasons I personally avoid it.

[Captain Save]

I think the idea is more that, as an investment, bitcoin (unlike wheat that can be consumed or a company that produces profits) doesn't have another application, doesn't produce anything, and does not generate income. Bitcoin is purely a means of storing value, and hoping that in the future it will remain of value. Same is often said of precious metals & other currency speculation.

At least, that's one of the (multiple) reasons I personally avoid it.

I agree 100% with your assessment .. that is why it's very much like Gold... but to say it's "useless" is completely different. People do use it but there are other cryptos that can do what it does much better, faster and cheaper..

However, the value of anything including, gold, stocks and even real estate has a lot of to with speculation.. unlike Gold or Bitcoin some of these examples have a greater percentage of its value not tied to speculation. I think having a strategy where you don't touch anything that has no "intrinsic value" is a good one.

I don't invest in Gold.. & I have about $400 in Bitcoin and I probably put it in BTC only to move it to another crypto. Bitcoin is the gateway to the Crypto world. Many of these crypto projects have real use cases and they do produce products & services that people are using today. Fortunately or unfortunately , Bitcoin drives that market, though I can see a time where people think to themselves why should I put my money on BTC when I have this product that banks need and gets utilized every day. Just like today , most of us say "what is the point in holding Gold". However, Gold still has the mindshare and the branding as the inflation hedge.

Right now Bitcoin has the mindshare & is the top brand of the crypto world , which is most likely where we are all headed... just look at who's your newly appointed SEC chariman.

[amarowsky]

i don't think bitcoin is useless. It is crazy to think that total bitcoin market cap is also up to 910 Billion USD worth of value. This has to mean that bitcoin at least holds $919 billion worth of trust.

I don't know what to think of bitcoin. It's insanely volatile, yet, abruptly growing in value over the last 2 years roughly. I heard someone explain it as, "a complex and interesting solution to a problem we don't really have". One thing that really makes me nervous.... is the non-stop advertising and pushing bitcoin has been getting from media (mainstream in many cases I hear). Typically most financial instruments that mainstream media is pushing, the harder they push it, the more skeptical I get.

There is no more denying bitcoin or crypto currencies, as a substantially important speculative investment. But beyond that, I don't think there is any good/bad advice around it that is "black and white". Maybe the best advice anyone can give surrounding crypto, is to purchase/sell/avoid/hold it with trepidation and consideration.

I think greed, hope, mystery, envy, desperation, and curiosity have been the prime reasons crypto in general has remained so popular. I'm keeping a safe distance from it, while trying to read & observe more.

[corn18]

Ya'll should buy some NFT's, too. Add crypto to anything these days and people will buy it.

[QuarterMillionMan]

New paradigm will be 60/20/20, securities, bonds, bitcoin/gold, respectively.