[Doly]

$this->bbcode_second_pass_quote('', 'A')nyway they are starting to question some of the historical 'Truths' about crypto, like how it's supposed to get stronger in bad economic times? Because it's sound money, unlike that evil Fiat currency that's leading us all to destruction.

[AdamB]

$this->bbcode_second_pass_quote('Doly', '
')Since bitcoin can't function without electricity, how could anyone expect it to do well when there is an energy crisis coming that may result in blackouts?

[Doly]

$this->bbcode_second_pass_quote('', 'C')rypto NEVER experienced this situation before and Bitcoin crashed below the previous peak which invalidated its "store of value" investment thesis.

[Plantagenet]

YO CARINKE: I want to congratulate you on your good timing on your recent purchase of BITCOIN.

Announcing what you were going to do in advance took some guts.

Congrats on picking that support level to buy more BITCOIN-----BITCOIN bounced right after you bought it, and my guess is you are up ca. 10%+ on your most recent purchases.

Still.......consider that this could just be a "dead cat bounce"......i.e. a short term positive move that briefly interrupts a longer, ongoing bear market.


Dead cat bounce or start of a turnaround?

Perhaps you should take some profits now? Maybe sell half of the new purchase and take those gains and let the other half ride?

That way you definitely lock in some profit from that great trade.

GOOD LUCK TO YOU.

[theluckycountry]

$this->bbcode_second_pass_quote('randomguyonabike', 'M')y prediction is that bitcoin will head to 10,000 or lower by the end of July...

[theluckycountry]

Coin addicts wonder why the rest of us despise Bitcoin, well let me state the reasons.

1/ It pollutes the planet by wasting untold extra gigawatts of Electricity
2/ Is an-needed suck on productive capital
3/ It's only major uses as circulating "money" are all criminal.
4/ It has spawned a generation of hucksters and grifters.
5/ It was all based on Lies, none of the touted benefits ever came to fruition.

It's one big pile of odious excrement that needs to go. A failed experiment in social freedom.

[vtsnowedin]

RAT POISON

[dauterman]

Cryptocurrencies are not currency. By definition a currency is backed by a government or other similar entity. There is no govenrment backing bitcoin or any other crypto.

Bitcoin is legal tender in El Slvador. Legal tender status means it can be used in trade and is accepted as payment. However, it is NOT backed by the full faith and credit of the government. This is an important difference.

Bitcoin traded as low as $86 in 2013. Has anything happened since 2013 that would justify the price rise from $83 to over $20,000? To me the answer is "no" - bitcoin has been accepted as legal tender in one central american coutnry, and is more accepted in trade internationally but in my opinion this does not justify the price going up around 24,000%.

Thus, in my opinion bitcoin is a bubble. My advice is to avoid any bubbled asset. I will neither buy (go long) not sell (go short) any bubbled asset. The reason for this is because financial markets can stay irrational longer than I can stay solvent.

v/r
dauterman

[Tanada]

$this->bbcode_second_pass_quote('dauterman', 'C')ryptocurrencies are not currency. By definition a currency is backed by a government or other similar entity. There is no govenrment backing bitcoin or any other crypto.

Bitcoin is legal tender in El Slvador. Legal tender status means it can be used in trade and is accepted as payment. However, it is NOT backed by the full faith and credit of the government. This is an important difference.

Bitcoin traded as low as $86 in 2013. Has anything happened since 2013 that would justify the price rise from $83 to over $20,000? To me the answer is "no" - bitcoin has been accepted as legal tender in one central american coutnry, and is more accepted in trade internationally but in my opinion this does not justify the price going up around 24,000%.

Thus, in my opinion bitcoin is a bubble. My advice is to avoid any bubbled asset. I will neither buy (go long) not sell (go short) any bubbled asset. The reason for this is because financial markets can stay irrational longer than I can stay solvent.

v/r
dauterman

[AdamB]

$this->bbcode_second_pass_quote('dauterman', '
')Bitcoin traded as low as $86 in 2013. Has anything happened since 2013 that would justify the price rise from $83 to over $20,000?

[Plantagenet]

Bubbles in investments aren't always bad things......in fact, Overvaluation and bubbles are an intrinsic part of capitalism.

In fact the goal of investors is to buy low----sell high, i.e. buy something BEFORE the bubble and then sell it at the peak.

And its much easier to buy something at a decent price then it is to spot the top and sell at the right time.

The trick is to buy a stock, a tulip, a beanie baby, a house, a BITCOIN, or whatever....... BEFORE the bubble and then sell at the PEAK of the bubble.

Its easy to see a bubble after its popped.

AND Yes, cryptocurrencies have been in a bubble.

Similar, the stock market has been in a bubble.

But those bubbles are now popping.

The housing market is in a bubble.

That bubble is just starting to pop.

And there is a new bubble in oil prices.....that bubble is still inflating.


Bubbles are part of capitalism......the old saying "buy low sell high" means buy BEFORE the bubble and SELL when the bubble is inflated

Cheers!

[theluckycountry]

I wouldn't include oil in that list. It's suffering from volatility, sure, but the price rises we have seen are more in line with basic monetary inflation. The insane 2008 run up was perhaps a bubble, I wouldn't call today's rises that though. Look at Gold. It began the new century at $250, now it's at $1800. Gold; silver, food, houses, anything you can name has gone up by 100's of percent in the last 20 years, so why not oil?

Back in 2000 oil was US$ 30/Bbl, now it's $100 a barrel, a 330% increase roughly. Looking at the 25 year chart and evening out the volatility, it makes a pretty consistent line up. No different than anything else aside from the manipulations (of Fear action) along the way

https://tradingeconomics.com/commodity/crude-oil

Now @AdamB can come in and say something intelligent about Queensland and Bananas.
Not that I'll see it though lol lol.

[AdamB]

$this->bbcode_second_pass_quote('theluckycountry', '
')Now @AdamB can come in and say something intelligent about Queensland and Bananas.
Not that I'll see it though lol lol.

[Plantagenet]

$this->bbcode_second_pass_quote('theluckycountry', 'I') wouldn't include oil in that list. It's suffering from volatility, sure, but the price rises we have seen are more in line with basic monetary inflation.

[theluckycountry]

$this->bbcode_second_pass_quote('Plantagenet', '
')
If something basically quadruples in price in two years is that a price bubble? I think it clearly is a bubble.

[EnergyUnlimited]

$this->bbcode_second_pass_quote('dauterman', 'C')ryptocurrencies are not currency. By definition a currency is backed by a government or other similar entity. There is no govenrment backing bitcoin or any other crypto.

[vtsnowedin]

$this->bbcode_second_pass_quote('EnergyUnlimited', '')$this->bbcode_second_pass_quote('dauterman', 'C')ryptocurrencies are not currency. By definition a currency is backed by a government or other similar entity. There is no govenrment backing bitcoin or any other crypto.

[Plantagenet]

$this->bbcode_second_pass_quote('theluckycountry', '
')Well you're starting from the contango, so it doesn't really apply does it.

[vtsnowedin]

Fear not!! the oil companies can see that the Biden administration will be ham strung come November and out of office in 2024. They can and will hold their cash and wait out the Biden administration before they dip a single drill bit into new ground or cut a permit for a refinery expansion.
Yesterdays non meeting pretty much set that policy in concrete.

[Doly]

$this->bbcode_second_pass_quote('', 'F')or instance, who ever expected Putin to turn into ADOLPH PUTIN and try to conquer Ukraine? Totally unheard of, right?