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Bitcoin up $30k in a month...
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Neminem Laedit
Posted: 27 December 2020 11:25:45(UTC)
#1

Joined: 17/09/2018(UTC)
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a very happy ending to a most excellent investing year...
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Guest on 27/12/2020(UTC), Ex NAPS on 10/02/2021(UTC)
DIY Investing
Posted: 27 December 2020 13:13:38(UTC)
#4

Joined: 29/09/2018(UTC)
Posts: 3,827
It might pull back but I’m still buying small amounts here and there.

I prefer other cryptos with proper use cases, but bitcoin is the one everyone knows. I don’t think it’s ‘the new gold’, but the way in which it’s found it’s way into the psyche of so many is a bit gold like. Maybe it shouldn’t have any value but currency debasement of central banks has given it value as an alternative long term store of wealth.

Sure it could go to zero, but if even just one percent of the global population decided to buy some the price could go through the roof.

Even a 1% allocation could have a massive impact on a portfolio, but if it goes to zero it wouldn’t matter that much.
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Jonathan Godden
Posted: 27 December 2020 15:25:46(UTC)
#5

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'They came on in the same old way and we defeated them in the same old way'
Thus said Arthur Lord Wellesley.
I stick to what I know and BTC I just don't get.
Too old and fixed in my ways, I guess.
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Easyrider on 28/12/2020(UTC), Paul Dowie on 15/11/2022(UTC), John Bran on 04/01/2023(UTC), JohnW on 07/06/2023(UTC)
Laurence O'Brien
Posted: 27 December 2020 16:03:35(UTC)
#6

Joined: 04/12/2014(UTC)
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Jonathan Godden;143469 wrote:
'They came on in the same old way and we defeated them in the same old way'
Thus said Arthur Lord Wellesley.
I stick to what I know and BTC I just don't get.
Too old and fixed in my ways, I guess.


Me neither. I only invest in what I could explain to an 8 year old and I just don’t understand BTC.
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2 users thanked Laurence O'Brien for this post.
Easyrider on 28/12/2020(UTC), Laura Sommer on 14/04/2021(UTC)
Mr Helpful
Posted: 27 December 2020 16:38:19(UTC)
#11

Joined: 04/11/2016(UTC)
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"We never want to count on the kindness of strangers,
in order to meet tomorrow's obligations."
WB
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ANDREW FOSTER on 27/12/2020(UTC), Tim D on 27/12/2020(UTC), MBA MBA on 27/12/2020(UTC)
Tim D
Posted: 27 December 2020 16:54:42(UTC)
#9

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Laurence O'Brien;143478 wrote:
Me neither. I only invest in what I could explain to an 8 year old and I just don’t understand BTC.


8 year olds are probably quite well equipped to understand the dynamics of bubbles and manias. They'll be familiar with stories of:
- The Emperor's New Clothes.
- The Pied Piper.
- The Magic Porridge Pot.
- Jack and The Beanstalk.
All relevant in various ways.
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3 users thanked Tim D for this post.
Easyrider on 28/12/2020(UTC), Maheschandra Rajani on 05/12/2021(UTC), John Bran on 04/01/2023(UTC)
knock rock
Posted: 27 December 2020 17:24:51(UTC)
#12

Joined: 27/09/2018(UTC)
Posts: 73
Do not think the fairies are always little. Everything is capricious about them, even their size. They seem to take what size or shape pleases them.
WB (Yeats).
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Foxtrot
Posted: 27 December 2020 17:40:52(UTC)
#13

Joined: 01/05/2017(UTC)
Posts: 418
BTC might even be regulated one day and put an end to speculators losing more than their shirts
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Jonathan Godden
Posted: 27 December 2020 17:41:11(UTC)
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Tim D;143483 wrote:
Laurence O'Brien;143478 wrote:
Me neither. I only invest in what I could explain to an 8 year old and I just don’t understand BTC.


8 year olds are probably quite well equipped to understand the dynamics of bubbles and manias. They'll be familiar with stories of:
- The Emperor's New Clothes.
- The Pied Piper.
- The Magic Porridge Pot.
- Jack and The Beanstalk.
All relevant in various ways.


Don't forget the singing, ringing tree.

A more joyless, creepy expression of hopelessness I cannot conseive of
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1 user thanked Jonathan Godden for this post.
Tim D on 21/05/2021(UTC)
Tim D
Posted: 27 December 2020 18:05:54(UTC)
#14

Joined: 07/06/2017(UTC)
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Foxtrot;143495 wrote:
BTC might even be regulated one day and put an end to speculators losing more than their shirts


The net is tightening, at least in the US (but the US believe their financial regulations have global reach)...

Recently announced regulations on self-hosted wallets: https://www.theverge.com...lations-private-wallets (this one's quite amusing... "be your own bank" was for a long time a crypto rallying cry. Well guess what... banks are actually subject to some pretty onerous regulations.)

Regulation of so called "stable coins". https://www.forbes.com/s...-could-mean-for-crypto/ . (The US has deep suspicion of private currencies originating in the wildcat banking era https://en.wikipedia.org/wiki/Wildcat_banking - unsurprising this is something they're looking at). Related, China unlikely to be happy with USDT's role in evading capital controls: https://asia.nikkei.com/...unders-150bn-from-China

One view is that the current surge is one last-gasp big pump-and-dump effort for the whales to unload their bags on FOMO suckers before the off-ramps are closed. We'll see.
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3 users thanked Tim D for this post.
Foxtrot on 27/12/2020(UTC), ANDREW FOSTER on 27/12/2020(UTC), dlp6666 on 28/12/2020(UTC)
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