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Speculative bubble, it almost sounds like what I read in 1928 when buying on margin became a thing. "Everyone ought to be rich" and boom, you can buy stock by only putting 10% down.
When people say they have bitcoin, the association is the price in USD rather than as a digital currency. It's too worriesome. I put some in GBTC and had that go up 1.5x total. It had gone up 2x but that kind of hit when it's seen such a short term logarithmic increase is straight out scary. I also can't skim like I can with ETFs, ETNs, etc.
I generally do some pretty volatile trades, even some based on pure speculation, but I can put a price and risk tolerance on almost everything I do. With Bitcoin I have no idea what's going to happen and it's scary to invest into something like that. My strategy with it is if I have fck it money, I'll throw it at GBTC, but my mind is too wired to actively manage volatile trades than to let it sit. I'm up over +200% ytd, I don't want to destroy that with a bad throw at bitcoin.
We don't use bitcoin specifically for two reasons. One is that the poor shouldn't have a currency whose value goes up and down a lot compared to their local currency. Second is that if a mistake is made in who you pay then you need to be able to reverse it so anonymity wouldn't work.
The foundation is involved in digital money but unlike Bitcoin it would not be anonymous digital money. In Kenya M-pesa is being used for almost half of all transactions. Digital money has low transaction costs which is great for the poor because they need to do financial transactions with small amounts of money. Over the next 5 years I think digital money will catch on in India and parts of Africa and help the poorest a lot.
Doesn't sound like Bill's "bullish" on bit coin, but more bullish on a digital currency being available for people in poverty stricken areas due to low cost of transactions.
Can you post something where Mr. Gates reversed his opinion on Bitcoin?
Or where he claimed that Bitcoin is a good investment opportunity?
He also has said "nobody can stop Bitcoin."
and also...
“Bitcoin is better than currency in that you don’t have to be physically in the same place and, of course, for large transactions, currency can get pretty inconvenient.”
This actually brings up another great issue is that much of the world is unbanked or doesn't have access to banking and Bitcoin and other cryptocurrencies gives them to the ability to store money, send money, and receive money outside of traditional banking
Speculative bubble, it almost sounds like what I read in 1928 when buying on margin became a thing. "Everyone ought to be rich" and boom, you can buy stock by only putting 10% down.
When people say they have bitcoin, the association is the price in USD rather than as a digital currency. It's too worriesome. I put some in GBTC and had that go up 1.5x total. It had gone up 2x but that kind of hit when it's seen such a short term logarithmic increase is straight out scary. I also can't skim like I can with ETFs, ETNs, etc.
I generally do some pretty volatile trades, even some based on pure speculation, but I can put a price and risk tolerance on almost everything I do. With Bitcoin I have no idea what's going to happen and it's scary to invest into something like that. My strategy with it is if I have fck it money, I'll throw it at GBTC, but my mind is too wired to actively manage volatile trades than to let it sit. I'm up over +200% ytd, I don't want to destroy that with a bad throw at bitcoin.
I forget the actual stats but read a study that when Bitcoin was trading at say $3400 or $3600 people in GBTC were actually paying the equivalent of something like $4300 for their BTC.
Honestly I'm not that familiar with it, what is the aim of that fund, to track BTC price?
“Bitcoin is better than currency in that you don’t have to be physically in the same place and, of course, for large transactions, currency can get pretty inconvenient.”
This actually brings up another great issue is that much of the world is unbanked or doesn't have access to banking and Bitcoin and other cryptocurrencies gives them to the ability to store money, send money, and receive money outside of traditional banking
The first quote I can't source. Every reference to it either is from Bitcoin forums or link a Bloomberg video interview, where (as far as I can tell) Gates never makes the statement.
The second quote was in response to a specific question about Bitcoin during the aforementioned Bloomberg video interview, where Bill Gates immediately steers away from Bitcoin and towards digital currency technology in general, as it could help third world nations which have no banking systems but which do have cell phone technology.
Despite your claims, it doesn't sound like Bill Gates is "very bullish on Bitcoin". Not at all.
I forget the actual stats but read a study that when Bitcoin was trading at say $3400 or $3600 people in GBTC were actually paying the equivalent of something like $4300 for their BTC.
Honestly I'm not that familiar with it, what is the aim of that fund, to track BTC price?
Supposedly. It benefits from not having much competition and being able to use dollars (rather than exchange like a currency). That's what the premium seems to be. At the moment the premium is over 100% (scary... this whole bitcoin thing feels like the mania stage of bubble). I hear some people trade it based off of buy low premium, sell high premium. In theory, it's trading as if bitcoin is in the $9k range. Insane.
I might wait until Oct 9th-ish when that SEC meeting occurs. Supposedly it'll correct the premium, but I have no idea. It in itself seems to have value over the fact that it holds bitcoins. Overbought.
Yes, bitcoin is interesting. I think this can make good money if there are large investments. But I do not have much money, so I want to try the bitcoins with a credit card. I think this is a good option - https://bitcoinbestbuy.com/credit-debit-card/
Yes, bitcoin is interesting. I think this can make good money if there are large investments. But I do not have much money, so I want to try the bitcoins with a credit card. I think this is a good option - https://bitcoinbestbuy.com/credit-debit-card/
No - it's not a good option, when the government is making rumblings about really taking a close look at bitcoin. Run to the exits and invest in real companies who are making real profits.
Geez.
Yes, bitcoin is interesting. I think this can make good money if there are large investments. But I do not have much money, so I want to try the bitcoins with a credit card. I think this is a good option - https://bitcoinbestbuy.com/credit-debit-card/
If your have to put Bitcoin on a credit card you probably shouldn't be buying Bitcoin. Not saying if you want to use a credit card but if you don't have the cash and are literally using credit for money you don't have then don't invest.
Bitcoin is too up and down and while there are stories of people maxing out credit cards and mortgaging their houses and literally becomming millionaires if we have a pullback that takes months to correct, not saying it's gonna happen but it's possible, then your screwed.
That said Coinbase is my preferred place to buy Bitcoin, you can use a credit card and you get your coins instantly. A better option if you have cash is using Coinbases sister site GDAX.
It's your money do what you like but investments involve risk so always invest what you can afford to lose as they say and I would say Bitcoin is a younger market and more volatile than stocks and other things so keep that in mind.
No - it's not a good option, when the government is making rumblings about really taking a close look at bitcoin. Run to the exits and invest in real companies who are making real profits.
Geez.
I would have to say I disagree with you. First world governments in Europe and other places are beginning to accept Bitcoin, I believe Bitcoin is now legal tender in Japan. While I'm not saying governments won't ever regulate or take action on Bitcoin I doubt the USA is going to isolate itself from business over the world if the rest of the world accepts it. Also the whole poitn of Bitcoin is it can't be stopped by the government, sure they can regulate or even shut down exchanges and I agree that would probably hurt the price but Bitcoin itself can't be shutdown, only the exchanges can but you still have peer to peer markets.
The CME Chicago Mercantile Exchange is going to begin trading futures within weeks, banks are getting involved, Bitcoin IMHO isn't going to be shutdown by the government anytime soon and honestly many people would welcome regulation as right now it's the wild west and market manipulation is completely legal. Also looks like a Bitcoin ETF may happen within the next year as well something which had previously been voted down by the SEC.
You then have privacy coins like Monero, Dash and others that the government can't do anything about as they are privacy coins.
Not sure if you have an understanding of Bitcoin and how it works but making sweeping statements like this is kind of doing a disservice to giving people the whole picture.
It's amazing, if you had bought $1000 worth of bitcoin in April 2011 you would have $2.7 million right now LOL!!!
How about 27 grand worth of them at $23 each? but no, I was persueded to go with Silver and rode from 16 to $37 then jumped off. Wuda shuda coulda.
Had Microsoft and Intel back in 1984 but did not hold them either.
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