BITCOIN

Klaus

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The premise of crypto is an ever increasing "store of value"

How is that working out for you?

outside of government control and easily transferable.

The IRS taxes crypto as property and if you do not pay you are fined or imprisoned. Even more hilariously you have to pay your taxes on crypto in fiat currency.

It is not easily transferable relative to other options.

Other than that you are spot on.

The more volatility, the more chances of making a profit on investing in crypto.

And the more chances to lose money as you and almost all other crypto "investors" have done.

Bitcoin was never meant to be a stable currency substitute. Ever.

Sure thing.
 

cobracide

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How is that working out for you?
With a by-in cost of $500 a coin it is still my greatest investment coup.

The IRS taxes crypto as property and if you do not pay you are fined or imprisoned. Even more hilariously you have to pay your taxes on crypto in fiat currency.

It is not easily transferable relative to other options.
Crypto can't control government manipulation from outside in aspects such as taxation. It just shows how corrupt and greedy governments go and why crypto is needed more than ever. There is a reason governments are making it as difficult and expensive as possible to use crypto.

Other than that you are spot on.



And the more chances to lose money as you and almost all other crypto "investors" have done.



Sure thing.
Seeing the correlation of BTC to the SP500 I posted above. This correlation will become the norm here on out. BTC is no more risky than an SP500 index fund or growth stock. Alt-Coins - with the exception of Eth - very risky and that's why I avoid them. Alt-coins are like meme stocks.
 

cobracide

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How did that work for the Canadian Truckers?

Not well obviously. It can be done with private wallets. Crypto exchanges are still needed if and when you want to exchange back to fiat. Mixers have come into play and just now starting to get blacklisted. There are alt-coins that are way more secure and cannot be tracked. Yes, exchanges are the weak link and it's not a crypto tech issue per se - but a "conversion to fiat" issue. It is an evolving technology only 15 years old and the problems can and will be fixed.

Again, this shows the need for transfer of wealth outside government control and proves the need for crypto more than ever.
 

Klaus

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want to exchange back to fiat.

You do not even seem to realize there is no point to crypto. If you need to convert it in and out of fiat that means the value is based on fiat. You are paying a shitload in transaction costs and taking exchange and fraud risk for nothing.

The most entertaining aspect of the bitcoin chapter has been listening to the bros attempt to explain what it is and why it exists. None of them actually know the answer to either of these questions.
 

cobracide

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. If you need to convert it in and out of fiat that means the value is based on fiat.
When relative value changes between exchanges from fiat and crypto - you are based in crypto. The same argument can be made for investing in anything, Gold, stocks ect. Look up capital gains/losses.


You are paying a shitload in transaction costs and taking exchange and fraud risk for nothing.
Transaction fees vary and they can be manipulated very easily to minimize by extending transaction time by a few minutes.

The most entertaining aspect of the bitcoin chapter has been listening to the bros attempt to explain what it is and why it exists. None of them actually know the answer to either of these questions.

BTC was born out of the 2007 financial crisis for obvious reasons. I've explained multiple times "the why" and "the what". There are plenty of guides on the web for "the how".
 

Klaus

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With a by-in cost of $500 a coin it is still my greatest investment coup.

And yet you are down by 50% ytd. You hedged your position with futures, right?

What % of crypto accounts are positive? I would bet <20%.

By the way you are talking the talk of a ponzi asset. Those that were early in the ponzi scheme can still do well of they get out at the right time.
 

cobracide

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And yet you are down by 50% ytd. You hedged your position with futures, right?

What % of crypto accounts are positive? I would bet <20%.

By the way you are talking the talk of a ponzi asset. Those that were early in the ponzi scheme can still do well of they get out at the right time.

My growth stocks are down just as much - so by the same token - the nasdaq and SP500 must be ponzi schemes too.

Hedging for future growth - you have again described every investment vehicle on the planet. Profound.
 

Klaus

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My growth stocks are down just as much - so by the same token - the nasdaq and SP500 must be ponzi schemes too.

Hedging for future growth - you have again described every investment vehicle on the planet. Profound.

"it is just a speculative asset" does not have the same ring to it as "it is a currency" or "it is a store of value."

So we are in fact on the same page that it is the same as beanie babies.
 

KilledbyKenne

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All these comments could be dated 2018 and no one would even notice the difference. Lol

~85% drawback on BTC in the last bear market and all the naysayers were saying the same things basically.

How does the saying go? It's not about timing the market. It's about time in the market? Guess what...that goes for crypto too. Anyone that has been in it least 2 years is in the money. Just have to not get emotional with your trading and sell after a drop. Even people that bought at the absolute peak in 2017 are in the green assuming they still hold their original position.
 

MG0h3

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"it is just a speculative asset" does not have the same ring to it as "it is a currency" or "it is a store of value."

So we are in fact on the same page that it is the same as beanie babies.

Crypto seems to move right along with the stock market.

What a revolution against the “system”!

Bet those NFL players that took it as a paycheck are real happy about now lol.


Sent from my iPhone using the svtperformance.com mobile app
 

cobracide

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"it is just a speculative asset" does not have the same ring to it as "it is a currency" or "it is a store of value."

So we are in fact on the same page that it is the same as beanie babies.
"it is just a speculative asset" does not have the same ring to it as "it is a currency" or "it is a store of value."

So we are in fact on the same page that it is the same as beanie babies.

Well lets see..

Your changing argument goes from "stablecoin needed for crypo to function" (false) to "beanie babies went to zero" (irrelevant) as BTC is at $30k.

Detractors will always go with the "no purpose" "what is it" "why" arguments. These are either deflections or just comments of someone who just doesn't get it and this is a waste of time.
 

Klaus

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Well lets see..

Your changing argument goes from "stablecoin needed for crypo to function" (false) to "beanie babies went to zero" (irrelevant) as BTC is at $30k.

Detractors will always go with the "no purpose" "what is it" "why" arguments. These are either deflections or just comments of someone who just doesn't get it and this is a waste of time.

It is because I get it that it so laughable. Your entire thesis falls apart three questions in.
 

Klaus

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All these comments could be dated 2018 and no one would even notice the difference. Lol

~85% drawback on BTC in the last bear market and all the naysayers were saying the same things basically.

How does the saying go? It's not about timing the market. It's about time in the market? Guess what...that goes for crypto too. Anyone that has been in it least 2 years is in the money. Just have to not get emotional with your trading and sell after a drop. Even people that bought at the absolute peak in 2017 are in the green assuming they still hold their original position.

What is the intrinsic value of bitcoin? I am not asking the price, I am asking the value. What is the basis for this value? Enlighten me.
 

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