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 Stirlingsays  08 Mar 21 8.42pm |
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Originally posted by SW19 CPFC
Probably. Especially if it stays as it is now - investment first, currency.. well, a long way last Yellen is not a fan. At all. She’d be Adam of a government regulated, blockchain based Fiat though. As soon as people actually start spending it en masse and it therefore starts threatening Fiat, it’s game over. And even that is debatable regarding whether it will ever move away from mass FOMO investment. I can see a coin doing that but I don’t think it will be Bitcoin. And even if it does it is highly unlikely to make mainstream without, and as you love to say, becoming a cuck to the existing financial setup. As someone has said there are plenty of other coins that came post BTC that are far better positioned to be adopted as actual currency. ETH being one. As I’ve said before it could easily get to 100k or more, sure. But has it got legs? Nope.
For myself I've all my current investment in ETH but still, I think I'll take a more optimistic and friendly contrarian view on BTC's future. I'm of the view that ultimately they can't stop it, only hinder it as going to war with it would be like prohibition. Their problem is the large corporate take up and the technologies advantages....The corporate take up is largely under reported but it's there when you look at the ownership....who sells on a correction and who doesn't. There is already a considerable pro Crypto lobby. As we know the problem with fiat is shown in the image. I think some form of mid term compromise will be found....similar to what you suggest of limiting it to a store of value....but long term it'll win out in some form due to boom and bust cycles. But as I'm a fan of decentralisation in most forms I would say that. I'll make a little prediction (just an opinion obviously)....I think BTC will rise to near or around 80k (USD) before heading down for a gradual correction for a year.
'Who are you and how did you get in here? I'm a locksmith. And, I'm a locksmith.' (Leslie Nielsen) |
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Attachment: | Tom-the-eagle Croydon 19 May 21 3.17pm |
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Several months of huge gains but now in free fall! Are people holding or getting out?
"It feels much better than it ever did, much more sensitive." John Wayne Bobbit |
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| Stirlingsays 19 May 21 3.18pm |
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Originally posted by Tom-the-eagle
Several months of huge gains but now in free fall! Are people holding or getting out? Holding Eth and thinking of buying more.
'Who are you and how did you get in here? I'm a locksmith. And, I'm a locksmith.' (Leslie Nielsen) |
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| chris123 hove actually 19 May 21 3.34pm |
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Storing wealth in anything this volatile is beyond me.
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| Tom-the-eagle Croydon 19 May 21 3.40pm |
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Originally posted by chris123
Storing wealth in anything this volatile is beyond me. Think of it more as a gamble than an investment Chris
"It feels much better than it ever did, much more sensitive." John Wayne Bobbit |
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| chris123 hove actually 19 May 21 3.51pm |
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Originally posted by Tom-the-eagle
Think of it more as a gamble than an investment Chris I don't understand it Tom - so not for me.
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| Tom-the-eagle Croydon 19 May 21 4.08pm |
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Originally posted by chris123
I don't understand it Tom - so not for me. It’s all smoke and mirrors
"It feels much better than it ever did, much more sensitive." John Wayne Bobbit |
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BlueJay  UK 19 May 21 4.16pm |
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Originally posted by chris123
Storing wealth in anything this volatile is beyond me. I don't own any cryptocurrency myself but I do find it a fascinating area, and with volatility comes a big up side, not only a down. It pays to consider that anyone having faith in Bitcoin at any point in time over the past decade+ and holding until recently will have done very well out of it. The energy usage aspects of Bitcoin might increasingly plague its reputation going forward though. I believe Ethereum and others have plans to mitigate that so could be good choices. With Increasing inflation and low interest rates, it would appear to at least make 'some' sense to consider crypto, gold, stocks (especially if they tank again), property. Currency will likely just keep losing value unless governments implement more significant interest rate changes (fat change).
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| Stirlingsays 19 May 21 4.26pm |
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The value of governmentally controlled currencies are only going to decrease. One of the main points behind the development of cryptocurrency is that it's decentralised as in its value can't be directly controlled by government.....hence they can't 'print' more of it. The technology cryptos like Bitcoin are built upon is the blockchain, which....when you read up on it is the future of modern currency....I think this is practically accepted within twenty years. In my view, what you are witnessing now are large investors (called Whales) looking to lower the price considerably and get small investors (called retail) to panic and sell so that they can hoover up.....this was all started by Musk himself who even said he wasn't selling himself. In the view of many, including me, you will soon see Bitcoin and others recover fast....probably back up to mid fifties by the end of the month. Edited by Stirlingsays (19 May 2021 4.28pm)
'Who are you and how did you get in here? I'm a locksmith. And, I'm a locksmith.' (Leslie Nielsen) |
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| Runningman Keston 20 May 21 9.16pm |
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I said to a mate a few months back, I was astonished at how much energy it used to mine new coins. Could never be a good thing in this increasingly ecology focussed world !
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| Tom-the-eagle Croydon 20 May 21 9.25pm |
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Originally posted by Runningman
I said to a mate a few months back, I was astonished at how much energy it used to mine new coins. Could never be a good thing in this increasingly ecology focussed world ! This is worthy of a post in its own right. Apparently the amount of energy that is generated by crypto mining/blockchain in 1 day is the same as the Absolutely staggering! Has actually put me off buying again.
"It feels much better than it ever did, much more sensitive." John Wayne Bobbit |
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| BlueJay UK 23 May 21 6.04pm |
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Originally posted by Tom-the-eagle
This is worthy of a post in its own right. Apparently the amount of energy that is generated by crypto mining/blockchain in 1 day is the same as the Absolutely staggering! Has actually put me off buying again. I believe there are going to be advancements, specially with Ethereum and co that make this an issue of the past. The arse continues to fall out of the crypto market today. Will likely be a good buying opportunity now or soon, though of course there are risks in trying to catch a falling knife!
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