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Old 05-02-2021, 01:08 PM   #21
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It is speculative. It is not useful as a currency on any meaningful sense. Touting it as an actual currency I think you lose people really quickly.

As a speculative investment with no intrinsic or fiat value, crypto attracts speculators. Same folks who went long on heavily shorted stocks.

Now, I do admire the passion some holders have for crypto. I tend to doubt it will end well.

Could crypto run further from here? absolutely. lots of room to run either up or down.

There was even a thread here where someone was suggesting bitcoin as a cash alternative for CDs and there like, which to me completely misses the point of why people want to hold CDs.

I like a good speculation as much as the next person but I don't put 5-10 percent of assets into speculation. Most prudent folks I think would agree.
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Old 05-02-2021, 01:57 PM   #22
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Last post on this matter but big finance is getting into Bitcoin in a big way,

Stan Druckenmiller
Bill Miller
Elon Musk
Mark Cuban
Marc Andreessen

They have billions in invested in bitcoin and other cryptos. These people are visionaries and all see the value in bitcoin. There will come the time where you will need bitcoin but you will garner only a fraction of what you would buy today. Coinbase market cap would put it in the top 100 of companies in the S&P500 right around Gilead Sciences and General Motors, indicating I think that prudent investors believe there is real value in this space.
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https://www.early-retirement.org/forums/f44/why-i-believe-we-are-about-to-embark-on-a-historic-bull-market-run-101268.html
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Old 05-02-2021, 03:26 PM   #23
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Last post on this matter but big finance is getting into Bitcoin in a big way,

Stan Druckenmiller
Bill Miller
Elon Musk
Mark Cuban
Marc Andreessen

They have billions in invested in bitcoin and other cryptos. These people are visionaries and all see the value in bitcoin. There will come the time where you will need bitcoin but you will garner only a fraction of what you would buy today. Coinbase market cap would put it in the top 100 of companies in the S&P500 right around Gilead Sciences and General Motors, indicating I think that prudent investors believe there is real value in this space.

Remember when some folks were saying the Internet is just a fad? I donít know which cryptocurrencies will survive, but a few will thrive.
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Old 05-02-2021, 05:05 PM   #24
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Remember when some folks were saying the Internet is just a fad? I donít know which cryptocurrencies will survive, but a few will thrive.
And there-in lies the problem. Instead of buying Amazon stock back in the day, I bought E-toys.
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Old 05-02-2021, 05:13 PM   #25
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And there-in lies the problem. Instead of buying Amazon stock back in the day, I bought E-toys.
Some sort of sector bet? (just spitballin'......)
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Old 05-02-2021, 06:37 PM   #26
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Why the need to invest 10% of one's portfolio in bitcoin, which is a currency (or at least they want you to believe it is) when I don't invest 10% in euros, or yen, or rubles.
That. I'm not saying it won't go up more, I'm saying I haven't speculated in currencies up to this point, and don't plan on starting now.
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Old 05-09-2021, 10:29 PM   #27
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Old Today, 06:29 PM   #28
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Uh oh. What Elon giveth, Elon taketh away.

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