The major leg down hasn’t happened yet. We’ll chop around here till breaking down. I’d say we’ll check the 24-25k maybe 28k but I wouldn’t hold till then before crashing to the 12-13K range. I think we’ll both be fine. My biggest investments is still in land and real estate because that’s what I’m good at but I do think it’s a bigger risk to not at least hold a small portion in Bitcoin.
do you project that the world will be more or less digital in the future. I predict more, so I want to be exposed around 5% of my net worth in Bitcoin. now other cryptos I wouldn’t be in at all right now because I don’t think once regulation hits it will be kind to them and I think 90 to 95% are going to zero just like in the dot-com crash.
Bitcoin is a solution still in search of a problem. At least with ethereum you know what the platform does and enables. It might not be worth the market rate but it's clear it's a technology platform with an actual purpose (smart contracts, etc). Bitcoin isn't a currency and sure as hell isn't an inflation hedge. I'm not up to speed on what it's new purpose is yet. It's like BTC was the proof of concept for a block chain, but has been left in the dust when it comes to using a digital ledger for anything of value except pure speculation.
It is a transaction system of settlement is how Americans should view it. But smart contacts can and are done over Bitcoin. It is an inflation hedge in a lot of the world but we just live with tallest midget out of the fiat currency so we don’t need the volatility for getting out of the dollar short term. now if you live in Turkey, Argentina, or other places with hyperinflation and can’t get into the dollar. Bitcoin is a inflation hedge
I read where eth mining is stopping. This shit is all confusing to me but when it stops, what happens to eth?
Eth is changing from proof of work to proof of stake. Eth is most likely a security and isn’t decentralized and has a board running it, so they premine and can change, or coin it however they want right now.
You can, but if the bits don't get some electricity, the money can evaporate. In a few years, maybe even now, there are going a be a lot of people who learn flash drives need to be plugged in every now and a again...
Yeah gold dropped quite a bit in the 08/09 crash. when people are getting liquidated. They’re forced to sell assets and that drives the price down. the good thing about Bitcoin is that in the down turns you can see the addresses that sell. Generally 85-90% don’t sell not matter how ugly it gets and 10-15% are the ones being selling
If you can loan against it, you don't have to sell. Which would give me a lot of pause, because it means if those loans got called in... it would be an instant crash. Instant. Poof.