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JayDee


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Bitcoin.. Who understands its value.
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Not sure which area to put this question in, but I have chosen "I Digress"

Have any members invested in bitcoin.???

And are you happy re the investment.????

Do the 5 senses come into play with Bitcoin?

 The five senses are the five main tools that humans use to perceive the world. Those senses are sight, smell, hearing, taste, and touch. We see with our eyes, we smell with our noses, we listen with our ears, we taste with our tongue, and we touch with our skin.

 If so, then would you still invest.

I guess that the same principle also applies to the Sharemarket.

Anyway will be interesting to hear of the results from members.

 



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dorian


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Tesla just bought US$1.5 billion worth of Bitcoin, so Elon Musk must like it as an investment. Of course the value of Bitcoin jumped soon after, so I'm wondering if Tesla cashed in?

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Izabarack


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JayDee wrote:

Have any members invested in bitcoin.???

And are you happy re the investment.????

I guess that the same principle also applies to the Sharemarket.

 

 As an investment, Crypto currencies are no more than a bet on herd behaviour.   Better than the Stock market because you can make large gains overnight.   Some folk I know bought BTC for under $100.    They are multimillionaires now because they took a lot of the value out and invested elsewhere in things like businesses and property and gold.

As a store of value, it is only worth what someone else will give you for it.    Its a bit like being religious, you only get value if you mix with other like minded people who share the same belief system.

As a vector for exchange, very useful across international boundaries and for operating Off Grid.   Some of the Coins issue Debit Cards the can be used at enabled EFTPOS points.   

 



-- Edited by Izabarack on Wednesday 10th of February 2021 08:50:10 AM

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Mike Harding


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Izabarack wrote:
 As an investment, Crypto currencies are no more than a bet on herd behaviour.

I though that was how world stock markets worked?

'Cause they sure as hell have no basis in logic or considered finance - it's all a casino by another name.



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msg


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Yep. Studied finance at Uni. That was the conclusion we came to. Gambling. or kept up with inflation. but over time earned general bank rates. occasionally you hit the jackpot, just like gambling.

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Mike Harding


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Interesting BBC article on the energy consumption caused by Bitcoin - it seems Elon Musk is nowhere near as green as he may like us to believe.

Link



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dogbox


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Mike Harding wrote:

Interesting BBC article on the energy consumption caused by Bitcoin - it seems Elon Musk is nowhere near as green as he may like us to believe.

Link




who would be paying the energy bill ?

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Mike Harding


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dogbox wrote:
who would be paying the energy bill ?

 In many cases it is companies who have no idea what the people in their IT departments are doing.

 



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Plain Truth


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Warren Buffet would be someone who knows what the value of something that is traded on the market.

bitcoin.JPG



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Mike Harding


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Plain Truth wrote:

Warren Buffet would be someone who knows what the value of something that is traded on the market.

bitcoin.JPG

 One could say the same about gold?



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Plain Truth


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Mike,Gold has other uses.

gold.JPG

 



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Mike Harding


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Plain Truth wrote:

Mike,Gold has other uses.

True, it does.

But I suspect its value is so high because the vast majority of the world's gold is held as a financial asset rather than because of its industrial worth unlike say tantalum and similar.

Of course, long gone are the days when the wording on a pound note which read "I promise to pay the bearer" had any meaning, no(?) country now carries enough gold reserves to cover the value of issued currency. Indeed if one looks at the USA economy it is so far into the red it's currency should be worthless junk paper but it isn't because people "believe" in it, same as bitcoin.

After the totally unforeseen GFC it became very clear to me that the whole world financial system is smoke and mirrors and *no one* understands it - why the hell there is a Nobel Prize for economics is way beyond me, may as well have one for guessing which days this coming month will have rain.



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dorian


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It seems that cryptocurrencies have finally been exposed as the Ponzi schemes that they really are, but what about non-fungible tokens. Are they the new scam?

https://en.wikipedia.org/wiki/Non-fungible_token



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Whenarewethere


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dogbox wrote:
Mike Harding wrote:

 

Interesting BBC article on the energy consumption caused by Bitcoin - it seems Elon Musk is nowhere near as green as he may like us to believe.

Link


 


who would be paying the energy bill ?

 

 The Bitcoin investors, one of the costs. Also don't forget that it is taxable. People seem to have a strange idea that these things are not part of their income.

 

I don't have any Bitcoin or similar things.



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Wanda


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Ponzi schemes for the rich and famous who have the money they can afford to lose! And then there are the stupids, who can't afford to lose it, you will not hear from them unless they just happen to time it right!!!!
Gambling for the rich
The share market is a big enough gamble for me, but at least you own something real, not just a token!!
Ian

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