Current Events > How stable is Bitcoin as an investment right now, you think?

(+) Yeah! (+)

It's back to $23+ k. This was the magic number for that it had to climb back to before I'd get back into it again. But I'me a little worried atp.

Do you all have Bitcoins in your portfolios?

Bitcoin isn't an investment, it's a scam

If it was stable it wouldn't be crypto. The entire point is that it's the electronic version of tulips.

Which would you regret more? They price skyrocketing and you didn't invest? Or investing your money and watching it tank?

It's not stable at all, but IMO is a reliable long term investment.

Invest in a real stock like Apple or some shit if you want to pay a billion dollars per share and not lose money

Fed meeting is coming up soon. It could be a pump due to that with a possible dump after. But no one really knows for sure. People are thinking the Fed is eventually going to pause interest rate hikes later this year, then well sit at current rates for a bit before the Fed starts cutting rates and printing money again. At least that seems to be the consensus from economists and tax people I follow.

In theory, when the Fed pivot happens and they start printing money again, stocks and crypto should moon. The Bitcoin halving is also coming in 2024, which will make it harder to mine Bitcoin.

But do your own research. Not financial advice etc. I just continue to dollar cost average.

Bibimbap posted...

Fed meeting is coming up soon. It could be a pump due to that with a possible dump after. But no one really knows for sure. People are thinking the Fed is eventually going to pause interest rate hikes later this year, then well sit at current rates for a bit before the Fed starts cutting rates and printing money again. At least that seems to be the consensus from economists and tax people I follow.

In theory, when the Fed pivot happens and they start printing money again, stocks and crypto should moon. The Bitcoin halving is also coming in 2024, which will make it harder to mine Bitcoin.

But do your own research. Not financial advice etc. I just continue to dollar cost average.

Yeah that's cool, thanks, That's I bought in at 23 before, then it went slightly up, then it started going down hill hast. I just stopped buying. I was a little worried I was like DAYUM, this about to be one of my biggest off the wall losses. Pulled out at like 22 for 600. Ben watching the dream die ever since.

Bitcoin has never been and will never be remotely stable.

And do not take crypto advice from SMAL. Or any kind of advice, for that matter.

When is a ponzi scheme a good investment?

The bitcoin wagons long sailed, so if you didn't invest during the pandemic you can forget about making any super gains.

Prismsblade posted...

The bitcoin wagons long sailed, so if you didn't invest during the pandemic you can forget about making any super gains.

People were saying the same thing when I started buying under $4k (same as the pandemic low).

people who are honest and informed about btc's technology and economics are very concerned about the long-term sustainability of the network. as miner rewards decrease exponentially with halvings, the original assumption was that miners would be sustained by rising transaction fees.

however, with btc largely being used as a speculative/hoarding asset instead of peer-to-peer transfers, whatever p2p transfers often occurring in state channels to reduce transaction overhead, and little other utility to drive transaction fees like smart contracts, the fee revenue is not nearly enough to match historical mining revenue. btc's long-term health assumes it either being the supreme distributed payments network accruing all fees everywhere without competition, or the price magically going up exponentially forever, neither realistic.

if the miner operations cannot be sustained, they'll drop out, hashing power will fall, and the network could eventually become vulnerable to hostile and well-resourced - state or corporate, for instance - actors that can 51% attack it.

with this in mind, i don't believe bitcoin is a stable long-term investment.

SuperShake666 posted...

When is a ponzi scheme a good investment?

When youre Charles ponzi or Satoshi

https://youtu.be/o2McnYVsLGE

SuperShake666 posted...

When is a ponzi scheme a good investment?

Can you please, in brief, explain how this is a Ponzi scheme? I'm not even trying to disagree. I would just like to hear some more elaboration.

EndOfDiscOne posted...

People were saying the same thing when I started buying under $4k (same as the pandemic low).

That doesn't make this a trend. Nor has bitcoin existed anywhere near long enough even to have one.

As for now unless another 2020 occurs any who invested at or around its peak are SoL.

Cocytus posted...

Can you please, in brief, explain how this is a Ponzi scheme? I'm not even trying to disagree. I would just like to hear some more elaboration.

Crypto inherently has no value, and instead has value because people put money into it. To some extent this is exactly how all currencies work, arguably literally anything that you don't actively need to survive also falls into this category, but with the idea that all currencies are backed by the stability that comes from a government saying "this is worth this much, and as long as we are around you can guarantee this level of value." All changes in value of a currency are made under that same pretense. That some world or political event changes can alter the value of a given currency, but it is all through the lens of the country in question having an expected level of "is still around." Inherently this is why currencies that are no longer valid do not have value beyond what a collector would pay for them: a currency is only as valuable as the value of its country.

Crypto, on the other hand, has all value based exclusively on the amount of money that has been put into it. There is no backer, it serves no inherent purpose beyond the ability to act as a currency, etc. If people stopped putting money into it it would inherently lose value as a function of being at bare minimum because of the electricity costs needed to pay for it. Thus its value is strictly tied to this influx of money. However, as with all things to do with capitalistic growth you must have new "investors" in the form of people coming in and buying/paying for the product. With a normal product like a phone the value is inherently tied into the fact that the thing in question is a good, thus you are not buying something under the pretense of value in terms of literal $'s but in the form of it giving you a service (even something as simple as a movie gives you the "service" of enjoyment), but with a currency you purchase it under the basis that it will allow you to turn into a good later into the future. And with crypto being almost exclusively viewed as an investment with no backing its value as a thing to purchase with is extremely weak, with only one not-exactly-legal pseudo country (assuming it's still around) actually accepting it. This means that you have an "investment" that only has value because people put money into it constantly and that it requires new users to prop up the older user's value, quite literally what we define a Ponzi scheme to be. While you can somewhat make the argument that Bitcoin isn't exactly a real Ponzi scheme, it comes at the cost of pointing out that its creator didn't actually want it to be anything other than proof of concept of a novel security system. This creates the extension that it isn't a valid investment as it is merely a tech demo of something entirely unrelated and is only being held up because Libertarians are functionally children whose entire existence is memes.

Basically, either you view it as not something to invest in as that is not its function, or you view it as a Ponzi scheme based on how you want to go about it from a purely economic perspective. Obviously this does not mean that you cannot make money out of it, but requires that you have some reason to believe that you can get someone else to hold the baggage.

https://youtu.be/M-L2wllD4vU

https://youtu.be/_BfrWRmoXDw

https://youtu.be/4zCjp91dv0U

Lol

Prismsblade posted...

That doesn't make this a trend. Nor has bitcoin existed anywhere near long enough even to have one.

As for now unless another 2020 occurs any who invested at or around its peak are SoL.

But see that's what I'm saying. If it goes to 23...24...25... ...if you got a little money you might want to spin the bottle around then before it goes higher.

ellis123 posted...

Basically, either you view it as not something to invest in as that is not its function, or you view it as a Ponzi scheme based on how you want to go about it from a purely economic perspective. Obviously this does not mean that you cannot make money out of it, but requires that you have some reason to believe that you can get someone else to hold the baggage.

Well you know I actually agree. It's the very thing that made me hold off for sooooooooooooo long before I tried to buy in. I sais to myself, pftt, this is monopoly money. It HAS to be a scam. But then I start seeing everyone taking it seriously and shit. I tried to take advantage I got clipped for it for a small amount :/

I bought an entire bitcoin when they first started cause I thought lol why not.

Then I destroyed that laptop and have forever lost access to said wallet. Fucking RIP.