Is a bit coin a good investment?
Abehunter
Posts: 286 ✭✭✭
Any thoughts?
0
Abehunter
Posts: 286 ✭✭✭
Comments
I have a degree in finance and can say that you can't predict whether the prices of any assets, such as Bitcoin, will go up or down. Don't keep all your money in one asset - diversify. Experts recommend keeping only about 1% of your money in crypto because it is so volatile [risky].
Are you trying to get banned?
?no ,just asked a question, should I not?
It has nothing to do with US coins, sleigh this thread won't create much trouble. However coupled with your similarly off topic Trump thread, you seem to be looking for trouble.
Ok,I'll delete, thanks
Best to ignore this guy since he would rather criticize you by assuming you are "looking for trouble" instead of educating you by suggesting you read the rules of posting on the forum.
The rules can be found here:
https://forums.collectors.com/discussion/1016634/pcgs-forum-rules-and-guidelines#latest
In my opinion you should post this Bitcoin discussion under the Precious Metals category not in the US Coins category since you are asking if Bitcoin is a good investment.😎
You could talk to your financial planner. That would be safer, just saying
No, no good thoughts.
Think like Levi Strauss. We need wallets and purses for our bit coin.
Why don't you go and comment on the Trump coin thread before it gets closed?
Your criticism is laughable since you are constantly complaining about what people are posting. You really should see someone about your obsession with me. It's not healthy.
This^^
I wonder why good financial planners go to work? I want council from an expert who does not have to get a job.
Jim Cramer calls it a “nothingburger”. Kinda my POV as well.
Bitcoin is a pyramid scheme as is all air money investment with the top person doing ok and suggesting it is wonderful.
Your choice but around here you will find a large number of opinions and really is a personal preference.
Kinda the old collect what you like.
My 2 percent as always 😉🦫🙀
🎶 shout shout, let it all out 🎶
A bit coin and a bitcoin are two very different things.
Bitcoin is a terrible investment. And I've been saying that since it was $10
Tom
Any money put into Bitcoin is a "speculation", not an "investment".
The same is also true for most stocks (if you plan to just sell later on and do nothing in regards to running the company).
Assets that are as volatile as cryptos are not good investments. They are however great speculative plays when one buys the dips, sells the highs and repurchases on the next dip. Wash, rinse, repeat.
Over the last decade cryptos have been the mother lode of volatility plays.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
No more speculation then hoarding gutter metal in your bunker. Same thing actually.
The whole worlds off its rocker, buy Gold™.
If you buy any commodity without a specific use in mind and your plan is simply to sell later at a higher price, then that is also a "speculation" and not an "investment".
99% or more of all people with significant wealth generated in the crypto universe are either early adopters who HODL'd, platform developers/creators, or miners. Despite all the daytrading and dip buying strategies out there, there are a miniscule number of successful traders out there over the past year as crypto prices have mostly fallen. You either stopped washing, rinsing, and repeating last fall, or are likely being taken to the cleaners.
Or were successful in using volatility to your advantage. This is an accepted and respected form of trading with equities, but it does not apply to other highly volatile assets?
Last fall was when the volatility really picked up and became an opportunity for those who closely follow the market.
Prior to the last year of volatility, the Hodlers were correct with their buy and hold strategy. Due to the sudden drop and volatility in the past year Holders got hammered if they continued to Hodle. The money to be made in the past year was buying low and selling high on a repeat basis, not buying and holding. Volatility can be opportunity to those who closely follow a volatile market. For example bullion bankers make fortunes trading the even small dips and highs in spot prices on the bullion futures exchanges.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Pull up an 8 year bitcoin price chart, and compare to this general chart of the pattern of a typical fad or mania asset price trend
Liberty: Parent of Science & Industry
According to your chart there's a whole lot of profit to be made, even with tulips. LOL
Simple, buy low sell high. Don't HODL about.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
ETH is the new BTC play.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Well a little while back I got $5 worth of free bitcoin from a Paypal promo of some sort. Honestly back in the day I thought Bitcoin was a joke...just like when Jose Canseco's Juiced book first came out. I agree though that just like with gold there's just very little if any room for growth and both if anything are due for a bubble burst. Still, I got it free so I can't really lose, you know, playing with the house's money?
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Well it's payday. Bitcoin purchase......check, Ethereum purchase......check, physical gold purchase.......check, paper gutter purchase......check, oil, solar, wind, lithium stocks purchases......check, cash in the bank.....check. Nothing like being diversified. Sleep like a baby. RGDS!
The whole worlds off its rocker, buy Gold™.
Senior Commodity Strategist at Bloomberg Intelligence says Bitcoin and Ethereum will recover to all-time highs.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
I have a better reason for you why it will never happen.
The BTC and crypto mania didn't happen in isolation. It's a side consequence of the greatest asset mania of all time. The one we are in now centered around credit and debt.
It didn't happen in isolation, and I don't believe it could have given the scale.
Added more BTC today. RGDS!
The whole worlds off its rocker, buy Gold™.
Currently, the best investment as of this writing is under your mattress.
How does that beat Treasury bills in any way?
Far from it. Your paper dollars are losing value by the day (inflation). Buying anything you need now is a better investment than cash regardless of where you stash it. FWIW SoFi bank is offering 2.5% on checking and savings if you do a monthly allotment to the account.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
I think what morgansforever meant is that all investments and assets seem to be going down right now. So holding on to cash might be the best option. Yes, short term Treasury Bills will pay interest and if you hold to maturity you will do OK (but still not keeping up with inflation). Longer-term bonds will lose value as interest rates go up.
I bonds are paying 9.6%
Crypto like all assets isn’t an investment. If you can take the risk get some if you can’t don’t.
My current registry sets:
20th Century Type Set
Virtual DANSCO 7070
Slabbed IHC set - Missing the Anacs Slabbed coins
This is very a good idea if you have sufficient liquidity and a place to store it. Buy everything you need at current prices that you will use later eligible for long-term storage.
Prepaying future consumption is the best long-term inflation hedge if your personal circumstances accommodate it.