OT: Ray, how's your Bitcoin investment going?

[CKT88]

Thought it might be interest to reup this thread and get current takes given where things currently are…not an expert…just a curious observer.

[Hilltopwalters]

Been waiting for this for some time. Time to wait and see. Whatever happens, happens.

[HenryA]

Not so good in El Salvador.

https://futurism.com/el-salvador-bitcoin-economy

[redir]

As Warren Buffett once said it is wise for investors to be “fearful when others are greedy, and greedy when others are fearful.”

[Burning Pines]

still a pyramid scheme, with disastrous ecological consequences as a bonus.

[rallizes]

Originally Posted by Burning Pines

still a pyramid scheme, with disastrous ecological consequences as a bonus.

well that never stopped anyone

[C40_guy]

There's an old saying "when in wartime, sell guns"

I'd be long on gaming/mining gear, and maybe on electrical generation plants.

In fact, anyone holding NVDA is long on mining gear...1YR return 79%.

[nickl]

Originally Posted by C40_guy

There's an old saying "when in wartime, sell guns"

I'd be long on gaming/mining gear, and maybe on electrical generation plants.

In fact, anyone holding NVDA is long on mining gear...1YR return 79%.

The worm has turned on NVDA as it has lost more than 25% of its value since 12/1/21, most that this month. Down almost 1.5% today alone.

Not saying it’s a bad company but recently most crypto related investments have sunk well below typical correction territory. Most of the smart money is taking a wait and see approach and don’t consider this a buying opportunity…..yet.

[slowpoke]

Granted, the market dropped today, but $COIN is at an all time low.

But $PTON, who would've thought it'd drop this much???

[HenryA]

Originally Posted by Burning Pines

still a pyramid scheme, with disastrous ecological consequences as a bonus.

X a trillion. ^^^^^^^^

[Louis]

Originally Posted by Burning Pines

still a pyramid scheme, with disastrous ecological consequences as a bonus.

And the sooner the whole thing collapses the better IMO.

That doesn't mean that one can't find perfectly legitimate applications for blockchain, but "currency" speculation really doesn't need to be one of them.

[Burning Pines]

Originally Posted by Louis

And the sooner the whole thing collapses the better IMO.

That doesn't mean that one can't find perfectly legitimate applications for blockchain, but "currency" speculation really doesn't need to be one of them.

I'm sure my anarchist-adjacent politics are well outside of the norm here, but I can see the utility of a currency that allows small-scale trade between parties outside of the control of a government, particularly in places where state issued currency is unreliable. Bitcoin has never been that. In fact, it's never been a functional currency at all, and never can be with the wild swings in valuation and massive energy cost for simple transactions. Seems useful for laundering money from arms sales, though.

[Louis]

Cryptocurrency prices on a log Y scale.

If only I had been more of a risk-taker when I first started this thread back in April of 2013...

This plot only shows BTC back to 2015, but Wikipedia says: "In early April 2013, the price per bitcoin dropped from $266 to around $50 and then rose to around $100")

Or if we had all bought D in 2020...

But I doubt my stomach could had taken all the ups and downs.

https://www.nytimes.com/2022/01/27/b...smid=url-share

[rice rocket]

Originally Posted by HenryA

Not so good in El Salvador.

https://futurism.com/el-salvador-bitcoin-economy

El Salvador president is definitely just crypto-bro gambling with their central bank's money.

[Tony T]

and…. back at 42,000