Pedant

Bitcoin just hit a new ATH. Seems to be about rising speculation on a Trump win.

airsail said..
it's going to zero, just watch , maybe it will be worth a tulip.

Today my Bitcoin investment has gone four times since 14 June 2022. And this latest bull run is just getting started.

So that's a profit of just over $110 for every single day.

#ITOLDYOUSO

Is it correct that Trump has suggested that the government will buy Bitcoin and have it in the reserve?

So much for Bitcoin not being able to be manipulated by the government. They could sell and buy it to change the price, just like any other currency.

Trumps sacking gensler so theyre wont be much more can kicking all the mms been poop scooping and have now realised they dont have any other choice so have all bought into GME in the last week its gonna go for another run vanguard now owns more then the ceo and the cat

Toot toot all aboard

That reminds me gotto set half mine to sell at hmmm... 48us? Whatd it hit last time 70? I cant tell if theyre just gonna collectively loan em all out or if its actually gonna proper nuke

What's a bull trap?

Cant find my bloody passport so i cant sell my bitcoin!! watched it dip from 99 back to 97 now shes back up but god damn! Need the $$ so i can buy a laptop so i can photoshop my friends fetus into a bucket of kfc (the new baby scanning imagery looks delicious)

So.....

its the currency of the sovereign citizen, free of central control and government interference, but...... you need a passport to sell it ?

I'm wondering what cause the AUD to be at parity with the US about 10 years ago. Of course that was the year I couldn't travel there. Perhaps it will happen again?

myusernam said..
Thats cool and all.but i would have fealt uneasy. Anyway if you had used that for a deposit and leveraged into an ip worth 500k you would have made more. And be on track to make more, and it would argueably be safer

For $500K I could have taken a loan to buy a 2br flat in Melbourne as an IP, which would now be worth less than what I would have paid for it.

myscreenname said..

myusernam said..
Thats cool and all.but i would have fealt uneasy. Anyway if you had used that for a deposit and leveraged into an ip worth 500k you would have made more. And be on track to make more, and it would argueably be safer

For $500K I could have taken a loan to buy a 2br flat in Melbourne as an IP, which would now be worth less than what I would have paid for it.

Yeah but yr probably not a full retard. A cursory google would have pointed you to perth or townsville. Perth was a sure thing at that time. You would be up at least 250k net.
Perth considerably more. Yr bitcoin will go up and down on its trajectory upwards. Yr 500k house at mandurah would be worth what now?
And melbourne isnt far off if your time line is a bit longer. In fact you could have bought a second or third house in the first 6 months drawing back on the equity ,and have a bit over 2 million working for you. And it would cost u f.all out of pocket with the yields in those markets. Doesnt take much of a rise.with over 2m working for u to make yr bitcoin gains small. You can barely replace a house for 500k anymore (not including land) and with vacancy rates of 1% and a booming population the sleep at night factor is still better than having money in bitcoin imho. Not trying to be a prxck - u started the discussion.

myscreenname said..

It's an interesting thought, that I will put to all the seabreeze ecconomic 'experts', like airsail and FormulaNova who have experience in all matters financial. 1BTC can buy a lot of tulips.

Is BTC going up in value, or is the $US going down the drain?

I hope your BTC are buying you happiness, but it seems it just makes you angrier. At some point you will realise that money helps but doesn't always mean happiness.

For the record, I have been surprised at how well bitcoin has done. I have never invested in it and probably never will.

One of the things you do in economics is study historical events and see what causes them. Part of this includes recognising that not everything follows the logical path that you think it does, and to then sit back and work out why something happened or happens. That helps you understand the future and try and predict things.

I remember thinking years ago 'if someone in a Jaycar store tells you about how he is going to make a fortune from Bitcoin' then maybe everyone thinks its a winner and it has no value. But, it seems that the way to make money from it is to ride the waves and sell off when it rises enough for you. Relying on lots of random people to invest in it that are just hoping for a windfall. But I would never have thought that would have worked, the same as I wouldn't have thought houses prices would keep rising when it seems irrational to me.

It is a worry when a thread on Bitcoin is one of the most popular threads, created by someone just to pump up bitcoin.

Ian K said..

I also thought bitcoin would die years ago. Is there consensus that the ups and downs are manipulated by big syndicates? If the average punter can be lucky enough to identify and surf their manipulations, maybe? Poker hasn't died, there are still pro card sharks out there I suppose. A clever bit of cryptography to come up with the idea and get it working, but it's got no more substance than a pack of cards.

I'd assume a decade ago the price would have been manipulated by whales every so often. But now it's a mainstream asset: number 7 of the world's most valuable assets. Whale manipulation would be increasingly difficult to orchestrate for any length of time. As for a clever bit of code to bring it all crashing down. I would think that would have happened by now.

companiesmarketcap.com/aud/assets-by-market-cap/

Ian K said..

Wasn't saying a clever bit of code will bring it down. Was saying it was clever to start with. Mr Bitcoin had anticipated and closed any loopholes. You'd need to assemble number crunching power greater than all the miners put together to hack into the blockchain.

There is a threat to bitcoin from quantum computing in that it could likely be used to brute force the private key from the public one. But there are steps being taken now to make bitcoin quantum resistant.