"Bitcoin is too volatile to be a store of value"

Discussion in 'Crypto Assets' started by Daal, Jun 1, 2021.

  1. Trader Curt

    Trader Curt

    You either believe in it or you don't. To most people, this is a speculative asset, and I agree, a big part of it is. But what's behind it is people who want control of their own money without the use of a bank. This is what seperates the long term investors from the panick selling speculators
     
    #11     Jun 1, 2021
    Sprout and johnarb like this.
  2. Overnight

    Overnight

    To be honest, I think this one is more scary. BTC can be all lalalala, sitting on the pad. And THEN boomage.

     
    #12     Jun 1, 2021
  3. Trader Curt

    Trader Curt

    ^^ That was a prototype rocket with no people inside. I think it's fine that that rocket exploded, in fact I'm glad that rocket exploded so now they can make them more safer for people to ride in.
     
    #13     Jun 1, 2021
  4. ElCubano

    ElCubano

    It all depends on where you enter the instrument, what your cost average may be period. When it went from $20k to $3k it gets pretty hard to look at anything long term :D.

    Did I mention I also missed the boat? :D
     
    #14     Jun 1, 2021
    johnarb likes this.
  5. Overnight

    Overnight

    That rocket is never going to work for getting people to orbit safely and back again, much less to Mars. It's Elon Musk being all Astronaut Farmer and shit.
     
    #15     Jun 1, 2021
  6. johnarb

    johnarb

    It's easy to beat up on bitcoin when it's on a downtrend or in a bear market. It is the reason all naysayers could not get themselves to buy btc when it was $3K or when it was $300

    What if you can look ahead instead of this current downtrend? What if you can imagine bitcoin at $100K, $200K or $300K in the future?

    Would it not make sense to buy 1 bitcoin or 2, or 5 bitcoins today?

    Reminds me of a very wise poster below when bitcoin was mid $6K and he gave a very good advice that the ET bitcoin critics chose to ignore. Incidentally, his very last post on the CC forum


    [​IMG]
     
    #16     Jun 1, 2021
  7. Trader Curt

    Trader Curt

    That mother fucker.....
     
    #17     Jun 1, 2021
  8. Pekelo

    Pekelo

    That is why you wait for a 50% drop first. Going from 10K to 3K is a completely different experience. :)
     
    #18     Jun 1, 2021
  9. Pekelo

    Pekelo

    I think we already agreed that the last argument left for bitcoin was PRICE. So forgive me if we keep pointing it out. Also the new usecase:

    Future of money>>Store of value>>Collectors item
     
    #19     Jun 1, 2021
  10. Specterx

    Specterx

    "Store of value" isn't the same as being a useful portfolio contributor. VC investments for example are common in portfolios, but nobody would call them "stores of value".

    What you really want to know is whether BTC will be a useful portfolio contributor out to 2040 or whatever. There's a lot of reasons to think not, so best to model with conservative assumptions.
     
    #20     Jun 1, 2021