Thread: Thoughts about the short and medium term future of crypto

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  1. #11  
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    I'm enough of a believer in Bitcoin that most of the time I want it to go down so that I can buy more. Unfortunately, it hasn't worked out that way very often recently. I'm with you though, Karim. The growth potential on these things is unbelievable. Nothing in finance is even similar in most ways.
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  2. #12  
    Senior Member Kemalettin Sert's Avatar
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    I believe in crypto and use it daily since it came out however i dont think BTC should worth more than few dollars at all.
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  3. #13  
    Senior Member Karim D. Ghantous's Avatar
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    Quote Originally Posted by Kemalettin Sert View Post
    I believe in crypto and use it daily since it came out however i dont think BTC should worth more than few dollars at all.
    For better or worse, we don't have a say in it. I would prefer silver to be $1/oz, but it isn't. ;-) Crypto assets are worth exactly as much as the market dictates. I don't even have a problem with the market volatility. You could argue that volatility is inseparable from early growth. But, crypto solves a lot of problems, and brings advantages. It's a rare event in human history when a new asset class is invented. Even if you don't like it, you can profit from it.
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  4. #14  
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    I'm with you Karim. To the moon!
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  5. #15  
    Senior Member Jacek Zakowicz's Avatar
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    To me it spells trouble if an "asset" is created from thin air by unknown entities. There always have been and will be speculators and snake oil salesmen that want to sell "Brooklyn bridge " to you. Your decision if you want to buy it. And if indeed this is a Brooklyn bridge or a sustainable asset. But not being based on tangible goods or precious metal, or economical prowess to me is a pretty hard sale. But not to all I guess...
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  6. #16  
    Senior Member Karim D. Ghantous's Avatar
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    Cheers, Justin. I just wish I had more cash to buy the XRP dip. ETH mining is now lucrative again, but for several reasons I don't think I'm going to be able to get into it soon enough. In a year, maybe two, ETH will be POS only and you won't be able to mine it anymore.

    Quote Originally Posted by Jacek Zakowicz View Post
    To me it spells trouble if an "asset" is created from thin air by unknown entities. There always have been and will be speculators and snake oil salesmen that want to sell "Brooklyn bridge " to you. Your decision if you want to buy it. And if indeed this is a Brooklyn bridge or a sustainable asset. But not being based on tangible goods or precious metal, or economical prowess to me is a pretty hard sale. But not to all I guess...
    All top tier crypto projects are developed by known entities. E.g. Polkadot, Ethereum, Digibyte, Cardano, Chainlink, XRP, etc., etc. Bitcoin might be the exception, but it's decentralised anyway, so you can't take it back now. It belongs to everyone and no-one.

    Lots of people own shares in companies that don't pay dividends. Is that a good idea? I don't think so. Bonds have very low yields these days, AFAIK. There's nothing wrong with precious metals, but they aren't going to grow as quickly as cryptocurrencies. I wish I bought silver when it was about $5.

    When I heard about crypto, I had some objections. Once those objections were resolved, and once I saw the utility and the security that crypto offered, I started buying with what little spare money I had at the time. I could have done it more intelligently, but you have to make mistakes to learn.

    Here's a thought exercise: if Bitcoin is created from thin air, try and get one for free. You can try downloading, forging your own, or plucking one out from the blockchain. ;-)
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  7. #17  
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    Quote Originally Posted by Karim D. Ghantous View Post
    Cheers, Justin. I just wish I had more cash to buy the XRP dip. ETH mining is now lucrative again, but for several reasons I don't think I'm going to be able to get into it soon enough. In a year, maybe two, ETH will be POS only and you won't be able to mine it anymore.



    All top tier crypto projects are developed by known entities. E.g. Polkadot, Ethereum, Digibyte, Cardano, Chainlink, XRP, etc., etc. Bitcoin might be the exception, but it's decentralised anyway, so you can't take it back now. It belongs to everyone and no-one.

    Lots of people own shares in companies that don't pay dividends. Is that a good idea? I don't think so. Bonds have very low yields these days, AFAIK. There's nothing wrong with precious metals, but they aren't going to grow as quickly as cryptocurrencies. I wish I bought silver when it was about $5.

    When I heard about crypto, I had some objections. Once those objections were resolved, and once I saw the utility and the security that crypto offered, I started buying with what little spare money I had at the time. I could have done it more intelligently, but you have to make mistakes to learn.

    Here's a thought exercise: if Bitcoin is created from thin air, try and get one for free. You can try downloading, forging your own, or plucking one out from the blockchain. ;-)
    Well there are billions of dollars invested in marketing/sales of crypto currency. They are used by highly skilled , extremely talented individuals. No wonder many people are convinced. That does not change the fact that they were created from thin air. Currency has begun as a number assigned to tangible goods produced. A number agreed upon by all involved parties. That has been a pillar of traditional currency value. Crypto has not been created that way. Hence the thin air descriptor. Maybe I'm over- simplifying but these are the basics that our society has functioned and evolved on for millenia. Obviously there have been attempts at disruption throughout the history. As for safety- IMO banks are by far the safest for keeping money. Simply because they have too much to lose...
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  8. #18  
    Senior Member Kemalettin Sert's Avatar
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    Quote Originally Posted by Karim D. Ghantous View Post
    Cheers, Justin. I just wish I had more cash to buy the XRP dip. ETH mining is now lucrative again, but for several reasons I don't think I'm going to be able to get into it soon enough. In a year, maybe two, ETH will be POS only and you won't be able to mine it anymore.



    All top tier crypto projects are developed by known entities. E.g. Polkadot, Ethereum, Digibyte, Cardano, Chainlink, XRP, etc., etc. Bitcoin might be the exception, but it's decentralised anyway, so you can't take it back now. It belongs to everyone and no-one.

    Lots of people own shares in companies that don't pay dividends. Is that a good idea? I don't think so. Bonds have very low yields these days, AFAIK. There's nothing wrong with precious metals, but they aren't going to grow as quickly as cryptocurrencies. I wish I bought silver when it was about $5.

    When I heard about crypto, I had some objections. Once those objections were resolved, and once I saw the utility and the security that crypto offered, I started buying with what little spare money I had at the time. I could have done it more intelligently, but you have to make mistakes to learn.

    Here's a thought exercise: if Bitcoin is created from thin air, try and get one for free. You can try downloading, forging your own, or plucking one out from the blockchain. ;-)
    Karim Bitcoin is not created to people make money out of it and buy lambos..its created to replace currency in digital era.Yes i totally understand why you want bitcoin price to be million dollars we all aware of it but thats not the main reason bitcoin exist.
    Same thing can be said for Tesla right now Tesla worth more than total 10 other biggest car companies but this is bubble.People buy stocks to become rich and market price doesnt dictate its real worth for Tesla even Elon Musk thinks this way.
    You may not be using bitcoin in your daily life i can understand that but i also do not wanna pay $10-20 for a transaction fees for bitcoin and i find it absurdly funny.
    More stupid people buys crypto and expect to be millionaire one day and thats the only reason why Bitcoin is around $30K today..Simple as it is..Not a rocket science..
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  9. #19  
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    Quote Originally Posted by Kemalettin Sert View Post
    Same thing can be said for Tesla right now Tesla worth more than total 10 other biggest car companies but this is bubble.People buy stocks to become rich and market price doesnt dictate its real worth for Tesla even Elon Musk thinks this way.
    It's not wise to compare two assets in different asset classes (although it can work if you are doing pure technical analysis). Stocks generate value, whereas precious metals store it. Different concepts.

    Tesla's price is overvalued, based on what profits they are making now. They might grow to be larger than VW or Toyota, or maybe not. I don't know. Anyway, Bitcoin doesn't represent anything except itself - just like gold.

    The price increase of Bitcoin will eventually slow down, and maybe we'll see $1M by 2030. What Bitcoin I have (less than one) is going to be worth much more than my superannuation fund (what Americans call a 401k). Bitcoin was the best performing asset of the last decade, and it's going to be the best performing asset of this decade as well. And that's just one crypto among many.
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  10. #20  
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    It's great to see differing opinions here and people not on board. That means that there is still plenty of time for them to get on board. Which they will all want to... eventually.
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