I am sure he will donate his profits to the poor of the world.
Well I never. This is the alternative investments sub-forum where the topic at hand is bitcoin and its suitability or otherwise as an investment - and you have the nerve to present here having already taken a position in btc? That's just plain wrong Wolfie. I mean, how could we possibly discuss the actual topic now knowing that? You clearly have the advantage and we won't be able to debate you on the actual topic. When that falls apart, best to stand and point and mumble 'self interest' instead.
Well done on availing of the opportunity to choose - and having that conviction. Some wouldn't back their conviction with the price of a pint.No, wrong again. I was interested in the concept of being able to avail of and take custody of private money.
That it has paid off in terms of increased value is my good fortune.
WolfeTone said:You are talking to someone who derided bitcoin from the first moment I heard about it. The 'holes', I assume you mean - Ponzi, criminals, energy usage, BOHA, China Crackdown, G7 crackdown, have all fallen by the wayside. Maybe you are talking about some other holes?
That sounds progressive Wolfie (albeit wildly inconvenient as an answer!).Kind of. I invested most of it in eco-friendly projects in South Africa. Bringing cheap electricity via solar to businesses, schools, community projects.
I get a return of course, here is the kicker - I get paid in bitcoin!
Well I never. This is the alternative investments sub-forum where the topic at hand is bitcoin and its suitability or otherwise as an investment - and you have the nerve to present here having already taken a position in btc? That's just plain wrong Wolfie.
I'm not sure, it may never happen...I am just open to the possibility that it could occur.
It may limit its potential adoption but bitcoin, as you know, is divisible to 100million satoshi's. So there is potential for everyone on the planet - with a smartphone and internet connection - to acquire some.
I don't think we are anywhere near that occuring yet.
You get what you pay for. In my opinion, bitcoin will not survive long term without a significant increase in participation from the global population, driving up the price.
A significant increase in participation by the global population will occur when large holders of bitcoin dilute some of their holdings (over time) driving down the price.
It's a slow-burner, this has a long way to go.
Yet you advocate that bitcoin should be part of everyone's portfolio.I feel sorry for anybody reading this thread and buying BTC at $60k, $50k, $40k or whatever price
BTC as an alternative investment should be part of everyone's portfolio,
Woflie, can you explain this? I quoted you directly to support the point that you have no idea how the price will go, and based on that you aren't qualified to be advocating for investment in BTC today. You have even agreed with it in your latest response by saying "I have no idea what the future holds, what bitcoin price will be in a year, 10 years etc". So can you please explain how I have taken your opinion wrongly? If it is wrong, please enlighten me with your price prediction.
So can you please explain how I have taken your opinion wrongly?
Those comments were in the context of people basing investment decisions on your advice of "I got it for free and it has earnt me money".
When quite evidently you repeatedly state you have no idea of what the price will go like.
Except of course that is not what I said.
Unlike yourself however I don't feel sorry for anyone who buys bitcoin "at any price".
Can you square that circle please?
Great, you can tell us all how much bitcoin will be in six months, a year, 5yrs and 10yrs from now?
To clarify, I did not say I felt sorry for anyone who bought Bitcoin at any price, can you please set that record straight?
I feel sorry for anybody reading this thread and buying BTC at $60k, $50k, $40k or whatever price
My comment was intended in context of the discussion, on why you believed Bitcoin to be a good investment. Your response was that you got Bitcoin for free.
So to be very specific on what was meant, I feel sorry for people who bought BTC at current high prices ($30k to $60k) observed over the last few months based on the advocation for Bitcoin that you and others have posted on this forum.
What you didn't notice or chose to miss is that I made no comment on what the entry point is or how people should get that exposure.
Sure no problem, here is what you actually said lest anyone think I was trying deliberately to distort your comments
That was not my response. I did not get bitcoin for free. Can you please set that record straight?
My bitcoin holding $ cost average is zero. Its monetary value is not insignifcant.
Yes, I think you were going to open another thread and enlighten us all to your investment advice to bitcoin?