"If crypto is not the answer to our money problems, what is?" Good FT article

Duke of Marmalade said:
Over 13 years in gentile speak there has been unprecedented btc deflation - 2 pizza worth $41 cost then btc10k. btc10k is now worth $268,720,407. But in Bitcoin World there has been massive inflation, supply up from 2.15m to 19.45m.
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What Fidelity were discussing was bitcoin token supply inflation - nothing else.

If you want to talk about bitcoin's buying power, it's gone up significantly over those 13+ years but that's a separate line item by comparison with a consideration of bitcoin token supply inflation.

Duke of Marmalade said:
It was the recent reference by Fidelity that triggered my current posts.
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Triggered you into opening up the very same discussion that was had about two years ago, yes.

Duke of Marmalade said:
Fidelity holds our hands through the mystery of bitcoin duality but then talks about inflation without spelling out that it means that term as it is understood in Bitcoin World.
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Incorrect. Fidelity discuss bitcoin token supply inflation. You want to conflate it with consumer price inflation. You want everyone to believe that bitcoin proponents are conflating it with consumer price inflation when they're doing no such thing - and never have.
 
€40,000. Not a whisper anywhere, at what price will greed kick in. It's a long way from the halving

A pullback is due
 
Haven't been on here in a while, great to see the same people still battling it out on Bitcoin.

FWIW I still think an un informed punter backing ponies at Wolverhampton has about as much chance of a positive ROI over the longterm as longterm holders of any of these "coins" in their current form.

On that note, will leave yet to it :)
 
presidenttttt said:
FWIW I still think an un informed punter backing ponies at Wolverhampton has about as much chance of a positive ROI over the longterm as longterm holders of any of these "coins" in their current form.
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On "coins" I tend to agree for the most part - but we've generally been talking about Bitcoin rather than "coins" for the duration. That's a different matter entirely.
 
No predictions on how this will play out, logically you'd think there is a risk of those who bought during 2021 peaks could cash out and cause downward pressure.

But we do seem to be entering another hype cycle.....come on ETH for $10k.
 
I've been stacking really hard non stop through the entire bear market.

Bags fully loaded.

Another cycle and another year of eye watering gains on the cards for me even after my tax bill.
 
tomdublin said:
I really wish you the best of luck but logically speaking the crypto hype can only end one way. Question is when, not if.
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"Crypto" hype, perhaps. Bitcoin is another story entirely though and despite six years of "only end one way" suggestions, that's not what has been developing.
 
tecate said:
"Crypto" hype, perhaps. Bitcoin is another story entirely though and despite six years of "only end one way" suggestions, that's not what has been developing.
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I was following it on and off over the years. When it was up at crazy money like 50K, I swore if it ever dropped below 25 again I was gonna lump on it. It dropped to 15 and I lumped on it. Might be the best investment I've ever made.
 
tecate said:
"Crypto" hype, perhaps. Bitcoin is another story entirely though and despite six years of "only end one way" suggestions, that's not what has been developing.
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The fact that I haven't died yet isn't logical proof that I won't die.
 
justme said:
I was following it on and off over the years. When it was up at crazy money like 50K, I swore if it ever dropped below 25 again I was gonna lump on it. It dropped to 15 and I lumped on it. Might be the best investment I've ever made.
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I think you made a very good investment

Let the regular folks be happy with their 7% annual return on index funds (minus deemed disposal when it's due of course)
 
jigsaw said:
I think you made a very good investment

Let the regular folks be happy with their 7% annual return on index funds (minus deemed disposal when it's due of course)
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And I'd be happy with 7% on my investments too (at CGT of 33%, not 41%), very happy, but for a bit of a thrill I like to have the Bitcoin on the side. Sure it will crash again, everything does, but it will probably go through the roof again after that. I bought at the bottom and I'm in no rush to cash out so I'll see how it goes over the long game.
 
justme said:
And I'd be happy with 7% on my investments too (at CGT of 33%, not 41%), very happy, but for a bit of a thrill I like to have the Bitcoin on the side. Sure it will crash again, everything does, but it will probably go through the roof again after that. I bought at the bottom and I'm in no rush to cash out so I'll see how it goes over the long game.
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7% return annually wouldn't interest me anymore personally when there's a fortune to be made with crypto if you know how to navigate the cycles and swap between alts & btc.

Make sure to have a solid plan in place to take some profits.
 
jigsaw said:
7% return annually wouldn't interest me anymore personally when there's a fortune to be made with crypto if you know how to navigate the cycles and swap between alts & btc.

Make sure to have a solid plan in place to take some profits.
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The vast majority of alts are still well below all time highs. SOL which has been on a rip lately is roughly $200 below all time high.

It is all relative on when you enter the market, those entering in 2021 are probably still nursing losses, those that got in a decade ago are probably doing alright ;)

I know most of my trades would have been better if I had just HODL'd instead of swapping in an out of alts.
 
jigsaw said:
Based on what? Your opinion?
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The value of crypto is based purely on a social belief that it holds value (unlike fiat money that at least up to a point is backed up by the economic power & credibility of states). It's valuable because people think it is and they think this because other people think the same. But shared social understandings are intrinsically fickle & transient. Once punctured they easily implode.
 
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tomdublin said:
The value of crypto is based purely on a social belief that it holds value (unlike fiat money that at least up to a point is backed up by the economic power & credibility of states). It's valuable because people think it is and they think this because other people think the same. But shared social understandings are intrinsically fickle & transient. Once punctured they easily implode.
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Fiat money has zero intrinsic value, it's backed by nothing other than the use of force. Just because there's a generation or two that know of nothing else doesn't mean that it survives or continues in its current form. Maybe it needs to sit alongside something that can't be tampered with to keep its management in check. In historical terms, fiat is a relatively recent experiment. The fact that it hasn't died yet isn't logical proof that it won't die.
 
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tomdublin said:
The value of crypto is based purely on a social belief that it holds value (unlike fiat money that at least up to a point is backed up by the economic power & credibility of states)
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Not saying you're wrong, but bad example. The value of the euro and dollar and every currency is based purely on social belief that it holds value.
 
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