What Fidelity were discussing was bitcoin token supply inflation - nothing else.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.
It was the recent reference by Fidelity that triggered my current posts.
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.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.
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.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.
Exactly rightOn "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.
I really wish you the best of luck but logically speaking the crypto hype can only end one way. Question is when, not if.Another cycle and another year of eye watering gains
"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.I really wish you the best of luck but logically speaking the crypto hype can only end one way. Question is when, not if.
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."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.
The fact that I haven't died yet isn't logical proof that I won't die."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.
Fair enough, it could die next Tuesday or 100 years from now - although you could apply that line of thought to just about anything. In actual fact, its died 474 times already.The fact that I haven't died yet isn't logical proof that I won't die.
I think you made a very good investmentI 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.
Based on what? Your opinion?I really wish you the best of luck but logically speaking the crypto hype can only end one way. Question is when, not if.
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)
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.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.
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.
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.Based on what? Your opinion?
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.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.
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)
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?