You beat me to it, Sunny. Wow, what a statementHard to argue with that logic alright. So basically he is suggesting that people should invest in a product where there is up to an 50-80% chance that it is worth nothing but there is a 20-50% chance it will be worth something (the variables can't be 'no value' and 'increase in value') because probability weighted, it is good.....Wow. Remind me not to invest in paypal anytime soon.
I suppose if you are a billionaire your financial worries do focus on the "whole world falling apart". Why bitcoin would be the saviour in that situation beats me."It's sort of hedge of sorts against the whole world falling apart."
Hard to argue with a Billionaire who has a track record in fintech!
I suppose if you are a billionaire your financial worries do focus on the "whole world falling apart". Why bitcoin would be the saviour in that situation beats me.
Why bitcoin would be the saviour in that situation beats me.
My total remaining stake in bitcoin is around €600. Hardly the stuff of religious fanaticism is it?
Just as aside, it occurs to me that there is a sense amongst the ABC's that holders of bitcoin are risking everything! This notion is reflected in another thread 'Taxes on Cryptocurrency'.
The reality I suspect is somewhat very different. From my own perspective I went on a speculative spurge of just under €3,000 and in the timeframe that I bought and sold, bitcoin went up 400%. I was able to benefit by a near 100% profit as its price began to decline. My total remaining stake in bitcoin is around €600. Hardly the stuff of religious fanaticism is it?
I would hazard a guess that the poster most exposed to losing money on bitcoin is BB!
Hard to argue with that logic alright. So basically he is suggesting that people should invest in a product where there is up to an 50-80% chance that it is worth nothing but there is a 20-50% chance it will be worth something (the variables can't be 'no value' and 'increase in value') because probability weighted, it is good.....Wow. Remind me not to invest in paypal anytime soon.
Does this billionaire genius not realise that "store of value" and 80% chance of having no value in the future are a contradiction in terms. He clearly sees it as a hedge against a scenario where the "whole world has fallen apart" and out of the nuclear debris come the bitcoin community hugging their Smartphones and QR codes. He probably has Zimbabwean dollars against the unlikely event that that currency dominates all else. When you are a billionaire you develop all sorts of worries."Peter Thiel has once again endorsed bitcoin, which he recently argued is tantamount to digital gold.
And much like gold, the billionaire co-founder of PayPal conjectures that the cryptocurrency is destined to be a store of value rather than a means of payment.
"It's sort of hedge of sorts against the whole world falling apart."
Despite his prediction, Thiel did not express complete confidence in bitcoin, and speculated that there is a 50 to 80 percent chance that it will have no value in the future.
Hard to argue with a Billionaire who has a track record in fintech!
He never suggested that anyone puts any money into cryptos. He was merely giving his opinion what he thinks about it. The percentages he mentions suggest it's a very risky trade.....that's hardly surprising to anyone!
and out of the nuclear debris come the bitcoin community hugging their Smartphones and QR codes
Even rich people talk tripe. Look at Trump.
B/S I don't think that is going to save you if the whole world falls apart and somehow bitcoin is the only game in town.My total remaining stake in bitcoin is around €600.
Does this billionaire genius not realise that "store of value" and 80% chance of having no value in the future are a contradiction in terms.
....desperately searching for an internet connection!He clearly sees it as a hedge against a scenario where the "whole world has fallen apart" and out of the nuclear debris come the bitcoin community hugging their Smartphones and QR codes.
Risky investment means that there is a non trascurable possibility that it’s value decreases sharply. For Thiel this risk is between 50 and 80%
On the other hand, risky investments have potentially very high returns and in fact old bitcoiners have easily made 100x (reads 10,000%)
It’s straight forward maths, what’s the issue?
....desperately searching for an internet connection!
Tinned food would be a better "investment"
I would have thought, for all your postings and arguments, you would have more skin in the game!
Why?
Im interested in the whole concept behind cryptocurrency and can see its usages. But as stated, ad nauseum, it is highly volatile. It would be stupid to risk more than im prepared to lose.
Having said that, its potential to rise further is clearly there so all options are on the table.
B/S I don't think that is going to save you if the whole world falls apart and somehow bitcoin is the only game in town.
If I had put so much effort into something as you clearly have it would want to me worth my while. It is highly highly unlikely that Bitcoin will increase tenfold from its current price anytime soon and even if it did you'd only be "in" for 6k, which is still hardly something to write home about. Fair enough if you're into the Blockchain technology side of things from an academic interest I suppose.
B/S you are not paying attentionWho is talking about the "whole world falling apart" other than yourself?
This is Peter Thiel, financial and intellectual giant, haven't you heard of him?"Peter Thiel has once again endorsed bitcoin, which he recently argued is tantamount to digital gold.
"It's sort of hedge of sorts against the whole world falling apart."
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?