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Bitcoin And Cryptocurrency


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Chris24
On 3/2/2021 at 2:22 AM, Edwin said:

What a fool. Bitcoin will never be worth that much.

C'mon man! Admit you said or thought that back in 2013. We could all have been Brazillianaires!

 

I thought the same thing about the Euro when it first came out.   What real chance did a currency have that was not backed by gold and not backed by any single sovereign country or central bank?   And what military would protect its interests?

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Even if all of us had bought it back then, we would have probably sold it long ago at what we thought was a great profit...

Yes, I seem to remember bitcoin dropped to like $200+ and a member here was practically begging the members to invest in it. The dude got laughed to scorn. (I wonder if the dude became an art collecto

Shoulda, coulda... Current prediction is for bitcoin to reach a price of $500,000 in few years, this will put its market cap on par with that of gold. I have some money in bitcoin and also in ethereum

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jaybee747
On 4/14/2021 at 12:01 AM, BossHog said:

To be fair, if you went shopping in late March of 2020 and selectively bought on the NYSE you could've tripled up by now. Or much better.

Pick any date and bitcoin has done much better, from March/2020 bitcoin value icreased by more than 1000%.

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jaybee747
On 4/14/2021 at 12:01 AM, BossHog said:

I'm bullish on the 'coin. Its adoption by major financial institutions will give it some upward movement. Being old skool, I won't be buying any because I need something with book value to assess (and that pays dividends).

Two downward catalysts are gonna be the inevitable issuance of US and Chinese digital currencies and the troublesome environmental issues of bitcoin farming. But short-term it looks pretty damn tempting and I'm happy for those who've made out.

Some exchanges are paying interest on bitcoin holdings, around 2% per year, I am getting 7.4% interest per year on my Filecoins.

US and Chineese digital currencies are completly different "animal", cannot compare to crypto.

 

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BossHog
On 4/15/2021 at 8:45 PM, jaybee747 said:

US and Chineese digital currencies are completly different "animal", cannot compare to crypto.

True enough. I wasn't drawing a parallel but rather describing potential downward catalysts. There's a difference.

 

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savarity
Some exchanges are paying interest on bitcoin holdings, around 2% per year, I am getting 7.4% interest per year on my Filecoins.
US and Chineese digital currencies are completly different "animal", cannot compare to crypto.
 
If the interest is too good, I'd worry about Ponzi schemes. How are withdrawals? Are the firm's deposits audited?
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Dutch
1 hour ago, savarity said:
On 4/15/2021 at 8:45 PM, jaybee747 said:
Some exchanges are paying interest on bitcoin holdings, around 2% per year, I am getting 7.4% interest per year on my Filecoins.
US and Chineese digital currencies are completly different "animal", cannot compare to crypto.
 

Expand  

If the interest is too good, I'd worry about Ponzi schemes. How are withdrawals? Are the firm's deposits audited?

everyone can audit defi loans, they are more sound than whatever trickery banks have been doing for decades, the real risk is that the collateral for the loans is very volatile, flash crashes can still wipe out a huge chunk of your money, that is why the interest rates are so high.

it hasn't happened yet but these types of loans have also not been around back when you would see 50%+ nose dives. god knows what happens when the collateral comes crashing down.

If it is money you cant afford to lose, stay away from these schemes, just put your money in an ETF to see 6% per year over long term.

 

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jaybee747
9 hours ago, savarity said:
On 4/15/2021 at 8:45 AM, jaybee747 said:
Some exchanges are paying interest on bitcoin holdings, around 2% per year, I am getting 7.4% interest per year on my Filecoins.
US and Chineese digital currencies are completly different "animal", cannot compare to crypto.
 

If the interest is too good, I'd worry about Ponzi schemes. How are withdrawals? Are the firm's deposits audited?

There is no gurantee, the money is not FDIC insured, I am using the interest acct only for small part of my cryptos, it is nice to see the $$'s hitting my account daily... Once it get accumulated I am moving it off the exchange to a cold wallet where it is secured.

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