[tophcfa]

Originally Posted by MorTech

What is the rate of return over 5 years? 10 years? Bitcoin was under one dollar about 10 years ago...Apple (Talking about a cult) was at about a buck in 2003. Of course it is going to fluctuate wildly against fiat currency. Like all assets since October 1987 when Greenspan implemented his institutional corruption program...Put in overdrive by the Clinton, Rubin, Greenspan trio

Last time I checked, Apple was a company, not a cult. Unlike Bitcoin, they actually publish audited financial statements, produce good and services that are in strong consumer demand, they have assets, equity, employ people, and produce lots of cash flow. Those are all things that can be quantified, projected into the future, and discounted to arrive at real value.

And this post was sent from my iPad and will be read by lots of people using Apple products.

[tvbound]

Personally, I'm pretty satisfied with the Oracle of Omaha's guidance and that I didn't bet on MLM/Ponzi based crypto. It seems that quite a few didn't/don't - feel the same way.

[valuemkt]

The Greater Fool Theory is the idea that, during a market bubble, one can make money by buying overvalued assets and selling them for a profit later, because it will always be possible to find someone who is willing to pay a higher price. And Bitcoin isnt even an asset, unless you thought a Tulip was an asset in the 1600s. With Crypto exchanges declaring bankruptcy and halting redemptions, perhaps reality is setting in .. SELL SELL SELL .. but to whom ?

[Fastskiguy]

Originally Posted by valuemkt

The Greater Fool Theory is the idea that, during a market bubble, one can make money by buying overvalued assets and selling them for a profit later, because it will always be possible to find someone who is willing to pay a higher price. And Bitcoin isnt even an asset, unless you thought a Tulip was an asset in the 1600s. With Crypto exchanges declaring bankruptcy and halting redemptions, perhaps reality is setting in .. SELL SELL SELL .. but to whom ?

It could be like that....but it could also be like trading currencies. The nice thing about bitcoin as a currency is that the government can't decide to print more. The number of bitcoin is fixed. So like in 2020-21 where they created 1/3rd again as many dollars as we had before...well with bitcoin you can't do that. The problem with creating more dollars is that you just might end up with inflation (oops!).

Now bitcoin has been a lot more volatile than (a lot of) other currencies over the years but it may settle down and become an actual thing. And then you might just wish you had some. Or maybe it'll go to zero, who knows?

And with that I'm off to buy some $4.35/gal gas!

Joe

[CoachKandSportsguy]

Just a quick crypto update:

Terra Luna - $40 billion of investors money lost
3AC - from $10 billion in assets to bankruptcy
Voyager - owes $1.3 billion to 100,000 creditors
Celsius - owes millions to over 100,000 creditors, files for bankruptcy

with no inherent value behind the letters and numbers, its just another ponzi scheme, and mostly taken advantage by criminals

finance guy

[Fastskiguy]

Originally Posted by CoachKandSportsguy

Just a quick crypto update:

Terra Luna - $40 billion of investors money lost
3AC - from $10 billion in assets to bankruptcy
Voyager - owes $1.3 billion to 100,000 creditors
Celsius - owes millions to over 100,000 creditors, files for bankruptcy

with no inherent value behind the letters and numbers, its just another ponzi scheme, and mostly taken advantage by criminals

finance guy

I don’t think anyone expects every cryptocurrency of the hundreds of options to be safe and solid. People can lose money in stocks and currencies too. BTC is down more than your SPY and The Dollar but they are all down for the year.

Joe

[MorTech]

Bitcoin is a digital property...The other cryptos are Securities.
Anyway...Cookies are bad for you.

[MorTech]

Originally Posted by tophcfa

Last time I checked, Apple was a company, not a cult. Unlike Bitcoin, they actually publish audited financial statements, produce good and services that are in strong consumer demand, they have assets, equity, employ people, and produce lots of cash flow. Those are all things that can be quantified, projected into the future, and discounted to arrive at real value.

And this post was sent from my iPad and will be read by lots of people using Apple products.

Do you mean you don't understand the difference between Bitcoin and Apple? Seriously? Do you understand the difference between a Security and a Property?

[MorTech]

Originally Posted by Fastskiguy

It could be like that....but it could also be like trading currencies. The nice thing about bitcoin as a currency is that the government can't decide to print more. The number of bitcoin is fixed. So like in 2020-21 where they created 1/3rd again as many dollars as we had before...well with bitcoin you can't do that. The problem with creating more dollars is that you just might end up with inflation (oops!).

Now bitcoin has been a lot more volatile than (a lot of) other currencies over the years but it may settle down and become an actual thing. And then you might just wish you had some. Or maybe it'll go to zero, who knows?

And with that I'm off to buy some $4.35/gal gas!

Joe

The thieves created about 40% more digital dollars in order to steal...Causing inflation which is even greater theft since inflation steals from everyone. A millionaire doesn't care much but a $60k office dweller is demoralized.

John Law would be proud that Central Bank Counterfeit is still going on...and on...and on.

[Arctic Fox]

"Chainalysis" - look it up before using your digital currency for nefarious purposes

[CoachKandSportsguy]

OOPS, there goes another

[CoachKandSportsguy]

Originally Posted by MorTech

Do you mean you don't understand the difference between Bitcoin and Apple? Seriously? Do you understand the difference between a Security and a Property?

LOL! asking a CFA and a former portfolio manager a question about his knowledge after 40 years in the career. . .

priceless

[Babubhat]

Bitcoin has no incremental buyer at these levels. It’s about Fomo and conning institutions to jam money into a finite space to get the price up. Will be plenty of bag holders

[MorTech]

Originally Posted by CoachKandSportsguy

LOL! asking a CFA and a former portfolio manager a question about his knowledge after 40 years in the career. . .

priceless

Yup..Sure am! You really think a 40 year CFA knows better than a self-made billionaire with a MIT degree?

Priceless

[MorTech]

Jeebus, people! At least watch the video before commenting. You might have to watch it a few times to grasp the concepts. Bitcoin is available to everyone on Earth with access to a $50 smartphone.

The full discussion is here:

https://www.youtube.com/watch?v=49FhysfWX1M