This guy does a thorough job providing an insightful rundown of Bitcoin as an asset class - perhaps by the end you'll understand something of what the fuss is about!

The big movers are, the devaluation of world currencies bought about through massive ongoing Quantitative Easing, high levels of inflation on the horizon, Supply Shock (limited supply) and unprecedented inflow from Institutional Investment.

I'm not trying to preach or spruik here, I'm just trying to offer some useful information regarding something big that's going on in the financial world.


it's only 20min at 1.5 speed ... lol

"WHY Bitcoin is about to explode as an asset class + WHY everyone should have a piece!"

https://www.youtube.com/watch?v=pmFUb-Usfqk

Sounds like a pyramid scheme

The original intention of bitcoin was as a currency that isn't government controlled (very useful for criminals)
But now it's being looked at by speculative investors (ie gamblers)

If you are going to invest (gamble) in it only use money that you can afford to lose

No way would I buy into the world's biggest Internet Scam.
Only 'desperate' people go for stuff like this.
Guinea Pigs first.
...not everything 'New' is good.

Bitcoin has no intrinsic value.
It has no yield.
Noone needs bitcoins.

It is sort of like an influencer, a 'reality' tv show, or people who are 'famous' because they are in weekly media magazines. The paris hiltons or kim kardashians who are famous for being famous.

I prefer the  Black Market - it's more reliable and has been around for many centuries globally.

The trouble is that Govts. could make Bitcoin illegal.
If so - you could lose all your money
that is put into Bitcoin.
You can't buy anything from overseas unless it goes through customs
so the way you paid could be traced.
Bitcoin is very risky if
you were putting your life savings into it.

I'm not going to try to convince anyone here ... lol
 
What is, is what is and what will be, will be.
When futures' seen as past, in our past we shall see!


One things for sure ... 

https://www.youtube.com/watch?v=90WD_ats6eE

Personally, I think Bitcoin is a forerunner of an official currency  and market for an Australia that becomes an independent Republic.
Many people invested millions into 'The Island' - a Computer world that had millions of people inputting. The Economy of ART.

...sort of like the 'Real Australia' in waiting ;)

The world needs visionaries JaSin, yes there's something to like about your vision!

--------


Quote:

By Robert GuySenior Writer - Financial Review Analysis How central banks boosted bitcoin Deficits, debt and fears of currency debasement have stoked the record-breaking rally in digital currencies. It's tempting to dismiss the surge in the price of bitcoin and ethereum as a speculative blow-off powered by hot money chasing momentum. But the rally in digital currencies reflects an unease about the unholy trinity of debt, deficits and debased currencies forged by policymakers desperate to revive growth. The rally in bitcoin beyond $US30,000 ($38,850) is a digital indictment of the easy money policies embraced by the world's central banks, as increasingly aggressive balance sheet expansions obliterate the concept of a price for risk and fuel an ever-growing "everything bubble". In an era when monetary policymakers are trying to out-dove each other, where once unconventional policies – such as quantitative easing and yield curve control – have become standard operating procedure, it's easy to understand why more capital is seeking an exit from, or a hedge against, a system where central banks have gone wild. Bitcoin's deterministic monetary policy – only 21 million will be issued at a set pace – looks relatively sober compared to the $US3 trillion expansion in the Federal Reserve's balance sheet and $140 billion swelling in the Reserve Bank of Australia's since the start of the virus crisis. Digital currencies are no longer the preserve of fintech geeks. Bitcoin has won the backing of US hedge fund legends Paul Tudor Jones and Stanley Druckenmiller, while US-listed companies Square and MicroStrategy have invested some of their corporate treasury in the digital currency. Digital Asset Capital Management chief executive and co-founder Richard Galvin says 2020 was a "break-out year" for the sector amid an embrace of bitcoin's "digital gold" narrative and the broadening adoption of decentralised finance, or DeFi. That shift in perception was reflected in its Digital Asset Fund returning about 420 per cent last year, while its DAF Liquid Venture Fund returned just under 500 per cent. Where the growing interest in digital currencies reflects a desire to step outside the traditional central banking system, the adoption of DeFi highlights the flow of capital beyond traditional banking and finance. The fusing together of capital and technology into programmable money provides innovators with a potentially powerful tool when interest rates are near zero, yields are miserly and central bank engineering of the shape of the yield curve has changed the rules of the banking and finance game. Investors have been left with no choice but to chase risk in a world devoid of yield. TINA – there is no alternative – has become the catchcry for investors pouring into stocks, commodities and digital currencies given the meagre returns on offer at the bank or in bonds. But nominal yields only tell part of the story. Real, or inflation-adjusted, yields are nil or negative, meaning there is no opportunity cost for investors in non-income producing assets such as gold and digital currencies. The stock of debt trading at a negative yield stands at $US17.7 trillion. Bitcoin has also been helped by the slide in the value of the US dollar to a 2½-year low. The prospect of yet more debt being deployed to prop up US growth in 2021 means more supply of dollars. This will keep the Fed buying bonds to repress yields as the US Treasury makes a greater call on lenders. And around and around it goes. Almost a decade on from the US having its credit rating downgraded from triple-A by Standard & Poor's, holders of US dollars in the form of US Treasuries have watched successful administrations make a mockery of the debt ceiling. The August 2010 downgrade came when US government debt was $US14.3 trillion – it's now $US27 trillion. And let's not get started with the $US100 trillion-plus of long-term entitlements that still need to be paid and funded with yet more greenbacks. While it's easy to claim bitcoin is being driven by speculators, its rise partly reflects concerns about the ongoing speculation by policymakers on the durability of debt-fuelled growth. Central banks need only look in the mirror to understand bitcoin's success.

https://www.afr.com/markets/equity-markets/how-central-banks-boosted-bitcoin-20210104-p56ris

Once BTC broke $1 breaking $1 million became inevitable. Looks up Greshams law. This is the start of the 2nd wave (institutional money) should run it up to 6 figures pretty easy.  I've been riding it since 2016, been retired for two years now. Do as you wish.

The_Barnacle wrote on Jan 6^th, 2021 at 3:21pm:

Sounds like a pyramid scheme The original intention of bitcoin was as a currency that isn't government controlled (very useful for criminals) But now it's being looked at by speculative investors (ie gamblers) If you are going to invest (gamble) in it only use money that you can afford to lose

Pyramid scheme analogy is the same as any market-it relies on more capital being invested to raise the value of the vehicle, people who invested early and held take a disproportionate share of long term capital growth. If your going to call BTC a pyramid scheme you have to call everything a pyramid scheme- equities, bonds and real estate.

Pho Huc wrote on Jan 7^th, 2021 at 4:37pm:

Once BTC broke $1 breaking $1 million became inevitable. Looks up Greshams law. This is the start of the 2nd wave (institutional money) should run it up to 6 figures pretty easy.  I've been riding it since 2016, been retired for two years now. Do as you wish.

Get out of here!  :D

Pho Huc wrote on Jan 7^th, 2021 at 5:08pm:

The_Barnacle wrote on Jan 6th, 2021 at 3:21pm: Sounds like a pyramid scheme The original intention of bitcoin was as a currency that isn't government controlled (very useful for criminals) But now it's being looked at by speculative investors (ie gamblers) If you are going to invest (gamble) in it only use money that you can afford to lose Pyramid scheme analogy is the same as any market-it relies on more capital being invested to raise the value of the vehicle, people who invested early and held take a disproportionate share of long term capital growth. If your going to call BTC a pyramid scheme you have to call everything a pyramid scheme- equities, bonds and real estate.

Incorrect.
Real estate is a physical asset and everyone has to live somewhere.
The share market relies on real companies making profits

Bitcoin doesn't actually exist, it's just bytes of data. Much like the .com bubble 20 years ago it is purely speculative

Do fiat currencies have intrinsic value?


Quote:

Bitcoin is the first digital monetary system capable of storing all the money in the world for every individual, corporation, and government in a fair & equitable manner, without losing any of it. If that’s not intrinsically valuable, what is? Michael Saylor, the CEO of Nasdaq-listed company Microstrategy https://twitter.com/michael_saylor/status/1316054485781929984?lang=en

As far as speculation goes, bitcoin's volatility is expected to decrease over time as it's market cap increases.

Pho Huc wrote on Jan 7^th, 2021 at 4:37pm:

Once BTC broke $1 breaking $1 million became inevitable. Looks up Greshams law. This is the start of the 2nd wave (institutional money) should run it up to 6 figures pretty easy.  I've been riding it since 2016, been retired for two years now. Do as you wish.

Well done

Sprintcyclist wrote on Jan 20^th, 2021 at 1:09am:

Pho Huc wrote on Jan 7th, 2021 at 4:37pm: Once BTC broke $1 breaking $1 million became inevitable. Looks up Greshams law. This is the start of the 2nd wave (institutional money) should run it up to 6 figures pretty easy.  I've been riding it since 2016, been retired for two years now. Do as you wish. Well done

Thank you sir. Im not ferrari's and super yachts, but I own my own place and make enough doing short term trading that I haven't had to touch the stash for a few years now. I think this was actually the first place I posted about ( http://www.ozpolitic.com/forum/YaBB.pl?num=1503498096 ) I see the same cycle about to happen again and this time i'm trying to tell people before the party starts, not when its half done.

0ktema wrote on Jan 19^th, 2021 at 11:41pm:

Do fiat currencies have intrinsic value? Quote: Bitcoin is the first digital monetary system capable of storing all the money in the world for every individual, corporation, and government in a fair & equitable manner, without losing any of it. If that’s not intrinsically valuable, what is? Michael Saylor, the CEO of Nasdaq-listed company Microstrategy https://twitter.com/michael_saylor/status/1316054485781929984?lang=en As far as speculation goes, bitcoin's volatility is expected to decrease over time as it's market cap increases.

Fiat currencies are purely used to make transactions, which was the original intention of Bitcoin.
Bitcoin was originally invented so that organised crime and paranoid conspiracy theorists could make untraceable transactions using a currency that wasn't controlled by a government.

Using Bitcoin as a speculative investment is completely different to it's intended use when it was created.
Bitcoin is just bytes in a computer and has no intrinsic value (just like a fiat currency) so my prediction is that this will end badly for a lot of people.

The_Barnacle wrote on Jan 30^th, 2021 at 10:46am:

0ktema wrote on Jan 19th, 2021 at 11:41pm: Do fiat currencies have intrinsic value? Quote: Bitcoin is the first digital monetary system capable of storing all the money in the world for every individual, corporation, and government in a fair & equitable manner, without losing any of it. If that’s not intrinsically valuable, what is? Michael Saylor, the CEO of Nasdaq-listed company Microstrategy https://twitter.com/michael_saylor/status/1316054485781929984?lang=en As far as speculation goes, bitcoin's volatility is expected to decrease over time as it's market cap increases. Fiat currencies are purely used to make transactions, which was the original intention of Bitcoin. Bitcoin was originally invented so that organised crime and paranoid conspiracy theorists could make untraceable transactions using a currency that wasn't controlled by a government. Using Bitcoin as a speculative investment is completely different to it's intended use when it was created. Bitcoin is just bytes in a computer and has no intrinsic value (just like a fiat currency) so my prediction is that this will end badly for a lot of people.

I think it will always have a value, but I do not disagree with you

The_Barnacle wrote on Jan 30^th, 2021 at 10:46am:

0ktema wrote on Jan 19th, 2021 at 11:41pm: Do fiat currencies have intrinsic value? Quote: Bitcoin is the first digital monetary system capable of storing all the money in the world for every individual, corporation, and government in a fair & equitable manner, without losing any of it. If that’s not intrinsically valuable, what is? Michael Saylor, the CEO of Nasdaq-listed company Microstrategy https://twitter.com/michael_saylor/status/1316054485781929984?lang=en As far as speculation goes, bitcoin's volatility is expected to decrease over time as it's market cap increases. Fiat currencies are purely used to make transactions, which was the original intention of Bitcoin. Bitcoin was originally invented so that organised crime and paranoid conspiracy theorists could make untraceable transactions using a currency that wasn't controlled by a government. Using Bitcoin as a speculative investment is completely different to it's intended use when it was created. Bitcoin is just bytes in a computer and has no intrinsic value (just like a fiat currency) so my prediction is that this will end badly for a lot of people.

Its kinda of true, but so is saying gold is just lead with a few less electrons. Essentially the value is that its digital solution to the byzantine general problem. Its like the internet in 1970- its pretty bare bones but what it already is is a basis for totally reliable information confirmation. and if you think about how valuable providence of veracity is and how this creates the ability to watermark veracity of any digital media... The speculation is reasonable.

Pho Huc wrote on Jan 20^th, 2021 at 10:42pm:

Sprintcyclist wrote on Jan 20th, 2021 at 1:09am: Pho Huc wrote on Jan 7th, 2021 at 4:37pm: Once BTC broke $1 breaking $1 million became inevitable. Looks up Greshams law. This is the start of the 2nd wave (institutional money) should run it up to 6 figures pretty easy.  I've been riding it since 2016, been retired for two years now. Do as you wish. Well done Thank you sir. Im not ferrari's and super yachts, but I own my own place and make enough doing short term trading that I haven't had to touch the stash for a few years now. I think this was actually the first place I posted about ( http://www.ozpolitic.com/forum/YaBB.pl?num=1503498096 ) I see the same cycle about to happen again and this time i'm trying to tell people before the party starts, not when its half done.

That is very good work.
Very few people do that.

I have invested for decades, I find it challenging and an excellent interest.

Ahhh cryptocurrency the tulip craze of the 21st century

Prime Minister for Canyons wrote on Feb 4^th, 2021 at 8:45am:

Ahhh cryptocurrency the tulip craze of the 21st century

You fundamentally misunderstand the value of bitcoin. The exchange of value/store of wealth argument also misses it. Its true value is as a watermark to confirm the legitimacy of data. How much do you think truth is worth?

Should i buy bitcoin now or wait for a drop? And where do you buy it?

Pho Huc wrote on Feb 6^th, 2021 at 3:21pm:

Prime Minister for Canyons wrote on Feb 4th, 2021 at 8:45am: Ahhh cryptocurrency the tulip craze of the 21st century You fundamentally misunderstand the value of bitcoin. The exchange of value/store of wealth argument also misses it. Its true value is as a watermark to confirm the legitimacy of data. How much do you think truth is worth?

Yes, I don't  ........ fundamentally understand the value of bitcoin.

rhino wrote on Feb 6^th, 2021 at 3:22pm:

Should i buy bitcoin now or wait for a drop? And where do you buy it?

Tough one. Im hoping for a pullback to 28-33k USD- if that was given then you back the truck up. I think its going to continue going up but I can't recommend entering here, always try and enter on a dip/pullback. I usually use btcmarkets.net as my fiat onramp/offramp, the fee's are quite high (nearly 1%) but they are a reliable legit operation that is easy to put cash into/pull it out of. Have been using them since 2016. Yu could also use FTX/Binance and their in house CC facilities which is probably the cheapest, easiest way(didn't exist when I got into crypto)

Sprintcyclist wrote on Feb 6^th, 2021 at 6:00pm:

Pho Huc wrote on Feb 6th, 2021 at 3:21pm: Prime Minister for Canyons wrote on Feb 4th, 2021 at 8:45am: Ahhh cryptocurrency the tulip craze of the 21st century You fundamentally misunderstand the value of bitcoin. The exchange of value/store of wealth argument also misses it. Its true value is as a watermark to confirm the legitimacy of data. How much do you think truth is worth? Yes, I don't  ........ fundamentally understand the value of bitcoin.

Few do. Everyone is trying to make it fit into existing niches "SOW,MOE,Tulip bubble" when BTC is a truly new thing.

Pho Huc wrote on Feb 6^th, 2021 at 6:42pm:

rhino wrote on Feb 6th, 2021 at 3:22pm: Should i buy bitcoin now or wait for a drop? And where do you buy it? Tough one. Im hoping for a pullback to 28-33k USD- if that was given then you back the truck up. I think its going to continue going up but I can't recommend entering here, always try and enter on a dip/pullback. I usually use btcmarkets.net as my fiat onramp/offramp, the fee's are quite high (nearly 1%) but they are a reliable legit operation that is easy to put cash into/pull it out of. Have been using them since 2016. Yu could also use FTX/Binance and their in house CC facilities which is probably the cheapest, easiest way(didn't exist when I got into crypto)

cheers.

Pho Huc wrote on Feb 6^th, 2021 at 6:46pm:

Sprintcyclist wrote on Feb 6th, 2021 at 6:00pm: Pho Huc wrote on Feb 6th, 2021 at 3:21pm: Prime Minister for Canyons wrote on Feb 4th, 2021 at 8:45am: Ahhh cryptocurrency the tulip craze of the 21st century You fundamentally misunderstand the value of bitcoin. The exchange of value/store of wealth argument also misses it. Its true value is as a watermark to confirm the legitimacy of data. How much do you think truth is worth? Yes, I don't  ........ fundamentally understand the value of bitcoin. Few do. Everyone is trying to make it fit into existing niches "SOW,MOE,Tulip bubble" when BTC is a truly new thing.

A new thing comes along pretty often.

The humanity of 'Fear and Greed' run the market.
Fear is stronger than greed.
Hence a market declines more rapidly than it rises.

Elon straps a rocket to Bitcoin!

The prices below are in USD.


Quote:

Bitcoin Price Rockets After Elon Musk’s Tesla Reveals It Bought $1.5 Billion Worth Of Bitcoin Bitcoin has suddenly surged after Tesla, the electric car-maker led by billionaire Elon Musk, revealed it has bought bitcoin. The bitcoin price rocketed to an all-time high of $43,730 per bitcoin on the Luxembourg-based Bitstamp exchange before falling back slightly. Tesla announced that it bought $1.5 billion worth of bitcoin in January, according to a filing with the Securities and Exchange Commission, adding it would soon start accepting payments in bitcoin. The bitcoin price has now soared over 300% since October, with the blistering bitcoin rally largely put down to institutional investors warming to the cryptocurrency and payments giants such as PayPal  and Visa adding their support Last week, Musk said he thinks bitcoin is on "the verge" of breaking into traditional finance. "I am a supporter of bitcoin. I am late to the party but a supporter. I think bitcoin is on the verge of getting broad acceptance by conventional finance people," Musk said during an interview carried out on the invite-only chat app Clubhouse.

https://www.forbes.com/sites/billybambrough/2021/02/08/bitcoin-price-rockets-after-elon-musks-tesla-reveals-it-bought-15-billion-worth-of-bitcoin/?sh=72241325b639

Something for the novices!

https://www.youtube.com/watch?v=fiw5rp3zoo0

Never put in more than you can afford to loose

https://www.youtube.com/watch?v=LEswi_YHwSc

Bitcoin hits $1 trillion in market value for the first time amid epic rally 


Quote:

: Bitcoin’s rally catapulted it to a market capitalization of $US1 ($1) trillion for the first time on Friday. : The popular cryptocurrency climbed above $US53,000 ($67,434) for the first time Friday morning. : Bitcoin’s 60% surge in February has outperformed by far traditional assets, from stocks to gold. “Bitcoin’s market cap hitting $US1 ($1) trillion demonstrates the mainstreaming of cryptocurrency as a store of value” said Adam Liposky, Ecosystem Operations Lead at Pocket Network, a blockchain data ecosystem for Web3 applications. “Most of us in the market view this milestone as validation for the entire market.” The cryptocurrency now joins a rarified trillion-dollar market capitalization club with the likes of Amazon, Microsoft, Apple, and Alphabet.

https://www.businessinsider.com.au/bitcoin-market-value-1-trillion-for-the-first-time-cryptocurrency-2021-2

SCIENTIST INVENTS TOILET THAT TURNS HUMAN FECES INTO CRYPTOCURRENCY
"IF WE THINK OUT OF THE BOX, FECES HAS PRECIOUS VALUE TO MAKE ENERGY AND MANURE."

https://futurism.com/the-byte/toilet-poop-green-energy

Follow the science

Bitcoin is a pyramid scheme.