I know this can also be said of gold, and the USD and pretty much any other currency, but what’s the underlying value other than staring at the chart, that would make you speculate in the 10k-12k range?
Meaning, gold has 5000+ years as a store of value, good companies have decades of earnings and strong customer bases. The USD is the reserve currency and can be said to be backed by the government, military, land, people, etc.
What actually underlies Bitcoin other than belief it is worth something?
I understand the exact same thing can be said of gold. But Bitcoin has only 13 years of history. Seems much more likely to go poof.
Gary November 9, 2022
The chart and the fact that the herds have thundered out of the play are the ONLY reasons I’d speculate here. And it’s really not at all a priority. Not at all.
Paul November 9, 2022
Hey Gary, if you can share publicly, how do you intend to buy bitcoin at or below the target? Myself, I’d rather buy a fraction of a real bitcoin, not a crypto etf — but I’m also lazy and reluctant to open a cypto exchange account because, ya’know, Eye of Sauron. Thanks.
Gary November 9, 2022
Hi Paul, if I were not so lazy I’d be buying actual Treasury bills rather than money market and T bill funds. ;-) Although I may finally do that.
As for crypto, I don’t believe in it so I would not invest in it. The reason I don’t believe in it is because I am not very knowledgeable about it like the BTC promoters pretend to be. It would just be a spec and frankly, there may be better specs out there for me at the time BTC hits 10k.
Paul November 9, 2022
Yeah, I hear ya. I knew about bitcoin way back when it traded for $1.00. Still kick myself for not throwing $100.00 at it back then, would have made a real difference if I had had the stones to hold on.
Bengt Løyer November 10, 2022
Bitcon — by all means invest in a few electric charges in a computer memory that confer zero claim on anything with tangible value!
On a side note I noticed that “Bitcon Gold” and “B2Gold” appear to share the syme ticker symbol BTG.
I know this can also be said of gold, and the USD and pretty much any other currency, but what’s the underlying value other than staring at the chart, that would make you speculate in the 10k-12k range?
Meaning, gold has 5000+ years as a store of value, good companies have decades of earnings and strong customer bases. The USD is the reserve currency and can be said to be backed by the government, military, land, people, etc.
What actually underlies Bitcoin other than belief it is worth something?
I understand the exact same thing can be said of gold. But Bitcoin has only 13 years of history. Seems much more likely to go poof.
The chart and the fact that the herds have thundered out of the play are the ONLY reasons I’d speculate here. And it’s really not at all a priority. Not at all.
Hey Gary, if you can share publicly, how do you intend to buy bitcoin at or below the target? Myself, I’d rather buy a fraction of a real bitcoin, not a crypto etf — but I’m also lazy and reluctant to open a cypto exchange account because, ya’know, Eye of Sauron. Thanks.
Hi Paul, if I were not so lazy I’d be buying actual Treasury bills rather than money market and T bill funds. ;-) Although I may finally do that.
As for crypto, I don’t believe in it so I would not invest in it. The reason I don’t believe in it is because I am not very knowledgeable about it like the BTC promoters pretend to be. It would just be a spec and frankly, there may be better specs out there for me at the time BTC hits 10k.
Yeah, I hear ya. I knew about bitcoin way back when it traded for $1.00. Still kick myself for not throwing $100.00 at it back then, would have made a real difference if I had had the stones to hold on.
Bitcon — by all means invest in a few electric charges in a computer memory that confer zero claim on anything with tangible value!
On a side note I noticed that “Bitcon Gold” and “B2Gold” appear to share the syme ticker symbol BTG.