7nine
94chem said:
Soooo....the point of bitcoin is that it's not tied to banks or traditional currency, but its worth as an investment is how it stacks up against banks and traditional currency? Isn't this like tying a 6 foot rope around a dog's neck and saying it's not a leash because you didn't buy it at Petco?
Texaggie7nine said:
You going to jump back in when BTC takes off again?
Yet many long term investors buy into gold when they feel the stock markets are volatile. That is what many people think BTC is becoming for now. A long term solution to holding wealth outside of the stocks and banking systems.94chem said:
Exactly. I could say the same for gold...or Ukrainian hryvnas...or Russian rubles. This is just currency trading - no more, no less. You've just found a very volatile currency. This just doesn't make sense for most investors who need steady returns over time. Some people are going to enjoy the elevator ride; most won't.
94chem said:
Vivicus, The institutional investors will make big plays. At some point one of them will jump off the merry-go-round, and everyone else will follow. It's Orwellian. The bitboys think they've beaten the system, but the banks had them by the cajones the whole time.
94chem said:
Exactly. I could say the same for gold...or Ukrainian hryvnas...or Russian rubles. This is just currency trading - no more, no less. You've just found a very volatile currency. This just doesn't make sense for most investors who need steady returns over time. Some people are going to enjoy the elevator ride; most won't.
WowQuote:
2,600.000
+225.01 (+9.47%)
Looking for a pull back that not happening right now.Quote:
2,633.000
+258.01 (+10.86%)
ok, I sold mine, but now I want back inQuote:
2,693.625
+318.635 (+13.42%)
Texaggie7nine said:
Never underestimate the ignorance of the market I guess. I have no idea why people are still buying at this price.
I don't understand why that would make GBTC go up though. The thought was, once bitcoin futures enter the market, people will jump out of GBTC to go invest in futures.aggiedata said:
Because Bitcoin futures hit the market today, back by this very company. So yeah.
3,300.000
+601.00 +22.27%
aggiedata said:
More and more people are seeing the move to futures as legitimizing Bitcoin. There is a shift in sentiment.
then people look around and there are limited stocks to buy that are supported by crypto-currencies.
Look at MGTI today for another play.. up 36% and it's a 5.71. This is where folks want in on this.
Hey! We could have used the hat tip to make up for getting us out of GBTC so early.Quote:
I bought TEUM this morning, up 89%. It's marginally tied into the bitcoin realm, but it's shooting up right now...