Quote:
Originally Posted by Babylon
That's kinda the entire premise of stock trading as well, you'll hit a wall make a mistake or lose some money inevitably if youre in the game long enough, but if you know when to pull out and what amount to pull out just create a safety net and always have more than you initially put in. It's entirely possible to cash in on BTC, just takes timing & apt decision making
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Not really, I used to trade professionally and there are no fundamentals to bitcoin that gives it value. When you invest in a ticker you're really trading on a valuation of future cash flow for a company, bitcoin has no inherent value. It's currency speculation.
When you do currency speculation you're betting on the faith, credit, and economy of a certain country and or central bank that issues the currency. Bitcoin has no meaningful economy, it is an inherently unusable currency for a multitude of reasons, mainly the facts that it has no countercyclical monetary controls to control money flow and no way money multiplier effect from banks that could leverage the deflationary tendencies of Bitcoin. Bitcoin is just based off of speculation, and speculative bubbles are basically an incredible way to lose money.
Can you make money off of bitcoin? Sure. Can you lose way more. Absolutely. You should make investments based off of fundamentals and numbers, not off of the Bitcoin slot machine, especially at such an inflated price.
---------- Post added at 12:22 PM ---------- Previous post was at 12:20 PM ----------
Quote:
Originally Posted by Nicholas
Not investing in cryptocurrency is dumb. It's just a matter of time before it hits the mainstream. Short-term ability to make and lose huge amounts of money are both feasible. Long term I think it's just a matter of time before it becomes a part of our day to day at which point the cost of the coins will be much higher.
I have a few hundred in, but I've basically forgotten about that money now. I'll let it do it's thing and see where the ride takes us.
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The mainstream of cryptocurrency will be a federally backed crypto whose value matches the dollar. I think it will happen pretty soon, and I personally would welcome it.