This Bear market

[couta1]

Well said, Crypto is nothing more than the current version of the tulip / deer velvet / angora goat boom that went bust although at least with those three they were actually real things. Supporters will say, no wait,, its different this time, (where's my Tui ?)...just like every other supporter of every other temporary "craze" said last time.
Because there's not actually anything real and tangible its really just a Ponzi scheme in drag in my opinion.

You won't be saying that when you have a Digital currency ruling your life, get ready cause its on its way, but wait you say its not real or tangible, that won't alter its reality.

[Azz]

Well said, Crypto is nothing more than the current version of the tulip / deer velvet / angora goat boom that went bust although at least with those three they were actually real things. Supporters will say, no wait,, its different this time, (where's my Tui ?)...just like every other supporter of every other temporary "craze" said last time.
Because there's not actually anything real and tangible its really just a Ponzi scheme in drag in my opinion.

If you would explain "real and tangible" and how it relates to the value agreed between buyers and sellers please; you sound like a really intelligent person with an extreme amount of applicable knowledge and life experience.

[Beagle]

If you would explain "real and tangible" and how it relates to the value agreed between buyers and sellers please; you sound like a really intelligent person with an extreme amount of applicable knowledge and life experience.

I think its clear enough already. People are simply playing Russian Roulette with which crypto they think might go on to become a widespread means of exchange. That's gambling, not investing.

[Azz]

Lol - hope you enjoying your “protection against inflation” & “store of value” there buddy.

Bitcoin is a terrible investment to people of a certain antisocial personality type who also have not invested in it over its current 13 year lifespan.

[Azz]

I think its clear enough already. People are simply playing Russian Roulette with which crypto they think might go on to become a widespread means of exchange. That's gambling, not investing.

"Clear enough already"...? That's unfortunate. I was interested in your great wisdom and insight.

[mike2020]

"Clear enough already"...? That's unfortunate. I was interested in your great wisdom and insight.

I think if you take a good long look at the history of crypto with a new set of eyes. I knew people "mining" bitcoin and it is the currency of choice with scammers and dark net dealers. Give it some cred and it's still lipstick on a pig. The only reason the make it more acceptable to mainstream is tax.

[Beagle]

"Clear enough already"...? That's unfortunate. I was interested in your great wisdom and insight.

There's any number of experts (such as Warren Buffet to name just one) that think Crypto has no value.
Eventually digital currency of one form or another might go on to be a widespread means of exchange but there is no plausible or reliable way of saying what form that might take and whether any of the existing crypto currencies might be "the one".
I'm not pretending to be an expert on the subject, I just think this is an extremely risky and highly speculative area of the market. Crypto pays no dividends and earns no interest but in news out overnight it appears one major exchange has been halted because of outflows and it would seem some people were lending their crypto at interest rates up to 18% per annum. In my opinion a lot of this speculation has been fueled by a tech asset bubble not dissimilar to the dotcom boom just over 20 years ago.

The Nasdaq lost about 90% of its value as the dot.com boom came crashing back to earth in 2001 and 2002. The same or worse could easily happen to crypto. The bear market in tech and in crypto in 2022 has happened at the same time. Coincidence ? One of the big arguments was that crypto was going to give valuable diversification. The Bull and now Bear markets in tech and crypto seem to have happened pretty much in sync from what I have observed. Nasdaq has been in a Bull market ever since 2007 until recently.

I invest in productive companies that pay me good dividends. Wild speculation in digital things like Crypto of NFT's that pay no dividends and can only go up based on the greater fool principle is not for an aging Beagle nearing retirement. Maybe for a young person as a very small part of a very well diversified portfolio but its not for me. In my career of 40 years as an accountant I have seen Deer go up as high as $20,000 a head as lots of people thought the Velvet from their antlers was the panacea for all their ills and Angora and Cashmere goats go as high as $15,000 a head as what they produced was supposed to be the next miracle product. Neither of these livestock types are anywhere remotely near those values now. It was all based on limited supply, demand and speculation about the next big thing that was supposed to happen. Hope that adds some useful perspective for you.

Easy riches can disappear just as easily as they arrived https://www.cnbc.com/2022/06/14/cryp...reum-fall.html

[Balance]

And when will this "below $1,000" Bitcoin price happen, exactly? Because I predict NEVER.

When is the right word - because it is not If.

Warren Buffett believes it is overvalued at $1.

[Azz]

Warren Buffett believes it is overvalued at $1.

Well in that case I'll start loading up on it at $1 then! If you would point me to a seller or an exchange where it costs that much I'd really appreciate it!

[Snow Leopard]

There is a perfectly good Cryptocurrency Sub Forum for this sort of mindless argument and I strongly suggest that you all take yourselves and your worthless opinions off to it.