Given that he has sold most of his stock in the company last month, I'd be concerned.Originally Posted by mr noble
Someone who lies about the little things will lie about the big things too.
What’s the thinking for how high Bitcoin can go?
I have to try and forget that at one point I had just under a single Bitcoin. Probably spent about £800 on it and sold it for £6000, so can’t be too upset but now that it’s £40k I can’t help feel gutted.
So, is it near the top? Can it double again?
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Someone who lies about the little things will lie about the big things too.
I'm in the probably hit $75-100K - i'm taking profits all along the way to this area i'm happy with that level of profits (bought in 9-15K).
Can afford to leave a little 15% (? - haven't decided yet) in case it does something crazy and hits some of the wilder 200/300K predictions.
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$100k would be something else; it would make an incredible number of people millionaires (theoretically at least, how easy it would be to get that money out is a question I guess).
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Ha. $1000 would have been thought crazy at one point so you never know
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One of my good friends got me into Bitcoin and he really beats himself up about having sold his and not buying more. But it’s easy with hindsight to see when you could have bought and when you could have sold, so it’s tempting to overthink it. I don’t have enough spare money to risk it. If it crashes again I might buy in just so I don’t feel like I missed out. Instead I can try a new feeling of my investment becoming multiple times less valuable
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Well the IT guys I mentioned are now sitting on a 7 figure sum apparently and my colleagues 2k punt is doing extremely well. He’s just in Telcoin but they are spread across a few things apparently. They have been doing this for 2 or 3 years.
When I made this post I considered between a 5k to 10k punt (a punt is what it is as I don’t understand it) and in the end invested £00000. Oh well I’d be laughing now.
Bitcoin will be over 200k by the end of 2022 imo
It won’t be a straight line though, there will be drops along the way. I expect the worst of these to be under 20% as opposed to the more regular 40%+ drops of the past
The growing opinion of “never sell Bitcoin” isn’t something I’m completely convinced about yet — there are companies popping up paying you interest against your holdings etc but it’s way too early for me to get involved.
Last edited by demonloop; 13th March 2021 at 17:28.
The Biden Stimmy cheques will send BTC blasting i the next few weeks IMNVHO
Telcoin is interesting because it is one of the few coins that has a purpose and USP around providing remittance corridors in developing countries where few have bank accounts but many have mobile phones. To be successful they need to have 3 things in place:
1) A usable app
2) Regulator approval to operate in countries
3) ideally mobile operator agreements
(1) is in place - with a strategic partnership also established with GCash; (2) is in place for some countries with others in the pipeline; (3) is in progress. No surprise that the the value has tripled in a week. I suspect this coin will land in Binance soon which will have a multiplier effect on the value.
Chart updated to Friday's close.
Is Elliott wave analysis still used at all?
How do you calculate the -31% / +131%?
Chart updated to Friday's close.
Is Elliott wave analysis still used at all?
Someone who lies about the little things will lie about the big things too.
Is the Baseline line the point were Raffe almost (should have!!) bought in??
No, that was even lower: the absolute lowest point on that chart, it was that tiny line down to 16.5k on Thanksgiving Day.
But I would have sold at 22k or 25k anyway.
Someone who lies about the little things will lie about the big things too.
LOLZ, Raffe you would have NEVER bought Bitcoin at 16.5k.No, that was even lower: the absolute lowest point on that chart, it was that tiny line down to 16.5k on Thanksgiving Day.
But I would have sold at 22k or 25k anyway.
What price of bitcoin before you admit you were wrong?
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The result of an unconscious design flaw in the script, arising from an inability to imagine a level as high as $50K within the agreed time period. V.next will also need to overcome the issue of diminishing horizontal screen estate. Watch this (lack of) space.
What do you mean wrong? I will never buy bitcoin as an investment, I think the design is flawed and it serves no purpose. You will not convince me of the opposite no matter how far this craze moves the price.
That doesn't mean I won't buy and sell it for trading purposes. I don't do it very often, the simple reason being that the smallest unit to trade by futures is 5 BTC, which combined with its inherent volatility requires rather large conviction.
I posted on the day that this was a good level to buy, in fact I had the order in at $16,500 but then thought better (?) and cancelled it again.
Haven't been tempted again until last week, for the first time ever using GBTC (bought a very small position at $42.05 and sold at $45.23).
Someone who lies about the little things will lie about the big things too.
You answered the question yourself there what I meant by 'wrong'. I think the design is not flawed (almost opposite in fact - some say a pristine collateral) and serves a huge purpose as a store of value, particularly given the monetary backdrop since covid.
Question if I may.. What are your thoughts on M1 money supply increasing 37% since 2020? Does it mean that unless our investments/assets go up by the same amount or more, we are actually less better off? What steps should one do to mitigate against this? Gold has historically been seen as a safe haven but even that has underperformed despite the huge money printing.
Finally, it's worth mentioning that although bitcoin is fairly new (12 years) and understandably deserves skepticism, fiat currency's history is not that much older at 50 years only.
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With that nonsense post you have clearly proven that you have not the slightest idea what M1 is.
Have a nice evening.
By the way, my portfolio is up by >80% YTD. I don't need to invest into shitcoins for that.
Someone who lies about the little things will lie about the big things too.
Bitcoin up over 100%. By just holding. Just saying.
(No idea what M1 is either!)
So you got your entire portfolio in bitcoin?
Someone who lies about the little things will lie about the big things too.
I don’t, but we’re discussing your portfolio. If you had, you’d be up over 100%. And over 1000% in the last 12 months.
I could have also invested all of my portfolio in GameStop and be up 6,000%.
I didn't.
Someone who lies about the little things will lie about the big things too.
When I bought into bitcoin it was less than 5% of my invested money. It’s now worth about 15-20% and I’ve sold some bitcoin (and added no money to any of my other investments)
I wouldn’t compare the two investments but accept your facts are correct. There’s probably a similar rise with Tesla over a slightly longer period. I would touch GameStop or Tesla with one borrowed from you :-)
Great.
Is your portfolio up by 80% this year?
What is it with this missionary stance with crypto folk? You buy crypto and I don't. I am happy with the outcome, if you are as well, great.
Someone who lies about the little things will lie about the big things too.
I know someone that bought 4000bitcoins when they were $1 each, he sold out at $3
That leaves him with $8,000 profit. I bet you that is more than most of the missionary believers on this thread have ever earned with their penny investments in bitcoin.
This is why I can’t accept Bitcoin as a currency, it’s measurement of value is only when it’s converted into ‘real’ money.
Cheers..
Jase
The same can be said of any currency. A year or so ago USD dropped to 1.15 Vs GBP so I bought a chunk. I sold out at 1.30 it's now 1.40 but still banked a profit. All currencies trade in pairs to other currencies.
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Ahem.
The Dollar didn't drop to 1.15 but GBP dropped to 1.15.
If you bought Dollars at 1.15 versus GBP, you bought the most expensive Dollars you could buy since 1985 and there was no way you could make money on the trade. Also, fairly unlikely you would hit the exact lowest point in 35+ years (the low was 1.1477).
Just saying.
I think you will have more problem with Vertical screen estate. There is a reason that log scales tend to be used over time with Bitcoin.
To be fair to Raffe I do recall his ***buys that were not hit.
***They may have been classed as instrument buys rather than real coin buys though, so I guess you have a point too KingKitega.
This thread is polarised (lol, like many on TZ). I absolutely get that people don't get the concept of Bitcoin. It took me time and research to change my outlook and mindset even after I first made my first speculative punt. Part of this lack of understanding will be based on trust in the system. If we take a macro view of world populations, then where is that view trending? Are the younger generation more or less likely to trust? Educationally, it is harder for single world views and economic concepts to not be challenged. Keynsian economics is the current cornerstone of the system and indoctrinated from classroom to adult (no wonder mindsets are so hard to shift!) The problem is that in practice, Keynsian theory is open to violation and more people are seeing the side effects of that corruption.
What I find interesting is the amount of counter-theory and circular FUD spewed about Bitcoin, particularly by the media. It almost acts as a planned dis-incentive to keep the price lower for periods... I wonder who benefits from that?
If we take this thread as an example, the amount of time and effort to find artefacts to discredit Bitcoin by people that have no position or holding in it is an eye-opener. The amount of vitriol aimed at this pretty tiny asset class has made up my mind that it has to be part of my portfolio and I take full responsibility for that decision. Best of luck to all of you, whether you hold some or not.
That doesn’t make sense, you’d have lost money as it was the pound that dropped. If you had dollars and bought the pound with them and then sold them back into dollars you’d have made money that way, but not the way you’ve said.
Sorry yes I admit I'm wrong here :ashamed: - I thought M1 was a measure of the money supply, but it's not broad enough. My angle is really that the entire money supply has greatly increased through central bank money printing/QE since 2009, and accelerated during covid. Perhaps M4 is a better measure? Seems there is no consistent standard across the various central banks.
This is what I believe is causing asset inflation, and a large reason I've parked some of my wealth (now worth 6 figs so not insignificant anymore) in crypto as a hedge.
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He's coming after you Elon.
"At Bitcoin's current price of $61,000 (I'm writing on Saturday afternoon March 13), the currency's secretive creator, Satoshi Nakamoto, is now one of the 20 richest people in the world."
https://www.celebritynetworth.com/ar...to-20-richest/
New money is coming to the crypto market so I believe that we will still witness the bullrun for several months. As for me I guess that it is a great opportunity to invest in crypto. On the other hand, it is a very volatile market so if you want to try your hand at something more traditional I would highly recommend to try this https://libertex.com. There are tons of hot assets!
Last edited by Owren; 30th March 2021 at 21:28.
I'm sure it's been covered before, but what's the best way to get bitcoin exposure in a H&L ISA? Or failing that, any simple way, via a trading app?
You're limited to a few stocks on the Hargreaves Landsdown platform.
ARB, MSTR, RIOT, MARA, KR1 and COIN I think is pretty much it. MSTR - Microstrategy is the closest you'll get to buying actual bitcoin.
On other trading platforms, you're still banned from buying Bitcoin or derivatives of it in the UK. So the only way to really buy it is to open a proper account with Coinbase, Binance, Kraken or similar and buy actual Bitcoin itself.
DYOR.
Thinking on from my post above.....imagine where the price of BTC would be right now if the EU and many other countries around the world had not imposed that ban!
If every man and his dog across Europe and beyond was able to use cash in their SIPP and ISA to buy a Bitcoin ETF like we were prior to Jan 2021.....I think things would be well up from where we are now.
Thanks for the thorough answer and sorry for the lazy question!
The trouble with buying MSTR is that you are not only buying bitcoin but also a lot of air. In the end you are buying bitcoin at twice the price, which is fine as long as you find somebody else who is prepared to pay you twice the price when you want to sell.
Someone who lies about the little things will lie about the big things too.
I think MSTR has settled down now and is roughly valued at the pre BTC stock price plus the value of the 91,000 BTC they own?
Maybe still some air when BTC is on a charge, but it dipped below the NAV a couple of weeks ago when it got to $550.
No way.
Who had the model, Pete?
Someone who lies about the little things will lie about the big things too.
I’ve said it before, but if you want exposure to bitcoin, buy bitcoin. The only possible reason for not doing this is the inability / unwillingness to use your own funds in favour of using your pension. But the initial point still stands imo.
There is definitely a premium (hot air if you like) in buying any of the aforementioned.
That was quick, Pete!!
You see.....there are a time when the stock was worth less than the NAV.
That was a good day to buy MSTR.
This.
Someone who lies about the little things will lie about the big things too.
I'm not sure really.
1. You might simply want to use an account you already have, in my case an ISA wrapper. Not necessarily your pension.
2. Buying bitcoin doesn't seem super straightforward, especially when you look at the risks involved with the various exchanges and different types of wallet.
Personally, if there was a good derivative / tracker product I'd much prefer to use that than the added hassle and complication of holding actual crypto.
I'll do my own research and will probably end up buying actual bitcoin.
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