Bitcoin Forum

Why the duck is btc at 13.526,98 USD ?

I honestly just don't understand bitcoin as a financial instrument/asset ,all financial books tell me that i should never buy bitcoin ..bitcoin it's mind f...king

Finance ,economy,investing books need to be rewritten as all they say in those books ,bitcoin is doing the opposite ...if btc goes 20k Warren Buffet is dead to me ...

https://www.youtube.com/watch?v=eTMj4cg64yw

How is it possible ? ( beside whales pumping the price )

Did Warren buffet ever speel negatively about bitcoin?

Also those authors need money from somewhere so they might not have done well themselves. I feel people recommend financial books just so others get used to reading quite a bit... For the authors that do manage passive income - or anyone for that matter - they did it in a safe(ish) reproducible way. Investing in bitcoin is like going to a company in silicon valley, listening to a talk and deciding to provide capital - both are similarly risky and if you say the likelihood of bitcoin of other currencies being suggested to you is similar then you might well be drawn in the wrong direction...

Bitcoin's still a speculative asset though.

Bitcoin is to good to be true that's why it scares the shit of me ...

Too good to be true if you didn't know how bitcoin/blockchain will revolutionize the future finance of the world. Bitcoin as a first mover in cryptocurrency has the upper hand on this crypto price race and there still only few user out of the total population the world that hold and use BTC at this moment. So there's a great chance that it will go higher once the hype train moves again just like what happened on 2017.

I understand this feeling of yours, You missed to buy BTC while you have a chance before. That's why you are creating a negative thread on BTC to give you a peace of mind.  ;)

If you were in the early stages of Bitcoin, you would have never thought of that about Bitcoin. If you were just recently a part of Bitcoin, are more likely to be surprised by how much volatility it goes through. It's not easy to experience that, but it's part of it. Just like what jackg said, it's speculative.

If you were to consider that the initial price equivalent in fiat was $0.0008 your mind would blow.

In many cases, those authors who write against bitcoin do so because they perceive it as a threat. In some other cases, they even do it to drive down the price and buy bitcoin on the sly.

Just educate yourself a lot on the subject and decide whether they are correct or not.

I'm surprised you hadn't heard. He called Bitcoin "rat poison squared." He calls it a "gambling device" and ridicules it for not producing anything. This is my favorite:


https://www.cnbc.com/2019/05/04/warren-buffett-says-bitcoin-is-a-gambling-device-with-a-lot-of-frauds-connected-with-it.html


I'm glad there are still so many haters and skeptics. That means BTC still has a lot of upside left.

I don't understand either. I'd see any point of that action if whole crypto market would rise, but its literally only bitcoin and maybe a cople more.
No big news occured lately either, strange stuff

Not only you don't understand bitcoin but you have no clue about financial instruments, nor assets nor the economy in general and yet that hasn't stopped to start tens of topics on how the economy will be crushed, how entire industries are going to be wiped out, hasn't stopped to make false claims, hasn't stopped you to outright lie and so on and on. Get out of your bubble, realize that there are people with 100% different views on life than you who are doing just fine, and maybe you will realize that not only you don't hold the absolute but quite the opposite.
It's really painful to see how you're again wrong and again on the wrong side of the fence, isn't it? Yet you don't learn a thing!


Because the rest are useless shitcoins? Seems about right!

To op here is a value for btc.


https://bitcointalk.org/index.php?topic=5285438.msg55483708#msg55483708



If you want more values for BTC I can give them to you.

Here is one. They burn power.

WTF do you mean they burn power is a value?

Yep it is a value.

Every rainy season hydro dams have excess power they do not turn the water off.

they simply generate excess power.

asic mining btc can spend that power for those damns every rainy season.

So btc asic mining can be used to balance power loads across the world.

That is a real value.

If you comeback is people burn wastefully when there is no excess power.

My answer is yes they do.

Just like people misuse other tools such as a hammer.

Every year people are murdered with hammers.

So hammers are bad  answer no. hammers are neutral tool for people to choose to use correctly or badly

Same as btc a neutral tool for power use either correctly or wrongly.

It's possible because of huge marketcap. It might sound crazy for a single Bitcoin to be over that value, but it is what it is. Bitcoin has attracted lots of users and their attention to invest in it. Since Bitcoin is not unlimited, as the demand increases, so does the price. Hence, it's actually not at all crazy to think Bitcoin is at that price as it will continue to rise up more.

Being fair with OP I can't blame him for his doubt besides we're all entitled to it but the thing is he is new to Bitcoin and hasn't seen how was Bitcoin in the past and its continuous changes as it grows up to date.  Probably he will have his doubt if he started in the early stage of Bitcoins and witnessed how Bitcoins survive with all the critics like Warren Buffet is doing right now but they never won pulling down Bitcoin.

Definitely, you can't read any positive thing in financial books for those are written based on centralized assets that were taught in the school and it collaborates with the principle of the central bank.  The financial institution of the country which is not similar to the ideology of Bitcoin as a decentralized currency.

Why shouldn't bitcoins be at such decent prices? Many people use bitcoins as currency when buying products online, or just gamble. Almost all of the big casinos use bitcoins as a form to deposit or withdraw funds. I don't see any real reason why bitcoins should be not worth so much. In my opinion bitcoins are actually going to rise even higher next year.

Have Warren Buffett said anything bad about Bitcoin?
The time I saw him say something about Bitcoin was that he wouldn’t invest because he does not understand how it works or what it’s all about.

For financial books telling you not to invest in Bitcoin is because there are risks, and if you can’t handle the risks that are involved it’s best to stay clear from it. You should have enough money to risk in Bitcoin so that you wouldn’t have to worry much when the price goes down.

Why does it seem like you’re so surprised that the price of Bitcoin increased?

I love bitcoin to the core and I can never trade it with any form of financial instrument but to be sincere, Bitcoin currently is been manipulated in my opinion. I have observed some changes in bitcoin moves recently, it always do the opposite when you expect the price to fall and vice versa.
Last week for example, everyone was anticipating the price to fall back to 10k level as MACD on weekly Chart was about to change to sell off zone(red zone) but then, PayPal news roll out, good news comes when you expect the price to fall. I feel institutional investors are watching and wouldn't like anything that will fall it price. My opinion though.

Even people like Warren Buffett and Charlie Munger make mistakes along the way, they have admitted it many times themselves. The world isn't so black and white that you should simply ignore them in future if they made a mistake on the future of cryptocurrency - their trading history is still extremely impressive. Bitcoin is increasingly being used as an asset by different people to help diversify their portfolios, digital gold as it were, and having a little bit in your portfolio seems like a good idea with its current upwards trajectory. It does have a couple negatives, but when hedge funds and big operators like Paypal are buying it up - you know it has a strong future.

The BTCitcoin duck knows to fly and hence the price is rising  :P. The reason you find it hard to understand is because it is the only decentralized financial asset and you cannot coin the centralized assets to a global market

Why you want to kill an old man, the price going up is inevitable.
 
Are you using Bernoulli's principle for this pump  :P :D.

I honestly just don't understand bitcoin as a financial instrument/asset ,all financial books tell me that i should never buy bitcoin ..bitcoin it's mind f...king

The answer is really as simple as it can be. It's because of the demand and you are asking about it precissely because you don't understand it as a financial instrument.
How can I better explain to you why somebody is willing to pay x number of USD for decentralized, unseizable, deflationary and easy to hide form of money?

To be honest, Warren is already a walking relic of the 20th century.

Its still around after 12 years. Its not going to die - thats almost granted, but it may fall any moment basically.
If you're around long enough you should understand that crypto is all about volatility

Nope, not everyone.
Actually only people who are still trying like gambling addicts to find any pattern in the bitcoin price move in order to predict future prices were thinking so.
Seriously, how many times have those charts been proven wrong till now? Good that we're doing them in digital form because if we were to print even only the wrong ones we would have to cut twice the rainforest for paper.
Just because once in a while the pattern seems to match it doesn't mean in two seconds your whole prediction can be thrown in the trashcan.


But he still beats the crap out of a lot of 21th century investors, and seriously he's 90 years old, who here can say that when they reach that age they will still be open to new ideas, playing with stocks, or taking advice from the younger generation...or even alive!

It isn't bitcoin that's blowing your mind but those are the books that are telling you not to buy bitcoin. You missing a lot in this party. While most of us have profited already with the rise, there are still those folks like you who are still in the depth of thinking whether to buy or not.

But if it scares you a lot, then that simply means that you have no idea why is it scaring you. We have also our thought that makes us doubt an investment but in this matter, we're all aware that bitcoin is very volatile but it's not the kind of asset that you're thinking.

Warren Buffet in that literal video explains to you that he has a "preference" on what he invests and that is about it, he is not talking about why it is such a bad idea that nobody should ever touch it, he doesn't even gold for Christ sake and that is saying something, he knows that he could be right or wrong about crypto, he says he dislikes gold while trillions pour into it so he is not denying the acceptance of gold or crypto, he just talks about his preferences.

He wants to invest into things that produces something, he is a big investor in many insurance companies and banks so it is weird what they "produce" but he also buys huge number of stocks from places like coca cola or gilette as well which produces something. I respect his decision to not get involved with something that he has a reason to not get involved, it is acceptable.

Because it is nothing like we have seen before. It is normal to feel frustrated when you don't understand something. We still don't have a solid framework to analyse the intrinsic value of Bitcoin. We can find out the current valuation of traditional stocks with many different methods based on their earnings and assets. Bitcoin price is mainly speculative and driven by supply & demand like any other marketable thing in the world. Keep in mind that BTC is very scarce with a limited supply of 21M from which 4M (probably more) is lost.

When big companies are taking positions and PayPal announcing integration with cryptocurrencies, what can you expect? The signals are in the market.

With the tremendous respect I have for Warren Buffett, he is not God. He CAN make mistakes and his at an age when it is much easier to stick with the old ways.

Most of the time those who are willing to take the risk gained a lot, better to start learning with personal experienced than relying with books

and so called experts, no need to keep everything according to what you read but it's also better to stand against those believes and travel

your path in your own directions.

Afterwards, it's your decision that matters, whatever your take always reflects to your own investment.

Besides the whales pumping the price, people are actually supporting and investing into it. How did you expect the whales sacrificing millions of dollars trying to pump the price without the investors? (If that's what you believe)

I guess you should stop listening and reading anything against Bitcoin and start learning how the crypto market works.

Today bitcoin is 13.5k. Tomorrow it may be 15k or 10k. In the next year it could be 20k or 3k. We all see great dumps and pumps here. You forgot about it, man

What this pandemic period showed the world is that we could totally move into a more digital world that is possible and we haven't done that for way too long. The year is 2020, there is very little you can't do at your home anymore and that is why the tech should be catching up to people instead of people trying to downplay the improvements of technology. Think of all the people who go to work, or do anything else, most of them are doing that because it used to be "required" for them to do that right?

Now think about how hundreds of millions of jobs could switch to homes, that is just business side of things. So, digital age is coming and people realize that if you see digital age coming maybe digital money is coming with it so they increased their investments on digital currencies as well.

First of all those financial books that you are reading might have been published even way before BTC came into existence. The idea is new , it would take time to be accepted in the society and till that time you have to ask yourself : why are you on this forum and writing this post ?

- the answers is : you are interested in Bitcoins

In the future if you do decide to buy bitcoin you have to make sure you do know everything, the basics and deal with the volatility too.

It's a long term investment for me, an opportunity through which I can work from home without much problems. It's an important part of my life which did help me start my artistic business too. I think you should understand the meaning behind Bitcoins , their existence , you should also try it for yourself and then write another book maybe ;) a new financial one , which doesn't only look at the Bitcoins but at the big picture as a whole.

"DEMAND"

Main reason on why we here and why it had reached out such value. Fan of reading those financial Books and Idolized those traditional investors or known people into that market?
Dont get blinded too much yet this would really result into missing out such opportunity here on making money with crypto specially with Bitcoin.
Lots say that it is shit, its not a financial asset blah blah and all negative things that can be thrown but look at on where we now? Bitcoin is unpredictable,
it can turn peoples belief upside down and made it to support and we have seen that lots of those perma-bears back in the past had already changed up their
mind now.

It is understandable that there are people who wants to know more about bitcoin. And what they do is getting as much resources that they can including the books. We have nothing against those but obviously, if a newbie reads a book about negativity of bitcoin or the author of it is a known economists that dont agree with bitcoin.

They are only getting information that are negative towards it. In the end, experience is the best resource where we can learn lessons. Actual lessons which is why we are believing in the true potential of bitcoin.

I watched the link in OP's post. This is the first time I am watching Warren speaking about crypto.

He clearly describes crypto as a "non-productive asset" which its price relies on somebody that would want to buy it from a higher price. He kinda sees it as a pyramid scheme and sees no value in it.

The way he described bitcoin like it was a bank check book... He said something like "You don't value a check just because it transmits money."

That comparison was pretty negative for bitcoin in my opinion. I think It is pretty much like a fuck you kinda comment.

Obviously being able to send money without needing banks has no value to Warren B.

On the other hand he doesn't really like Gold neither. What he likes is, companies that dig gold. Maybe he would invest in bitcoin mining companies...  8)

The BTC market is not being controlled by some sharks anymore and there are lots of investors so even if a few guys or a group wants to pump price they cannot really pump the price.

I don't know what people really want because when the price was down they complained why it is going down and now as it is gaining some bull run people are now again complaining why the price is going positive. I understand we all want to have a reason for either up or down movement of price but really right now it is too easy to predict that because PayPal allowed Bitcoins purchase recently that is one of the biggest reasons aided by other reasons as some mentioned by others.

Can you tell me the author of your financial book? Speaking for myself, only people who do not understand shit about bitcoin can smoothly say that bitcoin is a scam or whatever like that. Following the trend is what I have learnt for many years as a trader. And this trend is backed by many big corporations, famous people, investors and whales. And most important, the technology behind is the strongest support ever. Although bitcoin is used in an incompatible way with its primitive purposes, you can't deny the fact that right now, it is believed to be one of the trustful assets by many people

Becoming a speculative asset makes people aware more about the existence of bitcoin. But it also makes bitcoin weaken, whereas whales can easily manipulate the price of bitcoin in order to make money from small and ignorant investors. However, if you have fate on bitcoin, dont be scared of putting more money on this cryptocurrency. It can make you rich someday

Bitcoin is effectively new ground so it makes sense that it does not adjust to the current models and if successful then the current models will have to be adjusted, this is one of the reasons why there is so much opposition to bitcoin by the way, think of bitcoin in the same way that electricity was thought at the beginning, it was a complete new industry and at the time it did not made a lot of sense to introduce this new technology when the technology of Kerosene lamps was so trusted, why people at the time needed electricity to light their streets when Kerosene was doing such a good job already?

And that is the same question that people ask themselves about fiat and bitcoin, why do we need bitcoin as a currency when we already have fiat and can use it to buy whatever we want? And the answer is simple because bitcoin is the superior technology and it is based as well on superior principles.

Why the duck is a yellow stone called gold also valuable?  ;D
Traditional? History? Bible? Symbol of purity?
It's just a ducking stone.

We are in a different era now and as for my experience, I pay more using a plastic card at physical stores or a QR code.
Then, deliveries being paid digitally to avoid contact.
I think that explains a lot. Somewhere in the future bitcoin will not just be bought as an asset anymore.

I agree that people can't call bitcoin a scam without really understanding what it is. Even today there are tons of people who see the price of bitcoin and ask about who owns it, like literally think about bitcoin as something that has a company behind it or something and think there are people who are behind it, which you can't really help by explaining satoshi neither because that is when they would think there is a secret guy behind it as well.

I have the same thing with my own father, he knows that I am interested in crypto and whenever there is a huge increase in bitcoin that makes it to news or at least newspaper he calls me up and says "your stock is up again" and that makes me laugh all the time, he still thinks I bought a stock called bitcoin and doesn't get it.

People who doesn't understand Bitcoin call it scam since they doesn't know about it and might they will always link it on those Ponzi schemes continuously running on social media's, and it's no surprise to ask about who is the owner or the company control it since many want to assure the safety of their investment but the least we can for them is to make them understand the simple scenario and other positive possibilities since if they really got a interest for sure they will voluntarily seek for more information to know the bitcoins well.

To be fair to gold bitcoin was inspired by it which is why we see so many people making comparisons between gold and bitcoin, however as you say we are in the digital age an bitcoin being digital will have an advantage over gold, however if for some reason our technological level went down followed by a period of incredibly slow technological advancement then gold could make a comeback.

Now this may seem impossible at the moment but this has already happened during the Dark Ages after the fall of the Roman Empire, but if nothing this dramatic happens then I think that bitcoin will eventually erode the market cap of gold until in a distant future it finally surpass it.

I do not agree with Warren. You can invest in your coin which generates profit for you. The most you invest your money with the blockchain more you take the benefits.
The fact is you're helping to promote blockchain technology which grows with your little investment.

---

I personally think that Warren is uneducated in the field of blockchain people like him always discourage people and mislead them just because it threatens the fiat and people may leave using their fiat currency and move to crypto.

You realize that you're making the whole thing sound like a bulletproof way of making money no matter what?
Just buy coins and you make money, simple as that, wow, you've just solved world poverty!


Yeah, I'm sure Warren Buffet is so deeply concerned with people moving money from fiat to cryptos, what is he going to do with all his billions when this happens? Poor him! Btw the guy is 90yo, ninety years old!!!!!, you honestly think he really gives a damn what will happen ten years from now?
He holds shares in Kraft, Coca-Cola, Apple, numerous Airlines, and a thousand more companies who don't give a damn if their products are sold for dollars, euros, or bitcoins as long as that has value.

This is nothing, where you were in 2017 when the price was $20,000 ?. Today the price is higher than $13k and it will soon reach the exact price which we had back in 2017. Bitcoin is start utilized worldwide and most mainstream money, individuals used to purchase stuff, betting, and use it as an online Payment strategy I am wondering by thinking, why you're imagining that bitcoin not worth that cost.

Do not believe too much in books, what is written in the book is just the opinion of a certain author. Just read and acquire the necessary experiences and select your knowledge, do not let anyone's opinion beat your beliefs.
Bitcoin will not stop at this $ 18k5 price, it will increase even more in the last days of 2020. Skip the shitty books, buy Bitcoin now to make a profit. Don't waste time reading more books, it's all theory!

It’s only natural that you have doubts about bitcoin and are surprised by the changing price of bitcoin, especially now that the price has reached $18,291.
This is the uniqueness of bitcoin, where the price is very volatile. For some people who don’t know bitcoin well enough, this is very dangerous,
because the price of bitcoin can go down very low. But for bitcoin investors, the volatile nature of bitcoin is very beneficial.
People who have bought at $13,526, when you write this thread, now they’ve made a profit, if they’ve sold it at the current price.
But it’s only natural for someone who has never invested in bitcoin to feel fear of bitcoin, because they haven’t actioned. They just read and hear stories
from people, or from internet.