Best bet is to be balanced between all three. "All in" on anything is gambling.
It is smart to balance, even between all three as you suggest, but surely, such balancing would be a rare to justify equal parts. For example, bitcoin does the vast majority of what gold is purported to do, which is a hedge against the dollar, so having any more than 5% to 10% in gold as compared to bitcoin would be an over investment in gold. For someone starting to invest into bitcoin, they would likely be better situated if they establish themselves in various ways first, at least covering their fiat expenses before allocating to bitcoin, and 10% in bitcoin, as compared to fiat investments seems like a good start.. but with the passage of time, bitcoin is likely to appreciate more than fiat, and therefore it would be justifiable to allow the allow the bitcoin allocated balance to become more and more weighted towards bitcoin.... maybe cashing out a bit of fiat along the way for likely inevitable BTC volatility insurance purposes. It all depends on the individual. I wasn't suggesting equal parts for everyone. Age, lifestyle, children, debt exposure, etc. are all issues. For me, I still believe in a heavier fiat/gold/real estate foundation of 80% (roughly) and only a 10-20% in crypto (and that varies greatly, because that's the one asset that I readily flip depending on the market). If we're being realistic, it's the only asset in the discussion that has the greatest possiblity of going up greatly OR to zero. There are also speed issues involved... crypto moves faster, so again, it could mean greater rewards, but it also means faster crashes.... you're much more likely to be able to adjust accordingly to market issues involving fiat, gold or real estate. |
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Except the fact that most buyers and sellers of any large market cap item are whales on both sides. The little fish are just people in the stadium with a small stake in the game, .... just because you could afford a ticket to the game, doesn't mean that you are on the field playing. It's delusional to think otherwise.
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Best bet is to be balanced between all three. "All in" on anything is gambling.
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The US dollars doesn't need any help in beating itself down. It's like that one friend who always has his or her credit cards maxed out and still hasn't even paid off their mortgage.
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Vancouver needs to worry more about their homeless problems rather than bitcoin ATMs.... although I do understand the logic, the city is a haven for money laundering. Not sure why they don't consider shutting down the casinos in town... as those are money laundering waterfalls compared to the dripping faucets of a few btc atms.
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Just like any other ATM. Best to use one that is located in a shopping center or anywhere you know that there is little chance for it to be tampered with. As for required KYC.... usually it just wants you to insert your ID card or driver license. They do need to have more machines that are able to scan passports as well though, as not everyone has a 'local' ID.
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Shrimp/Krill/Minnow: "I hate whales because they don't allow the price to rise high enough for me to do the EXACT SAME THING."  |
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One thing you can do is lower your expecations. Be happy with a $2500 gain in a month. It's a dream come true. Be happy with a $500 gain in a day. Sorry, you probably won't make $500k in a day (some will make more, most will make less). Because you don't have that much invested, some people do... because that's life.
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No offence to Nigeria or Nigerians, but why is it that there are so many transactions involving folks from this country on Paxful? My bank accounts are in Singapore, the US, and Germany, and I'm sure I would not be able to receive too many transfers from Nigeria without my bank calling me up. Not to mention the generally bad repuation the country has regarding scams (again, no offence but that's what the reputation is).
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You will much more often have issues doing SWIFT transfers in large(ish) amounts when compared to BTC transactions. You can't even legally cross most borders without reporting that you are carrying more than US$10,000 in currency. You don't need to declare that you are carrying $10,000,000 in crypto because technically, you're not carrying anything as the funds are on the blockchain. No search of your luggage or carry ons will ever reveal large amounts of crypto. Try it with currency or gold and you'll wish all you had to carry was 12 random words written in a few different places.
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It's funny and not just referring to the original troll post... but you'll see similar themes on other forums. Many whales there are simply folks who got into the market a few years before you did. Many of these people who have 7-9 digit net worth figures just happened to invest (whether on purpose or just on a whim) amounts in the range of $5-50k just 9-10 years ago. Hardly stereotypical 'whales' of Wall Street sitting in mansions and petting an oversized cat.
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It's not a contest. It's like saying you can't drive a BMW if your wife drives a Lexus. Both are fine.
I think he is saying that he is still into 'metals', so OP is agreeing with you. He is mainly pointing out that people on precious metal forums are raging about bitcoin, when really you would think they would be embracing it as almost a digital gold. Yes, I wasn't replying to the OP per se, it was a general comment to the crowd of folks (usually crypto shills that own a very small amount of BTC and whose only hope is a moonshot in btc price) that seem to want to make issues out of one being better than the other. |
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Steadily balance a portfolio of all three and you'll sleep better... and for some people, you'll be less irritable on internet forums. |
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Too bad none of the major travel sites accept Bitcoin. The Expedia bitcoin trial period ended rather quickly.
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Time to do something about the few whales who keep cheating everyone out of their life savings.
Let's do a fork and take anything over 10BTC away from those big addresses and redistribute it fairly to everyone. It is ridiculous and totally ruining everything when one person has 1000s and can mess up the order book on a major exchange. Where is the fairness in bitcoin?
We have to end the whales who are out of control.
LOL. And short non-athletes should be fairly redistributed in the NBA and NFL. |
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And for me a money is something that the most part is using, i can't currently buy my bottle of milk with bitcoin for example..
One day Maybe but currently no.
I can't use Swiss Francs at my local 7-11, but it's definitely money. I have to go to the ATM first and withdraw Singapore dollars (converting them from Swiss Francs automatically). End result = 1 bottle of milk purchased with CHF. I can't use Bitcoins at my local 7-11, bit it's definitely money. Couple of similar steps involved..... End result = 1 bottle of milk purchased with BTC. |
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Exactly. Beaver pelts were considered 'money' for 200-300 years in colonial North America. That said, probably also a good example of why one shouldn't fall in too deep of love with any kind of money. Crypto may indeed go the way of beads, beaver, and paper money. Know when to get in, trust your senses as to when to get out. Barnes and Noble used to look like a market favorite compared to Amazon (if you looked at their bottom lines back then... Amazon had about $20 million in sales while Barnes had around $2.2 billion)... glad I didn't HODL that one. But I did buy and sell it quite a bit in the 90's. Don't forget to take your profits. Your homes and land will still be there when the dust settles and you won't even care about what stocks or cryptos you held back in the day.
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Well, you have around 700-900 million people in the world without tapwater and/or electricity so I think they might have some other priorities before building up their crypto portfolio. |
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Can we have the original post again in English?
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Gold is indeed money. Bitcoin is money. It doesn't mean it will always be money (the same for US$ or any other fiat currency). At present it is. You can readily exchange all three (gold/bitcoin/fiat) at their respective market rates.
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