Latest posts of: Skieleton

Quote from: marjil on March 30, 2018, 10:27:56 AM

I have been reading the posts on this forum and so many people are saying they lost a lot of money and bitcoin is no good. Many people are saying that bitcoin and other cryptos have been a bad investment.

But if we look at the facts and the performance and compare to other investments that some people make we can see that this is not the case.

People are making the mistake of focussing on price changes on a day to day basis but investment is not about day to day price movements. It is about patience and reward.

If we look at the changes in one year we can see that bitcoin has performed many times better than all other investments. For one year bitcoin has gone up a massive amount. It was $900 this time last year! Now it is $7000. That has given bitcoin investors an incredible 700% return in just one year. The stockmarket average return for the same one year has given only 2% return. Fiat money has fallen. The dollar has gone down by 15%. Savings accounts have given a return of about 1%.

When you look at the returns and losses of all these investments, the best was stockmarkets that gave average 2%. So bitcoin has given 700% yet people are complaining that it has been a bad investment, even though it is 350 times better than the next best investment. What other investment has given you 700% profit in one year?

Remember, don't be fooled by day to day price changes. Look at the one year and the longer term facts. When you look at these you can see that if you invested in bitcoin you have made many more profits than everything else put together hundreds of times over.

Certainly, BTC is an interesting alternative to the current banking system, which enables quick and direct transactions down to minimal cost. It is promoted as an anonymous currency, but this is not entirely true. Nevertheless, it is a virtual creation existing only in the digital world. By using payment agents, if we keep BTC in a virtual portfolio, in practice we become addicted to them and there you can probably get to the transaction history. In fact, when deciding to buy or own a BTC, we agree to have a virtual creation that has no basis in anything, but which is more and more common and acceptable as a means of payment for many companies. I believe that Bitcoin itself, which uses blockchain technologies, has a future in the world of finance and beyond. It can be particularly interesting for people who want to speculate in the short term, because the course is very volatile and correlates with many events related to the BTC itself. I think that attentive and interested people will be able to see these relationships. In the long-term, it may turn out that BTC will be much more valuable than it is today, but it is a bit like phylum fortune-telling. Personally, I would not have spent more than 5% on capital. I also believe that governments will try to prevent a situation where any cryptocurrency threatens the current system and, as happened in Thailand, trading may be forbidden. If so, the question is then what about Our Bitcoins.