Bitcoin as an investment

[fewcoins]

Bitcoin isn't an investment, it's insurance.

insurance? are you kidding me?? what you mean with insurance???

http://www.usdebtclock.org/

That's what he means. We will see hyperinflation, or default, or a massive war within our lifetimes. Bitcoin is independent of any of the fiat economies. It's digital gold.

LMFAO! Is that why it is getting hammered along with gold??? BTC is looking like a 0.0001 penny stock that keeps going to .0002 & back down again & again... it's sad, please don't compare it to gold, anything but a real asset that has almost always held value on this earth. Get that pump n dump propaganda the fuck out of here, we are in the dump phase

[TeeBone]

Bitcoin was never meant as a investment and it is risky to do so.

The early hype was that since the number of Bitcoins that can exist won't change it will have better long term value than fiat.  This was after some years of savings accounts earning pennies per thousand dollars per year.  So, I'd say it was presented as an investment.

Marketing lies, guy. That's all it is, one lie after another. 'digital gold' is another good one lmao. Litecoin too is 'digital silver' lmao. The bitscam pyramid is one for the history books.

[RodeoX]

Bitcoin was never meant as a investment and it is risky to do so.

The early hype was that since the number of Bitcoins that can exist won't change it will have better long term value than fiat.  This was after some years of savings accounts earning pennies per thousand dollars per year.  So, I'd say it was presented as an investment.

Marketing lies, guy. That's all it is, one lie after another. 'digital gold' is another good one lmao. Litecoin too is 'digital silver' lmao. The bitscam pyramid is one for the history books.

Marketing by who? I have never sold a bitcoin and could care less about what other people do. Bitcoin is my money and I use it almost daily now. Suit yourself, but it has been the best financial decision of the decade for me.

[ThatDGuy]

Bitcoin isn't an investment, it's insurance.

insurance? are you kidding me?? what you mean with insurance???

http://www.usdebtclock.org/

That's what he means. We will see hyperinflation, or default, or a massive war within our lifetimes. Bitcoin is independent of any of the fiat economies. It's digital gold.

LMFAO! Is that why it is getting hammered along with gold??? BTC is looking like a 0.0001 penny stock that keeps going to .0002 & back down again & again... it's sad, please don't compare it to gold, anything but a real asset that has almost always held value on this earth. Get that pump n dump propaganda the fuck out of here, we are in the dump phase

BTC shares quite a few qualities with gold, regardless of whether or not you choose to accept those factual similarities.  It also has advantages that differentiate it sufficiently to carve out its own place.

[soy]

I can't find mention of it on Wikipedia but in the not too distant past I think the Polish zloty banknotes were printed in Great Britain but Poland couldn't pay for the printing because the mint required payment in a hard currency.  I think it's something of the same idea when the manufacturers of Bitcoin mining equipment dump Bitcoins for immediate hard cash.

[NotLambchop]

Bitcoin was never meant as a investment and it is risky to do so.

The early hype was that since the number of Bitcoins that can exist won't change it will have better long term value than fiat.  This was after some years of savings accounts earning pennies per thousand dollars per year.  So, I'd say it was presented as an investment.

Marketing lies, guy. That's all it is, one lie after another. 'digital gold' is another good one lmao. Litecoin too is 'digital silver' lmao. The bitscam pyramid is one for the history books.

Marketing by who? ...

Every permabull chanting "BUY HODL EVERYTHING'S FINE"?

[RodeoX]

Bitcoin is independent of any of the fiat economies.

Oh, really?

Yet Bitcoin's value is measured in USD ... And merchants "accepting" bitcoin, actually doesn't accept Bitcoin at all, but USD through Bitpay and Coinbase ... Doesn't sound very independent to me.

If all the fiat economies of the world were to come crumbling down at the same time, would poor peasants in Africa and Asia all suddenly come flocking to Bitcoin? Or would they perhaps focus on getting food in their stomachs instead?

People in every country except America are saying "WTF are you talking about?" Dollars have no connection to bitcoin unless you have access to dollars, and most of the world does not.

The Bitcoin hype started dying as soon as Gox went out of business and took Markus and Willy with it. Every BTC bubble was fueled by Gox manipulation schemes. Now the world is seeing bitcoin for what it really is: A couple of thousand deluded cultist hoarders, and another couple of thousand junkies and pervs looking for drugs and child porn on the deep web.

Bitcoin has at least tripled in size since there was an Mt.Gox. Just in the last few days the second largest company in the world started using them. Huge players are arriving all the time. Now I can buy new cars, real estate, any kind of consumer item. You say there are a couple of thousand of us? BitPay (just one of many payment processors) has over 30K businesses that accept it. Coinbase has 37K.  Hell I've met thousands of bitcoin people myself at conferences and such. Wherever I travel around the world I spend my bitcoin and meet people who have embraced it. It is a world wide phenomena and growing exponentially.

[RodeoX]

give up, microsoft does not accept bitcoin, they accept USD from BIYPAY
yes, bitcoin is still not $0 today buy it's going to be there lower and lower as the passed history already showed us

I don't understand this argument. They take my bitcoin. I don't care what they do with them after I send them. In fact if they did not turn them back into fiat I would think they are making a mistake and abdicating their fiduciary responsibility.
I do not care about the price. I look at adoption. I use my bitcoin money and so I want places to spend them. These are stellar times! I can buy anything for bitcoin now, including microsoft products.

[Arv1e]

I do find most of the comments quite funny seriously lacking depth of thought.

Bitcoin is currently a speculative investment!

I invest in BTC because of the underlying technology and because it is a serious disrupter to traditional banking and transfer of wealth.

Assuming I am correct then BTC will increase in value over time and it has done rather well so far.

The $1000 bubble is normal and so is the market correction back to 300/400. If you look at the growth, from inception to today's spot value its impressive.

The value will go up when people see it as an "INVESTMENT" and they buy BTC with Fiat. Day to day some people are buying BTC to spend but this is currently a drop in the Ocean.

Let me share with you a little bit of reality to compare where BTC is today.

Apple started out in the 70's and is about 40 years old.

In that time they have grown from a silly little nerdy company (compared with Microsoft during the 80's) to a Company worth $630 BILLION

BTC is currently worth $5billion which is less than the amount of $100 dollar shares traded in Apple each day.

Bitcoin is in its infancy and subject to reacting violently to any market action but I will tell you VERY SIMPLY why BTC price will not keep dropping.

1 More and more people recognise the technology is sound and thus an excellent alternative to traditional currency

2 As the price drops it will become more and more attractive to investors and their very action to purchase will push the price back up.

Personally I would love to see it drop to around $250/$275 because the amount of money which could flood in could be enough for a lot of Russians and Chinese to transfer wealth from dollar too.. and that means BIG FAST RISE to $500.

Then next year the same bollox will be spouted in these forums again.. Then it will move up to $1000 and the next generation of people arriving at the forum will start spouting the same rubbish from the $1000 perspective when it drops to $800.

So remember guys.. BTC is in its infancy if it suddenly opens its mouth, saying  "Daddy" or just randomly farts the whole family will bang on about it for days!

As time moves forward Bitcoin will be exposed to growing pains until it matures OR fails.. I believe it is way past failure unless something happens in the underlying technology for everyone to lose faith.

It doesnt take much to lose faith.. In less than 2 years Russians have lost faith in their currency!

[Stargazer]

I like bitcoin and it's a good long term investment it's just not doing well at the moment. Internet became big and now it's time for the internet money
We will surely see bitcoin trade for $500+ again, but it may take months or even years.

[atlantic miner]

buy and hold Bitcoin is better for really long term investing

[MF Doom]

I like bitcoin and it's a good long term investment it's just not doing well at the moment. Internet became big and now it's time for the internet money
We will surely see bitcoin trade for $500+ again, but it may take months or even years.

It just as easily could go to $10 really.  Once it reaches "mass adoption" it could stabilize there.

[smalltimer]

Satoshi intended it as a store of value and you could speculate on any store of value like gold or dollars. I thought he created it as a store of value for when banks go bankrupt.

only problem: it is no store of value  with that inflation.
So all you say does make no sense at all.


Stop comparing btc to gold. You look like idiots doing so.

[Arv1e]

Satoshi intended it as a store of value and you could speculate on any store of value like gold or dollars. I thought he created it as a store of value for when banks go bankrupt.

only problem: it is no store of value  with that inflation.
So all you say does make no sense at all.


Stop comparing btc to gold. You look like idiots doing so.

Please explain this comment.

Gold is a finite resource Bitcoin is a finite resource (21M)

Gold is mined releasing more gold flowing into the market at a known rate. Bitcoin is the same

Golds value is arbituary and created purely by market forces. Bitcoin is the same.

If TOMORROW the whole world stopped buying Gold its value would be zero.

The only fundamental difference is gold is physical whereas BTC is digital but totally accountable.

SO, EXACTLY why is comparing BTC to goldf idiotic??

[NotLambchop]

...
Please explain this comment.

Gold is a finite resource Bitcoin is BTCeanie BTCabies are a finite resource (21M)

Gold is mined releasing more gold flowing into the market at a known rate. Bitcoin is the same BTCeanie BTCabies supply is no longer inflating by 10-15% a year.

Golds value is arbituary and created purely by market forces. Bitcoin is BTCeanie BTCabies are the same.

If TOMORROW the whole world stopped buying Gold its value would be zero.

The only fundamental difference is gold is physical whereas BTC is digital but totally accountable. BTCeanie BTCabies are also physical.  So totally same, no fundamental difference.

SO, EXACTLY why is comparing Bitcoin BTCeanie BTCabies to goldf idiotic??

FTFY

[smalltimer]

Satoshi intended it as a store of value and you could speculate on any store of value like gold or dollars. I thought he created it as a store of value for when banks go bankrupt.

only problem: it is no store of value  with that inflation.
So all you say does make no sense at all.


Stop comparing btc to gold. You look like idiots doing so.

Please explain this comment.

Gold is a finite resource Bitcoin is a finite resource (21M)

Gold is mined releasing more gold flowing into the market at a known rate. Bitcoin is the same

Golds value is arbituary and created purely by market forces. Bitcoin is the same.

If TOMORROW the whole world stopped buying Gold its value would be zero.

The only fundamental difference is gold is physical whereas BTC is digital but totally accountable.

SO, EXACTLY why is comparing BTC to goldf idiotic??

nope. A lot of BS in that comment too.
Gold is not finite by any means. It's just relatively scarce.
Bitcoin is the exact opposite: it's finite but not scarce.

"Gold is mined releasing more gold flowing into the market at a known rate. Bitcoin is the same"
what differes is the inflationrate. Gold: unknown - probably around 1% every year. Bitcoin: 10% , USD: 5%

So there is two or more false statements in two sentences.

Bitcoin has performed worse than the russian ruble this year. Would you compare the russian ruble to gold? Why not?

"Golds value is arbituary and created purely by market forces. Bitcoin is the same."
there are practical usecases for both apart from pure speculation.
Every good that's traded on the free market has a price determined by supply and demand. Nothing special about it.

So much shit in one comment is hard to wrap the head around.
Do you actually believe what you are writing there?

Pretty much all of that comment was pure BS and even false claims. Please stop commenting.

[ThatDGuy]

nope. A lot of BS in that comment too.
Gold is not finite by any means. It's just relatively scarce.
Bitcoin is the exact opposite: it's finite but not scarce.

...

It's odd that you call someone else out on "BS" when you don't even appear to have a firm grim on the meaning of economic scarcity yourself.

The limited quantities of gold were never able to keep up with demand.  That's why it's scarce.

Finite things are not endlessly abundant.  That is what creates scarcity.

You said yourself that Bitcoin is finite.  Demand for it is what means that it is, in fact, scarce. 

[jaredboice]

I have smalltimer on ignore.  But since you quoted him, I can humorously say exactly why he's on the ignore list.

With trolling like this: "____ is not finite by any means. It's just relatively scarce." 

What else is there to be said?? 

[ChuckBuck]

Bitcoin isn't an investment vehicle, period.

It's a payment technology, protocol, and most of all cryptocurrency.

If you're in it to make a quick buck, you're doing it wrong.

[Ibian]

Bitcoin isn't an investment vehicle, period.

Stove it. It is whatever people treat it as.

Said it before but apparently there are always new people who can't think for themselves. Bitcoin requires people who will invest in it, and that requires the possibility of making a buck. It's a speculators game all the way to the top. Only then will it become a proper currency.