Bitcoin. Read this.

airbearr · 2021-03-02T12:01:34+00:00

Beware of hindsight bias and chasing winners. Remember that almost all speculators underperform the market. Especially over the long term. Only speculate with what you can afford to lose and be prepared for the opportunity cost of not buying the market itself.

Zeeblackbaron · 2021-03-02T14:42:30+00:00

Bitcoin’s price operates on a specific cycle related to its halvings. It’s actually possible to sort of time the market (regardless of how much people like to refute this) if you have done enough research and have enough understanding of patterns present in the previous price cycles. The price pattern I follow is the Golden Bull ratio cycle only because I’ve verified it myself

The thing with Bitcoin is that it’s too late to buy into it and expect monster gains. It already has about $1T in capital pumped into it and considering that there is only about $90T in liquid money in the world, the price will grow much more slowly than it did in the past. I would look into altcoins. The majority of people are so focused on Bitcoin that fewer people are paying attention to the altcoins. These coins have much lower market caps than Bitcoin, are dirt cheap in comparison, and will rocket in value once Bitcoin’s mania phase hits later this year. This is what’s happened in the past and I wouldn’t expect a different result this time around. People and their emotions regarding Bitcoin are cyclical and exploitable

arakouzo · 2021-03-02T15:33:45+00:00

Bitcoin is not the future of money, it's not "digital gold", and it's not even that technologically interesting.

It's an investment like any other. Being cryptocurrency, it's a highly speculative and volatile investment.

This isn't a bad thing. Bitcoin doesn't have to be some kind of future world-changing currency that redefines the universe to be useful. It's in the news now. It's all over. Big investors and institutions are buying it and talking about it.

So in addition to maxing your 401k matching and buying some domestic stocks, foreign stocks, and maybe some land or physical gold or silver, put a little bit each month into cryptocurrency. A lot of big dogs are predicting the bitcoin value is going to go way up. Not immediately, and not without a bunch of crashes in value between now and then, but one day, people say there will be a six-digit bitcoin price, so might as well have a little money in there in case that happens.

I just wouldn't go all-in on any kind of cryptocurrency - definitely diversify, and I wouldn't get suckered into the crazy-eyed techno-babble about the future of currency or any of that bullshit.

Efficient-Pair9055 · 2021-03-02T12:54:53+00:00

Bitcoin is the definition of traceable. Every transaction is available for everyone. If you want untraceable use Monero.

kuryu4 · 2021-03-02T11:45:41+00:00

Bitcoin untraceable lol, it has a public ledger. Bitcoin undergoes massive price adjustments and unless your willing to lose more than 50% of the value within a few months and hold for a few years to see gains, do not invest. You need technical knowledge about price tendencies to trade it effectively or else you’ll get stuck bagholding like 2017.

kalashnick · 2021-03-02T18:08:28+00:00

Bill Gates is buying up farm land and we're buying bitcoin... hmmm...

MattyAnon · 2021-03-09T16:07:44+00:00

Title: Bitcoin. Read this.

Content: Nil.

JpowYellen3some · 2021-03-02T12:29:58+00:00

How will you trade bitcoin if the electric grid goes down? Or if the government restricts internet access?

DareyFathom · 2021-03-02T14:45:44+00:00

I first owned bitcoin somewhere around 2013. But I sold it and never paid much attention to it since.

I bought some back then at around $50/btc, forgot about it for about five years then sold it in 2018 around $5k/btc. Dumb move on my part as I'd have a very pretty profit right now if I'd held.

darthvader3232 · 2021-03-02T13:49:38+00:00

Good read. Do you any other sources of information to follow to read up on more advanced and informed takes on crypto?

KingOfAllWomen · 2021-03-03T19:50:46+00:00

The fed is going to make their own crypto and that will be the end of shitcoin.

Bitcoin is just as fiat as the paper money we use now. "Some computer one time did the processor work to solve this amount of coin" doesn't mean much. Likewise, the gov is never going to buy into something where they don't start with all of it and regulate it.

Silly-French · 2021-03-02T12:33:21+00:00

Problem with cryptocurrencies is the State doesn’t control it. And States don’t like to not control the money. I hope there won’t be a massive shutdown in the future

Art___Vandelay___ · 2021-03-02T14:23:37+00:00

The entire cryptocurrency market is propped up by tether (USDT).

AvailableRow1791 · 2021-03-02T19:02:18+00:00

Financial sector worker here - taxes from most wallets are high, we have BTC coverage and it's not cheaper then bank to deposit with crypto, nor it's cheaper to receive - it's not tax heaven, also it's traceable to a wallet very easy. Overhyped thing same as TSLA.

If you want long term stability for your finances gold is the answer as it will be always viable and will provide value to value, even if all other PMs fail. And with FED and ECB and China banks going either virtual or continuing with the brrr policy it's bound for precious metals to be an anchor for future virtual currencies that will take away cash. And it's not crypto as governments can't trace it good enough and can't delete with ease the wallet of ppl they don't like.

If you want high returns and want to join the rollercoaster WSB gives enough value for short-term. If you want long term value go at neuro stock (CRSP,Beam,NTLA,FATE), TSM, weed etc. companies (Tyson became multimillioneer with one again) as Mind Med, Compass pathways and etc.

If you want to beat inflation and secure your wealth (in case you accumulated) ETFs are good option or making your own portfolio with dividend stock of the like of Apple, Activision, Mcdonalds, Microsoft, IBM etc.

BeeRaddBroodler · 2021-03-14T00:25:01+00:00

First time I heard about Bitcoin was in that movie “dope”

sharpefutures · 2021-03-02T14:52:04+00:00

Pretty dumb post. The current monetary system is superior in 99.99% of ways to bitcoin.

Title	Bitcoin. Read this.
Author	ChrimsonChin988
Upvotes	1
Comments	41
Date	March 2, 2021 11:28 AM UTC (5 years ago)
Subreddit	Posted in /r/TheRedPill
Original Link	https://old.reddit.com/r/TheRedPill/comments/lvzwob/bitcoin_read_this/
Archive Link	https://theredarchive.com/r/TheRedPill/bitcoin-read-this.786576 https://theredarchive.com/post/786576

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