Bitcoin 60,548.80

[BuffJim]

Shoulda bought a couple months ago at 30,000. 

[Kzoo]

And have to deal with all those taxes......... pfffft.

 

[BuffJim]

My brother bought a BMW with his gains. Not sure if he still has any invested. My gut feel is that it will eventually crash, and many will be left holding the bag. 

[MickinMD ★]

Bitcoin is a risky bet since, eventually, all governments are likely to outlaw it since it's based on nothing physical of real worth and to set up their own crypto systems.  But that may take a decade or more and very big profits are a possibility before that happens.

I'm at the point where I'm very comfortable financially, not rich but have more retirement income coming in than I spend, so preservation of capital is the main thing for me.  So I don't get into risky investments any more and my conservative, "safe," value stocks have averaged a 14% annual return for the last decade.  Good enough for me!

[shootingstar]

I've been bolder for real different product...that's far less mysterious.

However I'm not interested.  It just makes me cringe that university computer science grads are on the edges, creating their own thing and doing data mining (as per colleague's daughter's friend also in computer science).  https://www.millennial-revolution.com/invest/how-to-get-free-bitcoin/  Just a Vancouverite, FIRE whose savvy managing with her hubby other investment assets. 

As technology in this area changes, not sure I will have sustained interest several yrs. from now, to stay on top on news/developments/regulatory matters and worry about stock earnings for this type of shadowy/ghost baby. 

[Razors Edge ★]

15 minutes ago, shootingstar said:

I've been bolder for real different product...that's far less mysterious.

However I'm not interested.  It just makes me cringe that university computer science grads are on the edges, creating their own thing and doing data mining (as per colleague's daughter's friend also in computer science).  https://www.millennial-revolution.com/invest/how-to-get-free-bitcoin/  Just a Vancouverite, FIRE whose savvy managing with her hubby other investment assets. 

As technology in this area changes, not sure I will have sustained interest several yrs. from now, to stay on top on news/developments/regulatory matters and worry about stock earnings for this type of shadowy/ghost baby. 

But, darn SS, had you been bullish rather than a bear back in 2018, you'd be quite a happy camper today!

Bitcoin "plummeted" all the way to $7,700 on March 16th, 2018:

...but, now it looks like a dream buy!

[Randomguy]

3 hours ago, BuffJim said:

My gut feel is that it will eventually crash, and many will be left holding the bag. 

This.  At least I think so.

[Razors Edge ★]

2 minutes ago, Randomguy said:

This.  At least I think so.

The question is more whether gov'ts rush in to regulate and it kills the "value" or stabilizes it.  Depending upon the holdings of the big institutions, the gov'ts may be wary of doing anything that really screws it up.  Back when it was smaller was when it should have been squashed. Now???  Genie is out of the bottle.

[Randomguy]

23 minutes ago, Razors Edge said:

The question is more whether gov'ts rush in to regulate and it kills the "value" or stabilizes it.  Depending upon the holdings of the big institutions, the gov'ts may be wary of doing anything that really screws it up.  Back when it was smaller was when it should have been squashed. Now???  Genie is out of the bottle.

Plus, some folks in government have some bitcoin, too, so they will work from the inside to keep it going.

60K seems a lot for "one" coin, shouldn't there be a mechanism to split it into more graspable amounts?  

[12string]

44 minutes ago, Razors Edge said:

The question is more whether gov'ts rush in to regulate and it kills the "value" or stabilizes it.  Depending upon the holdings of the big institutions, the gov'ts may be wary of doing anything that really screws it up.  Back when it was smaller was when it should have been squashed. Now???  Genie is out of the bottle.

I don't think a lot of institutions are holding bitcoin.  Trading it maybe, but not holding.  It will crash someday, it's total smoke and mirrors.

I just read an article about all of the open jobs not filling as government subsidies stop, COVID retreats, etc.  One of the theories is that some people may be getting their earnings from btcoin, shich flies under the financial evaluation radar.

Another theory was that a lot of 2 income families realized they didn't need 2 incomes.  That one makes a ton of sense.  Plenty of these families living pretty high on the hog, feeling like they "needed" 2 incomes to pay the bills.  COVID changed a lot of thinking and priorities.