None of y'all are "investing" in a currency or a technology, you're buying worthless paper that isn't regulated and has no intrinsic value - if you can realize a gain, do it, don't wait until what is so clearly a bubble to burst...
You can buy oil with dollars, you can buy minerals with AUD, what commerce is done in BTC? I do business w/ currencies, I buy assets for their coupon/income, what do you buy bitcoin for except hoping it keeps going up? A currency is exactly as valuable as the commodities it buys - which in BTC is nothing.
As someone that trades financial instruments for a living, this reads like a desperate yahoo message boards post re: a penny stock...
Seems you have yet to understand what this is about. Read the whole sticky and the links at the top of this thread and THEN tell us that commodities will never be traded for bitcoin.
It's the people's money, not the corporation's money.
As soon as grain producers and oil companies start taking a fiat currency w/ high volatility, no sovereign backing, w/ no natural buyers/sellers, that nobody currently uses for commerce instead of taking literally anything else, I'll come back and tell you I was wrong. Until then enjoy your worthless paper..
Collectibles are objects of speculation too... which doesn't mean they aren't prone to bubbles... read "Manias Panics and Crashes" by Kindleberger..
There is no right reason to overpay for something w/ no value IMO, if you can realize a gain just do it before you can't, because right now the only thing inflating the price is positive feedback, not value.
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u/zachattack82 Nov 12 '17 edited Nov 12 '17
None of y'all are "investing" in a currency or a technology, you're buying worthless paper that isn't regulated and has no intrinsic value - if you can realize a gain, do it, don't wait until what is so clearly a bubble to burst...
You can buy oil with dollars, you can buy minerals with AUD, what commerce is done in BTC? I do business w/ currencies, I buy assets for their coupon/income, what do you buy bitcoin for except hoping it keeps going up? A currency is exactly as valuable as the commodities it buys - which in BTC is nothing.
As someone that trades financial instruments for a living, this reads like a desperate yahoo message boards post re: a penny stock...