Bitcoin as an investment?

[biosurfer1]

DOW dropped more than 1000 yesterday, more than 1500 at one point, better steer clear of that too.

[KFC911]

When the markets go from 20 > 6 in two months....I'd be where I was 10 years ago....BROKE . I'm just messin' with you...'cause I can.

[biosurfer1]

👍😀

[sc_rufctr]

There is nothing better than money in the bank! (Assuming the bank wont go bust)

[Sooner or later]

Originally Posted by biosurfer1

DOW dropped more than 1000 yesterday, more than 1500 at one point, better steer clear of that too.

Comparing the Dow to bitcoins? Really?

[biosurfer1]

Originally Posted by Sooner or later

Comparing the Dow to bitcoins? Really?

For 99.999% of people? Yep. They don't know any more about the companies they invest in than people who are investing in Bitcoin do about crypto currency. It's all a gamble, they all have bull runs and bear runs.

[Holger]

And I bet the crypto fallout was also causing this market correction. People got scared.

[Porsche-O-Phile]

With cryptocurrency and the stock market, some people are getting jittery because they're afraid it won't last (echoes of 2008-09).

They're right.

[Sooner or later]

Originally Posted by Porsche-O-Phile

With cryptocurrency and the stock market, some people are getting jittery because they're afraid it won't last (echoes of 2008-09).

They're right.

If they are Nervous Nellies and selling then they misjudged their risk tolerance.

[aigel]

For bitcoin to function as a currency, it needs to be reasonably stable. If I sell an item today for 1 bitcoin and next week it costs me 2 bitcoin to replace it, that's not a good currency to use.

What is people's theory here, will it find an equilibrium eventually and that's when people will actually use it to pay for stuff (rather than buying it with fiat and hoping to sell it again down the road for more fiat?)

G

[biosurfer1]

Originally Posted by aigel

For bitcoin to function as a currency, it needs to be reasonably stable. If I sell an item today for 1 bitcoin and next week it costs me 2 bitcoin to replace it, that's not a good currency to use.

What is people's theory here, will it find an equilibrium eventually and that's when people will actually use it to pay for stuff (rather than buying it with fiat and hoping to sell it again down the road for more fiat?)

G

Bitcoin will never be a currency, it's simply a store of value vs. other coins. Just like you wouldn't daily drive a 1925 Dusenburg for many reasons, but it doesn't mean it's worthless. Seems like.more and more Bitcoin is acting like gold, but as a currency, it's a dinosaur compared to other options like ethereum, ripple, etc.

[sc_rufctr]

Nobody understands it and yet it's already a dinosaur?

[KFC911]

Originally Posted by sc_rufctr

Nobody understands it and yet it's already a dinosaur?

Well...compared to options like ethereum and ripple it is

[biosurfer1]

Originally Posted by sc_rufctr

Nobody understands it and yet it's already a dinosaur?

Lol, because YOU don't understand something means nobody does?

[GWN7]

I read that there were 1785 different E-coin types now. But that was last week so there are probably more now. It seems anyone can create one and sell it to other people. How would you determine which one has any value.

[Holger]

Most cryptocurrencies will have zero value soon, Ripple, Ethereum and others among them.

[manbridge 74]

Bitcoin bloodbath rivaling the dot com bubble bath!

Holger calling it five months back.

Who got out with the gold lined crib or new GT3RS? Post pics....

[cstreit]

Ha. THe news agency's decided to have a look a the price this week and decided it was a "bloodbath". I'll grant you anyone expecting it to hit $100k is porobably crying, but when you look at the trend over the last several months and years , its doing quote well.

Don't buy in a bubble still holds true. Anyone that did that can't really be helped.

[sammyg2]

Down about 75%

[Alan A]

And may go lower. Just remember though that last October before the (last) bubble it was $3600.