Yea agree. When it went to 7K I thought I’d missed the boat so left it. I won’t be taking the 40k either but lots of traction on many platforms and more mainstream activity. Will be interesting see where next 2-10 years takes the whole crypto scene.I have a Ledger wallet - it's an actual piece of hardware, so you don't have to worry about something happening to your coins if something happens to the site where they're being stored.
TBH, now seems like a terrible time to be investing in BTC. The pirce seems enormously inflated and unsustainable, which is why I'm probably giong to cash out. Of course, I could be completely wrong - I thought $10,000 was unsustainable - but a lot of the current inflation seems to stem from a couple of tweets by Mr Musk.
Tesla is as overvalued as Bitcoin . As someone reminded me the other day, if you own some Tesla stock, you own some Bitcoin anyway. In that case I'm in the crypto-world by default despite my current scepticism concerning whether it is a fit game for an individual investor. I don't own any Tesla stock directly, but several of the technology funds I own do.For those thinking of investing in Bitcoin right now....do be aware that Tesla recently revealed they'd purchased a collosal amount of Bitcoin to store some of the cash reserves. This appears to be the biggest component driving the upward price pressure. Make of that what you will.
If it's the former, it would be worth more than £3000, so yes, probably worth it.
Bitcoin’s primary usage [at this time] is for transferring money relatively anonymously. As soon as a sum goes through two or three transfers it becomes basically impossible to trace. That application means it has a value to a certain group of people. As soon as that can be policed, sure, the value will likely drop, but the very point of many crypto currencies is a self regulation component that cannot be altered by outside forces. This is how the concept of Bitcoin came to exist and why statements about it no longer existing demonstrate a fundamental misunderstanding about its purpose or function.
The problem is that it felt peaky two years ago, too. And as a result I didn't buy some then....In more general terms, the history thus far has been rapid rises followed by rapid falls. Personally I wouldn't be investing at the moment, it feels very peaky to me, but if there were another large crash down to the $4000 dollar level of a year ago I might be tempted to put a bit in and try to forget it for a while.
So...in view of the huge carbon footprint involved in Bitcoin "manufacture", should I forget about Teslas and buy another diesel BMW? Oh, the irony.....lots of paper millionaires. Be interesting to see Elon’s reaction this morning when he arises whether to average. Tesla now a double edged sword/ Bitcoin proxy. Diamond hands indeed.
Out of curiosity, I would like to know how you get on with selling them. Having read through the thread, like myself, there are those sceptics who would rather invest in something a bit more tangible and the sense of risk seems greater with something which appears to have no real asset. I agree though, crypto currencies are likely to be around for a very long timeSlightly random question. I jumped on the bitcoin bandwagon some time ago and bought a tiny quantity that is now worth a not-insignificant amount. I may come to regret this in the future, but I'm thinking of selling most of my stash while the price is crazy high. Does anyone have any experience of selling bitcoins and any advice on doing so?
Out of curiosity, I would like to know how you get on with selling them. Having read through the thread, like myself, there are those sceptics who would rather invest in something a bit more tangible and the sense of risk seems greater with something which appears to have no real asset. I agree though, crypto currencies are likely to be around for a very long time
Blockchain may be very fashionable at present but being so inefficient and expensive to both mine and trade, it fails the first test of a viable currency...it doesn't work for high frequency transactions or low values. And it seems that you have to share its use with some pretty iffy people. This is not to say that current banking systems of batch processing and set off won't be modernised to create true digital currencies at some point but I can't see how blockchain can get us there, ,and getting involved in all that arcane rigmarole seems very tedious to me, aren't horses more fun?In the period between sending my BTC to Coinbase and it actually arriving, I effectively lost several hundred pounds. Had I waited about an hour, I could have made that back, plus a few hundred more....