Bitcoin

Christheendlesslearner said:
I’m struggling to understand what is driving the price of Bitcoin up besides the high demand. I was thinking it was going up because people might be getting worried about dollar depreciation but it seems like everyone just wants it because big investors and others are talking about it. Should I stay away because it could be reaching its apex and has no physical backing or should I consider trading it? Thanks
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The moral hazard of the fractional reserve system, and the corrupt nature of people to spill blood for gold. To simply put it Bitcoin is going to be the bread basket of the world. Where people won't have the fear of affording tomorrows bread prices...
 
CRYPTOCURRENCY
Crypto investors ‘should be prepared to lose all their money,’ top UK regulator warns
PUBLISHED MON, JAN 11 20215:44 AM EST UPDATED MON, JAN 11 20215:44 AM EST

Ryan Browne@RYAN_BROWNE_
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KEY POINTS
  • People investing in cryptocurrencies risk losing all their money, according to the U.K.’s Financial Conduct Authority.
  • The regulator’s warning comes amid wild volatility in the cryptocurrency market.
  • Bitcoin and other virtual currencies plunged on Monday, wiping off $170 billion from the entire crypto market.
 
I have long positions in bitcoin and ethereum but this is a valid concern for its long term viability. bitcoin is not government-friendly so the idea that governments will get on board is very misguided in my view. Further, the banks are getting cut out of a lot of this so they would rather create their own crypto than back bitcoin so risks do exist in this space.


padutrader said:
it has no fundamental reason......to exist.

so no reason to buy and hold

never go against governments....they always win and once they feel threatened they will kill it
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