Not a fan of crypto…but

J

Jones75

I'm a holder of Barrick Gold, which I use as a hedge against a financial disaster. However I've seen "bitcoin" go crazy, yet it has no intrinsic value which causes me great hesitation to get involved. Being a bit old school and reading about the "tulip" craze in the 1600's just adds to the crypto uncertainty. Fed Powell came out with the statement yesterday, saying that "bitcoin is replacing gold" and that's what got my attention.

So I'm looking at a HIVE Blockchain Tech up in Canada. It has a 52 week range of .17 to 7.25, and today's price, 4.20. It las reported ER .086 per. It mines Ethereum and Bitcoin. People like Peter Schiff are solid in their economic assessments with gold and crypto, but the markets are in complete disagreement. Does anyone have an opinion on HIVE that likes to take the conservative side.
 
Jones75 said:
I'm a holder of Barrick Gold, which I use as a hedge against a financial disaster. However I've seen "bitcoin" go crazy, yet it has no intrinsic value which causes me great hesitation to get involved. Being a bit old school and reading about the "tulip" craze in the 1600's just adds to the crypto uncertainty. Fed Powell came out with the statement yesterday, saying that "bitcoin is replacing gold" and that's what got my attention.

So I'm looking at a HIVE Blockchain Tech up in Canada. It has a 52 week range of .17 to 7.25, and today's price, 4.20. It las reported ER .086 per. It mines Ethereum and Bitcoin. People like Peter Schiff are solid in their economic assessments with gold and crypto, but the markets are in complete disagreement. Does anyone have an opinion on HIVE that likes to take the conservative side.
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Sounds like Warren Buffet got it more right;
bitcoin[bitcon] is ''rat poison''...........................................
 
Or run down. BTC 6X up (at peak) since 20Q4. HIVE 18X up (at peak).

Sentiment in BTC seems a tad overdone for a half year run, so both have room to breathe out a good bit. HIVE moreso.

Still waiting to exhale for some kind of committed crypto relationship here.
 
I'm not a big fan, either, but I'm going to take a position on BTC if we drop and HODL it for a long time.

Why?

Lots of institutional interest lately and continued retail interest (just in little Norway as many as 6 % own crypto in some form). Limited supply. I don't really buy into the utility of BTC other than possibly as some new alternative store of value. Finally, a lot of people actually believe in this.

I will consider my investment lost, but with the possibillity of a nice pay-off some time in the distant future.

Question is if we really can see a crash from here or just a pullback. I haven't followed BTC that closely, but it seems to correlate surprisingly well with the stock market lately.
 
If you want bitcoin exposure, why not buy GBTC which currently trades at a 10% discount to Bitcoin? Seems that one could made some money doing what Peter Schiff suggests -- buy GBTC, short bitcoin futures.

 
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