Bitcoin / Bitcoins / Crypto Currency

I'm not sure what your point is!

It's a fact that it is valued above it's NAV.
There must be a reason why.
I've set out the reasons I've come across.
If you don't believe those reasons, you must believe there is a different reason. Or that the market has been irrational for an extended period and that it will stop being irrational soon!

Sorry - just trying to understand and latched on to you saying you agreed with one reason (as your logic didn't make sense to me).

I'm still searching for the reason as none of those quoted seem to make sense. So at the moment it does seem irrational, but I could change that view if a logical explanation was provided

Keynes said something like 'markets can stay irrational longer than you can stay solvent!'

A hedge fund shorted MSTR heavily back in March when it was at about 80, on the basis that they couldn't see a justification for the nav premium. They made good money for a few days, but their trade must be so far under water now that it will have drowned.

Yes at least I'm not alone in that view...

Who knows. Don't know why I'm so bothered either, I'm not invested in it!

Dagestan trying to ban cryptocurrency mining because their system is overloaded by demand, other Russian republics/regions lining up.

Being late to the party makes me no expert but I can definitely see a future in holding crypto to escape the trap of governments that print money that will support hyper inflation. I've decided to invest my money into Decentralized autonomous platforms that will make more money than buying government bonds that will only dilute the yields by increasing money supply... Anyone reading this will probably have already figured that out. Let's watch as the masses start to borrow money against their assets and get sucked back into an archaic system of debt consolidation. Interest rates will fall to suck them in and money will be injected which devaluates the asset of which they borrowed against. While everyone is piling in to buy crypto, my plan is to invest into the infrastructure for the "New" world of finance.

Nope.

You only get the money if you sell. The only reason I have "valuable" bitcoins is because I didn't sell the last 3 times it reached new highs. I'll probably die never having sold any.

I bought mine when they were around £400 each so still no early retirement yet.

I had the plan that I would pay off my mortgage with bitcoin. It has the beauty that at some point the two values will intersect, although it may be when I have a week left on my mortgage.

let me know when you sell, i'll start being nice to you

I need to buy some bitcoin to buy something with. What’s the most straightforward way to do so please?

Simplest and cheapest would be to find someone to sell you some directly. Failing that if you are in the UK Bittylicious was very straightforward when I last used them (years ago now mind) or if you have a Revolut account you can buy bitcoin through the app, though the fees are high for small amounts.

Thank you!

I need to buy some bitcoin to buy something with.

You don't say what you are buying but just remember that bitcoin is traceable if bought through a KYC exchange.

bitcoin is traceable

Unless you go to serious lengths to keep your purchase anonymous, BTC is traceable. There are specialised companies and government units dedicated to tracing coins and identifying their owners, and they can access all sorts of breadcrumvs that most of us don’t even know we’re dropping.

Has anyone mentioned that Bitcoin/BTC is traceable?

If you're referring to the fact that every transaction ever is visible on the blockchain, I expect that a fair number of people here are aware of it and it may have come up. That's not quite the same as traceable, though, since as long as you're personally managing your wallet/wallets, it's still anonymous; your wallets are anonymous, you can have as many as you want and each can be managing multiple addresses, so the fact that the transactions are visible doesn't make all your activity traceable even if somebody finds out one of your addresses.. That's one reason asymmetric key cryptography is a core part of the system. If you're only using exchanges, on the other hand, enough legal bother could expose you entirely. But that's probably the last of your problems, in that case.

Or did you mean something else?

Doh, you were just making a joke about the earlier conversation. This has not been my best morning. But @jackc might want to hear it.

Despite all the regulation there are still people out there that think it will be banned therefore making it illegal giving the government authority to freeze bank accounts leading to wallets holding crypto... At least in Canada the past truckers rally during COVID times. No longer worried though because Justin Trudeau is on his way out the next election...

The only safe use for BTC is as an investment. The widespread belief among cryptobros that it can somehow free economies from government/corporate control is absolutely delusional. Every interraction between your BTC assets and the real world connects them to things you have no control over and somebody else does.

I've also worked on the basis (although no idea if it is the case) that there's always a reasonable chance of a technical flaw being found in Bitcoin and it becoming worthless overnight.

I view my "investment" in it as a bonus, not something I'd rely on.

I think with any investment, there is a risk to lose it maybe but a lot of folk dont think about it like that sadly

https://youtu.be/qzytJxzEh84?si=kdBJsbjLqoYAa33x

Michael Saylor setting eyes on Microsoft board of directors... Who will be next in line? Google, Facebook, Netflix, Apple

So close to breaking $100k

Heard Saylor suggesting he believes Trump will set up a US strategic bitcoin reserve looking to accumulate 5-20% of total supply