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  1. #1

    What is happening with Bitcoin?

    Anyone follow this? It was supposedly at like 19000 last year, now its at 3700.

    I've still never invested in it, but I keep my eye on it.

  2. #2

    Re: What is happening with Bitcoin?

    It's been on a rollercoaster ride... that is on a downward slope now. I've always called cryptocurrency the trust in the value of the price of hot air. Right now, there's not a whole lot of trust, so the price tanks. It'll stabilize and slowly rise again eventually, but that bubble has popped.
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  3. #3
    Senior Member Aintdealingwithyoshit's Avatar
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    Re: What is happening with Bitcoin?

    I don't follow Bitcoin because I don't trust Bitcoin. Neither do I trust fiat currency. The only currency I truly trust is precious metals, especially silver.
    There's a significant danger that globalist elites will push for abandoning hard cash in favor of a global / transnational cryptocurrency. Bitcoin is likely a test balloon to see how successful it can be and whether people accept and use it or not.
    Besides it is ridiculous how much energy the mining process consumes.
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  4. #4
    Senior Member Azure Nomad's Avatar
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    Re: What is happening with Bitcoin?

    Bitcoin is just like any other investment as it is just as volatile. It has upsides but it is not for begginers IMO and I would stick to old school saving, paying down debt, 401k/Roth IRA, Index funds, precious metals, etc before going into bitcoin if you are a beginner.

    What is happening now is that the big players want to see it tank so they buy in low and then start to offer services to the masses in the coming years by charging fees.

  5. #5
    Super Moderator Mr Wombat's Avatar
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    Re: What is happening with Bitcoin?

    Bitcoin is all about a central "oops, I didn't think of that".

    The idea of bitcoin is that there are a mathematically limited amount of bitcoins out there. It's a limited, imperishable resource, it can therefore be used as a hard currency.

    The "oops" is that although there are a limited number of bitcoins, there are an unlimited number of possible cryptocurrencies.

  6. #6

    Re: What is happening with Bitcoin?

    If you do a bit of research into investing you will notice a new area in which to invest will have boom and bust before finding a trading range then will start to work like any other stock/currency.
    A 3k bitcoin is not a bad thing if the Asian market will stop trying to push it, and it starts to find a trading range.

  7. #7

    Re: What is happening with Bitcoin?

    Well, with the price down, I was gonna buy a fraction of a coin for a few hundred and see what happens, but meh.


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