re: Is it time to short Bitcoin ?

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It’s the greater fool theory playing out before our eyes.

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You can make this argument about ANY investment. It's WEAK.

At what point will you accept that Bitcoin is here to stay? Like what has to happen in your mind from it to go from a "fomo trade" to a serious place to park fiat?

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You can make this argument about ANY investment. It's WEAK. At what point will you accept that Bitcoin is here to stay? Like what has to happen in your mind from it to go from a "fomo trade" to a serious place to park fiat?

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It’s not an investment. It’s a trade. At least for me.

But lets just say its an investment for you.
What is the investment based on? Why do you want to own it?

For me, I don’t use it. Mostly because there is zero use for it. I suspect you don’t have any use either but I could be wrong. What is your use?

I have bought it as a trade based purely on fomo. I bought it because it was going up. I suspect you’re the same but maybe not. If not, tell us why you want to own it.

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1.This doesn't mean anything.

2. Store of value and capital appreciation.

3. What is your use for a 5 oz gold bar?

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1. It certainly does have meaning. You also ignored the rest of my comment where I mentioned that it was not an investment for me. It was a trade for me. I specifically made that distinction because to me, investments have to have instrinsic value. I need to have use for it. There is zero use for bitcoin to me. I suspect you have zero use for it either but we’d all love to hear what it is if you do. I went through the dotcom boom/bust and know first hand what a day of reckoning can bring when you own something that has zero intrinsic value.

2. Store of value. Can you define that? Is it like a saving account store of value?

3. 5 oz gold bar. Not sure why you mention a 5oz gold bar but for sake of discussion, a 5 oz gold bar certainly has value and use. I don’t own any bars now but I have in the past. As a matter of fact, after Katrina, when I had no cash but a need for some repairs, I paid some construction guys with gold bars that I had. For that matter, I also traded a jeep wrangler for some roof work. Even more for that matter, I gifted a decent amount of AT&T stock to a school as a donation. Not sure i could do that with bitcoin but if it were possible then it applies some value beyond what the market applies since there could be tax deductibility. Again, I really don’t know that.

By your comments, I detect some degree of youth and / or inexperience in investing. Your response to my comment about bitcoin not being an investment is especially telling. Whether or not you are experienced, I’d just ask you to be open minded to the prospect that bitcoin could be another example of greater fool theory . It’s value could be nothing more than financial fomo. Please be open to that possibility. If you are experienced in finance or investing, that should be easy for you to realize.

It’s fun to see it appreciate in value but try not to be blinded by the light. You seem to be particularly optimistic about bitcoin. There’s some inexperienced but curious posters here and it’s simply unfair to lead them down a primrose path. If you’re experienced, I’d hope you aren’t trying to do that

Probably but it’d be a pretty stupid decision on roofers part.

Yes

Thanks, and I hope no one ever puts themself in a postition according to your financial advise.

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1. It certainly does have meaning. You also ignored the rest of my comment where I mentioned that it was not an investment for me. It was a trade for me. I specifically made that distinction because to me, investments have to have instrinsic value. I need to have use for it. There is zero use for bitcoin to me. I suspect you have zero use for it either but we’d all love to hear what it is if you do. I went through the dotcom boom/bust and know first hand what a day of reckoning can bring when you own something that has zero intrinsic value.

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It doesn't mean anything because you're making a distinction without a difference. Every investment is quite literally a trade. You are trading something of value for another thing you hope appreciates in value more greatly than what you're trading.

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2. Store of value. Can you define that? Is it like a saving account store of value?

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I hope this isn't a serious question.

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3. 5 oz gold bar. Not sure why you mention a 5oz gold bar but for sake of discussion, a 5 oz gold bar certainly has value and use. I don’t own any bars now but I have in the past. As a matter of fact, after Katrina, when I had no cash but a need for some repairs, I paid some construction guys with gold bars that I had. For that matter, I also traded a jeep wrangler for some roof work. Even more for that matter, I gifted a decent amount of AT&T stock to a school as a donation. Not sure i could do that with bitcoin but if it were possible then it applies some value beyond what the market applies since there could be tax deductibility. Again, I really don’t know that.

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You've never heard of donations being made in BTC?

People take BTC as payment for their labor but you're not sure you could get a roof put on your house no matter how much BTC you offered. lmao

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By your comments, I detect some degree of youth and / or inexperience in investing.

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You're about as perceptive as Kamala Harris.

Oh another classic Slidell takeover thread. Round and round we go with the same questions and we get no where

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Looking for a healthy pullback here to 80000 to 85000. On a longer macro I see it pulling back to 60000 before it goes 250000 by end of next year.

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Ok, Tom Lee