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Originally posted by AdVictoriam:
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Interesting stuff. BTC is still in a solid up trend on the daily and weekly. If BTC takes a massive plunge one day, the panic selling and decimation will be insane. Many lazy punters have placed massive bets as the lazy way to play the finance markets. They have also bought into the dream of BTC can never go wrong and it's the future etc, which may in fact be true, we'll see. It will probably take a massive hit eventually for nothing else than maybe a shorting collusion. In related news there was a K***o BTC vs gold debate (click-bait) with Schiff and Alex M in the last few days. Schiff was totally embarrassing. BTC is complex like gold and although it's volatile as heck and could go to zero one day it it does share some major attributes with other value storing assets; being that it's properties make for suitable money, and that human capital was deployed in it's creation and is continually deployed with regards to mining. I believe BTC is the value-backing store itself, and therefore does not need backing just like gold does not need backing. However there are some unique challenges for BTC; will it stand the longevity test? Another big one is any government policy affecting BTC because BTC is money for the people and also a big vehicle for criminals - pretty much the no. 1 and 2 targets for government especially with any 'fed-coin' initiative which will see every dollar monitored. This may drive people to BTC even more. i.e. tradies charging BTC for the new 'cash jobs'. In other news maybe we are approaching end-cycle with articles like this one being published: "How to trade forex while you work". That is like saying "how to go skydiving whilst working" https://www.forexlive.com/education/!/how-to-trade-by-forex-while-you-work-strategy-20211119
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Watch -On the margin Mike Green vrs Alex Gladstein If you a highly intelligent btc debate. Mike was an early btc adopter who change his stance with very good reason. Re the Schiff interview- I found it more light entertainment and rather funning when he spat the dummy. I think Alex M lost that debate when he said "Gold has zero value".