Bitcoin rallies $1,200 this morning. Sits at $20,600

[Cotton1]

No assets. No backing. No faith.

You said the same thing in July when it was $10k. I've made another $110k on it since then.

I told you then and now that its not a traditional type of investment you measure in the same manner you would a stock etc.

The non-believers then and before tend to believe once the price rises.

Thats why so much sideline cash has been available to push it to new highs

BTW, a share of stock is not tangible either.

In a bankruptcy common shareholders get scraps, if they are lucky.

[Cotton1]

i don't know a lot about this but i'd have to say one would be an idiot to invest in this.

You're correct, you don't

[Calypso Jones]

okay. well y'all go ahead. I'm not.

[Cotton1]

BTW, I am not recommending it or any crypto to anyone.
I spent a career in finance as a stock and commodity broker. I have the knowledge of the product, experience, liquidity, risk tolerance and meet suitability requirements that include level of investor sophistication.

The average player or investor is not suitable for cryptos. They are extremely volatile.

In other news it's my belief as we go deeper into a cashless society and possible global currency that ones cash will have to convert. It may be 10 years from now or never but the wheels are in motion.

What we are seeing here is capital being converted to BTC at $20k. The same capital was convertible at $4k two years ago

Supply is fixed at 21 million BTC.
Hedgers, specs, long term investors , whales etc are all over this. The whales are dug in looking for $50-100k.

Not an official prediction but I will make the statement $50k+ is not out of the question.

I'd hate having to convert capital at $50k

Two words "fear , greed"

The golden rule

"He who has the gold, rules"

At least for now it's a matter of choice.

[Cotton1]

okay. well y'all go ahead. I'm not.

Different cryptos serve various functions. They are not all one and the same.

I'm building a good position in another crypto that is used only to facilitate transactions between financial institutions.

It can process at a rate of 1500 transactions per second which is 100 times faster than BTC

[Cotton1]

The oddity of cryptos is some of the biggest early money was not from professional investors, hedge funds etc.

It was made by tech geeks.

Tech geeks are not typically seasoned investors so it made the price action in the early days follow a different pattern than most investments.


That's what created a bloodbath a few years ago when they panicked out and gave the "blood in the streets" buyers such as myself an easy layup on this asset class

[Cotton1]

Bitcoin price.Two years ago: $3,200 :

One year ago $6,880

Six months ago: $10,783

Three months ago: $11,330

One month ago: $16,743

Now $20,679

[Cotton1]

1 Bitcoin equals
21,143.90 United States Dollar


Holy Sheeet..!

[Peter1469]

Apparently so my son has told me you can buy parts of a Bitcoin, when I asked about how much he had invested he told me he bought a quarter of a Bitcoin, at the time a Bitcoin was £8k so my son invested £2k
today a full Bitcoin is worth what £20k? If correct he has earned £3k profit.

He doesn't earn anything until he sells.

[Cotton1]

1 Bitcoin equals
21,710.00 United States Dollar