Off Topic Does anybody understand bitcoin?

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Gone For A Walk said:
Time in the market not timing the market. Classic mistake, thinking we know what the market will do, where the bottom or top is. Not even the pros know.
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Yep, people love to think they have an idea where it will go but as with any market, if it was ever definitely about to go a certain way then it would already be there.

Crypto just seems to have ran out of steam because it's been a year or two since it exploded into the mainstream so it's not seen as so edgy and exciting any more, and as expected, it's not really been adopted in any meaningful way so it still has no tangible value as a technology. Appearing cool and new was enough to make it big for a while, but that's fizzled out now and still no one really can say what the point of it is.
 
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PLT said:
Yep, people love to think they have an idea where it will go but as with any market, if it was ever definitely about to go a certain way then it would already be there.

Crypto just seems to have ran out of steam because it's been a year or two since it exploded into the mainstream so it's not seen as so edgy and exciting any more, and as expected, it's not really been adopted in any meaningful way so it still has no tangible value as a technology. Appearing cool and new was enough to make it big for a while, but that's fizzled out now and still no one really can say what the point of it is.
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Get your head out the sand mate you can already buy stuff off Facebook marketplace with dogecoin. I haven’t used sterling for about 6 month
 
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Amin Yapusi said:
Get your head out the sand mate you can already buy stuff off Facebook marketplace with dogecoin. I haven’t used sterling for about 6 month
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It always amused me that Dogecoin had such little value, supposedly because it was just a joke currency and had no value in any real sense. As if that actually made it any different from the rest...
 
PLT said:
It always amused me that Dogecoin had such little value, supposedly because it was just a joke currency and had no value in any real sense. As if that actually made it any different from the rest...
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Its signifies the whole thing. Mugs being taken for mugs in the most ridiculous Ponzi scheme the planet has ever seen.
 
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Gone For A Walk said:
Time in the market not timing the market. Classic mistake, thinking we know what the market will do, where the bottom or top is. Not even the pros know.
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I know that I can't time the market. That's why I dollar cost average.

The thing with crypto currency is because of Bitcoin halvening you can time the highs and lows of market roughly.

The highs are historically about 18 months after the halvening and the lows are usually a year after the high. Its not perfect but it gives you a idea.
 
I'm up 2.66 times this year.

Bitcoin is at $30k and we're a year away from the halvening.

If I was people and I had some money spare I'd put 50% in Bitcoin, 25% in Ethereum and then share the rest out between alternative coins.

The last bull run I 18 times my portfolio from November 2020 to December 2021.
 
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