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Safe haven for our cash.... Bitcoin v's Property?


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Looks like Bitcoin is now just on the verge of all time highs and that maybe only the start with big institutions now buying and with the coin now getting real serious volume from some respected names. Could Bitcoin become the new safe haven for cash or is there even a chance some might even start selling their low performing and maybe post Covid riskier property investments and jump ship to Bitcoin and far bigger probable gains?

Interesting year ahead

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It's all fucking insane. All of it. Nothing makes sense to me any more in terms of economics. All the things that have boomed could just as easy crash within a day of me buying them.

Bitcoin is a token that says "my computer did some useless work". Cash is a token that says "We promise to give you another bit of paper if this one gets a bit scruffy"   Neither is a s

Holding cash feels like being a rabbit in the headlights. Move and you might get squashed. Stay where you are and you might get squashed.  

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9 minutes ago, JoeDavola said:

It's all fucking insane.

All of it.

Nothing makes sense to me any more in terms of economics.

All the things that have boomed could just as easy crash within a day of me buying them.

I guess the only option is to diversify and hold long term.

I had less than 10% stake in crypto that has turned into more than 35% without me doing anything.

For me Bitcoin was always the best outside bet I was going to ever take with the odds getting better by the year. Was tempted to get a little more but will just stick at where I am at the moment and see if it reaches 50% of my portfolio on it's own.

Still see it as a risk, but no more so than housing and maybe even less now

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2 minutes ago, haroldshand said:

I had less than 10% stake in crypto that has turned into more than 35% without me doing anything.

For me Bitcoin was always the best outside bet I was going to ever take with the odds getting better by the year. Was tempted to get a little more but will just stick at where I am at the moment and see if it reaches 50% of my portfolio on it's own.

Still see it as a risk, but no more so than housing and maybe even less now

Oh absolutley, I'm not saying don't buy crypto.

I'm all in pound sterling right now which is just insane. I should probably put say 1 or 2% of my net worth into a range of crypto for a long term punt.

Edited by JoeDavola
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I follow Jordan daily - he broadcasts live at 2PM each day and then does a programme after the US markets close.

He thinks bitcoin is due a 20 to 30 percent pullback. Then it goes up to 100,000 plus.

He has a tutotorial on how best to trade bitcoin as one of his recent videos outlining 3 options. He thinks the first option is best for most people.

I mention him as he called this rally as it was about to start.

https://www.youtube.com/user/TraderJCL

Here is Jordan's bitcoin video.

 

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2 minutes ago, The Masked Tulip said:

I follow Jordan daily - he broadcasts live at 2PM each day and then does a programme after the US markets close.

He thinks bitcoin is due a 20 to 30 percent pullback. Then it goes up to 100,000 plus.

He has a tutotorial on how best to trade bitcoin as one of his recent videos outlining 3 options. He thinks the first option is best for most people.

I mention him as he called this rally as it was about to start.

https://www.youtube.com/user/TraderJCL

Here is Jordan's bitcoin video.

 

It could all come to nothing, but what I will say is I can't imagine a more perfect environment than where we are now for bitcoin to go to the moon.

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12 minutes ago, JoeDavola said:

Oh absolutley, I'm not saying don't buy crypto.

I'm all in pound sterling right now which is just insane. I should probably put say 1 or 2% of my net worth into a range of crypto for a long term punt.

If you do Joe work on your mindset that money does not exist which took some effort on my part.

Right now Bitcoin could quite easily pull back to under $15,000 and I will  hardly  flinch these day, and for the record there is fair odds that could happen

Edited by haroldshand
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1 minute ago, haroldshand said:

If you do Joe work on your mindset that money does not exist which took some effort on my part.

Right now Bitcoin could quite easily pull back to under $15,000 and I hard flinch these day, and for the record there is fair odds that could happen

 

See my posts above. Should top out around now to 22K and then 20 to 30 percent pullback.

Apparently the big boys are in accumulation mode so they could drop it to pick more up. That would put it in the 16ish region.

 

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8 minutes ago, The Masked Tulip said:

He thinks bitcoin is due a 20 to 30 percent pullback. Then it goes up to 100,000 plus.

I was expecting a pull back at the $15,500 level ish and I still think it is coming, but those shorting still  are getting burnt now and with a lot of people clinging to Bitcoin to dear life.

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3 minutes ago, haroldshand said:

If you do Joe work on your mindset that money does not exist which took some effort on my part.

Right now Bitcoin could quite easily pull back to under $15,000 and I hard flinch these day, and for the record there is fair odds that could happen

I'd be buying with the idea that I'm essentially saying goodbye to that money; in the hope that in 5 years from now it's worth more than it would have been sitting in pounds.

Edited by JoeDavola
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Property - as in one house in which you live and own - has tremendous advantages over any other place to put your money.

  • Security of tenure - you move if and when you want.
  • No rent to pay or mortgage if you've paid it off - big reduction in the amount of net income you require every month = freedom to go part time or retire
  • Room to pursue your hobbies and store things.

These things are of course only true of your first home, not additional property purchases, and the return diminishes the larger the house you have (Council Tax and running costs go up but you're not saving any more rent).

In its way it is the ultimate investment because of the financial and many non-financial benefits it brings.

 

Bitcoin is just another financial investment.  Maybe it will outperform gold or equities.  Maybe it won't.

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10 minutes ago, JoeDavola said:

It could all come to nothing, but what I will say is I can't imagine a more perfect environment than where we are now for bitcoin to go to the moon.

I refused to think in any other way than you Joe and still do a little, but I personally struggle to find it in myself now to see it end in failure. It really is a much better world banking system than we have now without anyone abusing or manipulating it and with huge potential for growth.

One day a crappy little village in darkest Africa or Papua New Guinea could have a community 1 Bitcoin and a mobile phone and that is enough to to become part of the world economy on their own and be their own bank

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3 minutes ago, Frank Hovis said:

the return diminishes the larger the house you have (Council Tax and running costs go up but you're not saving any more rent).

In its way it is the ultimate investment because of the financial and many non-financial benefits it brings.

With the inflation in house prices and councils going bust in the future, moreso than ever I'm looking for a modest house that meets my needs so that I can then concentrate on diversifying.

I'm also thinking of things like travel in the overall value estimate of a house - e.g. somewhere where I need to spend £1000 a year on a train ticket vs somewhere where I can cycle to work.

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1 minute ago, haroldshand said:

I refused to think in any other way than you Joe and still do a little, but I personally struggle to find it in myself now to see it end in failure. It really is a much better world banking system than we have now without anyone abusing or manipulating it and with huge potential for growth.

One day a crappy little village in darkest Africa or Papua New Guinea could have a community 1 Bitcoin and a mobile phone and that is enough to to become part of the world economy on their own and be their own bank

I must confess, I still don't 100% understand how bitcoin all works.

I also would need to understand how feasable it is for various world governments to get together and put it out of business.

Another good barometer would be how many large transactions are there happening - how many high net worth people are putting 6 to 8 figure sums into bitcoin?

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5 minutes ago, The Generation Game said:

Not true. Dominion coin is a one-way bet. 

I was surprised to find that it was a Toronto company that bought the assets of Diebold. The only thing I know about then is that they put out occasional adverts for really badly paid programming jobs working from an office on a shitty industrial estate. Doesn’t exactly inspire confidence in the product I have to say.

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1 minute ago, JoeDavola said:

I must confess, I still don't 100% understand how bitcoin all works.

I also would need to understand how feasable it is for various world governments to get together and put it out of business.

Another good barometer would be how many large transactions are there happening - how many high net worth people are putting 6 to 8 figure sums into bitcoin?

5 years on and I still don't 100% get it, but I am mostly there and a lot is hard for me to articulate though it is now mostly clear in my head,  It is far more than just an investment and many hate those who treat it as such, too many it is a religion and a force for good.

Like with anything you have to your own research but for  me I take more comfort in listening to who I consider very clever good people than the people who have high profiles such as Bankers who slag it off, Mmm why?

Bitcoin is far from worthless, it probably has the worlds biggest computing power behind it and with a lot of cost and effort into making a near totally safe easy to transport secure bitcoin.

Look into it  mate and don't just think it is just some made up monopoly money, after you do your research you will see how superior it is to gold.

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1 minute ago, haroldshand said:

Look into it  mate and don't just think it is just some made up monopoly money, after you do your research you will see how superior it is to gold.

Will do - once I have a modest house bought to offset the opportunity cost of renting (and with prices being so high and most houses being in such bad state it could be argued it doesn't do that terribly well), I'll be wanting to have the bare minimum in GBP basically.

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