Altcoins

Gold is turd. If you bought in 2011, you’d only just have broke even over the last couple of years. If you bought at the top in 1980 you’d have waited until the 2000s to get back in the green, how the hell can that be deemed a good hedge against inflation.

BTC has done about 11000% in just over a decade .

Originally Posted by jem

bitcoin is finite, but crypto that replicates every aspect isn't. what's the point?

There isn't another crypto that replicates BTC though. It's the foundational cryptocurrency with the biggest and most established blockchain. It's arguably become the biggest single brand of anything on the planet. The point of alt coins is pure speculation IMO. Altcoins are essentially gambling similar to that of a game of roulette in the casino.

I don't see the outrageous 1000x gains in BTC happening again, hence why so many people chasing those big gains are seeking them out in alts, such as the Doge and Shiba Inu mania we saw last year.

BTC should be seen as a separate part of the crypto space to altcoins IMO. They are not the same thing.

Originally Posted by Neo

There isn't another crypto that replicates BTC though. It's the foundational cryptocurrency with the biggest and most established blockchain. It's arguably become the biggest single brand of anything on the planet. The point of alt coins is pure speculation IMO. Altcoins are essentially gambling similar to that of a game of roulette in the casino.

I don't see the outrageous 1000x gains in BTC happening again, hence why so many people chasing those big gains are seeking them out in alts, such as the Doge and Shiba Inu mania we saw last year.

BTC should be seen as a separate part of the crypto space to altcoins IMO. They are not the same thing.

I would de-couple Eth from all other alt coins too now.

Originally Posted by Tory Dave

Gold is turd. If you bought in 2011, you’d only just have broke even over the last couple of years. If you bought at the top in 1980 you’d have waited until the 2000s to get back in the green, how the hell can that be deemed a good hedge against inflation.

BTC has done about 11000% in just over a decade .

Long-term research has shown that an allocation of around 5% to gold within a portfolio reduces volatility and increases returns.

It is a little counter-intuitive given gold's performance, but because it marches to its own drum, and often shines during market distress, it is well worth considering.

Originally Posted by Neo

There isn't another crypto that replicates BTC though. It's the foundational cryptocurrency with the biggest and most established blockchain. It's arguably become the biggest single brand of anything on the planet. The point of alt coins is pure speculation IMO. Altcoins are essentially gambling similar to that of a game of roulette in the casino.

I don't see the outrageous 1000x gains in BTC happening again, hence why so many people chasing those big gains are seeking them out in alts, such as the Doge and Shiba Inu mania we saw last year.

BTC should be seen as a separate part of the crypto space to altcoins IMO. They are not the same thing.

not really an answer to the question "what's the point?" is it?

Originally Posted by jem

not really an answer to the question "what's the point?" is it?

Don’t think I understand your original question then, Jem. Assumed you meant “what’s the point” in Bitcoin’s finite supply if it can be replicated by an infinite supply of altcoins. If so, I’ve tried to explain that these altcoins aren’t actually replicating Bitcoin in any way.

If you were asking “what’s the point” in Bitcoin as a whole, then that’s a much more complex question, and one of many answers, I believe, is that it’s incorruptible nature helps create a monetary system devoid of much of the issues that blight a traditional fiat-based system, thus creating a much fairer, more transparent system where the individual reclaims autonomy of their financial freedom from the monopoly of centralised banking.

Originally Posted by tatty

Long-term research has shown that an allocation of around 5% to gold within a portfolio reduces volatility and increases returns.

It is a little counter-intuitive given gold's performance, but because it marches to its own drum, and often shines during market distress, it is well worth considering.

Honestly, and I’m not sure on the forum appetite for a Tory-off, but I just don’t see it with Gold. It looks an asset you really have to be buying when looking at long-term charts. Like I say, if you FOMO’d in at the top in 2011, it’ll have taken you the best part of a decade to get your dollar value back, that’s shambolic.

I have dabbled in PaxG in the cryptoverse which is essentially a stable coin pegged to the value of gold. If there is some kind of staking made available I would consider as I’d at least then get returns on it. The price action was the financial asset class equivalent of watching United though.

Stop listening to Peter Schiff Tatters.

Originally Posted by Tory Dave

Stop listening to Peter Schiff Tatters.

It's Modern Portfolio Theory, which isn't actually that modern because Harry Markowitz came up with it in the 1950's.

The gold isn't there as a returns engine as such, it is there because of its (often) negative correlation to equities.

I am aware of Schiff and his anti-crypto views, I don't share them.

Originally Posted by tatty

It's Modern Portfolio Theory, which isn't actually that modern because Harry Markowitz came up with it in the 1950's.

The gold isn't there as a returns engine as such, it is there because of its (often) negative correlation to equities.

I am aware of Schiff and his anti-crypto views, I don't share them.

Don’t mind the Schiffmeister to be fair. He is a bit of a windbag on Twitter but he comes across as a pretty ok lad in interviews. I’m sure his son is a massive Bitcoiner .

I’m going to have to do some more research. I’m too one-dimensional when I look at these things.

Brutal.

Time to buy

Originally Posted by waynes ear's

Time to buy

I'm waiting a little longer. A lot of this seems to be coming from the uncertainty over US interest rates. I think we could see another 20% in the next week.

Literally everything has been red for f***ing weeks now. How is this even possible??

Originally Posted by Tory Dave

Literally everything has been red for ****ing weeks now. How is this even possible??

You re the expert pal you tell us thickos pls

Originally Posted by Tory Dave

Literally everything has been red for ****ing weeks now. How is this even possible??

Stage 2 - Anger

Originally Posted by Tory Dave

Literally everything has been red for f***ing weeks now. How is this even possible??

It's the tory's best friend, the invisible hand of the market.

Originally Posted by Mr_Ed

Some talk of 10k USD but that may tie in with the 100k BTC that never happened.

Sitting tight with mine for the time being.

Originally Posted by Neo

ETH down nearly 20% since the day of this post.

Horsehead Ed, the crypto sage.

Make that 40%.

#HorseHeadEd
#CryptoSage

Originally Posted by Neo

Make that 40%.

#HorseHeadEd
#CryptoSage

Playing the long game… I sleep well.

Anyone gone in on Apecoin? Went up on Coinbase yesterday and went from £0.76 and is now at £12

Originally Posted by Mr_Ed

Anyone gone in on Apecoin? Went up on Coinbase yesterday and went from £0.76 and is now at £12

One of my good mates who has a mutant ape NFT got awarded a few thousand of these and is sitting on 18k off that alone today.