Bitcoin breaches 70,000!

[Quagmire]

You don't need to guess; I already indicated that I had considered it

No, you said that you considered it.

'indicate' implies that there would be some observable evidence to that effect.

—when I disagreed with your conclusion.

Which conclusion exactly?

Or are you saying that there can only be one outcome (the one you determine)?

I'm saying when you quote someone you should quote them in context.

I'm saying (and have said) that you took my quote out of context and made it look like I was saying something that I didn't.

If you're going to tell me that you actually considered all of the above and disagree because . . . what? Because you disagree?

Well then, apparently you and I have different ideas for what the word 'consider' means.

If so, seems I misunderstood what you were after.

Just trying to keep things straight, that's all.

 

[Unfettered]

No, you said that you considered it.

'indicate' implies that there would be some observable evidence to that effect.


Which conclusion exactly?


I'm saying when you quote someone you should quote them in context.

I'm saying (and have said) that you took my quote out of context and made it look like I was saying something that I didn't.

If you're going to tell me that you actually considered all of the above and disagree because . . . what? Because you disagree?

Well then, apparently you and I have different ideas for what the word 'consider' means.


Just trying to keep things straight, that's all.

Thanks for your replies. We may be speaking past one another, but I don't think further work will be worth the effort. Withdrawing. God bless.

 

[Quagmire]

Withdrawing.

Good move.

 

[Unfettered]

Good move.

Gotta know when to fold 'em, right?

 

[libre]

I remember thinking I was too late when it was 400$ a pop.
Wild to see it continue to soar.

 

[bobhikes]

How so? I mean aside from actually selling them.

I mean, grocery stores sell products made out of soy, but I don't think I've ever seen Kroger suggesting that their customers invest in soybean futures

My point is we didn't have major financial institutions offering beanie babies as speculative commodities.

And if you're putting Walmart and Target in the same category as Black Rock or microstrategies, You're missing the point.

Yes they're all corporations, but they're corporations set up for all together different purposes.


The purpose of investment firms isn't just a to make money for themselves, they have to make money for the customers as well are they won't be able to stay in business.


Sorry but that sounds doesn't make any sense.

Could you clarify a bit?


And they will suffer losses and lose customers, two things that all of these corporations try real hard to avoid.

If they didn't believe that Bitcoin will be a profitable investment in the long run they wouldn't be playing with it.

I don't know how familiar you are with how investment firms work, but it's not like they're telling their customers, "Here, buy this ETF (*snicker snicker* sucker)", and then just take your money and run. There are fly-by-night organizations that do just that, but Black Rock, Microstrategies, grayscale, Van eck, etc. Don't fall into that category.

Like I said: If their customers lose money, they lose money (and clients).


Uh, yeah It kind of is.


And it probably never will. People are pretty much given up on the idea of Bitcoin ever being a usable currency.

Now it's considered a store of wealth, like gold.

And it's considered such by some people who know what they're talking about like Robert Kawasaki, Mark Cuban, Jamie Diamond andTim Draper to name a few

Gold is a physical product bit coin is not. Rich people are not infallible. Financial institutions are out to make money and do invest in bad products remember the Great Depression or the Financial crash of 2007 - 2008. I did check for you there are currently 13 banks investing about 3 billion in crypto out of the Trillion Dollar valuation or less than .5% of said valuation. In fact most financial institutions recommend it only as a risky hedge and no more than 5% of your portfolio.

 

[Quagmire]

Gold is a physical product bit coin is not.

Which seems to intimidate a lot of people.

Considering that we're living in the digital age, I think that it's a phobia most people would do well to get over.

Rich people are not infallible.

Neither are doctors. But if my doctor says that I need to watch my diet and you say I don't, I'm probably going to listen to her.

Financial institutions are out to make money

Yes, for themselves and their clients like I said.

Not sure why you keep bringing that up, and repeating it doesn't make it any clearer.

and do invest in bad products remember the Great Depression or the Financial crash of 2007 - 2008.

Do you understand what was behind those events? I'll give you a hint: it wasn't buying 'bad' products.

I did check for you there are currently 13 banks investing about 3 billion in crypto out of the Trillion Dollar valuation or less than .5% of said valuation.

Actually no:

These 13 banks have invested the most in crypto and blockchain to date

Standard Chartered, JPMorgan, and Nomura are among the financial heavyweights on the list.

markets.businessinsider.com

According to business insider, 13 top banks are leading in investing in crypto, but that's just the tip of the iceberg. The article goes on to say that, "

• 55% of the world's top 100 banks are investing in the crypto and blockchain space. "

In fact most financial institutions recommend it only as a risky hedge and no more than 5% of your portfolio.

I guess we'll have to take your word for that since you didn't providing any links.

Have to say though, I'm actually impressed by how well you managed to miss all of my points (and I decided to respond to all of yours anyway. Don't ask me why)

I've never understood the philosophy behind getting into a discussion about a topic that you've already got your mind made up about.

But hey, you do you.