CNBC: "Bitcoin is the new safe-haven asset" - page 3.

deisik

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Quote from: Carlton Banks on June 26, 2016, 03:55:36 AM

Quote from: helloeverybody on June 26, 2016, 03:31:33 AM

Keep in mind that the last time we hit $1000 it was completely artificial,Pumped up by the will bot or whatever you call it.

Why do you or anyone else actually believe that story? Because of the evidence provided?

The stories about trading bots at Gox were exactly that: stories. There was no attributable source: it was simply a claim, repeated multiple times in news pieces about the Gox fiasco. There exists nothing to prove the veracity of the stories, and should be treated in turn with due diligence.

Well, it may turn out just a story or an urban legend in the end, but there is hardly any doubt about the nature of that price spike from rags to riches. I mean that it was conspicuously artificial and ended badly...

For those who got stuck with bitcoins bought at prices anywhere above $300

Carlton Banks

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Quote from: helloeverybody on June 26, 2016, 03:31:33 AM

Keep in mind that the last time we hit $1000 it was completely artificial,Pumped up by the will bot or whatever you call it.

Why do you or anyone else actually believe that story? Because of the evidence provided?

The stories about trading bots at Gox were exactly that: stories. There was no attributable source: it was simply a claim, repeated multiple times in news pieces about the Gox fiasco. There exists nothing to prove the veracity of the stories, and should be treated in turn with due diligence.

helloeverybody

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Quote from: mirakal on June 26, 2016, 03:27:06 AM

Quote from: deisik on June 26, 2016, 02:42:26 AM

Quote from: iv4n on June 21, 2016, 12:48:47 PM

What if this expert knows something that we don't know? He pointed some risks to the security of the bitcoin's network, but in end he believe that he also said how community is working to solve some of the problems

We might not know that he went all in and bought bitcoins at $750 with his retirement money

With that amount if he sell his bitcoins now at the current price he will be at loss. However, being a bitcoin believer we have a long term goal and since we already peak to the amount of $1,000 few years back, it would be easy for bitcoin to hit that and even surpass it in the future.

Keep in mind that the last time we hit $1000 it was completely artificial,Pumped up by the will bot or whatever you call it. Once we reach $1000 with actual natural adoption its a completly different matter and all going well we should be able to hold that price rather than crashing back down to abysmal levels.

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Quote from: deisik on June 26, 2016, 02:42:26 AM

Quote from: iv4n on June 21, 2016, 12:48:47 PM

What if this expert knows something that we don't know? He pointed some risks to the security of the bitcoin's network, but in end he believe that he also said how community is working to solve some of the problems

We might not know that he went all in and bought bitcoins at $750 with his retirement money

With that amount if he sell his bitcoins now at the current price he will be at loss. However, being a bitcoin believer we have a long term goal and since we already peak to the amount of $1,000 few years back, it would be easy for bitcoin to hit that and even surpass it in the future.

deisik

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Quote from: iv4n on June 21, 2016, 12:48:47 PM

What if this expert knows something that we don't know? He pointed some risks to the security of the bitcoin's network, but in end he believe that he also said how community is working to solve some of the problems

We might not know that he went all in and bought bitcoins at $750 with his retirement money

botany

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Let there be a price correction and the same analysts will be singing a different tune.
We are still way to early in the lifecycle of bitcoin, for it to be classified as a safe-haven asset.

The Sceptical Chymist

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Quote from: pereira4 on June 21, 2016, 12:31:34 PM

Quote from: The Sceptical Chymist on June 21, 2016, 10:31:52 AM

Safe haven. That not only implies it's safe, it means it explicitly. Bitcoin doesn't qualify. Look at what the price action has done in the last couple of days and tell me that's anywhere near safe.

It's safe in the sense that 1 BTC = 1 BTC and you can hold them yourself, unlike the rest of assets where most likely you are just trusting a 3rd party to keep them for you.

Price going up and down is unavoidable due us having a tiny marketcap. Once we are 100k+ per coin with a trillion marketcap the price will be more stable.

Lol, that is some twisted logic. One bitcoin is always one bitcoin, but that's like saying one Zimbabwean dollar= one Zimbabwean dollar--that doesn't help much when you're in a period of hyperinflation. That's like saying the Zimbabwe dollar is safe, but the bread in the grocery store isn't because the price keeps fluctuating!

The point is, if the stock market is too damn volatile for your liking, there's no way you should consider bitcoin as an alternative.

Chris!

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Bitcoin is a store of value that (in some people's minds) has a negative correlation with the stock market. AKA: stocks go down, bitcoin goes up.

Gold is a great example that everyone seems to use on this forum but there are thousands of other investments that are considered safe-haven investments when there's huge uncertainties within the market. Bonds, T-Bills, GICs, anything that is negatively correlated with the stock market. Bitcoin does make sense. It's definitely not 'safe' but it is somewhere else for people to store value while the stock market plays out it's (negative) volatility.

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Bitcoin was the first rough-draft of crypto currency. Like any initial plan, it has major flaws. I think some forward looking altcoins are the better option for safe haven, looking into the future.

iv4n

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What if this expert knows something that we don't know? He pointed some risks to the security of the bitcoin's network, but in end he believe that he also said how community is working to solve some of the problems.
I think bitcoin is just very sensitive, like we are here. We are jumping on each change. When it raised from 450 to 600 in days everything was nice, when it drop fast its like someone activated alarm. Many people just creating unnecessary chaos.

This is positive thing about btc, people who read about it will see that some expert said something nice about btc. That is all, btc is growing and I`m sure this will happen often in the future.

BCwinning

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sounds like a crock of BS. It wasn't very long ago when it was 200~, this uptick may or may not be another cycle.

pappomappo

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At least some good news for bitcoin

criptix

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is that a good or a bad joke? im not so sure of it yet. Lips sealed

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Quote from: The Sceptical Chymist on June 21, 2016, 10:31:52 AM

Safe haven. That not only implies it's safe, it means it explicitly. Bitcoin doesn't qualify. Look at what the price action has done in the last couple of days and tell me that's anywhere near safe.

It's safe in the sense that 1 BTC = 1 BTC and you can hold them yourself, unlike the rest of assets where most likely you are just trusting a 3rd party to keep them for you.

Price going up and down is unavoidable due us having a tiny marketcap. Once we are 100k+ per coin with a trillion marketcap the price will be more stable.

ObscureBean

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Quote from: The Sceptical Chymist on June 21, 2016, 10:31:52 AM

Safe haven. That not only implies it's safe, it means it explicitly. Bitcoin doesn't qualify. Look at what the price action has done in the last couple of days and tell me that's anywhere near safe.

Ikr I can't believe an expert would say something like that, there is nothing "safe" about Bitcoin. At least they used "..may be.." in the second heading. But seriously you can't compare Bitcoin to gold. If everything man-made was destroyed gold would still be gold and would still look pretty and still have practical uses. Bitcoin would not even exist.
Not to mention that there are still plenty of challenges that Bitcoin has yet to overcome, any single one of those could potentially get Bitcoin on its knees overnight. Maybe someday Bitcoin might be a safe haven but you'd be crazy to store your wealth in Bitcoin right now.

The Sceptical Chymist

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Safe haven. That not only implies it's safe, it means it explicitly. Bitcoin doesn't qualify. Look at what the price action has done in the last couple of days and tell me that's anywhere near safe.

yayayo

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Finally some journalists are getting closer to the truth... for anybody informed about the Bitcoin system, its safe haven properties are clearly apparent. After all, Bitcoin is highly similar to precious metals, because it has no counterparty risk, can't be easily forged, and has a limited supply. That makes Bitcoin at least equally attractive as a store of value. The relative ease to acquire Bitcoin and its high fungibility could make Bitcoin even more attractive than precious metals in case capital has to be moved quickly to escape expropriation measures.

It is even imaginable that one day, central banks might buy Bitcoin as reserve to stabilize the failing fiat currencies. But before this happens it will already be in widespread use by the population.

ya.ya.yo!

mirakal

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I agree on the news, and if people would understand it we can witness a massive adoption in the future. This is safe in my opinion because of the main reason that it is decentralized, the function is not controlled by a specific entity and the good in IT will do every to protect the system from hackers because they have also invested and entrust they coins in blockchain.

Yakamoto

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Quote from: ~Bitcoin~ on June 20, 2016, 12:39:37 PM

Don't know how he speculate this even seeing lots of price volatility in bitcoin price in current stage and before.
Return may be huge with lots of daily and weekly swings but i don't think investing in bitcoin is same like investing in gold as stated there.

Assuming you're using a safe-haven asset as an asset that you go to when everyone else is dumping their money into the same asset, Bitcoin would qualify. Assuming you're trying to treat it like gold where you have an asset that maintains its value constantly, Bitcoin doesn't fall into the same definition. CNBC kind of left their definition ambiguous in this instance, but they aren't necessarily wrong.

~Bitcoin~

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Don't know how he speculate this even seeing lots of price volatility in bitcoin price in current stage and before.
Return may be huge with lots of daily and weekly swings but i don't think investing in bitcoin is same like investing in gold as stated there.

Topic: CNBC: "Bitcoin is the new safe-haven asset" - page 3. (Read 2340 times)