How is bitcoin worth buying now at these prices? - page 2.

Lucius

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Quote from: JimboToronto on December 26, 2020, 07:00:05 PM

Not necessarily. In the year after a halving year, Bitcoin has always experienced extreme price increases.
~snip~
Many years to triple your money? Nonsense.
Now is an excellent time to invest in Bitcoin.

This has always been the case so far, and as things stand at the moment, history will repeat itself, but with some new numbers. Unfortunately (for them) some have very illogical thoughts and are a little afraid of these current figures - not to mention that some have completely wrongly expected 2020 to end the same as 2017. Given that we are still in the year of halving, it is realistic to expect that the real effects will start to show in Q3/Q4 2021, so the time for investment is not unfavorable. Admittedly the story has been repeated this year that anything under $10 000 is a cheap purchase, just as everything under $1000 was cheap 5 years ago.

While the past is no guarantee that some things will happen again in the future, those who see the bigger picture can see some things much more clearly than those who look at everything from the point of view which includes only one point in time.

thecodebear

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Quote from: JimboToronto on December 27, 2020, 12:32:42 AM

Quote from: Josefjix on December 27, 2020, 12:05:28 AM

The only thing that has left everyone puzzled is the mass adoption from many institutional bodies.

Who's puzzled?

This isn't new. Here's something from 2013:

https://www.youtube.com/watch?v=qHUPPYzzZrI

That's from 2013, except that institutional adoption is still in the early innovators phase right now in 2020! The institution names we are reading about buying up Bitcoin this Fall is the first major wave of the early innovators. Not even close to early adopters yet for institutions. Meanwhile the retail market probably hit early adopters in 2017 but is still there, and might get to the early majority over the next 5 years, while on the institutional side it'll move into the early adopters over the next couple of years and maybe even early majority over the next 5 years as well.

JimboToronto

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Quote from: Josefjix on December 27, 2020, 12:05:28 AM

The only thing that has left everyone puzzled is the mass adoption from many institutional bodies.

Who's puzzled?

This isn't new. Here's something from 2013:

https://www.youtube.com/watch?v=qHUPPYzzZrI

Josefjix

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yes

Bitcoin has a nice historical data corrections on the price curve unlike some random stock investment that would fold upon successful investment whose loss can no longer be mitigated at the long run. You said you don't know much about stock investment but would rather choose it over bitcoin, it is not business wise. Don't invest in what you don't know. Bitcoin can actually surpass even your predicted $50k and aim higher than $100k then those who bought @ $20k might have gained x4 of their capital. Don't possible pressure Bitcoin to double your investments like a ponzi scheme it is not.
The only thing that has left everyone puzzled is the mass adoption from many institutional bodies.

JimboToronto

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Quote from: jerry0 on December 26, 2020, 03:24:37 PM

...I don't know anything about stocks but i think i rather buy a random stock and it has a much better chance to double in price than btc when its 25k. Thoughts on this?

You got the first (highlighted) part right.

Don't expect to make big gains on stocks traded on exchanges. They've already been milked.

By the time of an IPO, the real money has already been made by venture capitalists. The vertical part of the s-curve of adoption is long gone. The retail suckers who buy through brokers are just being thrown scraps.

Sure, some people get rich by buying and selling but it's not by just buying and selling shares on an exchange. Warren Buffett bought controlling interests in companies, restructured them and made them profitable. He didn't just gamble on the price of shares.

Unfortunately most people don't qualify to be venture capitalists. They have to wait until the IPO before they can legally buy.
____

Bitcoin is completely different. It has yet to reach the vertical part of the s-curve but anyone can buy in.

There's no need to wait for an IPO. Anyone can be a venture capitalist and make the big gains.

Anyone who figured this out when Bitcoin was priced in 2 or 3 digits and didn't foolishly sell is probably already a multi-millionaire.

It's not too late to still get on board. Most knowledgeable Bitcoin veterans expect to see prices in 6 digits and possibly beyond.

maydna

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That is what you need if you want to double your money. But for people who don't chase that big profit, they will prefer to take any profit as they can, and they will do it over and over again. It needs too long to wait until you see the price can double the price you bought, so only some people will wait for a while and not doing anything.

If the bitcoin price is $100k, that will be a big profit for us, especially if we bought bitcoin at $20k. But I prefer to buy bitcoin than stock because the stock will need more time to analyze, although bitcoin needs to analyze too.

cryptomaniac_xxx

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Quote from: jerry0 on December 26, 2020, 03:24:37 PM

With the price of it 25k at the moment... even when its 20k... in order to double your money, you need it to hit 50k or 40k. That number still looks so far away with how much btc has went up this year. And imagine wanting to 5x your money.

Why it is not worth it when less than a year ago the price is just $3k? And look at where the price is heading, $50k? it's peanuts actually, the price and this bull run has no boundaries. Of course there will be some pull back, but with kind of bullish sentiments and the whole 2021 around, it's possible that we might see 6 digits in the next 2 years so definitely worth a try to buy today. Also, you don't need to get one whole bitcoin, perhaps you can DCA or just invest what you can afford, as the saying goes.

Fundamentals Of

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So I guess we should try our best to accumulate as many Bitcoin as possible now while the price is still considered low. Perhaps by the time Bitcoin reaches $100k or $300k we will hit a certain level of stability that will somehow cause Bitcoin to function more as a currency than just a speculative asset or a form of investment.

I hope that time will come. It may not appeal to those who wish to create easy money by buying Bitcoin but that time is probably the one envisioned by Satoshi.

adaseb

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You think its easy to double your money in trading stocks? Did you trade stocks before or did you just hear about people turning $10K into $1M on wallstreetbets.

Most stocks don't go up like 10% a day like Bitcoin. Most average like 1-2% a week if you are lucky. There are low cap stocks that can easily double or triple or 10x in a year but they are very risky and usually go bankrupt. The people who turned $10K into $1M were people gambling with call options. They basically bought very expensive calls and the stock went parabolic and that option ended up being worth like 10x in a short period. They got lucky a few times but eventually they gave all that money back when they started to buy options at the wrong time that expired worthless because the stock went the wrong way or just traded sideways.

So if you want to double your money? How much risk exactly can you take. Because this is what matters the most.

coolcoinz

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Why are you thinking about doubling your money? Does anything less make Bitcoin not worth buying? With stocks or any other investment like real estate a 10% gain in a year is considered decent and something like 50% is huge and rare. I'd advise you to calculate how much you're losing on holding fiat money in the bank. In many countries where rates are negative you're at least 2% down every year. Even if your bitcoin investment were to bring you 10% a year you should be happy instead of taking the numbers we're seeing today as granted.

hatshepsut93

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Bitcoin is in a strong bull market now. The price will be rising for quite some time. Yes, no one can guarantee you a $50k or whatever nice goal you may want, but still Bitcoin right now is a very simple investment - just don't panic sell at the first correction you encounter and you will be fine. You can't say the same about a "random stock", which might crash because their company would majorly screw up or just won't do well, especially at these times of pandemic.

JimboToronto

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Quote from: Sled on December 26, 2020, 06:04:13 PM

If you wanted to double, triple your money after investing, you will have to wait for many years to come...

...Investing this time is ultimately at high risk, TBH. But this never holds those people who believe that Bitcoin will grow more in the future. Ain't that you or even may (maybe) but many others around can do.

Not necessarily. In the year after a halving year, Bitcoin has always experienced extreme price increases.

In 2013 it increased 20-fold between January and early April, and then increased 20-fold again between mid-April and December. From January until December it increased 100-fold.

In 2011 it increased 25-fold between January and December.

Many years to triple your money? Nonsense.

Now is an excellent time to invest in Bitcoin.

Quote from: Sled on December 26, 2020, 06:04:13 PM

If I buy Bitcoin today, I didn't think to doubled it easily but as a trader, I didn't wait that long to make money by having a few percentage gains (buy and sell), well, that be good enough.

That's the difference between an investor and a trader/gambler.

Investors are in it because they see the long-term value and wish to participate in a worthy project. Traders are just trying to make a quick buck (which they seldom do).

error08

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Do not invest in something that you don't know how it works and what is the potential in the future.
Even in stocks, people have to do due diligence before choosing one that might bring profits, nothing for sure but we take the chance by calculating the probability. The same thing applies to bitcoin, learn the market and what are the factors that drive it, then calculate the probability of whether it can reach $50k in a certain time frame or not.

Sled

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Bitcoin- in bullish time

If you wanted to double, triple your money after investing, you will have to wait for many years to come.

If I buy Bitcoin today, I didn't think to doubled it easily but as a trader, I didn't wait that long to make money by having a few percentage gains (buy and sell), well, that be good enough.

Investing this time is ultimately at high risk, TBH. But this never holds those people who believe that Bitcoin will grow more in the future. Ain't that you or even may (maybe) but many others around can do.

JimboToronto

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Quote from: Coin-Keeper on December 26, 2020, 03:44:29 PM

We had this exact same conversation all the way back in 2011. Those of us that got in early were scared to death to invest in more BTC when the coins were at $1000.00 during 2011.. Now I would sell everything I own to buy coins at $1K, obviously. Too bad we didn't have a thread here started in 2011 titled "2020 coins will be selling over $25K, AND large investment firms would be buying up coins in lieu of Gold". The OP of that thread would have been dismissed as a "dreamer". Same thing in 2017, and so on.

I think you're mixing up your years.

Bitcoin never went higher than $32 in 2011.

Out of curiosity, if you were having conversations about Bitcoin here in 2011, what was your original user name?

I noticed you didn't register until 2016.

TimeTeller

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Quote from: eaLiTy on December 26, 2020, 05:27:21 PM

Quote from: jerry0 on December 26, 2020, 03:24:37 PM

Yea i know you would say... imagine btc is 50k or 100k or 300k, then what about then? Well by then, i don't even know how it would make any sense to buy it as even doubling your money would be extremely hard.

The risk is always there when you are investing at this price as the price already breached $26.6k and still moving up without showing any signs of weakness, i am just watching in awe as the price keeps on moving up as i have no idea from where these huge investments are coming in and i will stay away from investing at this price.

Quote from: jerry0 on December 26, 2020, 03:24:37 PM

For example I don't know anything about stocks but i think i rather buy a random stock and it has a much better chance to double in price than btc when its 25k. Thoughts on this?

If you want to risk money then it is always better to invest in BTCitcoin even at this price rather than investing in random stocks Tongue

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Investing in btc with the current price really takes courage to spend your hard-earned money.
But you can always buy a small portion if you want, and just sell it at a higher price.
In crypto, you have to remind yourself about the saying spend your money what you can afford to lose.
So whatever the future will be, you should be ready for the outcome.

eaLiTy

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Quote from: jerry0 on December 26, 2020, 03:24:37 PM

Yea i know you would say... imagine btc is 50k or 100k or 300k, then what about then? Well by then, i don't even know how it would make any sense to buy it as even doubling your money would be extremely hard.

The risk is always there when you are investing at this price as the price already breached $26.6k and still moving up without showing any signs of weakness, i am just watching in awe as the price keeps on moving up as i have no idea from where these huge investments are coming in and i will stay away from investing at this price.

Quote from: jerry0 on December 26, 2020, 03:24:37 PM

For example I don't know anything about stocks but i think i rather buy a random stock and it has a much better chance to double in price than btc when its 25k. Thoughts on this?

If you want to risk money then it is always better to invest in BTCitcoin even at this price rather than investing in random stocks Tongue

.

The Wasp

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Quote from: Harlot on December 26, 2020, 04:52:17 PM

For the ones who are currently holding Bitcoin they could definitely add more Bitcoin into their portfolio but for the ones who will just catch up just about now I don't think it will be a good idea for them to do so. They are practically buying Bitcoin at a price where they don't have any safety, yeah sure there is a chance that Bitcoin might continue to go up but don't forget that there is also a higher risk that it will fall down especially if a lot of traders are preparing to flood the market with their sell orders.

How do you figure that 'there is a higher risk that the BTC will fall down'? It could go in either direction. That's been proved many times so far.

thecodebear

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Quote from: jerry0 on December 26, 2020, 03:24:37 PM

With the price of it 25k at the moment... even when its 20k... in order to double your money, you need it to hit 50k or 40k. That number still looks so far away with how much btc has went up this year. And imagine wanting to 5x your money.

Yea i know you would say... imagine btc is 50k or 100k or 300k, then what about then? Well by then, i don't even know how it would make any sense to buy it as even doubling your money would be extremely hard.

For example I don't know anything about stocks but i think i rather buy a random stock and it has a much better chance to double in price than btc when its 25k. Thoughts on this?

Two points.

1. Most investors expect less than 10% gains a year on average (stock market). "imagine wanting 5x your money"...people coming into Bitcoin for the first time would love 5x, but they would also love 2x, or 50%. They'd love 20% a year. Stocks don't often double, Bitcoin will easily double in 2021, you'd have to make a very very smart stock buy to get it to double, or you can just buy Bitcoin and be extremely likely to more than double your money in less than a year. Buying now is well worth it for anyone, price is only going to go up from here medium to long term.

2. Bitcoin is still vastly undervalued right now. $26k is nothing considering that institutions have started getting into the game the past few months. In 2-3 years it is very likely anything under $100k for Bitcoin would be a fantasy that people can only dream about, wishing they could get more at such low prices.

Harlot

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For the ones who are currently holding Bitcoin they could definitely add more Bitcoin into their portfolio but for the ones who will just catch up just about now I don't think it will be a good idea for them to do so. They are practically buying Bitcoin at a price where they don't have any safety, yeah sure there is a chance that Bitcoin might continue to go up but don't forget that there is also a higher risk that it will fall down especially if a lot of traders are preparing to flood the market with their sell orders.

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