Respectfully disagreeing with Leo about Crypto

[Leo Gura]

49 minutes ago, FourCrossedWands said:

Also, there will be flying cars 😂

Last decade gold vs bitcoin.

It's sort of like you're looking at the graph of Kodak film vs digital cameras in 1999.

If Bitcoin already had a massive graph vs gold, then it would already be too late to invest. The whole point of investing is to get in early, before it becomes obvious.

Edited March 13 by Leo Gura

[FourCrossedWands]

3 minutes ago, Leo Gura said:

It's sort of like you're looking at the graph of Kodak film vs digital cameras in 1999.

If Bitcoin already had a massive graph vs gold, then it would already be too late to invest. The whole point of investing is to get in early, before it becomes obvious.

The graph was supposed to show how statements like "Bitcoin is replacing gold" are delusional.

[Leo Gura]

1 hour ago, FourCrossedWands said:

The graph was supposed to show how statements like "Bitcoin is replacing gold" are delusional.

The statement is that Bitcoin will replace gold over time. Your graph does nothing to contradict that.

Edited March 13 by Leo Gura

[FourCrossedWands]

9 minutes ago, Leo Gura said:

That statement is that Bitcoin will replace gold over time. Your graph does nothing to contradict that.

I am not sure about that, because every year, more money went into gold than into Bitcoin and there is no reason why it should change in the future. In the last year, about 2 tril went into gold and 1 into Bitcoin. I don't think we will live long enough to see crypto overtake precious metals.

Edited March 13 by FourCrossedWands

[Leo Gura]

5 minutes ago, FourCrossedWands said:

In the last year, about 2 tril went into gold and 1 into Bitcoin.

The last year saw an epic crypto bubble crash, market crash, and record high inflation. It's no surprise that gold was popular.

In 10 years the situation can change radically. So I wouldn't worry about not living long enough. There will be huge shifts happening in the next 10 years within tech.

Edited March 13 by Leo Gura

[BlessedLion]

6 hours ago, Leo Gura said:

That is beyond my expertise.

Nobody is in control of these vast systems. So my general policy is to not worry about the economic system as a whole. Worry rather about your own finances (which is what you can control).

Seems like yes. Lots have tried to supplant Bitcoin and none have come close. If anything, the last crypto crash shows how full of shit all the other coins are and how solid Bitcoin is. If Bitcoin was BS, it should have died in the last crash. The fact that Bitcoin has rebounded to an all time high after such a bad crash is a very good sign for Bitcoin maximalists.

I think there is a very good chance that Bitcoin will replace gold. Which is why I invested in it. Admittedly, this is speculative and risky, but it's not a crazy bet.

Agreed. Bitcoin is a beast

[Dodo]

12 hours ago, Leo Gura said:

Could happen, but Bitcoin could just as likely replace gold long term. Despite all the shitcoins out there, Bitcoin is still quite unique. What needs to happen is all the shitcoins need to die, leaving only Bitcoin.

Just like different vehicles, we need the altcoins for different purposes. You cant just have a family car, you need racing cars, you need trucks that can carry a large load, you need all sort of different type of vehicles for it to best serve humanity. 

There is no universe in which altcoins die and bitcoin remains. 

[Leo Gura]

5 minutes ago, Dodo said:

There is no universe in which altcoins die and bitcoin remains. 

There will be a few altcoins for specialized purposes, but not as the main store of value.

[Dodo]

7 minutes ago, Leo Gura said:

There will be a few altcoins for specialized purposes, but not as the main store of value.

You should check out creator of Ethereum, people put their money on anything he touches. 

The guy tweeted that solana is a good project and singlehandedly revived it from 8$ it is now 150$.

Altcoins will rise and fall more than bitcoin, creating bigger volatility, but they will keep trending with btc. In the bull markets they will be better than btc, in bear markets they will be worse. Everyone can decide for themselves

[Leo Gura]

24 minutes ago, Dodo said:

You should check out creator of Ethereum, people put their money on anything he touches.

I could not care less about these crypto bros or anything they say.

Edited March 13 by Leo Gura

[PenguinPablo]

16 hours ago, Leo Gura said:

It's sort of like you're looking at the graph of Kodak film vs digital cameras in 1999.

If Bitcoin already had a massive graph vs gold, then it would already be too late to invest. The whole point of investing is to get in early, before it becomes obvious.

eh but even with this viewpoint sure you would not have 100x your investment 

but would still have easily 2x 3x or even 4x since 2022

[OBEler]

@Dodo what do you think about which altcoins will make it too? 

[Dodo]

6 hours ago, OBEler said:

@Dodo what do you think about which altcoins will make it too? 

well the ones im currently buying, XRP (big fud around it, giving me chance to enter) ETC - the OG ethereum and Gala which is a low cap gaming coin 

 Below is chart of xrp current price vs BTC and its at all time lows. Thats where i place my chips. 

Edited March 14 by Dodo

[Dodo]

23 hours ago, FourCrossedWands said:

The graph was supposed to show how statements like "Bitcoin is replacing gold" are delusional.

Email does not replace mail, it has different purpose.

i can show you the graph of gold against btc price, but you probably dont want to see it. Hint, gold is losing and looks like an exit scam on that chart, trending down down down. I get it has a huge marketcap, exactly why im buying crypto not gold. 

 

[FourCrossedWands]

26 minutes ago, Dodo said:

Email does not replace mail, it has different purpose.

i can show you the graph of gold against btc price, but you probably dont want to see it. Hint, gold is losing and looks like an exit scam on that chart, trending down down down. I get it has a huge marketcap, exactly why im buying crypto not gold. 

 

In which reality gold is going down? Certainly not in mine because I own gold and it has been a good safe investment so far. Better than dividend stocks or saving accounts.

[Dodo]

19 hours ago, FourCrossedWands said:

In which reality gold is going down? Certainly not in mine because I own gold and it has been a good safe investment so far. Better than dividend stocks or saving accounts.

In the current reality, Price of Gold vs price of BTC is on a downtrend as seen in this chart, ever since BTC inception. I cant even show the top there because the current price action will not be seen and its gearing up for another leg down, ready to collapse to 0. 

[FourCrossedWands]

6 hours ago, Dodo said:

In the current reality, Price of Gold vs price of BTC is on a downtrend as seen in this chart, ever since BTC inception. I cant even show the top there because the current price action will not be seen and its gearing up for another leg down, ready to collapse to 0. 

Collapse to zero? You guys are very funny 😊 It's like saying food is going to collapse to zero.

Gold is gods money and a very useful commodity. It has been here since the beginning of times and will be long after we are all dead.

No man-made gimmick can simply replace it.

Humankind will always come back to gold because it has been the only constant during wars and depressions.

Edited March 15 by FourCrossedWands

[Dodo]

18 hours ago, FourCrossedWands said:

Collapse to zero? You guys are very funny 😊 It's like saying food is going to collapse to zero.

Gold is gods money and a very useful commodity. It has been here since the beginning of times and will be long after we are all dead.

No man-made gimmick can simply replace it.

Humankind will always come back to gold because it has been the only constant during wars and depressions.

im talking about gold price being 0.000x btc, it still might be bullish, but bitcoin can rise massively in comparison. The reward is worth the risk in my view. 

Edited March 15 by Dodo

[Jehovah increases]

Gold is better than dividends? 

[Leo Gura]

@FourCrossedWands This is you: