Cryptocurrency (13 Viewers)

[Nzoric]

The bigger pattern I see is all of the libertarian promises of it are being peeled back to more closely emulate the old world money system, because many of those mechanisms are there for good reasons.

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Buy on AliExpress.com

[Cerval]

This is proving a worse hedge than I had hoped for.


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Thats because you got in recently, in March 2020 BTC was trading at 5k during the start of the pandemic.

Btw iirc you went into Cardano, if I were you I'd leave that dumpster fire asap

 

[Nzoric]

Thats because you got in recently, in March 2020 BTC was trading at 5k during the start of the pandemic.

Btw iirc you went into Cardano, if I were you I'd leave that dumpster fire asap

I think youre misunderstanding me a bit - I thought it would be a better hedge against investments in stocks. As in, stocks go down and crypto stays level or even goes up. Its obvious to me that a bear Stock market more or less equals a bear crypto market.

I got out of Cardano with a pretty good %. Sol, Mana and LRC payed off nicely too. But I dont see eth or btc as somewhere I’d park my money atm. I might be wrong tho?


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[Cerval]

I think youre misunderstanding me a bit - I thought it would be a better hedge against investments in stocks. As in, stocks go down and crypto stays level or even goes up. Its obvious to me that a bear Stock market more or less equals a bear crypto market.

I got out of Cardano with a pretty good %. Sol, Mana and LRC payed off nicely too. But I dont see eth or btc as somewhere I’d park my money atm. I might be wrong tho?


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Yeah agreed its pretty much coupled with stocks at this point. Good job on leaving cardano

Up to you for BTC or ETH, they are safer bets. In my opinion, its easy to be put off by their market caps but they still have margin for growth. For me they're my preferred investments usually. @lgorTudor could chime in

 

[AFL_ITALIA]

The best thing to do at this point really seems to be just hold piles of cash. But even then, you lose out to inflation so maybe not.

 

[Siamak]

Yeah agreed its pretty much coupled with stocks at this point. Good job on leaving cardano

Up to you for BTC or ETH, they are safer bets. In my opinion, its easy to be put off by their market caps but they still have margin for growth. For me they're my preferred investments usually. @lgorTudor could chime in

Continuing war between Russia and Ukraine pushes up the price of bitcoin, i guess.

 

[Siamak]

The best thing to do at this point really seems to be just hold piles of cash. But even then, you lose out to inflation so maybe not.

I tried many times to exchange bitcoin to cash but it's complicated and frustrating just to transfer my Bitcoin back to a national currency. I still don't want give up and looking for a way. would be appriciate if someone point me out.

 

[Quetzalcoatl]

I tried many times to exchange bitcoin to cash but it's complicated and frustrating just to transfer my Bitcoin back to a national currency. I still don't want give up and looking for a way. would be appriciate if someone point me out.

Find someone who wants bitcoin and has a wallet and exchange your coin for cash.

 

[Siamak]

Find someone who wants bitcoin and has a wallet and exchange your coin for cash.

finding a reliable person is difficult. I actually don't have anyone who interested in cryptocurrency around myself. Internet is too unreliable to trust in someone. I don't want to lose my money to scammers.

 

[Quetzalcoatl]

finding a reliable person is difficult. I actually don't have anyone who interested in cryptocurrency around myself. Internet is too unreliable to trust in someone. I don't want to lose my money to scammers.

Sounds like you'll have to hold on to it until an opportunity to sell arises. The consolation is it will likely be worth more in the future.

I'm assuming you don't have access to online exchanges due to your location.

 

[Siamak]

Sounds like you'll have to hold on to it until an opportunity to sell arises. The consolation is it will likely be worth more in the future.

I'm assuming you don't have access to online exchanges due to your location.

I can find a way around it. but as you said, it’s difficult to access and pay through PayPal, Master card and etc when i'm in Iran, but still there are some companies which can help me and provide money exchange and transfer services in Iran.

 

[Quetzalcoatl]

I can find a way around it. but as you said, it’s difficult to access and pay through PayPal, Master card and etc when i'm in Iran, but still there are some companies which can help me and provide money exchange and transfer services in Iran.

So that's your solution then?

 

[Siamak]

So that's your solution then?

unfortunately they don't exchange bitcoin with cash.

 

[Quetzalcoatl]

Bitcoin just does not want to pass $45,000

 

[Cerval]

Bitcoin just does not want to pass $45,000

Thought you would be discouraged by now. For better or worse, looks like you sticked.

 

[Quetzalcoatl]

Thought you would be discouraged by now. For better or worse, looks like you sticked.

If it fails, it fails but if takes off then great. Buying a little occasionally is low risk, potentially high reward if you ask me.

Also I hope (maybe naively) that decentralized finance is the future, whether Bitcoin is a part of that or not.

 

[Cerval]

If it fails, it fails but if takes off then great. Buying a little occasionally is low risk, potentially high reward if you ask me.

Also I hope (maybe naively) that decentralized finance is the future, whether Bitcoin is a part of that or not.

Yeah same, I have that approach as well.

 

[Dostoevsky]

Bitcoin just does not want to pass $45,000

I think chances are high of the increase as soon as economy starts to collapse. So quite soon (this year).

 

[lgorTudor]

I think chances are high of the increase as soon as economy starts to collapse. So quite soon (this year).

I don't believe in the 'BTC as hedge against recession'-narrative for a second anymore. Crypto is highly correlated with stock indices these days. The bullish scenario for crypto is identical to the bullish scenario for stocks. If you believe in a global economy collapse, cash out into some CHF stablecoin and buy the dip.

 

[Nzoric]

Bitcoin just does not want to pass $45,000

Best counter jinx


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