Bitcoin biting the dust?

TSwizzle said:

Gospel said:

TSwizzle said:

Bitcoin hit a new high of $98k. November last year it was around $35k. Nice little earner.

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Inflation is Bitcoins Spinach. Everyone herp derps over to crypto when they're seeking to hedge against inflation and other market woes. Whether it works or not is a different argument I'm not making.

Edit and by everyone I mean the people who invest in Crypto.

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I don't think that is a good strategy. One could suffer very significant losses in a matter of days. I wouldn't consider buying Bitcoin at the current price.

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Wiploc said:

Warren Buffet says not to buy things we don't understand. Almost nobody understands Bitcoin.

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TSwizzle said:

Wiploc said:

Warren Buffet says not to buy things we don't understand. Almost nobody understands Bitcoin.

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I think when it comes to investing Buffet is probably right. I don't understand Bitcoin but I still bought a little bit and made a little bit of money, about a $4k profit but there is no way I would invest a large amount of money in Bitcoin. I just like to dabble with money I can afford to lose. I have tried to understand what Bitcoin is all about and read a number of articles by "experts" but I am not convinced they understand it either.

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Jimmy Higgins said:

TSwizzle said:

I don't think that is a good strategy. One could suffer very significant losses in a matter of days. I wouldn't consider buying Bitcoin...

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There is no known basement for Bitcoin. It could get up to $500k in 2 years... or be $15.91 in two years. There is no safe price to buy Bitcoin... at least, not without insider info.

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