Crypto blockchain companies

Absolutely it’s appreciated. But for literally no reason other than being self propelling.

Here’s where utility comes in though. Take the classic store of value, gold. For one it has scarcity, but it is also needed in much of the technology that we use. Likewise with other precious metals. As long as it has that utility, it’ll be fine. Bitcoin just doesn’t have that.

Also it’s unique in the sense that it is playing judge, jury and executioner. Bitcoin created it’s own utility and is essentially saying “my utility is the fact that Bitcoin can be transferred on the Bitcoin network”. Well, great, but nobody wants to get paid in something that volatile. Not to mention that it is totally unnecessary. All the major financial players are doing research into blockchain so it could be the case that dollars, pound etc will be transferred on blockchain, killing Bitcoins utility.

I know very little about crypto I’ll be completely honest.

I’m curious though, if this gain some legs and become less volatile and can be used in the future for an “every” currency, for say groceries etc; is there a risk that Uncle Sam will want his slice of it? This, defeating the decentralised ethos that Bitcoin currently has?

I just can’t see how governments wouldn’t get involved in some fashion if they aren’t getting VAT etc off of items if it’s widely used.

EDIT: it just seems to be used as an asset at the moment and another thing to trade.

HMRC details it’s view of CRYPTOASSETS; with a little more research and less baseless opinions retail investors would be able to appreciate BTC, it’s utility and the opportunity (but all I see is armchair experts who are in reality noobs doing a lot of misleading commentary):

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I come in peace and have never claimed to be an expert either.

Nonetheless, thanks for the link I’ll give it a read :ok_hand:

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I assume this is directed at me. Out of curiosity, what are your credentials that make you an expert?

I currently work for a financial company, and previously worked for a tech company which did R & D in blockchain. I’m not making baseless claims or giving baseless opinions!

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Sorry but I just can’t take you seriously after this:

:roll_eyes: I’ll take that response to mean ‘zero credentials’ then.

All you’ve proved is claimed “credentials” don’t correlate with understanding, but again let’s agree to disagree on this whole topic of Bitcoin and move on :sob:

I’m just showing you that what I’m saying is not unfounded but from a professional and academic stand point. I’m just curious as to what your credentials are that make you an expert is all!

And I’m still waiting to hear from any user a good reason why Bitcoin is a sensible investment and one not driven on nothing but hype. Nobody can provide one! I’m open to being converted!

Anyway, bottomline because tomorrow is a new day and I’ll be damned if I’m picking this back up:

I really like blockchain; and I really enjoy making money and want all users on this forum to do so as well. I don’t like gambling however, and investing in Bitcoin is exactly that. Between this thread and another, we have determined for various reasons why it is not a store of value and why it has no meaningful or useful utility.

My take-home point that sparked all this off is that it is not rational investing. If you’re happy with that, great. You may get lucky and make some more cash. Even in that event I’ll sleep happy knowing that I didn’t gamble my cash. Hopefully some other users will read this and understand the same.

And lastly, I probably will buy and sell Bitcoin again in future, as it is so volatile it is good for day and swing trading.

Speak for yourself. You have determined; I agree with nothing you’ve said which is evident from the above discourse.

All conclusions based entirely on your comments and our discussion above. I’m still open to be given (at this point) literally even 1 reason why it is a rational investment! Oh and still curious as to your credentials btw :wink:

No utility, no store of value. Purely speculative and hype driven. Therefore not a rational and sensible investment instrument. If you do invest and it goes up, well done. I don’t gamble however. If i can be told otherwise I’m all ears!

One shared from another user

Yet you TRADE Bitcoin :man_facepalming: while getting ripped off by Coinbase and Bitstamp because your newbie self with supposedly great “credentials” didn’t even know about Coinbase Pro nor Binance would be an order of magnitude cheaper. I honestly can’t take you seriously at all.

Yes. In the past I have rode the trend up or down on a given day to make some cash, as I’ve been saying all along. I wouldn’t invest long term however as there is no reason to, i.e. gambling.

Im sorry but I really don’t understand your point. What difference does it make if one buys on a given platform? How does that negate ones understanding and experience in a field and in a technology. That seems a bit straw man to me. Certainly clutching at said straws. I’mstill waiting to hear your credentials that make you an expert in the field of blockchain or finance.

Also the floor is open to all at this point. Can somebody please give me any reason that proves me wrong as to why Bitcoin isn’t a rational and sensible investment choice. My mind is wide open to change, I’d love to have more instruments to invest in. I have absolutely no vendetta against Bitcoin, what I’m saying is the result of research and further compounded by discussions such as this!

You’re a walking contradiction. Your argument against BTC is that it is speculative “gambling” and not ‘investing’, and yet in the same vain you engage in speculative short term trading which is proven to have lower expected returns for the average investor and is basically gambling :slot_machine:

And besides we’ve been over this, holding BTC long term has only ever yielded positive returns:

Can you not read?! It undermines your supposed credibility quite frankly. You claimed experience and years in the space, yet you fumbled on the most basic of things which resulted in you being charged an order of magnitude more for your trades than necessary. Only noobs make those mistakes not seasoned market participants like you claimed to be.

Also, you’re the only one who brought up credentials as if they confer any more value to your argument. It’s the content of what you say that matters not how big you think your balls are and the content of your discourse has been weak, circular and anchored in bias.

There’s nothing irrational or not sensible about allocating 0.1% to 5% of a portfolio to BTC, even if nothing more than a hedge. It’s a recognised emerging alternative asset class.

So nobody need prove or disprove anything to you.

Not quite! I engage with CFDs and the invest side of the platform. You can apply the same DD to CFDs as you would Invest. 90%+ trades in 2020 were green so either I’m extremely lucky or it is not gambling :wink:

Again, not quite. You said I was giving baseless opinions. I was just pointing out that I come from a professional background in financial services, and previously a professional/academic background in engineering/science for blockchain. Just saying I do have some merit in both fields so its more than just opinion!

I absolutely agree. You should always have some money set aside for speculative plays. It still doesn’t make it a logical or reasonable investment and anything more than gambling! Nor does it give it status as a store of wealth, or any functioning utility! That is not an opinion, it is truly fact. I’m not sure why you can’t see that. I’m waiting for reasons to prove me otherwise and again, am totally open to being proven otherwise. I want to be proven otherwise!

I rest my case.

Your background (non-specialist) adds little to the credence of your written statements in this forum (nobody gives a shit about our “credentials” - that’s the beauty of pseudo-anonymity, the playing field is level) and for anyone knows you could have been bottom of your class and a poor performer in your job riding on the coattails of others
.
Simple Point, Evidence and Explain is all that matters and you’re lacking solid points and even more lacking evidence to support them.

Opinion. There are smarter people/institutions (HMRC included) than you or I with actual influence in the world who disagree with your position.

You literally didn’t give a case :smiley: !!!

If I was to state my case any more clearly I’d most likely get a warning from the mods mate :joy: