Bitcoin

33k wtf

What's the top?

I think it was a lot of great information, but I still need to take small steps!

In what time frame? Some are saying 1M within the decade using multiple metrics. Consensus seems to be building between 120k and 200k by the end of next year. These are not cranks saying this. A number of quantitative analysts including J P Morgan see these numbers as reasonable.

Then again the US and/or other major governments may decide to try and regulate the retail and institutional portion of the crypto ecosystem which could take the steam out of any bull trend at any time.

I tried for one week bitcoin

Is it really a good time to buy and invest in Bitcoin?

I’m thinking about cryptocurrency but I don’t know much about it would it be better to go the Stock market way?

That depends on a lot of things. How much will you buy? If less than 2% or your net worth or less than 5% of your liquid net worth then that is probably fine. What is your time horizon? If you're looking for a quick profit with a low risk of loss then no. If you are willing to loose 75% of your initial investment but can wait a few years for it to recover and increase by a factor of 5 to 10 then maybe. The best thing you can do right now is research.

Is it really a good time to buy and invest in Bitcoin?

Even though it's at an ath everyone predicts it will keep rising. I've been dca into it and earn 5.5% interest.

um yeah I’m at a lost but I did read a lot of good information thank you guys

My thing with bitcoin, and cryptocurrency entirely, is this. Get a few different wallets, different wallets do and hold different assets.
Personally, I don't use peer to peer exchanges, I'm not experienced with them at all. I like regular "stores" like CoinBase.
Variety; have the big baddies like BTC, ETH, LTC, but also rack up on those cheap coins that are kinda pushed aside. Coinbase often has "learn and earns" to learn about different coins, and earn it while you learn it. It's really helpful especially if you're new.

PS; know your laws

I've heard Bitmo a lot especially lately but don't quite understand it and am wary of it. I've heard of people being scammed using it so I'll stay away.

I don't trust bitcoin and don't see myself investing in it.

I'm tempted to buy some via PayPal as a hedge against the government's crazy spending ruining the dollar. But the value shoots up too fast and it can go down too.

Naila K. - If you have not done much research on cryptocurrency in general and BTC in particular you probably should not invest right now. If you have done some research I am interested in your reasoning if you care to share

David B - It can and will go up AND down. The question is by how much and over what time frames. BTC and ETH represent, according to the majority of analysts, one of the largest asymmetric risk/reward opportunities right now, meaning the upside magnitude AND probability is many multiples of the down side magnitude and probability.

IOW, by a number of metrics, BTC is much more likely to quadruple or more over the coming few years than go to zero. If China's attempts at containing BTC have failed as they have so far then that tells you something about the strength and future of this decentralized store of value.

I don't trust bitcoin and don't see myself investing in it.

Take a look at stablecoins instead like usdc.

The main function of a stable coin is to facilitate transactions and remove variation in value. Those seeking to invest in cryptocurrency would not use stable coins except as an intermediary to some transaction or temporary "dry powder" waiting to be invested.

The stabilization mechanism is typically a central body that holds the base element the coin is tied to in reserve, most notably fiat currency such as the USD for USDC. This voids the strength of cryptocurrencies implemented on decentralized networks (which have no single failure nodes - taking down the entire network is many orders of magnitude harder than a single centralized reserve) and subjects the coin to the same loss of value risk as the fiat or other underlying it is tied to.

Using other crypto to collateralize the stable coin involves potential costs that diminish the value of the crypto (which trades value for stability) and still has the risk of a localized failure vulnerability.

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Is it really a good time to buy and invest in Bitcoin?

While I'm not an expert this recent correction has been a buying opportunity for me.

I'm avoiding Bitcoin itself and focusing on Litecoin and Bitcoin Cash with funds I got from free eGift cads. I wouldn't bet the farm but long term you'll probably kick herself for not buying at least a little now.

Bit coin has had a short life so far for those who got in early, and did not panic on the down turns it has done well. Those that bought when it was high and panicked when it dropped, selling at a loss it has been a tragedy. For those that lost control of their bitcoin wallets, it is a heart felt loss, that is non recoverable. So be aware and study well before taking the gamble.

If you have a long range plan then you should be super excited about this recent drop as you will be able to accumulate a promising asset at a bit of a discount. If you have no idea how it works and you are just speculating that it will go up from the time you buy in and won't get cut in half then you are not investing but gambling and should look elsewhere. Put your money in savings or a short term CD while you do your homework if you still want to put funds into crypto.

Take your time. Know the risks. Some are big but improbable. Some are small but maybe inevitable. Two name two in the former category …

1) Quantum computing breaking encryption protocols.
2) Two thirds of the hash power concentrated in China, a country whose government looks unkindly upon BTC or any crypto it does not control.

These are threats that could send BTC to zero someday but, both are unlikely if you dive into the details. There is no substitute for doing your own research.

I'm tempted to buy some via PayPal as a hedge against the government's crazy spending ruining the dollar. But the value shoots up too fast and it can go down too.

It came down lately. There are definite advantages to going through PayPal.

The downside is you can't use the PayPal cryptocurrency to make direct purchases with merchants at this time. You have to sell a portion and pay using PayPal.

OTOH you won't lose the little slip of paper like a coin machine gives and won't be locked out of your funds because the hard drive died.

It appears to me like the cryptocurrencies are trying to go higher this weekend but who knows what tomorrow will bring.

My suggestion is dollar cost average with smaller amounts like $24.99 at a time on PayPal over time.

Do not ever sink your last dollar into ANY investment no matter how convinced you are that it will rise. You can also be wrong!

Only time will tell whether now is/was a good time to invest in crypto currency. Are we investing in go!d when it first went public or in tulip bulbs during the mania?

It sounds like there is a trading mentality ITT when it comes to crypto which is fine but don't confuse that with investing.

Is 60k BTC too high? Not if it is going to 250k in the medium term and 1M+ within the decade. Can it get cut in half or to one-quarter? Yes but that is becoming less and less likely. Bayesian probabilistics is skewing to the upside.

Look at holding times since inception. Read all the arguments of the best known critics who have made predictions of valuation for dates in the past 7 years. If you know history you will realize this is phenomenon is not tulip bulbs.