Back in 2018, I first read all about bitcoin. At that time it was only about $7k. I coulda bought some, but at that time it was still pretty new and not a safe bet at all.. not like now. I kick myself for not loading up on BTC at that price, but.. its never too late.. in fact, NOW is that perfect time IMO. BTC has survived the test of time and is here to stay!
(img from pixabay)
We even got a prez.. that is, the usa prez, who, despite doing 99.999% of things wrong IMO, is PRO crypto and it seems the rest of the world has also given in to the fact that crypto is a thing now and there's no fighting it anymore.
BTC, is by far the most held and biggest crypto there is now and it will most likely stay that way. I was still on the fence after trying before to invest in crypto, only to see my large amount (for me anyways) turn into a small amount within a pretty short period of time. Luckily, I had the sense to move it all into HBD, so I didn't really lose much on that.
Now, it is a different story. Sure, price of bitcoin is way more, but the potential is nowhere close to where it'll be in the future.. (if there's even a end price at all) So, the way I see it.. BTC is just like online gold, but even better for several reasons. Watch this presentation on it from this year's Hivefest..
(presentation starts at 48 minutes into vid)
One thing I DIDNT want to do was have to buy btc on an exchange and hold it in some external usb drive and have to safely store that somewhere like it were a bar of actual gold. I did some research and found out how I could easily but some, in a form that I could easily get AND have it kept for me.. all online.. or in a place that I'm sure is at least 1000 times more safe and secure that anything I could personally come up with.. my broker.. a little company known as Fidelity. and the bitcoin is not really bitcoin directly, its an ETF.. called ibit.
I plan on adding to this every month and eventually getting to 1 or more bitcoin..
:)
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You reminded me that I want to watch some of the hivefest presentations; I hope to get to that soon.
Bitcoin ETF
On a Bitcoin ETF - that can work out, as long as there is not much of a premium cost to buying the ETF over just owning in in your own wallet where you control the keys, for better or for worse. You have assessed your interest in controlling your own Bitcoin in a wallet and chose the ETF route which is certainly legit.
Trump and Bitcoin
On Trump support of Bitcoin and crypto, I agree.
He uses his prestigious office to talk about Bitcoin in a positive light. No other president has done this. Since Trump won the election with a majority, there is the sense that these supporters of him will be open to buying Bitcoin when they hear him talking about it.
Trump is in support of legislation that clarifies the rules and regulations on Bitcoin and other crypto. This causes people to be more comfortable with buying Bitcoin.
Trump did not sell any Bitcoin the government held from previous legal actions in which it acquired it. This decreases sell pressure that would have been there from US gov sales.
Trump and his family hold Bitcoin and other crypto. They have made a ton of money from it, and have a new business set to make more money. One can read about that here: https://decrypt.co/344663/trump-family-already-made-1-billion-profit-crypto-eric-trump Therefore, Trump will probably take action in the future to keep the price of Bitcoin and crypto high and rising over time.
I'll mention @dresearch here, since they asked some great questions in their reply to you! Maybe this answers some of that, or at least provides a starting point for further research and discussion.
NFA! DYOR!
This is Not Financial Advice! Everyone needs to do their own research before buying any risky assets.
1.Why did he speak positively?since ordinary people had lost all their money, everyone wanted the price of bitcoin to go up so they could make a profit and recoup their losses, who should have voted for him to become president?ordinary people!what should have been said to make ordinary people, even those who did not know trump, vote for him? It is true that the best thing to do was to speak about something that everyone knew what it was but was in a loss and recession.why does he still speak positively because he has to speak positively, that the trust of the people is important for the republicans (next term).
2.Laws and regulations are exactly against bitcoin.do you remember when bitcoin first started?why did it go up in price back then?do you think it was used for simple, regular buying and selling?absolutely not!now you say that supporting laws and regulations is good for transparency, that’s what weakens it.everyone has converted all their money into cryptocurrency to hide its value, from ordinary people to criminals.remember those ridiculous NFTs that sold for millions of dollars? Weren’t they money laundering and tax evasion? If cryptocurrencies were transparent, they would have no value.
3.Do you know trump and his family and friends?do they even need bitcoin?do they even need to sell their bitcoin?the money they have...!then you say they started a new business with this?do you even know the trump empire?do you know how much capital he has! New business!!!!!!!!
4.He didn't sell any bitcoin from the previous administration because its price hasn't reached where he wants it to go yet.when your country's biggest bank debtor is, you have to sell it for the highest possible price.
A question, suppose you have a lot of trust in me👨⚕️🤚, at one time I have benefited you, after a while I will tell you, there is a deep well a little ahead, jump into it!
Will you jump?
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Well, is it enough that the us president supports it?if the price drops,can you tell him why it dropped?what will he say?can you explain the future potential further? How can something without backing (of course, the backing is words and support) have future potential?
i think, at this point, btc will never drop to 0 so it is safe to 'gamble' on. with that said tho.. don't use money u cant afford to lose buying it. just extra, extra money u can spare for investment.
Yes, it will not reach 0.
Gambling!don't you think there are faster and better ways to gamble?
I don't think there is anyone in the world who doesn't need their money (even a small part of it),
your statement is contradictory, investing is different from gambling, and the money invested in each of them also performs differently.
😉 true.. i guess gambling is the wrong term here.. how bout speculation? and yea.. money is in short supply much of the time, so ppl try and increase it how ever they can.
I remember 6 years ago, because I had a small amount of money,i would enter the market with $30 every time (Forex). In fact,i would gamble every time and finally, at the end of each month, I would see that I only lost money in the end.
These markets are so smart (because they are managed by smart people) that they do not leave room for gambling.
In fact, whenever anyone tries to increase their money in any way,they end up losing money.this is my 9-year experience.
FX u say?? :P i tried that for a few years.. lost a bit. problem was, i MADE a few hundred at first using an EA and that got me hooked.. oh well, it was a paid tuition i guess, for how NOT TO do it.. :P
So you were also in Forex,it's good that I found a friend like me here 😅we both paid tuition.👨⚕️👍