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Post by rhythmmethod on Jul 6, 2021 1:59:19 GMT
At my (st)age, I have no interest at all in opening a position. If some trusted fund managers want to wade into the waters, that's fine. I'm doing just fine without any BC or similar, phone $ex currencies.
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Post by johntaylor on Jul 6, 2021 13:49:04 GMT
Didn't always take his advice, but one uncle (patent lawyer) used to say: "Instead of investing in a new company you don't understand, look in your checkbook for extra money to put into a company you do understand."
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Post by bb2 on Jul 7, 2021 21:24:27 GMT
Musings.
You know, I keep reading about BTC because there's a small part of me that's wondering if this thing has achieved life. Gold has a long history of monetary use but the incredible interest in crypto is undeniable. Sure it's hyped and I have trouble getting beyond the promotional videos sent to me by my non-tekkie BTC friends years ago that contained nothing but pure sell, sell, sell. There was an overwhelming feel of religion about it. Even now, when a BTC bull speaks, it's just pronouncements and promotion because there is nothing else to it but pure speculation. Gold really isn't that different but for the history.
Crypto algorithms continue to evolve for the better, which may someday make it easier to obtain and even slick enough for actual monetary exchange transactions. Been reading about POS (Proof of Stake) v. POW (Proof of Work) today. POS isn't new but now that energy use has become an issue, it's being adopted more. You get rewarded by committing more crypto to the constant blockchain authentication effort rather than applying processor cycles to solving a math problem. Not sure yet if it's as robust a consensus method or not. (Way to assure the blockchain is correct, basically.)
I know computers and software fairly well and that too has kept me on the sidelines. I don't trust them. Software needs to be carefully engineered and too often that doesn't happen. I need to do more work on it; get out my old notes.
Gold market cap is about $9.3 T. M2 is 20T. BTC has been to 1T. 650B or so now.
I stink at technicals even after studying the doorstops by Pring and Edwards and Magee so, like richard, there's not enough interest or energy left for trading it. So, dabbling will have to be a hold, even beyond a swing.
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