$Grayscale Bitcoin Trust (GBTC.US)$ I know all these guys ar...
$Grayscale Bitcoin Trust(GBTC.US$ I know all these guys are wondering whether cryptocurrency is a good investment or not and me personally I don't trade much crypto but I put in some work to give you guys some answers now currently cryptocurrency is the only commodity out there that actually has a finite definitive amount set to it nobody knows how much gold is in the ground or that goes for any other commodity but Bitcoin we know exactly how much is in existence there is 20 million bitcoins in existence now they have an inflation rate of halving every four years which will produce more but currently there is already 18.5 million bitcoins purchased on the market which leaves only one and a half million bitcoins left that could be purchased for the next three years so they as investors look at Bitcoin as a hedge towards inflation with Biden coming in the office everybody is anticipating a large expenditures from the US reserve which is going to cause inflation price of debt to go up and the US dollar to weaken so investors are looking for an alternative to hedge their portfolios in order to not be fully exposed to the mass spending our government's going to be doing now every time Bitcoin has halved it has Rallies for the entire year following May of last year and was the most recent one so with the mass majority already in circulation and very little Bitcoin left to be purchased it's causing the cryptocurrency to skyrocket anticipation of more stimulus spending is only making it more so so I hope this guy's gives you some information that helps according to everything I've researched Bitcoin could hit $100,000 this year it would not surprise me at all more likely to float right around 55 to 60 by the end of 2021 before it drops again but as you know that it's very volatile so either you're going to be a long-term investor or traded like the forex market either way I'm not going to be buying any cryptocurrency personally but I hope this helps you out
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pennypincher : good information!!!
Lou Blacksail : Great insight at usual! In an earlier post you mentioned Castor Maritime, what do you think will happen to it? I may want to buy over a hundred shares for a nice quick profit. Think it is due for a short squeeze soon?
knowledgeispowerful OP Lou Blacksail : the reason cash and Maritime is significant is because oil prices are starting to go up with inflation going up as well that means all the bonds that are being sold are going to sell for higher premiums but it's going to help out the companies that are struggling because they're going to get bigger amounts for their bonds with it and return is going to bail them out of the jams they're in now a lot of these oil companies or rate companies are on the brinks of bankruptcy so this is needed
knowledgeispowerful OP : and right now with Biden taking office everybody realize that's a big significance because they believe in what he says that he is most likely going to try to control the environment whether it's shut down the economy or just restrict it but in the end it's for the better of the nation and by doing so it's going to recover much faster because it was taken care of properly and with that said that means people are going to go back to work people are going to start driving more and most certainly these oil companies that are so undervalued are going to go back up the electric car industry it's a great investment for long-term but we're still 20 to 30 years away from never needed oil again they most certainly will get back to normal even if it's only for a short period of time so if you don't mind holding it great opportunity to buy at a discount if you don't mind waiting it out
OldNormanBates : good information thank you
treydongui : thanks man a great perspective from an alternate point of view. that's always appreciated
Mathew Midcap : Bitcoin in it's current state is an absolute mess.
It can handle only 7 transactions per second and the fees to make transactions are astronomical because there's so many transactions in the mempool at any given time (so miners will only work on the transactions which offer the best rewards).
As far as I'm concerned, unless Bitcoin changes to a Proof-of-stake protocol, I think it's dead in the water and will eventually crash hard when another crypto with real world utility and scalability steps up and takes it's place.
Keep these things in mind if you're planning to hold long term! the people buying and driving up the price may not be aware of the limitations!
It would conservatively need to handle 2,000-5,000 transactions per second to keep up with the average workload that credit cards currently have, and that's not even during peak hours.
Not to mention the time, computation, and electricity costs that mining requires.