What do you guys think? If you had a couple extra hundred laying around would you buy some BTC to sit in a cold storage wallet for a bit? The inflation has been gaining quite a few extra dollars but I know this isn't reliable...
Would it be a good idea to buy a few hundred dollars extra in Bitcoin right now with the inflation over the past week or so? I know it's impossible to tell but...
What do you guys think? If you had a couple extra hundred laying around would you buy some BTC to sit in a cold storage wallet for a bit? The inflation has been gaining quite a few extra dollars but I know this isn't reliable...
[9 Points] Oopsieshaha:
[7 Points] TheOpiateKing:
It will be 800/900usd within 3/4 weeks.
You're welcome.
[3 Points] Dicksmith47:
It could be worth $300 in a week. No one knows the answer to this question and anyone who says they do is lying
[3 Points] None:
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[3 Points] Vendor_BBMC:
Buy bitcoin just before you need to spend it unless you are a cryptocurrency speculator.
[2 Points] -gimmebrains-:
Speculation is good, but it's a gamble. The halving is coming, but we're essentially talking about gambling with stocks here. If the market is hopeful (as app always definitely should be), expect gains for a good bit.
Buy low, sell high brother. You like/can afford to gamble?
[2 Points] SamuelEdwardKonkinIV:
Rising price is not inflation.
Rising price is a symptom of monetary inflation in traditional currencies.
Bitcoin itself is a deflationary currency and a slap in the face to central banker policy worldwide.
To address your question, bitcoin is at a recent high. Highs are sell signals, lows are buy signals. But if you're looking for a long term (5-10 yr) investment, it is likely a good one.
[2 Points] YoMommaRollsMyWeed:
if you can afford the loss, go for it
[1 Points] Throughawayup:
I've put some money into Bitcoin in the past few weeks. I honestly think that it will increase in value a decent amount. Just put in enough to where if it halves you'll be okay and you can get rid of all of it quickly and easily if you aren't comfortable with the price it is at.
Edit: as everyone else is saying it is a gamble. I'm a bit more confident because I think the halving event will drive the price up a bit. But again I'm just speculating.
[1 Points] ThisIsAThrowawae1234:
Honestly I think It will keep rising and then drop when the halving happens because people will realise that the halving won't really change anything dramatically. That's just my opinion though.
[1 Points] None:
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[1 Points] Theeconomist1:
The exchange rate of btc to usd is not inflation. The inflation rate of one currency vs another will have an impact on the exchange rate, but it's the opposite of what you are saying. In fact, if you look at products on the DNMs you'll see that prices in BTC have actually lowered, not risen (of course this is Bc many vendors peg the price in Some fiat currency like USD or their local currency) thus BTC is technically deflating, not inflating (but again this can be misleading in the overall btc economy Bc of the aforementioned price pegging). If anything USD has a relatively higher inflation rate than BTC, but again, it's way more complicated than that. Inflation means your currency buys less. Your BTC is buying more in the DNM micro-economy.
If we pretend that BTC is just another currency like the USD or British pound, on a macroeconomic scale we see the purchasing power of BTC rising (which is the opposite of inflation). If you are a holder of BTC, suddenly products priced natively in USD become cheaper from your perspective. That $250 item suddenly is cheaper to you if you hold BTC. This is looking at it from an import-export perspective. This is more closer to things in the DNMs due to price pegging and hence why I added the caveat when discussing the microeconomic aspect of this. Also BTCs monetary policy is pretty much known and laid out. They have a set rate of inflation. Which is unlike a currency run by a central bank who can apply various policies to put pressure or lack of pressure on the inflation rate of their currency.
[-2 Points] None:
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Its gonna reach an all time high and then plummet down to 250