That's just it some are just 'holding' till it hits a million. Considering that will crimp supply, it has to put a floor down.
That's just it some are just 'holding' till it hits a million. Considering that will crimp supply, it has to put a floor down.Since the price of Bitcoin is basically unchanged since the same time last year, the hodlers thinking $100k Bitcoin was just over the horizon will now indeed need to reassess whether to return to their low paying service sector jobs. Depends on how much tax free government assistance they continue to receive to remain unemployed. Is Bitcoin in a bear cycle? Many chartists would argue this has been the case since November last year. But then a work colleague recently reiterated the maximalist mantra, buy, hold, never sell and you will be a millionaire eventually, LOL.
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Listened to Bitcoin evangelist Robert Breedlove make a similar assertion in an interview. The "dematerialized asset" that is Bitcoin only has limited circulation due to all the "hodlers" who, supposedly, will never sell their Bitcoin. The underlying assumption being this will not only set a floor price at some level, but eventually lead to amazing gains as in the past. A Lamborghini in the garage is only a question of patience but of course means selling at some stage. This may actually eventuate if many will not sell no matter the price movement, but I suggest that floor price is somewhere deep in the basement and after the smart money has fully existed the casino.That's just it some are just 'holding' till it hits a million. Considering that will crimp supply, it has to put a floor down.
That crypto ship has already sailed but the next port of call is the bottom of the ocean. But yes, while the unsinkable Cryptotanic is taking on water on its way to the bottom, might as well open up the crypto wallet and spend up big while you still can. But then you should never sell those block chain ledger entries because they are dematerialized digital gold.the bit coin boat has left the port, next one is due after current passengers have emptied thier wallets on the drinks package
Another method of payment is the increasing use of gold backed debit cards. Most just keep the gold on their cards though they are useful if a Fiat card is refused. I have a Tally gold backed debit card that is backed by gold held.When holding dematerialized crypto casino chips does not bail you out of a difficult position...
Cashless and flightless, Russian tourists stuck in Thailand
"Many have cash and those with UnionPay credit cards, which are issued by a Chinese financial services company, can still use them, but payment by cryptocurrency is not allowed"...
An example of how an "unconfiscatable" crypto asset (totally erroneous assertion) can easily be rendered useless such that holding good old fashioned fiat is not only preferable but necessary.
The Tally gold backed debit card looks interesting although custodial and transactional costs are not disclosed on their site. I prefer to transact with a local precious metals dealer where the buy/sell prices are updated daily and I can easily convert gold to fiat although it's not immediate.Gold-backed debit cards aren’t a necessity for most investors, but if you’d like to make your precious metal assets more liquid, they can be a useful tool.
I'm not sure if you are referring to the UK or the USA Tally cards. They are quite different companies. I use the UK Tally card.The Tally gold backed debit card looks interesting although custodial and transactional costs are not disclosed on their site. I prefer to transact with a local precious metals dealer where the buy/sell prices are updated daily and I can easily convert gold to fiat although it's not immediate.
Thanks for that Noirua, one of my sons has been interested in Tally, and I have only just started following it.I'm not sure if you are referring to the UK or the USA Tally cards. They are quite different companies. I use the UK Tally card.
Home - A
tally is a digital currency representing physical gold that protects your savings from devaluation. You can save, spend and send tally just like pounds using the app and TallyMoney Debit Mastercard.www.tallymoney.com
The card appears costly at 1% per year though I send money abroad via Tally with no charges or fees of any kind. An increasing number of companies have no problems with transfers as the amount of trading has been increasing sharply in the last 18 months.
You can tell it could be expensive if paying from dollars to euros though paying in gold is the best method. It takes awhile to understand and many people fail to spend a few hours understanding all the information before using it - quite vital as it is only too easy to screw up. It is so easy to accidentally pay in Fiat when several more patient clicks and its covered in gold. Also the above article does miss out the more complicated transactions - probably only meant for those paying in shops in various countries: On the other hand it is a money transfer article.
* I am a shareholder in Tally Limited.
Thanks for that Noirua, one of my sons has been interested in Tally, and I have only just started following it.
Have they relisted on the LSE yet?
According to the website, they were listed as LION on the LSE, but I can no longer find that code.
Appreciate your comments.
Mick
Let's see how BTC responds to rising interest rates and inflation rather than rubbing the BTC chartist crystal ball. So far, it's not looking very promising for the price of digital fiat from here.
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