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Ask HN: I have 1 BTC, what can I do with it?
Besides hoping that other people will also buy bitcoins and raise the price
- phanindra_veera 6y agohodl
- sksking 6y agosell it as soon as possible..dont wait for more price
- noemit 6y agodepends what else you have tbh. are you broke? sell it. is this 1-4% of your portfolio? dont worry about it
- st1x7 6y ago> Besides hoping that other people will also buy bitcoins and raise the price Look, you can't just limit our options like this.
- mytailorisrich 6y agoBTC is at an all time high, which suggests it's a good time to sell. The pandemic is probably a major cause of its rise so you might gamble that there is still some scope for increase, or just cash in now.
- tutfbhuf 6y agoAgreed, if you think that the BTC price is not driven by /dev/random and that statistics apply, then you should sell at an all time high like now.
- ahelwer 6y agoPfft. Market movements don't follow a Gaussian distribution. Reversion to the mean does not exist in domains governed by power law.
- tutfbhuf 6y agoI think I have you covered by stating, that you have to believe in statistics like mean reversion for financials in order to sell. If you don't believe that, okay, that's fine too.
- ahelwer 6y agoThat isn't statistics, it's nonsense. Returns do not follow a Gaussian distribution, therefore do not exhibit mean reversion behavior. This is true in the price of any widely-traded financial instrument. You can't just say patently untrue things about the world and call it "statistics".
- tutfbhuf 6y agoYou might not accept Wikipedia as a source but anyways: https://en.wikipedia.org/wiki/Random_walk_hypothesis https://en.wikipedia.org/wiki/Random_walk_hypothesis > Professors Andrew W. Lo and Archie Craig MacKinlay, professors of Finance at the MIT Sloan School of Management and the University of Pennsylvania, respectively, have also presented evidence that they believe shows the random walk hypothesis to be wrong. Their book A Non-Random Walk Down Wall Street, presents a number of tests and studies that reportedly support the view that there are trends in the stock market and that the stock market is somewhat predictable. It's an open question/debate in academia whether the random walk hypothesis is true or false.
- _alex_ 6y agoBuy stuff with it, sell it, hold on to it. Those are the things you can do.
- fakedang 6y agoIf you gain little by selling it, sell it. If you gain a lot (like say, you bought it when it was at 2k), hodl it.
- lxgr 6y agoHow can the value (even subjective) of a commodity vary depending on the buy-in price?
- conformist 6y agoExactly, this is likely a logical fallacy. In particular, how can your expectation of the future value minus the current value depend on your buy-in price? That's a property a prediction should not have.
- fakedang 6y agoI wasn't optimizing for value. I was optimizing for contentment. If you are worrying about the value of an asset at a particular moment, and even mildly thinking of selling it, spare yourself the worrying. If you bought in at a high price, and you are going to sell it now, it will still be a small profit. If you bought in at a low price before, you can likely afford to wait. Even if the value goes down, you will still have made a profit. But thinking this way gets the worrying part of taking such a speculative decision out of the way.
- terse_malvolio 6y agoAsk the question to enough people to artificially drive up demand, then sell.
- sbarre 6y agoSell it and buy Cloudflare
- redrum 6y agoCould you explain why you would choose Cloudflare stock?
- gilrain 6y agoIf you can spare the money, sell it and give it to your favorite charity. Feels great, and 'tis the season.
- tinus_hn 6y agoAsk HN: I have a one dollar bill, what can I do with it? Besides hoping that other people also want to have a one dollar bill and raise the price
- bitholder 6y agoWell, you can exchange USD with oil, goods, services everywhere. P2P payments can be successfully done in USD for few cents (eg. Venmo, Paypal etc..). Anonymity is not a point because all transaction are public in the blockchain.I could pay in Monero to my fellow drug dealer but it's difficult to exchange it for a Ferrari without going through KYC.
- joveian 6y agoGive it to Sci-Hub.
- hprotagonist 6y agomoney can be exchanged for goods and services.
- bitholder 6y agoThere are a few websites accepting it. It looks to me that "paying with bitcoin" is the minor use case. It's seems just a tradable stock that goes wildly up and down because it's impossible to find a reasonable fair value. The whole industry is based on trading, but the underlying asset is mostly useless. No dividends. No places to spend it. No low-volatility. No inflation-adjusted.
- emerged 6y agoThe question was about Bitcoin, not money.
- joaogfarias 6y agoIf you think the project makes sense, I would suggest hold into it. Bitcoin has a market cap of ~472 billion dollars. The amount of dollars in circulation is on the magnitude of hundreds of trillions. Therefore, it's still way too undervalued. https://howmuch.net/articles/worlds-money-in-perspective-2018 https://howmuch.net/articles/worlds-money-in-perspective-201... (Note: "Very old chart", but the idea is the same)
- deleted 6y ago[deleted]
- leoplct 6y agoI do think the real circulating supply is lower (Lost wallet, Seized wallets) therefore the real market cap is lower. About valuation, you cannot compare a company which gives investors dividends/buyback vs a currency only used for holding and trading.
- delvaux 6y agoKeep it for yourself.
- pjdkoch 6y agoUnless you need the money, keep it.
- alwillis 6y agoIf you need USD, you can earn interest up to 8.6% APY: https://blockfi.com/crypto-interest-account https://blockfi.com/crypto-interest-account
- juancn 6y agoMandatory Simpsons quote: https://www.youtube.com/watch?v=dgct3Jn8pFA https://www.youtube.com/watch?v=dgct3Jn8pFA Homer: Aw, twenty dollars? I wanted a peanut! Homer's Brain: Twenty dollars can buy many peanuts. Homer: Explain how! Homer's Brain: Money can be exchanged for goods and services.