3 ms·

This is expected as people start moving money away from capital into consuming. If you have any longterm aspirations for using crypto to save money, this summe

This is expected as people start moving money away from capital into consuming. If you have any longterm aspirations for using crypto to save money, this summer should be the time.

trasz 4y ago
Only if you assume Bitcoin is a capital.
jqpabc123 4y ago
I can't decide if your comment is intentional misinformation or just plain clueless. Bitcoin is obviously not capital. People pulling out of BTC in order to consume just underlines the fact it is not currency either. The fact BTC has dropped 50% over the past 6 months should demonstrate that it is one of the worst imaginable vehicles for saving money. It's not capital, it's not currency, it's not digital gold --- just what is it? How about a risky tool mainly used for nothing but pure speculation that "bigger fools" remain plentiful?
- emteycz 4y ago
  I can't decide if your comment is intentional misinformation or just plain clueless. Bitcoin is obviously capital asset. People pulling out of a capital asset in order to consume doesn't underline anything, just as pulling out of a Forex position says nothing about either currency of the traded pair. The fact that BTC dropped does not demonstrate anything without context - and in my case the context is that I'm currently 100,000% in profit (and the drop was not 50%), that should demonstrate it's one of the best imaginable vehicles for making more money than I ever could save. It's whatever it is. My wallet doesn't care about definitions or categories. A risky tool remains plentiful, and now I'll double my money once again.
  - jqpabc123 4y ago
    https://www.accountingtools.com/articles/capital-asset https://www.accountingtools.com/articles/capital-asset
    - emteycz 4y ago
      (capital) (asset), not (capital asset) I'm not well versed on English/US accounting terms, this was not intended. Where I live, I pay a "capital gains tax" on my "assets" - including Bitcoin.

This is expected as people start moving money away from capital into consuming. If you have any longterm aspirations for using crypto to save money, this summer should be the time.

trasz 4y ago

Only if you assume Bitcoin is a capital.

jqpabc123 4y ago

I can't decide if your comment is intentional misinformation or just plain clueless. Bitcoin is obviously not capital. People pulling out of BTC in order to consume just underlines the fact it is not currency either. The fact BTC has dropped 50% over the past 6 months should demonstrate that it is one of the worst imaginable vehicles for saving money. It's not capital, it's not currency, it's not digital gold --- just what is it? How about a risky tool mainly used for nothing but pure speculation that "bigger fools" remain plentiful?

emteycz 4y ago
I can't decide if your comment is intentional misinformation or just plain clueless. Bitcoin is obviously capital asset. People pulling out of a capital asset in order to consume doesn't underline anything, just as pulling out of a Forex position says nothing about either currency of the traded pair. The fact that BTC dropped does not demonstrate anything without context - and in my case the context is that I'm currently 100,000% in profit (and the drop was not 50%), that should demonstrate it's one of the best imaginable vehicles for making more money than I ever could save. It's whatever it is. My wallet doesn't care about definitions or categories. A risky tool remains plentiful, and now I'll double my money once again.
- jqpabc123 4y ago
  https://www.accountingtools.com/articles/capital-asset https://www.accountingtools.com/articles/capital-asset
  - emteycz 4y ago
    (capital) (asset), not (capital asset) I'm not well versed on English/US accounting terms, this was not intended. Where I live, I pay a "capital gains tax" on my "assets" - including Bitcoin.