Bitcoin Approaching All Time High Price (Denominated in AUD), does it affect you?

techlead on 25/02/2024 - 10:56

As Bitcoin defies all the nay sayers yet again is on the cusp of creating a new all time high (in AUD), actual price $78700 AUD versus all time high of around $82800, for holders, are you thinking of selling or buying more? For non-holders, do you plan to buy more?

Very interesting to be doing comparisons with other investments, like property and shares. I cannot have accumulated my current net worth without bitcoin and other cryptocurrencies. I just did a stocktake recently and found out I now have more than 600BTC and I have yet to complete the stocktake as I still have addresses which have less than 0.2BTC which I have written off before because it was chump change, but now worth quite a bit (circa over $15k for the 0.2 BTC addresses).

I still cannot understand why property investment gets all the hype when it has been proven time and time again that Bitcoin returns are way way better. It just really boggles my mind, am I missing something here? I'm very excited for the Halvening and the upcoming bull market.

For the nay sayers, what does it take for you to change your mind about crypto? Government regulation has arrived, its virtually impossible for Western governments to ban Bitcoin.

Poll Options

  • 24
    I'm a holder of crypto and will sell asap
  • 271
    I'm a holder of crypto and will continue holding
  • 22
    I'm a holder of crypto and will continue to buy more
  • 10
    I'm not a holder of crypto and looking to start buying
  • 513
    I'm not a holder of crypto and don't plan to buy any
Financial Cryptocurrency

Comments

      • Captain M on 26/02/2024 - 17:44
        +3

        If the dealer was smart they would only accept Monero. Shows how much you know about crypto to make such statements. Take some time to read up on the public ledger.

      • dfg555 on 28/02/2024 - 19:52

        You do realize you're self-incriminating yourself if you accept BTC as a form of payment for illegal activities? BTC is not and never was "anonymous". The blockchain is public and can easily be traced.

    • netjock on 26/02/2024 - 16:09
      +1

      Then there is those crypto slaves of the rug pull.

      If everyone was a millionaire isn't that the new poor?

      • bargainhunter168 on 26/02/2024 - 19:37
        +1

        Very true, look at the property market. Everyone's a millionaire, hence no one is truly rich.

        As for Bitcoin, there can only ever be 21 mil, not a single one more.

        • netjock on 26/02/2024 - 23:37

          As for Bitcoin, there can only ever be 21 mil, not a single one more

          That is what they are saying about land in the major cities. 200 years ago people used to live inland until sea ports became popular for global trade. See how many inland abandoned towns there are.

          But you know Bitcoin people think this time it is different just for them because they are "special"

  • wau2 on 26/02/2024 - 14:41

    Mate just buy ozbargain ShopBack Cashrewards and give us all super deals with 100% cash back. You will be a legend here

  • LFO on 26/02/2024 - 14:48

    … Government regulation has arrived, its virtually impossible for Western governments to ban Bitcoin.

    Final long-lasting words …

  • mattstar on 26/02/2024 - 15:27

    is this a drop your wallet and ill send you 1 BTC type of post?

  • Farrba on 26/02/2024 - 15:28

    is there any coin that got listed in an exchange like binance swyftx coinjar from 2021 and has done 1000x?

    • localhost on 26/02/2024 - 15:34

      Shiba INU

      • Farrba on 27/02/2024 - 09:21

        no, it was already too high when it got listed and didnt go 1000x in major exchanges.

        id say better gamble on coins that can only be obtained via uniswap pancake etc

    • netjock on 26/02/2024 - 16:11
      +1

      Only pumpers are those who got in at very low values.

      Bitcoin is like property, been done to death. All profits have been arbitraged to death.

      Those who got in at $200 are like "boomer asset hoarders" (the most popular raging tag now) who just want to see their assets go up and screw young people or those who are coming later.

  • PopCounty on 26/02/2024 - 16:47
    +1

    This guys is annoying. Like poisonous mushroom, pops out in Bitcoin gaining season.
    I too hold Bitcoin and liked earlier. But this is far annoying now.

    • bargainhunter168 on 26/02/2024 - 19:41
      +3

      Its a good reminder the Bitcoin bull market is upon us. What's annoying about that?

      What I find more annoying are those property investment shills, trying to get people to invest into real estate.

      • netjock on 26/02/2024 - 23:42

        What I find more annoying are those property investment shills

        That is because investment advice in real estate is not regulated. Don't need an AFSL.

        Same with Bitcoin. It isn't regulated. Zero protection.

        Someone is going to tell me about the SEC regulated ETFs. Yes the ETFs are regulated just like your managed funds but it doesn't stop the underlying (Bitcoin / Shares) going to zero.

        Now you know why nobody is pushing the ETFs on OzB because if you do and ASIC find you you'll be up for a whooping fine.

  • Captain M on 26/02/2024 - 17:35
    +1

    Bitcoin is freedom, have you guys looked at what inflation does to a currency? Without Bitcoin, you are at the mercy of the reserve bank and their money printer.

    Don't bundle Bitcoin and other random crypto currencies together.

    • SBOB on 26/02/2024 - 18:17
      -1

      Without Bitcoin, you are at the mercy of the reserve bank and their money printer

      With Bitcoin, you are at the mercy of tether and their money printer

      • Captain M on 26/02/2024 - 20:50
        +1

        Bitcoin has a limited supply. Nothing to do with tether. You should read up on Bitcoin.

        • netjock on 26/02/2024 - 23:39
          +1

          Bitcoin has a limited supply

          So what? Lots of stuff have a limited supply. Like Trump Sneakers but nobody sells it as a unique point that makes it worth $1m a pair.

          Lets play pretend.

          Hope you hold on forever and live nicely off the dividends.

        • SBOB on 27/02/2024 - 01:31

          Thanks for assuming I don't hold crypto, and have no understanding of it, and haven't been in the market for many years.

          If you don't think the price of btc is manipulated based on exchanges and underlying 'backed' assets as tether, well, perhaps you should read up on Bitcoin :)

  • zanzir on 26/02/2024 - 18:16
    +4

    would appreciate it if OP didnt talk about btc while we're nearing ATHs, thanks, dont let normies accumulate now

    • Drpepper666 on 27/02/2024 - 13:38
      +2

      Normie FOMO is how you reach a new ATH

      • zanzir on 27/02/2024 - 14:43
        +1

        yeah well im not done buying. cant wait to dump on them though, can see a few people here who will fomo in at the top

  • Zondor on 26/02/2024 - 18:41

    I brought 0.0084 in 2017 and this post just reminded me to sell. $200 into $660.

  • kaleidoscope on 26/02/2024 - 21:26

    Here we go again

  • pokmo on 27/02/2024 - 00:02
    +2

    I still hold the crypto I bought in 2012 (sub $2), but OP appears to be pathologically obsessed. Look at his post history. People like him are giving crypto a bad name.

    • bargainhunter168 on 27/02/2024 - 11:25

      How so? He has been debunking myths and educating people, what's bad about that?

      • pokmo on 27/02/2024 - 14:34
        +2

        He's hasn't debunked any myth - in fact he has helped confirmed a few. Just because the price of something goes up sky high, it doesn't make that a sound investment. Volatility and risk come hand in hand. Property prices don't lose 10% over a week many times a year. NFTs had high prices at one point too and look at them now. Even specific shares aren't a good buy-and-hold investment - be it Tesla, Meta, etc. Trading is fine, but not buy and hold. Smart investors buy and hold index ETFs for this reason. Of course, index ETFs bring more risk than properties.

        Also OP comes out drumming up crypto only when prices are on the rise and completely avoids the topic in a bear market. Clearly he doesn't even have confidence in BTC himself.

  • Chino Gambino on 27/02/2024 - 02:43
    +6

    They are magic beans, a bigger fool scam. Great if you can trick someone, immoral but fast money on the backs of others. Its also a criminal waste of resources for a payment network that could not service the transaction needs of Adelaide.

    • orangecarpet-22 on 27/02/2024 - 08:05
      +1

      Fiat currency is indeed fast money on the backs of others. Someone prints willy nilly in a database at the stroke of a key, at the expense of those who don't own the assets, who trade all their life energy for something that is meaningless. Immoral and unethical.

      Bitcoin has unforgeable costliness. It's closer to what money should be than the fiat dollar ever was.

      Educate yourself. Or just let it be.

      • Cluster on 27/02/2024 - 09:26
        +2

        If 'fiat' currency is immoral and unethical, what does that make bitcoin?

        The 'costliness' of it is what makes it downright evil. Millions of computers doing nothing but running at 100% all day, churning out SHA256 hashes in a giant extremely wasteful lottery hoping to be the winner. At least Ethereum did the decent thing and switched to a model where people who already have ethereum are rewarded with even more (and that isn't evil…) instead of burning millions of kWh every day.

        The funniest thing I ever read was that some even consider bitcoin to be a 'battery' due to its immense energy consumption. Yes, a battery from which you can never extract any energy. How useful. And I know, the 'but what about…' are going to come in thick and fast. VISA, Mastercard, PayPal, and the banks require a large infrastructure to run too. VISA alone can handle about 65,000 transactions per second. Bitcoin does up to 7.

    • dfg555 on 28/02/2024 - 19:53

      15 years is not fast money lmao. stay reliant on government banks with no shelter of self-custody.

  • dowhatuwant2 on 27/02/2024 - 09:18

    ponzi

    • orangecarpet-22 on 27/02/2024 - 09:28
      -1

      Can you elaborate on your thesis? When the SEC has approved ETFs, and BlackRock have an ETF, and anyone with exposure to the SP500 has BTC indirectly through Block, Tesla, and soon perhaps MicroStrategy, is that legitimate enough for you?

      What is it you see as an OzBargain nerd that these behemoths don't?

      In fact, the majority of the time has passed where OzBargain nerds could see something the big boys and the rest of the world didn't see, and that is why OP has $46 million, probably closer to $50 million now.

      • Cluster on 27/02/2024 - 09:32
        +6

        BlackRock et al see profit. That's all they care about. They don't care what bitcoin does or how it works. It could eat babies for breakfast. But if there's a dollar to be made you bet BlackRock will be there to cash in.

        And no, the OP does not have $50 million. No evidence has ever been presented. I have 10,000 Ethereum. Prove me wrong.

      • dowhatuwant2 on 27/02/2024 - 10:02
        +1

        Like legitimate organisations don't fall for traps? Look at the housing crash, bunch of junk valuations of trash housing that were owned by every man and his dog. Crypto is a ponzi, investors leaving are funded by new investors and there is no inherent value in the item being invested in. A significant enough swing in sentiment and it will come crashing down.

    • bargainhunter168 on 27/02/2024 - 11:27

      How so? How is Bitcoin more of a Ponzi than the real estate market?

  • Relapse on 27/02/2024 - 10:30

    All of the hype with the ETFs and its still less than it was 2 years ago - Excuse my ignorance but everything the BTC holders have been hoping for has been happening and yet the returns seem pretty ordinary compared to expectations. Are you at the moon yet guys? Where do you actually see it going from here? Wasn't ETFs the holy grail?

    • localhost on 27/02/2024 - 10:32
      +2

      They still compare prices from 2012 :)
      1000x returns

    • bargainhunter168 on 27/02/2024 - 11:29

      Hmm, let's consult the charts.

      Feb 2022, Bitcoin was at $61k AUD, now Bitcoin is at $83k AUD. You tell me, is that moon yet?

      Personally, I was watching Bitcoin from sub $10k AUD, so to me, Bitcoin prices now are beyond the moon, its out of the solar system already on its way to the next galaxy.

      • AlienC on 29/02/2024 - 08:05

        nah i set my moon limit at a clean 1 million.. someone else might have set theirs at 10 million or 100 million who knows but i want to see it reach 500k and 1m each personally i have not done any chart projections at all but i honestly thought maybe 20-25 years for 1m if not 50 or more

    • cute as duck on 27/02/2024 - 12:38
      +1

      You assume everyone only bought at ATH.

    • Bigburper on 28/02/2024 - 21:48
      -1

      How does it feel to be so pathetically wrong?

  • MrFunSocks on 27/02/2024 - 11:22

    The time to make serious money on bitcoin is long gone. At best now you can what, double your money at best? And that's if it crashes and you buy at the bottom again. It's just not worth the risk for something that is essentially a scam.

    Buy ARM shares instead if you want to risk your money on an investment.

    • bargainhunter168 on 27/02/2024 - 11:32
      -4

      Its true that the altcoins are more profitable and you are very unlikely (not impossible) to be making 1000x on BTC. However, Bitcoin is a bluechip, it has made it, institutional investors are in. I reckon in this bull market it might 3x to around $150k to $200k USD. That's still a 3x return, not too shabby.

      Also, Bitcoin's value will continue to grow because there's no floor to the value of fiat currency. If you understand that, you are truly free. $1 mil per Bitcoin is inevitable, its just a matter of when, and its not going to stop at $1 mil.

  • Autonomic on 27/02/2024 - 11:29
    +3

    2024 and still no use cases

    • bargainhunter168 on 27/02/2024 - 11:33
      -2

      2024 and still no use cases for me, I don't like money, just debt for me.

      There I fixed it for you. There are many use cases for Bitcoin if you care to open your mind.

      • Autonomic on 27/02/2024 - 11:34
        +3

        Like?

        • bargainhunter168 on 27/02/2024 - 11:38

          The ability to send wealth without censorship and interference from anyone else. Where else can I do that?

          • Autonomic on 27/02/2024 - 12:12
            +3

            @bargainhunter168: Send wealth in a public transaction that everyone can see?

            • bargainhunter168 on 27/02/2024 - 12:18
              +2

              @Autonomic: Well, the address is public, you still need to prove that it belongs to me. I can also create infinite number of new addresses.

              • Autonomic on 27/02/2024 - 12:28
                +3

                @bargainhunter168: So it's a huge pain in the ass to be censorship resistant and not actually built into Bitcoin. And this is the Bitcoin use case that made it go 1000x?

                edit: how is creating multiple addresses going to help you stay anonymous? If you have Bitcoin wallet A and you transfer to Bitcoin wallet B through ZZZZ as an intermediary, it's still going to be traced back to Bitcoin wallet A.

                • nushydude on 27/02/2024 - 19:59
                  +1

                  @Autonomic: Yes, you cannot be anonymous. We plebs might not be able to find out the owner, but governments can if they bought from a centralised exchange and then track it on-chain. Either you need to buy on a DEX or mine it yourself.

                • bargainhunter168 on 28/02/2024 - 18:03
                  +1

                  @Autonomic: The other use case is being digital gold. It is verifiably scarce and people trust its network. That's the advantage Bitcoin has over other blockchains which people can create themselves.

          • umoddbro on 28/02/2024 - 14:54
            +2

            @bargainhunter168: For the ordinary Joe, which is 99% of the population that doesn't help at all. Only criminals will benefit. What else?

    • Poor Ass on 28/02/2024 - 00:35

      there are restaurants, cafes and even a dentist I know that accept it as payment in Australia

      if you a holding a little bit as use it as a method of payment rather than for investing and price goes up, you spend less Bitcoin and get more value out of it

      • MrFunSocks on 28/02/2024 - 13:46
        +1

        You'd be an idiot to buy anything with bitcoin though, because while you might buy something for $4 worth of bitcoin today, tomorrow that item you bought for $4 might have actually ended up costing you $6 worth of bitcoin.

        • Poor Ass on 28/02/2024 - 13:50

          I was responding to Autonomic … did you read what they wrote?

          but if you have enough BTC it doesn't really matter does it

  • JimB on 27/02/2024 - 12:17
    +4

    Man I wish I had purchased BTC.

    I think it's a massive ponzi but I still wish I had invested $100 at $1 (or less).

    Having said that, if I did, I wouldn't have kept all 100 BTC ($8,377,100).

    I wouldn't have had the balls to keep it all.

    I would have sold some of each time when it reached $100, $1,000, $10,000, $50,000 etc. to take some profits, buy a new car, pay off mortgage etc.

    Unless you lost your password or forgot about it, very very few people who purchased it at $1 would have the balls to not sell at some stage in case it collapses.

    And collapse it will. At some stage people will realise it's a ponzi that doesn't pay any income or have any intrinsic value. You just hope that you sell before there's no more fools out there.

    • bargainhunter168 on 27/02/2024 - 12:21
      -2

      Haven't collapsed yet, in fact it has yet to chalk a new lower low in the higher timeframes, so you are just gonna wait abit longer for the collapse lmao.

      Calling for Bitcoin to collapse is exactly like those hoping for property prices to collapse, it ain't gonna happen.

      • JimB on 27/02/2024 - 13:49
        +3

        Yeah, it won't collapse until it does.

        There's a difference between property and BTC. You can rent it or live in a property.

        • bargainhunter168 on 27/02/2024 - 13:58
          -2

          Yeah, it won't collapse until it does.

          Exactly, same applies to property.

          There's a difference between property and BTC. You can rent it or live in a property

          There's no renting out when you can't keep up with the expenses or repayments. So many of my property investing friends had to sell because they over stretched themselves, repayments almost doubled, they can't keep up, the rental income doesn't cover it. They were forced to sell, its not as simple as you just live in it, you can't when you can't pay lmao.

          • Relapse on 27/02/2024 - 14:07
            +5

            @bargainhunter168: You're talking about a loan here - That has nothing to do with property vs BTC. If you take our a loan for BTC you're in the same situation. It would be a very rare situation where rent wouldn't cover expenses alone.

          • JimB on 27/02/2024 - 14:57
            +1

            @bargainhunter168: What I'm saying that, property could never collapse to zero overall.

            Yes, some property are worthless because people do not want to live there, however unless the whole human civilisation dies out, overall there will always be a demand for property to live in. Cash could be worthless one day but houses could always be bartered for potatoes and cows.

            As long as you have demand for people to live in the properties, they could be sold or rented out.

            While tulips are nice to look at and can be sold, no one needs tulips to live and you can't rent tulips out.

            If you hold BTC, it won't provide you any income. Yes there are places that you could transfer your BTC to earn some interest but they are super risky as the lender uses it speculate.

            Yes banks can also collapse… blah blah blah.. at least we have the Government Guarantee on bank deposits.

          • TEER3X on 27/02/2024 - 19:41
            +1

            @bargainhunter168: More people have lost money investing in Bitcoin than people investing in property.

            Even these poor souls, who were forced to sell their properties, have amassed a nice capital gain.

      • Thaal Sinestro on 27/02/2024 - 20:12
        +1

        It's almost impossibly to lose money on a house in Australia. All long as the Uniparty keeps on letting half a million into the country every year, prices will increase on avergae by 10%. The largests dips on housing are no more than 10%, whereas Bitcoin can halve in 3 months.

    • cute as duck on 27/02/2024 - 12:40
      +1

      massive ponzi

      Who is the Bitcoin CEO who is benefiting from this so-called 15+ year old Ponzi Scheme people keep calling it as? Bitcoin is not a company.

      • Autonomic on 27/02/2024 - 12:54

        Tether

      • JimB on 27/02/2024 - 13:52
        +2

        Who mentioned anything about a CEO?

        Who's benefiting? anyone who is currently holding it (while it goes up) and the exchanges who make money from trades.

        I'm not saying BTC is a bad investment because it's not an investment, it's speculation.

    • nushydude on 27/02/2024 - 19:56
      -2

      You will be forced to buy it at some point… better not get too arrogant and rather get on the bandwagon.

      • JimB on 27/02/2024 - 23:04
        +1

        Why would I be forced to buy it?

    • Bigburper on 28/02/2024 - 21:59

      Clowns like you don't deserve BTC.

      • JimB on 28/02/2024 - 23:17
        +1

        Touché

        Definitely don’t deserve it.

        A fool and his money…..

    • AlienC on 29/02/2024 - 08:03
      +1

      yeah honestly realistically i probably would have chickened out at the $2000 stage lol only netting about $10k profit but i like to tell lies to myself that I would have waited until later :) we all do it is nice to lie to ourselves :)

      • JimB on 29/02/2024 - 10:03

        I think many people would think they can HODL all their crypto forever.

        But if you have seen a 200000% increase ($1 to 2,000) it takes massive balls to continue to HODL on all your coins.

        Good on them, I know I couldn't for any investment.

        • AlienC on 29/02/2024 - 10:11

          Same i have a number in my head somewhere that is the "that's enough" and the "that's more than enough" numbers.. I think a lot of us do.

          For me it's probably somewhere over half a million or more I'm a bit light headed right now but you get the idea.

          I would have cashed out ages ago.

          Very safe paranoid gambler I am.

          • JimB on 29/02/2024 - 10:30

            @AlienC: Good strategy.

            If you can use it to pay off your mortgage (and the CGT) most people would.

            You never lose money taking a (massive) profit.

    • lltravel on 29/02/2024 - 12:32

      you don't understand BTC or blockchain and calling it a ponzi shows how little you understand

      • JimB on 29/02/2024 - 13:29

        Or maybe I do and have made an informed decision.

        I made the conclusion that the Virgin Mary story wasn’t true, does that show how little I know?

  • bargainhunter168 on 27/02/2024 - 13:14
    +1

    Bitcoin price is now $85422 AUD, is that a new all time high yet?

    • lltravel on 27/02/2024 - 14:28
      +3

      93,482 was an all time high, once it surpasses this we will see 100k as an ATH

      • AlienC on 29/02/2024 - 08:01

        hmm so maybe 1 million in 20 years is possible huh who wouldathought

        • lltravel on 29/02/2024 - 12:31

          97,930 ATH at 3.20am today

  • Ononono on 27/02/2024 - 13:37
    +1

    The worst part about crypto is all the bros shilling it like a cult - which ironically is why most people have such a negative perception to it. I own a decent portfolio, to be honest it's very easy to make money if you gain some basic knowledge of how everything works.

    Bitcoin will continue past its previous ATH, then sometime a few months after the halving (around April) it will start dumping back down again as miners take profits, just like it has in the previous 3 halving cycles. If you're seeing bitcoin in news headlines, you're likely already too late to buy, which is why most people get wrecked. You should buy at the bottom when all the bros are silently crying and nobody is talking about it anymore, then you just wait for the next boom and enjoy your 500% gains.

    • bargainhunter168 on 27/02/2024 - 14:00

      The worst part about crypto is all the bros shilling it like a cult

      That's exactly how I feel about the real estate bros. They are move in your face, its everywhere.

      • Ononono on 27/02/2024 - 14:35
        +2

        So you know how annoying it is, but not self-aware enough to behave differently

        • bargainhunter168 on 27/02/2024 - 14:46

          Real estate bros are not stopping, why should crypto bros?

  • aboogee on 27/02/2024 - 14:16
    -1

    Your strat is working. I am envious of your $47m wealth that you've accumulated.
    But I dont understand the asset, which makes it a gamble for me to put any $$ into it.
    Each time when I see someone justify why Crypto, the answer seems to be "to move away from fiat".
    But other real / financial assets allow you to do so while providing utility at the same time - and that defines a minimum value of those assets
    I am not entirely sure what utility Crypto provides - OP plz enlighten me (real question from me) as I dont think "moving away from fiat" cuts it.

    • xazark on 27/02/2024 - 14:56
      +4

      As a very rudimentary view, Crypto provides a couple of main utilities over fiat, firstly its decentralised, meaning that governments can't (yet) control it and print money, i.e. give money away as happened with many countries during covid and then write off the debts, effectively manipulating (devaluing) the fiat currency. Secondly it's worldwide, i.e. you can use it in Australia, US, Canada, South America etc.. although at the moment not many places accept it for general items so this is sort of moot currently. It also can be used as a hedge against inflation, however this is speculative there are only a limited number of coins, assuming we are talking about Bitcoin or similar (there are other types of coins that I wont go into) which in theory means that the more people that want the limited thing, the higher the value, standard supply v demand.

      Now dont get me wrong, there are a lot of crypto scams out there, rug pulls etc. and I dont think crypto as a whole is really even close to where it needs to be in order to be a real threat to fiat currency, but the underlying drive is there, people are sick of the established companies controlling when and how you can access your own money so the want to move away from that is there and hence crypto is an option. Maybe in 50-100 years banks wont exist and everyone will have Bitcoin (or whatever takes the lead as the primary coin) or maybe the government steps in and decides crypto is illegal and it causes all coins to have zero value.

      Regardless, I would recommend doing your own research and start small to get some sort of understanding of what you are doing before even considering putting any significant amount of money in any coins if putting in any money at all.

      • aboogee on 29/02/2024 - 13:27

        Thanks - but again i don't think this addresses the more fundamental question
        You've provided all the reasons to dislike fiat, but I don't see why it makes Bitcoin or crypto the next alternate store of wealth
        Again, can I please understand - what is the difference between bitcoin and [gold or any tangible assets that can be used in real life]..

        I get your point on limited quantity and people wanting it but more importantly why do people want it?
        At least with gold if people decide they dont want it, the speculative value of gold will evaporate, leaving you with fundamental value (using it to make stuff)
        If people decide Bitcoin is a scam, how much you reckon the fundamental value of it is?

        Again I emphasize, I am not saying Bitcoin is bad. I am just saying i fail to see how it can be a "hedge" when the value depends so heavily on speculation of what happens next

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