3LTS vs BTC

[Marcraffard]

GraniteShares 3x Long Tesla Daily ETP listed on the London Stock Exchange seeks to provide three times the daily performance of Tesla Inc shares and has delivered growth of 160.8% over the same period, compared with 110.65% for Bitcoin.

Since inception on 1st July 2020, 3x Long Tesla Daily has delivered growth of 3,086.98% which is more than five times better than Bitcoin at 569.17%. Over that period Tesla stock has gained 469.50%.

https://www.etfworld.co.uk/graniteshares-going-long-on-tesla-has-been-five-times-better-than-bitcoin/ 

[Marcraffard]

The question put differently, are you investing in Bitcoin for performance only? or because it's Bitcoin?
Because there are financial products that deliver much more performance than BTC.

[Marcraffard]

To illustrate the article 😉

Past performance is no guarantee of future returns.

[MongiIG]

7 hours ago, Marcraffard said:

The question put differently, are you investing in Bitcoin for performance only? or because it's Bitcoin?
Because there are financial products that deliver much more performance than BTC.

Hi @Marcraffard

Great question you have asked.

Bitcoin vs. Traditional Assets: Who is Ahead Right Now?

In the past few weeks, Bitcoin’s price has grown significantly and reached amazing heights not seen in years. 

This leaves us with so many questions such as “Is Bitcoin a better investment option compared to traditional assets like Stocks?

How is Bitcoin doing compared to more traditional assets, which include gold, properties, stocks, etc.?

 

 

 

For the full article: Bitcoin vs. Traditional Assets: Who is Ahead Right Now?

 

Share your thoughts, what is your view?

 

 

All the best - MongiIG

[Marcraffard]

That's a very interesting and full analysis.

Bitcoin is very correlated to Equities, maybe we can consider it as an Index (like Nasdaq, S&P500...)

[andysinclair]

39 minutes ago, MongiIG said:

Share your thoughts, what is your view?

Bitcoin has no intrinsic value and is effectively a ponzi scheme, hence articles like this which exist solely to entice new money into Bitcoin and keep the merry-go-round going.

Unfortunately it is becoming too big to fail and will probably require a bailout of sorts. There are too many VCs, jobs and “investors” dependent on the bubble perpetually inflating.

Here's a better analysis of cryptos: https://www.stephendiehl.com/blog/crypto-absurd.html

[MongiIG]

4 minutes ago, andysinclair said:

Bitcoin has no intrinsic value and is effectively a ponzi scheme, hence articles like this which exist solely to entice new money into Bitcoin and keep the merry-go-round going.

Unfortunately it is becoming too big to fail and will probably require a bailout of sorts. There are too many VCs, jobs and “investors” dependent on the bubble perpetually inflating.

Here's a better analysis of cryptos: https://www.stephendiehl.com/blog/crypto-absurd.html

Hi @andysinclair

Thanks for sharing your feedback and view. Interesting analysis of cryptos you shared as well, thanks.

Similar to Fiat currency, Bitcoin (or most of the cryptocurrencies) is also not backed by any gold or silver hence does not have any intrinsic value.

Interesting, when you say "becoming too big to fail", do you compare Bitcoin to the Tulip bubble? Is Bitcoin the Tulipmania that refuses to die or fail?

 

All the best - MongiIG

[andysinclair]

52 minutes ago, MongiIG said:

do you compare Bitcoin to the Tulip bubble? Is Bitcoin the Tulipmania that refuses to die or fail?

Yes, that is exactly what I think it is. I think we will look back on this crypto mania period and wonder what on earth we were thinking about (and I haven't even touched on the enormous amount of energy and resources dedicated to crypto mining!).

[skyreach]

BITCOIN A PONZI?

"A Ponzi scheme is a fraudulent investing scam promising high rates of return with little risk to investors. A Ponzi scheme is a fraudulent investing scam which generates returns for earlier investors with money taken from later investors. This is similar to a pyramid scheme in that both are based on using new investors' funds to pay the earlier backers

Both Ponzi schemes and pyramid schemes eventually bottom out when the flood of new investors dries up and there isn't enough money to go around. At that point, the schemes unravel."

Ref.  INVESTOPEDIA

Money is something backed by confidence. It is a medium of exchange and can be represented by gold, silver, paper money value, digital tokens, coupons, etc... whatever a group or society agrees to use.

It goes wrong when it is corruptly used or abused in its defined use and people lose confidence in it as it loses value or the trust in it is broken.

Dollar is paper money (fiat) that was backed by gold once and its value remained relatively stable. Once the gold link was banned the Dollar being the world reserve currency was the link for all countries to value. But, central banker (FED) policies since 1913 have, over time, devalued the purchasing value of the Dollar by about 80%. Dollar rate against other currencies is a battle of each country seeking to make its currency more valuable. The true way to make a currency valuable  involves the proper handling of the economic factors creating goods & services that are needed and exchangeable with others and nations. However some of the factors get manipulated or get based on improper evaluations and a false economy can be operated partially.

Paper money has been abused in its use by many nations and resulted in disasters only because of artificial manipulation of that currency instead of using the actual production and selling of goods and services that naturally and stably maintains an economy.

Now, is Bitcoin a medium of exchange?

YES. More and more companies are using it. Bankers are planning various types of digital products and eventually to control all cryptos as they hate it if it is NOT under their control and manipulation (for good or bad as in a vested interest form).

The share price of cryptos can go up or down in accordance to its supply and demand of the shares. Just like any other shares, commodities, etc...

 

 

 

 

 

 

 

Wikipedia

[MongiIG]

15 minutes ago, andysinclair said:

Yes, that is exactly what I think it is. I think we will look back on this crypto mania period and wonder what on earth we were thinking about (and I haven't even touched on the enormous amount of energy and resources dedicated to crypto mining!).

Hi @andysinclair

This is the latest on crypto mining:

Cryptocurrency miners are using compromised Google Cloud accounts for computationally-intensive mining purposes, Google has warned. Full article: CNBC

 

 

Wyoming is a potential hotspot for bitcoin mining, with the state’s abundance of natural resources and energy. Full article: Nasdaq.com

 

All the best - MongiIG

[MongiIG]

55 minutes ago, skyreach said:

BITCOIN A PONZI?

"A Ponzi scheme is a fraudulent investing scam promising high rates of return with little risk to investors. A Ponzi scheme is a fraudulent investing scam which generates returns for earlier investors with money taken from later investors. This is similar to a pyramid scheme in that both are based on using new investors' funds to pay the earlier backers

Both Ponzi schemes and pyramid schemes eventually bottom out when the flood of new investors dries up and there isn't enough money to go around. At that point, the schemes unravel."

Ref.  INVESTOPEDIA

Money is something backed by confidence. It is a medium of exchange and can be represented by gold, silver, paper money value, digital tokens, coupons, etc... whatever a group or society agrees to use.

It goes wrong when it is corruptly used or abused in its defined use and people lose confidence in it as it loses value or the trust in it is broken.

Dollar is paper money (fiat) that was backed by gold once and its value remained relatively stable. Once the gold link was banned the Dollar being the world reserve currency was the link for all countries to value. But, central banker (FED) policies since 1913 have, over time, devalued the purchasing value of the Dollar by about 80%. Dollar rate against other currencies is a battle of each country seeking to make its currency more valuable. The true way to make a currency valuable  involves the proper handling of the economic factors creating goods & services that are needed and exchangeable with others and nations. However some of the factors get manipulated or get based on improper evaluations and a false economy can be operated partially.

Paper money has been abused in its use by many nations and resulted in disasters only because of artificial manipulation of that currency instead of using the actual production and selling of goods and services that naturally and stably maintains an economy.

Now, is Bitcoin a medium of exchange?

YES. More and more companies are using it. Bankers are planning various types of digital products and eventually to control all cryptos as they hate it if it is NOT under their control and manipulation (for good or bad as in a vested interest form).

The share price of cryptos can go up or down in accordance to its supply and demand of the shares. Just like any other shares, commodities, etc...

 

 

 

 

 

 

 

Wikipedia

Hi @skyreach

Thanks for sharing.

 

A Ponzi scheme is a type of fraud whereby crooks steal money from investors and mask the theft by funneling returns to clients from funds contributed by newer investors. Full article : CNBC

 

The U.S. Justice Department will sell off $56 million worth of cryptocurrency it seized as part of a massive Ponzi scheme case against a man who promoted the offshore crypto lending program BitConnect, authorities said Tuesday.

The Justice Department said the liquidation of the cryptocurrency follows “the largest single recovery of a cryptocurrency fraud by the United States to date.”

Proceeds will be used to reimburse victims of the BitConnect fraud. Full article: CNBC

 

 

All the best - MongiIG

 

[andysinclair]

11 minutes ago, MongiIG said:

state’s abundance of natural resources and energy

Great, so the abundance of energy will be used to solve maths problems (mining) to perpetuate a colossal pyramid scheme.

I despair, surely all these natural resources and energy could be put to a better use?

[skyreach]

  PONZI SCHEME 2

The  articleD by Kevin Stankiewicz makes an interesting point and the definition he points out is ALSO true, in my view.

   "Ponzi scheme is a type of fraud whereby crooks steal money from investors and mask the theft by funneling returns to clients from funds contributed by newer investors."

   But taking it as it is then we can apply it to various other areas, seemingly.

FOR EXAMPLE:

   Q.E. encourages and creates greater and greater debt build up, and entraps all financially into  over debtedness, as encouraged by  the Monetary Theory used by the FED. In the end it collapses and various clever but complex solutions are advised by the same people who used flawed theories as being gospel truth.  A financial nuclear bomb gone off, markets crashes big time, a recession or depression ensues. All suffer. The flaws in the system are ignored or not recognised, during the frency of making a billions in profit. So, we have a roller coaster system.

   Majority of companies and millions of people who were not involved in it suffer AND THE COUNTRY'S TAXPAYER HAS TO PAY FOR it ALL THOSE SUBSIDES THAT THE GOVERNMENTS ARE ADVISED TO DO (PLAUSIBLE REASONS USED ). It becomes covert stealing by funneling indebted businesses and banks who's debts get shifted to the central banking system or by tax write offs so effectively charging the government, by "professional" advise, to take on toxic debts to "save" the economy and the system from "collapsing", and the politicians from losing popularity or the Office.

   Now, as reported in the media, a Debt Jubilee is being considered as a "solution". It has been used is past history too. But it did NOT WORK IN THE PAST AS WE HAVE ENDED UP WITH A SIMILAR PROBLEM NOW.

    Those who have studied the financial history and John Law and the "Mississippi Scheme and bubble, and the "South Sea Bubble" that was in the similar time using his idea gives rise to out current system.

   The Banking System was supposed to be a fractional system where a portion of income from depositors is supposed to be used for lending. Today this has been made extremely complex by lending x amount and this end product is again it is used as a derivative. Risk taking has gone in a frency. It just needs a major collapse,  to create a falling domino effect.

   So, the question comes back to:   WHAT IS A PONZI SCHEME?

   AND WHO RECOGNISES THE PRIMARY CAUSE, THE WHY OF THE WHOLE SITUATION IN THE PRACTICE OF FINANCE AND ECONOMICS. FOR GOOD RULES AND GUIDELINES OF PAST GENERATIONS HAVE BEEN OVER LOOKED.

   CAN ANYONE FIGURE THOSE OUT?

   “I cannot teach anybody anything. I can only make them think”

   “Strong minds discuss ideas, average minds discuss events, weak minds discuss people.”
― Socrates