I recently came across this simple to use, yet highly educational website called Case Bitcoin. It lays the case to invest in Bitcoin and also has plenty of interesting resources, including a comparison to the S&P500 and gold.
Let me know what you think of the site: https://casebitcoin.com/
Woke up this morning to see that nearly every crypto coin is down around 30-45%. What are you doing to cope with this? I'm just sitting and watching out things unfold. I can't access my Gemini account to make any trades though; wonder if some of the downward pressure is a result of panic selling like a run on the banks. Coinbase Pro seems operational based on their status page.
Elon Must has been on a crusade this weekend to disparage bitcoin.
First it was about the climate impact (even though his private jet and space rockets use a lot of fossil fuel):
Tesla & Bitcoin pic.twitter.com/YSswJmVZhP
— Elon Musk (@elonmusk) May 12, 2021
To be clear, I strongly believe in crypto, but it can’t drive a massive increase in fossil fuel use, especially coal
— Elon Musk (@elonmusk) May 13, 2021
Then it was about about pumping Doge more and making crazy claims:
Ideally, Doge speeds up block time 10X, increases block size 10X & drops fee 100X. Then it wins hands down.
— Elon Musk (@elonmusk) May 16, 2021
And finally making fun of Michael Saylor:
He should wear outfit for Halloween, but with “Bitcoin” tattooed high on thighs
— Elon Musk (@elonmusk) May 16, 2021
I read an argument that if one man can have such a huge effect on the crypto market (so far down 20% overall), then crypto isn't yet ready for mass adoption; I tend to agree here. The power of crypto is that no one single person or entity can affect it -- either positively or negatively -- and Elon, whether you agree or disagree with him, has shown the crypto market is still very delicate.
As a follow-up to my previous post, here are the results:
Closing day (4/14) reference price: $328.28 -- since it's a direct listing there's no "IPO price"
One week later (4/21): $311.92 (down 5%)
One month later (5/14): $258.37(down 21%)
Boy, was I so wrong!
It took me a Google search and a YouTube video to find out how to withdraw my USD from Coinbase into my bank account. Did anyone else find this unnecessarily burdensome? Gemini makes it so much easier and clearer. I feel that Coinbase intentionally makes it difficult to withdraw funds to keep users locked into the account.