Bitcoin Valuable Because Of It's Limited Availability? No. By Gregory Mannarino

in money •  2 years ago 

Me new pic.jpg

You hear a lot from Bitcoin holders that what gives Bitcoin it's value is it's "limited availability," 21 Million to be exact.
Well with this logic, any company with a limited amount of public shares should then reach stratospheric price valuations. Right? Well in reality it does not work that way, and this kind of thinking does not consider even a basic factor like competition from competing products for example.

In the case of Bitcoin or even a company, the price action is dependent on much more than it's "limited supply."

Gregory Mannarino, "The Robin Hood Of wall Street."

Click here: https://www.traderschoice.net/

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characteristics who survived 6000 years. For me Bitcoin is worthless. Just buy Bitcoins when Greg Mannarino tells it. It's just a game. Steem or Ether is the much more better option. They have real value.i awaloys resteem and upvoted your post ... @marketreport

@marketreport...well said. Many compare Bitcoin to Gold and even claim it will replace Gold. It's true, Bitcoin is limited even more then Gold. And it's true, nobody can steal your private key. This 2 points are better then Gold. But there is a 3 point. Bitcoin can be forked (Bitcoin Cash and more). Gold can not be forked. Gold has unique characteristics who survived 6000 years. For me Bitcoin is worthless. Just buy Bitcoins when Greg Mannarino tells it. It's just a game. Steem or Ether is the much more better option. They have real value.

"I have not seen any product up to now with such a steep graph, but Bitcoin is following the steepest path I've ever seen in my career," Roach said, noting that Bitcoin is the hardest moving financial product he has seen up to now.

Bitcoin, which has gained more than 11 kattan since the beginning of the year, ran to the limit of 12 thousand dollars. The crypto currency, which has been experiencing very hard ups and downs in the recent period, continues to record series against all warnings.

The market value of Bitcoin is past the total national income of many countries and the market value of giant companies.

@slayer10..."continues to record series against all warnings"...It's an other game with the futures now. I wouldn't bet on that. Change Bitcoin to Steem or Ether. Steem and Ether almost recoverd already. But not Bitcoin.

Bitcoin might be valuable as a store of value or it should be but lately it's been too volatile

@joeycrack...Till 2-3 months ago I thought, maybe it could be a store of value if all the world is focusing on Bitcoin. So Gold would be history. But it can be forked. That's the killer. I'm 100% sure about this now. And as money Bitcoin is not usefull (slow and expensive). So there is no need for Bitcoin. Steem and Ether have real value. They almost recovered already, but not Bitcoin.

Steem and Ether have real value.

@mafsteem, Please can you throw more light on this, would love to know why.

We've come to accept bitcoin as the mother of all cryptocurrencies, and it is also used to get altcoins. So is Ethereum taking over? Steem and steem dollars doing pretty good. I have friends that have invested in steem without knowing about steemit.

  ·  2 years ago (edited)

@jeline...First, Bitcoin could still keep the leading position. But just because people still beleave in this. Because Bitcoin was the first. There is no other reason. That's too risky for me. Steemit everybody can see here. It works. It's the only application it is used on this scale. I'm convinced about this application but not 100% about the security of the blockchain-principle (graphene) behind. I follow this regularly to get more infos about that. Ether has also applications they are in use every day. For example ICO. And also AXA (big insurance company) is selling flight insurances over Ethereum and many others. But each one of this applications are not so big like Steemit. Steemit couldn't work with Ether because it would be much too expensive. But the security is 100% sure with Ether-Blockchain. I comprehend the principle behind. Very secure. I could go even more in detail. There are no other Coins they have applications in the real world. So I focus on Steem and Ether. Maybe one day I see that the Blockchain-principle of Steemit (graphene) is as secury as Ether. Then I would change everything to Steemit or Bitshares or EOS very fast.

@mafsteem, I get you now, so when it comes to cryptos, security is the first check right? Do you see ethereum passing the $10,000 mark next year by this time, like bitcoin did, and steem approaching $1,000?

Steem seems very promising and ether also, am looking to invest once I can

But at the moment it's seems like a bearish correction looms let's see how it goes to recover

@joeycrack...I think the bearish correction is already done.

Really? So what do you think is goin to happen next

  ·  2 years ago (edited)

@joeycrack...Example with Ether. Ether dropped from 857$ to 560$ the 22 of Dec. I'm quite sure this was the bottom. Then it went up to 740$ and down to 610$. Now again up to 740$. Now I would wait to drop again around 650$. It can be in this range for a couple of weeks but 1 day it will rise abouve this range. I wouldn't wait too long to buy this opportunity. Probably it will be the same with Bitcoin. As you know, Bitcoin I don't touch.

As you know, Bitcoin I don't touch

I didn't know, so why don't you touch bitcoin? Because am considering not touching anymore

@joeycrack...80% of Bitcoin-miners are in China. This way China could manipulate Bitcoin. Bitcoin is slow and expensive. Bitcoin can get forked, so it is not unique like Gold. Bitcoin is under control of the futures now. This is very bad. I don't see any long term value in Bitcoin. Very risky.

Thinking the same. Everyday a new crypto coin is created - so that does not make it unique and all that seldom. Upvoted and resteemed.

Bitcoin value is it's "limited availability," 21 Million with over 2 million lost Now thats limited supply for 7 billion people

Thank You, Gregory. Hope to see you soon on your market wrap-up. Resteemed Upvote

thanks for sharing about bitcoin.

Very necessary post .follow,upvote amd @resteem post

Resteem and upvote now sir:)

Resterm and upvote done @marketreport

Resterm and upvote done.

Greg, we agree with you and we did upvote and resttem for all to see

Wow! Lots of great posts by you today, Greg!
Keep it up!
Upvoted and resteemed.

That’s 100% correct!
Resteemed & upvoted

Well Stated.

Upvoted and resteemed

Resteemed and upvoted. Thx Greg!

i like your post. resteem done.......... @marketreport...........///////////

Thank you very much for that is a valuable post on Bitcoin

Great job
Resteemed & upvoted

Sir resteem & upvote done!

I agree wirh you. Bitcoin coin has become a prizeless juwel because of limitation in the currency market.
upvoted and resteemed.

Year your are right sir.Lets see what happenned next.

thanks greg, upvoted and resteemed....///////

upvoted and resteemed

Bitcoin, Bitcoin, Bitcoin... lol
Re-steem and upvote... :-)
Thanx for info

I'm really surprised that people follow you and yet do what you counsel against. Why follow you then? Thanks for your insight, upvoted and resteemed.

Whomever created bitcoin may have envisioned a few eventual usurpers, but I would be surprised if they pictured this many cryptos in this short timespan.

upvoted and resteemed sir

thanks for sharing about bitcoin.
upvoted and resteemed.

It is about making you think from a different perspective..thanks for blog

resteemed completed

resteemed and up voted done...

very informative post like it and upvoted!

%Resteem and %upvote done sir

its because of its popularity....

Dear sir i always follow you and your post always good:)

Supply is half of it I thought..demand the other half. :)

Bitcoin may be important as a store of significant worth or it ought to be yet of late it's been excessively unstable

Resteemed and upvoted

Bitcoin may be important as a store of significant worth or it ought to be however of late it's been excessively unpredictable

Upvoted and resteemed

  ·  2 years ago (edited)

Bitcoin, Bitcoin, Bitcoin... lol
Re-steem and upvote...thanks for sharing..

Greg, we agree with you and we did upvote and resttem for all to see..thanks

I see your website, good information. upvote and resteemed done. thanks @marketreport

You have discussed Bitcoin well. resteemed Done @marketreport

  ·  2 years ago (edited)

@upvot@resteem

  ·  2 years ago (edited)

Thank you very much for that is a valuable post on Bitcoin..upvot +resteem

well done greg.have a great christmass day .

upvoted and resteemed.

Upvoted and Resteemed.

Like all balloons exploding...Prices will fall and see the biggest loss that makes the most recent investment. There is no doubt.

  ·  2 years ago (edited)

That’s 100% correct!
Resteemed & upvoted

Excellent information thanks for sharing sir
Resteemed

resteemed and upvoted

wonderful post, right concent.

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A lot of valuable things you shared with us. We are very worried about the bitcoin because today the prices of bits have come down a bit, but after listening to your words, why can not we get Bitcoin prices so low that the price of Bitcoin is now going down and the price will be reduced The city I do not understand. If you used to tell me a little bit about whether Bitcoin will reduce me or not, then I am very subtle I used to be

I would not recommend putting any money into bitcoin that you are not willing to lose. My personal take is that one or many of the tech stacks in the crypto currency space will be with us for the rest of our lives and those that support there implementation will be rewarded along with those who create them. Bitcoin will rise and fall based on how useful it turns out to be. If it is not used in the west aka "first world" it may end up being the money of the third. Suffice it to say you should figure out your tolerance for volatility and your buy sell points. Don't fall in love with money or investments, they will never love you back... One other note. The limit on number of bitcoin at 21m only tells you what % to total supply you have. AKA 21 would be one millionth of the total supply... What is available at a price and time may be much less than the total and in general bitcoin it is not widely held. Finding a buyer when you want one may be a challenge.

Sure. I wouldn't say it has value BECAUSE of scarcity, but I'd say that's a huge added bonus on top of application and demand of course.

  ·  2 years ago (edited)

IIt is about knowing people and their side of the story..
@upvote

http://www.unicode.org/L2/L2011/11129-bitcoin.pdf this tha symbol storically, similar looking Unicode symbols such as the Thai Baht (฿) have been used because the Unicode standard at the time had not included a symbol for Bitcoin.

very nice information.....

That you post has the post many important information, which for me is very useful. We want to like this important information with you with US to be, we are with you were, are to be. This post through I something new found out. So beautiful a posts to thank you.

thanks for upvote and restem

I quite agree wirh you. Bitcoin coin has become a prizeless juwel because of limitation in the currency market. I follow and upvote you.

Today I was happy to see your post today. Because you give new information.
These information takes many benefits to us.
It's great to see your post today. I would like you to be good today. @marketreport

Fees, fees, fees. As soon as a good exchange opens up USD markets wider, I think BTC will be in more trouble. Take bittrex... The coins offered are very limited unless you deal with BTC.

Upvoted and resteemed done...

How joyful

Nice post sir. Upvote and resteem done.

You always upload importance post thanks for sharing

bitcoin more than better to gold coin becouse this coin we can buy @resteemed

Thanks for giving us your important onformation.Upvoted and Resteemed.

thanks for support us greg.
upvoted and resteemed.

wow well done sir.
Upvoted and resteemed.

upvoted and resteemed.

The currency information can not present anyone like you. I think you're the best. @marketreport

  ·  2 years ago (edited)

Bitcoin might be valuable as a store of value or it should be but lately it's been too volatile.
upvot+ resteem your post alredy.

  ·  2 years ago (edited)

Bitcoin might be valuable as a store of value or it should be but lately it's been too volatile.
upvot+ resteem your post alredy.

Resteem and upvote always your post.........////////////

Resteem snd upvote

  ·  2 years ago (edited)

upvote and resteem this post

Your report is so informative...thanks for your vedio...upvoted

upvoted and resteemed..

It is about keeping yourself motivated to write better..
this really good

  ·  2 years ago (edited)

Excellent post Resteem and upvote your post........///////

Hope to see you soon on your market wrap-up. Resteemed Upvote.
thanks for sharing

this blog is really nice
your thinking and creation is so nice
i upvote @resteemed you can see

This 2 points are better then Gold. But there is a 3 point. Bitcoin can be forked (Bitcoin Cash and more).
this is really nice
@upvote

Sir resteem & upvote done!

  ·  2 years ago (edited)

i awaloys resteem and upvoted your post ... @marketreport

i resteem and upvoted... @marketreport

nice post upvoted and reesteemed thanks

Bitcoin, Bitcoin, Bitcoin... lol
Re-steem and upvote...thanks for sharing.

upvote & resteem
thanks for @marketreport

  ·  2 years ago (edited)

Thinking the same. Everyday a new crypto coin is created - so that does not make it unique and all that seldom. Upvoted and resteemed

  ·  2 years ago (edited)

Thank you very much for that is a valuable post on Bitcoin..upvot +resteem

First Wallstreet banksters came for control of their bitcoins, then they came for the money they speculated in bitcoin with, then they came for their hopes, dreams, and ambitions. cryptocurrency may challenge central banking instead of gold.
Their butthurt is so great, they'd rather see jooish central banking paper pushers remain in control.

sorry to late , upvote and resteemed done @marketreport

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