Bitcoin
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- drgs1
This top indicator, supposedly very accurate, -/+ 3 days error
https://www.lookintobitcoin.com/…If this bull run is to make any sense (it should go all the way up to 100k+ at least), we need to hold back a little, because the indicator is converging very quickly (probably in 2 weeks, not sure if we can do 50k->100k in two weeks)
Debate
- yes hoping for a pull back to slow things down.inteliboy
- https://youtu.be/78U…inteliboy
- It'll be on a thursday, 25. Pull back from 60k+isaca
- NBQ00-1
- The countries that ban it will fall behind those that encourage it. Just look at countries that try to control internet vs those that are open it.shapesalad
- Eg, the big global internet services, google, facebook, instagram etc, PayPal, all come from USA. China banned them, copied them - but who benefits more?shapesalad
- How many people want to move to china to work in a startup at the bleeding edge? VS silicon valley. Who innovates? Who copies and plays catch up? Who has fear?shapesalad
- For sure. But if Bitcoin threatens the US dollar I doubt the US-Gov will just watch and do nothing. After all they invaded countries who ditched the dollar.NBQ00
- you cannot ban bitcoin, you can only ban yourself from using it.ESKEMA
- NBQ00-5
I don’t want to chase Bitcoin now but if it does go up to 120K-150K on this wave I will look into some ETF’s or Futures to short via Options.
According to the logarithmic chart it will go down again after hitting $140K’ish, down to around $25K’ish. Around end of 2022 or early 2023. That’s where I’ll pick up Bitcoin and other alt-coins again. Then Bitcoin should rise to above $500K-600K on that next cycle.
We shall see, if things go that way.
- Only drgs knows for sure thanks to his messy charcoal chart model :)NBQ00
- i trust bennnrenderedred
- you won't though. everyone will take about bubbles. and laugh. and mock the end of a crypto fad.inteliboy
- I've watched it happen 3 times on this very thread already.inteliboy
- this time is different. Institutions are here. It will probably be a supercycle. Don't be stupid. You will get rekt.ESKEMA
- you me and bunch of others who have watched a few YT videos are also planning this...until too many people plan it and it no longer works.shapesalad
- Yes probably. But then again so far the logarithmic chart worked out precisely.NBQ00
- the models work because the environment was the same. When the environment changes, the models get destroyed.ESKEMA
- all the Nokia, Samsung, Sony, Blackberry, etc models got destroyed once the iPhone arrived. just sayin..ESKEMA
- nb0
The real question is, ARE institutions truly here yet?
- we'll find out soon enoughESKEMA
- No. But when they are in... you will notice a price difference.AQUTE
- @eskema now you sound like a broken bot...jonny_quest_lives
- i just can't dismiss paolo and his tethers out of hand nor can i dismiss the majority of BTC mining is done in China...jonny_quest_lives
- for a decentralized currency/asset/ store of value or whatever we call it this month it seems awfully centralized/manipula...jonny_quest_lives
- as for institutional investors it totally can happen as we've seen stock markets and companies will fuck over anyone for profit even with regulations.jonny_quest_lives
- it's just weird that i see the same behavior/bravado as the dot com bubble at play here... rampant hype but when someone asks questions about how...jonny_quest_lives
- exchanges function/backing. why tether is needed at all as one should be able to buy btc direct/otc on an exchange no one provides clear insight.jonny_quest_lives
- also what does buying in at these prices accomplish? buy in at 58k cuz I'll miss out at 65k? this is not a market norms can play in.jonny_quest_lives
- i guess i missed the point of this thread... i mean if everyone here is just trading and all in I'll avoid posting a counterpoint.jonny_quest_lives
- just figured you'd have a better source for that kind of btc hype/investment club than a reclusive design sitejonny_quest_lives
- @jonny NOW I realised your id is that cartoon show by Hanna barbera from back in day, wanna rewatch that lol
also your above points are valid too!grafician - @grafician always loved the style of the cartoon... Venture Bros skewers the show pretty good https://youtu.be/0o_…jonny_quest_lives
- Unlike the stock market, Bitcoin is a zero sum game. If Institutions are here to make money, someone else have to lose, and its going to be retail.drgs
- Krassy1
Elon needs to send a tweet
- His mind is elsewhere https://www.tradingv…drgs
- well, the 2 are now closely relatedKrassy
- Nairn1
"Attorney General James Ends Virtual Currency Trading Platform Bitfinex’s Illegal Activities in New York"
- sarahfailin0
Elon Musk’s Bitcoin Tweet Hurts Tesla’s Own Bet in CurrencyElon Musk has upped his Twitter game, sending holders of Bitcoin and Tesla Inc. scrambling during another bout of self-reflection.
The world’s richest man helped to send the prices of both tumbling Monday in the wake of his weekend comments that the prices of Bitcoin and smaller rival Ether “do seem high.” The tweet came two weeks after Tesla announced it has added $1.5 billion in Bitcoin to its balance sheet, triggering a 50% price jump in the already surging digital asset. Bitcoin climbed off its lows of the day, while Tesla closed down 8.6%.
- he isn't allowed to say anything about the tesla stock, so fuck all.sted
- shapesalad0
https://uk.finance.yahoo.com/new…
Square buys $170m more Bitcoin. Probably very pleased with the discount price they got thanks to Elon.
- yuekit0
- Ignore the cover image lol...some interesting stuff here about how people collude to manipulate the Bitcoin price.yuekit
- yeh box mining is good. . good content. a lot of these crypto guys admit to being forced to do these bad thumbnails otherwise get no views.inteliboy
- god it's painful to listen to this salty dweeb.shapesalad
- Hayzilla0
The thing I don't get with bitcoin is (I know i'm thick). If the value keeps going up and up who is actually going to adopt it as an actual currency? Say if I paid Amazon 1 bitcoin for a pair of headphones 3yrs ago. Those headphones basically cosy me £40k in the long term. What don't I get?
- it's growing in value. it's true price will be found in relation to USD and fiat currencies. It's true value once realised, will be a lot highershapesalad
- due to supply / demand. It's currently on an adoption curve. But as more companies put treasuries into it, the high and less risky it becomes.shapesalad
- it then becomes seen and used as a 'digital' gold, a hedge against fiat and a means for large 'values' to be exchanged easily compared toshapesalad
- liquidating property quickly, or transferring billions of gold across the world.shapesalad
- It's true use and function is yet to be met. So while it seem volitalie, gambling, risky, we are still at a very early point in the adoption curve.shapesalad
- still lots of upside, on threats are a rival coin of better use... but in 10 years many have tried and failed.shapesalad
- it's not meant to replace currencies in the normal way. ETH is better served for those purposes.shapesalad
- I'm not saying the ponzi is going to crash, I'm just saying the adoption mantra is not workingdrgs
- it took credit cards about a decade back in the '50s to be adopted, while bitcoin is here for 12 years and still a ponzi...grafician
- here, read about credit cards: https://www.thoughtc…grafician
- bitcoin started as a decentralized replacement for money, now it wants to replace gold, then in a few more years wants to replace...what? useless junkgrafician
- btw bitcoin is not decentralised when bulk of mining is run in/by Chinagrafician
- ESKEMA1
^^ Simple explanation
It doesn't cost you more, you pay the "correct" value at the time of purchase.
Bitcoin is volatile, but extremely stable at exchange time.
Right now, it rewards those who hold it for a longer time because it's still very early days, it hasn't matured to the point of price stability like gold for example.
Forget all the narratives for currency at the moment, for now, it is better used as a store of value / savings mechanism because it's still in price discovery and will be for the some time- Thanks mateHayzilla
- all true what eskema says.shapesalad
- All true but very wrong: it is backed by what exactly? USD? If hyperinflation hits and it will hit sooner than later, your $50k bitcoin will be worth nothinggrafician
- while gold/commodities and real assets will skyrocket in valuegrafician
- ESKEMA-2
But even beeing volatile, it is the best form of money in existence, and is beeing used as the backbone for international settlements.
Fo example, Strike (https://global.strike.me/) is using Bitcoin and the Lightning network to enable instant payments anywhere, with any currency, which is something that takes weeks or months and lots of fees to accomplish in our current system. How do they do it? When you make a payment in your own currency, Strike in the backend buys bitcoin, sends it via Lightning network across the world to where the recipient is located, sells the bitcoin for the local currency and deposits it in the other side's account. All Instantly and without fees. Neither party needs to touch bitcoin but it's the underlaying technology allowing it to happen. So, even if people don't use bitcoin to buy stuff, it will be used as the settlement layer.
- drgs9
"it's still very early days"
It has been 12 years. A person can be conceived, be born, earn part time money delivering newspapers, and lose it all in BTC during this time.Imagine you are a car merchant. You sell a car for 1 BTC (which by chance is the "correct" BTC value at the time of purchase). The next day BTC dumps 20%.
Imagine you want to buy a car. You pay 1 BTC. The next day BTC pumps 20%.
A currency is only useful if its stable, not at the time of purchase, but just holding it in general.
The world sees absolutely no urgent need to adopt it, because Bitcoin fixes nothing.
Bitcoin is for gambling, like internet is for porn. It is its only use
- Bitcoin is a store of value rather than a currency at this point. Look into stabkecoins such as DAI.zaq
- lol 12 years on and still going on as if btc is a currency.inteliboy
- everyone is free to do whatever they want. You do gamble, I do savings.ESKEMA
- I remember 5 or so years ago there was still a lot of talk of it being a currency, even small local shops tried to accept Bitcoin.yuekit
- It's not a currency. It's a store of value, and only a fraction of the world has started to get that, hence fluctuations in price.shapesalad
- You are welcome to keep cash under your mattress, or exchange it for property(with on going maintenance costs), gold/silver(make sure you have it in handshapesalad
- and stored in a good quality safe), or bitcoin - easy few clicks to buy, a usb stick to store. Easy to liquidate, store and transport.shapesalad
- Can not be seized by government, can not be manipulated by a central bank or government. If you had a few $m to $b where would you store that value?shapesalad
- Of course you can buy stocks also, and value investments stocks that pay dividend and have no debts are arguably a good alternative to bitcoin.shapesalad
- But both serve different purposes, hence it's with putting 5% of your portfolio into BTC, rest in long long value investment companies with moats.shapesalad
- Fooled by randomness********
- if kid keeps the worthless coins, he‘ll be set by 20...if he sells them at low price he‘ll learn also a lesson. no difference.uan
- Except for your last porn analogy I agree.SimonFFM
- Correct. It has to be converted to a currency.Hayoth
- It's a pisspoor way of storing value, it's been incredibly unstable and it looks like that's a built in feature. Central banks were invented for a reason...zarkonite
- If the ground under your house was as unstable as bitcoin no one would say they have a safe home. You'd fucking move.zarkonite
- I think you should think in decades / generations not in years. these days regulation makes a currency stable. this is what's nowhere with bitcoinsted
- I'm having a lot of fun spreading it about a bit more now. I just had it sitting in bitcoin for years (not a lot 1kish). had written it off after the big crashfadein11
- its now double. (yes I was late to the game)
and it's kind of fun playing with the volatile coins. made more today than just leaving it in bitcoinfadein11 - imagine if that person held bitcoin for 12 years, it would be a very poor person today right. Those poor people that held for 12 years are now rekt.ESKEMA
- right?ESKEMA
- @ESKEMA even the real Michael J. burry is against the BTC bubble, you're basically signalling you have zero morals lolgrafician
- https://coinspice.io…ESKEMA
- yuekit3
Even putting aside the price stability issue...ease of use, speed, scalability, reliability, security seem like some pretty basic expectations people would have for digital payments.
Is there a cryptocurrency that currently offers these things? I think the decentralized aspect of crypto actually works against it. Large institutions like VISA and PayPal are able to offer fast reliable digital payment networks because they are large institutions.
IMO that's why Facebook's Libra project (or whatever they are calling it now)...with all these big names behind it, was seen as far more threatening than Bitcoin by the government.
Maybe it will all change in the future as the technology improves but right now it's hard to imagine a decentralized digital currency competing with a centralized one in terms of mass adoption.
- Visa and Mastercard are not instant. The payment is, the settlement is not, that's why you have chargebacks and payments blocked for monthsESKEMA
- It will get faster, it will get cheaper, and it will get easier to use. Same as Internet speed was 56K in the early days.zaq
- I see blockchain not as technology improvement, but rather power disruption. Old money and power has little control over it.zaq
- https://cryptobriefi…BH26
- @zaq What I meant is that as fundamental technologies improve... computing, internet speed, energy efficiency... it may become more viable.yuekit
- Right now it's an insanely resource intensive, inefficient way to buy a cup of coffee. For investing it makes sense, not so much for everyday payments.yuekit
- shapesalad1
- worth you lot getting your head around this and why it beats gold as a store of value.shapesalad
- assuming it's an asset why is an asset with cyclical crashes a "store of value"?jonny_quest_lives
- what the video. It's more than a store of value, it's a ledger of value that is incorruptible. Unlike the $.shapesalad
- drgs1
More downside to 41k? Let's try this https://imgur.com/a/Yb2ThGN
- DaveO2
Until it truly stabilizes with minimal fluctuation it is impossible for me to think of it as a mainstream currency.
How could regular people ever sleep at night knowing that the 'money' they have is constantly going up and down? It'd be like having all your money in a volatile stock that is always bouncing around.
It's an amazing philosophical paradox. If a single bitcoin is worth $50k in New York, how much is that worth in Nairobi? The equivalent of $50k? So the value will always be tied to a 'real world' currency?
I would love to read an Alain Du Boitton analysis of it because its quite fascinating when we examine what anything is worth.
My dad always said that something is only worth what someone else is willing to pay for it. Kinda feels even more true with BTC!
Unless all currency in the world is Bitcoin i don't see how it isn't always tracked back to a fiat currency.
Still – the fact that a mythical character invented it and computers 'mine' the currency is so cool and futuristic, still can't get over that.
- It’s not your house that gains value year after year. It’s the dollar that is not worth as much.BH26