Little ole @primeisgettingcomfortable cancelled his account. Look at his postings in this thread, and i assume every other thread, and see how wrong he was. Embarrassing. It was probably an alt account for one of our resident retards.
Bitcoin - don’t look now crossing $44,000
- Thread starter OleFastball
- Start date
Little ole @primeisgettingcomfortable cancelled his account. Look at his postings in this thread, and i assume every other thread, and see how wrong he was. Embarrassing. It was probably an alt account for one of our resident retards.
When will the demand for BTC subside? I just don't see it happening anytime soon. Demand still far outweighs supply.
The world is waking up to the fact that fiat currency is shit. Government's around the world are stealing from you via inflation. Buy Bitcoin.
The world is waking up to the fact that fiat currency is shit. Government's around the world are stealing from you via inflation. Buy Bitcoin.
Its not too late either.
Michael Saylor is predicing a price of $13mm a coin in 20 years. The price won't be linear. There will be ups and downs. But you will still far outperform the dollar over the next 10-20 years by buying BTC for $100k. Just my $.02
Michael Saylor is predicing a price of $13mm a coin in 20 years. The price won't be linear. There will be ups and downs. But you will still far outperform the dollar over the next 10-20 years by buying BTC for $100k. Just my $.02
What’s the endgame? Exchange all of your spare dollars to Bitcoin and hold until it becomes mainstream and we do all of our transacting with it like we do the dollar now? If the value goes up that much won’t Bitcoin be the thing that makes up the majority of 99% of any given persons wealth? Isn’t that unhealthy for everyone’s net worth to depend that much on something so volatile? Or is the thought that at some point it will be too big to fail if we’re all in that same boat?
Or maybe the endgame is to just sell it once its value reaches a certain point and exchange it for a lot more dollars than you bought it for? ie just 1 big pump and dump
Not trying to scrutinize anything you’ve said these are just questions I have as someone who doesn’t understand
The end game is a new asset class.
BTC is itself an asset class. It’s an asset with finite supply.
No, I don’t see BTC as a daily transacting tool. It’s an investment vehicle, like an etf. (the bitcoin lightning network is being developed to handle daily transactions)
It will compete against national currencies and their ability to print fiat.
The end game is you hold BTC until you need your dollars. At which point you sell you BTC for dollars and use them.
What is the point of holding dollars when it is the stated intention to make them worth AT LEAST 2% a year less. In 2022 your dollar lost 9% of its value to inflation. The government is stealing from you, you just don’t realize it (or at least taxing you a lot more than you realize. Inflation is hidden tax)
And the scrutiny is welcomed. I enjoy talking about it (obviously). It’s a topic that makes you think and one that I think can make you very wealthy. It’s a nascent technology, of course it’s going to be volatile.
One day, 20-30 years from now the volatility will be much lower. As it is, it is still not understood.
Good deal, glad to hear you welcome any scrutiny and if any comes from me it’s not trolling or trying to be argumentative. Would it be fair to label it as digital gold/silver? And if it really isn’t intended to be a daily transacting tool is the fact that it’s “currency” kind of just propaganda to make it seem more useful than it actually is, therefore luring more people in and driving the price up?
Regarding your question about holding dollars, I can only answer for myself but I don’t hold dollars as an investment strategy. Like most people I have an emergency fund in dollars and that’s about it. My households extra dollars go to paying down debt, saving for my kids education, and adding to the brokerage account. But hypothetically if I ever did decide to hold dollars beyond an emergency fund it would be to have them ready for a possible buying opportunity. And I would just accept the downside of their value going down year over year because nothings perfect and everything has a downside.
Is it fair to label it a digital currency? It is that plus more. Since it’s Not just a currency, that puts it in a class of its own in my opinion. Look at it like a brand new asset class.
You hold dollars as an investment strategy you just don’t notice it.
Previously you didn’t have much reason to trade out of your dollars because the dollar has been king for the duration of our lifetimes.
But what happens when a better dollar is created? If not better, at least something that can compete?
The only competition previously offered has been from competing countries and their fiat (inflatable) currencies. They have always been inferior to the dollar.
Never have we had competition from a truly decentralized source. It was never possible before. So now the market must find out the value of this asset and we are currently in that process.
Fair enough about the market finding out the value. How does buying stuff with Bitcoin work? Are there certain goods out there that are listed for sale in Bitcoin?
I’ve bought a couple things with Bitcoin. You just have to find another person interested enough to exchange with.
I personally just have an app on my phone. It’s just like another banking app. Bank of America, Merrill lynch, and my bitcoin hardware wallet.
It’s getting easier to use every day. It’s a touch complicated but nothing you can’t teach yourself in an hour or two. But, it’s worth your time.
Try using it a couple times and maybe it helps one understand it.
FWIW- I don’t think BTC will ever be an every day currency. Again, it’s a new asset class. If you look at the math, it can’t handle the pure volume of transactions. That doesn’t mean they can’t build on top of BTC. This leads to the BTC lightning network.
Just think of BTC as the backbone upon which more technology will be built
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Cartels do not use Bitcoin, they use Monero and Pirate Chain, your aaaarguments about Bitcoin are funny.
Bitcoin can be anonymous and can be stored off the internet in hardware wallets, transported anywhere in the world and plugged into a computer to transfer funds or withdraw from a bank into hard currency. Only the transactions into a marketplace from USD or back into USD when cashing out are traceable by back doors into Coinbase, Gemini, Binance, and such.
The government can see when you buy/sell your Bitcoin, but if you keep them bouncing around from wallet to wallet, it is anonymous, and they reason they were able to seize the Bitcoin is due to seizing the computers where the keys were stored. There is currently nobody known to the public that can hack the BTC encryption. That is why it is the most secure network in the world to transfer money.
Just to be clear, all transactions are visible to the world at all times.
We may not know who owns the wallet, but you can see the transactions from all wallets.
And for the record, the US Government can track almost anyone using BTC. Don’t go thinking you are anonymous, unless you take several extra steps like washing your coins, using a separate wallet for each transaction etc
My point is, BTC can be anonymous, but iys not as anonymous as most people think. You really have to work at it and the US Government has put a lot of $$$ into tracking it.
