OT- Bitcoin
- Thread starter redwine65
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I'm more curious this cycle about where Eth ends up bottoming out.
Btc might go down to 13-14, (already at 16) but Ether with their POS change, will need to be tested again. If the network hadn't changed, I could see it go down to 450-500 bucks. But with the change, it's possible it goes lower.. maybe $300. That would be a golden buying opportunity for Eth.
Btc might go down to 13-14, (already at 16) but Ether with their POS change, will need to be tested again. If the network hadn't changed, I could see it go down to 450-500 bucks. But with the change, it's possible it goes lower.. maybe $300. That would be a golden buying opportunity for Eth.
If Bitcoin hits 3.5k I will sell the house and put everything I got in.
Do you have any data that can back up this claim, because it is honestly a dream come true if it actually hits that low.
I am not trying to be a ass hole or anything, but unless crypto tanks completely (This is said at the bottom of every crypto bear market by the way!) I don't see it lower than 13-14k
Bitcoin plunges more than 11 percent to fresh lows for the year
Bitcoin continued its December downward tumble, falling more than 11 percent against the U.S. dollar in 24 hours.
This an article that was exacly 1yr from the all time high in December of 2017, and was coincidentally the bear market low of 2018. Again coincidentally we are exactly 1yr from the 2021 All time high of 69k
What happened next you ask after that article was published? Crypto started climbing again until the Covid dip in March of 2020 (almost hit a new low, but didn't)... then the bitcoin halving hit in May of 2020 and then boom off it went.
The point is Bitcoin never got lower than it did in December of 2018 and I don't see it getting lower than November of 2022. NFA, but I got a shit ton of data to back up my claims. I have been loading up and DCAing on crypto since Bitcoin dropped below 30k.
Happy Investing folks, I have been studying this market very hard. My claims are based on a lot of research... not Fear, Uncertainty and Doubt that is projected by the SEC and media. US government owns 214k Bitcoin... It isn't tanking to the 2018 low, I'll bet you anything you want to bet
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One more article for ya... my favorite line from this December 21st, 2018 article
"This is a legitimate technology–it’s going to expand,” he says, “My longer-term view is nowhere near where some of [my current] views are.” It could even perhaps hit $10,000 again, he says. But that will probably take a few years. For now, we wait and see."
Oh how wrong he was... want any more proof that the same doom and gloom talk happened 4 years ago?
'nother 4% haircut this morning. Yikes. Remonds me of the Grease skit..."How low can ya go"....
Man Who Lost Everything In Crypto Just Wishes Several Thousand More People Had Warned Him
CHICAGO—Saying he had been absolutely blindsided by the sudden change in his fortunes, local 33-year-old Tyler Branton, a man who lost everything in cryptocurrencies, told reporters Thursday that he just wished several thousand more people had warned him. “If only a thousand—or even a few...
www.theonion.com
I am actually sorry when any retail investor loses money in the market, my post above is laughing at BTC, not at the people holding a large bag of excrement (Thank you Jeremy Irons)
Seems like every month a crypto exchange dies and fraudulent activity follows. That feels like a crypto issue to me, not just issues with the exchanges, because their business is all about Crypto....at least that's how I feel about it.
That's how you feel about it because you don't understand it.
When you log in to your bank on the website, you see your balance. It's the same with a crypto exchange (for those that keep their money on an exchange)
If the bank goes bankrupt, or if the government decides to take your money (see Greece), or the exchange uses your funds to trade and loses, (which is what banks do) you are out of your money. FDIC insurance is a scam, so don't count on that.
In fact, the money in the bank isn't even legally yours once you deposit it. You are an unsecured creditor of the bank and the funds are now legally theirs.
So when you store your crypto on an exchange, it's the same thing.. letting another entity be the custodian of your funds.
The whole purpose of crypto is that you yourself control the address and the private keys to that address. Nobody can take it from you, not even the government. That is the whole point of it.
But you wouldn't know this, because you spout off all kinds of bs showing just how ignorant you are.
Good luck convincing the average Joe that it is legitimate. I've read that tether is at risk of failing next. Sure does feel like one gigantic Ponzi scheme
Disappointed to read your last paragraph. I wonder if you hold some BTC that cost more than it is worth now? That is the only thing I can figure after that unprovoked personal attack.
I understand everything you typed. I understand how it works (didn't always, I do now). Don't own any, never have....my thought process is very simple....The exchanges and BTC go hand in hand (to me anyway, you are free to disagree), as one goes, so does the other. The whole crypto and especially BTC is fake money that operates with some really shady people behind it, in parts of the world that are out of legal reach, run by low lifes who are getting caught every month stealing people's money...literally every single month a new FTX scandal story pops up, and they all got in trouble because they started with a foundation built on sand (fake money). Not saying you can't make money with it, or that you can't spend it....but to me, it's completely fake and has cost a lot of get rich quick seekers to get financially pummeled.
Warren Buffet:
If you ... owned all of the bitcoin in the world and you offered it to me for $25, I wouldn't take it," Buffett said. "Because what would I do with it? I'll have to sell it back to you one way or another. It isn't going to do anything."
He described his views on farmland and rental properties versus bitcoin as "the difference between productive assets and something that depends on the next guy paying you more than the last guy got."
I don't own any btc at the moment. You're completely wrong on a lot of aspects of this. Calling someone ignorant is not a personal attack. That word is used for someone who is not educated on a topic.
You continually make false accusations about bitcoin on this thread, so you put yourself out there as a target. You mock and laugh at people and make fake claims. I have tried to educate you and others in the past on this thread, but I can see that my attempts were in vain and not appreciated because you have your mind made up already.. and no, I don't appreciate you calling the people building the technology low lifes.
Maybe you should focus your angst on the traditional wall street people who are poisioning the market.
It was said in 2018 on the way down that it was a Big Ponzi scheme. Here we are again saying the same BS. If you keep listening to the naysayers you are going to continue to miss out on opportunities. If you would have bought Bitcoin on this date in 2018... You'd still be ahead as low as we are now. February 2018 high was 11,500 and Bitcoin is currently 15,700.
Since you probably paid attention to that nonsense then, just like you are now. You missed out on 5x'ing your investment and cashing out in November of 2021 for 69k.
You keep listening to the FUD, I'll keep doing my due diligence and researching things myself.
Bored Ape Yacht Club floor price is 65 ETH. Ethereum Price is currently around $1k USD. So they are selling for about $65,000. If Ethereum was at the all time high price like when the general public were listening. 65 ETH would be $315,000 if Ethereum was at it's all time high of $4868 USD.
Remember 65 ETH is the floor price, and there are plenty that are selling for well over 100 ETH. So the point is no they are not dead they just aren't worth as much, because the market is down.
Read an article this morning that said over 50% of people holding BTC are upside down, yikes. I guess that's what normally happens in Ponzi schemes, but I still hope the small retail bag holders at least get their money back and then stay far away from this stuff in the future.
It is not really a ponzie scheme because no one is trying to take advantage of others. This is just people hoping they cracked the code and will make bank in something that has value for really now reason...
It is like all my Greg Jefferis Rated Rookie cards...
It is like all my Greg Jefferis Rated Rookie cards...
yeah nft's seem insane....I stay away...I suppose I could see them being used in productive way same as the metaverse...just have 1 (mvi) fund
I still think you can make money off it but it is clearly looking more and more like a hoax.
in a ponzi scheme folks don't exit, the top just keep getting more money.
really one could say the dollar is a ponzi scheme, with folks working their whole life then 0bama/biden printing half their wealth away and using quanitative easing to rob every last penny possible.
bitcoin is 21 million and no printer...and con men don't like that
my self I'm good with both the dollar and bitcoin and gold and russian eggs, and rembrants and remingtons in a biblical capitalist system.
I do think on / off ramps and bridges need policeing of some sort...
but if people are dumb to buy at the top, thats the risk they take..
really one could say the dollar is a ponzi scheme, with folks working their whole life then 0bama/biden printing half their wealth away and using quanitative easing to rob every last penny possible.
bitcoin is 21 million and no printer...and con men don't like that
my self I'm good with both the dollar and bitcoin and gold and russian eggs, and rembrants and remingtons in a biblical capitalist system.
I do think on / off ramps and bridges need policeing of some sort...
but if people are dumb to buy at the top, thats the risk they take..
- Leading crypto exchage Binance temporarily halted withdrawals of the USDC stablecoin on Tuesday.
- Customers have pulled over $2 billion in funds in 24 hours as concerns about its stability grow.
The above is todays headline, after they spent the last few weeks assuring everyone that everything is fine, and even had some half assed self audit that pleased nobody, to prove how solvent they were. BAHAHA. Will they be the next belly up exchange? We'll see.
the funds to cover everyone's deposits are not there.. the federal government would have to get authorization from the federal reserve (a private entity) to print the money, to return it to you.. so if this happened to a bank like say, Wells Fargo, or Bank of America.. maybe congress can appropriate some other budget money your way to cover 1/3 of the country's losses, or maybe not.. do you really want to chance it?
The federal government is more ponzi scheme than anything else. Every government is like this to some extent.
When Bitcoin hits new all time Highs in 2024, and they aren't part of it. Just sell some for your hefty profit, smile and wave.
As far as Buffets comments he doesn't understand it. He is only going to invest in what he knows and trusts. Nothing wrong with that. Read some of the articles I posted from the last bear market. It is the same story, and then people keep on cashing in.
Bitcoin is not a damn ponzi scheme, it is Web 3.0. It is going to change the way the world does banking, and going to replace the need for bank lending. There is a reason why Banks are investing in it, because if they don't they are going to be screwed. Smart Contracts take out the need for personal loans. Imagine buying a house, and not having to pay 7% for all the paperwork. All the necessary proof of your purchase is in the digital smart contract that cost a couple bucks to be put on the blockchain and verified all over the world.
Do some research folks this is not a Ponzi Scheme
Solid “currency” for illegal activities. It already has shown it’s not recession proof.. that being said the greater fool principal is alive and well and a lot of money (real cash) could be made in BTC.
It's weird how people can justify a price based off supply and demand for one asset, but not another.
Buffet didn't buy Google at $80 or Meta at $18. But he did bet big on Coke and Geico.
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