Somebody I never heard of just placed a one million dollar bet with somebody else I never heard of, that BTC will hit one million at some point in June. Somebody is convinced we ain't seen nothing yet in terms of hyper inflation.
OT- Bitcoin
- Thread starter redwine65
- Start date
I wouldn't wager $1M on anything, other than the sun coming up in the morning.
We are in rising inflation, probably about 17%, but not close to hyperinflation.
That likely occurs in mid-May or June. But, it's coming.
That's correct smartass. Now let's start analyzing figures of speech.
Like June as in 3 months or June 2030?
It will probably happen, but this June is too soon imo.
What usually happens to something with a limited supply and growing demand?
I thought Bitcoin was dead?
Jk
Short term fluctuations are fun. Could go lower but it sure seems like the floor is set.
Google it....you'll find it. Pretty big story and kudos to all who rode the crypto wave...I would not but you guys deserve your winnings for the risk.
This June is definitely a bit early for that, but 2030 will be on the down trend of the halving cycle. So it would be 2032/33 or 2036/37 if it happens
we may still get a retest of the bottom (at worst) or a dip down to 19-23K before breaking into the 30's.. if so, load up..
Don’t forget to bitch about all the money public schools steal from you in taxes!
100% total waste of money.
No shit...it is such a scam!
But, no one bitches more than farmers, I think we all agree.
You farm enormous douchebag? Kinda pictured you as more of a OSHA officer
As of today…
Year to date:
Bitcoin up 59.04.%
Apple stock up 59.85%
.
Year to date:
Bitcoin up 59.04.%
Apple stock up 59.85%
.
Last edited:
This is not the beginning of the Bull yet... just teaser time, but the lows happened at the end of 2022
I will say it again... now till March
Crypto Leaders Call For Infusion Of 20 Million Dopes To Stabilize Market
BOSTON—Stressing that the move would help keep digital currencies liquid through the coming year, crypto leaders called for an infusion of 20 million dopes Thursday to stabilize the market. “We’re calling for millions of bozos to be infused into the crypto market to stave off collapse and assure...
www.theonion.com
These dopes will be laughing all the way to the bank... oh wait that's right you probably don't get the pun thereCrypto Leaders Call For Infusion Of 20 Million Dopes To Stabilize Market
BOSTON—Stressing that the move would help keep digital currencies liquid through the coming year, crypto leaders called for an infusion of 20 million dopes Thursday to stabilize the market. “We’re calling for millions of bozos to be infused into the crypto market to stave off collapse and assure...
BTC is a trade, not an investment. How often do you see the govt giving up power. Yeah, first post.
I agree it's a trade at this point.. but I also think it's the start of the bull market, plus you add all the debt and financial suicide the US has done to itself, and it makes a lot of sense right now.
I don't see the govt giving up power at all, rather they are losing their control over the financial markets, every time they try to assert it.
Then why if I bought Bitcoin at $60k in ‘21 did it lose half its value ? Wasn’t Bitcoin supposed to be a hedge against inflation?
Not saying Bitcoin won’t outperform the dollar or even the s&p500 over the next 10 years, but I won’t be investing heavily until I see how it does in a recession. If it performs similar to s&p then I’m in, but id like to see how it does once we hit recession later this year.
Couple of things..
Bitcoin is a commodity, think of it like a digital gold. It is not meant for investment, but really to protect against inflation.
Secondly, there is a huge arbitrage and price discovery mechanism going on since it's inception, so there are big gains to be made via speculation and arbitrage. The volatility of which, continues to decrease exponentially.. meaning the dips aren't as deep, and the gains aren't as high (percentage wise).. think of it as a law of diminishing returns if you want to, but I would describe it more as long form price discovery..
The network continues to add users, and evolve, but in the future, bitcoin's price won't move very much.. only as much as inflation, if things are still priced in terms of fiat.
The stock market will still exist for actual investment.. however the underpinnings of the entire financial markets will run on blockchain.
This is exactly why I can't understand this shit. People keep trying to explain to me why it's the greatest thing ever but 90% of what they say can be simply refuted. And then I'm back to wondering how any of this is any different then a José Canseco rookie card, it's worth what someone will pay me.
I'm a skeptic but am open to changing my opinion here.
Where is the arbitrage?
The underlying tech, blockchain, has a lot of potential. That doesn't mean that BTC will live on.
The govt let this get away from them. Once the current admin figured out the severity of their problem, it was too late to make one big move to kill it. Now they have to kill it off slowly or risk pissing off a lot of voters.
I owned a lot of eth but exited my position as I couldn't see a future for it. It's safer for me to speculate with land.
I will try to explain it in layman's terms
Bitcoin is still relatively new, and you have so many people out there (like you) that just don't understand it.
So
Gold gets it's value based upon its scarcity. There is only "x" amount of gold, and when the inflation goes up gold holds stronger than traditional stocks but is does go down as people tend to sell when they need more money. That typically happens when people have to pay more money for things and are living off investments (typically retired people).
Bitcoins supply is set at 21,000,000 total and there have been roughly 19,200,000 mined so far which leaves 1,800,000 left to be mined. Less and less will be mined every halving event which makes each one harder to get. This makes the value of it go up just like the value of gold.
Why not just buy gold?
Gold currently is the safer play, but more money is to made in bitcoin due to it being so new, and less adoption. So people that understand it (the charts) can make more gains in a shorter time period.
Why can't they just make more Bitcoin?
Bitcoin has what is called a digital policy ID, and because of this you can't fake new ones. It is impossible to duplicate the same Policy ID on blockchain technology. This is what make the value go up at the halving events which happens every 4 years.
I could keep going and explain it more, but this give you a solid base
Last edited:
I could get into Alt Coins and their purpose as well as NFT's, but all you really need to know is the technology is being made to take over traditional banking. This is why you hear the negative press all the time. You think the banking industry wants to lose out on all those interest rates they take from us?
Big Oil is going to eventually lose out to the smarter play in electric cars. Just like banks are going to eventually lose to digital currency. You are talking Trillions of dollars switching hands in these moves. Why do you think people are so negative about Electric Cars and Crypto? I can tell you this... it's not because they are fads that are going to fade out.
New inventions that make things better will always prevail over its predecessor. Just the way it works, and blockchain technology and electric vehicles will eventually (maybe not in my lifetime) take over Big Oil and the Banking industry.
Big Oil is going to eventually lose out to the smarter play in electric cars. Just like banks are going to eventually lose to digital currency. You are talking Trillions of dollars switching hands in these moves. Why do you think people are so negative about Electric Cars and Crypto? I can tell you this... it's not because they are fads that are going to fade out.
New inventions that make things better will always prevail over its predecessor. Just the way it works, and blockchain technology and electric vehicles will eventually (maybe not in my lifetime) take over Big Oil and the Banking industry.
One of my friends is an “authority” on bitcoin and proselytizes about it all the time. My other friends say “Listen to him – he knows all about bitcoin, he read five books about it, and has made a lot of money in it”. This “authority” has never sold his bitcoin.
1. Anything that you have to read five books about to understand may not be real. You only have to read one book to understand God. And a lot of people have problems believing he is real.
2. If you own apple stock, you own part of something that has assets – corporate headquarters, products that it can sell for more than it cost the company to make them, etc. if you own a bitcoin what is it that you actually own? Something that you can convince somebody else to buy from more than you bought it for, but what else? There are approximately six car dealerships in the United States that supposedly accept bitcoin to buy a car, and a banana republic that supposedly accepts it. So if you actually own bitcoin you have to constantly convince everybody else that it’s worth something or you own nothing.
1. Anything that you have to read five books about to understand may not be real. You only have to read one book to understand God. And a lot of people have problems believing he is real.
2. If you own apple stock, you own part of something that has assets – corporate headquarters, products that it can sell for more than it cost the company to make them, etc. if you own a bitcoin what is it that you actually own? Something that you can convince somebody else to buy from more than you bought it for, but what else? There are approximately six car dealerships in the United States that supposedly accept bitcoin to buy a car, and a banana republic that supposedly accepts it. So if you actually own bitcoin you have to constantly convince everybody else that it’s worth something or you own nothing.
Big Oil is just going to become Big Combat and Big Lithium (until environmental freaks get mad about mining that but it will take longer since it is not on US soil)
I agree with this, to get bitcoin to be "used" for buying stuff you need to get the young generation hooked. But that Is not going to happen as long as they can pay digitally with normal cash.
That is not saying you can't make tons of real money buying and selling crypto, you can. For sure. It is just never going to become "a thing" for purchasing.
On #2
I am not going to convince someone like you, because you don't understand the freedom of Decentralization that it provides. The fact it doesn't have a corporate headquarters is why I am in it. The Decentralization gives you full control, and does not allow a company to have control of if my money goes up or down
