OT- Bitcoin

[itseasyas1-2-3]

I bought some BTC since it got under 50k. Not sure how low it will go though

The feds are selling off BTC to get the price lower. Those holding BTC will do just fine in the next 2-3 months.

If you feel you got in at a decent price, don't fret over these daily/weekly moves, because when it goes up, it really goes up and when it drops it really drops. Its just a volatile holding and its not for everyone.

I still think its gonna be touching 100K a week or so before Christmas. One of the candidates says he will use it as an asset, and if he gets in the thing is really gonna move.

I'm not suggesting anyone do as I'm suggesting, its just what I've done since 2009 and there are a lot of highs and lows, but I'm in it for the long game. If it goes to a million or goes to zero it doesn't matter cause my last purchases were for $ 1,200.00 a BTC for my grandsons. If they win, they win big, if they lose, it still hasnt cost them a penny.

I never concern myself with the price movement in gold or silver either. Price manipulation goes on all the time, at the end of the day, they will still hold their purchasing power. The problem is gasoline might be $ 20.00 a gallon and a gallon of milk might be $ 10.00.

So many things happen the way the markets are manipulated, they just continually try to force those with weak hands to abandon their holdings so they can buy it on the cheap. We continue to buy small portions on a weekly basis regardless of the price.

I'm not a DCA guy. That's how people get their asses handed to them on large downturns like is happening today. Most people in the market are taking two steps forward and one step back all the time. When this thing breaks for good, there's gonna be zero time for them to recover.

Fvck, 40% of the businesses in the Russell 2000 are zombie companies. This whole market is a fraud and has always been and only gotten worse with the invent of High Frequency Trading.

I guess at age 70, I've seen enough in the financials to take and hold positions if I know I am holding something of value.

To each his/her own, I hope everyone comes out good in the end.

 

[Muskyhunter16]

We been told multiple times from "pro's" that BTC is a store of value. It is absolutely NOT a store a value, it is nothing more than an extremely speculative asset along with all other crypto related assets. Sure it's smart to hold a small piece of your portfolio in crypto but to have more than 5% exposed there is a bit crazy imo

 

[Huskers123456]

The feds are selling off BTC to get the price lower. Those holding BTC are do just fine in the next 2-3 months.

If you feel you got in at a decent price, don't fret over these daily/weekly moves, because when it goes up, it really goes up and when it drops it really drops. Its just a volatile holding and its not for everyone.

I still think its gonna be touching 100K a week or so before Christmas. One of the candidates says he will use it as an asset, and if he gets in the thing is really gonna move.

I'm not suggesting anyone do as I'm suggesting, its just what I've done since 2009 and there are a lot of highs and lows, but I'm in it for the long game. If it goes to a million or goes to zero it doesn't matter cause my last purchases were for $ 1,200.00 a BTC for my grandsons. If they win, they win big, if they lose, it still hasnt cost them a penny.

I never concern myself with the price movement in gold or silver either. Price manipulation goes on all the time, at the end of the day, they will still hold their purchasing power. The problem is gasoline might be $ 20.00 a gallon and a gallon of milk might be $ 10.00.

So many things happen the way the markets are manipulated, they just continually try to force those with weak hands to abandon their holdings so they can buy it on the cheap. We continue to buy small portions on a weekly basis regardless of the price.

I'm not a DCA guy. That's how people get their asses handed to them on large downturns like is happening today. Most people in the market are taking two steps forward and one step back all the time. When this thing breaks for good, there's gonna be zero time for them to recover.

Fvck,40% of the businesses in the Russell 2000 are zombie companies. This whole market is a fraud and has always been and only gotten worse with the invent of High Frequency Trading.

I guess at age 70, I've seen enough in the financials to take and hold positions if I know I am holding something of value.

To each his/her own, I hope everyone comes out good in the end.

99% of people wouldn't have any investments at all if companies didn't auto-enroll them in a 401k. Without DCA it would be scary to think what these people would be doing with their money. DCA is best for the vast majority of people.

 

[itseasyas1-2-3]

I would say Bitcoin is part of the everything bubble

Everything is part of the everything bubble except precious metals.

 

[itseasyas1-2-3]

We been told multiple times from "pro's" that BTC is a store of value. It is absolutely NOT a store a value, it is nothing more than an extremely speculative asset along with all other crypto related assets. Sure it's smart to hold a small piece of your portfolio in crypto but to have more than 5% exposed there is a bit crazy imo

With a couple of exceptons, EVERYTHING is speculative.
If you don't have it in your hands, you don't own it.

The PPT will come in and rescue the market like they always do...until they can't.

 

[BTF69]

I bought some BTC since it got under 50k. Not sure how low it will go though

I mean, no one knows! Ha! It has no real value. It could go to 100K or it could be at 0.

 

[BTF69]

99% of people wouldn't have any investments at all if companies didn't auto-enroll them in a 401k. Without DCA it would be scary to think what these people would be doing with their money. DCA is best for the vast majority of people.

Yep!

My work related investments are boring, done automatically and I really never look at them.

Then I have my "Fun" account, where I do all my own trades and gambles Ha.

 

[TampaBaySkers]

Everything is part of the everything bubble except precious metals.

Even silver is taking it on the chin today

 

[itseasyas1-2-3]

Even silver is taking it on the chin today

Doesn't make any difference.
The LBMA and COMEX are being wiped out and India will buy like crazy coming off this downturn, as will China.

 

[cornhustler]

Yep!

My work related investments are boring, done automatically and I really never look at them.

Then I have my "Fun" account, where I do all my own trades and gambles Ha.

Over your lifetime it would be interesting to track which performs better.

I was in highschool at the turn of the millennium, I took an Economics class, it was the best class I ever took. We grouped up to pick stocks and explain our hypothetical portfolio. After the dot.com bust Apple stock was around 30 cents. Our school, like most high schools, had iMac G3 computers so we thought it was a good investment at the price.

Could have turned $1,800 into over $60 million.

Instead I bought a stereo, speakers, lift kit, glass packs and 35 inch tires for my truck... still have the truck, but that opportunity cost is a real bitch!

 

[TampaBaySkers]

Over your lifetime it would be interesting to track which performs better.

I was in highschool at the turn of the millennium, I took an Economics class, it was the best class I ever took. We grouped up to pick stocks and explain our hypothetical portfolio. After the dot.com bust Apple stock was around 30 cents. Our school, like most high schools, had iMac G3 computers so we thought it was a good investment at the price.

Could have turned $1,800 into over $60 million.

Instead I bought a stereo, speakers, lift kit, glass packs and 35 inch tires for my truck... still have the truck, but that opportunity cost is a real bitch!

Yep millionaires are made buying after/in a recession. You’ll have another chance soon

 

[BTF69]

Over your lifetime it would be interesting to track which performs better.

I was in highschool at the turn of the millennium, I took an Economics class, it was the best class I ever took. We grouped up to pick stocks and explain our hypothetical portfolio. After the dot.com bust Apple stock was around 30 cents. Our school, like most high schools, had iMac G3 computers so we thought it was a good investment at the price.

Could have turned $1,800 into over $60 million.

Instead I bought a stereo, speakers, lift kit, glass packs and 35 inch tires for my truck... still have the truck, but that opportunity cost is a real bitch!

Oh my god! I LOVE THIS!

 

[Huskers123456]

Yep millionaires are made buying after/in a recession. You’ll have another chance soon

This is what I tell my kids all the time. When the time comes, hustle everything you have into good, undervalued companies. Even better if they happen to pay a decent dividend.

 

[RedBaloneyPony]

Over your lifetime it would be interesting to track which performs better.

I was in highschool at the turn of the millennium, I took an Economics class, it was the best class I ever took. We grouped up to pick stocks and explain our hypothetical portfolio. After the dot.com bust Apple stock was around 30 cents. Our school, like most high schools, had iMac G3 computers so we thought it was a good investment at the price.

Could have turned $1,800 into over $60 million.

Instead I bought a stereo, speakers, lift kit, glass packs and 35 inch tires for my truck... still have the truck, but that opportunity cost is a real bitch!

You got more pussy with your truck upgrades than 60 million would get you today!

 

[GBRforLife1]

You got more pussy with your truck upgrades than 60 million would get you today!

Where are you shopping?

 

[king_kong_]

NVDA just erased its entire "black monday" gap

it's Tuesday

 

[king_kong_]

Yep millionaires are made buying after/in a recession. You’ll have another chance soon

yesterday was a good chance

 

[GBRforLife1]

Previous 2 days everyone thought it was the end of the world. Today they're happy. Lol

 

[king_kong_]

Previous 2 days everyone thought it was the end of the world. Today they're happy. Lol

bears make the world go around

 

[king_kong_]

Previous 2 days everyone thought it was the end of the world. Today they're happy. Lol

long live the king

 

[GBRforLife1]

long live the king

View embedded media

He's incredible.

 

[TampaBaySkers]

yesterday was a good chance

View embedded media

Doubt it. S&P being up 2 % probably won’t make too many people millionaires. Unless you’re referring to BTC- glad I bought more sub 50k

 

[king_kong_]

Doubt it. S&P being up 2 % probably won’t make too many people millionaires. Unless you’re referring to BTC- glad I bought more sub 50k

Aug 9 weekly calls on many mega-cap tech tickers are +300%+ today from yesterday's lows

 

[TampaBaySkers]

yesterday was a good chance

View embedded media

How much did the institutions sell?

 

[king_kong_]

How much did the institutions sell?

a fine question

 

[Sinomatic]

All in.

Bought PNG with my remaining cash on Monday at about 3 pm.

Hope you all took a bite while the stag was bleeding.

 

[TampaBaySkers]

All in.

Bought PNG with my remaining cash on Monday at about 3 pm.

Hope you all took a bite while the stag was bleeding.

I’ve noticed a correlation between your posts and crypto dropping 🤣🤣

 

[meo1960]

We been told multiple times from "pro's" that BTC is a store of value. It is absolutely NOT a store a value, it is nothing more than an extremely speculative asset along with all other crypto related assets. Sure it's smart to hold a small piece of your portfolio in crypto but to have more than 5% exposed there is a bit crazy imo

I bought 3 alt coins about 3.5 years ago. They have done nothing but decrease in value since.

I've come to believe the the ones in control of the markets, aka the ones with the most money who can move prices by buying and selling are using the crypto market to finance what they really want and that is a CBDC.

I now think the least risk is to just start a business. Slow and steady wins the race in the end.

 

[BTF69]

I bought 3 alt coins about 3.5 years ago. They have done nothing but decrease in value since.

I've come to believe the the ones in control of the markets, aka the ones with the most money who can move prices by buying and selling are using the crypto market to finance what they really want and that is a CBDC.

I now think the least risk is to just start a business. Slow and steady wins the race in the end.

You can probably make money on any of them IF you snag it at the right time but in the end most of the coins are total losers.

 

[Sinomatic]

I bought 3 alt coins about 3.5 years ago. They have done nothing but decrease in value since.

I've come to believe the the ones in control of the markets, aka the ones with the most money who can move prices by buying and selling are using the crypto market to finance what they really want and that is a CBDC.

I now think the least risk is to just start a business. Slow and steady wins the race in the end.

I think digital currency is where we'll end up post fiat, but I think it will be a state sanctioned one, it won't be BTC.

 

[SomedayHusker]

I think digital currency is where we'll end up post fiat, but I think it will be a state sanctioned one, it won't be BTC.

Agree except I would raise the possibility the government could acquire and/or sanction Bitcoin (or others) in a multitude of different ways.

More likely though they probably create some kind of false flag event to coerce or force people into their own CBDC. I also need to add that the sources of everything coercion are the corporations behind the government. The government is just the marionette.

 

[Sinomatic]

Agree except I would raise the possibility the government could acquire and/or sanction Bitcoin (or others) in a multitude of different ways.

More likely though they probably create some kind of false flag event to coerce or force people into their own CBDC. I also need to add that the sources of everything coercion are the corporations behind the government. The government is just the marionette.

I want to say I agree so as to puff up BTC as much as possible so I can make huge profits but...

I'm not sure the big banks and the families that control them will let that happen. They, AND the FED, and half of Congress are going to want to know whom Satoshi Nakamoto is, or specifically all who constitute that group is, before the US would straight up adopt Bitcoin as the official US currency. Unless our economy goes to total sh!t....

Switching to BTC would bring on a whole new group of moguls, those who have huge holdings of BTC, possibly to challenge the Rothchild's for instance.

I think the US CBDC will be developed alongside those in banking in mind to keep the proportions of influence and control they now enjoy preserved. I just don't see them losing power unless you get someone like Adolph Hitler to come in and distinctly address their hegemony and arrest them again like he did last century.

The last time the US was out of debt was when Andrew Jackson was president, and he was the first president to have an assassin gun for him for his troubles. Got us off the influence of the Bank of England at the time. Rothchilds were in control of the Bank of England from what I hear.

 

[jbskers]

problem is: your gold isn't worth what they say it is either.......
$12 trillion found in Uganda
US is sitting on one of the largest untapped gold reserves in the world.....
Gold isn't scarce, they only want you to believe it is.

Stocks are fake, most of crypto is fake (some of it will be the new Amazon's, yahoo's, googles , of the next generation tech. It's just avoiding the land mines along the way.

 

[SomedayHusker]

I want to say I agree so as to puff up BTC as much as possible so I can make huge profits but...

I'm not sure the big banks and the families that control them will let that happen. They, AND the FED, and half of Congress are going to want to know whom Satoshi Nakamoto is, or specifically all who constitute that group is, before the US would straight up adopt Bitcoin as the official US currency. Unless our economy goes to total sh!t....

Switching to BTC would bring on a whole new group of moguls, those who have huge holdings of BTC, possibly to challenge the Rothchild's for instance.

I think the US CBDC will be developed alongside those in banking in mind to keep the proportions of influence and control they now enjoy preserved. I just don't see them losing power unless you get someone like Adolph Hitler to come in and distinctly address their hegemony and arrest them again like he did last century.

The last time the US was out of debt was when Andrew Jackson was president, and he was the first president to have an assassin gun for him for his troubles. Got us off the influence of the Bank of England at the time. Rothchilds were in control of the Bank of England from what I hear.

Again I agree with everything here, great post. Only thing I’ll say is you’re assuming the banking families at least, don’t already know who Nakamoto is. They could also buy more BTC than all others combined to control it. Basically whatever they want to make happen, they can.

Love the Andrew Jackson note and I’ll take it a step further - all presidents who have been assassinated had one major thing in common. They all tried to make a currency outside of the Dollar.

 

[redli]

Wow, this thread really zagged.

 

[Sinomatic]

Wow, this thread really zagged.

Tell me you don't know why bitcoin was created without telling me you don't know why bitcoin was created...

 

[redli]

LOL, none of you know why, for sure, unless one of you is satoshi. Or maybe Hal Finne. Or maybe Hal WAS satoshi?!?!? Either way, all you have is a few white papers and list serve messages, it's not like you know either. You've definitely put your own beliefs on it, but you don't really know the creators motivations.

 

[jbskers]

LOL, none of you know why, for sure, unless one of you is satoshi. Or maybe Hal Finne. Or maybe Hal WAS satoshi?!?!? Either way, all you have is a few white papers and list serve messages, it's not like you know either. You've definitely put your own beliefs on it, but you don't really know the creators motivations.

it was made by the NSA

 

[redli]

I think you meant the NCAA or NASA. Both of which are the true power behind the moves of the world.

 

[Sinomatic]

LOL, none of you know why, for sure, unless one of you is satoshi. Or maybe Hal Finne. Or maybe Hal WAS satoshi?!?!? Either way, all you have is a few white papers and list serve messages, it's not like you know either. You've definitely put your own beliefs on it, but you don't really know the creators motivations.

I'm taking the declared statements by the author at face value until they are proven to be false.



"On the 18th of August 2008, the domain name bitcoin.org was registered.[11] Later that year, on 31 October, a link to a paper authored by Satoshi Nakamoto titled Bitcoin: A Peer-to-Peer Electronic Cash System[12] was posted to a cryptography mailing list.[13] This paper detailed methods of using a peer-to-peer network to generate what was described as "a system for electronic transactions without relying on trust".[14][15][16] On 3 January 2009, the bitcoin network came into existence with Satoshi Nakamoto mining the genesis block of bitcoin (block number 0), which had a reward of 50 bitcoins.[14][17] Embedded in the genesis block was the text:

The Times 03/Jan/2009 Chancellor on brink of second bailout for banks