So you're saying BTC could go to 500k/USD, and you will still not admit you were wrong? That essentially qualifies as a non-falsifiable belief then.
Btw, what is the "intrinsic value" in any other currency like JPY or EUR?
Ten years ago it was at $338. Now it's over $72,000.
It was supposed to help out the poor and “bank the unbanked.” instead, it’s shifted money to a few scumbags and scammers and has ripped off the poor (who think they are getting rich on unrealized gains). it’s just a pet rock You can bid up the price on in the hopes you can give it to somebody else for a higher price (in fiat)
Gold is just a pet rock. You can bid up the price on in the hopes you can give it to somebody else for a higher price (in fiat)
FIFY
Gold sucks but at least it can be used in electronics and in jewelry, among other things
notice the media portrays sh*tcoins as tangible gold coins, when in reality, they are useless computer code being traded in the hopes they could be sold to someone after them for greater amounts of Fiat in the future, until the game of musical chairs stops and the pool of suckers runs out
Gold sucks but at least it can be used in electronics and in jewelry, among other things
notice the media portrays sh*tcoins as tangible gold coins, when in reality, they are useless computer code being traded in the hopes they could be sold to someone after them for greater amounts of Fiat in the future, until the game of musical chairs stops and the pool of suckers runs out
Most gold transactions are not for industrial use... it's industrial value makes up only a fraction of its market value.
People are just buying it in hopes it can be sold more to someone else later. When the scam is up and gold is only useful as a conductor in electronics the game will end of the price will crash...
How to admit you have no mental model of the people who know more than you do.
The use case of BTC is not like the use case of stocks. People buy BTC to maintain purchasing power over the long-haul relative to decaying fiat, not to trade it in for decaying fiat.
Fiat is supposed to lose purchasing power over time. This idea born out of poor people being pissed off that govt rescued big banks in 2008 financial crisis is just dumb. There are problems with the system, yes, but the answer is not hoarding worthless coins. It’s just another mechanism for poor people to be taken advantage of. They just don’t know it yet.
By your own earlier admission, you wouldn't be surprised if BTC went to 500k USD. Am curious how you think people converting USD to BTC at 70k/coin would be getting taken advantage of if their currency swap then appreciate 7x relative to the short leg
I’m proud to announce that upon seeing this post I went ahead and tried my luck and bought 1 bitcoin. I am now 34k richer. Everybody should make wise investments like me and you’ll turn into a thousandeer.
I’m proud to announce that upon seeing this post I went ahead and tried my luck and bought 1 bitcoin. I am now 34k richer. Everybody should make wise investments like me and you’ll turn into a thousandeer.
“The supply of bitcoin to the market is also largely down to crypto miners but the sector is opaque, with data on inventories and supplies scarce. If miners sell their reserves, that could put downward pressure on prices. Knowing what is behind a crypto rally is hard, not least as there is far less transparency about who is buying and why relative to other markets. The most common reason given for this year's surge is the U.S. Securities and Exchange Commission's January approval of bitcoin ETFs, as well as expectations that central banks will cut interest rates. But in the speculative world of crypto trading, explanations given by analysts for changes in bitcoin's price can snowball into market narratives that can become self-fulfilling. WHAT ABOUT PREVIOUS HALVINGS? There's no evidence to suggest that previous halvings have caused bitcoin's price to rise. Still, traders and miners have studied past halvings to try and gain an edge. When the last halving happened on May 11, 2020, the price rose around 12% in the following week. Later in the year, bitcoin began a sharp rally, but there were lots of explanations - including loose monetary policy and stay-at-home retail investors spending spare cash on cryptocurrencies - for this and no real evidence the halving was behind it. Reuters GraphicsAn earlier halving occurred in July 2016. Bitcoin rose around 1.3% in the following week, before plunging a few weeks later. In short: it's hard to isolate the impact, if any, halvings may have had in the past or predict what could happen this time around. Regulators have repeatedly warned that bitcoin is a speculative market, driven by hype and "FOMO" (Fear Of Missing Out), and poses real harm to investors, even as they simultaneously approve bitcoin trading products.
It seems strange for the price to go up this much when there isn’t as much interest from the hey wanna get rich quick retail suckers as there was in 2020, 2021 to early 2022. Seems manipulated a lot. The guys writing about it seem to point to the ETF approvals as the reason for the recent increase but it seems suspicious