Bitcoins - about to hit $5,000 per coin today!

[Amerian Muscle]

are you guys going to sell at 120k or hold until one million in one go?

[SouJerz]

are you guys going to sell at 120k or hold until one million in one go?

HODL

[Amerian Muscle]

Man gold keeps pumping. I really hope bitcoin can outperform it over the next 5 years

[SouJerz]

Man gold keeps pumping. I really hope bitcoin can outperform it over the next 5 years

I told you 2500 gold.

[Amerian Muscle]

I told you 2500 gold.

I got rekt alright

[Amerian Muscle]

But hey maybe it will work out in the end 

[gib]

Anyone worried just need to zoom out a little. We know BTC will hit 100K. We know it will hit 1m. But of course there will be ups and downs along the way.

[Amerian Muscle]

Anyone worried just need to zoom out a little. We know BTC will hit 100K. We know it will hit 1m. But of course there will be ups and downs along the way.

i am not worried about btc, I am more worried that gold is going to 50k/oz over the next decade. Unlikely tho 

[loco]

Anyone worried just need to zoom out a little. We know BTC will hit 100K. We know it will hit 1m. But of course there will be ups and downs along the way.

[SouJerz]

Anyone worried just need to zoom out a little. We know BTC will hit 100K. We know it will hit 1m. But of course there will be ups and downs along the way.

Not to mention it’s the best way to say fuck you to the federal reserve. Can’t print bitcoins.

[Amerian Muscle]

Not to mention it’s the best way to say fuck you to the federal reserve. Can’t print bitcoins.

I read that the main risk to btc is cbdc

[SOMEPARTS]

Textbook triple top going on in BTC.

[SOMEPARTS]

Not to mention it’s the best way to say fuck you to the federal reserve. Can’t print bitcoins.

Now THAT is funny! Who "invented" Bitcoin, and who allows it to exist? This is just another shell added to the existing shell game.

[Flexacon]

Textbook triple top going on in BTC.

Thanks for marking the bottom 

[Zillotch]

greed can lead people into any belief… that's how satan drags em around by the nose

[gib]

Thanks for marking the bottom 

This is quite funny. But also quite possibly true. Many a chartist could look at the exact same triple peak and interpret it as a bottom from which another upward trend will emerge.... Which is why I don't dabble much in that type of pseudo-witchcraft.

For me its simple - we know with a high degree of likelihood that BTC will go up over time.

[Amerian Muscle]

120k within 24 months

[affeman]

Anyone worried just need to zoom out a little. We know BTC will hit 100K. We know it will hit 1m. But of course there will be ups and downs along the way.

lol Time to wake up son

[Amerian Muscle]

lol Time to wake up son

what watch does he wear? He often flashes his golden watch during debates and ive been wondering

[obsidian]

Synthetic diamonds exist and soon will be indistinguishable from real diamonds. But gold is another matter. Not enough energy and pressure to create it in significant quantities in a lab. Not even our Sun can create gold. Gold does exist in the Sun, but it came from much more massive stars billions of years ago.

https://www.astronomy.com/science/does-all-the-gold-in-the-universe-come-from-stars/

Eventually, scientists calculated that the Sun contains almost 2.5 trillion tons of gold, enough to fill Earth's oceans and more. Still, that's just eight atoms of gold for every trillion atoms of hydrogen — a tiny amount when compared to the mass of the Sun. But how did gold come to be in the Sun and Earth? Nov 10, 2020

[gib]

Synthetic diamonds exist and soon will be indistinguishable from real diamonds. But gold is another matter. Not enough energy and pressure to create it in significant quantities in a lab. Not even our Sun can create gold. Gold does exist in the Sun, but it came from much more massive stars billions of years ago.

https://www.astronomy.com/science/does-all-the-gold-in-the-universe-come-from-stars/

Eventually, scientists calculated that the Sun contains almost 2.5 trillion tons of gold, enough to fill Earth's oceans and more. Still, that's just eight atoms of gold for every trillion atoms of hydrogen — a tiny amount when compared to the mass of the Sun. But how did gold come to be in the Sun and Earth? Nov 10, 2020

And the purpose of posting this factoid is ... ?

[SouJerz]

This is quite funny. But also quite possibly true. Many a chartist could look at the exact same triple peak and interpret it as a bottom from which another upward trend will emerge.... Which is why I don't dabble much in that type of pseudo-witchcraft.

For me its simple - we know with a high degree of likelihood that BTC will go up over time.

Wait a minute... Tracing lines isn't a science?

[obsidian]

And the purpose of posting this factoid is ... ?

I was thinking how synthetic diamonds blow away the scarcity narrative of diamonds. Then I thought, but what about gold. After thinking it through I realized it's not the same as diamonds. It's possible to make diamonds in a lab at scale. But not gold. So yes, physical gold is scarce and the price should be higher than it is actually. But its been suppressed because of all the use cases for gold. Very expensive gold will negatively impact many parts in the economy so there is motive to keep the price lower.

[Mayday]

So yes, physical gold is scarce and the price should be higher than it is actually. But it’s been suppressed because of all the use cases for gold. Very expensive gold will negatively impact many parts in the economy so there is motive to keep the price lower.

Why should the price of gold be higher and what leads you to this conclusion? Gold is performing slightly better than inflation, what’s the issue?

Having billions in speculative dollars buying assets with zero intention of consumption does not equate to true price.

It is actually us who are manipulating commodity markets. I was there for silver in 2011 and saw the intentional crashing of the Comex. The rules then changed and guess what? All that demand suddenly vanished and after 2 decades price is still -40% lower than the peak.

[obsidian]

Why should the price of gold be higher and what leads you to this conclusion? Gold is performing slightly better than inflation, what’s the issue?

Having billions in speculative dollars buying assets with zero intention of consumption does not equate to true price.

It is actually us who are manipulating commodity markets. I was there for silver in 2011 and saw the intentional crashing of the Comex. The rules then changed and guess what? All that demand suddenly vanished and after 2 decades price is still -40% lower than the peak.

What time period are you viewing? Sure, gold prices have started to climb. It just looks to me like it has a lot more room to run, unless the price is kept down artificially to reduce the impact on manufacturing and sales.

Here are some past prices:

July 2011 Ounce of Gold: $1,825

April 2024 Ounce of Gold: $2,382

Increase of 30.52% in 13 years

Food prices are up a lot more than 30.52% the past 13 years. Not sure how accurate these numbers are, but here's a site that calculates a 47% increase in food from 2011 to 2024. I think it is probably more than that.

https://www.in2013dollars.com/Food/price-inflation/2011-to-2024?amount=100

Gold is a scarce asset. And if you zoom out from 2011 to 2024 it has not kept up with the cost of certain goods.

Electronics have gone up in some areas and stayed the same in other areas. TVs have come down and the tech specs have gone up. 15 years ago a top of the line motherboard would run around $250. Now they go for over $1,000 - see the MSI Z790 Godlike. The tech or features are a lot more advanced though.

https://www.msi.com/Motherboard/MEG-Z790-GODLIKE