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Bitcoins - about to hit $5,000 per coin today!
Theoak*:
--- Quote from: Mayday on June 12, 2023, 10:40:52 PM ---:D
I fell for all the narratives too. Listened to all the gurus and people smarter than me but it was all BS which really sucked.
Before the last cycle when I had zero knowledge of Bitcoin, I had BTC at 55k. We hit 64k. Targets were 220k+ from the narratives. I have ballpark 80k now embracing my spasticity and narratives are 550k and 1M is also making a name for itself.
The other thing is the peak cycle timing can now move because of the low price target. November 2024. Sure, hate it all you want but it’s backed by numbers so it’s on the table. If price is 80k by November 2024 and everyone is saying how 2025 will get to 500k, it’s probably cooked.
Regulation was always coming and is needed. But it lowers volatility, Case in point We experienced the largest money printing of our lifetime and gold moved up +20%. hedge funds were all through Bitcoin this in 2020 like crazy, you are repeating a narrative from 3yrs ago. Pension funds won’t touch anything with volatility like this because they prefer a +2% yield to avoid a -2% drop in value. Forget it, old narrative again.
if you are upset at the guy calling for 80k rather than people calling for 500k+ then you don’t have enough in and are praying for unicorns and rainbows to bail you out.
Gold but wait 2 decades for a week period at an ATH. Why should crypto be any different? Saylor said it’s digital gold.
--- End quote ---
Except you had pension funds In Canada come into btc indirectly via proxies and fraudulent companies that mploded. I'm not upset about price, perhaps if it dropped to 2-3k I might be shaky. if anything you're the one emotionally invested, I never went out a paid for retarded quant analysis by grifters and conmen looking to extract $$$ out of newbies.
You got burnt, you lost money on these utility tokens that promised the world and delivered a 90% draw down. Anyone would be emotional, including myself. Except I countered my emotion with knowledge.
You're conflating shitcoinery crypto with btc. You're hurt from people who you think are smarter than you, but they are not.
You're atleast smart enough to know the gold market is heavily manipulated and suppressed blvia paper derivatives
it's not even comparable or verifiable. The next generation coming through are ones growing up in a digital age, they're not buying gold and are pretty much priced out of property, wonder what kind of digital economy they'll opt for?
You're in Aus? There was a time in 2013-2014 that you could by btc in person from localbitcoins for 1-2% and an abundance of sellers. Try now going p2p, hardly anyone is selling btc. If you're lucky you can purchase it for 7-10% mark-up buy theses same vendors will sure as shit buy btc off you for 0% fee.
What happens when shrinking supply meets a growing industry and exchanges are no longer by law able to sell customers btc to prop up their air tokens? Well, price suddenly stops being suppressed and will see its true value. Next cycle will see a cleansing of all these shady cefi operators. This is not an event but s process and its disingenuous to say btc will operate like gold. There has never before been an asset as scarce, verifiable and decentrilised as btc. This is new territory. I can't give you certainty only probabilities, and probability that btc hits a new ATH before 2043 I believe is much higher than it wouldn't.
No need to worry about me, my unicorn came and stayed in 2016 after btc surpassed 2k.
Mayday:
--- Quote from: Theoak* on June 13, 2023, 12:21:13 AM ---Except you had pension funds In Canada come into btc indirectly via proxies and fraudulent companies that mploded. I'm not upset about price, perhaps if it dropped to 2-3k I might be shaky. if anything you're the one emotionally invested, I never went out a paid for retarded quant analysis by grifters and conmen looking to extract $$$ out of newbies.
You got burnt, you lost money on these utility tokens that promised the world and delivered a 90% draw down. Anyone would be emotional, including myself. Except I countered my emotion with knowledge.
You're conflating shitcoinery crypto with btc. You're hurt from people who you think are smarter than you, but they are not.
You're atleast smart enough to know the gold market is heavily manipulated and suppressed blvia paper derivatives
it's not even comparable or verifiable. The next generation coming through are ones growing up in a digital age, they're not buying gold and are pretty much priced out of property, wonder what kind of digital economy they'll opt for?
You're in Aus? There was a time in 2013-2014 that you could by btc in person from localbitcoins for 1-2% and an abundance of sellers. Try now going p2p, hardly anyone is selling btc. If you're lucky you can purchase it for 7-10% mark-up buy theses same vendors will sure as shit buy btc off you for 0% fee.
What happens when shrinking supply meets a growing industry and exchanges are no longer by law able to sell customers btc to prop up their air tokens? Well, price suddenly stops being suppressed and will see its true value. Next cycle will see a cleansing of all these shady cefi operators. This is not an event but s process and its disingenuous to say btc will operate like gold. There has never before been an asset as scarce, verifiable and decentrilised as btc. This is new territory. I can't give you certainty only probabilities, and probability that btc hits a new ATH before 2043 I believe is much higher than it wouldn't.
No need to worry about me, my unicorn came and stayed in 2016 after btc surpassed 2k.
--- End quote ---
I didn’t lose money last peak. Even with all the mess ups listening to gurus I still managed to get out with a pretty decent profit.
Also people like me lack emotions so you can’t say emotional Austistic spastic.
Perhaps you missed me trolling here when I bought in at 17.5k? I flippantly bull posted here for months the bottom was in…. Then we tapped 15.5k but I was still closer than 99%. I also sold for 2.5x while others held and now are wrecked. I can’t explain my strategy in small sentences so I don’t bother.
I know local bitcoin. It’s tax evasion for black market, I used to use it. It’s dried up because they’re all getting fucked by the ATO. The moment they use an off ramp exchange they are flagged.
On chain is a scam narrative for retail which is the scarcity argument. I probably explained it somewhere. Value is determined first, scarcity does not determine value but fuels value after it has been established. that’s before you even get to the 12% capture meaning 88% of the market is extrapolation of which they consider ‘Hodled’ lol.
I say things for shock value sometimes. reality is Gold is +2% from its past ATH after 12yrs.
The above aside, I am Glad you have made a good run of things 👍
obsidian:
https://decrypt.co/138334/gary-gensler-sec-ethereum-not-security-mit-2018
Gary Gensler Says SEC Believes Ethereum Is Not a Security—At MIT in 2018
The SEC had a very different take on the second biggest cryptocurrency back in 2018, according to Gary Gensler.
U.S. Securities and Exchange Commission Chair Gary Gensler may have appeared to sidestep questions recently on whether Ethereum and other crypto assets are securities—but he certainly seemed confident back in 2018.
A video has emerged on Twitter showing the top regulator giving a lecture at the Massachusetts Institute of Technology. In it, he says that Ethereum is “not a security” in the eyes of the SEC.
AD
Ethereum is the second biggest cryptocurrency, with a market cap of $227 billion at the time of writing. In the past, regulators have struggled with how to label the asset.
“In 2018, the Securities and Exchange Commission has said regardless of what it might have been in [2014],” Gensler said, referring to when Ethereum launched and announced an ICO using Bitcoin to buy it, “it’s now sufficiently decentralized that we’ll consider it not a security.”
And another one... - The below clip is from a Fall 2018 Graduate MIT course called "Blockchain and Money"
Gary Gensler - the current President of the SEC, was the professor.
Once again, I will let the below video speak for itself.
Lecture 6: Smart Contracts and… pic.twitter.com/hsTvJ82XmM
— zk-🦈 (@ZK_shark) April 28, 2023
Gensler, a civilian at the time and speaking only in his capacity as a professor, appeared to simply be relaying the opinions of the SEC back in 2018—specifically, the opinion expressed by former Director of Corporate Finance William Hinman in his much-cited "sufficiently decentralized" speech from June of that year.
Still, the irony wasn't lost on Crypto Twitter—especially when juxtaposed against Gensler's recent duel with Rep. Patrick McHenry (R-NC) during an appearance before a House Oversight Committee. Repeatedly asked to give his opinion as to whether Ethereum should be classified a security, and even confronted with Hinman's comments from 2018, Gensler refuses to answer the question.
he clip of Gensler's lecture at MIT is one of many recently surfaced by Twitter user "ZK_shark." Earlier this week, another clip shared by ZK_shark was retweeted by Coinbase CEO Brian Armstrong, whose company is currently in the SEC's crosshairs over its Ethereum staking product. In the clip, Genlser says he believes most of the crypto market is made up of "non-securities." It's a statement that directly contradicts more recent comments as chair of the SEC in which he said he believes the "vast majority" of tokens in the crypto market are securities.
Many have jumped in to criticize the regulator and former MIT teacher—but crypto lawyer Preston Byrne chimed in on Twitter by saying that Gensler speaking as a professor and then as a top regulator are two different things. “As a professor, he can talk about what things are in the abstract,” he wrote. “As a law enforcer, he’s required to enforce the laws as they’re written.”
gib:
Ultimately its not what Genseler or the SEC think. Its what a Court will rule. And I expect a court will rule that ETH and countless other shitcoins, are unregistered securities.
The smart move is obvious. Stick to BTC, and hodl.
Theoak*:
--- Quote from: Mayday on June 13, 2023, 07:11:42 AM ---I didn’t lose money last peak. Even with all the mess ups listening to gurus I still managed to get out with a pretty decent profit.
Also people like me lack emotions so you can’t say emotional Austistic spastic.
Perhaps you missed me trolling here when I bought in at 17.5k? I flippantly bull posted here for months the bottom was in…. Then we tapped 15.5k but I was still closer than 99%. I also sold for 2.5x while others held and now are wrecked. I can’t explain my strategy in small sentences so I don’t bother.
I know local bitcoin. It’s tax evasion for black market, I used to use it. It’s dried up because they’re all getting fucked by the ATO. The moment they use an off ramp exchange they are flagged.
On chain is a scam narrative for retail which is the scarcity argument. I probably explained it somewhere. Value is determined first, scarcity does not determine value but fuels value after it has been established. that’s before you even get to the 12% capture meaning 88% of the market is extrapolation of which they consider ‘Hodled’ lol.
I say things for shock value sometimes. reality is Gold is +2% from its past ATH after 12yrs.
The above aside, I am Glad you have made a good run of things 👍
--- End quote ---
That market hasn't dried up, still up and about and same people are doing it under prying eyes of ATO. From what I see if on ramps are blocked the p2p underground market will explode once again.
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