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

[gib]

Oh. And if you are now buying BTC please note that you the have the responsibility to join the chorus in hyping it back up.

[gib]

Oh. And 6400...

[LurkerNoMore]

I think so. Ethereum actually has a lot more utility than Bitcoin.

Everyone has been waiting for the decoupling of alt coins from Bitcoin. This has not happened yet. They appear to rise and fall with Bitcoin. In 2018 they fell more than Bitcoin but are also starting to recover. Bitcoin's high was +/- $19,500 and sitting at +/- $6,400 or +/- 33% of its high.

Meanwhile Ethereum's high was +/- $1,400 and is now at $174 or only +/- 12.5% of it's high! And it was worse a few months ago. So hopefully it will jump back. Fuck the assholes that sold out!

https://bitcoinist.com/new-bitcoin-etf-filing-with-the-sec-throws-ethereum-into-the-mix/

"Whilst the world waited for the SEC’s postponed decisions on two outstanding Bitcoin-ETF applications, somebody filed a new one. The United States Commodity Index Fund Trust filed the application yesterday for a fund based on a portfolio of both bitcoin and ether."

Is Litecoin a decent investment then?

[gib]

Is Litecoin a decent investment then?

See my above comment. Long term we need to collectively agree on a single coin to hype. In my view that will be Bitcoin.

[gib]

Oh ... and 6.5.

Where are you MrA???

[Army of One]

Oh ... and 6.5.

Where are you MrA???

The dump on this is going to be insane.Bitfinex court hearing Monday, exchanges are dumping their tether for btc like crazy.This pump is solely everyone jumping out of tether for dear life.Great if you bought in, but dont be the sucker holding the bags.Sell when everyone is euphoric, buy when everyone is depressed.

[obsidian]

The dump on this is going to be insane.Bitfinex court hearing Monday, exchanges are dumping their tether for btc like crazy.This pump is solely everyone jumping out of tether for dear life.Great if you bought in, but dont be the sucker holding the bags.Sell when everyone is euphoric, buy when everyone is depressed.

Time will tell what happens. So many people have been wrong I will not make any predictions lol! Nobody knows.

[Army of One]

Time will tell what happens. So many people have been wrong I will not make any predictions lol! Nobody knows.

Well what makes the most sense, that this pumps out of nowhere? or people are jumping out of the stablecoin that is about to collapse that people have over 2.5 billion dollars in?I love crypto in the sense its easy money, but its one big scam, the sooner I saw it for what it was the easier it was for me to see the trends and not get emotional.Its the most manipulated market around as there are no regulations.

[obsidian]

I see the claimed “utility” of almost all crypto as marketing fluff.

If you are in it for the money, you need to identify which coin will collectively be identified as “the one” in terms of being a “rare” and limited in supply store of value.

If I had to guess, given that the number of types of crypto that can be made is infinite, I think there is a reasonable chance that coin will be the original - Bitcoin.

Look at it this way. The buy in for 1 BTC right now is $6400. We know the high of BTC was $19,500 so it could feasibly go to that price again. So you could see a 300% increase in value.

The buy in for 1 ETH is $172. We know the high was close to $1400. So it could feasibly increase by 800%. There is more room for dramatic increases with the lower prices alt coins.

Ethereum also has a finite supply. Sure BTC might always be worth more, but at this point the buy in price is very high. You had to get in with Bitcoin years ago when it was worth a few dollars.

[Army of One]

Look at it this way. The buy in for 1 BTC right now is $6400. We know the high of BTC was $19,500 so it could feasibly go to that price again. So you could see a 300% increase in value.

The buy in for 1 ETH is $172. We know the high was close to $1400. So it could feasibly increase by 800%. There is more room for dramatic increases with the lower prices alt coins.

Ethereum also has a finite supply. Sure BTC might always be worth more, but at this point the buy in price is very high. You had to get in with Bitcoin years ago when it was worth a few dollars.

I dont touch either.There are still 5-10x every month in alt coins, you just have to be on the ball and know where to look.

[obsidian]

Well what makes the most sense, that this pumps out of nowhere? or people are jumping out of the stablecoin that is about to collapse that people have over 2.5 billion dollars in?I love crypto in the sense its easy money, but its one big scam, the sooner I saw it for what it was the easier it was for me to see the trends and not get emotional.Its the most manipulated market around as there are no regulations.

How is the stock market any different really. It is all about perceived value, fear of missing out etc. Many stock traders jumped out of windows in the past. There is risk involved with any of these markets.

You could argue the entire economy is a big scam.

I personally think it is pretty cool that I can send to or receive from someone Ethereum, Bitcoin etc. by just typing their wallet address into an app. Don't have to go to the bank. It is anonymous. The transaction is there for everyone to see. When fiat currencies lose their value as they are destined to they will become less attractive.

I can see more businesses starting to accept cryptos in the long run. Since most cryptos have a finte supply the value would have to go up if more people start using them. You would need fractions of a coin to buy relatively expensive items. How much did you pay for that gun? 0.1 ETH? Damn dude you overpaid. I snagged one for .075 ETH. Lol!

[gib]

The dump on this is going to be insane.Bitfinex court hearing Monday, exchanges are dumping their tether for btc like crazy.This pump is solely everyone jumping out of tether for dear life.Great if you bought in, but dont be the sucker holding the bags.Sell when everyone is euphoric, buy when everyone is depressed.

Another way of looking at it is that the crypto market is “maturing” and people are gravitating towards one currency, namely Bitcoin.

[Army of One]

Another way of looking at it is that the crypto market is “maturing” and people are gravitating towards one currency, namely Bitcoin.

You are running on emotion and hype.Im running on the evidence.The stats and evidence never lies.

[gib]

Look at it this way. The buy in for 1 BTC right now is $6400. We know the high of BTC was $19,500 so it could feasibly go to that price again. So you could see a 300% increase in value.

The buy in for 1 ETH is $172. We know the high was close to $1400. So it could feasibly increase by 800%. There is more room for dramatic increases with the lower prices alt coins.

With respect I have to point out this is nonsense. If nominal value is your driver for investing just pretend you are buying santoshi’s (which are 1/00000001 of a bitcoin). Is the same kind of logic people who buy “penny stocks” over blue chips “because they are cheap”.

Would you rather buy an ”expensive kilo of gold” or a “cheap kilo of lead”...

[gib]

I would add that the “market dominance” of btc vs all other crypto has been rising significantly of late. This is an extremely important metric if you believe in the “Bitcoin will be King” scenario.

Oh how I wish Mr A was back here.

Oh and 6700...

[Army of One]

With respect I have to point out this is nonsense. If nominal value is your driver for investing just pretend you are buying santoshi’s (which are 1/00000001 of a bitcoin). Is the same kind of logic people who buy “penny stocks” over blue chips “because they are cheap”.

Would you rather buy an ”expensive kilo of gold” or a “cheap kilo of lead”...

He is right, IF you can pick the right alt coins you can make magnitudes more than btc in a bull market, or even sideways.I know someone who had 300 dollars of a coin in feb 2017, by Jan 2018 he’d bought and sold his way to 6 million dollars only using that initial 300 dollars worth of crypto.The majority are unable to have the knowledge or emotional control to do this though, the more money they get, the less clearly they are able to think.Its much safer in bluechip cryptos like btc and eth for most.

[Army of One]

Another way of looking at it is that the crypto market is “maturing” and people are gravitating towards one currency, namely Bitcoin.

Here, if you need more evidence, 250 million dollars has left bitfinex in the last 24 hours lol.This is a massive exit in to btc, next wil be a massive exit from btc in to fiat.

[gib]

He is right, IF you can pick the right alt coins you can make magnitudes more than btc in a bull market, or even sideways.I know someone who had 300 dollars of a coin in feb 2017, by Jan 2018 he’d bought and sold his way to 6 million dollars only using that initial 300 dollars worth of crypto.The majority are unable to have the knowledge or emotional control to do this though, the more money they get, the less clearly they are able to think.Its much safer in bluechip cryptos like btc and eth for most.

Well I guess that’s true. But it’s dependent on a pretty big “if”.

I’m conservative enough as it is. I have made money consistently all my life as a “value” investor, in stocks and property where value can be calculated. Bets on crypto amount almost entirely to a speculative bet. So if I am going to bet at all it’s going to be on the likely winner (albeit at lower odds) than an outsider which could pay off big time if it comes in. This same phenomenon exists in horse race gambling by the way. Statistically the best bet (ie the one you will lose least on over time, as long term the house wins) is on the favourite. Yet people continuously to place bets on outsiders in the hope their horse “comes in” as they are more excited by the prospect of a “big payoff”).

[obsidian]

With respect I have to point out this is nonsense. If nominal value is your driver for investing just pretend you are buying santoshi’s (which are 1/00000001 of a bitcoin). Is the same kind of logic people who buy “penny stocks” over blue chips “because they are cheap”.

Would you rather buy an ”expensive kilo of gold” or a “cheap kilo of lead”...

The price difference between gold and lead is bigger by magnitudes compared to Bitcoin vs Ethereum. Ethereum had a bigger market cap than Bitcoin today at its height. Peak ratio was 14 ETH for 1 BTC.

I bought silver coins, not gold coins. And gold is now worth less than it was when I bought silver many years ago.

[gib]

The price difference between gold and lead is bigger by magnitudes compared to Bitcoin vs Ethereum. Ethereum had a bigger market cap than Bitcoin today at its height. Peak ratio was 14 ETH for 1 BTC.

I bought silver coins, not gold coins. And gold is now worth less than it was when I bought silver many years ago.

Ok cool. Go buy some lead then. I’ll stick to gold ...

[Army of One]

The price difference between gold and lead is bigger by magnitudes compared to Bitcoin vs Ethereum. Ethereum had a bigger market cap than Bitcoin today at its height. Peak ratio was 14 ETH for 1 BTC.

I bought silver coins, not gold coins. And gold is now worth less than it was when I bought silver many years ago.

Crypto marketcaps are meaningless though really.Most of the high milions and multi billion coins got their marketcaps for just existing during the 2017 bullrun, had they released in 2018 they would have been magnitudes lower. it really is a strange market in general.

[gib]

TO ALL NEWCOMERS TO BITCOIN I URGE YOU TO READ THIS THREAD IN ITS ENTIRETY.

I started it as my effort to capture a discussion that will be of value many years to come as historians look back on the evolution of bitcoin. And also to genuinely educate readers.

Remember - Everyone’s Money can Buy into the Emerging Revolution of Tomorrow.

Oh - and 6800 ...

[SF1900]

TO ALL NEWCOMERS TO BITCOIN I URGE YOU TO READ THIS THREAD IN ITS ENTIRETY.

I started it as my effort to capture a discussion that will be of value many years to come as historians look back on the evolution of bitcoin. And also to genuinely educate readers.

Remember - Everyone’s Money can Buy into the Emerging Revolution of Tomorrow.

Oh - and 6800 ...

You realize that no one is falling for your lies. 

[Theoak*]

As bitcoin continues to grow, as it likely will, the unit of account aspect will become more and more stable too... But there may likely be another 10 years or more of bitcoin growth, including likely 1000x or more price increasing in bitcoin that will also bring more and more stability in its price... in other words, the instability in bitcoin in the next 10 years or more... and perhaps even more than 20 years, is going to likely be in the upwards direction, merely based upon ongoing and increasing adoption... that is seeming nearly inevitable.

[oldschoolfan]

bitcoin was invented for criminals to hide money, you cant use it for anything i have bought and sold bitcoin. it is a pain in the ass, and most people would have a very hard time figuring out how to send it.