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

[Mr Anabolic]

A few comments.

Nobody knows "who actually started gold" either.

OK - Well actually of course we do know how gold came about.

We also know who the key person behind the creation of Bitcoin was (ie - who was Santoshi). For those who don't know I will tell you. It was a man by the name of Adam Back. (But lets keep that our little secret, as for many reasons it benefits BTC to be perceived as an amorphous creation).

I have already explained why a currency controlled by a central bank cannot be compared to a decentralized currency such Bitcoin, and why over time we will see an even greater shift of wealth in the powers that be to BTC once they see more Government money being digitized. (Read prior posts).

Regarding Mt Gox, I already explained long ago, way towards the beginning of Mr A's journey of self-acceptance several years back, that no Bitcoin was ever "lost" when that exchange when down. Rather what happened is that BTC on the exchange was stolen. The Bitcoin that was stolen still exists, only now in the hands of the thieves (or with whom they have transacted with). Think great train robbers or pirates on ships stealing gold, back in the time when Mr A was a boy and people still lived in the analogue world and back when to more privative-minded people, money had to be something you could touch to be "real". (The lesson, as I explained at the time, from Mt Gox, was not to leave your Bitcoin on an exchange - put it into cold storage and HODL. The same applies to gold by the way. If you have gold in an ETF, or stored in a bank, you have counterparty risk).

"We don't know how gold came about?"    You're really laying it on thick now - lol   

Gold is created in supernova explosions.  It is very rare compared to other elements.  It does not tarnish and cannot be destroyed.  It has over 5000+ years of history as a store of value and money.

Knock off the bullshit.

[Mr Anabolic]

https://cointelegraph.com/news/stealth-phase-over-why-wall-street-fomo-will-make-20k-bitcoin-look-cheap

Wealthy zip-codes in New York and Silicon Valley drive BTC price.

While the public is largely unaware, several wealthy investors are heralding BTC as a new asset class. Paul Tudor Jones, Michael Saylor and Stanley Druckenmiller have made waves in 2020, revealing their positions in Bitcoin.

Do they realize something that the public did not in 2017? Was the average Joe simply too early then?

Jones said investing in BTC is like investing early in Apple stock. Saylor stated that his company, MicroStrategy, which bought up a total of $425 million in Bitcoin, will hold it for 100 years calling it “the world's best collateral.”

Meanwhile, Druckenmiller, the latest big-name Bitcoin convert, now argues that “If the gold bet works, the Bitcoin bet will probably work better.”

Gold is up just 23% in 2020 during a year of global economic upheaval, which is when this safe-haven metal was supposed to shine (pun intended).

But Bitcoin, or “digital gold,” has been stealing the show by gaining 125% year-to-date and up by almost 300% from its coronavirus-crash lows in March. What’s more, BTC’s market cap is just 2.36% of gold’s, which some long-term investors see as the best asymmetric risk-reward ratio bet in history.

Why do you even care?... you said you sold it all around 16K a few years ago.

[gib]

I was joking at the idiocy of the post. Read my second line in the quote ...

"OK - Well actually of course we do know how gold came about."

[gib]

Why do you even care?... you said you sold it all around 16K a few years ago.

I rebought, and announced it at the time I did. I sold off after the last interm peak, made 5x return over 6 months, and then rebought on the way back up (this time planning to HODL very long term).

But again, regardless of my purchases, or my net worth etc, the focus should be on the validity of Bitcoin as an investment, store of value, and hedge against what is coming in the future.

You cannot be so stupid as to not own some BTC in your portfolio. Come on Mr A, you are nearly there. You can do it. Let your stubbornness go, swallow you pride, and take the first step into the future.

[Griffith]

I rebought, and announced it at the time I did. I sold off after the last interm peak, made 5x return over 6 months, and then rebought on the way back up (this time planning to HODL very long term).

But again, regardless of my purchases, or my net worth etc, the focus should be on the validity of Bitcoin as an investment, store of value, and hedge against what is coming in the future.

You cannot be so stupid as to not own some BTC in your portfolio. Come on Mr A, you are nearly there. You can do it. Let your stubbornness go, swallow you pride, and take the first step into the future.

That's what you said before you sold almost all of them last time. 

[SOMEPARTS]

A few comments.

Nobody knows "who actually started gold" either.

OK - Well actually of course we do know how gold came about.

We also know who the key person behind the creation of Bitcoin was (ie - who was Santoshi). For those who don't know I will tell you. It was a man by the name of Adam Back. (But lets keep that our little secret, as for many reasons it benefits BTC to be perceived as an amorphous creation).

I have already explained why a currency controlled by a central bank cannot be compared to a decentralized currency such Bitcoin, and why over time we will see an even greater shift of wealth in the powers that be to BTC once they see more Government money being digitized. (Read prior posts).

Regarding Mt Gox, I already explained long ago, way towards the beginning of Mr A's journey of self-acceptance several years back, that no Bitcoin was ever "lost" when that exchange when down. Rather what happened is that BTC on the exchange was stolen. The Bitcoin that was stolen still exists, only now in the hands of the thieves (or with whom they have transacted with). Think great train robbers or pirates on ships stealing gold, back in the time when Mr A was a boy and people still lived in the analogue world and back when to more privative-minded people, money had to be something you could touch to be "real". (The lesson, as I explained at the time, from Mt Gox, was not to leave your Bitcoin on an exchange - put it into cold storage and HODL. The same applies to gold by the way. If you have gold in an ETF, or stored in a bank, you have counterparty risk).

I'm short on time to answer right now but all I can say is we need no confidence booster or reputation prop to know what gold is and that it is valuable. Technology is easy yes..but is a centralizing force that goes against natural law and common sense at this point.

[loco]

You've called plenty of ppl names/insults when you didn't agree with them.  Everyone here is guilty of that. 

I've been trading for 25 years.  The people that think trading is gambling have no experience and are just talking out of their asses.  I also have core, dividend paying positions that I do not trade.  The PMs I own are insurance.   

People here are so hung up on the short term (typical human behavior wanting instant gratification), but they aren't really paying attention to the big picture.  Have I really been "proven" wrong?  When blips crash to $10,000, would I be right or wrong?.. how about $5000, or $1000?

Based on past history and human behavior, I know in my gut that many things I've stated here will happen, sooner or later.  It's not possible to know the exact dates.   

There is a very good book that everyone here needs to read, it called: "Extraordinary Popular Delusions and the Madness of Crowds"- written in 1841.  Check it out.

You and I have disagreed on plenty of things.  When have I insulted you?

You've been gambling for 25 years.  Bravo.  Even Warren Buffet couldn't beat the S&P 500 index consistently, so he finally stopped trying and stopped talking about it, and instead advised others to invest in a low cost S&P 500 index fund.

Hung up on the short term?  I've promoted nothing but long term investing on these boards.

And where are all of the riots and looting you predicted many times would take place after the presidential election, no matter who won?

[loco]

You two ought to get a room - lol

Why?  I don't invest in bitcoin.

Ah, yes.  You believe people who call you out on your BS are all gay and should get a room.  You are never wrong, but everyone else is.

[FitnessFrenzy]

$ 19,139.63

[Teutonic Knight 1]

I was joking at the idiocy of the post. Read my second line in the quote ...

"OK - Well actually of course we do know how gold came about."

Vince have U bought any new Picassos for office walls !.

[Flexacon]

Vince have U bought any new Picassos for office walls !.

Those aren't Picassos on his wall, just old pictures of Vissy

[Mr Anabolic]

Why?  I don't invest in bitcoin.

Ah, yes.  You believe people who call you out on your BS are all gay and should get a room. You are never wrong, but everyone else is.

It's a fukin joke - lol   You're truly an ignoramus.  Total waste of time trying to talk any sense or logic to you at all.

[loco]

You're truly ignorant.  Total waste of time trying to talk any sense or logic to you at all.

Yes, yes.  Everyone who disagrees with you is ignorant.  But you are such a genius.  Your mother must be proud.

[Mr Anabolic]

Yes, yes.  Everyone who disagrees with you is ignorant.  But you are such a genius.  Your mother must be proud.

Lots of insecurities in you pal... a lot. 

[loco]

Lots of insecurities in you pal... a lot.

Says the guy hoarding ammo, tuna cans and toilet paper.

You predicted there would be riots and looting like never before after the presidential election, no matter who won.

Where are the riots, Mr Anabolic?  Where is the looting?

[Mr Anabolic]

That's what you said before you sold almost all of them last time. 

That's right.  The guy has lied many times during the course of this thread.  I've been steadfast and unwavering in my opinions and beliefs all the way through this thread.  All these bozos will ever say is "YOU WAS WRONG Mr A... so NANNY NANNY BOO BOO!"   I'm actually flattered to occupy so much space in their tiny little brains, they must think about me all day long.

[Mr Anabolic]

Says the guy hoarding ammo, tuna cans and toilet paper.

You predicted there would be riots and looting like never before after the presidential election, no matter who won.

Where are the riots, Mr Anabolic?  Where is the looting?

All coming.  Be patient little man.

[loco]

All coming.  Be patient little man.

[Flexacon]

Says the guy hoarding ammo, tuna cans and toilet paper.

You predicted there would be riots and looting like never before after the presidential election, no matter who won.

Where are the riots, Mr Anabolic?  Where is the looting?

I prefer hoarding wet wipes and disposable gloves. Takes up a lot less space and it keeps the ass as clean as whistle.

[loco]

I prefer hoarding wet wipes and disposable gloves. Takes up a lot less space and it keeps the ass as clean as whistle.

Some prefer a bidet.

[Mr Anabolic]

LOTS of insecurities.

[loco]

LOTS of insecurities.

That hurts my feelings.

[Flexacon]

Some prefer a bidet.

Billions use this

[Mr Anabolic]

That hurts my feelings.

No way, how that could hurt a keyboard tough guy like you who's sworn duty is to "call ppl out" and put them in their place over an anonymous internet forum? - lol

[loco]

No way, how that could hurt a keyboard tough guy like you who's sworn duty is to "call ppl out" and put them in their place over an anonymous internet forum? - lol

If only we could all be as humble and as knowledgeable as Mr Anabolic.  Now that'd be something.