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

[obsidian]

GiB has said he is working on a timeframe out to a lifetime. If it takes 50yrs to hit 100k he will be correct.

That’s fair enough as gold bugs do the same. I don’t think the people he gave advice to realise he is looking out at 50yrs.

San Francisco, Seattle, Los Angeles, Chicago, Philadelphia, New York - all shitholes or fast becoming shitholes. The US is doomed, to be honest. And the total collapse will not take 50 years. Much sooner than that. BTC will hit $100,000 sooner than you think - IMO.

[Mayday]

San Francisco, Seattle, Los Angeles, Chicago, Philadelphia, New York - all shitholes or fast becoming shitholes. The US is doomed, to be honest. And the total collapse will not take 50 years. Much sooner than that. BTC will hit $100,000 sooner than you think - IMO.

So it’s doomed yet you all still live there……..

When does the US collapse?

When do you think BTC hits 100k?

FYI I do not watch any videos or read any articles posted.

[obsidian]

So it’s doomed yet you all still live there……..

When does the US collapse?

When do you think BTC hits 100k?

FYI I do not watch any videos or read any articles posted.

If you're not watching any videos how can you make an informed opinion? The video shows vacant retail spaces, trashed areas. The regression is unreal.

Not sure when, but the collapse of the US Empire is inevitable. All empires collapse. And the US is rapidly declining. Most politicians in DC are corrupt. Urban cities are crumbling. The rule of law has eroded. It's a hot mess - lol! Sure, it is still functioning. However, the cracks in the foundations are visible in many areas.

You won't visit these links. Posting for others.

https://www.thenation.com/article/society/american-empire-decline/

With unprecedented economic inequality and massive overspending on military expansion, America now looks a lot like 476 CE Rome.

https://www.ushistory.org/civ/6f.asp#:~:text=In%20476%20C.E.%20Romulus%2C%20the,1000%20years%20was%20no%20more.

In 476 C.E. Romulus, the last of the Roman emperors in the west, was overthrown by the Germanic leader Odoacer, who became the first Barbarian to rule in Rome. The order that the Roman Empire had brought to western Europe for 1000 years was no more.

[obsidian]

Binance BNB made a new ATH yesterday. I saw $711.67 per Coinranking. $712.59 per Coinmarketcap. That's the first top 10 crypto to reach ATH after Bitcoin. Ethereum still has a way to go. Looks like BNB might go to $1,000 and beyond. The previous ATH was $699 in 2021.

I unstaked all my BNB with the intent to sell a few months ago. I kept holding out and have still not sold anything. I probably should have left it staking a little longer.

https://ambcrypto.com/from-fud-to-ath-checking-bnbs-remarkable-recovery-to-700/

From FUD to ATH: Checking BNB’s remarkable recovery to $700

It is quite interesting that Binance Coin broke into new price ranges as the prison sentence of its former CEO begins.

Binance Coin [BNB] experienced several positive bounces in the last few days, with 4th June’s move pushing its price into a record-breaking range. This new price range has attracted more traders, leading to a surge in Open Interest to its highest level in months.

Binance breaks into new ATH
An analysis of Binance Coin’s price trend shows that it has experienced five consecutive days of uptrends. The most significant increase occurred on 4th June, when BNB saw a 9.53% rise.

The chart showed that the over 9% increase on 4th June took BNB’s price from around $626 to over $680. This price surge marked a new all-time high for BNB, making it the first altcoin to achieve a significant ATH in this cycle after Bitcoin.

This milestone is particularly notable given the FUD (Fear, Uncertainty, and Doubt) that surrounded it at a point. The FUD started after the US Department of Justice indicted its former CEO, Changpeng Zhao, and the company.

[Mayday]

Because you post 38min videos and when I ask for cliffs you copy/paste timestamps instead of the key points you took away from the video. It’s no different to if I posted pages and pages of raw data and said go chart it.

Homeless and lawlessness serve a purpose for future redevelopment. People seem to think buildings will sit vacant for valuation purposes….. those loans will get called in one way or another as credit lines shrink and they’ll be forced to liquidate at values so fucking low it isn’t funny. Others snap them up and redevelop 😉

You just don’t hear much about it because it doesn’t fit the collapse narrative.

[SouJerz]

Bank of Canada and ECB about to cut rates….  Is Powell warming up the printer “brrrrrrrrr”??   

[obsidian]

Because you post 38min videos and when I ask for cliffs you copy/paste timestamps instead of the key points you took away from the video. It’s no different to if I posted pages and pages of raw data and said go chart it.

Homeless and lawlessness serve a purpose for future redevelopment. People seem to think buildings will sit vacant for valuation purposes….. those loans will get called in one way or another as credit lines shrink and they’ll be forced to liquidate at values so fucking low it isn’t funny. Others snap them up and redevelop 😉

You just don’t hear much about it because it doesn’t fit the collapse narrative.

We'll see how it turns out. All I care about is what's going to happen with the dollar. And I see a continuation of its declining purchasing power, per the last 100+ years. I don't see how it will reverse course.





https://www.usdebtclock.org/

[SouJerz]

We'll see how it turns out. All I care about is what's going to happen with the dollar. And I see a continuation of its declining purchasing power, per the last 100+ years. I don't see how it will reverse course.





https://www.usdebtclock.org/

Isn’t a rather simple and basic response.  People didn’t even earn a dollar an hour back in the day?

Quick Google search people earned .20 cents an hour and ford was paying .26 cents an hour  or 2.34 cents a day.  Fast forward to 2024 California pay fast food workers 20 dollars an hour and back in 2022 when I visited San Fran was offering 22 an hour at in and out by fisherman’s wharf. 

[obsidian]

Isn’t a rather simple and basic response.  People didn’t even earn a dollar an hour back in the day?

Quick Google search people earned .20 cents an hour and ford was paying .26 cents an hour  or 2.34 cents a day.  Fast forward to 2024 California pay fast food workers 20 dollars an hour and back in 2022 when I visited San Fran was offering 22 an hour at in and out by fisherman’s wharf.

Correct. Salaries were around $2-3 per hour in the 60s. I spoke with old-timers who mentioned those numbers.

Salaries will go up to compensate for the dollar's reduction in purchasing power. Minimum wage might eventually be $50 per hour, and up from there. Which means assets like Bitcoin, etc. could increase in price, potentially at a greater rate than the rise in salaries.

[SouJerz]

Correct. Salaries were around $2-3 per hour in the 60s. I spoke with old-timers who mentioned those numbers.

Salaries will go up to compensate for the dollar's reduction in purchasing power. Minimum wage might eventually be $50 per hour, and up from there. Which means assets like Bitcoin, etc. could increase in price, potentially at a greater rate than the rise in salaries.

What’s this “like” Bitcoin you speak of?  ETH to 25,000?

And I agree that’s why I keep scooping up satoshis.  And invest in real estate and some stonks.  It’s not that the dollar purchasing power is going down it’s that prices are going up faster than salaries. 


Like if 10,000 tons of steel cost a a billion euro but for the USA it was 10 billion dollars for the same amount of steel then I would say the dollars purchasing power is declining.  Like shitholes like turkey and Venezuela where there is was hyperinflation.   I just think it’s basic shit.  There’s a central bank in the USA.  It costs 1 million for your dream house but then the central bank prints an extra 30% in currency well now the home should cost 30% more.  And other assests holding dollars is a waste.

[obsidian]

What’s this “like” Bitcoin you speak of?  ETH to 25,000?

And I agree that’s why I keep scooping up satoshis.  And invest in real estate and some stonks.  It’s not that the dollar purchasing power is going down it’s that prices are going up faster than salaries. 


Like if 10,000 tons of steel cost a a billion euro but for the USA it was 10 billion dollars for the same amount of steel then I would say the dollars purchasing power is declining.  Like shitholes like turkey and Venezuela where there is was hyperinflation.   I just think it’s basic shit.  There’s a central bank in the USA.  It costs 1 million for your dream house but then the central bank prints an extra 30% in currency well now the home should cost 30% more.  And other assests holding dollars is a waste.

Ok, this is why assets like Binance BNB are going up. BNB has outperformed BTC and ETH since 2017. It's up 28,483.68% since 2017. BTC is the king of all-time increase though. Since 2009 it's up 1.38 million %. That's relevant for those who got into Bitcoin in 2009 and held through all the ups and downs. Most of us who got into crypto in 2017 or later would have been better off getting BNB. It also appears safer because it already exceeded its previous 2021 ATH and is still looking pretty good after today's dump.

The dollar's purchasing power is going down. That statement can be viewed in isolation, irrespective of salaries. In 1913 a dollar could buy a lot more than in 2024. The purchasing power of the consumer is another matter. If wages rise faster than the dollar devalues then the consumer's purchasing power increases. I agree that the salaries are not keeping pace with the dollar devaluation.

[SouJerz]

Ok, this is why assets like Binance BNB are going up. BNB has outperformed BTC and ETH since 2017. It's up 28,483.68% since 2017. BTC is the king of all-time increase though. Since 2009 it's up 1.38 million %. That's relevant for those who got into Bitcoin in 2009 and held through all the ups and downs. Most of us who got into crypto in 2017 or later would have been better off getting BNB. It also appears safer because it already exceeded its previous 2021 ATH and is still looking pretty good after today's dump.

The dollar's purchasing power is going down. That statement can be viewed in isolation, irrespective of salaries. In 1913 a dollar could buy a lot more than in 2024. The purchasing power of the consumer is another matter. If wages rise faster than the dollar devalues then the consumer's purchasing power increases. I agree that the salaries are not keeping pace with the dollar devaluation.

Speak for yourself Chief I’ve been in this game since 2016!  And I agree Binance would have been the smarter buy but what function does it have other than to use for Binance fees when selling other cryptos?

[obsidian]

Speak for yourself Chief I’ve been in this game since 2016!  And I agree Binance would have been the smarter buy but what function does it have other than to use for Binance fees when selling other cryptos?

That's more function than Bitcoin, to be honest. It also has a steady burning mechanism. Burning will stop when there is 100 million BNB left.

The burning program was implemented with the establishment of Binance in 2017, funded by the sale of BNB tokens.

Asia accounts for 60% of the world's population. Binance has traction in Asia. Binance is hands-down the world's largest crypto exchange by trading volume, with tens of billions of dollars worth of crypto traded each day and access to over 350 cryptocurrencies. Beyond spot crypto, it also includes derivatives such as Bitcoin futures and options.

https://www.binance.com/en/square/post/1389713

The BNB was associated with discounted wages and planned deflation through the burning program.

25 Out of the 200 million BNB tokens initially produced. only about 152 million of them remained after the incineration process.

The burning program leads to natural deflation and supports the price curve of the BNB.

The destruction of the BNB will end when there are only 100 million BNB tokens left in circulation.

[obsidian]

Speak for yourself Chief I’ve been in this game since 2016!  And I agree Binance would have been the smarter buy but what function does it have other than to use for Binance fees when selling other cryptos?

What function does PEPE or Doge have? Or WIF? All they have going is the meme, and a cute image. But it seems that's sometimes more important than real use cases - lol!

[SouJerz]

What function does PEPE or Doge have? Or WIF? All they have going is the meme, and a cute image. But it seems that's sometimes more important than real use cases - lol!

I agree a 1000% on this.  I only hold gold and silver, aka BTC and ETH. I have gambled on alts but I only buy waiting for others to buy drive up the price and I like to leave the casino table early when I double up.  The BTC and ETH are HODL unless there’s a crazy investment opportunity in real estate which hasn’t happened yet.

[SouJerz]

Where’s gib been? Did he sell his BTC and move to Thailand

[Griffith]

Where’s gib been? Did he sell his BTC and move to Thailand

Still recovering from the ETH ETF approvals.

[Mayday]

We'll see how it turns out. All I care about is what's going to happen with the dollar. And I see a continuation of its declining purchasing power, per the last 100+ years. I don't see how it will reverse course.

https://www.usdebtclock.org/

Yes, value declines but it is misleading.

Do you have less today than you did 20yrs ago? The answer is no.

Are things easier or harder than 20yrs ago? The answer is easier.

The advancement of materials, durability, technology is not quantified in currency debasement formulas which is why it is misleading. USD collapse crew has been wrong for decades because of this.

The decades ahead lead to less ownership of goods and services because life will make us decide it’s not beneficial to own something which mostly sits idle. This is how the future decades we can debase currency and wages because you won’t want to buy expensive things anymore. If you can grasp this concept you will be ahead of 98% of people.

[affeman]

Where’s gib been? Did he sell his BTC and move to Thailand

[obsidian]

Yes, value declines but it is misleading.

Do you have less today than you did 20yrs ago? The answer is no.

Are things easier or harder than 20yrs ago? The answer is easier.

The advancement of materials, durability, technology is not quantified in currency debasement formulas which is why it is misleading. USD collapse crew has been wrong for decades because of this.

The decades ahead lead to less ownership of goods and services because life will make us decide it’s not beneficial to own something which mostly sits idle. This is how the future decades we can debase currency and wages because you won’t want to buy expensive things anymore. If you can grasp this concept you will be ahead of 98% of people.

There's some truth to your post for sure. I have a high-horsepower car that's a garage queen. I am too worried that it will get a rock chip when I take it out on the road. I sometimes wonder if I would be better off not having it. But I do love the car and will feel like shit if I did end up selling it.

I will never be an "own nothing and be happy person". But I am not above never leasing cars. I actually enjoy those cars more because I am not worried about wear and tear since it is a lease. Spilling coffee is not a big deal. But I feel like shit if that happens with one of the cars I own.

[Mayday]

There's some truth to your post for sure. I have a high-horsepower car that's a garage queen. I am too worried that it will get a rock chip when I take it out on the road. I sometimes wonder if I would be better off not having it. But I do love the car and will feel like shit if I did end up selling it.

I will never be an "own nothing and be happy person". But I am not above never leasing cars. I actually enjoy those cars more because I am not worried about wear and tear since it is a lease. Spilling coffee is not a big deal. But I feel like shit if that happens with one of the cars I own.

What car do you have?

We are car nuts. Had some nice stuff, C63, RS5, M5 etc. had a 700hp supercharged Aussie V8 which was awesome but I lived in an affluent area and it stood out like crazy to Police so I sold it after a year.

We both work from home, I have done so for 8yrs or so. We have the typical 2 cars. Just sold the Merc for a new Tesla Y Performance. Free fuel from my 40kw solar.

But my 45k car which I own outright, used $30 in fuel the last 2 months. I pay $300/mth just to have the car registered and insured to have the luxury to spend $15/mth in fuel…… that’s how quickly the tables can turn. So next month I am selling my car and buying something for 10k and lowering the monthly rego/insurance to around 150/mth. I will still spend the same $15/mth in fuel but it makes much more sense.

It’s not even that I need to change my car. I don’t need the money but I look at what a waste it is to have so much tied up in something which isn’t giving me joy.

[obsidian]

What car do you have?

We are car nuts. Had some nice stuff, C63, RS5, M5 etc. had a 700hp supercharged Aussie V8 which was awesome but I lived in an affluent area and it stood out like crazy to Police so I sold it after a year.

We both work from home, I have done so for 8yrs or so. We have the typical 2 cars. Just sold the Merc for a new Tesla Y Performance. Free fuel from my 40kw solar.

But my 45k car which I own outright, used $30 in fuel the last 2 months. I pay $300/mth just to have the car registered and insured to have the luxury to spend $15/mth in fuel…… that’s how quickly the tables can turn. So next month I am selling my car and buying something for 10k and lowering the monthly rego/insurance to around 150/mth. I will still spend the same $15/mth in fuel but it makes much more sense.

It’s not even that I need to change my car. I don’t need the money but I look at what a waste it is to have so much tied up in something which isn’t giving me joy.

It's a 850 HP modified Mustang. I bought it new and had various shops do modifications over the years.

Australia also has its fair share of muscle cars. I like the Falcon! I like the idea of more average looking cars being fast and loud. When you see a Ferrari or Lambo you know it's fast. My car is too loud to be a sleeper though. Actually, at idle it is not too crazy loud. WOT is when it sounds insane!

And yes, the fees all add up. Registration, insurance, maintenance. I have it set for storage insurance most of the year. But its still more than not having a car. Boats are the worst. I know people that pay over $1000 per month just to store their boats. A huge money pit.

[Theoak*]

It's a 850 HP modified Mustang. I bought it new and had various shops do modifications over the years.

Australia also has its fair share of muscle cars. I like the Falcon! I like the idea of more average looking cars being fast and loud. When you see a Ferrari or Lambo you know it's fast. My car is too loud to be a sleeper though. Actually, at idle it is not too crazy loud. WOT is when it sounds insane!

And yes, the fees all add up. Registration, insurance, maintenance. I have it set for storage insurance most of the year. But its still more than not having a car. Boats are the worse. I know people that pay over $1000 per month just to store their boats. A huge money pit.

Didn't pick you for a mustang guy given your Eth position . I have 2 of them, one 600hp and the other about to drop motor In 700-800hp. They've greatly gone up in value as no real great car builders in Aus. One is valued at 450-500k and other upon completion this year maybe 350-400k.

[obsidian]

Didn't pick you for a mustang guy given your Eth position . I have 2 of them, one 600hp and the other about to drop motor In 700-800hp. They've greatly gone up in value as no real great car builders in Aus. One is valued at 450-500k and other upon completion this year maybe 350-400k.

I fixed my typo after I looked into it per Fortress - Worse = Worst 

My ETH position? Because it went to POS? I've used my fair share of energy over the years. I mined ETH on and off for 4 years and had some decent energy bills to take care of. 

Those are pretty big numbers. $500,000?!

[obsidian]

https://www.theblock.co/post/300021/gensler-says-ethereum-etf-s-1-approvals-likely-over-the-course-of-this-summer

Gensler says Ethereum ETF S-1 approvals likely 'over the course of this summer'

U.S. Securities and Exchange Commission Chairman Gary Gensler gave comments related to the timeline of spot ether exchange-traded fund listing approval in a Thursday hearing at the United States Senate Committee on Appropriations.

When U.S. Sen. Bill Hagerty (R-TN) asked Gensler about the approval process for ether ETFs, Gensler estimated the approvals to occur sometime this summer.

"Individual issuers still are working through the registration process. It's working smoothly," Gensler said, adding that listing approval could occur "sometime over the course of this summer."

On May 23, the SEC approved spot ether exchange-traded funds (ETFs) to be listed. Industry leaders predicted that, after approvals, their trading could occur sometime in July or August, and likely before November.

Spot ether ETFs give investors exposure to ethereum, the second largest cryptocurrency by market capitalization, without having to hold the asset itself.