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

[joswift]

The "real money" as you call it, continues to devalue over time. You are looking at things backwards. BTC is the REAL MONEY. Fiat currency is the imaginary money.  Buy, and hodl. How hard can that be? If you follow this advice now, you will be extremely grateful you did in 10 years time - trust me on that.

We sell FAKE MONEY (Government printed fiat currencies) and buy REAL MONEY (BTC).

Yes I bought a little more at 81.5K, and then also just under 80K. If dropped more in the sort term (meaning less USD to buy), obviously I would buy more.

the only value any currency has is the peoples belief in it.

[FitnessFrenzy]

$ 78,572.82

[gib]

the only value any currency has is the peoples belief in it.

Correct. And we know that people in the long value scarcity, as opposed to something in infinite supply, as a store of value. That should be obvious.

[joswift]

Correct. And we know that people in the long value scarcity, as opposed to something in infinite supply, as a store of value. That should be obvious.

why save money when they can just keep printing more of it?

No matter what you want to keep be it Bitcoin or gold it has to be exchanged for a medium of exchange at some point.
Without a medium of exchange Gold/Bitcoin is worth nothing.

[GymnJuice]

I saw bitcoin is down just like the markets today. Googling things it looks like it correlates with the markets and is not independent of them (like say real estate, gold, bonds). Being that there is a defined limited quantity of bitcoin do you guys think that will continue?

[gib]

why save money when they can just keep printing more of it?

No matter what you want to keep be it Bitcoin or gold it has to be exchanged for a medium of exchange at some point.
Without a medium of exchange Gold/Bitcoin is worth nothing.

BTC is already a medium of exchange. YOu can use it to buy almost anything, either directly, or via a Bitcoin backed credit card. Although right now, its primary phase is that of store of value. Over time that will lead to growth in it being used as a medium of exchange. And then finally as a unit of account.

[gib]

I saw bitcoin is down just like the markets today. Googling things it looks like it correlates with the markets and is not independent of them (like say real estate, gold, bonds). Being that there is a defined limited quantity of bitcoin do you guys think that will continue?

BTC is the most perfectly scarce asset ever invented. And money is infinite. So BTC will of course rise for ever, in the long term, for obvious reasons.

[affeman]

BTC is the most perfectly scarce asset ever invented. And money is infinite. So BTC will of course rise for ever, in the long term, for obvious reasons.

Yeah, it's only 77k by now. You should scarf up on it immediately, a true bargain considering what you get in return

[gib]

Yeah, it's only 77k by now. You should scarf up on it immediately, a true bargain considering what you get in return

Indeed. We all should.

[obsidian]

Obsidian - I am still trying to figure you out. One the one hand you are obviously smart. On the other, you are also very naive (or you are just trolling?). Either way, I am here to help with a dose of reality. I genuinely want to help and take not pleasure in watching these continued losses you are incurring. May I ask - genuinely curious - how old you are?
 
I hope I at least deterred you from the Trump and Melania coins? Please tell me you at least followed my advice on these?

As for the "Donald Trump's World Liberty Financial", I have tried to explain this before, but it really almost nothing to do with Trump other than claiming an association with him and some of his children. If your investment thesis is "buy what this is fund is buying as they have inside knowledge due to connections with Trump", please reconsider that immediately. Indeed, you just saw what happened with the BITCOIN strategic reserve, and how shitcoins will be distinguished (basically any seized shitcoin can be sold off, with that money used to buy BTC for the reserve).

The market cap of this fund, managed by absolute morons, has now fallen from USD 400m to now just USD 70m (actually now even less than my net worth - not my BTC worth, but my total net assets). 80m is miniscule, for any type of fund - its an irrelevant blip. (And of that 80m, the bulk of it comes from Justin Sun - the genius who bought that banana for 6m and ate it - which maybe explains why around 12% of the fund is Tron).

The Trump thing, and the "building the defi of the future" etc is close to a scam, intended to suck in fools. They obviously have NO IDEA at all what they are doing. For example, their largest holding was ETH (and in just around 6 weeks they have managed to lose 40% of the value of that ETH in USD, and clearly those losses will grow, for obvious reasons).

Looking at what they are investing in, and their timing etc, is basically similar to how a school-boy dgen might be engaging in shitcoinery for the first time, before learning his lesson, absent the pure memes. But it is really, a total embarrassment and an appalling performance.

Of that 70 left, around 2m a year is likely to be being spent on wages, trading fees, compliance costs, etc. I am not sure how they then calculate any profit for the fund managers, but say their "management fee" is 2%pa, that amounts to $1.4m (meaning a total extraction from the NAV of the fund at around 4% a year). So divide that management fee among the founders, give Trump his cut for allowing Trump name to be used, and you can see this is literally irrelevant, on almost all levels.

Here is what I would do if you were you. Bite the bullet, man up, and sell 50% of you Eth now. Put it into BTC. If Eth keeps falling, and if you really love it so much, you can buy it back even cheaper. In the meantime you have some of your wealth in the only global digital commodity - Bitcoin.

I would never sell at this price. I explained to you before. ETH went to $4.9K in 2021. Then after that, BTC crashed to $15.8K in November 2022. If I sold 3 ETH at the ATH 2021 price, I could have bought close to 1 BTC with that cash in 2022. That's a ratio of 3:1 or 0.333 BTC for 1 ETH. That's how you do it. Only morons sell when there is blood in the streets. Yes, ETH will probably still bleed against BTC in the foreseeable future. That's just where we are at this point in time. I expected the charts to be different, but the market decided to overreact to Trump's tariffs and talks about leaving NATO.

Some people are already predicting that the stock market could crash by 30% if the US leaves NATO. If the stock market crashes that much you can imagine how crypto will fare. It's supposed to be a hedge against uncertainty but it has turned out to be way more fragile. Bitcoin Maxi's now want the US government to bail Bitcoin out by buying it up. Bitcoin's POW is a dead end unless nation states are willing to secure it because the mining model will not work decades from now due to diminishing miner rewards. But governments can save that if it is seen as a strategic asset.

Ethereum's fundamentals are better than BTC. BTC is not the most secure blockchain. It's economic security sucks. Yes, only smart people realize that. And right now, it does not matter. I will buy BTC at some point with cash, not by trading one crypto for another in panic. And even though I realize BTC's economic security sucks, it is probably not something to worry about for the next 10-20 years. There are enough morons who will push the price up not knowing anything about the fundamentals.

Ethereum's economic security is probably 50-100 times better than Bitcoin's. I can explain it to you if you don't understand how that is calculated.

[obsidian]

BTC is the most perfectly scarce asset ever invented. And money is infinite. So BTC will of course rise for ever, in the long term, for obvious reasons.

No its not. There are car models that were one-off designs. Only 1.

And Zcash has the same finite supply as BTC - 21 million. The argument that BTC is the most scarce or the most secure is completely false.

[obsidian]

the only value any currency has is the peoples belief in it.

Yes correct. BTC has a cult following, and been able to grab the media's attention. That's where the value comes from. Not because of the utility, fundamentals, security, or technological progress. It's a glorified meme coin.

[Mayday]

My Gold correlation levels. That’s my help ✅

I am spreading FUD and smashing egos online to do my part to smash alts down. It ain’t working lol.

Look, I’m sorry but nobody can talk about foundations and fundamentals when the popular alt token people love is called Fartcoin….. seriously.

In my feed, is all dip buyers. Happy people, loving dips, love XRP, love the upcoming alt season…..

Go measure the performance of influencers and gurus the past 2 months crowing “alt season” “last chance to get 100x”….. fucking annihilated their followers. Euphoria is loving being underwater and buying more!

There is  belief we are early with Fartcoin. There is belief that 1M tokens per week is early cycle. That Trump coin launched and -85% down is still early. that a dude locking himself in a dog cage, eating shit for a 2x pump is early. A guy climbs the Hollywood sign to pump his Degen token is early.

Yet amazingly everyone is talking Saylor trash and how he will get wrecked……. 

[gib]

Yes correct. BTC has a cult following, and been able to grab the media's attention. That's where the value comes from. Not because of the utility, fundamentals, security, or technological progress. It's a glorified meme coin.

Totally wrong. And indeed this will be emphasized when we get the clarity from the new SEC, distinguishing:

-Digital commodity - BITCOIN
-Utility Token - Eg - Filecoin, Uniswap
-Digital Security - Eg - XRP, BNB
-Stablecoins - Eg - USDT
-Meme coins - Eg - Trump coin

And when that happens, boy will you see various tokens tank, vs BTC which will rise (for obvious reasons),

Look at the proof of work to issue the coin, pre-mined coins given to issuers, tokens printed out of thin air with no effort, tokens which just represent stakes in companies, tokens with an unpredictable issuance rate, etc. You will figure it out. Deep down, you already know...

[gib]

My Gold correlation levels. That’s my help ✅

I am spreading FUD and smashing egos online to do my part to smash alts down. It ain’t working lol.

Look, I’m sorry but nobody can talk about foundations and fundamentals when the popular alt token people love is called Fartcoin….. seriously.

In my feed, is all dip buyers. Happy people, loving dips, love XRP, love the upcoming alt season…..

Go measure the performance of influencers and gurus the past 2 months crowing “alt season” “last chance to get 100x”….. fucking annihilated their followers. Euphoria is loving being underwater and buying more!

There is  belief we are early with Fartcoin. There is belief that 1M tokens per week is early cycle. That Trump coin launched and -85% down is still early. that a dude locking himself in a dog cage, eating shit for a 2x pump is early. A guy climbs the Hollywood sign to pump his Degen token is early.

Yet amazingly everyone is talking Saylor trash and how he will get wrecked…….

The funny things is how we are still calling "alts" alts, as though they somehow how BTC-like qualities, and are an "alternative" to BTC. Even the d-gens are learning their lesson - but it takes time...

[Phantom Spunker]

Gib, is now the perfect time for me to buy Bitcoin or should I stick to spice trading for the time being?

[gib]

Gib, is now the perfect time for me to buy Bitcoin or should I stick to spice trading for the time being?

It is ALWAYS a good time to BTC, provided you Hodl and understand that BTC will always rise over time, in comparison to fiat which will always fall over time.

They key, of course, is to understand the difference between short term volatility and a long term trend. So, for example, no one, in the history of BTC, who as DCA'd in monthly, has ever "lost money" over 3 year time period.

So, should you buy now? Yes, of course, provided you understand the hodl. Is now the "perfect" time to buy? That is a rather silly question, and there literally is in the entire history (and future) of BTC, only a single split second which was, or will be, the "perfect time". Don't let that deter you. Just know that anytime is a good time, and that with BTC, those who try to time the market typically fail in succeeding over those who just hodl.

[affeman]

Gib, is now the perfect time for me to buy Bitcoin or should I stick to spice trading for the time being?

Of course you have to buy, we need new fools coming in so that the earlier guys can dump their crap coins on you and cash out. That's the essence of every Ponzi scheme.

[gib]

Of course you have to buy, we need new fools coming in so that the earlier guys can dump their crap coins on you and cash out. That's the essence of every Ponzi scheme.

Fiat is the Ponzi scheme. BTC is our defence against that. Consider BTC a new digital language for the store of money, slowly being learned and adopted globally by citizens around the world, until eventually it becomes the dominant language. Much like English, or much like we shake hands to greet each other. Can try creating an alternative. Unlikely it will work out for you (thousands of shitcoiners have tried - all have failed).  In the future we won't have 200+ currencies. We will have one digitally native currency, BTC, and then a few digital fiat currencies - not of which will be trusted more than BTC as a global store of wealth, for obvious reasons, and which will all devalue over time, to BTC, for obvious reasons...

See you back at 100K and I will carry on then teaching you lessons...

[loco]

Despite challenging economic conditions, the U.S. keeps producing more millionaires. The total number of U.S.-based millionaires more than doubled from 2020 to 2023, reaching nearly 22 million individuals.

How have so many people reached this major financial milestone? It wasn't through get-rich-quick trends like going all in on crypto or launching an app. Most people are achieving the American dream by prioritizing their retirement savings.

Underspending: Automatic contributions from each paycheck help you prioritize saving money and teach you to live off less than your full income.

Staying level-headed: Consistent investing helps you see the bigger picture and reduces the temptation to make impulsive (and expensive) moves based on headlines and trends.

Free money: Many retirement plans come with an employer match. In other words, when you contribute, your employer puts free money into your account.

Risk-based adjustments: The majority of retirement plans automatically adjust your portfolio based on your age and when you plan to retire, also known as target-date investing.

https://finance.yahoo.com/personal-finance/banking/article/the-number-one-way-americans-are-becoming-millionaires-191057199.html

[SouJerz]

For obsidian.  Please explain again how great an investment ethereum is?

[Mayday]

Everyone is still bullish ETH….. the opposite of capitulation.

This is what I mean by ETH bleeding out. It has round tripped 9yrs and most are talking about what a great opportunity it is 🤔


Today marks 1yr from 74k top and blood moon. Equinox on the 20th. If BTC can tag 69k I reckon that’s enough to capitulate ETH to lows and then we might be done. Depends how hard the wealthy prayed to Satan.

[Mayday]

I added here. My target was -89% which was still up from my entry so I added.

We are still in my event window of Jan-Apr 2025. We have a world tariff war but I am looking for 1-2 more events to occur in this window.

If something occurs, we could get a savage 2020 type sell off. I’ll hedge my bets.

[SouJerz]

Buy the VIX

[French]

Solana now accounts for 30% of Ethereum's market capitalization.

Load your bag and let $1,000 per token carry you.