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

[gib]

This brings up the question about our dollar currency.  Isn't most currency digital?  Most transactions we make eliminate the need for physical currency.  If every American withdrew all of their money today from bank accounts, PayPal, investments, etc, would there even be enough currency to cover it?  If not, is hyperinflation possible?  Modern day finance is mostly an agreement to send my digits to someone else's account with no paper currency ever changing hands.

Your questions basically provide the answer as to why we should all grab some bitcoin now whilst we still can as a hedge to such future scenarios.

[Teutonic Knight 1]

I would see many of "big money" are already in, but only with a very small % of their overall allocations. What I think will be the big mover is when the masses from emerging countries start buying in, as they acquire increased spending power. India. Latin America. Indonesia. Philippines. Africa. etc.

Just name 5 , out of 55 Afro 'emerging' countries 

Europe,Australia,USA,Japan must be so jelaous of those 'emerging' Afro nations !.

[Mayday]

This brings up the question about our dollar currency.  Isn't most currency digital?  Most transactions we make eliminate the need for physical currency.  If every American withdrew all of their money today from bank accounts, PayPal, investments, etc, would there even be enough currency to cover it?  If not, is hyperinflation possible?  Modern day finance is mostly an agreement to send my digits to someone else's account with no paper currency ever changing hands.

Ratio to M3 is around 34 times leverage to currency. Then you have commodities on top. This is why when things come undone, it happens so fast now because leverage and margin money evaporates in full. Pretty hectic.

So if one wants to move to a system where leverage and margin isn't available, the real value of currency has to take place. For arguments sake, 1 BTC might need to be worth 1 Billion. 

This is why the crypto group push so hard on their marketing blurb for a global currency. Not because their idea would work but because they would become the richest people on the planet overnight. As the price goes up, you will have these consistent drops along the way as the big holders get out little bit.by little bit.

[Griffith]

Just name 5 , out of 55 Afro 'emerging' countries 

Europe,Australia,USA,Japan must be so jelaous of those 'emerging' Afro nations !.

Gib has obviously never been to Africa or lived there.

[a_pupil]

Just name 5 , out of 55 Afro 'emerging' countries 

Europe,Australia,USA,Japan must be so jelaous of those 'emerging' Afro nations !.

Nibiru will flourish through bitcoin, just like wakanda flourished through vibranium

[SOMEPARTS]

I like Kiyosaki but he hasn't been correct about much outside of real estate:


" Robert Kiyosaki predicts that Bitcoin’s price will rise nearly 100% per year over the next three years. (75k) "

https://cointelegraph.com/news/robert-kiyosaki-predicts-bitcoin-will-be-worth-75k-in-3-years

[Teutonic Knight 1]

Nibiru will flourish through bitcoin, just like wakanda flourished through vibranium

Still no #.2 of that stupid movie .

                   

[pellius]

Can anybody explain this current Satoshi Nakamoto thing causing the price to take another dive and a block of cryptocurrency changing hands and why does it matter?

Seems like any change in the status quo always results in a price drop.

[SOMEPARTS]

Can anybody explain this current Satoshi Nakamoto thing causing the price to take another dive and a block of cryptocurrency changing hands and why does it matter?

Seems like any change in the status quo always results in a price drop.

I feel bad for you being so late in this thing. Satoshi Nakamoto is the likely just the pen name for NSA or other gov agency that put this thing in motion as a beta test for bits and bytes to replace paper currency when they reset the dollar. It took off much better than they thought so they just put stops in place to control it while they track everyone using it. Eventually they will kill it off and put in place the FedCoin that will be the new slave money. For anyone who wants to say they can't shape thought like that.....just look at the fallout from this Covid-19 guy...which has caused otherwise normal people to become masked snitches.

[Griffith]

I like Kiyosaki but he hasn't been correct about much outside of real estate:


" Robert Kiyosaki predicts that Bitcoin’s price will rise nearly 100% per year over the next three years. (75k) "

https://cointelegraph.com/news/robert-kiyosaki-predicts-bitcoin-will-be-worth-75k-in-3-years

He advocated keeping most of one's investments in boxes of gold and silver.

He has good advice in other areas but keeping large amounts of treasure chests in one's home is a bit risky. The house could be burned down, robbed etc.

[TheGrinch]

Bitcoin going up = gib 1000 posts a day


Bitcoin going down = crickets

[gib]

Silly comment, and BTC goes up and down an almost infinite number of times per day. Only so many posts I can make.

I have explained many times, why its worth owning BTC, and also why you should buy and hodl for life. You will see... The breadcrumbs have been left for you to follow my fellow getbigger friends (and foes).

[Mr Anabolic]

Bitcoin going up = gib 1000 posts a day


Bitcoin going down = crickets

He's done that many, many times on this thread.   

For some good laughs go back and read the beginning of this thread.  His predictions were absolutely absurd... $100,000-$250,000 per blipcoin.   

These crypto devotees are like a religious cult of myopic sociopaths all circle jerking each other.     

[Mr Anabolic]

Silly comment, and BTC goes up and down an almost infinite number of times per day. Only so many posts I can make.

I have explained many times, why its worth owning BTC, and also why you should buy and hodl for life. You will see... The breadcrumbs have been left for you to follow my fellow getbigger friends (and foes).

Nobody cares about your asinine explanations.  All you're trying to do here is validate yourself.

[gib]

Nobody cares about your asinine explanations.  All you're trying to do here is validate yourself.

BTC has doubled since this thread started. It’s validated itself. You cannot fight the immutable laws of mathematics.

[gib]

Now might be a good time to mete out a little validation...

[gib]

Take a look at your top 5 prior occasions when you called bitcoin a bubble and said it’s value would fall. Your irrational hatred of bitcoin goes back a loooong way (and has been preserved in eternity in the bitcoin archives. Something to look back on from time to time ...

Validation enough for you my friend? 

Be honest. Do you seriously still not own any BTC? (There is nothing shameful in my view, in admitting you were wrong, and then acting accordingly. Buffet did this recently with airline stocks).

[Teutonic Knight 1]

He's done that many, many times on this thread.   

For some good laughs go back and read the beginning of this thread.  His predictions were absolutely absurd... $100,000-$250,000 per blipcoin.   

These crypto devotees are like a religious cult of myopic sociopaths all circle jerking each other.   

 , who will be depositing ( & why  ) US $ 100,000 - $ 250,000 on Wiggzy/gib's bank account 

[SOMEPARTS]

Bitcoin in 2012
It's decentralized, anonymous, rare by design, high tech, unbreakable encryption...the free people's money that will break the backs of the banks and govts and be accepted everywhere with almost no transaction fees.

Bitcoin in 2020
Okay so almost none of that was true, but still buy it because of the name recognition and it will probably go up to 20k again if we can get enough people in the ponzi.

[gib]

Mr A let me put you on spot here.

You have been repeatedly proven wrong with your telling people that bitcoin would collapse time and time again. See the attached examples, captured for getbig history.

(You have also been repeatedly wrong predicting a stock market crash 2010, 2011, 2012, 2013, 2014. 2015, 2016, 2017, 2018, 2019, and 2020 (although this year is not over yet). But still that is an appalling track record.

Do you think bitcoin will do up from here or are you again calling the peak? Put down a clear measurable number in USD that you believe BTC will not exceed. You have already stated that 100k is “absurd”. How about 50k? 30K. 15K. Come on, man up and put your money where your mouth is.

[Slapper]

Bitcoin in 2012
It's decentralized, anonymous, rare by design, high tech, unbreakable encryption...the free people's money that will break the backs of the banks and govts and be accepted everywhere with almost no transaction fees.

Bitcoin in 2020
Okay so almost none of that was true, but still buy it because of the name recognition and it will probably go up to 20k again if we can get enough people in the ponzi.

It all came crumbling down once people realized that one of the largest holders of Bitcoin is the US government and that exchanges like Coinbase were going to carry out KYC.

Yes, Bitcoin is confiscated on a daily basis. Yes, Bitcoin is not anonymous. Yes, Bitcoin is decentralized, but then again, who the fuck cares if the database is decentralized if no one uses it?

Even the encryption protocols are going to be turned to shit once someone finishes a customized quantum computer (which is around the corner by the way).

[Mr Anabolic]

Mr A let me put you on spot here.

You have been repeatedly proven wrong with your telling people that bitcoin would collapse time and time again. See the attached examples, captured for getbig history.

(You have also been repeatedly wrong predicting a stock market crash 2010, 2011, 2012, 2013, 2014. 2015, 2016, 2017, 2018, 2019, and 2020 (although this year is not over yet). But still that is an appalling track record.

Do you think bitcoin will do up from here or are you again calling the peak? Put down a clear measurable number in USD that you believe BTC will not exceed. You have already stated that 100k is “absurd”. How about 50k? 30K. 15K. Come on, man up and put your money where your mouth is.

You either have OCD, ADD or are just plain retarded.   

Blips did collapse you myopic idiot... just like I predicted... $20K to 3K IS a collapse.  All the absurd lies you were telling about it from the beginning; it's money, not taxable, private, decentralized, going to $100-$250K, etc.  lol
 
The stock market is totally being propped up by the Fed's funny money machine.  TRILLIONS of dollars created from nothing, then injected into it.  It's all fake and it WILL ultimately collapse, but in the meantime I'll continue to extract money from it on a daily basis.  The profits one can earn trading derivatives (what I do) makes your precious blipcon gains look like nothing.  Those 1000-5000% profit days are long gone.  Go eat your dick with McAfee.   

[Mr Anabolic]

It all came crumbling down once people realized that one of the largest holders of Bitcoin is the US government and that exchanges like Coinbase were going to carry out KYC.

Yes, Bitcoin is confiscated on a daily basis. Yes, Bitcoin is not anonymous. Yes, Bitcoin is decentralized, but then again, who the fuck cares if the database is decentralized if no one uses it?

Even the encryption protocols are going to be turned to shit once someone finishes a customized quantum computer (which is around the corner by the way).

Forget it, you cannot talk sense to this guy.  Even with facts and pulling up his old contrary posts.  It's not even worth the effort.   

[Griffith]

You either have OCD, ADD or are just plain retarded.   

Blips did collapse you myopic fuck tard... just like I predicted... $20K to 3K IS a collapse.  All the absurd lies you were telling about it from the beginning; it's money, not taxable, private, decentralized, going to $100-$250K, etc.  lol
 
The stock market is totally being propped up by the Fed's funny money machine.  TRILLIONS of dollars created from nothing, then injected into it.  It's all fake and it WILL ultimately collapse, but in the meantime I'll continue to extract money from it on a daily basis.  The profits one can earn trading derivatives (what I do) makes your precious blipcon gains look like nothing.  Those 1000-5000% profit days are long gone.  Go eat your dick with McAfee.

Yes, investments and any earnings from bitcoin have to be declared in tax returns.

[Mr Anabolic]

Yes, investments and any earnings from bitcoin have to be declared in tax returns.

Yes, but 50-60 pages ago Gibberish was claiming he didn't have to pay taxes on his blipcoin gains.   Blips are taxed at the highest tax rate too.  Derivatives/futures/options are only taxed at 22-25%.