Author Topic: Bitcoins - about to hit $5,000 per coin today!  (Read 1151020 times)

Humble Narcissist

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3950 on: December 26, 2020, 04:02:57 PM »
Nah, even when the Asian countries were cracking down on it there was plenty of time to exit.

BTC isn’t bought with leverage so you don’t get those nightmare unwinding scenarios where it triggers a string of margin calls and sell offs that trigger more margin calls and sell offs.

This thread has people saying BTC wouldn’t hit 5k and today it is 5x that value. In 2021 BTC is going to tap 60k.

At what price point would you change your opinion?
I would never invest 100k into cryptocurrency regardless of price point.

Mayday

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3951 on: December 26, 2020, 04:55:34 PM »
I would never invest 100k into cryptocurrency regardless of price point.

Fair enough but just keep in mind the answer to all of this is they are going to inflate the fuck out of everything.

BTC today, is a front run on that ‘everything’......assuming it becomes more regulated.

gib

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3952 on: December 26, 2020, 04:58:58 PM »
I wouldn't invest anywhere near that much as you could lose it all overnight.

...Says the same person who would quite possibly keep the same amount of cash in the bank. ... :)

With respect, your statement is rather idiotic if you think about it. First, because when keeping the money in the bank your are actually "investing" it also, only with certainty that it is slowly but surely being devalued day after day after day. And secondly, because you could lose all the money in your bank "overnight" also. In fact this scenario is actually more likely that this happening to Bitcoin (for many reasons). Bitcoin is your defense against these known risks.

gib

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3953 on: December 26, 2020, 05:03:17 PM »
Bitcoin is a Ponzi scheme but Pozi schemes can make you money if you get out in time.

I have explained many times why this statement is nonsense. Please read my earlier comments on this topic, when I addressed the same comments made repeatedly by Mr Anabolic.

You are looking at it entirely the wrong way around. Fiat currency is the Ponzi scheme. Bitcoin is our defense against that.

gib

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3954 on: December 26, 2020, 05:07:24 PM »

Notice how the bitcoin cheerleaders stopped posting after the price dumped.  Wait until the price falls back to $1000, you'll never see them post in this thread again, just as I predicted a few messages back. 
   

Lol @ Mr Anabolic with his various "predictions". Hilarious to look back in his nonsense...  ;D

gib

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3955 on: December 27, 2020, 01:37:04 AM »
Banksters will be able to naked short bitcoins and drive the price down like they do with precious metals.

Gonna be interesting when it collapses $1000's in a few minutes and you didn't even take profits on one.  You'll disappear... never to post in this thread again.

Lol @ Mr A. Truly hilarious to read some of his old posts...  :)

gib

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3956 on: December 27, 2020, 01:40:48 AM »
One more...


Many pages ago I said blipcoins were played out.  Blips will go up and down, but it is range bound and will not make new highs. 

Maybe your 20 blipcoins only existed in your mind.  Your claims (and everything you posted here) are bullshit and mean absolutely nothing. 

You are a disingenuous POS.  Anyone with an IQ above 90 who wants to spend a few hours re-reading this thread will realize this. 

Hilarious! Poor old Mr A being owned by the GetBig archives...

Humble Narcissist

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3957 on: December 27, 2020, 03:20:47 AM »
...Says the same person who would quite possibly keep the same amount of cash in the bank. ... :)

With respect, your statement is rather idiotic if you think about it. First, because when keeping the money in the bank your are actually "investing" it also, only with certainty that it is slowly but surely being devalued day after day after day. And secondly, because you could lose all the money in your bank "overnight" also. In fact this scenario is actually more likely that this happening to Bitcoin (for many reasons). Bitcoin is your defense against these known risks.
When did I say to leave over $100k in the bank?  The bank is insured whereas Bitcoin is not so it would be smarter if you had to choose between the two.  One day you guys may wake up with all your Bitcoin gone like dust in the wind.  Who are you going to for help to get your imaginary money back?

I have said I have a little Bitcoin in online casino accounts because it is easier to cash out but I would never have 100k of it.  That 100k would be much safer anywhere and KEEPING your money is more important than anything else.

FitnessFrenzy

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3958 on: December 27, 2020, 03:23:32 AM »
$ 28,275.40

gib

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3959 on: December 27, 2020, 03:46:11 AM »
When did I say to leave over $100k in the bank?  The bank is insured whereas Bitcoin is not so it would be smarter if you had to choose between the two.  One day you guys may wake up with all your Bitcoin gone like dust in the wind.  Who are you going to for help to get your imaginary money back?

I have said I have a little Bitcoin in online casino accounts because it is easier to cash out but I would never have 100k of it.  That 100k would be much safer anywhere and KEEPING your money is more important than anything else.

The bank is insured??? Who do you think is "insuring the bank"? its the same people who are stealing from you each and every day in the ponzi scam called the USD. Bank goes bust? Yes, easy - print some more money to bail them out. We have seen this happen in various forms, time and time again.

Bitcoin is your insurance against the people who insure the bank!

I'm glad you have some BTC, but please please keep it offline, in cold storage. Grab what you can now, and hodl. If you can acquire a single coin now, do so. Doing so, could really set you up for life in decade from now.


Humble Narcissist

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3960 on: December 27, 2020, 03:51:14 AM »
The bank is insured??? Who do you think is "insuring the bank"? its the same people who are stealing from you each and every day in the ponzi scam called the USD. Bank goes bust? Yes, easy - print some more money to bail them out. We have seen this happen in various forms, time and time again.

Bitcoin is your insurance against the people who insure the bank!

I'm glad you have some BTC, but please please keep it offline, in cold storage. Grab what you can now, and hodl. If you can acquire a single coin now, do so. Doing so, could really set you up for life in decade from now.
If the currency goes tits up and our money is stolen from the bank we are all fucked, regardless of how much crypto we own.  Again, Bitcoin can disappear over night and there isn't a damn thing you or anyone else can do about it.  Do we even know who created it for sure or where he resides?

gib

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3961 on: December 27, 2020, 03:58:20 AM »
If the currency goes tits up and our money is stolen from the bank we are all fucked, regardless of how much crypto we own.  Again, Bitcoin can disappear over night and there isn't a damn thing you or anyone else can do about it.  Do we even know who created it for sure or where he resides?

With respect HN, I have explained this before. BTC is immutable. It is a mathematical algorithm. BTC cannot "disappear". Money issues by a Government, or held in a bank on the other hand, can very well disappear. There is no blockchain for such money, can can be infinitely printed, and can be instantly dishonored by the party that issued it.

BTC is our defense against currency weakness. BTC has taken the role that gold played in the past, only is superior in many ways. BTC is your "bank account in the internet" for every single person in the world. No middle man. No Government. No counterparty risk. In every country where we have seen currencies or regimes collapse, we have seen demand for BTC soar. The reason being that the value of BTC transcends local risks, and can be used and is accepted globally.

gib

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3962 on: December 27, 2020, 04:00:24 AM »
Mr A, it warms my heart that after calling Bitcoin a bubble/ponzi scheme and advising people NOT TO BUY back in November 13, 2013, 05:1:42 PM when BTC was $381 per coin (and continuously like a broken record since then), that you are now expressing the view that Bitcoin will go higher and that we are not at the peak yet. What a turn around! We are making some good progress with you.

You have in the past been both small-minded, arrogant, closed-minded, conceited, stubborn, bigoted, pig-headed and obstinate in your refusal to accept reality, and until recently you simply continued over and over with attempts to produce "false objections" with regard to the validity of Bitcoin.


You have exemplified with your "self-bargaining" how much idiocy and misunderstanding exists which puts people off buying BTC, which over time will be demystified due to larger institutions legitimizing BTC. And this fear (and ignorance by the masses) is indeed one reason why we can have so much confidence that there is so much huge upside potential ahead. Some of your nonsense on your self bargaining has included:

-People can hack an exchange so its not safe.
-BTC is only used by bad people.
-The Government will shut it down.
-Its not "real" as to opposed to gold which is.
-Its not easy to buy it.
-It only has a short period of history.
-There is no limit on supply and can be infinitely produced.
-A FedCoin will lead to reduced demand for BTC.
-Transaction speed is too slow for mass adoption.
-The price is too volatile.
-Its not typically used to purchase things.
-It will be taxed.
-Its not anonymous.

And my absolute favorite:

-BTC disappears "when the electricity is turned off".

and on and on the nonsense goes.

A respectful and more dignified approach for an older person such as yourself, would have been to have a more open and enquiring mind, and to ask about these topics and then have someone explain them to you. What you instead did was to make these potential objections as statements of fact, which then resulted you looking stupid when they were debunked. That in turn provoked you to take an aggressive and hostile stance (name-calling, making deceitful misquotes of others, etc), which actually did nothing to address the substance of the objections you raised.

You do have the opportunity to change your stance. Ultimately that is part of the purpose of the discussion here. For us to help each other.

gib

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3963 on: December 27, 2020, 04:22:11 AM »
The irony of the whole Mr A debacle, is that he came so close to getting it. He understands what is happening in the world, but he failed to accept that gold was being usurped by something far superior to what gold was traditionally used for.

So close, yet so far. It is the failure to adapt that has been the downfall of most companies, and this same concept also applies to the preservation of wealth. Old age is essentially the failure of the body to stay young. And in the end, its this failure that eventually results in our death.

The good news for the metaphorical "Mr A", (a person who is well-meaning and well-intentioned, not dumb by any means but also no "rocket-scientist") is it is still early days in the rise of a new global store of value. One that may possibly last for many decades or even centuries ahead. A Bitcoin or at least part of a Bitcoin, is in reach for all of us here, if we want some. Forget about where prices where, or how much we "missed out on" by failing to invest earlier. Very few people invest in successful companies, right from the outset. Apple, Google, Amazon, or Microsoft for example. But at a certain point, when we see their legitimate growth, we can, and should invest to benefit from the growth ahead.

I am now off the the gym for a powerlifting type workout (only with reps in the 8-10 range). Then morning coffee and a beach walk. Will be online in the evening.

Oh, and we have passed $24,000.

It costs you just USD 24 cents to acquire 1000 Satoshies. Still super cheap!

manuelsonn

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3964 on: December 27, 2020, 01:00:17 PM »
still a ponzi

stingray

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3965 on: December 27, 2020, 01:56:00 PM »
Im with gib on this issue, i wish i kept all my bitcoins years ago, could of been a multi, i didnt realise the boom btc was going to have

Humble Narcissist

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3966 on: December 27, 2020, 03:03:59 PM »

gib

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3967 on: December 27, 2020, 11:57:34 PM »
still a ponzi

You are confusing concepts. BTC does not pay any kind of yield or profit. Unlike for example the fund that Bernie Madoff ran, where existing "investors" (aka suckers) were paid profits from the funds of others (even bigger suckers), and the only person actually making money being the scammer himself who operated the fund.

BTC is as much of a "scam" as gold is, in that it produces no earnings yield, is limited in supply, (BTC indeed is perfectly and mathematically  limited whereas gold is not), and is controlled by no-one (ie its value and control is decentralized, and is entirely dependent on the collective sum of what others are prepared to pay for it). And both gold and BTC are far less scams that fiat currency (which ironically is really the ultimate Ponzi scheme, in part because in the past so few people actually realized this).

I have explained this earlier (many times). Please read prior posts. I hope you can give some thought to this so that you understand it.

At a very simplistic level, BTC is limited in supply. BTC is fast becoming the global baseline store of value in the new world (where everything is digital). Cash printed by Governments is infinite in supply. Cash is a sovereign currency, designed for short term use as a method of value exchange, pegged and valued as a function of the total amount of supply of cash in circulation as compared to Bitcoin.

obsidian

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3968 on: December 28, 2020, 12:04:03 AM »
Ethereum is rallying nicely today while Bitcoin is dropping. Many feel Ethereum is very undervalued at the moment and that it will eventually settle at a ratio of 10:1 with Bitcoin. Will Bitcoin ever see $1 million and Ethereum $100,000? Who knows. Or perhaps it will go to zero as gold bug Peter Schiff predicted? It would seem as of today you should do the complete opposite of what Peter Schiff says. When he says sell Bitcoin you buy it. When he eventually decides to buy Bitcoin you sell! lmao!

https://blockspectator.com/analysis-ethereum-potential-100000-price-peak/

gib

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3969 on: December 28, 2020, 12:49:50 AM »
Ethereum is rallying nicely today while Bitcoin is dropping. Many feel Ethereum is very undervalued at the moment and that it will eventually settle at a ratio of 10:1 with Bitcoin. Will Bitcoin ever see $1 million and Ethereum $100,000? Who knows. Or perhaps it will go to zero as gold bug Peter Schiff predicted? It would seem as of today you should do the complete opposite of what Peter Schiff says. When he says sell Bitcoin you buy it. When he eventually decides to buy Bitcoin you sell! lmao!

https://blockspectator.com/analysis-ethereum-potential-100000-price-peak/

Peter Schiff is one of the last hold-outs. Like the proverbial Mr A, he knows deep down he is wrong, but he also if fearful of acknowledging it.

We have seen many hard core anti Bitcoin leaders in investment finance change their views, and I respect anyone who can admit they were wrong. For example Ray Dalio, Jamie Dimon, George Soros, Jim Rogers have all come around to now supporting BTC as an important and legitimate store of wealth. All very influential names. It will be very interesting to see if / when Buffett changes his stance, although he is already indirectly invested in any case via some of the companies in his portfolio.

The lesson here for all of us is its OK to be wrong. However what is not OK, is to know we were wrong, but then to fail to admit it. Such stubborn pride, and outright obstinate pig-headedness, has been the downfall of many.

Griffith

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3970 on: December 28, 2020, 01:22:09 AM »
Peter Schiff is one of the last hold-outs. Like the proverbial Mr A, he knows deep down he is wrong, but he also if fearful of acknowledging it.

We have seen many hard core anti Bitcoin leaders in investment finance change their views, and I respect anyone who can admit they were wrong. For example Ray Dalio, Jamie Dimon, George Soros, Jim Rogers. All very influential names. It will be very interesting to see if / when Buffett changes his stance, although he is already indirectly invested in any case via some of the companies in his portfolio.

The lesson here for all of us is its OK to be wrong. However what is not OK, is to know we were wrong, but then to fail to admit it. Such stubborn pride, and outright obstinate pig-headedness, has been the downfall of many.

 :D

obsidian

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3971 on: December 28, 2020, 01:35:21 AM »
Peter Schiff is one of the last hold-outs. Like the proverbial Mr A, he knows deep down he is wrong, but he also if fearful of acknowledging it.

We have seen many hard core anti Bitcoin leaders in investment finance change their views, and I respect anyone who can admit they were wrong. For example Ray Dalio, Jamie Dimon, George Soros, Jim Rogers. All very influential names. It will be very interesting to see if / when Buffett changes his stance, although he is already indirectly invested in any case via some of the companies in his portfolio.

The lesson here for all of us is its OK to be wrong. However what is not OK, is to know we were wrong, but then to fail to admit it. Such stubborn pride, and outright obstinate pig-headedness, has been the downfall of many.
Someone gifted Schiff Bitcoin and a few other cryptos. Buffet was also gifted cryptos by Tron's Justin Sun after he paid millions of dollars to have a lunch with him. So Schiff and Buffet probably have more cryptos in their portfolio than anyone on Getbig. Schiff's clients would be pissed off if it turns out he has secretly been buying Bitcoin while bad mouthing it. Apparently his son did buy into Bitcoin.

https://finance.yahoo.com/news/cryptocurrency-tron-ceo-warren-buffett-glide-charity-lunch-212442425.html

Mayday

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3972 on: December 28, 2020, 03:59:42 AM »
They will learn.

That is a good point to make. We did learn.

Interest rates are at 0%. Consumer inflation is sub 2%. The Federal Reserve (and indeed central banks across the globe) increased the M1 40% in one year.......

Gold is up 23% since the pandemic.
The Dow Jones up 62% since the pandemic.
BTC 300%+ since the pandemic.

Yet people are acting like BTC is the devil?   

The debt system is maxed out. That's why you are seeing 40% in M1 which is generally 5% or so but there is little to no consumer inflation because QE is being belted into the stockmarket and other financial markets. 

The Dow Jones growing like a weed despite huge levels of unemployment......  but it's BTC is the devil.....

Mayday

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3973 on: December 28, 2020, 04:02:21 AM »
still a ponzi

The current monetary system is a ponzi system because it is based on debt.

It requires new players to increase their leverage in order to purchase property from people with lower leverage. New players are provided longer mortgage lengths and/or lower interest rates in order for them to increase the amount they can borrow.

Whether you like it or not, that's how our world works and it's why the M1 increased 40% this year because the debt is unwinding because there is no business to be done right now and they are trying to plug the gap.

gib

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Re: Bitcoins - about to hit $5,000 per coin today!
« Reply #3974 on: December 28, 2020, 04:19:21 AM »
The current monetary system is a ponzi system because it is based on debt.

It requires new players to increase their leverage in order to purchase property from people with lower leverage. New players are provided longer mortgage lengths and/or lower interest rates in order for them to increase the amount they can borrow.

Whether you like it or not, that's how our world works and it's why the M1 increased 40% this year because the debt is unwinding because there is no business to be done right now and they are trying to plug the gap.

Fully agree. Why more people don't see this or understand this amazes me.