Author Topic: Bitcoins - about to hit $5,000 per coin today! (Read 1131575 times)

Thin Lizzy · « **Reply #5125 on:** February 22, 2021, 06:16:25 AM »

Market as a whole looks shaky. Apple has a classic head and shoulders top going.

SOMEPARTS · « **Reply #5126 on:** February 22, 2021, 06:43:03 AM »

Quote from: Thin Lizzy on February 22, 2021, 06:16:25 AM

Market as a whole looks shaky. Apple has a classic head and shoulders top going.

Wind pulling back from the sails. Everything is directly tied to continued trillion dollar stimulus if it is to stay the same. That includes crypto.

Bindare_Dundat · « **Reply #5127 on:** February 22, 2021, 06:58:27 AM »

Already leveling off and heading up. It'll probably be choppy heading into end of Feb. Bitcoin futures this month.

SOMEPARTS · « **Reply #5128 on:** February 22, 2021, 07:27:24 AM »

Quote from: Bindare_Dundat on February 22, 2021, 06:58:27 AM

Already leveling off and heading up. It'll probably be choppy heading into end of Feb. Bitcoin futures this month.

Choppy is what you call it when a guy like Musk is on the other side of the trade. Never marry a trade.

Musk knows some of you HODL guys are in for life. This is the equivalent of the seeing all the overweight shorts on Gamestop. Easy pickings if you can move the market with one blurb.

polychronopolous · « **Reply #5129 on:** February 22, 2021, 07:37:45 AM »

Quote from: Bindare_Dundat on February 22, 2021, 05:37:59 AM

I'm starting to get the feeling that you carry around a trombone everytime you have something to say as a punctuation tool.

SOMEPARTS · « **Reply #5130 on:** February 22, 2021, 07:44:18 AM »

Quote from: polychronopolous on February 22, 2021, 07:37:45 AM

Hey, if I'm wrong I'm wrong.

polychronopolous · « **Reply #5131 on:** February 22, 2021, 08:02:03 AM »

Quote from: SOMEPARTS on February 22, 2021, 07:44:18 AM

Hey, if I'm wrong I'm wrong.

I personally take zero enjoyment in seeing you be wrong.

The adoption is right there before your very eyes and it is being bought up by some really big hitters. It's worth a percent or 2 of your portfolio imo.

polychronopolous · « **Reply #5132 on:** February 22, 2021, 09:06:18 AM »

Stage 3 of Grief - Bargaining.

"If I were to ACTUALLY buy some Bitcoin"

The tide is starting to turn my friends.

Thin Lizzy · « **Reply #5133 on:** February 22, 2021, 09:09:08 AM »

Quote from: polychronopolous on February 22, 2021, 09:06:18 AM

Stage 3 of Grief - Bargaining.

"If I were to ACTUALLY buy some Bitcoin"

The tide is starting to turn my friends.

Schiff has a way of snatching defeat from the jaws of victory. He predicts the financial crisis but invests in European and Asian stocks which went down even more than US stocks. Then he moves his operations to Puerto Rico right before the big hurricane there.

Humble Narcissist · « **Reply #5134 on:** February 22, 2021, 09:22:37 AM »

Quote from: polychronopolous on February 22, 2021, 09:06:18 AM

Stage 3 of Grief - Bargaining.

"If I were to ACTUALLY buy some Bitcoin"

The tide is starting to turn my friends.

Schiff is right.

polychronopolous · « **Reply #5135 on:** February 22, 2021, 09:40:05 AM »

Quote from: Humble Narcissist on February 22, 2021, 09:22:37 AM

Schiff is right.

Dan Held as "held onto" and written about Bitcoin since around 2012.

I would argue he is about 10,000 times more knowledge about the subject than Peter Schiff.

Dan is being coy but he knows the answer to his question. Long time holders will sell bits of it when the price has appreciated a helluva lot more than it has now or they may never sell and pass it along to their kids.

Humble Narcissist · « **Reply #5136 on:** February 22, 2021, 09:42:41 AM »

Quote from: polychronopolous on February 22, 2021, 09:40:05 AM

Dan Held as "held onto" and written about Bitcoin since around 2012.

I would argue he is about 10,000 times more knowledge about the subject than Peter Schiff.

Dan is being coy but he knows the answer to his question. Long time holders will sell bits of it when the price has appreciated a helluva lot more than it has now or they may never sell and pass it along to their kids.

I'd be pissed if my parents left me Bitcoin as inheritance. They might as well pass down a glass of tap water to you.

El Diablo Blanco · « **Reply #5137 on:** February 22, 2021, 09:53:24 AM »

What's crazy is do we know the net worth of the big holders now? the Winkelvoss twins were already worth billions when bitcoin was at $5k. They may actually be the richest people on earth if they can somehow sell. Problem is once they try to unload the value is going to tank. So this is a sllllloooooowwww burn game. Sell a bit at a time to not shake the market up.

polychronopolous · « **Reply #5138 on:** February 22, 2021, 10:01:10 AM »

Quote from: El Diablo Blanco on February 22, 2021, 09:53:24 AM

What's crazy is do we know the net worth of the big holders now? the Winkelvoss twins were already worth billions when bitcoin was at $5k. They may actually be the richest people on earth if they can somehow sell. Problem is once they try to unload the value is going to tank. So this is a sllllloooooowwww burn game. Sell a bit at a time to not shake the market up.

Mayday · « **Reply #5139 on:** February 22, 2021, 11:35:58 AM »

Quote from: Humble Narcissist on February 22, 2021, 09:22:37 AM

Schiff is right.

Not really.

The idea of holding is to take out debt against BTC and avoiding paying taxes.

Assume today at a 1T market you have 1M in BTC. Assume BTC will hit 100T in 10yrs which give you 100M in BTC. Borrow 100k/yr, add some 5% interest and some CPI each year and you end up with something like 10M debt and 90M capital never having paid taxes.

It’s a pretty compelling argument when a worker is faced paying 50% income tax vs an alternative saying hey, you pay me 5% a year instead of 50% and keep your asset which will double in value each year.

Today you can put up your BTC as collateral and borrow against it. Put your BTC in escrow, I believe it’s 9% interest per year and you can borrow 35% of it’s value.

Can average Joe do that with physical gold?

Bindare_Dundat · « **Reply #5140 on:** February 22, 2021, 11:45:02 AM »

Its hilarious, we dropped to a price that people were masterbating over just recently and the haters rejoice and thr newbies panic. The rest, buy. Lol

Mayday · « **Reply #5141 on:** February 22, 2021, 12:50:33 PM »

Quote from: Bindare_Dundat on February 22, 2021, 11:45:02 AM

Its hilarious, we dropped to a price that people were masterbating over just recently and the haters rejoice and thr newbies panic. The rest, buy. Lol

58k down to 46.7k in a day is pretty brutal to be fair. A huge number just got wrecked.

Saylor had 800M in tether created the other day. The long massive wick on today’s pullback is him crashing the market and buying it back up.

If January Tesla play done by Saylor is anything to go buy, the 2nd day of market manipulation drove a lower price than the first day. I’m placing buy orders to hopefully snap something up cheap in the wick

polychronopolous · « **Reply #5142 on:** February 22, 2021, 01:30:39 PM »

Quote from: Mayday on February 22, 2021, 11:35:58 AM

Not really.

The idea of holding is to take out debt against BTC and avoiding paying taxes.

Assume today at a 1T market you have 1M in BTC. Assume BTC will hit 100T in 10yrs which give you 100M in BTC. Borrow 100k/yr, add some 5% interest and some CPI each year and you end up with something like 10M debt and 90M capital never having paid taxes.

It’s a pretty compelling argument when a worker is faced paying 50% income tax vs an alternative saying hey, you pay me 5% a year instead of 50% and keep your asset which will double in value each year.

Today you can put up your BTC as collateral and borrow against it. Put your BTC in escrow, I believe it’s 9% interest per year and you can borrow 35% of it’s value.

Can average Joe do that with physical gold?

That's pretty much exactly what Saylor mentioned to Ben Askren when asked when would be a good time to sell.

obsidian · « **Reply #5143 on:** February 22, 2021, 01:48:35 PM »

Quote from: Mayday on February 22, 2021, 11:35:58 AM

Not really.

The idea of holding is to take out debt against BTC and avoiding paying taxes.

Assume today at a 1T market you have 1M in BTC. Assume BTC will hit 100T in 10yrs which give you 100M in BTC. Borrow 100k/yr, add some 5% interest and some CPI each year and you end up with something like 10M debt and 90M capital never having paid taxes.

It’s a pretty compelling argument when a worker is faced paying 50% income tax vs an alternative saying hey, you pay me 5% a year instead of 50% and keep your asset which will double in value each year.

Today you can put up your BTC as collateral and borrow against it. Put your BTC in escrow, I believe it’s 9% interest per year and you can borrow 35% of it’s value.

Can average Joe do that with physical gold?

So are you then basically paying the debt off with the interest? The BTC amount in escrow stays the same but the interest is paid into a fiat checking account?

Also, what's in it for the company paying out interest? If you put your BTC in escrow are they investing those funds that the BTC represents? Why would they pay out 9% interest? They must be making money somehow...

obsidian · « **Reply #5144 on:** February 22, 2021, 01:50:10 PM »

Quote from: polychronopolous on February 22, 2021, 01:30:39 PM

That's pretty much exactly what Saylor mentioned to Ben Askren when asked when would be a good time to sell.

Yes I saw that recently:

obsidian · « **Reply #5145 on:** February 22, 2021, 01:55:43 PM »

Quote from: El Diablo Blanco on February 22, 2021, 09:53:24 AM

What's crazy is do we know the net worth of the big holders now? the Winkelvoss twins were already worth billions when bitcoin was at $5k. They may actually be the richest people on earth if they can somehow sell. Problem is once they try to unload the value is going to tank. So this is a sllllloooooowwww burn game. Sell a bit at a time to not shake the market up.

No they are not the richest. They are worth about $3.5 billion. If BTC 20x from here to $1 million they would be worth $70 billion. Musk and Bezos are worth around $160 billion right now. And the Rothschilds and the other "families" are worth trillions - but Forbes won't mention this.

https://decrypt.co/57041/winklevoss-twins-bitcoin-fortune-billion-elon-musk

Also this is interesting:

https://bitcointreasuries.org/

obsidian · « **Reply #5146 on:** February 22, 2021, 01:58:15 PM »

Quote from: polychronopolous on February 22, 2021, 09:06:18 AM

Stage 3 of Grief - Bargaining.

"If I were to ACTUALLY buy some Bitcoin"

The tide is starting to turn my friends.

Lol yes when Schiff buys in you sell lmao!

Theoak* · « **Reply #5147 on:** February 22, 2021, 04:10:43 PM »

Quote from: Mayday on February 22, 2021, 12:50:33 PM

58k down to 46.7k in a day is pretty brutal to be fair. A huge number just got wrecked.

Saylor had 800M in tether created the other day. The long massive wick on today’s pullback is him crashing the market and buying it back up.

If January Tesla play done by Saylor is anything to go buy, the 2nd day of market manipulation drove a lower price than the first day. I’m placing buy orders to hopefully snap something up cheap in the wick

Yep, just put another 10.5k into btc when I saw the spike down..

obsidian · « **Reply #5148 on:** February 22, 2021, 04:30:08 PM »

obsidian · « **Reply #5149 on:** February 22, 2021, 04:31:33 PM »

Ivan not worried. Corrections are healthy. He is also expecting an incoming Ethereum pump.

You have to respect the daaamp and the paaamp!