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

[obsidian]

Yep because the HODL percentage dries up supply causing parabolic runs. In small markets very little is required because you have less players therefore like Dogecoin the HODL ratio is going to be high and have a huge impact on price.

When 98% HODL you probably see a 1,000x or more effect. Meaning 50M net change equals a 50B kit cap increase. This is why it flies up so quick and flies down so quick. If you are in you need to know how to exit.

This is why Elon is a prick because he is making his buddies rich and burning good, honest people. He pumps so his 98% buddies can exit

Thanks. Yes this is a fascinating space we are in. You need to have the right mindset and can't be too emotionally attached.

[gib]

Coca Cola s pushing an anti-white narrative. Hopefully they will not be best for much longer. I will personally never purchase a Coca Cola product again,.

Lol, you say that, but really? Its like saying you will never buy something "from China" again, or never eat a Big Mac. Easier said than done...

I once vowed never again to fly United Air. Again, easier said than done!

[Bindare_Dundat]

I will get back into BTC for sure because it does better in bear markets. I think Ethereum will also do better compared to 2018 and not crash as hard. Cardano and Polkadot perhaps also because of all the staking that will prevent panic selling.

Alex cracks me up. Hilarious video below. No he does not think the bull run is over but he does provide some much needed reality checks. I also like how he refers to the crypto holders from 2017-2018 that remembered hodling all the way to the bottom with their diamond hands - "No they are not going to tell you when it’s all over and they are not going to go back to being middle class" LMAO! I'm one of them. Could have had a much bigger bag if I sold when Euphoria set in. My plan is to trade / sell perhaps 30% of my crypto holdings sometime this year to try and grow my portfolio. The remainder I will just stake as a long term investment strategy (like Saylor) and will not be too concerned with market corrections.

All great points.  The strategy pays off way belter than holding into long bear markets.
yes man. Stake for sure.

[El Diablo Blanco]

So why is bitcoin the best?

People will say because it's the first but like any technology , it will become obsolete in the near future when better Cryptos get created, ones with less energy use, easier to use, better code etc....  It will become the Windows 95 of Cryptos

[El Diablo Blanco]

Yes back in yesterday at .413 hoping for the dollar today.

So many people are hoping for a dollar that I bet it will last a nanosecond at $1 if it makes it there before every limit sell order tries to execute at once.  Watch these crypto sites crash trying to sell off all of it.

[Bindare_Dundat]

So many people are hoping for a dollar that I bet it will last a nanosecond at $1 if it makes it there before every limit sell order tries to execute at once.  Watch these crypto sites crash trying to sell off all of it.

If it gets close to a dollar I will sell everything I own crypto wise because that will be the biggest sell sign ever.

[gib]

People will say because it's the first but like any technology , it will become obsolete in the near future when better Cryptos get created, ones with less energy use, easier to use, better code etc....  It will become the Windows 95 of Cryptos

I think you are missing the point on BTC.

Code is regularly improved over time. User interfaces and 2nd layers will be built on top of BTC. The energy used is BTC's biggest strength (but that energy will over time come from entirely sustainable sources, for obvious reasons driven by economics...)

[Bindare_Dundat]

Eth having a good run. 25% up since the dump.

CHZ having a good one too. Up 30% since the dump. almost all my alts have performed better than BTC since the crash.

[pellius]

Not everyone bought btc at the quantity and price you paid for it. The rest of us have better opportunities at maximizing our initial investment funds in other projects. If you think BTC is going to be the only thing around in 5 years, youre seriously mistaken.

Its not about finding "the one" like you keep bringing up, its finding several projects that will be of value in the coming years. Going through your posts , I get the impression yoire the only person suggesting there will be one crypto entity around.

Ethereum, Cardano, Chainlink, Uni, Polkadot, etc, they will be here for quite some time because they have good teams around them and they have utility. 


I was attempting to show the difference between those projects that have some utility as opposed to those that just have a group of people online  trying to drive the price up for no reason other than to make some quick bucks overnight.

I don't understand your terminology. What do you mean by "projects"? A project is creating or organizing something in which there is a beginning or and an end. Remodeling my kitchen is a project. Developing a more fuel efficient car is a project. How is BTC or ETH a project?

[OneMoreRep]

Not everyone bought btc at the quantity and price you paid for it. The rest of us have better opportunities at maximizing our initial investment funds in other projects. If you think BTC is going to be the only thing around in 5 years, youre seriously mistaken.

Its not about finding "the one" like you keep bringing up, its finding several projects that will be of value in the coming years. Going through your posts , I get the impression yoire the only person suggesting there will be one crypto entity around.

Ethereum, Cardano, Chainlink, Uni, Polkadot, etc, they will be here for quite some time because they have good teams around them and they have utility. 

I was attempting to show the difference between those projects that have some utility as opposed to those that just have a group of people online  trying to drive the price up for no reason other than to make some quick bucks overnight.

Very much agree with this post.

I think the crypto market will have a solid group of players come the next 5-10 years. While Bitcoin is a great store of wealth and is slowly becoming very mainstream, it isn't the only player in town. Ethereum, Binance Coin, Cardano, Polkadot, VeChain, Uni etc all have solid teams behind them and great partnerships.

I do agree that Bitcoin is the king, but he is aging and there are certainly other players in town that can allow for other people to enjoy the fruits which gib is feasting on today due to BTC's maturity.

"1"

[Flexacon]

The crypto market right now is basically dotcom boom playing out again.

One or 2 of the cryptos might be a future Amazon or google (it won't be bitcoin), but the vast majority are going to disappear once government/bank backed cryptos come into play.

[Coffeed]

The crypto market right now is basically dotcom boom playing out again.

One or 2 of the cryptos might be a future Amazon or google (it won't be bitcoin), but the vast majority are going to disappear once government/bank backed cryptos come into play.

Why won't it be bitcoin?

[Theoak*]

Why won't it be bitcoin?

Run the numbers and come to your own conclusions.

48million millionaires  in the world
2.5million btc left on the exchanges
100million + users said to grow to 1billion by 2025
21 million btc ONLY
~3million lost forever.

[Mayday]

So why is bitcoin the best?

Try not to think of the tech terms to keep it easy.

Think of it like this, BTC is like the US but stronger.

Post world war 2 the US rocketed off to be the world’s leading country. Everybody developed and moved forward but the US was always the most solid and the centre of everything.

If the US catches a cold, everybody gets sick. Nobody else has that effect. The same as BTC catches a cold all coins get sick.

Even in bad times. 1970s the US still in control. GFC the US still in control. Pandemic, the US still in control.

We are in collapse right now and there is nothing better out there than BTC in terms of market support. It has been the fastest growing network in history and We are in 1994 in internet adoption terms right now. The internet probably took 20yrs to really be everywhere and BTC is something like 4x faster adoption.

[Mayday]

Run the numbers and come to your own conclusions.

48million millionaires  in the world
2.5million btc left on the exchanges
100million + users said to grow to 1billion by 2025
21 million btc ONLY
~3million lost forever.

2,000 billionaires in the word input 1B each gives 2T net inflow
2.32M coins left on exchanges
On a flat price 2T / 2.32M = 862k......

In the real world we never run out of BTC because of price action so the price go up significantly and in this example 862k price per coin would more likely be price towards 2M+ and supply still remaining.

This value would continue to grow as more capital flows in.

Now consider a supply/demand price scale......

[Flexacon]

Why won't it be bitcoin?

It enables too much shady shit to go on unseen and governments don't like it. The latter will bring about it's inevitable downfall.

It's also no longer the best solution for the purpose it was originally designed for. Think along the lines of why some web browsers or search engines that at one time had over a 90% of the market and are no longer used.

Most getting into bitcoin now are basically using in it the same way someone might invest in a rare baseball card, precious gems or artwork. Or as a hedge against a complete market collapse/hyperinflation. Some will do very well out of it, some will get their fingers burnt.

I'll add the caveat that no ones knows for certain what will happen and this is all opinion, but history is a great teacher. This has dotcom written all over it.

[Mayday]

I'll add the caveat that no ones knows for certain what will happen and this is all opinion, but history is a great teacher. This has dotcom written all over it.

Can I get your thoughts on your end point?

If history is a great teacher why do you assume the negative outcome? Why can’t this be the internet? Online banking? Social media etc? All very successful and strong platforms of technology.

If we had no pandemic, no global shutdown and it was business as usual I’d most likely agree with you.

However we have a pandemic, global shutdown, bond yield collapse, money supply expansion at record levels causing huge wage deflation. In this environment we see Hyperinflation of the Bitcoin price which is exactly what it was designed to do in this environment as a signal to people of what was happening to the money supply.

Gold is moving at 15% which is pretty much inline with the M3 expansion but it hasn’t grown in adoption......  in the 40s and 70s we saw gold go parabolic as people ram to it yet today we see gold chugging along but people running to Bitcoin.

[pellius]

The crypto market right now is basically dotcom boom playing out again.

One or 2 of the cryptos might be a future Amazon or google (it won't be bitcoin), but the vast majority are going to disappear once government/bank backed cryptos come into play.

Why are you so sure it won't be BTC being that it is the largest, strongest, and most well known and familiar with the general public.

[pellius]

Run the numbers and come to your own conclusions.

48million millionaires  in the world
2.5million btc left on the exchanges
100million + users said to grow to 1billion by 2025
21 million btc ONLY
~3million lost forever.

The number of BTC is finite. The worth of a single BTC is infinite.

[pellius]

It enables too much shady shit to go on unseen and governments don't like it. The latter will bring about it's inevitable downfall.

It's also no longer the best solution for the purpose it was originally designed for. Think along the lines of why some web browsers or search engines that at one time had over a 90% of the market and are no longer used.

Most getting into bitcoin now are basically using in it the same way someone might invest in a rare baseball card, precious gems or artwork. Or as a hedge against a complete market collapse/hyperinflation. Some will do very well out of it, some will get their fingers burnt.

I'll add the caveat that no ones knows for certain what will happen and this is all opinion, but history is a great teacher. This has dotcom written all over it.

The "shady shit" that goes on is because BTC is what is being used. Why would any other crypto that people would start bothering to use be any less susceptible to "shady shit"?

[Flexacon]

Can I get your thoughts on your end point?

If history is a great teacher why do you assume the negative outcome? Why can’t this be the internet? Online banking? Social media etc? All very successful and strong platforms of technology.

If we had no pandemic, no global shutdown and it was business as usual I’d most likely agree with you.

However we have a pandemic, global shutdown, bond yield collapse, money supply expansion at record levels causing huge wage deflation. In this environment we see Hyperinflation of the Bitcoin price which is exactly what it was designed to do in this environment as a signal to people of what was happening to the money supply.

Gold is moving at 15% which is pretty much inline with the M3 expansion but it hasn’t grown in adoption......  in the 40s and 70s we saw gold go parabolic as people ram to it yet today we see gold chugging along but people running to Bitcoin.

Blockchain is the internet and that isn't going anywhere. The current cryptos are where I see there being a negative outcome as the situation resembles the madness involving dotcom companies. It doesn't mean I see that as being the end of cryptos, quite the opposite. That's when cryptos will start to become truly mainstream. But it won't be any of the ones getting the headlines now. It will most likely be something new.

People are rightly feeling uneasy with everything going on right now, but the pandemic is reaching its tailend in the West and IMO the boom period will beat expectations. There is a ridiculous amount of money waiting to spent by people with poor impulse control. At worst this kicks the can further down the road and delays any crash (look to history again) but that's enough time for blockchain and crypto to take another evolution.

[obsidian]

Blockchain is the internet and that isn't going anywhere. The current cryptos are where I see there being a negative outcome as the situation resembles the madness involving dotcom companies. It doesn't mean I see that as being the end of cryptos, quite the opposite. That's when cryptos will start to become truly mainstream. But it won't be any of the ones getting the headlines now. It will most likely be something new.

People are rightly feeling uneasy with everything going on right now, but the pandemic is reaching its tailend in the West and IMO the boom period will beat expectations. There is a ridiculous amount of money waiting to spent by people with poor impulse control. At worst this kicks the can further down the road and delays any crash (look to history again) but that's enough time for blockchain and crypto to take another evolution.

You are discounting the network effect. It takes time to build that up. The current cryptos have a head start.

[obsidian]

[Flexacon]

Why are you so sure it won't be BTC being that it is the largest, strongest, and most well known and familiar with the general public.

I explained in post 5978. Same reason people stopped using netscape, Aol search etc.

The "shady shit" that goes on is because BTC is what is being used. Why would any other crypto that people would start bothering to use be any less susceptible to "shady shit"?

Because every transaction could be tracked or limited to certain types of transactions if the crypto was designed that way.

Also you do realise that they could outlaw bitcoin, ban mining, shut down exchanges and a whole host of other restrictions if they wanted to. Even if that didn't kill off bitcoin, it would send the price crashing. Bitcoin is a free beta testing for the government when it comes to blockchain.

[obsidian]

I explained in post 5978. Same reason people stopped using netscape, Aol search etc.

Because every transaction could be tracked or limited to certain transactions if the crypto was designed that way.

Also you do realise that they could outlaw bitcoin, ban mining, shut down exchanges and a whole host of other restrictions if they wanted to. Even if that didn't kill off bitcoin, it would send the price crashing. Bitcoin is a free beta testing for blockchain.

Government officials are probably also invested in crypto. Why would they want to kill that? Also the more wealth goes into crypto the more lobbying power the industry could have.

But it is a noteworthy argument to look at the past dot com bubble and also what happened in the mobile phone arena. Blackberry and Nokia were huge and dominated. Along came Apple with the iPhone and then Android to spoil the party for them.