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

[gib]

But have you considered that more versatile forms of crypto with better utilization & scalability could possibly dethrone BitCoin?

Remember, I hold BTC + 6 other altcoins in my portfolio, so my interest is for it to succeed, but I am able to appreciate that better forms of crypto are being developed that could be more useful than BTC.

I know that for years, BTC has been the father of all cryptos, but why marry it? I know you're heavily vested in it and have upwards of 45+ BTC coins (which at the most recent ATH of $64K, would have already made you a millionaire, albeit to the tune of $2.3 Million after taxes, assuming you live in the USA). Since you're generously vested in BTC, what is your exit strategy assuming it doesn't live to its potential?

"1"

Very hard to dethrone in my view. No new coin can every claim to be the "original Bitcoin". BTC has BY FAR, the biggest and broadest adoption, infrastructure, and most important developers and related contributors. In 10, 20 years BTC will still be (and always will be) the original and classic blockchain currency.

In terms of any successor, its almost possible to predict among the alts (even though many may think they can do so).

*In terms of taxes, I pay zero (as I have structured my tax residence in a zero tax on capital gains / foreign income jurisdiction).

[gib]

Can you please lease elaborate how buying ethereum poisoned the well for bitcoin other than because they are cheaper. Or is that the only reason?

Any alt constitutes a dilution of BTC. Its best for BTC if we are all maximalists. (The opposite extreme would be that we have an infinite number of new coins, all with virtually zero value)

[SOMEPARTS]

Musk - one of the founders of Paypal - continues his destruction of BTC. Cryptocultists getting butthurt.

In my opinion...time to start thinking about when TSLA announced they were buying BTC as a top, generated by one of the richest people in the world to make probably hundreds of millions.

[Flexacon]

I'm my view it was all those who bought alts "because they are cheaper" that poisoned it. (Which is why in every cycle, alts eventually get destroyed and market collectively reverts back to BTC).

Bitcoin would still be fighting to break 10k if the alt/get rich quick money didn't funnel it's way back to the top.

Bitcoin for now the infinite pyramid glitch.

[Bindare_Dundat]

Musk - one of the founders of Paypal - continues his destruction of BTC. Cryptocultists getting butthurt.

In my opinion...time to start thinking about when TSLA announced they were buying BTC as a top, generated by one of the richest people in the world to make probably hundreds of millions.

He got the booted from PayPal because he's a social tard.

[Flexacon]

He got the booted from PayPal because he's a social tard.

And look where he is now vs paypal. I'd rather him on my side than as opposition. That said it's time to take a mini break from crypto shitfest he's created and put my money into something more sensible like GME and AMC.

[Bindare_Dundat]

Mass carnage today. God damn. Am I still being a drama queen? Lol

[Bindare_Dundat]

And look where he is now vs paypal. I'd rather him on my side than as opposition. That said it's time to take a mini break from crypto shitfest he's created and put my money into something more sensible like GME and AMC.

That still doesn't make him any less a social tard.

[obsidian]

Mass carnage today. God damn. Am I still being a drama queen? Lol

Yes you are. Take a deep breath. This is why it is sometimes better to just hodl and not trade. Or dollar cost average into crypto.

[obsidian]

Great great show by Bitboy. He has really built an awesome channel (over 1 million subscribers now) and the new format of "Around the Blockchain" and now bringing on the Token Metrics guys side by side with him is just fantastic. None of them are wearing masks either and sitting shoulder to shoulder. LOL!

Onemorerep has been talking about Polygon and it looks like a smart move to get into that.

[obsidian]

Any alt constitutes a dilution of BTC. Its best for BTC if we are all maximalists. (The opposite extreme would be that we have an infinite number of new coins, all with virtually zero value)

Yes that is a point Saylor also made. Miners will have an incentive to lower their operating costs by going green.

Hopefully Bitcoin will recover soon. Not going to lie I do like Ethereum gaining on BTC but part of that reason is I want to get BTC for a bargain. I will load up on BTC once it looks like the ETH to BTC ratio has stalled out.

[obsidian]

Musk - one of the founders of Paypal - continues his destruction of BTC. Cryptocultists getting butthurt.

In my opinion...time to start thinking about when TSLA announced they were buying BTC as a top, generated by one of the richest people in the world to make probably hundreds of millions.

His net worth went down $30 billion overnight in February. Making hundreds of millions for someone at his level is meaningless. They aim for tens of billions in gains not hundreds of millions.

https://www.thewrap.com/how-elon-musk-lost-30-billion-overnight-and-the-title-of-worlds-richest-man/

[Zillotch]

Very hard to dethrone in my view.

bitcoin is like a material constituent (blockchain) constructing the throne upon which diem is seated and will operate.

the goal has always been the creation of a blockchain infrastructure – by which humanity may b imprisoned.

tards will tard.

[Mayday]

bitcoin is like a material constituent (blockchain) constructing the throne upon which diem is seated and will operate.

the goal has always been the creation of a blockchain infrastructure – by which humanity may b imprisoned.

tards will tard.

Why such a negative view?

If Diem gets off the ground it dethrones the USD for international trade (because the USD weighting will be closer to 20% instead of 100%) and as a result provides 3rd world countries the opportunity for their local currency to hold value for investment in development.

The potential for a country like India is massive and that will result in derisking China.


You too easily forget the bond market is dying and the the forex market is dying. 2 of the largest and most liquid markets are in a spiral of redundancy. Where do you think the 200T in capital in those markets goes? It doesn’t vanish dude. We are seeing the crypto market grow and such capital away from these other markets and it has the ability to become the new financial market.

[Mayday]

Musk - one of the founders of Paypal - continues his destruction of BTC. Cryptocultists getting butthurt.

In my opinion...time to start thinking about when TSLA announced they were buying BTC as a top, generated by one of the richest people in the world to make probably hundreds of millions.

Maxis on Twitter have gone full retard.

They are on there fighting with the guy who invented PayPal, the worlds most disruptive payment system, telling him he doesn’t know anything about crypto or money.

Maxis abused the shit out of Raoul Pal when he refused to do laser eyes.


The guy has 130B. You know what he could do?

The bullrun ends and Elon waits for the bottom at which point Doge is worth fuck all again. He then crashes BTC, buys up a fuckload of Doge for a few hundred million play money and HODLs so much of the supply that any incoming buyers make the price skyrocket faster than BTC could dream of.

The BTC argument of a store of value ends up being laughed out the door as 95% of Doge is permanently HODL’d by the guy the maxis pissed off.

[pellius]

I'm no big investor and most of this is over my head. I do own a few thousand in BTC but don't really pay attention to it much. I do think it will recover from this crash. I saw that it was gone done to $43,000 then I notice it was slowly starting to creep back up. I figure this might be a good time to buy. Buy when the price is low and it's slowly climbing. So I watch for a while and see that it's still steadily climbing. So I throw in another thousand and the very moment that I do, literally the exact moment, the price starts falling.

It seems so much of this is just pure luck in timing. It's real estate that's the real money maker.

[Flexacon]

If you like charts then look at this. It's a Wyckoff cycle and it fits the past 5 months for BTC perfectly. We are at the 2/3rds point with one more possible price spike left and then it's a rapid drop down. The 30K price someone mentioned would be the bottoms of the cycle.

[Mayday]

If you like charts then look at this. It's a Wyckoff cycle and it fits the past 5 months for BTC perfectly. We are at the 2/3rds point with one more possible price spike left and then it's a rapid drop down. The 30K price someone mentioned would be the bottoms of the cycle.

Bro, that is shit.

There are plenty of better things out there.

The top apparently is around the 25th September. However seasonality has always been the key influence. We are trending early. I know people are looking at charts saying we are halfway but to my brain all I see is early.....

Hence I am of the feeling June/July could likely as it contains seasonality and I am super nervous about this bullrun.  You think December which makes sense but I worry it’s to predictable as 99% think December. We can’t all win remember?

55k is a key indication that the NEXT BEARMARKET BOTTOM will be around this point. It also gives weight to a 200k top as a 55k retracement roughly 75% pullback makes sense.


**Edit as I forgot to make the 55k in reference to the bearmarket bottom following this bullrun. Oops.

[Flexacon]

Bro, that is shit.

There are plenty of better things out there.

The top apparently is around the 25th September. However seasonality has always been the key influence. We are trending early. I know people are looking at charts saying we are halfway but to my brain all I see is early.....

Hence I am of the feeling June/July could likely as it contains seasonality and I am super nervous about this bullrun.  You think December which makes sense but I worry it’s to predictable as 99% think December. We can’t all win remember?

55k is a key indication that the bottom will be around this point. It also gives weight to a 200k top as a 55k retracement roughly 75% pullback makes sense.

That's not predicting a top, just the Jan to July months of this year.

I'm actually leaning away from a December peak and it may well be late September. But I don't think that that will be the end of the cycle. People are getting better at hodling and we're seeing far more tribalism for different coins. The funnelling to bitcoin may well take longer and we could get a second higher peak in late 2022 

If bitcoin only peaks at around 90K in later this year then I'll be very bullish on my prediction. That may also signal the end for the stock to flow model for bitcoin. One step at a time though. For now a 30k bitcoin in late June.

[Bindare_Dundat]

Can't wait for something like eip1559 to be delayed. Oh man. The pain will be all too real.

[Griffith]

[Bindare_Dundat]

I'm my view it was all those who bought alts "because they are cheaper" that poisoned it. (Which is why in every cycle, alts eventually get destroyed and market collectively reverts back to BTC).

looks like the community is still sucking elons dick and are putting the blame solely on bitcoin maxis for chasing Muskrat away.

[Pray_4_War]

Elon and his bullshit don't change the reality that the Fed is printing infinite US dollars and robbing purchasing power from Americans.  It doesn't change the fact that people worldwide want decentralized finance and a way to create and preserve wealth.  Bitcoin isn't going anywhere.  The price is being manipulated and all that does is fuck over the little guy who is less savvy and prone to panic sell.  I'm not selling, I'm buying.  This is a 5 to 10 year play for me..........at least.  Elon Musk does not make the market.  What's going on with the Bitoin price goes way beyond one rich dude that has a lot of influence.

[polychronopolous]

You're  a smart guy, no doubt a numbers man.

21 million coins
18million mined
4 million lost forever
14 in circulation
2.8million on exchanges
Elon musk/Tesla holdings 35k btc

Safe to say he can shake the market, no way shape or form is he breaking it. Enjoy the ride, you'll  learn alot from it going into  the next halving 2024-2025.

This.

Elon or any other uber important billionaire can stomp their feet and create all the FUD in the world but this does NOTHING to change the fundamentals of Bitcoin which got it to this point. Not a damn thing.

Long term, Bitcoin is, as some others have put it, The Apex Predator. It eats EVERYTHING.

[TheGrinch]

Hope everyone know that gib sold everything for 10000000% return at exactly 64,789.27

but only if it doesn't go above that.. then gib never sold anything